Memphis VA Loan Rates, Closing Costs & Stats

MEMPHIS, TN-MS-AR

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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.

    Memphis's 130 lenders originated 1,786 VA loans during 2023. The total origination value was $595,690,000, with an average VA loan value of $333,533.

    Memphis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Memphis averaged 0.02% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Memphis's average VA mortgage closing costs are $6,497.

    The average rate for the prior week (2024-11-08) was 6.43% and one month ago for the week of 2024-10-11, the average rate was 6.2%.

    The average rate one year ago was 7.09%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.03%.

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

    Memphis 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 Memphis level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 311 6.78% $6,476
    QUICKEN LOANS, LLC 123 6.04% $12,288
    COMMUNITY MORTGAGE CORPORATION 117 6.15% $11,456
    NAVY FEDERAL CREDIT UNION 99 5.75% $6,782
    DHI MORTGAGE COMPANY, LTD. 64 5.30% $7,097
    UNITED WHOLESALE MORTGAGE, LLC 64 6.19% $9,980
    FREEDOM MORTGAGE CORPORATION 51 6.41% $15,375
    PENNYMAC LOAN SERVICES, LLC 50 5.43% $7,210
    GUARANTEED RATE, INC. 47 6.35% $6,171
    Patriot Bank 40 6.01% $8,743
    NEW DAY FINANCIAL, LLC 33 7.47% $14,304
    LOANDEPOT.COM, LLC 32 6.24% $11,945
    The Federal Savings Bank 29 6.26% $19,964
    USAA Federal Savings Bank 27 6.24% $7,897
    Trustmark National Bank 23 6.04% $7,838
    CARDINAL FINANCIAL 18 6.45% $12,417
    STOCKTON MORTGAGE CORPORATION 18 6.26% $14,231
    Eagle Bank and Trust Company 17 6.12% $9,743
    MORTGAGE INVESTORS GROUP, INC. 17 6.40% $8,704
    Evolve Bank & Trust 16 6.52% $5,869
    Regions Bank 16 6.08% $7,987
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.41% $9,137
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 6.84% $9,218
    Paramount Residential Mortgage Group, Inc. 15 6.47% $8,138
    Pinnacle Bank 15 6.07% $11,236
    Citizens Bank 13 6.39% $12,003
    VILLAGE CAPITAL MORTGAGE 13 6.19% $7,220
    Renasant Bank 13 6.49% $8,122
    Bank of England 13 6.34% $11,816
    Mr. Cooper ( Nationstar Mortgage ) 13 5.87% $17,407
    MORTGAGE SOLUTIONS OF COLORADO, LLC 13 7.57% $8,947
    CROSSCOUNTRY MORTGAGE, LLC 13 7.11% $6,388
    Nations Lending Corporation 12 6.70% $4,224
    BROKER SOLUTIONS, INC. 12 6.55% $10,634
    BARTLETT MORTGAGE, INC. 12 6.15% $7,465
    Wolfe Financial, Inc 11 6.56% $9,968
    Barrington Bank & Trust Company, N.A. 11 6.66% $8,491
    FirstTrust Home Loans, Inc. 10 6.78% $6,206
    Equity Prime Mortgage LLC 9 6.72% $7,864
    GUILD MORTGAGE COMPANY 8 6.48% $12,151
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 8 6.73% $10,169
    Flagstar Bank, FSB 8 6.35% $11,847
    UNION HOME MORTGAGE CORP. 7 5.91% $11,518
    Mid-Continent Funding, Inc. 7 6.11% $9,110
    PENTAGON FEDERAL CREDIT UNION 7 5.79% $5,689
    BancorpSouth 7 6.29% $11,004
    EVERETT FINANCIAL, INC. 7 6.91% $9,431
    MUTUAL OF OMAHA MORTGAGE, INC. 6 5.81% $14,231
    CMG MORTGAGE, INC. 6 6.44% $11,292
    First Horizon Bank 6 6.44% $7,066
    RELIANCE FIRST CAPITAL, LLC 6 6.40% $8,274
    Wells Fargo Bank 6 5.69% $7,416
    Independent Bank 6 7.06% $6,962
    Plains Commerce Bank 5 5.68% $11,994
    Magnolia Bank 5 6.25% $18,179
    AMERISAVE MORTGAGE CORPORATION 5 6.08% $15,536
    GMFS LLC 5 6.33% $7,968
    NEWREZ LLC 5 6.53% $19,071
    NBKC BANK 5 5.53% $5,901
