Gillette VA Loan Rates, Closing Costs & Stats

Gillette, WY

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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.

    Gillette's 28 lenders originated 79 VA loans during 2023. The total origination value was $23,455,000, with an average VA loan value of $296,899.

    Gillette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gillette averaged 6.47% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Gillette's average VA mortgage closing costs are $5,560.

    The average rate for the prior week (2024-11-01) was 6.53% and one month ago for the week of 2024-10-04, the average rate was 5.66%.

    The average rate one year ago was 7.21%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

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

    Gillette 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 Gillette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BAY EQUITY LLC 13 6.52% $4,697
    Mortgage Research Center, LLC 11 7.23% $5,428
    UNITED WHOLESALE MORTGAGE, LLC 5 6.46% $7,161
    QUICKEN LOANS, LLC 5 6.54% $17,549
    AXIA FINANCIAL, LLC 3 6.33% $8,046
    PENNYMAC LOAN SERVICES, LLC 3 5.92% $4,925
    Pinnacle Bank - Wyoming 3 6.79% $12,524
    Plains Commerce Bank 3 6.42% $14,748
    The Federal Savings Bank 3 6.38% $19,508
    USAA Federal Savings Bank 3 6.38% $4,829
    U.S. Bank 2 6.06% $3,775
    Unify Home Lending Inc. 2 7.31% $9,818
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.19% $2,180
    FREEDOM MORTGAGE CORPORATION 2 6.75% $12,890
    Gateway First Bank 2 7.19% $4,696
    LOANDEPOT.COM, LLC 2 6.06% $2,992
    NEW DAY FINANCIAL, LLC 1 7.50% $12,013
    NEWREZ LLC 1 7.75% $3,319
    Bank of Colorado 1 5.75% $10,002
    Barrington Bank & Trust Company, N.A. 1 6.75% $8,668
    Equity Prime Mortgage LLC 1 7.25% $1,395
    GUILD MORTGAGE COMPANY 1 7.63% $7,435
    GUARANTEED RATE, INC. 1 7.00% $4,199
    Magnolia Bank 1 7.25% $19,915
    Mid-Continent Funding, Inc. 1 6.25% $16,753
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $2,604
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $11,652
    NBKC BANK 1 6.25% $13,864

    The top Gillette VA lender as defined by loan originations is BAY EQUITY LLC, with 13 VA loans originated. Their average total fees are $4,697, which is $732 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Gillette VA lenders (with over 10 loans originated) are BAY EQUITY LLC ($4,697), Mortgage Research Center, LLC ($5,428), .

    The lowest rate Gillette VA lenders (with over 10 loans originated) are BAY EQUITY LLC (6.52%), Mortgage Research Center, LLC (7.23%), .

    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.