Madison VA Loan Rates, Closing Costs & Stats

MADISON, WI

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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.

    Madison's 66 lenders originated 416 VA loans during 2024. The total origination value was $166,930,000, with an average VA loan value of $401,274.

    Madison VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Madison averaged 0.29% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Madison's average VA mortgage closing costs are $5,728.

    The average rate for the prior week (2025-06-27) was 6.42% and one month ago for the week of 2025-05-30, the average rate was 6.65%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.47%.

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

    Madison 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 Madison level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 61 6.24% $6,975
    UNITED WHOLESALE MORTGAGE, LLC 30 5.70% $8,204
    NEWREZ LLC 27 6.28% $5,778
    Barrington Bank & Trust Company, N.A. 26 6.26% $4,826
    GUILD MORTGAGE COMPANY 22 6.22% $8,546
    QUICKEN LOANS, LLC 17 6.13% $10,236
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.55% $6,627
    PENNYMAC LOAN SERVICES, LLC 14 5.77% $9,971
    NAVY FEDERAL CREDIT UNION 13 5.90% $5,554
    USAA Federal Savings Bank 12 6.17% $10,068
    FREEDOM MORTGAGE CORPORATION 11 6.16% $7,390
    Bell Bank 10 6.03% $4,989
    THOMPSON KANE & COMPANY, LLC 9 6.39% $10,386
    GUARANTEED RATE, INC. 9 6.29% $4,659
    Prosperity Home Mortgage, LLC 7 5.98% $8,965
    LOANDEPOT.COM, LLC 7 5.78% $10,126
    CROSSCOUNTRY MORTGAGE, LLC 5 6.73% $10,715
    The Bank of New Glarus 5 6.70% $7,072
    Nations Lending Corporation 5 6.65% $11,020
    NEW DAY FINANCIAL, LLC 5 7.37% $12,514
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.41% $14,482
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.13% $5,850
    Bank Five Nine 4 6.47% $5,942
    Ixonia Bank 4 6.75% $17,241
    U.S. Bank 3 6.54% $5,409
    First Federal Bank 3 5.33% $8,087
    Mr. Cooper ( Nationstar Mortgage ) 3 6.08% $6,564
    EAGLE HOME MORTGAGE, LLC 3 4.87% $6,402
    PLANET HOME LENDING, LLC 3 5.66% $4,351
    Armed Forces Bank 3 5.67% $8,145
    MOVEMENT MORTGAGE, LLC 3 6.54% $15,057
    VILLAGE CAPITAL MORTGAGE 3 5.66% $6,882
    The Federal Savings Bank 2 6.25% $15,273
    CLEARPATH LENDING 2 5.56% $3,974
    CMG MORTGAGE, INC. 2 6.19% $13,320
    Paramount Residential Mortgage Group, Inc. 2 6.31% $11,009
    Magnolia Bank 2 5.69% $16,831
    Johnson Bank 2 6.38% $2,317
    Wells Fargo Bank 1 7.13% $6,487
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $10,994
    A + MORTGAGE SERVICES, INC. 1 6.25% $10,865
    Bank First, N.A. 1 5.88% $3,780
    Bank of England 1 6.50% $19,311
    BAY EQUITY LLC 1 7.25% $6,742
    CARDINAL FINANCIAL 1 7.25% $20,503
    Equity Prime Mortgage LLC 1 5.50% $5,136
    Fifth Third Bank 1 6.38% $10,368
    FIRST COLONY MORTGAGE CORPORATION 1 6.88% $9,844
    Flagstar Bank, FSB 1 5.63% $18,598
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $6,254
    GoPrime Mortgage, Inc. 1 5.75% $3,768
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $1,090
    HOMESIDE FINANCIAL, LLC 1 6.49% $14,804
    JPMorgan Chase Bank 1 5.75% $3,384
    Meridian Bank Corporation 1 5.75% $6,712
    NBKC BANK 1 5.63% $1,039
    NORWICH COMMERCIAL GROUP, INC. 1 5.75% $8,320
    PENTAGON FEDERAL CREDIT UNION 1 6.63% $2,869
    PREMIA MORTGAGE, LLC 1 5.50% $1,840
    Servion, Inc. 1 6.75% $2,723
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $4,793
    The Huntington National Bank 1 6.75% $3,345
    UNION HOME MORTGAGE CORP. 1 7.13% $14,854
    University of Wisconsin Credit Union 1 7.13% $2,560
    Uwharrie Bank 1 6.00% $2,295
    AMERICAN FINANCING CORPORATION 1 5.25% $19,079

    The top Madison VA lender as defined by loan originations is Mortgage Research Center, LLC, with 61 VA loans originated. Their average total fees are $6,975, which is $1,229 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Madison VA lenders (with over 10 loans originated) are Barrington Bank & Trust Company, N.A. ($4,826), Bell Bank ($4,989), NAVY FEDERAL CREDIT UNION ($5,554), NEWREZ LLC ($5,778) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,627).

    The lowest rate Madison VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.70%), PENNYMAC LOAN SERVICES, LLC (5.77%), NAVY FEDERAL CREDIT UNION (5.90%), Bell Bank (6.03%) and QUICKEN LOANS, LLC (6.13%).

    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.