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 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.