    SUN WEST MORTGAGE COMPANY, INC. 4 6.01% $3,792
    MOVEMENT MORTGAGE, LLC 4 6.47% $15,089
    CRESCENT MORTGAGE COMPANY 4 5.31% $7,535
    CORNERSTONE HOME LENDING, INC. 3 6.24% $2,331
    GUARANTEED RATE AFFINITY, LLC 3 6.48% $11,546
    MILEND, INC. 3 6.71% $12,162
    CONTOUR MORTGAGE CORPORATION 3 6.67% $25,692
    PLANET HOME LENDING, LLC 3 6.29% $6,799
    SWBC MORTGAGE CORPORATION 3 6.04% $6,327
    Truist 3 6.40% $4,984
    FBC MORTGAGE, LLC 2 4.99% $6,388
    VERITAS FUNDING, LLC 2 6.25% $17,744
    Century Mortgage Company DBA Century Lending Company 2 5.44% $6,994
    HOMESIDE FINANCIAL, LLC 2 7.00% $7,823
    PANORAMA MORTGAGE GROUP, LLC 2 6.13% $5,387
    JPMorgan Chase Bank 2 6.94% $2,533
    Financial Federal Bank 2 5.69% $6,308
    MORTGAGE FINANCIAL SERVICES, LLC 2 6.63% $7,558
    SOVEREIGN LENDING GROUP INCORPORATED 2 6.63% $15,759
    Armed Forces Bank 2 5.50% $13,965
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.50% $7,731
    Hometown Equity Mortgage, LLC 2 6.81% $5,118
    Franklin Loan Corporation 2 6.44% $12,810
    LOANPAL, LLC 2 6.56% $14,488
    FIRST COMMUNITY MORTGAGE, INC. 2 6.94% $9,126
    LAKEVIEW LOAN SERVICING, LLC 2 5.50% $14,536
    PINNACLE LENDING GROUP, INC. 1 7.88% $5,069
    GSF Mortgage Corporation 1 7.13% $11,461
    AMERICAN FINANCIAL NETWORK, INC. 1 6.88% $10,833
    Presidential Bank, FSB 1 6.75% $11,700
    BAYSHORE MORTGAGE FUNDING, LLC 1 5.75% $6,259
    Prosperity Home Mortgage, LLC 1 6.88% $8,930
    Bank of America 1 7.50% $4,022
    Arvest Bank 1 6.50% $24,637
    ROYAL UNITED MORTGAGE LLC 1 6.25% $8,734
    SeaTrust Mortgage Company 1 7.99% $16,488
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $9,824
    Simmons Bank 1 5.75% $4,873
    SOUTHERN TRUST MORTGAGE, LLC 1 6.50% $8,653
    Stock Yards Bank & Trust Company 1 6.50% $3,703
    Strong Home Mortgage, LLC 1 6.25% $1,882
    Sunflower Bank 1 5.99% $2,703
    First Citizens National Bank 1 6.25% $10,576
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $15,108
    THE MORTGAGE FIRM, INC. 1 6.25% $8,213
    TOP FLITE FINANCIAL, INC. 1 5.75% $13,735
    TruHome Solutions, LLC 1 6.63% $4,891
    ACOPIA, LLC 1 7.00% $9,440
    FIDELITY BANK 1 6.25% $15,404
    VAN DYK MORTGAGE CORPORATION 1 7.25% $5,987
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $16,354
    U.S. Bank 1 6.75% $3,894
    Leaders Credit Union 1 5.75% $22,235
    ENCORE BANK 1 6.63% $4,882
    LAND HOME FINANCIAL SERVICES, INC. 1 6.38% $8,244
    AmeriHome Mortgage Company, LLC 1 5.63% $13,867
    LADERA LENDING, INC. 1 6.50% $17,309
    Farmers Bank & Trust 1 5.25% $18,235
    Colonial Savings, F.A. 1 5.75% $36,898
    HOMESTAR FINANCIAL CORPORATION 1 5.75% $3,145
    Neighborhood Loans, Inc. 1 7.63% $7,082
    CBM Mortgage, Inc. 1 6.25% $10,093
    NFM, INC. 1 6.75% $6,011
    North American Savings Bank, F.S.B. 1 6.25% $2,484
    Northpointe Bank 1 6.25% $2,955
    ONY GLO, INC. 1 4.63% $16,902
    CALIBER HOME LOANS, INC. 1 5.75% $4,941
    CALCON MUTUAL MORTGAGE LLC 1 6.13% $6,166
    BOKF 1 7.00% $37,396
    GUARANTY HOME MORTGAGE CORPORATION 1 6.75% $8,677
    BNC National Bank 1 5.75% $2,702

    The top Memphis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 311 VA loans originated. Their average total fees are $6,476, which is $5,812 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Memphis VA lenders (with over 10 loans originated) are Nations Lending Corporation ($4,224), Evolve Bank & Trust ($5,869), GUARANTEED RATE, INC. ($6,171), FirstTrust Home Loans, Inc. ($6,206) and CROSSCOUNTRY MORTGAGE, LLC ($6,388).

