Macon VA Loan Rates, Closing Costs & Stats

MACON-BIBB COUNTY, GA

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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.

    Macon's 67 lenders originated 349 VA loans during 2023. The total origination value was $96,095,000, with an average VA loan value of $275,344.

    Macon VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Macon averaged 6.72% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Macon's average VA mortgage closing costs are $5,254.

    The average rate for the prior week (2024-07-12) was 6.46% and one month ago for the week of 2024-06-14, the average rate was 6.52%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.65%.

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

    Macon 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 Macon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 58 6.90% $4,997
    QUICKEN LOANS, LLC 27 6.39% $7,666
    UNITED WHOLESALE MORTGAGE, LLC 21 6.52% $7,331
    NAVY FEDERAL CREDIT UNION 14 6.09% $4,983
    BROKER SOLUTIONS, INC. 12 6.41% $8,709
    NEW DAY FINANCIAL, LLC 10 7.62% $10,955
    INSPIRE HOME LOANS INC. 9 5.86% $7,421
    GUILD MORTGAGE COMPANY 8 6.83% $9,344
    USAA Federal Savings Bank 8 6.52% $10,492
    FBC MORTGAGE, LLC 8 5.43% $6,276
    GUARANTEED RATE, INC. 8 6.55% $8,226
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.41% $9,126
    ACADEMY MORTGAGE CORPORATION 7 6.45% $11,274
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.84% $4,830
    Colony Bank 6 6.48% $5,323
    LOANDEPOT.COM, LLC 6 6.44% $9,387
    The Federal Savings Bank 6 6.29% $9,648
    Renasant Bank 6 6.27% $10,537
    PENNYMAC LOAN SERVICES, LLC 6 5.81% $4,734
    Ameris Bank 6 6.17% $6,160
    FREEDOM MORTGAGE CORPORATION 5 7.15% $12,110
    CARDINAL FINANCIAL 5 6.68% $11,135
    MOVEMENT MORTGAGE, LLC 4 7.06% $9,141
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.84% $2,522
    ROBINS FINANCIAL 3 6.71% $7,010
    First Federal Bank 3 6.79% $3,693
    Mr. Cooper ( Nationstar Mortgage ) 3 5.96% $9,955
    GMFS LLC 3 6.21% $5,302
    VILLAGE CAPITAL MORTGAGE 3 6.29% $25,209
    AMERICAN FINANCIAL NETWORK, INC. 3 6.63% $13,970
    Paramount Residential Mortgage Group, Inc. 2 6.31% $7,778
    Barrington Bank & Trust Company, N.A. 2 6.25% $5,229
    CANOPY MORTGAGE, LLC 2 6.81% $19,545
    CROSSCOUNTRY MORTGAGE, LLC 2 7.06% $22,778
    HOMESTAR FINANCIAL CORPORATION 2 6.25% $13,515
    PENTAGON FEDERAL CREDIT UNION 2 6.13% $3,954
    Prosperity Home Mortgage, LLC 2 6.00% $15,662
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 7.25% $6,960
    STOCKTON MORTGAGE CORPORATION 2 6.75% $11,641
    Synovus Bank 2 5.88% $7,535
    HOMESPIRE MORTGAGE CORPORATION 1 5.25% $24,820
    Flagstar Bank, FSB 1 5.63% $2,096
    CONTOUR MORTGAGE CORPORATION 1 6.38% $4,019
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $7,040
    Plains Commerce Bank 1 6.38% $4,180
    PLAZA HOME MORTGAGE, INC. 1 7.25% $2,409
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.63% $7,157
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $11,091
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.25% $7,613
    RELIANCE FIRST CAPITAL, LLC 1 7.13% $6,452
    CHURCHILL MORTGAGE CORPORATION 1 7.75% $5,339
    BANKSOUTH MORTGAGE COMPANY, LLC 1 7.38% $11,587
    ServisFirst Bank 1 6.13% $6,253
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 7.63% $2,453
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.13% $4,348
    American Security Mortgage Corp. 1 5.25% $14,837
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $11,898
    Wells Fargo Bank 1 4.50% $0
    Bank of America 1 7.13% $0
    TJC Mortgage, Inc. 1 7.63% $8,012
    Truist 1 5.90% $3,809
    UNION HOME MORTGAGE CORP. 1 6.63% $19,048
    Mid-Continent Funding, Inc. 1 5.63% $5,559
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $17,864
    Keystone Funding, Inc. 1 6.75% $8,902
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $16,081
    JPMorgan Chase Bank 1 5.99% $0

    The top Macon VA lender as defined by loan originations is Mortgage Research Center, LLC, with 58 VA loans originated. Their average total fees are $4,997, which is $2,670 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Macon VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,983), Mortgage Research Center, LLC ($4,997), UNITED WHOLESALE MORTGAGE, LLC ($7,331), QUICKEN LOANS, LLC ($7,666) and BROKER SOLUTIONS, INC. ($8,709).

    The lowest rate Macon VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (6.09%), QUICKEN LOANS, LLC (6.39%), BROKER SOLUTIONS, INC. (6.41%), UNITED WHOLESALE MORTGAGE, LLC (6.52%) and Mortgage Research Center, LLC (6.90%).

    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.