Little Rock VA Loan Rates, Closing Costs & Stats
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR
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.
Little Rock's 107 lenders originated 1,550 VA
loans during 2023. The total origination value was $416,170,000, with an average VA loan value of
$268,497.
Little Rock VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Little Rock
averaged
6.55%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Little Rock's average VA mortgage closing costs are $5,189.
The average rate for the prior week (2024-10-18) was
6.07% and
one month ago for the week of 2024-09-20, the
average rate was 5.77%.
The average rate one year ago was 7.59%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.39%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Little Rock 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 Little Rock level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
292
|
6.76%
|
$5,414
|
QUICKEN LOANS, LLC
|
71
|
6.14%
|
$9,817
|
FirstTrust Home Loans, Inc.
|
70
|
6.83%
|
$8,004
|
NAVY FEDERAL CREDIT UNION
|
56
|
5.84%
|
$5,945
|
FLAT BRANCH MORTGAGE, INC.
|
56
|
6.84%
|
$8,422
|
Eagle Bank and Trust Company
|
47
|
6.31%
|
$5,922
|
Arvest Bank
|
41
|
6.60%
|
$6,030
|
SENTE MORTGAGE, INC.
|
40
|
6.89%
|
$9,007
|
Bank of England
|
36
|
6.52%
|
$7,536
|
NEW DAY FINANCIAL, LLC
|
36
|
7.79%
|
$9,408
|
CORNERSTONE HOME LENDING, INC.
|
34
|
6.41%
|
$6,124
|
UNITED WHOLESALE MORTGAGE, LLC
|
33
|
6.71%
|
$7,395
|
USAA Federal Savings Bank
|
33
|
6.42%
|
$7,633
|
EUSTIS AND AMERICAN MORTGAGE COMPANY
|
32
|
6.92%
|
$5,527
|
PENNYMAC LOAN SERVICES, LLC
|
32
|
5.48%
|
$6,948
|
BANK OF LITTLE ROCK MORTGAGE CORPORATION
|
32
|
6.39%
|
$5,323
|
FREEDOM MORTGAGE CORPORATION
|
31
|
6.54%
|
$15,989
|
GUARANTEED RATE, INC.
|
28
|
6.68%
|
$5,092
|
First Horizon Bank
|
25
|
6.27%
|
$7,703
|
The Federal Savings Bank
|
25
|
6.40%
|
$17,259
|
COMMUNITY MORTGAGE CORPORATION
|
24
|
6.60%
|
$8,141
|
ARKANSAS Federal Credit Union
|
24
|
6.60%
|
$6,522
|
Chambers Bank
|
24
|
6.14%
|
$8,748
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
21
|
7.51%
|
$3,462
|
CROSSCOUNTRY MORTGAGE, LLC
|
19
|
6.83%
|
$10,067
|
Sierra Pacific Mortgage Company, Inc.
|
18
|
6.68%
|
$8,569
|
Mr. Cooper ( Nationstar Mortgage )
|
16
|
6.19%
|
$10,500
|
Centennial Bank
|
15
|
6.29%
|
$6,857
|
NEWREZ LLC
|
15
|
6.63%
|
$6,190
|
MORTGAGE FINANCIAL SERVICES, LLC
|
14
|
6.56%
|
$5,733
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
13
|
6.67%
|
$9,654
|
LOANDEPOT.COM, LLC
|
13
|
6.06%
|
$10,651
|
VILLAGE CAPITAL MORTGAGE
|
11
|
6.07%
|
$9,086
|
Simmons Bank
|
8
|
6.34%
|
$8,301
|
ENCORE BANK
|
8
|
6.13%
|
$9,334
|
Citizens Bank
|
8
|
6.38%
|
$7,416
|
First Community Bank
|
8
|
6.26%
|
$7,255
|
First Security Bank
|
8
|
6.16%
|
$5,626
|
BROKER SOLUTIONS, INC.
|
8
|
6.81%
|
$5,611
|
Regions Bank
|
7
|
5.98%
|
$7,201
|
Armed Forces Bank
|
7
|
5.93%
|
$8,815
|
PENTAGON FEDERAL CREDIT UNION
|
7
|
5.73%
|
$9,177
|
DAS Acquisition Company, LLC
|
6
|
7.15%
|
$3,027
|
LAKEVIEW LOAN SERVICING, LLC
|
6
|
6.25%
|
$9,574
|
AMERISAVE MORTGAGE CORPORATION
|
5
|
5.98%
|
$11,233
|
Barrington Bank & Trust Company, N.A.
|
5
|
6.00%
|
$12,817
|
MOVEMENT MORTGAGE, LLC
|
5
|
7.15%
|
$3,911
|
NBKC BANK
|
5
|
6.45%
|
$7,915
|
Gateway First Bank
|
5
|
6.53%
|
$8,408
|
NFM, INC.
|
4
|
6.19%
|
$8,930
|
LOANPAL, LLC
|
4
|
5.87%
|
$7,365
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
4
|
6.97%
|
$7,148
|
AMCAP MORTGAGE, LTD.