    The lowest rate Memphis VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), PENNYMAC LOAN SERVICES, LLC (5.43%), NAVY FEDERAL CREDIT UNION (5.75%), Mr. Cooper ( Nationstar Mortgage ) (5.87%) and Patriot Bank (6.01%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Memphis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $186,375 (9.7%) $245,918 (5.7%) 0.69 3,814
    2018-02-01 $184,350 (8.5%) $242,774 (5.0%) 0.67 3,798
    2018-03-01 $185,000 (6.5%) $248,291 (5.6%) 0.65 3,799
    2018-04-01 $193,450 (7.5%) $255,176 (3.6%) 0.66 3,202
    2018-05-01 $199,950 (8.1%) $265,105 (5.2%) 0.67 3,161
    2018-06-01 $210,875 (8.5%) $267,469 (5.0%) 0.70 3,415
    2018-07-01 $212,700 (8.1%) $266,363 (4.4%) 0.71 3,759
    2018-08-01 $212,900 (9.2%) $265,195 (4.9%) 0.71 3,759
    2018-09-01 $212,000 (7.1%) $264,535 (4.2%) 0.71 3,761
    2018-10-01 $215,000 (11.2%) $267,139 (7.0%) 0.73 3,768
    2018-11-01 $210,000 (10.6%) $262,223 (5.1%) 0.71 3,732
    2018-12-01 $209,900 (12.9%) $256,634 (3.4%) 0.72 3,470
    2019-01-01 $204,925 (10.0%) $254,140 (3.3%) 0.71 3,141
    2019-02-01 $208,244 (13.0%) $257,728 (6.2%) 0.70 3,034
    2019-03-01 $214,186 (15.8%) $269,000 (8.3%) 0.70 2,968
    2019-04-01 $222,325 (14.9%) $280,584 (10.0%) 0.71 2,987
    2019-05-01 $230,000 (15.0%) $285,812 (7.8%) 0.72 3,001
    2019-06-01 $230,000 (9.1%) $288,883 (8.0%) 0.72 3,102
    2019-07-01 $231,075 (8.6%) $289,796 (8.8%) 0.72 3,245
    2019-08-01 $232,845 (9.4%) $289,702 (9.2%) 0.74 3,227
    2019-09-01 $231,189 (9.1%) $290,408 (9.8%) 0.74 3,194
    2019-10-01 $230,134 (7.0%) $291,712 (9.2%) 0.74 3,162
    2019-11-01 $232,700 (10.8%) $294,661 (12.4%) 0.76 3,093
    2019-12-01 $232,450 (10.7%) $292,234 (13.9%) 0.78 2,936
    2020-01-01 $228,200 (11.4%) $289,871 (14.1%) 0.76 2,744
    2020-02-01 $230,000 (10.5%) $295,406 (14.6%) 0.75 2,508
    2020-03-01 $242,735 (13.3%) $306,363 (13.9%) 0.76 2,390
    2020-04-01 $249,073 (12.0%) $312,663 (11.4%) 0.78 2,396
    2020-05-01 $249,900 (8.7%) $319,737 (11.9%) 0.76 2,225
    2020-06-01 $258,138 (12.2%) $330,546 (14.4%) 0.76 1,991
    2020-07-01 $261,900 (13.3%) $342,121 (18.1%) 0.76 1,811
    2020-08-01 $264,950 (13.8%) $339,364 (17.1%) 0.76 1,722
    2020-09-01 $259,906 (12.4%) $337,050 (16.1%) 0.74 1,614
    2020-10-01 $259,900 (12.9%) $339,376 (16.3%) 0.74 1,615
    2020-11-01 $257,500 (10.7%) $331,667 (12.6%) 0.75 1,552
    2020-12-01 $249,950 (7.5%) $320,577 (9.7%) 0.74 1,434
    2021-01-01 $240,000 (5.2%) $317,478 (9.5%) 0.72 1,261
    2021-02-01 $234,800 (2.1%) $320,566 (8.5%) 0.68 1,107
    2021-03-01 $238,900 (-1.6%) $328,999 (7.4%) 0.68 1,037
    2021-04-01 $239,950 (-3.7%) $331,027 (5.9%) 0.65 1,024
