Macon VA Loan Rates, Closing Costs & Stats

MACON-BIBB COUNTY, GA

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 6.27% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

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

The average rate for the prior week (2024-10-04) was 5.74% and one month ago for the week of 2024-09-06, the average rate was 6.13%.

The average rate one year ago was 7.3%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.1%.

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.