Kansas City VA Loan Rates, Closing Costs & Stats

KANSAS CITY, MO-KS

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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.

    Kansas City's 174 lenders originated 3,785 VA loans during 2022. The total origination value was $1,138,475,000, with an average VA loan value of $300,786.

    Kansas City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kansas City averaged 0.06% for the week of 2023-06-02, compared to the national average (all VA variants) of 0% for the same period.

    Kansas City's average VA mortgage closing costs are $5,157.

    The average rate for the prior week (2023-05-26) was 6.09% and one month ago for the week of 2023-04-28, the average rate was 6.15%.

    The average rate one year ago was 4.9%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.25%.

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

    Kansas 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 Kansas City level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 543 5.17% $7,163
    QUICKEN LOANS, LLC 243 4.15% $10,561
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 152 5.04% $7,985
    UNITED WHOLESALE MORTGAGE, LLC 148 4.71% $7,236
    NAVY FEDERAL CREDIT UNION 147 3.91% $6,255
    FREEDOM MORTGAGE CORPORATION 141 4.45% $10,898
    PENNYMAC LOAN SERVICES, LLC 113 3.64% $7,559
    USAA Federal Savings Bank 107 4.64% $7,163
    PRIMELENDING, A PLAINSCAPITAL COMPANY 91 4.92% $5,900
    NEW DAY FINANCIAL, LLC 78 5.43% $10,344
    Prosperity Home Mortgage, LLC 76 4.72% $9,042
    FLAT BRANCH MORTGAGE, INC. 75 4.94% $6,080
    LEADERONE FINANCIAL CORPORATION 65 4.95% $9,032
    GUILD MORTGAGE COMPANY 65 4.93% $8,290
    North American Savings Bank, F.S.B. 64 4.42% $7,319
    LOANDEPOT.COM, LLC 55 4.55% $9,685
    The Federal Savings Bank 52 4.93% $13,990
    First State Bank of St. Charles, Missouri 52 4.48% $8,111
    NBKC BANK 52 4.19% $7,214
    Mr. Cooper ( Nationstar Mortgage ) 45 4.74% $10,864
    Armed Forces Bank 43 4.44% $5,776
    COMMUNITYAMERICA 42 4.52% $6,741
    SUMMIT FUNDING, INC. 42 5.55% $8,599
    AMERISAVE MORTGAGE CORPORATION 37 4.32% $11,035
    CROSSCOUNTRY MORTGAGE, LLC 33 5.00% $7,400
    GUARANTEED RATE, INC. 32 4.84% $6,915
    COMMUNITY MORTGAGE, LLC 31 5.00% $7,510
    Bell Bank 30 4.80% $7,308
    Wells Fargo Bank 29 4.20% $6,928
    HOME POINT FINANCIAL CORPORATION 28 4.34% $9,420
    MORTGAGE SOLUTIONS OF COLORADO, LLC 27 5.69% $9,467
    Flagstar Bank, FSB 26 4.21% $9,176
    ENDEAVOR CAPITAL, LLC. 26 4.97% $7,906
    LAKEVIEW LOAN SERVICING, LLC 25 3.76% $7,587
    NEWREZ LLC 25 4.03% $6,461
    CALIBER HOME LOANS, INC. 23 4.73% $7,913
    DAS Acquisition Company, LLC 23 5.16% $8,763
    Arvest Bank 20 4.51% $8,426
    BROKER SOLUTIONS, INC. 20 4.60% $9,156
    FINANCE OF AMERICA MORTGAGE LLC 17 4.51% $7,863
    OPEN MORTGAGE, LLC 17 5.09% $6,735