    2021-05-01 $239,900 (-4.0%) $325,602 (1.8%) 0.64 1,071
    2021-06-01 $242,875 (-5.9%) $322,398 (-2.5%) 0.64 1,189
    2021-07-01 $245,000 (-6.5%) $320,679 (-6.3%) 0.65 1,333
    2021-08-01 $249,900 (-5.7%) $325,344 (-4.1%) 0.67 1,441
    2021-09-01 $248,975 (-4.2%) $322,490 (-4.3%) 0.66 1,412
    2021-10-01 $265,000 (2.0%) $338,544 (-0.2%) 0.71 1,335
    2021-11-01 $257,500 (0.0%) $337,716 (1.8%) 0.69 1,283
    2021-12-01 $243,375 (-2.6%) $326,952 (2.0%) 0.66 1,235
    2022-01-01 $219,900 (-8.4%) $323,754 (2.0%) 0.59 1,089
    2022-02-01 $226,450 (-3.6%) $331,601 (3.4%) 0.59 960
    2022-03-01 $227,450 (-4.8%) $326,620 (-0.7%) 0.57 1,055
    2022-04-01 $246,700 (2.8%) $340,862 (3.0%) 0.59 1,152
    2022-05-01 $292,500 (21.9%) $366,848 (12.7%) 0.67 1,308
    2022-06-01 $305,000 (25.6%) $376,587 (16.8%) 0.68 1,586
    2022-07-01 $319,900 (30.6%) $376,112 (17.3%) 0.72 2,048
    2022-08-01 $313,000 (25.3%) $369,982 (13.7%) 0.72 2,207
    2022-09-01 $316,748 (27.2%) $370,822 (15.0%) 0.74 2,330
    2022-10-01 $319,950 (20.7%) $367,511 (8.6%) 0.75 2,586
    2022-11-01 $324,950 (26.2%) $369,171 (9.3%) 0.78 2,770
    2022-12-01 $325,000 (33.5%) $370,937 (13.5%) 0.80 2,658
    2023-01-01 $324,950 (47.8%) $364,778 (12.7%) 0.80 2,408
    2023-02-01 $323,190 (42.7%) $362,229 (9.2%) 0.78 2,267
    2023-03-01 $319,000 (40.3%) $355,899 (9.0%) 0.75 2,293
    2023-04-01 $324,900 (31.7%) $365,244 (7.2%) 0.76 2,334
    2023-05-01 $325,000 (11.1%) $369,570 (0.7%) 0.74 2,405
    2023-06-01 $327,138 (7.3%) $375,526 (-0.3%) 0.74 2,529
    2023-07-01 $325,000 (1.6%) $369,793 (-1.7%) 0.74 2,727
    2023-08-01 $320,950 (2.5%) $368,137 (-0.5%) 0.74 2,886
    2023-09-01 $310,000 (-2.1%) $360,107 (-2.9%) 0.72 3,159
    2023-10-01 $318,500 (-0.5%) $365,974 (-0.4%) 0.75 3,370
    2023-11-01 $319,925 (-1.6%) $368,490 (-0.2%) 0.76 3,464
    2023-12-01 $318,900 (-1.9%) $366,710 (-1.1%) 0.78 3,412
    2024-01-01 $320,450 (-1.4%) $369,275 (1.2%) 0.78 3,101
    2024-02-01 $324,500 (0.4%) $373,827 (3.2%) 0.78 3,070
    2024-03-01 $326,900 (2.5%) $377,008 (5.9%) 0.77 3,169
    2024-04-01 $339,450 (4.5%) $390,749 (7.0%) 0.79 3,248
    2024-05-01 $349,900 (7.7%) $407,429 (10.2%) 0.79 3,503
    2024-06-01 $347,935 (6.4%) $399,876 (6.5%) 0.78 3,876
    2024-07-01 $341,498 (5.1%) $395,880 (7.1%) 0.78 4,063
    2024-08-01 $339,000 (5.6%) $393,935 (7.0%) 0.79 4,176
    2024-09-01 $336,225 (8.5%) $390,577 (8.5%) 0.79 4,314
    2024-10-01 $334,900 (5.2%) $389,477 (6.4%) 0.79 4,402
    Memphis's median listing price for 2024-10-01 was $334,900, a difference of $16,400 (5.2%) versus the prior year and $-1,325 versus the prior month.

