Hattiesburg VA Loan Rates, Closing Costs & Stats

HATTIESBURG, MS

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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.

    Hattiesburg's 53 lenders originated 227 VA loans during 2023. The total origination value was $58,965,000, with an average VA loan value of $259,758.

    Hattiesburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hattiesburg averaged 6.32% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Hattiesburg's average VA mortgage closing costs are $5,589.

    The average rate for the prior week (2024-11-01) was 6.48% and one month ago for the week of 2024-10-04, the average rate was 6%.

    The average rate one year ago was 7.46%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.63%.

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

    Hattiesburg 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 Hattiesburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 51 6.64% $5,998
    Trustmark National Bank 16 6.50% $4,388
    QUICKEN LOANS, LLC 15 6.20% $8,143
    UNITED WHOLESALE MORTGAGE, LLC 11 6.80% $8,415
    USAA Federal Savings Bank 10 6.45% $5,768
    NAVY FEDERAL CREDIT UNION 7 5.89% $5,145
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.75% $4,496
    PENNYMAC LOAN SERVICES, LLC 7 5.86% $4,571
    NEW DAY FINANCIAL, LLC 7 7.71% $10,643
    VILLAGE CAPITAL MORTGAGE 6 6.33% $10,124
    Merchants & Marine Bank 5 6.63% $5,876
    Hancock Whitney Bank 5 6.28% $9,556
    DRAPER AND KRAMER MORTGAGE CORP. 4 7.00% $10,549
    The Federal Savings Bank 4 6.59% $10,674
    NEWREZ LLC 4 6.22% $10,971
    Regions Bank 4 6.97% $7,436
    STOCKTON MORTGAGE CORPORATION 3 4.67% $11,939
    AMERISAVE MORTGAGE CORPORATION 3 5.88% $11,555
    Equity Prime Mortgage LLC 3 6.71% $11,366
    GMFS LLC 3 6.08% $3,045
    FREEDOM MORTGAGE CORPORATION 3 6.42% $19,574
    Barrington Bank & Trust Company, N.A. 3 6.88% $20,560
    The Citizens National Bank of Meridian 2 7.44% $9,303
    Community Bank of Mississippi 2 5.94% $11,786
    CONTOUR MORTGAGE CORPORATION 2 6.63% $10,376
    KEESLER 2 5.50% $3,555
    LOANDEPOT.COM, LLC 2 6.81% $11,286
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.00% $0
    PLAZA HOME MORTGAGE, INC. 2 6.63% $5,036
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $1,602
    Hamilton Mortgage Corporation 1 6.50% $8,376
    U.S. Bank 1 6.13% $19,914
    GUARANTEED RATE, INC. 1 5.65% $600
    NBH Bank 1 6.75% $10,723
    NBKC BANK 1 5.50% $16,314
    NETWORK CAPITAL FUNDING CORPORATION 1 6.63% $1,414
    GSF Mortgage Corporation 1 6.75% $5,133
    First Federal Bank 1 8.49% $4,255
    FBC MORTGAGE, LLC 1 6.25% $15,498
    AMERICAN FINANCIAL NETWORK, INC. 1 7.38% $894
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $9,158
    EVERETT FINANCIAL, INC. 1 8.13% $5,018
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $7,850
    SIRVA MORTGAGE, INC. 1 6.75% $18,439
    CMG MORTGAGE, INC. 1 5.13% $17,821
    SWBC MORTGAGE CORPORATION 1 6.75% $8,313
    ACADEMY MORTGAGE CORPORATION 1 6.75% $13,913
    CARDINAL FINANCIAL 1 6.50% $12,119
    Bank of America 1 6.38% $11,117
    BancorpSouth 1 6.13% $9,416
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $11,410
    Armed Forces Bank 1 5.75% $8,981
    Magnolia Bank 1 7.13% $16,980

    The top Hattiesburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 51 VA loans originated. Their average total fees are $5,998, which is $1,610 higher than the next largest lender, Trustmark National Bank.

    The lowest fee Hattiesburg VA lenders (with over 10 loans originated) are Trustmark National Bank ($4,388), USAA Federal Savings Bank ($5,768), Mortgage Research Center, LLC ($5,998), QUICKEN LOANS, LLC ($8,143) and UNITED WHOLESALE MORTGAGE, LLC ($8,415).

    The lowest rate Hattiesburg VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.20%), USAA Federal Savings Bank (6.45%), Trustmark National Bank (6.50%), Mortgage Research Center, LLC (6.64%) and UNITED WHOLESALE MORTGAGE, LLC (6.80%).

    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.