Mobile VA Loan Rates, Closing Costs & Stats

MOBILE, AL

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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.

    Mobile's 101 lenders originated 831 VA loans during 2024. The total origination value was $221,395,000, with an average VA loan value of $266,420.

    Mobile VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mobile averaged 0.26% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Mobile's average VA mortgage closing costs are $5,127.

    The average rate for the prior week (2025-06-13) was 6.6% and one month ago for the week of 2025-05-16, the average rate was 6.56%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.01%.

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

    Mobile 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 Mobile level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 135 6.49% $3,736
    DHI MORTGAGE COMPANY, LTD. 68 4.83% $4,720
    QUICKEN LOANS, LLC 58 6.06% $8,648
    UNITED WHOLESALE MORTGAGE, LLC 53 5.83% $7,165
    FREEDOM MORTGAGE CORPORATION 34 6.22% $7,559
    NAVY FEDERAL CREDIT UNION 27 5.91% $4,281
    PENNYMAC LOAN SERVICES, LLC 19 5.57% $5,982
    NEW DAY FINANCIAL, LLC 17 7.74% $8,372
    MORTGAGE SOLUTIONS OF COLORADO, LLC 17 6.93% $3,225
    Trustmark National Bank 16 6.27% $3,791
    GMFS LLC 16 6.55% $5,257
    EMBRACE HOME LOANS, INC. 14 6.51% $5,234
    USAA Federal Savings Bank 14 6.19% $7,150
    TOWNE MORTGAGE COMPANY 13 6.28% $11,928
    VILLAGE CAPITAL MORTGAGE 13 5.64% $6,629
    NEWREZ LLC 10 6.09% $4,866
    SWBC MORTGAGE CORPORATION 9 6.36% $6,360
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.40% $7,683
    LOANDEPOT.COM, LLC 8 6.25% $11,171
    STOCKTON MORTGAGE CORPORATION 8 6.66% $7,535
    Paramount Residential Mortgage Group, Inc. 8 6.03% $3,859
    Renasant Bank 7 6.34% $4,902
    BROKER SOLUTIONS, INC. 7 6.46% $6,534
    UNION HOME MORTGAGE CORP. 7 6.29% $7,156
    Hancock Whitney Bank 6 6.06% $6,140
    Barrington Bank & Trust Company, N.A. 6 6.58% $5,212
    CLEARPATH LENDING 6 5.73% $3,454
    Princeton Mortgage Corporation 6 6.31% $6,266
    Plains Commerce Bank 6 6.54% $7,155
    CROSSCOUNTRY MORTGAGE, LLC 6 6.60% $7,079
    FirstBank 6 6.40% $3,111
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.46% $8,140
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.43% $4,495
    MOVEMENT MORTGAGE, LLC 5 6.65% $8,547
    LOANPAL, LLC 4 5.72% $14,025
    Mr. Cooper ( Nationstar Mortgage ) 4 6.41% $4,325
    PENTAGON FEDERAL CREDIT UNION 4 5.72% $7,713
    BankPlus 4 6.16% $6,909
    CARDINAL FINANCIAL 4 6.19% $8,823
    Equity Prime Mortgage LLC 3 6.46% $5,264
    American Mortgage Bank, LLC 3 5.67% $4,569
    Armed Forces Bank 3 6.42% $9,788
    FBC MORTGAGE, LLC 3 3.99% $1,742
    Flagstar Bank, FSB 3 6.58% $4,565
    JMAC LENDING, INC. 3 6.13% $5,656
    KEESLER 3 5.88% $3,126
    Mid-Continent Funding, Inc. 3 6.62% $7,847
    PLANET HOME LENDING, LLC 3 6.12% $4,604
    Presidential Bank, FSB 3 6.58% $6,159
    Prosperity Home Mortgage, LLC 3 5.83% $7,634
    Regions Bank 3 6.38% $5,293
    STAUNTON FINANCIAL, INC. 3 6.54% $11,724
    SUN WEST MORTGAGE COMPANY, INC. 3 6.63% $7,518
    The Federal Savings Bank 3 6.42% $11,134
    Truist 3 5.71% $10,897
    Tyndall Federal Credit Union 3 6.17% $5,528
    City National Bank of Florida 2 5.87% $3,853
    NORWICH COMMERCIAL GROUP, INC. 2 6.25% $2,239
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $8,178
    NFM, INC. 2 6.56% $6,384
    PHH Mortgage Corporation 2 5.74% $6,182
    Bank of England 2 6.81% $4,225
    JPMorgan Chase Bank 2 6.75% $6,866
    North American Savings Bank, F.S.B. 2 6.19% $7,461
    Lakeview Community Capital, LLC 2 5.44% $4,681
    LAKEVIEW LOAN SERVICING, LLC 2 5.88% $7,352
    Carrington Mortgage Services, LLC 2 5.81% $5,998
    Wells Fargo Bank 2 6.44% $6,368
    NBKC BANK 2 5.94% $11,706
    AmeriHome Mortgage Company, LLC 2 6.38% $3,537
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.75% $1,887
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.00% $3,865
    GUARANTEED RATE, INC. 2 6.88% $5,738
    CMG MORTGAGE, INC. 1 8.75% $3,540
    RADIUS FINANCIAL GROUP INC. 1 6.75% $6,336
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $8,332
    ROYAL UNITED MORTGAGE LLC 1 7.25% $18,260
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $1,289
    BELEM SERVICING LLC 1 5.99% $5,982
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $10,659
    Century Mortgage Company DBA Century Lending Company 1 5.75% $5,953
    LEADERONE FINANCIAL CORPORATION 1 6.75% $5,777
    HOMETRUST MORTGAGE COMPANY 1 6.25% $215
    HomePromise Corporation 1 7.50% $800
    GUILD MORTGAGE COMPANY 1 6.63% $1,405
    M&T Bank 1 6.00% $6,149
    FLAT BRANCH MORTGAGE, INC. 1 6.25% $3,190
    First Federal Bank, A FSB 1 6.25% $4,980
    First Federal Bank 1 6.25% $0
    FIRST COMMUNITY MORTGAGE, INC. 1 6.49% $5,787
    Northpointe Bank 1 6.13% $11,117
    OPEN MORTGAGE, LLC 1 7.75% $857
    Farmers Bank & Trust 1 6.38% $13,060
    Pen Air Federal Credit Union 1 6.63% $5,490
    EVERETT FINANCIAL, INC. 1 7.63% $7,123
    Academy Bank 1 6.63% $10,513
    CORNERSTONE HOME LENDING, INC. 1 7.63% $75
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $5,694
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $5,851
    Community Bank of Mississippi 1 6.25% $10,597
    CANOPY MORTGAGE, LLC 1 6.75% $13,097

    The top Mobile VA lender as defined by loan originations is Mortgage Research Center, LLC, with 135 VA loans originated. Their average total fees are $3,736, which is $984 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Mobile VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($3,225), Mortgage Research Center, LLC ($3,736), Trustmark National Bank ($3,791), NAVY FEDERAL CREDIT UNION ($4,281) and DHI MORTGAGE COMPANY, LTD. ($4,720).

    The lowest rate Mobile VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.83%), PENNYMAC LOAN SERVICES, LLC (5.57%), VILLAGE CAPITAL MORTGAGE (5.64%), UNITED WHOLESALE MORTGAGE, LLC (5.83%) and NAVY FEDERAL CREDIT UNION (5.91%).

    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.