    Memphis's median listing price comes in at 79% of the national average.

    Memphis's average listing price for 2024-10-01 was $389,477, a difference of $23,503 (6.4%) versus the prior year and $-1,100 versus the prior month.

    For the 2024-10-01 period, Memphis had 4,402 MLS listings, a difference of 88 listings (2%) versus the prior month and 1,032 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Memphis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 76 days 2,115 sqft
    2018-02-01 69 days 2,096 sqft
    2018-03-01 50 days 2,084 sqft
    2018-04-01 51 days 2,102 sqft
    2018-05-01 50 days 2,116 sqft
    2018-06-01 47 days 2,157 sqft
    2018-07-01 48 days 2,147 sqft
    2018-08-01 54 days 2,186 sqft
    2018-09-01 57 days 2,200 sqft
    2018-10-01 59 days 2,223 sqft
    2018-11-01 61 days 2,247 sqft
    2018-12-01 67 days 2,228 sqft
    2019-01-01 75 days 2,200 sqft
    2019-02-01 70 days 2,201 sqft
    2019-03-01 60 days 2,230 sqft
    2019-04-01 51 days 2,265 sqft
    2019-05-01 47 days 2,279 sqft
    2019-06-01 51 days 2,244 sqft
    2019-07-01 51 days 2,193 sqft
    2019-08-01 53 days 2,205 sqft
    2019-09-01 54 days 2,212 sqft
    2019-10-01 55 days 2,234 sqft
    2019-11-01 59 days 2,258 sqft
    2019-12-01 67 days 2,257 sqft
    2020-01-01 74 days 2,240 sqft
    2020-02-01 72 days 2,250 sqft
    2020-03-01 55 days 2,328 sqft
    2020-04-01 52 days 2,303 sqft
    2020-05-01 56 days 2,300 sqft
    2020-06-01 52 days 2,317 sqft
    2020-07-01 47 days 2,278 sqft
    2020-08-01 45 days 2,409 sqft
    2020-09-01 44 days 2,399 sqft
    2020-10-01 43 days 2,403 sqft
    2020-11-01 46 days 2,415 sqft
    2020-12-01 52 days 2,367 sqft
    2021-01-01 59 days 2,400 sqft
    2021-02-01 57 days 2,226 sqft
    2021-03-01 50 days 2,256 sqft
    2021-04-01 39 days 2,196 sqft
    2021-05-01 35 days 2,269 sqft
    2021-06-01 34 days 2,146 sqft
    2021-07-01 35 days 2,170 sqft
    2021-08-01 38 days 2,200 sqft
    2021-09-01 40 days 2,225 sqft
    2021-10-01 33 days 2,186 sqft
    2021-11-01 38 days 2,192 sqft
    2021-12-01 44 days 2,313 sqft
    2022-01-01 47 days 2,249 sqft
    2022-02-01 39 days 2,129 sqft
    2022-03-01 36 days 2,090 sqft
    2022-04-01 32 days 2,200 sqft
    2022-05-01 31 days 2,428 sqft
    2022-06-01 30 days 2,500 sqft
    2022-07-01 31 days 2,451 sqft
    2022-08-01 38 days 2,418 sqft
    2022-09-01 42 days 2,312 sqft
    2022-10-01 45 days 2,285 sqft
    2022-11-01 50 days 2,245 sqft
    2022-12-01 61 days 2,274 sqft
    2023-01-01 71 days 2,277 sqft
    2023-02-01 67 days 2,248 sqft
    2023-03-01 53 days 2,248 sqft
    2023-04-01 47 days 2,250 sqft
    2023-05-01 43 days 2,243 sqft
    2023-06-01 44 days 2,262 sqft
    2023-07-01 44 days 2,225 sqft
    2023-08-01 46 days 2,209 sqft
    2023-09-01 46 days 2,169 sqft
    2023-10-01 50 days 2,200 sqft
    2023-11-01 56 days 2,210 sqft
    2023-12-01 63 days 2,250 sqft
    2024-01-01 73 days 2,262 sqft
    2024-02-01 68 days 2,225 sqft
    2024-03-01 51 days 2,236 sqft
    2024-04-01 48 days 2,258 sqft
    2024-05-01 47 days 2,331 sqft
    2024-06-01 49 days 2,376 sqft
    2024-07-01 52 days 2,249 sqft
    2024-08-01 59 days 2,284 sqft
    2024-09-01 62 days 2,217 sqft
    2024-10-01 64 days 2,216 sqft
    Memphis's median listing age (time on market) for 2024-10-01 was 64 days. This is 28% longer than the same period one year ago.

    Memphis's median square footage for active listings during the 2024-10-01 period was 2,216 sqft. One year prior, the average listing was 2,200 sqft.

    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.