Mobile VA Loan Rates, Closing Costs & Stats

MOBILE, AL

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.