Morristown VA Loan Rates, Closing Costs & Stats

MORRISTOWN, TN

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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.

    Morristown's 78 lenders originated 352 VA loans during 2024. The total origination value was $111,820,000, with an average VA loan value of $317,670.

    Morristown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morristown averaged 0.33% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Morristown's average VA mortgage closing costs are $6,182.

    The average rate for the prior week (2025-06-13) was 6.68% and one month ago for the week of 2025-05-16, the average rate was 6.84%.

    The average rate one year ago was 7.04%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.25%.

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

    Morristown 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 Morristown level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 52 6.51% $5,535
    UNITED WHOLESALE MORTGAGE, LLC 42 6.04% $7,770
    FREEDOM MORTGAGE CORPORATION 22 6.20% $7,538
    QUICKEN LOANS, LLC 22 6.07% $10,462
    CMG MORTGAGE, INC. 15 6.05% $10,499
    DHI MORTGAGE COMPANY, LTD. 13 6.01% $6,372
    MORTGAGE INVESTORS GROUP, INC. 9 6.37% $7,216
    STOCKTON MORTGAGE CORPORATION 8 4.88% $11,182
    NEW DAY FINANCIAL, LLC 8 7.70% $17,410
    UNION HOME MORTGAGE CORP. 7 6.46% $6,703
    PENNYMAC LOAN SERVICES, LLC 7 5.75% $8,155
    NAVY FEDERAL CREDIT UNION 7 5.73% $2,904
    NEWREZ LLC 6 6.25% $5,923
    The Federal Savings Bank 6 6.06% $23,321
    LOANDEPOT.COM, LLC 5 5.75% $12,721
    LAKEVIEW LOAN SERVICING, LLC 5 5.75% $5,585
    MOVEMENT MORTGAGE, LLC 4 5.94% $11,683
    USAA Federal Savings Bank 4 6.72% $4,840
    CROSSCOUNTRY MORTGAGE, LLC 4 6.56% $9,312
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.97% $9,399
    VILLAGE CAPITAL MORTGAGE 4 5.97% $4,507
    FirstBank 3 6.46% $6,763
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.17% $2,657
    Equity Prime Mortgage LLC 3 5.92% $9,107
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.96% $11,607
    GUARANTEED RATE, INC. 2 5.50% $8,215
    CARDINAL FINANCIAL 2 7.25% $10,409
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.06% $2,230
    Truist 2 5.63% $4,140
    ROSS MORTGAGE CORPORATION 2 6.37% $5,800
    BROKER SOLUTIONS, INC. 2 6.38% $4,780
    PLANET HOME LENDING, LLC 2 6.06% $2,196
    FIRST COLONY MORTGAGE CORPORATION 2 6.00% $10,344
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.13% $3,583
    Paramount Residential Mortgage Group, Inc. 2 6.69% $3,804
    Mr. Cooper ( Nationstar Mortgage ) 2 7.00% $7,785
    GVC MORTGAGE, INC. 2 6.81% $6,323
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.31% $17,310
    Waterstone Mortgage Corporation 1 7.75% $8,596
    1ST SIGNATURE LENDING, LLC 1 6.63% $22,407
    Wolfe Financial, Inc 1 5.25% $6,439
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $18,670
    AmeriHome Mortgage Company, LLC 1 6.13% $3,613
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $25,623
    Barrington Bank & Trust Company, N.A. 1 6.25% $1,991
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $7,748
    Century Mortgage Company DBA Century Lending Company 1 5.25% $7,438
    Citizens Bank 1 6.75% $22,299
    CLEARPATH LENDING 1 5.50% $3,746
    CORNERSTONE HOME LENDING, INC. 1 7.75% $6,243
    DIRECT MORTGAGE LOANS, LLC 1 4.88% $14,138
    EVERETT FINANCIAL, INC. 1 5.25% $6,149
    First Horizon Bank 1 6.25% $10,647
    GENEVA FINANCIAL, LLC 1 6.25% $30,934
    GUARANTEED RATE AFFINITY, LLC 1 5.75% $5,306
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.75% $14,654
    GUILD MORTGAGE COMPANY 1 6.63% $19,869
    HomePromise Corporation 1 7.13% $0
    HOMESIDE FINANCIAL, LLC 1 6.13% $8,015
    INTERCOASTAL MORTGAGE COMPANY 1 6.25% $6,778
    JMJ FINANCIAL GROUP 1 5.63% $4,507
    LADERA LENDING, INC. 1 5.75% $21,949
    Magnolia Bank 1 5.99% $19,115
    MID AMERICA MORTGAGE, INC. 1 7.25% $4,739
    Mid-Continent Funding, Inc. 1 4.88% $5,196
    MILEND, INC. 1 6.63% $8,860
    PLAZA HOME MORTGAGE, INC. 1 7.25% $16,592
    ROYAL UNITED MORTGAGE LLC 1 6.00% $11,975
    S1L, Inc. 1 6.63% $6,545
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $4,127
    SOUTHWEST FUNDING, LP 1 5.88% $5,376
    SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $7,207
    The Central Trust Bank 1 6.00% $17,014
    The Huntington National Bank 1 6.75% $3,745
    The Loan Store, Inc. 1 5.25% $10,861
    U.S. Bank 1 5.75% $7,114
    VAN DYK MORTGAGE CORPORATION 1 5.13% $13,380
    VERITAS FUNDING, LLC 1 6.25% $13,252

    The top Morristown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $5,535, which is $2,235 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Morristown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,535), DHI MORTGAGE COMPANY, LTD. ($6,372), FREEDOM MORTGAGE CORPORATION ($7,538), UNITED WHOLESALE MORTGAGE, LLC ($7,770) and QUICKEN LOANS, LLC ($10,462).

    The lowest rate Morristown VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), CMG MORTGAGE, INC. (6.05%), QUICKEN LOANS, LLC (6.07%) and FREEDOM MORTGAGE CORPORATION (6.20%).

    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.