Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, MS

  • 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.

    Jackson's 66 lenders originated 520 VA loans during 2023. The total origination value was $158,060,000, with an average VA loan value of $303,962.

    Jackson VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Jackson averaged 6.43% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Jackson's average VA mortgage closing costs are $5,664.

    The average rate for the prior week (2024-07-12) was 6.37% and one month ago for the week of 2024-06-14, the average rate was 6.73%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.57%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Jackson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 124 6.78% $5,722
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 44 6.54% $6,381
    QUICKEN LOANS, LLC 40 6.28% $10,141
    Trustmark National Bank 27 6.47% $6,820
    BancorpSouth 24 6.42% $8,763
    USAA Federal Savings Bank 18 6.23% $11,223
    UNITED WHOLESALE MORTGAGE, LLC 14 6.47% $5,806
    NAVY FEDERAL CREDIT UNION 14 6.01% $6,715
    PENNYMAC LOAN SERVICES, LLC 12 5.41% $9,261
    FREEDOM MORTGAGE CORPORATION 11 6.39% $14,779
    OPEN MORTGAGE, LLC 11 6.58% $6,750
    PLANET HOME LENDING, LLC 10 6.53% $9,353
    The Federal Savings Bank 10 6.14% $15,247
    NEW DAY FINANCIAL, LLC 9 7.26% $12,776
    ACOPIA, LLC 8 7.03% $5,898
    Mr. Cooper ( Nationstar Mortgage ) 8 6.31% $12,615
    LOANDEPOT.COM, LLC 8 5.91% $15,850
    Renasant Bank 5 6.33% $6,302
    First Horizon Bank 5 6.30% $5,664
    PENTAGON FEDERAL CREDIT UNION 5 5.58% $5,428
    Community Bank of Mississippi 5 6.57% $12,133
    Equity Prime Mortgage LLC 4 7.28% $9,133
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.50% $2,903
    CORNERSTONE HOME LENDING, INC. 4 6.69% $11,593
    KEESLER 4 5.38% $11,546
    Regions Bank 3 6.25% $10,126
    Bank of England 3 6.50% $12,257
    BankPlus 3 5.92% $6,086
    Barrington Bank & Trust Company, N.A. 3 7.08% $8,501
    FIDELITY BANK 3 6.50% $5,644
    Magnolia Bank 3 6.38% $13,566
    VILLAGE CAPITAL MORTGAGE 3 6.29% $7,127
    STOCKTON MORTGAGE CORPORATION 2 7.00% $14,326
    DHI MORTGAGE COMPANY, LTD. 2 5.75% $6,531
    MORTGAGE INVESTORS GROUP, INC. 2 6.44% $8,953
    Presidential Bank, FSB 2 5.69% $15,532
    Flagstar Bank, FSB 2 7.25% $9,340
    BROKER SOLUTIONS, INC. 2 6.44% $8,598
    Towne Bank 2 6.38% $7,087
    Armed Forces Bank 2 6.06% $10,232
    Origin Bank 2 7.01% $6,765
    AMERISAVE MORTGAGE CORPORATION 2 6.81% $21,767
    AMERICAN FINANCIAL NETWORK, INC. 2 6.06% $11,721
    GUARANTEED RATE, INC. 2 5.94% $2,192
    SOUTHWEST STAGE FUNDING, LLC 2 6.38% $2,648
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $8,043
    Sunflower Bank 1 6.63% $11,284
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $11,421
    Assurance Financial Group, L.L.C. 1 7.75% $1,274
    The Huntington National Bank 1 6.88% $5,747
    UNION HOME MORTGAGE CORP. 1 7.00% $8,287
    LIBERTY HOME MORTGAGE CORPORATION 1 7.63% $8,329
    Waterstone Mortgage Corporation 1 5.88% $10,971
    JPMorgan Chase Bank 1 6.75% $0
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $3,306
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $1,689
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.99% $8,209
    M&T Bank 1 5.63% $21,189
    FBC MORTGAGE, LLC 1 5.75% $4,807
    NEWREZ LLC 1 6.75% $8,097
    Evolve Bank & Trust 1 6.25% $1,945
    EVANSVILLE TEACHERS 1 7.13% $13,342
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $12,202
    Core Bank 1 6.63% $4,364
    BNC National Bank 1 5.63% $6,762
    ROYAL UNITED MORTGAGE LLC 1 6.75% $7,745

    The top Jackson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 124 VA loans originated. Their average total fees are $5,722, which is $659 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Jackson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,722), UNITED WHOLESALE MORTGAGE, LLC ($5,806), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,381), NAVY FEDERAL CREDIT UNION ($6,715) and OPEN MORTGAGE, LLC ($6,750).

    The lowest rate Jackson VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.41%), NAVY FEDERAL CREDIT UNION (6.01%), The Federal Savings Bank (6.14%), USAA Federal Savings Bank (6.23%) and QUICKEN LOANS, LLC (6.28%).

    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.