    MOVEMENT MORTGAGE, LLC 15 4.76% $5,340
    UNION HOME MORTGAGE CORP. 15 4.38% $9,398
    Plains Commerce Bank 15 5.00% $10,480
    VANDERBILT MORTGAGE AND FINANCE, INC. 14 4.24% $10,283
    PENTAGON FEDERAL CREDIT UNION 13 3.95% $6,501
    Carrington Mortgage Services, LLC 13 4.93% $10,670
    Magnolia Bank 13 4.29% $13,139
    NBH Bank 13 4.64% $4,851
    PLANET HOME LENDING, LLC 13 4.15% $9,052
    EVERETT FINANCIAL, INC. 13 5.64% $5,238
    HOMEBRIDGE FINANCIAL SERVICES, INC. 13 5.09% $12,743
    The Central Trust Bank 12 3.83% $8,656
    Barrington Bank & Trust Company, N.A. 12 4.56% $9,327
    CARDINAL FINANCIAL 12 3.81% $8,094
    Community First National Bank 12 4.31% $7,841
    First Federal Bank of Kansas City 12 4.28% $8,596
    Mid-Continent Funding, Inc. 12 4.73% $11,628
    U.S. Bank 12 4.78% $7,241
    VILLAGE CAPITAL MORTGAGE 12 3.21% $5,628
    United Fidelity Funding Corp. 11 5.97% $11,128
    BNC National Bank 11 4.31% $9,043
    CMG MORTGAGE, INC. 10 4.74% $8,462
    First Bank 10 4.93% $6,151
    MID AMERICA MORTGAGE, INC. 10 4.36% $3,371
    AMERICAN PACIFIC MORTGAGE CORPORATION 9 5.15% $7,660
    SUN WEST MORTGAGE COMPANY, INC. 8 5.04% $7,588
    AMERICAN FINANCING CORPORATION 8 3.86% $9,191
    ACADEMY MORTGAGE CORPORATION 8 4.59% $2,053
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 4.88% $7,049
    MUTUAL OF OMAHA MORTGAGE, INC. 8 4.63% $10,508
    MEGASTAR FINANCIAL CORP. 8 4.34% $5,317
    First National Bank of Omaha 7 4.89% $11,104
    Wyndham Capital Mortgage, Inc. 7 3.95% $8,350
    Mazuma Credit Union 6 4.21% $6,665
    FIRST COMMUNITY MORTGAGE, INC. 6 4.00% $6,077
    Paramount Residential Mortgage Group, Inc. 6 4.04% $7,331
    JAMES B. NUTTER & COMPANY 6 5.04% $5,216
    Sunflower Bank 6 4.64% $10,290
    Low VA Rates, LLC 6 4.15% $16,679
    PREMIER MORTGAGE RESOURCES, L.L.C. 6 5.65% $4,310
    INLANTA MORTGAGE, INC. 6 4.10% $6,379
    BOKF 6 4.79% $6,225
    DELMAR FINANCIAL COMPANY 5 5.38% $1,937
    Amerifirst Financial, Inc. 5 5.35% $7,131
    Equity Prime Mortgage LLC 5 5.83% $6,357
    THRIVE MORTGAGE, LLC 5 4.55% $5,179
    Nations Lending Corporation 4 5.38% $10,917
    JPMorgan Chase Bank 4 5.50% $12,571
    S1L, Inc. 4 5.53% $6,716
    LOANPAL, LLC 4 3.66% $19,346
    American Mortgage & Equity Consultants, Inc. 4 5.28% $5,858
    Gateway First Bank 4 5.63% $7,973
    Commerce Bank 4 5.03% $2,983
    Oakstar Bank 4 4.66% $3,744
    Regions Bank 4 4.41% $8,185
    FirstBank 4 3.47% $6,058
    PREMIA MORTGAGE, LLC 4 4.38% $6,520
    Bank of England 3 5.33% $15,171
    Landmark National Bank 3 3.54% $1,958
    EMBRACE HOME LOANS, INC. 3 6.00% $14,593
    GENEVA FINANCIAL, LLC 3 5.50% $9,036
    Texana Bank 3 4.25% $14,267
    GERSHMAN INVESTMENT CORP. 3 5.58% $7,633
    Truist 3 2.80% $3,444
    UMB Bank 3 5.50% $11,073
    Midwest Mortgage Associates Corporation 3 6.04% $3,057
    Mortgage Investment Services Corporation 3 4.79% $2,367
