Lawrenceburg VA Loan Rates, Closing Costs & Stats

Lawrenceburg, TN

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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.

    Lawrenceburg's 31 lenders originated 69 VA loans during 2023. The total origination value was $20,085,000, with an average VA loan value of $291,087.

    Lawrenceburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lawrenceburg averaged 6.2% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Lawrenceburg's average VA mortgage closing costs are $5,781.

    The average rate for the prior week (2024-11-01) was 6.45% and one month ago for the week of 2024-10-04, the average rate was 5.58%.

    The average rate one year ago was 7.24%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

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

    Lawrenceburg 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 Lawrenceburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 16 6.42% $7,287
    QUICKEN LOANS, LLC 7 5.94% $12,686
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.38% $6,489
    UNITED WHOLESALE MORTGAGE, LLC 4 6.20% $6,473
    FREEDOM MORTGAGE CORPORATION 3 6.25% $11,090
    NAVY FEDERAL CREDIT UNION 2 5.44% $6,512
    FIRST COMMUNITY MORTGAGE, INC. 2 6.88% $15,224
    The Federal Savings Bank 2 5.94% $16,787
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.25% $2,096
    HOMESIDE FINANCIAL, LLC 2 6.06% $21,565
    AMCAP MORTGAGE, LTD. 2 6.31% $6,183
    NEWREZ LLC 1 7.25% $15,398
    NFM, INC. 1 6.63% $21,742
    PENNYMAC LOAN SERVICES, LLC 1 5.00% $17,211
    PLANET HOME LENDING, LLC 1 6.75% $2,719
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $14,901
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $1,809
    Renasant Bank 1 6.25% $5,684
    ROSS MORTGAGE CORPORATION 1 6.50% $16,017
    TOWNE MORTGAGE COMPANY 1 6.50% $22,050
    USAA Federal Savings Bank 1 5.75% $6,687
    BancorpSouth 1 6.50% $5,579
    Barrington Bank & Trust Company, N.A. 1 6.25% $10,804
    CIS Financial Services, Inc. 1 6.88% $9,714
    Flagstar Bank, FSB 1 6.13% $4,710
    INTERLINC MORTGAGE SERVICES, LLC 1 7.25% $5,015
    LOANDEPOT.COM, LLC 1 5.99% $13,938
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,131
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $3,896
    Nations Lending Corporation 1 6.25% $12,706
    NBKC BANK 1 5.88% $9,222

    The top Lawrenceburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $7,287, which is $5,399 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lawrenceburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,287), .

    The lowest rate Lawrenceburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.42%), .

    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.