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 105 lenders originated 756 VA loans during 2021. The total origination value was $229,700,000, with an average VA loan value of $303,836.

Gainesville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Gainesville averaged 6.3% for the week of 2023-01-27, compared to the national average (all VA variants) of 5.952% for the same period.

Gainesville's average VA mortgage closing costs are $5,751.

The average rate for the prior week (2023-01-20) was 5.93% and one month ago for the week of 2022-12-23, the average rate was 6.7%.

The average rate one year ago was 4%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.88%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 82 2.45% $5,414
FREEDOM MORTGAGE CORPORATION 54 2.42% $3,202
Mortgage Research Center, LLC 53 2.76% $7,093
PENNYMAC LOAN SERVICES, LLC 44 2.37% $4,853
HOMESTAR FINANCIAL CORPORATION 27 2.94% $6,279
UNITED WHOLESALE MORTGAGE, LLC 21 2.55% $7,056
LAKEVIEW LOAN SERVICING, LLC 20 2.43% $2,818
LOANDEPOT.COM, LLC 20 2.52% $5,562
NEW DAY FINANCIAL, LLC 19 2.86% $8,597
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 3.03% $6,940
INSPIRE HOME LOANS INC. 15 2.69% $9,617
VILLAGE CAPITAL MORTGAGE 14 2.30% $3,287
NAVY FEDERAL CREDIT UNION 14 2.52% $4,471
USAA Federal Savings Bank 12 2.96% $5,095
Mr. Cooper ( Nationstar Mortgage ) 12 2.67% $3,683
VANDERBILT MORTGAGE AND FINANCE, INC. 11 2.72% $10,622
DHI MORTGAGE COMPANY, LTD. 11 2.77% $8,698
CALIBER HOME LOANS, INC. 11 2.55% $4,333
The Federal Savings Bank 10 2.63% $8,591
CLEARPATH LENDING 10 2.15% $5,557
HOME POINT FINANCIAL CORPORATION 8 2.41% $6,396
GUARANTEED RATE, INC. 8 2.84% $5,493
Wells Fargo Bank 7 2.32% $7,922
BROKER SOLUTIONS, INC. 7 2.68% $4,307
EAGLE HOME MORTGAGE, LLC 6 2.71% $7,023
First Federal Bank 6 2.60% $9,427
PENTAGON FEDERAL CREDIT UNION 5 2.30% $905
FIRST COMMUNITY MORTGAGE, INC. 5 3.23% $8,803
Truist 5 2.62% $6,686
Ameris Bank 5 2.78% $6,085
GUARANTY MORTGAGE SERVICES, L.L.C. 5 3.58% $10,978
Low VA Rates, LLC 5 2.65% $5,428
NP, Inc. 4 2.28% $4,273
AMERICAN FINANCIAL NETWORK, INC. 4 2.50% $9,078
MILEND, INC. 4 3.16% $5,709
SOUTHEAST MORTGAGE OF GEORGIA, INC. 4 2.94% $15,877
NBKC BANK 4 2.47% $3,517
GUARANTEED RATE AFFINITY, LLC 4 2.41% $19,798
Renasant Bank 4 2.78% $5,879
PULTE MORTGAGE LLC 4 2.81% $5,141
ZILLOW HOME LOANS, LLC 3 2.38% $9,709
Barrington Bank & Trust Company, N.A. 3 2.75% $9,431
Capital City Home Loans, LLC 3 2.46% $11,490
CROSSCOUNTRY MORTGAGE, LLC 3 3.08% $7,028
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.88% $3,773