    First Mortgage Solutions, LLC 3 3.04% $11,118
    CHURCHILL MORTGAGE CORPORATION 3 5.08% $7,390
    M&T Bank 3 4.63% $7,925
    Central National Bank 3 4.08% $1,299
    Neighborhood Loans, Inc. 3 5.00% $9,696
    Fidelity Bank 3 5.29% $3,060
    BAYSHORE MORTGAGE FUNDING, LLC 3 6.75% $9,620
    Ixonia Bank 3 5.38% $15,748
    PHH Mortgage Corporation 3 4.75% $16,986
    JLB CORPORATION 3 3.17% $3,058
    Financial Funding Solutions, Inc. 2 6.31% $7,899
    ZILLOW HOME LOANS, LLC 2 4.06% $5,138
    First Federal Bank 2 3.75% $10,884
    The Home Loan Expert LLC 2 4.13% $10,599
    BancorpSouth Bank 2 5.13% $2,649
    Academy Bank 2 4.31% $8,769
    Sierra Pacific Mortgage Company, Inc. 2 4.13% $8,620
    BAY EQUITY LLC 2 4.94% $2,945
    First Guaranty Mortgage Corporation 2 3.19% $3,144
    Hawthorn Bank 2 3.81% $2,579
    NexBank 2 3.25% $1,494
    First Savings Bank 2 6.25% $14,532
    PLAZA HOME MORTGAGE, INC. 2 6.00% $6,804
    First Internet Bank of Indiana 1 2.50% $6,475
    Goldwater Bank, N.A. 1 7.25% $24,119
    HALLMARK HOME MORTGAGE, LLC 1 6.63% $12,350
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.63% $7,794
    HOMESIDE FINANCIAL, LLC 1 4.63% $16,284
    Hometown Lenders, Inc. 1 6.63% $4,443
    ENVOY MORTGAGE, LTD 1 6.13% $3,094
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $8,794
    MAINSTREET FEDERAL CREDIT UNION 1 6.13% $1,781
    Members Mortgage Services, L.L.C. 1 2.75% $2,980
    Cornerstone First Mortgage, Inc 1 5.50% $39,795
    Mutual Federal Bank 1 4.75% $6,596
    CHERRY CREEK MORTGAGE, LLC 1 4.38% $789
    CASTLE & COOKE MORTGAGE, LLC 1 5.25% $7,131
    NETWORK CAPITAL FUNDING CORPORATION 1 4.50% $5,410
    Capital Bank 1 4.50% $11,096
    Northpointe Bank 1 2.75% $10,355
    NP, Inc. 1 2.75% $2,796
    Old National Bank 1 2.38% $8,572
    ON Q FINANCIAL, INC. 1 6.00% $10,961
    Paramount Bank 1 4.38% $9,025
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 4.75% $9,718
    Peoples Bank 1 4.99% $5,918
    Pinnacle Bank 1 5.25% $2,980
    Bank of America 1 3.88% $2,615
    PNC Bank 1 4.63% $8,803
    ASSEMBLIES OF GOD Credit Union 1 4.63% $12,649
    Red River Bank 1 4.50% $9,713
    R-G Federal Credit Union 1 3.95% $7,179
    RUOFF MORTGAGE COMPANY, INC. 1 4.75% $2,377
    SENTE MORTGAGE, INC. 1 5.25% $16,687
    Servion, Inc. 1 4.88% $3,592
    SUCCESS MORTGAGE PARTNERS, INC. 1 3.50% $18,030
    The First National Bank of Middle Tennessee 1 5.75% $8,062
    TOP FLITE FINANCIAL, INC. 1 5.75% $21,300
    TOWNE MORTGAGE COMPANY 1 3.25% $28,982
    Union Bank and Trust Company 1 3.00% $8,797
    American Mortgage Bank, LLC 1 6.75% $19,421
    US MORTGAGE CORPORATION 1 4.75% $11,752
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $5,255
    VERITAS FUNDING, LLC 1 5.13% $12,912
    First Home Bank 1 3.75% $1,935
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 3.25% $2,166

