Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, GA

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Gainesville's 63 lenders originated 199 VA loans during 2023. The total origination value was $79,665,000, with an average VA loan value of $400,327.

Gainesville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Gainesville averaged 6.35% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

Gainesville's average VA mortgage closing costs are $6,774.

The average rate for the prior week (2024-07-12) was 6.69% and one month ago for the week of 2024-06-14, the average rate was 6.35%.

The average rate one year ago was 6.73%.

For refis of the same type during the week of 2024-07-19, the average rate was 6.94%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Gainesville VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gainesville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 22 6.51% $9,409
UNITED WHOLESALE MORTGAGE, LLC 18 6.21% $7,267
QUICKEN LOANS, LLC 12 6.13% $16,048
HOMESTAR FINANCIAL CORPORATION 10 6.78% $10,847
NAVY FEDERAL CREDIT UNION 10 5.91% $6,649
FREEDOM MORTGAGE CORPORATION 10 6.50% $17,497
VANDERBILT MORTGAGE AND FINANCE, INC. 9 5.76% $5,679
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.81% $9,237
Ameris Bank 6 6.17% $12,217
NEW DAY FINANCIAL, LLC 6 7.50% $13,552
BROKER SOLUTIONS, INC. 5 6.10% $10,786
LOANDEPOT.COM, LLC 5 5.67% $13,939
USAA Federal Savings Bank 4 5.81% $10,456
GUARANTEED RATE, INC. 4 6.23% $7,307
The Federal Savings Bank 3 6.25% $20,266
MOVEMENT MORTGAGE, LLC 3 7.04% $8,311
FIRST COMMUNITY MORTGAGE, INC. 2 7.63% $12,759
AMERISAVE MORTGAGE CORPORATION 2 5.50% $21,357
Capital City Home Loans, LLC 2 6.63% $34,634
CMG MORTGAGE, INC. 2 6.50% $5,245
Wells Fargo Bank 2 5.38% $13,937
Prosperity Home Mortgage, LLC 2 5.69% $3,655
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $12,716
PENTAGON FEDERAL CREDIT UNION 2 5.75% $3,948
EVERETT FINANCIAL, INC. 2 6.63% $16,988
Regions Bank 2 6.38% $5,259
Paramount Residential Mortgage Group, Inc. 2 6.25% $8,652
STOCKTON MORTGAGE CORPORATION 2 6.25% $8,539
Synovus Bank 1 6.50% $4,953
T2 FINANCIAL LLC 1 7.13% $6,119
Truist 1 5.13% $4,768
UNION HOME MORTGAGE CORP. 1 5.38% $18,941
United Community Bank 1 7.00% $6,447
VILLAGE CAPITAL MORTGAGE 1 6.00% $9,453
ACOPIA, LLC 1 5.75% $689
ZILLOW HOME LOANS, LLC 1 7.25% $0
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $1,754
Bank of England 1 6.13% $4,593
BNC National Bank 1 5.88% $7,773
CALIBER HOME LOANS, INC. 1 6.25% $13,671
CARDINAL FINANCIAL 1 5.75% $20,816
Carrington Mortgage Services, LLC 1 5.13% $6,867
Century Mortgage Company DBA Century Lending Company 1 5.63% $12,475
CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $15,612
DRAPER AND KRAMER MORTGAGE CORP. 1 6.25% $22,424
FLAT BRANCH MORTGAGE, INC. 1 6.75% $6,829
GMFS LLC 1 6.13% $9,827
Goldwater Bank, N.A. 1 6.63% $12,893
GUARANTEED RATE AFFINITY, LLC 1 6.15% $29,915
GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.25% $5,293
GUILD MORTGAGE COMPANY 1 5.38% $9,383
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $4,224
LAKEVIEW LOAN SERVICING, LLC 1 5.25% $10,176
Mid-Continent Funding, Inc. 1 5.75% $2,587
MORTGAGE INVESTORS GROUP, INC. 1 5.50% $15,806
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $14,651
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.75% $8,882
NBKC BANK 1 6.00% $3,275
NEWREZ LLC 1 6.75% $17,918
ONY GLO, INC. 1 5.13% $33,005
PENNYMAC LOAN SERVICES, LLC 1 5.49% $8,627
PULTE MORTGAGE LLC 1 6.88% $792
SHELTER HOME MORTGAGE, LLC 1 6.13% $8,155

The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $9,409, which is $2,142 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,649), UNITED WHOLESALE MORTGAGE, LLC ($7,267), Mortgage Research Center, LLC ($9,409), HOMESTAR FINANCIAL CORPORATION ($10,847) and QUICKEN LOANS, LLC ($16,048).

The lowest rate Gainesville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.91%), QUICKEN LOANS, LLC (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), FREEDOM MORTGAGE CORPORATION (6.50%) and Mortgage Research Center, LLC (6.51%).

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.