Mid-Continent Funding, Inc. 3 2.67% $14,053
MOVEMENT MORTGAGE, LLC 3 3.13% $4,180
NEWREZ LLC 3 2.75% $2,409
North American Savings Bank, F.S.B. 3 2.88% $6,515
Commerce Home Mortgage, Inc. 2 2.63% $2,665
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.00% $10,019
NexBank 2 2.38% $10,312
Magnolia Bank 2 2.75% $7,754
Regions Bank 2 3.00% $4,801
DAS Acquisition Company, LLC 2 2.75% $9,294
CELEBRITY HOME LOANS, LLC 2 3.00% $11,191
LENDUS, LLC 2 2.88% $17,510
BAY EQUITY LLC 2 2.81% $14,810
SHELTER HOME MORTGAGE, LLC 2 2.56% $5,883
First Option Mortgage, LLC 2 3.31% $10,383
South State Bank 2 2.88% $12,936
Paramount Residential Mortgage Group, Inc. 2 3.25% $7,631
AMERISAVE MORTGAGE CORPORATION 2 2.38% $3,323
InterContinental Capital Group, Inc 2 2.25% $2,747
ON Q FINANCIAL, INC. 1 2.75% $15,736
CREDIT UNION FINANCIAL SERVICES, LLC 1 2.88% $5,431
PLANET HOME LENDING, LLC 1 2.75% $1,567
PNC Bank 1 2.50% $2,886
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.38% $6,508
Prime Choice Funding Inc. 1 2.25% $2,995
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.00% $1,943
Prosperity Home Mortgage, LLC 1 2.75% $14,600
CHURCHILL MORTGAGE CORPORATION 1 3.13% $14,764
Century Mortgage Company DBA Century Lending Company 1 2.25% $6,536
RADIUS FINANCIAL GROUP INC. 1 2.75% $2,285
RELIANCE FIRST CAPITAL, LLC 1 2.75% $15,612
Carrington Mortgage Services, LLC 1 2.25% $2,258
STOCKTON MORTGAGE CORPORATION 1 2.38% $4,080
SUMMIT FUNDING, INC. 1 2.88% $3,345
The Central Trust Bank 1 2.25% $2,410
THE MORTGAGE FIRM, INC. 1 2.63% $14,289
TJC Mortgage, Inc. 1 2.25% $1,969
Triumph Bank 1 2.25% $3,938
BAYSHORE MORTGAGE FUNDING, LLC 1 2.38% $3,648
United Community Bank 1 3.25% $5,042
BANKSOUTH MORTGAGE COMPANY, LLC 1 3.75% $6,732
Armed Forces Bank 1 2.25% $1,805
KELLER MORTGAGE, LLC 1 2.75% $4,149
KS StateBank 1 2.25% $16,135
Lakeview Community Capital, LLC 1 2.25% $3,247
UNITED SECURITY FINANCIAL CORP 1 2.25% $3,402
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $3,948
HOMESPIRE MORTGAGE CORPORATION 1 2.50% $12,734
GUILD MORTGAGE COMPANY 1 2.88% $12,755
MEMBER FIRST MORTGAGE, LLC 1 2.75% $2,646
VAN DYK MORTGAGE CORPORATION 1 2.50% $4,162
Gateway First Bank 1 2.88% $3,550
MORTGAGE INVESTORS GROUP, INC. 1 2.50% $3,777
First Guaranty Mortgage Corporation 1 2.25% $5,564
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.75% $9,790
FBC MORTGAGE, LLC 1 2.75% $7,345
Evolve Bank & Trust 1 3.75% $13,367
EVERETT FINANCIAL, INC. 1 3.50% $2,040
AMERICAN INTERNET MORTGAGE, INC. 1 2.25% $2,510
ACOPIA, LLC 1 2.63% $1,647

