Muskogee VA Loan Rates, Closing Costs & Stats

Muskogee, OK

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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.

    Muskogee's 31 lenders originated 105 VA loans during 2023. The total origination value was $23,775,000, with an average VA loan value of $226,429.

    Muskogee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Muskogee averaged 6.39% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Muskogee's average VA mortgage closing costs are $4,554.

    The average rate for the prior week (2024-11-01) was 6.35% and one month ago for the week of 2024-10-04, the average rate was 5.87%.

    The average rate one year ago was 7.23%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Muskogee 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 Muskogee level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 23 6.99% $3,980
    American Bank of Oklahoma 15 6.26% $5,750
    AXIA FINANCIAL, LLC 9 6.55% $6,620
    QUICKEN LOANS, LLC 5 6.42% $11,580
    FREEDOM MORTGAGE CORPORATION 4 6.63% $13,173
    NAVY FEDERAL CREDIT UNION 3 5.88% $4,802
    Arvest Bank 3 6.13% $4,206
    FLAT BRANCH MORTGAGE, INC. 3 6.71% $4,189
    NEW DAY FINANCIAL, LLC 3 7.58% $7,756
    USAA Federal Savings Bank 3 6.54% $5,612
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.69% $5,739
    GUILD MORTGAGE COMPANY 2 7.13% $12,366
    BancFirst 2 6.69% $6,370
    First United Bank and Trust Company 2 5.75% $12,008
    The Federal Savings Bank 1 6.25% $11,728
    UNITED WHOLESALE MORTGAGE, LLC 1 5.63% $13,826
    AMCAP MORTGAGE, LTD. 1 6.25% $7,880
    VILLAGE CAPITAL MORTGAGE 1 5.75% $9,478
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $2,923
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $4,429
    Armstrong Bank 1 6.63% $3,658
    ASSOCIATED MORTGAGE CORPORATION 1 6.25% $6,056
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $13,432
    Firstar Bank 1 7.38% $2,545
    GUARANTEED RATE, INC. 1 6.75% $2,553
    LOANPAL, LLC 1 6.38% $12,679
    Nations Lending Corporation 1 7.75% $26,894
    OPEN MORTGAGE, LLC 1 8.25% $0
    Plains Commerce Bank 1 5.88% $4,711
    Stride Bank 1 6.75% $999
    The Central Trust Bank 1 5.13% $1,989

    The top Muskogee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $3,980, which is $1,770 lower than the next largest lender, American Bank of Oklahoma.

    The lowest fee Muskogee VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,980), American Bank of Oklahoma ($5,750), .

    The lowest rate Muskogee VA lenders (with over 10 loans originated) are American Bank of Oklahoma (6.26%), Mortgage Research Center, LLC (6.99%), .

    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.