Jackson VA Loans

JACKSON, 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 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.