The top Gainesville VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 82 VA loans originated. Their average total fees are $5,414, which is $2,213 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Gainesville VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,818), FREEDOM MORTGAGE CORPORATION ($3,202), VILLAGE CAPITAL MORTGAGE ($3,287), Mr. Cooper ( Nationstar Mortgage ) ($3,683) and CALIBER HOME LOANS, INC. ($4,333).

The lowest rate Gainesville VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.15%), VILLAGE CAPITAL MORTGAGE (2.30%), PENNYMAC LOAN SERVICES, LLC (2.37%), FREEDOM MORTGAGE CORPORATION (2.42%) and LAKEVIEW LOAN SERVICING, LLC (2.43%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $317,450 (5.8%) $432,409 (1.0%) 1.18 850
2018-02-01 $324,738 (4.8%) $432,984 (-0.6%) 1.18 891
2018-03-01 $335,025 (5.0%) $440,509 (1.6%) 1.18 913
2018-04-01 $349,900 (7.7%) $470,120 (7.6%) 1.19 1,018
2018-05-01 $349,925 (6.4%) $447,911 (1.8%) 1.17 1,071
2018-06-01 $352,950 (7.0%) $461,402 (7.7%) 1.18 1,072
2018-07-01 $353,348 (8.6%) $454,068 (6.5%) 1.18 1,075
2018-08-01 $355,450 (9.3%) $457,698 (6.7%) 1.19 1,066
2018-09-01 $352,463 (8.5%) $453,005 (6.7%) 1.18 1,075
2018-10-01 $339,950 (4.3%) $439,539 (3.6%) 1.15 1,221
2018-11-01 $340,000 (6.5%) $442,310 (5.1%) 1.15 1,174
2018-12-01 $337,950 (9.1%) $433,242 (2.6%) 1.17 1,161
2019-01-01 $338,750 (6.7%) $443,786 (2.6%) 1.17 1,087
2019-02-01 $347,460 (7.0%) $470,817 (8.7%) 1.17 1,063
2019-03-01 $328,471 (-2.0%) $442,907 (0.5%) 1.07 1,213
2019-04-01 $299,900 (-14.3%) $392,764 (-16.5%) 0.95 1,477
2019-05-01 $299,900 (-14.3%) $395,187 (-11.8%) 0.94 1,520
2019-06-01 $289,500 (-18.0%) $396,645 (-14.0%) 0.90 1,550
2019-07-01 $286,407 (-18.9%) $396,228 (-12.7%) 0.90 1,564
2019-08-01 $285,465 (-19.7%) $388,362 (-15.2%) 0.90 1,551
2019-09-01 $286,163 (-18.8%) $380,368 (-16.0%) 0.92 1,492
2019-10-01 $305,217 (-10.2%) $406,857 (-7.4%) 0.98 1,237
2019-11-01 $322,980 (-5.0%) $438,894 (-0.8%) 1.06 1,017
2019-12-01 $321,265 (-4.9%) $441,233 (1.8%) 1.07 976
2020-01-01 $318,369 (-6.0%) $447,320 (0.8%) 1.06 911
2020-02-01 $320,758 (-7.7%) $458,502 (-2.6%) 1.05 891
2020-03-01 $339,950 (3.5%) $468,872 (5.9%) 1.06 950
2020-04-01 $340,745 (13.6%) $471,606 (20.1%) 1.07 985
2020-05-01 $349,950 (16.7%) $486,787 (23.2%) 1.06 922
2020-06-01 $352,048 (21.6%) $492,655 (24.2%) 1.04 799
2020-07-01 $352,178 (23.0%) $499,734 (26.1%) 1.02 749
2020-08-01 $365,000 (27.9%) $514,855 (32.6%) 1.05 662
2020-09-01 $369,600 (29.2%) $541,643 (42.4%) 1.06 593
2020-10-01 $362,500 (18.8%) $521,127 (28.1%) 1.04 572
2020-11-01 $362,640 (12.3%) $539,879 (23.0%) 1.06 509
2020-12-01 $362,607 (12.9%) $547,221 (24.0%) 1.08 458
2021-01-01 $369,778 (16.2%) $569,995 (27.4%) 1.10 375
2021-02-01 $399,785 (24.6%) $609,311 (32.9%) 1.16 284
2021-03-01 $385,495 (13.4%) $612,243 (30.6%) 1.09 286
2021-04-01 $408,840 (20.0%) $668,161 (41.7%) 1.11 268
2021-05-01 $439,750 (25.7%) $667,475 (37.1%) 1.16 279
2021-06-01 $421,488 (19.7%) $689,439 (39.9%) 1.11 324
2021-07-01 $419,900 (19.2%) $706,942 (41.5%) 1.11 398
2021-08-01 $416,000 (14.0%) $657,855 (27.8%) 1.11 432
2021-09-01 $426,000 (15.3%) $626,482 (15.7%) 1.14 415
2021-10-01 $449,899 (24.1%) $630,318 (21.0%) 1.20 410
2021-11-01 $468,749 (29.3%) $636,903 (18.0%) 1.25 406
2021-12-01 $461,725 (27.3%) $640,954 (17.1%) 1.25 359
2022-01-01 $458,651 (24.0%) $627,550 (10.1%) 1.24 296
2022-02-01 $459,925 (15.0%) $613,069 (0.6%) 1.20 307
2022-03-01 $486,720 (26.3%) $622,263 (1.6%) 1.22 319
2022-04-01 $497,450 (21.7%) $672,726 (0.7%) 1.19 344
2022-05-01 $499,136 (13.5%) $663,884 (-0.5%) 1.14 422
2022-06-01 $517,049 (22.7%) $672,696 (-2.4%) 1.15 508
2022-07-01 $501,915 (19.5%) $656,059 (-7.2%) 1.14 613
2022-08-01 $499,900 (20.2%) $620,060 (-5.8%) 1.15 665
2022-09-01 $493,159 (15.8%) $609,326 (-2.7%) 1.15 688
2022-10-01 $478,340 (6.3%) $589,666 (-6.5%) 1.13 690
2022-11-01 $476,975 (1.8%) $569,465 (-10.6%) 1.15 678
2022-12-01 $479,000 (3.7%) $585,564 (-8.6%) 1.20 611
Gainesville's median listing price for 2022-12-01 was $479,000, a difference of $17,275 (3.7%) versus the prior year and $2,025 versus the prior month.

