Meadville VA Loan Rates, Closing Costs & Stats

Meadville, PA

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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.

    Meadville's 23 lenders originated 51 VA loans during 2023. The total origination value was $9,395,000, with an average VA loan value of $184,216.

    Meadville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Meadville averaged 6.62% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Meadville's average VA mortgage closing costs are $4,921.

    The average rate for the prior week (2024-11-01) was 6.48% and one month ago for the week of 2024-10-04, the average rate was 6.1%.

    The average rate one year ago was 7.36%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.44%.

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

    Meadville 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 Meadville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 16 6.77% $5,202
    QUICKEN LOANS, LLC 4 5.90% $8,976
    NAVY FEDERAL CREDIT UNION 3 5.92% $6,733
    UNION HOME MORTGAGE CORP. 3 7.17% $7,704
    Equity Prime Mortgage LLC 2 7.25% $7,592
    BROKER SOLUTIONS, INC. 2 6.50% $8,399
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.31% $7,144
    EQUITY RESOURCES, INC. 2 6.25% $4,561
    Northwest Bank 1 6.13% $3,502
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $4,052
    PLANET HOME LENDING, LLC 1 7.63% $9,376
    PNC Bank 1 7.13% $2,763
    The Federal Savings Bank 1 6.25% $11,471
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.75% $8,271
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $2,736
    UNITED WHOLESALE MORTGAGE, LLC 1 7.12% $2,280
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $11,709
    Carrington Mortgage Services, LLC 1 3.38% $2,673
    GUARANTEED RATE, INC. 1 5.75% $7,399
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $8,505
    LOANDEPOT.COM, LLC 1 7.50% $16,352
    Mid-Continent Funding, Inc. 1 7.50% $6,498
    NEW DAY FINANCIAL, LLC 1 6.99% $12,547

    The top Meadville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $5,202, which is $3,774 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Meadville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,202), .

    The lowest rate Meadville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.77%), .

    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.