Knoxville VA Loan Rates, Closing Costs & Stats

KNOXVILLE, TN

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.

Knoxville's 146 lenders originated 1,995 VA loans during 2024. The total origination value was $758,235,000, with an average VA loan value of $380,068.

Knoxville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Knoxville averaged 0.6% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Knoxville's average VA mortgage closing costs are $6,544.

The average rate for the prior week (2025-06-13) was 6.64% and one month ago for the week of 2025-05-16, the average rate was 6.8%.

The average rate one year ago was 6.7%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.05%.

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

Knoxville 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 Knoxville level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 269 6.29% $7,268
UNITED WHOLESALE MORTGAGE, LLC 210 5.97% $8,347
MORTGAGE INVESTORS GROUP, INC. 146 6.12% $7,939
QUICKEN LOANS, LLC 143 6.00% $10,986
FREEDOM MORTGAGE CORPORATION 116 6.17% $10,028
PENNYMAC LOAN SERVICES, LLC 66 5.72% $10,822
DHI MORTGAGE COMPANY, LTD. 63 6.22% $6,236
NAVY FEDERAL CREDIT UNION 56 5.96% $6,125
MOVEMENT MORTGAGE, LLC 41 6.37% $9,595
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 36 6.38% $9,478
NEW DAY FINANCIAL, LLC 35 7.26% $12,737
FIRST COMMUNITY MORTGAGE, INC. 34 6.30% $7,099
STOCKTON MORTGAGE CORPORATION 33 5.95% $10,000
USAA Federal Savings Bank 33 6.03% $7,347
NEWREZ LLC 31 6.00% $8,921
CMG MORTGAGE, INC. 30 6.05% $11,234
VILLAGE CAPITAL MORTGAGE 22 5.75% $8,811
AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.16% $10,144
ARK-LA-TEX FINANCIAL SERVICES, LLC. 18 6.12% $9,557
Gateway First Bank 16 6.66% $10,420
The Federal Savings Bank 16 6.20% $16,610
Mr. Cooper ( Nationstar Mortgage ) 14 6.26% $10,139
Countybank 14 6.36% $6,812
LOANDEPOT.COM, LLC 13 6.22% $10,234
LAKEVIEW LOAN SERVICING, LLC 13 5.72% $6,475
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 7.36% $6,630
BROKER SOLUTIONS, INC. 12 6.50% $12,496
CROSSCOUNTRY MORTGAGE, LLC 12 6.41% $12,997
FIRST COLONY MORTGAGE CORPORATION 12 6.18% $8,139
AMERICAN FINANCIAL NETWORK, INC. 12 6.34% $11,667
Barrington Bank & Trust Company, N.A. 11 6.41% $8,168
Carrington Mortgage Services, LLC 11 5.98% $10,069
UNION HOME MORTGAGE CORP. 11 6.22% $11,824
GUARANTEED RATE, INC. 9 5.84% $9,736
Magnolia Bank 8 5.47% $19,808
Pinnacle Bank 8 6.00% $15,834
Equity Prime Mortgage LLC 7 6.29% $10,261
NBKC BANK 7 6.02% $6,423
AMERISAVE MORTGAGE CORPORATION 7 5.79% $23,129
The Loan Store, Inc. 7 6.12% $10,913
First Federal Bank 7 5.57% $6,408
HOMESIDE FINANCIAL, LLC 6 6.63% $9,366
PLAZA HOME MORTGAGE, INC. 6 6.06% $12,078
CARDINAL FINANCIAL 6 6.83% $8,879
ABSOLUTE HOME MORTGAGE CORPORATION 6 6.92% $7,740
PLANET HOME LENDING, LLC 6 6.06% $7,524
United Community Bank 5 6.50% $7,356
AMERICAN FINANCIAL RESOURCES, INC. 5 6.43% $7,611
AmeriHome Mortgage Company, LLC 5 6.17% $4,690
MUTUAL OF OMAHA MORTGAGE, INC. 5 6.00% $17,878
FirstBank 5 6.50% $6,422
PREMIA MORTGAGE, LLC 5 5.54% $3,472
CANOPY MORTGAGE, LLC 5 6.32% $21,859
Regions Bank 4 6.25% $13,577
CLEARPATH LENDING 4 5.97% $5,944
EVERETT FINANCIAL, INC. 4 6.69% $11,355
Flagstar Bank, FSB 4 6.40% $9,538
GUILD MORTGAGE COMPANY 4 6.34% $8,398
LOANPAL, LLC 4 5.56% $11,145
PENTAGON FEDERAL CREDIT UNION 4 5.81% $4,726
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.38% $1,471
RELIANCE FIRST CAPITAL, LLC 4 6.69% $10,899
Renasant Bank 4 6.09% $2,062
SUN WEST MORTGAGE COMPANY, INC. 4 6.34% $7,829
TOWNE MORTGAGE COMPANY 4 6.47% $9,147
Truist 4 6.20% $6,285
U.S. Bank 4 6.59% $8,735
VANDERBILT MORTGAGE AND FINANCE, INC. 4 6.06% $7,832
CHURCHILL MORTGAGE CORPORATION 3 6.38% $13,914
VERITAS FUNDING, LLC 3 5.88% $23,513
