Hammond VA Loan Rates, Closing Costs & Stats

HAMMOND, LA

  • 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.

    Hammond's 53 lenders originated 216 VA loans during 2024. The total origination value was $56,050,000, with an average VA loan value of $259,491.

    Hammond VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hammond averaged 0.23% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Hammond's average VA mortgage closing costs are $5,732.

    The average rate for the prior week (2025-06-13) was 6.68% and one month ago for the week of 2025-05-16, the average rate was 6.54%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.13%.

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

    Hammond 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 Hammond level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 32 6.45% $4,109
    DSLD MORTGAGE, LLC 27 6.01% $2,626
    FREEDOM MORTGAGE CORPORATION 17 6.28% $5,464
    UNITED WHOLESALE MORTGAGE, LLC 16 5.71% $5,023
    QUICKEN LOANS, LLC 11 6.25% $8,287
    GMFS LLC 9 6.53% $4,466
    MOVEMENT MORTGAGE, LLC 9 6.33% $8,710
    DHI MORTGAGE COMPANY, LTD. 8 4.69% $4,925
    VILLAGE CAPITAL MORTGAGE 5 6.00% $6,216
    PENNYMAC LOAN SERVICES, LLC 5 5.45% $6,313
    NAVY FEDERAL CREDIT UNION 5 6.03% $5,604
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.47% $10,555
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.50% $3,949
    Gulf Coast Bank and Trust Company 3 6.29% $13,496
    CROSSCOUNTRY MORTGAGE, LLC 3 6.42% $10,968
    PLANET HOME LENDING, LLC 3 5.91% $2,340
    MID AMERICA MORTGAGE, INC. 3 7.33% $5,828
    NEW DAY FINANCIAL, LLC 3 7.74% $12,065
    Goldwater Bank, N.A. 2 6.63% $8,177
    CARDINAL FINANCIAL 2 5.94% $8,816
    Equity Prime Mortgage LLC 2 7.63% $5,106
    USAA Federal Savings Bank 2 6.50% $13,111
    NEWREZ LLC 2 6.50% $7,194
    THE MORTGAGE FIRM, INC. 2 6.25% $886
    SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $3,107
    The Federal Savings Bank 1 6.63% $14,774
    Towne Bank 1 7.00% $14,770
    US MORTGAGE CORPORATION 1 7.25% $2,848
    Wells Fargo Bank 1 6.25% $3,345
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $3,762
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $3,018
    Armed Forces Bank 1 6.25% $4,029
    Barrington Bank & Trust Company, N.A. 1 6.75% $10,467
    BROKER SOLUTIONS, INC. 1 6.75% $10,170
    CLEARPATH LENDING 1 5.38% $11,427
    Cornerstone First Mortgage, Inc 1 6.75% $6,834
    EMM LOANS LLC 1 6.63% $6,789
    FIDELITY BANK 1 6.75% $9,880
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $12,737
    First Federal Bank 1 6.13% $9,973
    Flagstar Bank, FSB 1 6.00% $13,892
    GARDNER FINANCIAL SERVICES, LTD. 1 6.13% $5,187
    Hancock Whitney Bank 1 6.75% $15,380
    Lakeview Community Capital, LLC 1 5.25% $6,472
    LAKEVIEW LOAN SERVICING, LLC 1 5.50% $5,509
    Magnolia Bank 1 5.50% $30,368
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $23,383
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $17,079
    NBKC BANK 1 5.88% $517
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $19,489
    Plains Commerce Bank 1 6.50% $2,949
    SOUTHWEST FUNDING, LP 1 7.13% $11,395
    SUMMIT FUNDING, INC. 1 7.13% $14,007

    The top Hammond VA lender as defined by loan originations is Mortgage Research Center, LLC, with 32 VA loans originated. Their average total fees are $4,109, which is $1,483 higher than the next largest lender, DSLD MORTGAGE, LLC.

    The lowest fee Hammond VA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($2,626), Mortgage Research Center, LLC ($4,109), UNITED WHOLESALE MORTGAGE, LLC ($5,023), FREEDOM MORTGAGE CORPORATION ($5,464) and QUICKEN LOANS, LLC ($8,287).

    The lowest rate Hammond VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.71%), DSLD MORTGAGE, LLC (6.01%), QUICKEN LOANS, LLC (6.25%), FREEDOM MORTGAGE CORPORATION (6.28%) and Mortgage Research Center, LLC (6.45%).

    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.