Kingsport VA Loan Rates, Closing Costs & Stats

KINGSPORT-BRISTOL, TN-VA

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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.

    Kingsport's 80 lenders originated 454 VA loans during 2023. The total origination value was $128,190,000, with an average VA loan value of $282,357.

    Kingsport VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kingsport averaged 6.75% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Kingsport's average VA mortgage closing costs are $5,187.

    The average rate for the prior week (2024-07-12) was 6.49% and one month ago for the week of 2024-06-14, the average rate was 6.75%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.56%.

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

    Kingsport 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 Kingsport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 92 6.76% $5,919
    UNITED WHOLESALE MORTGAGE, LLC 34 6.36% $7,025
    DHI MORTGAGE COMPANY, LTD. 25 5.85% $5,972
    QUICKEN LOANS, LLC 23 6.16% $8,819
    NAVY FEDERAL CREDIT UNION 22 5.78% $6,536
    CARDINAL FINANCIAL 17 6.74% $11,602
    PENNYMAC LOAN SERVICES, LLC 14 5.47% $10,995
    MOVEMENT MORTGAGE, LLC 14 7.04% $5,751
    USAA Federal Savings Bank 14 6.40% $8,151
    MORTGAGE INVESTORS GROUP, INC. 13 6.21% $7,620
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.67% $8,457
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.73% $3,306
    NEW DAY FINANCIAL, LLC 9 7.32% $13,616
    FREEDOM MORTGAGE CORPORATION 9 6.69% $15,850
    GUARANTEED RATE, INC. 8 6.51% $6,526
    Sierra Pacific Mortgage Company, Inc. 5 6.90% $6,681
    Barrington Bank & Trust Company, N.A. 5 6.85% $7,897
    LOANDEPOT.COM, LLC 5 6.17% $14,687
    ROSS MORTGAGE CORPORATION 4 7.22% $10,014
    The Federal Savings Bank 4 6.19% $11,212
    ALAMEDA MORTGAGE CORPORATION 4 7.25% $14,119
    PENTAGON FEDERAL CREDIT UNION 3 5.75% $6,542
    EASTMAN 3 6.79% $5,481
    FIRST COMMUNITY MORTGAGE, INC. 3 6.46% $4,181
    NEWREZ LLC 3 6.71% $12,293
    MUTUAL OF OMAHA MORTGAGE, INC. 3 5.79% $10,415
    GVC MORTGAGE, INC. 3 7.21% $4,410
    PLANET HOME LENDING, LLC 3 5.71% $5,285
    STOCKTON MORTGAGE CORPORATION 3 6.92% $7,798
    LEADERONE FINANCIAL CORPORATION 3 6.75% $8,832
    AMERISAVE MORTGAGE CORPORATION 2 7.25% $5,964
    Strong Home Mortgage, LLC 2 6.56% $14,189
    Truist 2 6.50% $6,180
    Equity Prime Mortgage LLC 2 6.31% $12,724
    VAN DYK MORTGAGE CORPORATION 2 7.06% $3,701
    CMG MORTGAGE, INC. 2 6.69% $9,092
    LAKEVIEW LOAN SERVICING, LLC 2 5.87% $13,606
    Wells Fargo Bank 2 6.56% $7,586
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.81% $6,917
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.69% $12,318
    Mid-Continent Funding, Inc. 2 6.19% $16,557
    BROKER SOLUTIONS, INC. 2 6.25% $5,135
    Willamette Valley Bank 1 6.25% $2,022
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $13,332
    AMERICAN FINANCING CORPORATION 1 6.38% $10,192
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.75% $650
    Armed Forces Bank 1 6.00% $10,648
    Bank of Tennessee 1 6.00% $13,616
    Capital Bank 1 7.25% $9,629
    Citizens Bank 1 6.50% $3,710
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $14,498
    COMPASS MORTGAGE, INC. 1 6.50% $6,766
    DELMAR FINANCIAL COMPANY 1 7.50% $7,793
    EVERETT FINANCIAL, INC. 1 6.63% $14,218
    First Horizon Bank 1 6.63% $16,296
    First Option Mortgage, LLC 1 7.25% $8,469
    Gateway First Bank 1 6.75% $9,488
    GoPrime Mortgage, Inc. 1 7.00% $3,190
    HomePromise Corporation 1 7.88% $735
    JPMorgan Chase Bank 1 7.63% $1,584
    LOANPAL, LLC 1 6.38% $11,879
    Magnolia Bank 1 6.25% $12,857
    MILEND, INC. 1 7.13% $12,850
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.00% $0
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $10,579
    M&T Bank 1 6.25% $5,239
    NexBank 1 5.38% $12,719
    PLAZA HOME MORTGAGE, INC. 1 5.75% $3,808
    Prosperity Home Mortgage, LLC 1 7.13% $6,383
    Regions Bank 1 7.63% $3,401
    RELIANCE FIRST CAPITAL, LLC 1 6.25% $36,825
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $6,110
    The Huntington National Bank 1 6.25% $4,917
    UNION HOME MORTGAGE CORP. 1 6.50% $5,289
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $2,267
    VERITAS FUNDING, LLC 1 6.88% $19,286
    VILLAGE CAPITAL MORTGAGE 1 6.25% $7,224
    Virginia Credit Union, Inc. 1 6.25% $9,289
    Waterstone Mortgage Corporation 1 7.13% $7,136
    1ST SIGNATURE LENDING, LLC 1 6.00% $11,260

    The top Kingsport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 92 VA loans originated. Their average total fees are $5,919, which is $1,107 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Kingsport VA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,306), MOVEMENT MORTGAGE, LLC ($5,751), Mortgage Research Center, LLC ($5,919), DHI MORTGAGE COMPANY, LTD. ($5,972) and NAVY FEDERAL CREDIT UNION ($6,536).

    The lowest rate Kingsport VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.47%), NAVY FEDERAL CREDIT UNION (5.78%), DHI MORTGAGE COMPANY, LTD. (5.85%), QUICKEN LOANS, LLC (6.16%) and MORTGAGE INVESTORS GROUP, INC. (6.21%).

    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.