Gainesville VA Loans
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 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
5.69%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.4% and
one month ago for the week of 2022-04-15, the
average rate was 4.96%.
The average rate one year ago was 3.05%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.07%.
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 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. Total Fees |
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 & INVESTMENT LLC
|
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 Bank
|
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 & INVESTMENT LLC ($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 & INVESTMENT LLC (2.30%), PENNYMAC LOAN SERVICES, LLC (2.37%), FREEDOM MORTGAGE CORPORATION (2.42%) and LAKEVIEW LOAN SERVICING, LLC (2.43%).
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.