Holland VA Loan Rates, Closing Costs & Stats

Holland, MI

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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.

    Holland's 27 lenders originated 80 VA loans during 2023. The total origination value was $23,260,000, with an average VA loan value of $290,750.

    Holland VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Holland averaged 6.83% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Holland's average VA mortgage closing costs are $5,327.

    The average rate for the prior week (2024-07-12) was 6.87% and one month ago for the week of 2024-06-14, the average rate was 6.83%.

    The average rate one year ago was 7.11%.

    For refis of the same type during the week of 2024-07-19, the average rate was 7.02%.

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

    Holland 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 Holland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 13 6.82% $4,166
    UNITED WHOLESALE MORTGAGE, LLC 10 6.20% $11,948
    QUICKEN LOANS, LLC 9 6.16% $14,373
    PENNYMAC LOAN SERVICES, LLC 4 5.44% $3,283
    LOANDEPOT.COM, LLC 4 6.03% $10,776
    UNION HOME MORTGAGE CORP. 3 6.79% $6,127
    NAVY FEDERAL CREDIT UNION 3 5.92% $5,319
    VILLAGE CAPITAL MORTGAGE 2 5.87% $7,462
    LAKE MICHIGAN CREDIT UNION 2 5.56% $3,575
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.69% $3,958
    USAA Federal Savings Bank 2 6.19% $12,396
    Neighborhood Loans, Inc. 2 6.63% $10,548
    Northpointe Bank 1 6.13% $3,672
    The Huntington National Bank 1 6.75% $8,542
    TOP FLITE FINANCIAL, INC. 1 7.25% $4,276
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $14,336
    Armed Forces Bank 1 6.63% $3,628
    CARDINAL FINANCIAL 1 6.25% $3,128
    First Federal Bank 1 6.00% $9,679
    FREEDOM MORTGAGE CORPORATION 1 6.25% $14,832
    GUILD MORTGAGE COMPANY 1 7.63% $7,069
    Independent Bank 1 6.25% $16,128
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $8,390
    MORTGAGE 1 INCORPORATED 1 6.99% $4,269
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $19,265
    NEW DAY FINANCIAL, LLC 1 7.75% $9,469
    NEWREZ LLC 1 7.13% $17,685

    The top Holland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 13 VA loans originated. Their average total fees are $4,166, which is $7,781 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Holland VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,166), UNITED WHOLESALE MORTGAGE, LLC ($11,948), .

    The lowest rate Holland VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.20%), Mortgage Research Center, LLC (6.82%), .

    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.