Johnson City VA Loan Rates, Closing Costs & Stats

JOHNSON CITY, TN

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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.

    Johnson City's 62 lenders originated 310 VA loans during 2023. The total origination value was $93,170,000, with an average VA loan value of $300,548.

    Johnson City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Johnson City averaged 6.57% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Johnson City's average VA mortgage closing costs are $5,343.

    The average rate for the prior week (2024-07-12) was 6.51% and one month ago for the week of 2024-06-14, the average rate was 6.87%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.27%.

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

    Johnson City 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 Johnson City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 50 6.70% $6,671
    MOVEMENT MORTGAGE, LLC 28 6.54% $4,910
    QUICKEN LOANS, LLC 21 6.24% $10,661
    UNITED WHOLESALE MORTGAGE, LLC 18 6.52% $8,623
    CARDINAL FINANCIAL 12 6.65% $11,234
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.86% $8,266
    NAVY FEDERAL CREDIT UNION 9 6.00% $1,992
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.39% $5,997
    PENNYMAC LOAN SERVICES, LLC 8 5.17% $5,607
    USAA Federal Savings Bank 7 5.91% $5,028
    MORTGAGE INVESTORS GROUP, INC. 7 6.30% $4,058
    LOANDEPOT.COM, LLC 7 6.25% $11,413
    NEW DAY FINANCIAL, LLC 7 7.43% $13,039
    FREEDOM MORTGAGE CORPORATION 6 6.50% $17,999
    DHI MORTGAGE COMPANY, LTD. 5 6.23% $3,597
    MORTGAGE SOLUTIONS OF COLORADO, LLC 5 7.80% $923
    Sierra Pacific Mortgage Company, Inc. 4 6.22% $8,303
    VILLAGE CAPITAL MORTGAGE 4 6.25% $11,774
    Citizens Bank 4 6.53% $8,067
    VERITAS FUNDING, LLC 3 6.83% $8,570
    UNION HOME MORTGAGE CORP. 3 5.92% $8,691
    The Federal Savings Bank 3 6.17% $15,071
    STOCKTON MORTGAGE CORPORATION 3 6.42% $17,170
    ROSS MORTGAGE CORPORATION 3 6.54% $17,933
    AMERISAVE MORTGAGE CORPORATION 3 6.00% $12,730
    GVC MORTGAGE, INC. 3 6.33% $10,945
    Magnolia Bank 3 5.75% $12,945
    MORTGAGE ACCESS CORP. 3 5.54% $14,417
    ALAMEDA MORTGAGE CORPORATION 2 7.63% $10,198
    AMERICAN FINANCIAL NETWORK, INC. 2 6.25% $4,428
    CMG MORTGAGE, INC. 2 6.25% $17,653
    GUARANTEED RATE, INC. 2 6.94% $8,747
    LAKEVIEW LOAN SERVICING, LLC 2 5.69% $17,728
    Mid-Continent Funding, Inc. 2 6.25% $14,064
    PENTAGON FEDERAL CREDIT UNION 2 5.13% $10,009
    PLANET HOME LENDING, LLC 2 6.75% $11,157
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.00% $5,014
    SECURITYNATIONAL MORTGAGE COMPANY 2 7.38% $8,808
    Wells Fargo Bank 2 6.25% $3,512
    Plains Commerce Bank 1 6.13% $6,526
    CALIBER HOME LOANS, INC. 1 6.25% $18,582
    PLAZA HOME MORTGAGE, INC. 1 5.75% $3,850
    American Mortgage & Equity Consultants, Inc. 1 6.25% $13,765
    Prosperity Home Mortgage, LLC 1 7.88% $7,388
    First Federal Bank 1 6.63% $6,312
    Regions Bank 1 5.75% $3,646
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $5,367
    S1L, Inc. 1 6.25% $4,838
    ZILLOW HOME LOANS, LLC 1 6.63% $3,342
    EASTMAN 1 6.88% $6,381
    SOVEREIGN LENDING GROUP INCORPORATED 1 8.25% $13,686
    Consumer First Mortgage, Inc. 1 6.50% $4,512
    Community First National Bank 1 7.75% $4,259
    The Freedom Bank of Virginia 1 5.63% $6,878
    TOP FLITE FINANCIAL, INC. 1 6.25% $15,740
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $4,118
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $10,463
    Nations Lending Corporation 1 7.25% $11,438
    INTERCOASTAL MORTGAGE COMPANY 1 5.75% $2,599
    NexBank 1 5.75% $2,770
    HomePromise Corporation 1 6.50% $9,452
    Century Mortgage Company DBA Century Lending Company 1 6.25% $5,486

    The top Johnson City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 50 VA loans originated. Their average total fees are $6,671, which is $1,761 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Johnson City VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($4,910), Mortgage Research Center, LLC ($6,671), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,266), UNITED WHOLESALE MORTGAGE, LLC ($8,623) and QUICKEN LOANS, LLC ($10,661).

    The lowest rate Johnson City VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.24%), UNITED WHOLESALE MORTGAGE, LLC (6.52%), MOVEMENT MORTGAGE, LLC (6.54%), CARDINAL FINANCIAL (6.65%) and Mortgage Research Center, LLC (6.70%).

    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.