|
4
|
6.81%
|
$6,247
|
SECURITYNATIONAL MORTGAGE COMPANY
|
4
|
6.44%
|
$6,169
|
PILGRIM MORTGAGE LLC
|
3
|
7.08%
|
$7,366
|
CARDINAL FINANCIAL
|
3
|
7.08%
|
$7,321
|
Paramount Residential Mortgage Group, Inc.
|
3
|
5.88%
|
$9,755
|
Wells Fargo Bank
|
3
|
6.33%
|
$3,364
|
U.S. Bank
|
3
|
6.67%
|
$4,616
|
Mid-Continent Funding, Inc.
|
3
|
6.25%
|
$8,763
|
RELIANCE FIRST CAPITAL, LLC
|
3
|
6.42%
|
$17,169
|
EVERETT FINANCIAL, INC.
|
3
|
7.17%
|
$9,548
|
GERSHMAN INVESTMENT CORP.
|
3
|
5.79%
|
$7,908
|
GMFS LLC
|
2
|
6.69%
|
$14,724
|
FirstBank
|
2
|
6.56%
|
$5,243
|
MORTGAGEONE, INC.
|
2
|
7.31%
|
$5,618
|
GoPrime Mortgage, Inc.
|
2
|
6.25%
|
$3,188
|
POLARIS HOME FUNDING CORP.
|
2
|
6.56%
|
$10,273
|
Servion, Inc.
|
2
|
6.56%
|
$9,506
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
2
|
6.63%
|
$11,798
|
CHURCHILL MORTGAGE CORPORATION
|
2
|
6.69%
|
$5,711
|
Magnolia Bank
|
2
|
6.06%
|
$17,598
|
SOUTHWEST STAGE FUNDING, LLC
|
2
|
7.13%
|
$0
|
Plains Commerce Bank
|
2
|
5.25%
|
$17,744
|
HOMESIDE FINANCIAL, LLC
|
1
|
5.75%
|
$3,567
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
7.13%
|
$6,461
|
Bank of America
|
1
|
6.25%
|
$1,803
|
CALCON MUTUAL MORTGAGE LLC
|
1
|
7.25%
|
$5,036
|
CALIBER HOME LOANS, INC.
|
1
|
6.75%
|
$14,208
|
Capital Bank
|
1
|
5.63%
|
$2,284
|
Colonial Savings, F.A.
|
1
|
6.88%
|
$4,963
|
ENDEAVOR CAPITAL, LLC.
|
1
|
6.38%
|
$4,775
|
Equity Prime Mortgage LLC
|
1
|
6.25%
|
$3,749
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
1
|
7.13%
|
$14,256
|
Firstar Bank
|
1
|
6.13%
|
$6,689
|
First Federal Bank
|
1
|
6.13%
|
$11,192
|
Flagstar Bank, FSB
|
1
|
4.88%
|
$9,318
|
GENEVA FINANCIAL, LLC
|
1
|
6.63%
|
$792
|
GUILD MORTGAGE COMPANY
|
1
|
7.13%
|
$7,735
|
Hancock Whitney Bank
|
1
|
7.13%
|
$2,458
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.63%
|
$13,629
|
Alerus Financial
|
1
|
6.25%
|
$9,062
|
Ixonia Bank
|
1
|
7.63%
|
$3,654
|
JPMorgan Chase Bank
|
1
|
7.75%
|
$2,761
|
Lakeview Community Capital, LLC
|
1
|
6.25%
|
$7,827
|
MID AMERICA MORTGAGE, INC.
|
1
|
6.63%
|
$4,741
|
MORTGAGE INVESTORS GROUP, INC.
|
1
|
5.50%
|
$4,807
|
NBH Bank
|
1
|
6.25%
|
$10,245
|
Old National Bank
|
1
|
5.99%
|
$7,292
|
PLANET HOME LENDING, LLC
|
1
|
7.13%
|
$14,603
|
PNC Bank
|
1
|
7.00%
|
$1,764
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
7.25%
|
$1,197
|
Renasant Bank
|
1
|
6.13%
|
$16,110
|
SIRVA MORTGAGE, INC.
|
1
|
7.00%
|
$7,837
|
STOCKTON MORTGAGE CORPORATION
|
1
|
6.00%
|
$13,114
|
SWBC MORTGAGE CORPORATION
|
1
|
6.75%
|
$7,391
|
TOP FLITE FINANCIAL, INC.
|
1
|
6.75%
|
$10,536
|
The top Little Rock VA lender as defined by loan originations is Mortgage Research Center, LLC, with
292 VA loans originated. Their average total fees are
$5,414, which is $4,403
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Little Rock VA lenders (with over 10 loans originated) are
MORTGAGE SOLUTIONS OF COLORADO, LLC ($3,462), GUARANTEED RATE, INC. ($5,092), BANK OF LITTLE ROCK MORTGAGE CORPORATION ($5,323), Mortgage Research Center, LLC ($5,414) and EUSTIS AND AMERICAN MORTGAGE COMPANY ($5,527).
The lowest rate Little Rock VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.48%), NAVY FEDERAL CREDIT UNION (5.84%), LOANDEPOT.COM, LLC (6.06%), VILLAGE CAPITAL MORTGAGE (6.07%) and QUICKEN LOANS, LLC (6.14%).
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.