Lansing VA Loans

LANSING-EAST LANSING, MI

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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 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.

    Lansing's 111 lenders originated 1,344 VA loans during 2021. The total origination value was $272,280,000, with an average VA loan value of $202,589.

    Lansing VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lansing averaged 5.83% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.76% and one month ago for the week of 2022-04-08, the average rate was 4.99%.

    The average rate one year ago was 3%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.18%.

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

    Lansing VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lansing level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 188 2.50% $4,720
    Mortgage Research Center, LLC 168 2.88% $4,966
    UNION HOME MORTGAGE CORP. 69 2.93% $4,300
    FREEDOM MORTGAGE CORPORATION 68 2.46% $2,597
    UNITED WHOLESALE MORTGAGE, LLC 47 2.66% $4,747
    Flagstar Bank, FSB 37 2.71% $4,312
    USAA Federal Savings Bank 35 2.89% $4,816
    VILLAGE CAPITAL & INVESTMENT LLC 35 2.31% $3,208
    NAVY FEDERAL CREDIT UNION 33 2.45% $4,331
    NEW DAY FINANCIAL, LLC 31 2.83% $6,155
    PENNYMAC LOAN SERVICES, LLC 31 2.65% $4,151
    CALIBER HOME LOANS, INC. 24 2.62% $3,749
    The Dart Bank 18 2.98% $5,615
    LAKEVIEW LOAN SERVICING, LLC 17 2.71% $2,266
    VAN DYK MORTGAGE CORPORATION 16 2.81% $5,898
    MORTGAGE 1 INCORPORATED 15 3.14% $5,236
    Wells Fargo Bank 13 2.58% $2,721
    LOANDEPOT.COM, LLC 13 2.65% $5,258
    SUCCESS MORTGAGE PARTNERS, INC. 12 3.12% $6,923
    Barrington Bank & Trust Company, N.A. 12 2.98% $3,862
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 12 2.67% $5,300
    The Federal Savings Bank 11 2.67% $6,291
    CHERRY CREEK MORTGAGE, LLC 11 3.44% $4,089
    First Guaranty Mortgage Corporation 11 2.99% $3,311
    Fifth Third Bank 10 2.93% $2,755
    CROSSCOUNTRY MORTGAGE, LLC 10 2.81% $7,293
    Independent Bank 10 3.08% $4,521
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 9 2.72% $4,032
    CLEARPATH LENDING 8 2.31% $4,720
    The Huntington National Bank 8 3.22% $1,862
    FIRST HERITAGE FINANCIAL, LLC 7 3.04% $5,301
    Mr. Cooper ( Nationstar Mortgage ) 7 2.68% $5,142
    HOME POINT FINANCIAL CORPORATION 7 2.50% $3,225
    CIBM Bank 7 2.93% $3,762
    J. VIRGIL, INC. 6 3.17% $7,692
    PENTAGON FEDERAL CREDIT UNION 5 2.28% $9,872
    MICHIGAN MUTUAL, INC. 5 3.03% $2,664
    Carrington Mortgage Services, LLC 5 3.40% $4,880
    BROKER SOLUTIONS, INC. 5 3.10% $4,754
    MID AMERICA MORTGAGE, INC. 5 2.68% $2,955
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.70% $4,675
    Citizens Bank 5 2.63% $2,661
    Wyndham Capital Mortgage, Inc. 4 2.38% $3,652
    ACCELERATE MORTGAGE, LLC 4 2.13% $7,348
    NEWREZ LLC 4 2.53% $6,357
    First Federal Bank 4 2.84% $12,057
    AMERISAVE MORTGAGE CORPORATION 4 2.75% $8,200
    Low VA Rates, LLC 4 2.31% $3,357
    PLANET HOME LENDING, LLC 4 2.44% $1,912
    MEMBER FIRST MORTGAGE, LLC 4 2.88% $5,630
    ROSS MORTGAGE CORPORATION 4 2.97% $3,032
    MUTUAL OF OMAHA MORTGAGE, INC. 3 2.75% $3,169
    AMERICAN FINANCIAL NETWORK, INC. 3 4.00% $10,002