    The top Kansas City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 543 VA loans originated. Their average total fees are $7,163, which is $3,399 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Kansas City VA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,371), NBH Bank ($4,851), EVERETT FINANCIAL, INC. ($5,238), MOVEMENT MORTGAGE, LLC ($5,340) and VILLAGE CAPITAL MORTGAGE ($5,628).

    The lowest rate Kansas City VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.21%), PENNYMAC LOAN SERVICES, LLC (3.64%), LAKEVIEW LOAN SERVICING, LLC (3.76%), CARDINAL FINANCIAL (3.81%) and The Central Trust Bank (3.83%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kansas City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $280,532 (15.9%) $340,943 (9.9%) 1.04 5,233
    2018-02-01 $296,043 (18.4%) $356,342 (13.8%) 1.08 4,858
    2018-03-01 $303,750 (13.7%) $364,970 (10.9%) 1.07 5,071
    2018-04-01 $306,345 (9.4%) $372,207 (8.1%) 1.04 5,298
    2018-05-01 $302,500 (10.0%) $371,705 (7.6%) 1.01 5,768
    2018-06-01 $298,500 (8.6%) $366,079 (6.0%) 1.00 6,209
    2018-07-01 $293,188 (6.6%) $363,206 (6.4%) 0.98 6,590
    2018-08-01 $290,000 (7.4%) $360,932 (6.0%) 0.97 6,874
    2018-09-01 $292,200 (8.4%) $361,016 (7.0%) 0.98 7,099
    2018-10-01 $289,950 (8.6%) $354,719 (5.9%) 0.98 7,290
    2018-11-01 $289,900 (7.4%) $355,147 (6.4%) 0.98 7,167
    2018-12-01 $292,925 (10.5%) $355,910 (7.6%) 1.01 6,543
    2019-01-01 $299,700 (6.8%) $359,325 (5.4%) 1.04 6,095
    2019-02-01 $312,450 (5.5%) $371,630 (4.3%) 1.06 5,790
    2019-03-01 $319,906 (5.3%) $380,115 (4.2%) 1.05 5,785
    2019-04-01 $322,458 (5.3%) $386,433 (3.8%) 1.02 5,888
    2019-05-01 $325,000 (7.4%) $391,732 (5.4%) 1.02 6,176
    2019-06-01 $324,825 (8.8%) $389,987 (6.5%) 1.02 6,343
    2019-07-01 $309,950 (5.7%) $380,436 (4.7%) 0.97 6,625
    2019-08-01 $307,727 (6.1%) $379,341 (5.1%) 0.97 6,711
    2019-09-01 $311,818 (6.7%) $382,736 (6.0%) 1.00 6,792
    2019-10-01 $311,995 (7.6%) $383,198 (8.0%) 1.01 6,868
    2019-11-01 $309,950 (6.9%) $379,824 (7.0%) 1.02 6,550
    2019-12-01 $313,824 (7.1%) $383,662 (7.8%) 1.05 5,694
    2020-01-01 $324,000 (8.1%) $391,519 (9.0%) 1.08 5,052
    2020-02-01 $338,475 (8.3%) $408,264 (9.9%) 1.11 4,712
    2020-03-01 $350,000 (9.4%) $428,167 (12.6%) 1.10 4,512
    2020-04-01 $351,950 (9.2%) $428,484 (10.9%) 1.10 4,517
    2020-05-01 $369,000 (13.5%) $451,884 (15.4%) 1.12 4,335
    2020-06-01 $375,000 (15.5%) $473,815 (21.5%) 1.10 3,983
    2020-07-01 $372,275 (20.1%) $467,991 (23.0%) 1.08 3,715
    2020-08-01 $362,000 (17.6%) $465,548 (22.7%) 1.04 3,556
    2020-09-01 $353,775 (13.5%) $1,013,048 (164.7%) 1.01 3,519
    2020-10-01 $349,999 (12.2%) $449,552 (17.3%) 1.00 3,603
    2020-11-01 $339,250 (9.5%) $432,417 (13.9%) 0.99 3,481
    2020-12-01 $324,475 (3.4%) $412,565 (7.5%) 0.97 3,102
    2021-01-01 $333,900 (3.1%) $423,056 (8.1%) 1.00 2,609
    2021-02-01 $347,450 (2.7%) $451,745 (10.7%) 1.01 2,057
    2021-03-01 $347,450 (-0.7%) $455,021 (6.3%) 0.99 1,957
    2021-04-01 $340,200 (-3.3%) $448,367 (4.6%) 0.92 2,064
    2021-05-01 $340,000 (-7.9%) $442,401 (-2.1%) 0.90 2,205
    2021-06-01 $327,694 (-12.6%) $425,023 (-10.3%) 0.86 2,556
    2021-07-01 $325,000 (-12.7%) $419,928 (-10.3%) 0.86 3,115
    2021-08-01 $317,500 (-12.3%) $409,737 (-12.0%) 0.85 3,282
    2021-09-01 $322,450 (-8.9%) $404,916 (-60.0%) 0.86 3,436
    2021-10-01 $322,000 (-8.0%) $406,808 (-9.5%) 0.86 3,370
    2021-11-01 $329,950 (-2.7%) $408,817 (-5.5%) 0.88 3,145
    2021-12-01 $343,450 (5.9%) $413,861 (0.3%) 0.93 2,726
    2022-01-01 $365,000 (9.3%) $431,456 (2.0%) 0.99 2,218
    2022-02-01 $387,475 (11.5%) $451,258 (-0.1%) 1.01 2,045
    2022-03-01 $386,538 (11.3%) $442,717 (-2.7%) 0.97 2,096
    2022-04-01 $380,000 (11.7%) $450,707 (0.5%) 0.91 2,265
    2022-05-01 $399,900 (17.6%) $463,755 (4.8%) 0.91 2,705
    2022-06-01 $399,000 (21.8%) $465,292 (9.5%) 0.89 3,245
    2022-07-01 $394,925 (21.5%) $459,142 (9.3%) 0.89 4,017
    2022-08-01 $387,444 (22.0%) $454,285 (10.9%) 0.90 4,193
    2022-09-01 $387,875 (20.3%) $454,561 (12.3%) 0.91 4,356
    2022-10-01 $389,000 (20.8%) $457,680 (12.5%) 0.92 4,723
    2022-11-01 $399,900 (21.2%) $470,864 (15.2%) 0.96 4,729
    2022-12-01 $410,000 (19.4%) $473,329 (14.4%) 1.01 4,377
    2023-01-01 $432,425 (18.5%) $484,383 (12.3%) 1.07 4,048
    2023-02-01 $442,412 (14.2%) $495,659 (9.8%) 1.07 3,732
    2023-03-01 $454,950 (17.7%) $508,590 (14.9%) 1.07 3,520
    2023-04-01 $460,200 (21.1%) $526,217 (16.8%) 1.07 3,402
    2023-05-01 $462,500 (15.7%) $532,355 (14.8%) 1.05 3,453
    Kansas City's median listing price for 2023-05-01 was $462,500, a difference of $62,600 (15.7%) versus the prior year and $2,300 versus the prior month.

