Meridian VA Loan Rates, Closing Costs & Stats

Meridian, MS

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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.

    Meridian's 41 lenders originated 199 VA loans during 2024. The total origination value was $48,275,000, with an average VA loan value of $242,588.

    Meridian VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Meridian averaged 0.25% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Meridian's average VA mortgage closing costs are $5,766.

    The average rate for the prior week (2025-06-13) was 6.7% and one month ago for the week of 2025-05-16, the average rate was 6.76%.

    The average rate one year ago was 6.65%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.64%.

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

    Meridian 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 Meridian level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 49 6.47% $4,970
    Trustmark National Bank 34 6.32% $6,745
    NAVY FEDERAL CREDIT UNION 15 6.02% $6,244
    QUICKEN LOANS, LLC 11 6.27% $10,879
    UNITED WHOLESALE MORTGAGE, LLC 8 6.55% $11,551
    NEW DAY FINANCIAL, LLC 7 7.39% $8,508
    PENNYMAC LOAN SERVICES, LLC 6 5.67% $4,176
    Barrington Bank & Trust Company, N.A. 6 6.04% $4,478
    FIRST COLONY MORTGAGE CORPORATION 4 6.22% $4,273
    Renasant Bank 3 6.17% $6,964
    PLANET HOME LENDING, LLC 3 6.12% $2,850
    VILLAGE CAPITAL MORTGAGE 3 6.08% $4,291
    USAA Federal Savings Bank 3 5.75% $5,715
    The Citizens National Bank of Meridian 3 6.67% $11,673
    Regions Bank 2 5.94% $4,559
    FREEDOM MORTGAGE CORPORATION 2 6.31% $6,667
    GUARANTEED RATE, INC. 2 6.50% $5,631
    KEESLER 2 5.63% $5,095
    Mid-Continent Funding, Inc. 2 6.25% $4,528
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.50% $2,429
    NBKC BANK 2 6.25% $5,653
    Paramount Residential Mortgage Group, Inc. 2 5.94% $7,476
    MOVEMENT MORTGAGE, LLC 1 6.75% $9,464
    NEWREZ LLC 1 6.75% $2,061
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $16,211
    Paramount Bank 1 6.13% $3,252
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $7,502
    LOANDEPOT.COM, LLC 1 6.88% $8,481
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $14,958
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $8,982
    AmeriHome Mortgage Company, LLC 1 5.50% $5,622
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $2,806
    Cornerstone First Mortgage, Inc 1 6.25% $15,032
    T2 FINANCIAL LLC 1 7.25% $3,413
    CALCON MUTUAL MORTGAGE LLC 1 6.00% $2,940
    TOWNE MORTGAGE COMPANY 1 7.25% $4,454
    BROKER SOLUTIONS, INC. 1 6.75% $11,023
    UMB Bank 1 6.13% $5,136
    BankPlus 1 6.13% $3,451
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $9,653
    BancorpSouth 1 6.13% $11,495

    The top Meridian VA lender as defined by loan originations is Mortgage Research Center, LLC, with 49 VA loans originated. Their average total fees are $4,970, which is $1,775 lower than the next largest lender, Trustmark National Bank.

    The lowest fee Meridian VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,970), NAVY FEDERAL CREDIT UNION ($6,244), Trustmark National Bank ($6,745), QUICKEN LOANS, LLC ($10,879) and .

    The lowest rate Meridian VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (6.02%), QUICKEN LOANS, LLC (6.27%), Trustmark National Bank (6.32%), Mortgage Research Center, LLC (6.47%) and .

    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.