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.96% $7,446
    EVERETT FINANCIAL, INC. 3 3.63% $6,870
    INSPIRE HOME LOANS INC. 3 3.08% $5,085
    Magnolia Bank 3 2.67% $6,495
    NATIONS DIRECT MORTGAGE, LLC 3 3.50% $5,162
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.13% $7,103
    TOWNE MORTGAGE COMPANY 3 3.63% $3,660
    Preston Home Loans Inc 2 3.63% $5,082
    MICHIGAN FIRST CREDIT UNION 2 3.00% $5,867
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.06% $1,812
    InterContinental Capital Group, Inc 2 2.25% $2,515
    Neighborhood Loans, Inc. 2 3.25% $2,736
    AMERICAN FINANCING CORPORATION 2 2.94% $7,355
    MORTGAGE CENTER L.C 2 2.94% $8,954
    Bank of England 2 3.06% $3,135
    CMG MORTGAGE, INC. 2 3.25% $11,407
    AMERIFIRST FINANCIAL CORPORATION 2 2.88% $5,517
    U.S. Bank 2 3.06% $4,237
    North American Savings Bank, F.S.B. 2 3.00% $4,160
    CHURCHILL MORTGAGE CORPORATION 2 2.75% $2,383
    PNC Bank 2 3.00% $455
    Lakeview Community Capital, LLC 2 2.38% $1,800
    Credence Funding Corporation 1 2.50% $6,149
    Platinum Home Mortgage Corporation 1 3.25% $6,298
    Prime Choice Funding Inc. 1 4.00% $1,994
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.63% $9,558
    Prosperity Home Mortgage, LLC 1 3.00% $7,643
    CONTOUR MORTGAGE CORPORATION 1 3.25% $8,173
    RELIANCE FIRST CAPITAL, LLC 1 2.38% $13,430
    ROYAL UNITED MORTGAGE LLC 1 3.00% $7,656
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $12,425
    Sunflower Bank 1 3.49% $5,608
    SUN WEST MORTGAGE COMPANY, INC. 1 2.88% $3,274
    ChoiceOne Bank 1 3.38% $1,862
    CELEBRITY HOME LOANS, LLC 1 3.00% $3,872
    Bell Bank 1 2.63% $17,716
    THRIVENT Federal Credit Union 1 2.50% $4,283
    Triumph Bank 1 2.25% $1,907
    Assurance Financial Group, L.L.C. 1 2.38% $2,692
    Armed Forces Bank 1 2.38% $2,938
    LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $5,932
    LENDUS, LLC 1 2.25% $3,153
    Amerifirst Financial, Inc. 1 2.75% $16,036
    Manufacturers and Traders Trust Company 1 4.00% $2,219
    LAKE MICHIGAN CREDIT UNION 1 2.63% $5,824
    JPMorgan Chase Bank 1 3.75% $4,202
    INLAND BANK & TRUST 1 2.50% $1,922
    Hometown Lenders, Inc. 1 3.75% $3,200
    HOMESIDE FINANCIAL, LLC 1 2.50% $8,983
    Nations Lending Corporation 1 3.25% $4,894
    NBKC BANK 1 2.63% $2,288
    First State Bank of St. Charles, Missouri 1 2.88% $2,539
    First Savings Bank 1 3.25% $3,405
    NORTHERN MORTGAGE SERVICES, LLC 1 3.25% $5,898
    NP, Inc. 1 2.75% $2,366
    Paramount Bank 1 2.75% $1,958
    FINANCE OF AMERICA MORTGAGE LLC 1 4.75% $3,394
    ELGA CREDIT UNION 1 3.00% $2,679

    The top Lansing VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 188 VA loans originated. Their average total fees are $4,720, which is $245 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Lansing VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,266), FREEDOM MORTGAGE CORPORATION ($2,597), Wells Fargo Bank ($2,721), Fifth Third Bank ($2,755) and VILLAGE CAPITAL & INVESTMENT LLC ($3,208).

    The lowest rate Lansing VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.31%), NAVY FEDERAL CREDIT UNION (2.45%), FREEDOM MORTGAGE CORPORATION (2.46%), QUICKEN LOANS, LLC (2.50%) and Wells Fargo Bank (2.58%).

    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.