Grand Island VA Loan Rates, Closing Costs & Stats

GRAND ISLAND, NE

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Grand Island's 24 lenders originated 69 VA loans during 2024. The total origination value was $18,155,000, with an average VA loan value of $263,116.

    Grand Island VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grand Island averaged 0.22% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Grand Island's average VA mortgage closing costs are $4,685.

    The average rate for the prior week (2025-06-13) was 6.67% and one month ago for the week of 2025-05-16, the average rate was 6.63%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.2%.

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

    Grand Island 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 Grand Island level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 23 6.34% $4,934
    MORIA DEVELOPMENT, INC. 5 6.70% $7,003
    USAA Federal Savings Bank 4 6.31% $9,428
    QUICKEN LOANS, LLC 4 5.97% $10,146
    CHARTER WEST BANK 3 5.83% $3,057
    FREEDOM MORTGAGE CORPORATION 2 6.31% $2,933
    Mr. Cooper ( Nationstar Mortgage ) 2 6.19% $8,364
    UNITED WHOLESALE MORTGAGE, LLC 2 5.75% $3,829
    Gateway First Bank 2 6.00% $4,665
    Paramount Residential Mortgage Group, Inc. 1 6.99% $8,298
    PENNYMAC LOAN SERVICES, LLC 1 5.50% $4,232
    Plains Commerce Bank 1 7.13% $7,833
    The Federal Savings Bank 1 6.75% $8,227
    TruHome Solutions, LLC 1 6.63% $7,630
    Union Bank and Trust Company 1 6.63% $2,879
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.13% $19,269
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $7,066
    DELMAR FINANCIAL COMPANY 1 6.63% $3,519
    GUILD MORTGAGE COMPANY 1 6.13% $10,382
    LOANDEPOT.COM, LLC 1 6.75% $10,215
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,406
    Carrington Mortgage Services, LLC 1 5.75% $10,420
    NAVY FEDERAL CREDIT UNION 1 6.00% $2,201
    NEW DAY FINANCIAL, LLC 1 6.38% $7,828

    The top Grand Island VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $4,934, which is $2,069 lower than the next largest lender, MORIA DEVELOPMENT, INC..

    The lowest fee Grand Island VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,934), .

    The lowest rate Grand Island VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.34%), .

    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.