Monroe VA Loan Rates, Closing Costs & Stats

MONROE, LA

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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.

    Monroe's 40 lenders originated 202 VA loans during 2024. The total origination value was $51,990,000, with an average VA loan value of $257,376.

    Monroe VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Monroe averaged 0.64% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Monroe's average VA mortgage closing costs are $5,055.

    The average rate for the prior week (2025-06-13) was 6.99% and one month ago for the week of 2025-05-16, the average rate was 6.85%.

    The average rate one year ago was 6.85%.

    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.

    Monroe 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 Monroe level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 33 6.63% $3,911
    Eagle Bank and Trust Company 16 6.53% $4,676
    FREEDOM MORTGAGE CORPORATION 14 6.33% $3,857
    QUICKEN LOANS, LLC 12 6.15% $8,152
    PENNYMAC LOAN SERVICES, LLC 11 5.55% $7,277
    UNITED WHOLESALE MORTGAGE, LLC 11 5.92% $7,940
    Assurance Financial Group, L.L.C. 10 6.49% $8,569
    DSLD MORTGAGE, LLC 9 5.70% $3,638
    NEW DAY FINANCIAL, LLC 9 7.51% $9,028
    MOVEMENT MORTGAGE, LLC 8 6.55% $5,436
    NEWREZ LLC 7 6.21% $3,883
    GMFS LLC 7 6.23% $4,363
    PLANET HOME LENDING, LLC 5 6.38% $1,513
    NAVY FEDERAL CREDIT UNION 5 5.95% $3,039
    LOANDEPOT.COM, LLC 4 6.96% $3,753
    USAA Federal Savings Bank 4 6.63% $4,712
    Origin Bank 4 5.91% $3,453
    Equity Prime Mortgage LLC 3 6.25% $13,417
    GUILD MORTGAGE COMPANY 3 6.21% $9,305
    Barrington Bank & Trust Company, N.A. 2 7.50% $2,429
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.69% $8,070
    Mr. Cooper ( Nationstar Mortgage ) 2 6.75% $8,696
    Wells Fargo Bank 1 6.63% $3,488
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.00% $5,976
    CLEARPATH LENDING 1 5.13% $10,047
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $9,813
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.63% $2,280
    FIDELITY BANK 1 6.63% $66
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $17,467
    First Federal Bank 1 6.25% $3,902
    GENEVA FINANCIAL, LLC 1 7.13% $6,347
    GUARANTEED RATE, INC. 1 5.65% $3,041
    Lakeview Community Capital, LLC 1 6.25% $4,243
    Magnolia Bank 1 5.99% $10,504
    Merchants Bank of Indiana 1 6.49% $4,506
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $4,301
    Regions Bank 1 6.25% $3,780
    STOCKTON MORTGAGE CORPORATION 1 7.25% $3,060
    UNION HOME MORTGAGE CORP. 1 6.13% $12,245
    VILLAGE CAPITAL MORTGAGE 1 5.75% $2,196

    The top Monroe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 33 VA loans originated. Their average total fees are $3,911, which is $765 lower than the next largest lender, Eagle Bank and Trust Company.

    The lowest fee Monroe VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($3,857), Mortgage Research Center, LLC ($3,911), Eagle Bank and Trust Company ($4,676), PENNYMAC LOAN SERVICES, LLC ($7,277) and UNITED WHOLESALE MORTGAGE, LLC ($7,940).

    The lowest rate Monroe VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.55%), UNITED WHOLESALE MORTGAGE, LLC (5.92%), QUICKEN LOANS, LLC (6.15%), FREEDOM MORTGAGE CORPORATION (6.33%) and Assurance Financial Group, L.L.C. (6.49%).

    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.