Jackson VA Loans
JACKSON, MI
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 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.
Jackson's 74 lenders originated 485 VA
loans during 2021. The total origination value was $96,615,000, with an average VA loan value of
$199,206.
Jackson VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Jackson
averaged
5.75%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.68% and
one month ago for the week of 2022-04-08, the
average rate was 5.41%.
The average rate one year ago was 3.12%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.57%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Jackson VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender
at the Jackson level.
Name |
# of Loans |
2021 Avg. 30yFix Rate |
2021 Avg. Total Fees |
QUICKEN LOANS, LLC
|
80
|
2.51%
|
$5,298
|
Mortgage Research Center, LLC
|
55
|
2.94%
|
$5,355
|
FREEDOM MORTGAGE CORPORATION
|
25
|
2.50%
|
$2,212
|
The Huntington National Bank
|
19
|
2.99%
|
$3,138
|
NEW DAY FINANCIAL, LLC
|
17
|
2.95%
|
$5,373
|
VILLAGE CAPITAL & INVESTMENT LLC
|
15
|
2.42%
|
$2,537
|
PENNYMAC LOAN SERVICES, LLC
|
14
|
2.58%
|
$6,127
|
USAA Federal Savings Bank
|
12
|
2.82%
|
$3,316
|
UNITED WHOLESALE MORTGAGE, LLC
|
12
|
2.76%
|
$6,087
|
CALIBER HOME LOANS, INC.
|
12
|
2.48%
|
$3,865
|
CROSSCOUNTRY MORTGAGE, LLC
|
12
|
3.01%
|
$4,106
|
Flagstar Bank, FSB
|
11
|
2.59%
|
$2,710
|
LAKEVIEW LOAN SERVICING, LLC
|
8
|
2.66%
|
$1,717
|
NAVY FEDERAL CREDIT UNION
|
8
|
2.52%
|
$4,029
|
CLEARPATH LENDING
|
7
|
2.32%
|
$3,743
|
RUOFF MORTGAGE COMPANY, INC.
|
7
|
3.18%
|
$5,049
|
Mr. Cooper ( Nationstar Mortgage )
|
6
|
3.21%
|
$2,769
|
HOME POINT FINANCIAL CORPORATION
|
6
|
2.89%
|
$5,820
|
Wells Fargo Bank
|
5
|
2.63%
|
$2,216
|
MORTGAGE 1 INCORPORATED
|
5
|
3.37%
|
$4,666
|
Barrington Bank & Trust Company, N.A.
|
5
|
2.82%
|
$3,270
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
4
|
2.65%
|
$5,662
|
LOANDEPOT.COM, LLC
|
4
|
2.75%
|
$3,134
|
PNC Bank
|
4
|
2.75%
|
$3,045
|
UNION HOME MORTGAGE CORP.
|
4
|
3.00%
|
$4,399
|
First Guaranty Mortgage Corporation
|
3
|
2.75%
|
$2,122
|
The Dart Bank
|
3
|
3.17%
|
$8,055
|
The Federal Savings Bank
|
3
|
2.88%
|
$6,594
|
PLANET HOME LENDING, LLC
|
3
|
2.42%
|
$1,390
|
Low VA Rates, LLC
|
3
|
2.25%
|
$2,309
|
NEWREZ LLC
|
3
|
2.62%
|
$2,201
|
First Federal Bank
|
3
|
4.08%
|
$4,539
|
HOMESIDE FINANCIAL, LLC
|
2
|
3.19%
|
$7,183
|
AMERIFIRST FINANCIAL CORPORATION
|
2
|
3.06%
|
$3,240
|
AMERISAVE MORTGAGE CORPORATION
|
2
|
2.63%
|
$3,630
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
2
|
3.13%
|
$8,036
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
2
|
2.75%
|
$2,355
|
HOWARD HANNA FINANCIAL SERVICES, INC.
|
2
|
3.00%
|
$5,199
|
Independent Bank
|
2
|
3.06%
|
$5,162
|
InterContinental Capital Group, Inc
|
2
|
2.25%
|
$3,462
|
Nations Lending Corporation
|
2
|
3.31%
|
$7,587
|
North American Savings Bank, F.S.B.
|
2
|
2.25%
|
$2,241
|
ROSS MORTGAGE CORPORATION
|
2
|
3.38%
|
$9,331
|
LAND HOME FINANCIAL SERVICES, INC.
|
1
|
3.75%
|
$2,072
|
KeyBank
|
1
|
2.75%
|
$1,268
|
ACCELERATE MORTGAGE, LLC
|
1
|
2.25%
|
$6,811
|
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP
|
1
|
2.38%
|
$2,307
|
NP, Inc.
|
1
|
2.25%
|
$4,146
|
Old National Bank
|
1
|
3.25%
|
$6,159
|
GUARANTEED RATE, INC.
|
1
|
3.25%
|
$150
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
2.50%
|
$6,271
|
PHH Mortgage Corporation
|
1
|
2.88%
|
$2,498
|
Gateway First Bank
|
1
|
4.00%
|
$30
|
First State Bank
|
1
|
2.50%
|
$734
|
First Home Bank
|
1
|
2.75%
|
$13,193
|
RELIANCE FIRST CAPITAL, LLC
|
1
|
2.50%
|
$4,650
|
BAYSHORE MORTGAGE FUNDING, LLC
|
1
|
4.50%
|
$4,179
|
ROYAL UNITED MORTGAGE LLC
|
1
|
2.63%
|
$2,306
|
FIRST HERITAGE FINANCIAL, LLC
|
1
|
2.88%
|
$7,880
|
SOVEREIGN LENDING GROUP INCORPORATED
|
1
|
2.75%
|
$2,896
|
STAUNTON FINANCIAL, INC.
|
1
|
2.75%
|
$3,683
|
SUCCESS MORTGAGE PARTNERS, INC.
|
1
|
2.99%
|
$3,437
|
FINANCE OF AMERICA MORTGAGE LLC
|
1
|
3.38%
|
$12,219
|
Fifth Third Bank
|
1
|
2.75%
|
$3,042
|
EVERETT FINANCIAL, INC.
|
1
|
3.13%
|
$5,515
|
TJC Mortgage, Inc.
|
1
|
2.50%
|
$3,612
|
TOP FLITE FINANCIAL, INC.
|
1
|
3.25%
|
$5,256
|
TOWNE MORTGAGE COMPANY
|
1
|
3.25%
|
$6,797
|
Citizens Bank
|
1
|
2.25%
|
$2,911
|
CIBM Bank
|
1
|
3.13%
|
$2,059
|
UNIVERSITY LENDING GROUP, LLC
|
1
|
2.63%
|
$9,520
|
MICHIGAN MUTUAL, INC.
|
1
|
3.63%
|
$5,456
|
MEMBER FIRST MORTGAGE, LLC
|
1
|
3.88%
|
$7,207
|
Carrington Mortgage Services, LLC
|
1
|
3.75%
|
$4,666
|
The top Jackson VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
80 VA loans originated. Their average total fees are
$5,298, which is $56
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Jackson VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,212), VILLAGE CAPITAL & INVESTMENT LLC ($2,537), Flagstar Bank, FSB ($2,710), The Huntington National Bank ($3,138) and USAA Federal Savings Bank ($3,316).
The lowest rate Jackson VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC (2.42%), CALIBER HOME LOANS, INC. (2.48%), FREEDOM MORTGAGE CORPORATION (2.50%), QUICKEN LOANS, LLC (2.51%) and PENNYMAC LOAN SERVICES, LLC (2.58%).
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.