MORTGAGEONE, INC. 3 6.63% $5,556
COMMUNITY MORTGAGE CORPORATION 3 6.00% $8,233
NFM, INC. 3 6.29% $8,976
Sierra Pacific Mortgage Company, Inc. 3 6.63% $5,096
Princeton Mortgage Corporation 3 6.04% $7,784
Waterstone Mortgage Corporation 3 6.71% $9,507
VAN DYK MORTGAGE CORPORATION 3 6.04% $13,295
Century Mortgage Company DBA Century Lending Company 3 6.54% $7,570
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.00% $9,786
GENEVA FINANCIAL, LLC 2 7.19% $3,644
Wolfe Financial, Inc 2 7.00% $17,500
MID AMERICA MORTGAGE, INC. 2 7.25% $6,276
First Horizon Bank 2 6.31% $3,633
EMM LOANS LLC 2 6.63% $12,020
Nations Lending Corporation 2 6.50% $13,510
NORTHERN MORTGAGE SERVICES, LLC 2 5.94% $5,164
ON Q FINANCIAL, INC. 2 6.00% $10,889
Prosperity Home Mortgage, LLC 2 6.31% $6,567
SeaTrust Mortgage Company 2 6.31% $17,966
SmartBank 2 6.00% $11,319
SOUTHWEST FUNDING, LP 2 6.94% $13,293
SOUTHWEST STAGE FUNDING, LLC 2 6.38% $3,338
Armed Forces Bank 2 6.13% $3,539
Strong Home Mortgage, LLC 2 5.81% $2,465
T2 FINANCIAL LLC 2 6.00% $11,541
Texana Bank 2 7.31% $21,266
Total Media Management, LLC 2 7.12% $10,339
ALLIED MORTGAGE GROUP, INC. 2 6.69% $7,809
GUARANTEED RATE AFFINITY, LLC 2 5.96% $2,375
GoPrime Mortgage, Inc. 2 6.06% $7,423
ALLIANT CREDIT UNION 2 5.94% $8,740
HOMESTEAD FUNDING CORP. 2 5.88% $654
Capital Bank 1 5.75% $2,318
Bell Bank 1 7.25% $2,852
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.63% $11,971
Mid-Continent Funding, Inc. 1 5.88% $24,667
FLAT BRANCH MORTGAGE, INC. 1 6.63% $6,285
JPMorgan Chase Bank 1 6.25% $19,169
BANKSOUTH MORTGAGE COMPANY, LLC 1 6.49% $6,380
Bank of England 1 6.75% $1,344
Vellum Mortgage, Inc. 1 6.75% $6,050
LOANFLIGHT LENDING, LLC 1 5.88% $5,804
ROYAL UNITED MORTGAGE LLC 1 5.13% $13,627
American Mortgage Bank, LLC 1 7.25% $23,817
GMFS LLC 1 6.63% $5,960
AMERICAN FINANCING CORPORATION 1 6.75% $12,897
South State Bank 1 6.13% $7,044
HomePromise Corporation 1 7.00% $7,965
GREENSTATE CREDIT UNION 1 6.13% $4,438
Goldwater Bank, N.A. 1 8.99% $13,913
INTERCOASTAL MORTGAGE COMPANY 1 6.25% $6,120
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $13,521
AIR ACADEMY 1 5.99% $5,111
Integrity Home Mortgage Corp 1 6.13% $650
Home Federal Bank of Tennessee 1 5.75% $5,907
Ameris Bank 1 6.50% $20,514
The Huntington National Bank 1 6.00% $20,939
Ixonia Bank 1 5.13% $25,742
EMBRACE HOME LOANS, INC. 1 6.25% $4,633
Eagle Bank and Trust Company 1 6.00% $8,985
NATION ONE MORTGAGE CORPORATION 1 6.63% $15,090
NATIONS DIRECT MORTGAGE, LLC 1 6.75% $5,562
TOP FLITE FINANCIAL, INC. 1 6.75% $9,620
DIRECT MORTGAGE LOANS, LLC 1 6.13% $12,655
CU COMMUNITY, LLC 1 6.50% $3,939
CONTOUR MORTGAGE CORPORATION 1 6.63% $16,589
COMPASS MORTGAGE, INC. 1 6.13% $12,059
Fifth Third Bank 1 6.50% $3,445
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.38% $7,758
Northpointe Bank 1 6.63% $2,069
V.I.P. MORTGAGE, INC. 1 6.75% $5,079
Paramount Residential Mortgage Group, Inc. 1 5.75% $6,827
FIRST HOME MORTGAGE CORPORATION 1 6.13% $3,638
ZILLOW HOME LOANS, LLC 1 7.00% $8,146
MORIA DEVELOPMENT, INC. 1 5.63% $6,600
MILEND, INC. 1 6.63% $33,764

The top Knoxville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 269 VA loans originated. Their average total fees are $7,268, which is $1,079 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Knoxville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,125), DHI MORTGAGE COMPANY, LTD. ($6,236), LAKEVIEW LOAN SERVICING, LLC ($6,475), MORTGAGE SOLUTIONS OF COLORADO, LLC ($6,630) and Countybank ($6,812).

The lowest rate Knoxville VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (5.72%), PENNYMAC LOAN SERVICES, LLC (5.72%), VILLAGE CAPITAL MORTGAGE (5.75%), STOCKTON MORTGAGE CORPORATION (5.95%) and NAVY FEDERAL CREDIT UNION (5.96%).

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.