    Kansas City's median listing price comes in at 105% of the national average.

    Kansas City's average listing price for 2023-05-01 was $532,355, a difference of $68,600 (14.8%) versus the prior year and $6,138 versus the prior month.

    For the 2023-05-01 period, Kansas City had 3,453 MLS listings, a difference of 51 listings (1%) versus the prior month and 748 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kansas City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 2,143 sqft
    2018-02-01 79 days 2,202 sqft
    2018-03-01 51 days 2,274 sqft
    2018-04-01 45 days 2,325 sqft
    2018-05-01 43 days 2,347 sqft
    2018-06-01 45 days 2,326 sqft
    2018-07-01 48 days 2,321 sqft
    2018-08-01 50 days 2,307 sqft
    2018-09-01 54 days 2,310 sqft
    2018-10-01 57 days 2,286 sqft
    2018-11-01 58 days 2,240 sqft
    2018-12-01 72 days 2,209 sqft
    2019-01-01 80 days 2,217 sqft
    2019-02-01 82 days 2,263 sqft
    2019-03-01 64 days 2,313 sqft
    2019-04-01 43 days 2,350 sqft
    2019-05-01 38 days 2,366 sqft
    2019-06-01 44 days 2,365 sqft
    2019-07-01 45 days 2,295 sqft
    2019-08-01 47 days 2,281 sqft
    2019-09-01 50 days 2,286 sqft
    2019-10-01 53 days 2,285 sqft
    2019-11-01 58 days 2,265 sqft
    2019-12-01 72 days 2,243 sqft
    2020-01-01 81 days 2,273 sqft
    2020-02-01 83 days 2,322 sqft
    2020-03-01 53 days 2,400 sqft
    2020-04-01 54 days 2,399 sqft
    2020-05-01 58 days 2,452 sqft
    2020-06-01 48 days 2,490 sqft
    2020-07-01 43 days 2,448 sqft
    2020-08-01 42 days 2,377 sqft
    2020-09-01 38 days 2,345 sqft
    2020-10-01 37 days 2,321 sqft
    2020-11-01 44 days 2,208 sqft
    2020-12-01 54 days 2,142 sqft
    2021-01-01 64 days 2,102 sqft
    2021-02-01 59 days 2,155 sqft
    2021-03-01 43 days 2,163 sqft
    2021-04-01 37 days 2,130 sqft
    2021-05-01 37 days 2,102 sqft
    2021-06-01 38 days 2,084 sqft
    2021-07-01 37 days 2,071 sqft
    2021-08-01 40 days 2,026 sqft
    2021-09-01 44 days 2,018 sqft
    2021-10-01 47 days 2,004 sqft
    2021-11-01 50 days 2,009 sqft
    2021-12-01 57 days 2,031 sqft
    2022-01-01 68 days 2,056 sqft
    2022-02-01 56 days 2,100 sqft
    2022-03-01 43 days 2,070 sqft
    2022-04-01 38 days 2,086 sqft
    2022-05-01 37 days 2,165 sqft
    2022-06-01 38 days 2,169 sqft
    2022-07-01 40 days 2,168 sqft
    2022-08-01 46 days 2,130 sqft
    2022-09-01 51 days 2,145 sqft
    2022-10-01 51 days 2,150 sqft
    2022-11-01 58 days 2,189 sqft
    2022-12-01 71 days 2,200 sqft
    2023-01-01 81 days 2,212 sqft
    2023-02-01 81 days 2,236 sqft
    2023-03-01 70 days 2,299 sqft
    2023-04-01 62 days 2,327 sqft
    2023-05-01 52 days 2,373 sqft
    Kansas City's median listing age (time on market) for 2023-05-01 was 52 days. This is 39% longer than the same period one year ago.

    Kansas City's median square footage for active listings during the 2023-05-01 period was 2,373 sqft. One year prior, the average listing was 2,165 sqft.

    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.