Gainesville VA Loan Rates, Closing Costs & Stats

GAINESVILLE, GA

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    • 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 85 lenders originated 350 VA loans during 2022. The total origination value was $138,160,000, with an average VA loan value of $394,743.

    Gainesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gainesville averaged 6.62% for the week of 2023-12-08, compared to the national average (all VA variants) of 6.544% for the same period.

    Gainesville's average VA mortgage closing costs are $6,471.

    The average rate for the prior week (2023-12-01) was 6.42% and one month ago for the week of 2023-11-03, the average rate was 7.25%.

    The average rate one year ago was 6.02%.

    For refis of the same type during the week of 2023-12-08, the average rate was 5.25%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 29 5.07% $9,194
    UNITED WHOLESALE MORTGAGE, LLC 25 4.61% $12,633
    HOMESTAR FINANCIAL CORPORATION 24 4.61% $12,372
    QUICKEN LOANS, LLC 21 4.00% $10,698
    NAVY FEDERAL CREDIT UNION 18 4.13% $10,782
    VANDERBILT MORTGAGE AND FINANCE, INC. 16 4.54% $7,107
    LOANDEPOT.COM, LLC 11 4.20% $7,329
    PENNYMAC LOAN SERVICES, LLC 11 2.78% $7,172
    USAA Federal Savings Bank 10 4.93% $7,832
    NEW DAY FINANCIAL, LLC 9 4.33% $12,189
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 4.30% $8,688
    FREEDOM MORTGAGE CORPORATION 8 4.36% $14,730
    MOVEMENT MORTGAGE, LLC 6 5.08% $8,287
    The Federal Savings Bank 5 3.30% $24,840
    BANKSOUTH MORTGAGE COMPANY, LLC 5 5.17% $10,806
    DHI MORTGAGE COMPANY, LTD. 5 3.90% $7,950
    HOME POINT FINANCIAL CORPORATION 5 4.65% $8,220
    GUARANTEED RATE, INC. 5 4.64% $10,354
    First Federal Bank 4 4.97% $5,932
    Mr. Cooper ( Nationstar Mortgage ) 4 3.72% $6,887
    BROKER SOLUTIONS, INC. 4 4.78% $12,318
    Truist 3 4.83% $9,215
    EAGLE HOME MORTGAGE, LLC 3 4.13% $8,586
    CALIBER HOME LOANS, INC. 3 4.51% $7,143
    NEWREZ LLC 3 4.54% $10,590
    PENTAGON FEDERAL CREDIT UNION 3 3.75% $17,989
    Barrington Bank & Trust Company, N.A. 3 5.42% $28,187
    Century Mortgage Company DBA Century Lending Company 3 5.08% $11,761
    Ameris Bank 3 4.25% $17,461
    GUARANTY MORTGAGE SERVICES, L.L.C. 3 5.25% $17,301
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.00% $15,048
    Wells Fargo Bank 3 4.38% $3,301
    ACOPIA, LLC 3 4.38% $5,577
    Magnolia Bank 3 4.50% $17,162
    CROSSCOUNTRY MORTGAGE, LLC 3 5.29% $14,082
    MORTGAGE INVESTORS GROUP, INC. 2 4.00% $11,599
    Prosperity Home Mortgage, LLC 2 5.44% $15,387
    North American Savings Bank, F.S.B. 2 2.25% $12,036
    HOMESIDE FINANCIAL, LLC 2 3.06% $15,979
    CARDINAL FINANCIAL 2 3.94% $44,850
    AMERISAVE MORTGAGE CORPORATION 2 2.75% $13,266
    LAKEVIEW LOAN SERVICING, LLC 2 3.75% $2,787
    STOCKTON MORTGAGE CORPORATION 2 5.50% $18,560
    Flagstar Bank, FSB 2 5.38% $6,262
    PLANET HOME LENDING, LLC 2 4.81% $8,941
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 5.44% $13,236
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.31% $23,843
    ZILLOW HOME LOANS, LLC 1 3.50% $13,793
    Alcova Mortgage LLC 1 6.63% $7,063
    ANGEL OAK HOME LOANS LLC 1 4.50% $3,902
    Armed Forces Bank 1 5.00% $2,827
    Bank of England 1 5.13% $11,140
    BAY EQUITY LLC 1 6.75% $18,934
    BAYSHORE MORTGAGE FUNDING, LLC 1 4.75% $19,308
    Capital City Home Loans, LLC 1 4.25% $18,360
    Carrington Mortgage Services, LLC 1 5.88% $13,844
    CMG MORTGAGE, INC. 1 2.63% $27,258
    CONTOUR MORTGAGE CORPORATION 1 2.25% $13,275
    DAS Acquisition Company, LLC 1 5.88% $4,880
    Equity Prime Mortgage LLC 1 5.88% $9,853
    EVERETT FINANCIAL, INC. 1 5.63% $2,653
    FIRST COMMUNITY MORTGAGE, INC. 1 3.63% $3,133
    FIRST HOME MORTGAGE CORPORATION 1 4.00% $2,623
    First Option Mortgage, LLC 1 4.63% $25,368
    Franklin Loan Corporation 1 5.13% $27,429
    Lakeview Community Capital, LLC 1 3.25% $2,041
    MILEND, INC. 1 5.50% $36,747
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $37,690
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $4,839
    NATIONS DIRECT MORTGAGE, LLC 1 3.99% $15,679
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.50% $4,991
    NexBank 1 4.63% $3,749
    Northpointe Bank 1 4.25% $14,924
    Prime Choice Funding Inc. 1 2.75% $136
    ROYAL UNITED MORTGAGE LLC 1 5.50% $17,345
    SHELTER HOME MORTGAGE, LLC 1 3.75% $3,774
    Sierra Pacific Mortgage Company, Inc. 1 3.63% $4,079
    South State Bank 1 3.00% $11,754
    Synovus Bank 1 4.25% $8,175
    Texana Bank 1 4.88% $8,773
    THE MORTGAGE FIRM, INC. 1 3.75% $24,082
    United Community Bank 1 5.13% $3,461
    US MORTGAGE CORPORATION 1 5.13% $6,386
    Waterstone Mortgage Corporation 1 3.50% $15,182
    Wyndham Capital Mortgage, Inc. 1 4.38% $3,573

    The top Gainesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 29 VA loans originated. Their average total fees are $9,194, which is $3,439 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Gainesville VA lenders (with over 10 loans originated) are VANDERBILT MORTGAGE AND FINANCE, INC. ($7,107), PENNYMAC LOAN SERVICES, LLC ($7,172), LOANDEPOT.COM, LLC ($7,329), USAA Federal Savings Bank ($7,832) and Mortgage Research Center, LLC ($9,194).

    The lowest rate Gainesville VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.78%), QUICKEN LOANS, LLC (4.00%), NAVY FEDERAL CREDIT UNION (4.13%), LOANDEPOT.COM, LLC (4.20%) and VANDERBILT MORTGAGE AND FINANCE, INC. (4.54%).

    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.