Gainesville's median listing price comes in at 120% of the national average.

Gainesville's average listing price for 2022-12-01 was $585,564, a difference of $-55,390 (-8.6%) versus the prior year and $16,099 versus the prior month.

For the 2022-12-01 period, Gainesville had 611 MLS listings, a difference of -67 listings (-10%) versus the prior month and 252 listings (70%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 2,567 sqft
2018-02-01 82 days 2,617 sqft
2018-03-01 64 days 2,635 sqft
2018-04-01 62 days 2,658 sqft
2018-05-01 61 days 2,674 sqft
2018-06-01 73 days 2,738 sqft
2018-07-01 80 days 2,725 sqft
2018-08-01 85 days 2,775 sqft
2018-09-01 78 days 2,768 sqft
2018-10-01 84 days 2,674 sqft
2018-11-01 87 days 2,665 sqft
2018-12-01 95 days 2,626 sqft
2019-01-01 95 days 2,657 sqft
2019-02-01 87 days 2,675 sqft
2019-03-01 88 days 2,710 sqft
2019-04-01 92 days 2,700 sqft
2019-05-01 85 days 2,697 sqft
2019-06-01 84 days 2,626 sqft
2019-07-01 87 days 2,669 sqft
2019-08-01 89 days 2,676 sqft
2019-09-01 92 days 2,646 sqft
2019-10-01 87 days 2,611 sqft
2019-11-01 82 days 2,599 sqft
2019-12-01 83 days 2,589 sqft
2020-01-01 80 days 2,558 sqft
2020-02-01 73 days 2,570 sqft
2020-03-01 58 days 2,662 sqft
2020-04-01 62 days 2,669 sqft
2020-05-01 76 days 2,670 sqft
2020-06-01 85 days 2,739 sqft
2020-07-01 74 days 2,719 sqft
2020-08-01 66 days 2,760 sqft
2020-09-01 62 days 2,774 sqft
2020-10-01 54 days 2,714 sqft
2020-11-01 59 days 2,657 sqft
2020-12-01 70 days 2,692 sqft
2021-01-01 69 days 2,726 sqft
2021-02-01 51 days 2,727 sqft
2021-03-01 38 days 2,566 sqft
2021-04-01 42 days 2,811 sqft
2021-05-01 35 days 2,818 sqft
2021-06-01 33 days 2,607 sqft
2021-07-01 33 days 2,671 sqft
2021-08-01 42 days 2,626 sqft
2021-09-01 50 days 2,627 sqft
2021-10-01 55 days 2,693 sqft
2021-11-01 52 days 2,697 sqft
2021-12-01 59 days 2,555 sqft
2022-01-01 60 days 2,500 sqft
2022-02-01 34 days 2,447 sqft
2022-03-01 36 days 2,523 sqft
2022-04-01 34 days 2,640 sqft
2022-05-01 32 days 2,574 sqft
2022-06-01 31 days 2,669 sqft
2022-07-01 36 days 2,601 sqft
2022-08-01 47 days 2,538 sqft
2022-09-01 51 days 2,506 sqft
2022-10-01 56 days 2,500 sqft
2022-11-01 66 days 2,502 sqft
2022-12-01 77 days 2,528 sqft
Gainesville's median listing age (time on market) for 2022-12-01 was 77 days. This is 31% longer than the same period one year ago.

Gainesville's median square footage for active listings during the 2022-12-01 period was 2,528 sqft. One year prior, the average listing was 2,555 sqft.

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.