Lake City VA Loan Rates, Closing Costs & Stats

Lake City, FL

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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.

    Lake City's 53 lenders originated 193 VA loans during 2024. The total origination value was $60,265,000, with an average VA loan value of $312,254.

    Lake City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lake City averaged 0.43% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Lake City's average VA mortgage closing costs are $6,191.

    The average rate for the prior week (2025-06-13) was 7.18% and one month ago for the week of 2025-05-16, the average rate was 6.74%.

    The average rate one year ago was 7.14%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.11%.

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

    Lake 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 Lake City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 33 6.39% $6,440
    UNITED WHOLESALE MORTGAGE, LLC 19 6.03% $7,330
    QUICKEN LOANS, LLC 14 6.10% $10,691
    AMERICAN FINANCIAL NETWORK, INC. 10 6.66% $7,648
    First Federal Bank 10 6.46% $9,215
    NAVY FEDERAL CREDIT UNION 7 5.93% $8,047
    FREEDOM MORTGAGE CORPORATION 7 6.43% $5,081
    UNION HOME MORTGAGE CORP. 6 6.19% $8,224
    MOVEMENT MORTGAGE, LLC 5 6.53% $8,190
    VILLAGE CAPITAL MORTGAGE 4 5.94% $4,244
    Mid-Continent Funding, Inc. 3 6.67% $12,364
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.25% $4,236
    NEW DAY FINANCIAL, LLC 3 6.88% $6,859
    Equity Prime Mortgage LLC 3 7.38% $4,411
    EVERETT FINANCIAL, INC. 3 6.50% $10,825
    GUARANTEED RATE, INC. 3 6.25% $12,875
    AFFORDABLE MORTGAGE ADVISORS, LLC. 3 6.29% $16,217
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.00% $13,364
    BROKER SOLUTIONS, INC. 2 6.69% $9,478
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.25% $1,385
    Barrington Bank & Trust Company, N.A. 2 6.37% $10,991
    CROSSCOUNTRY MORTGAGE, LLC 2 6.50% $8,081
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $10,334
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.00% $6,420
    SUN WEST MORTGAGE COMPANY, INC. 2 5.38% $5,542
    Nations Lending Corporation 2 7.00% $8,718
    Advisors Mortgage Group, L.L.C. 1 6.63% $5,610
    VYSTAR 1 6.38% $4,265
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $9,798
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.75% $5,747
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $4,626
    Carrington Mortgage Services, LLC 1 6.00% $2,378
    City National Bank of Florida 1 5.00% $18,494
    CMG MORTGAGE, INC. 1 5.38% $12,412
    FBC MORTGAGE, LLC 1 5.63% $8,884
    GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $4,929
    GUILD MORTGAGE COMPANY 1 6.63% $15,691
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,420
    LOANDEPOT.COM, LLC 1 5.99% $14,704
    METROPLEX MORTGAGE SERVICES, INC. 1 5.75% $5,978
    MICHIGAN MUTUAL, INC. 1 7.25% $9,085
    NEWREZ LLC 1 5.75% $2,724
    Paramount Residential Mortgage Group, Inc. 1 6.75% $13,704
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $5,508
    PHH Mortgage Corporation 1 5.38% $6,928
    PLANET HOME LENDING, LLC 1 5.63% $3,424
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $5,209
    The Federal Savings Bank 1 6.63% $14,182
    THE MORTGAGE FIRM, INC. 1 6.25% $7,206
    UNITED MORTGAGE CORP 1 7.88% $14,984
    University Bank 1 6.99% $5,121
    USAA Federal Savings Bank 1 5.63% $10,385
    VERITAS FUNDING, LLC 1 6.00% $15,347

    The top Lake City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 33 VA loans originated. Their average total fees are $6,440, which is $889 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lake City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,440), UNITED WHOLESALE MORTGAGE, LLC ($7,330), AMERICAN FINANCIAL NETWORK, INC. ($7,648), First Federal Bank ($9,215) and QUICKEN LOANS, LLC ($10,691).

    The lowest rate Lake City VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.03%), QUICKEN LOANS, LLC (6.10%), Mortgage Research Center, LLC (6.39%), First Federal Bank (6.46%) and AMERICAN FINANCIAL NETWORK, INC. (6.66%).

    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.