Nashville VA Loan Rates, Closing Costs & Stats

NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN

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.

Nashville's 187 lenders originated 2,519 VA loans during 2023. The total origination value was $1,073,615,000, with an average VA loan value of $426,207.

Nashville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Nashville averaged -0.08% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Nashville's average VA mortgage closing costs are $7,105.

The average rate for the prior week (2024-06-14) was 6.52% and one month ago for the week of 2024-05-17, the average rate was 6.51%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.33%.

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

Nashville 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 Nashville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 276 6.56% $7,810
UNITED WHOLESALE MORTGAGE, LLC 201 6.17% $11,167
QUICKEN LOANS, LLC 149 6.09% $13,618
CMG MORTGAGE, INC. 103 6.37% $14,834
NAVY FEDERAL CREDIT UNION 84 5.77% $8,018
FIRST COMMUNITY MORTGAGE, INC. 72 6.26% $11,010
LOANDEPOT.COM, LLC 66 5.92% $15,317
NVR Mortgage Finance, Inc. 62 5.42% $8,348
FREEDOM MORTGAGE CORPORATION 60 6.26% $19,106
DHI MORTGAGE COMPANY, LTD. 55 5.37% $6,312
PENNYMAC LOAN SERVICES, LLC 52 5.70% $12,228
USAA Federal Savings Bank 48 6.20% $10,973
Legacy Home Loans, LLC 45 6.34% $10,476
The Federal Savings Bank 41 6.13% $22,830
EAGLE HOME MORTGAGE, LLC 36 5.46% $4,738
SeaTrust Mortgage Company 34 6.38% $10,549
GUARANTEED RATE, INC. 34 6.06% $6,285
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 29 6.44% $14,756
ROSS MORTGAGE CORPORATION 28 6.38% $11,249
FirstBank 28 6.10% $10,505
Mr. Cooper ( Nationstar Mortgage ) 27 5.92% $16,043
CROSSCOUNTRY MORTGAGE, LLC 27 6.66% $11,363
MOVEMENT MORTGAGE, LLC 26 6.32% $12,224
NEW DAY FINANCIAL, LLC 26 7.40% $17,991
ACOPIA, LLC 22 5.98% $10,001
BROKER SOLUTIONS, INC. 21 6.41% $15,717
CHURCHILL MORTGAGE CORPORATION 20 6.28% $14,451
PULTE MORTGAGE LLC 20 5.66% $9,597
VANDERBILT MORTGAGE AND FINANCE, INC. 18 6.49% $8,223
SWBC MORTGAGE CORPORATION 17 6.25% $9,720
AMERISAVE MORTGAGE CORPORATION 16 5.55% $30,455
AMERICAN PACIFIC MORTGAGE CORPORATION 15 6.28% $14,859
CapStar Bank 15 6.38% $11,429
CARDINAL FINANCIAL 15 6.44% $20,445
F&M Bank 15 6.03% $10,226
VILLAGE CAPITAL MORTGAGE 14 5.86% $14,813
MUTUAL OF OMAHA MORTGAGE, INC. 14 6.56% $12,388
NEWREZ LLC 14 6.34% $8,521
Citizens Bank 14 6.05% $15,282
INSPIRE HOME LOANS INC. 14 5.37% $9,918
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 7.43% $5,696
PENTAGON FEDERAL CREDIT UNION 13 5.42% $10,834
MORTGAGE INVESTORS GROUP, INC. 13 5.94% $13,414
INTERLINC MORTGAGE SERVICES, LLC 12 6.72% $15,334
CORNERSTONE HOME LENDING, INC. 12 6.23% $12,593
PRIMARY RESIDENTIAL MORTGAGE, INC. 12 6.25% $10,716
PLANET HOME LENDING, LLC 12 5.82% $6,918
Paramount Residential Mortgage Group, Inc. 10 6.32% $12,779
Pinnacle Bank 10 5.98% $10,239
NBKC BANK 10 6.03% $4,844
STOCKTON MORTGAGE CORPORATION 10 6.03% $10,843
Ameris Bank 10 6.25% $9,426
Regions Bank 9 5.99% $9,080
ISERVE RESIDENTIAL LENDING, LLC 9 6.46% $15,900
Wilson Bank And Trust 9 5.99% $8,314
U.S. Bank 9 5.78% $11,179
HOMEAMERICAN MORTGAGE CORPORATION 9 5.40% $4,077
Legends Bank 8 6.31% $9,462
Flagstar Bank, FSB 8 6.55% $9,311
United Community Bank 8 6.02% $7,441
Wells Fargo Bank 7 5.43% $16,542
FirstTrust Home Loans, Inc. 7 6.55% $7,668
SUN WEST MORTGAGE COMPANY, INC. 7 6.30% $14,527
SUCCESS MORTGAGE PARTNERS, INC. 7 6.14% $16,155
Barrington Bank & Trust Company, N.A. 7 6.16% $8,800
HOMESIDE FINANCIAL, LLC 7 6.30% $13,793
EUSTIS AND AMERICAN MORTGAGE COMPANY 7 6.96% $14,022
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.19% $7,311
THRIVE MORTGAGE, LLC 6 6.38% $16,607
Bank of Tennessee 6 6.17% $7,751
RELIANCE FIRST CAPITAL, LLC 6 6.08% $13,942
Fifth Third Bank 6 6.10% $4,595
The First National Bank of Middle Tennessee 6 6.42% $11,570
Magnolia Bank 6 6.04% $18,474
Nations Lending Corporation 5 6.60% $12,396
Equity Prime Mortgage LLC 5 6.73% $16,301
CASTLE & COOKE MORTGAGE, LLC 5 6.25% $14,671
GUILD MORTGAGE COMPANY 5 6.20% $7,234
UNION HOME MORTGAGE CORP. 5 6.60% $11,243
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.25% $5,927
JPMorgan Chase Bank 5 5.90% $5,621
BNC National Bank 5 5.55% $7,666
PREMIA MORTGAGE, LLC 4 5.81% $11,035
CANOPY MORTGAGE, LLC 4 6.22% $17,334
LAKEVIEW LOAN SERVICING, LLC 4 5.66% $13,178
COMMUNITY MORTGAGE CORPORATION 4 6.12% $10,046
First Horizon Bank 4 6.41% $7,462
First Federal Bank 4 6.41% $5,700
EVANSVILLE TEACHERS 4 6.59% $9,337
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.50% $11,044
Plains Commerce Bank 4 6.09% $11,305
DAS Acquisition Company, LLC 3 5.92% $12,847
EVERETT FINANCIAL, INC. 3 7.00% $11,410
AMCAP MORTGAGE, LTD. 3 5.92% $9,069
The Central Trust Bank 3 5.50% $16,518
FIRST EQUITY MORTGAGE INCORPORATED 3 5.62% $10,950
T2 FINANCIAL LLC 3 7.08% $7,585
Bell Bank 3 6.29% $7,244
BAY EQUITY LLC 3 5.54% $7,994
Ixonia Bank 3 6.75% $12,342
ASCEND FEDERAL CREDIT UNION 3 6.58% $4,439
AMERICAN FINANCIAL NETWORK, INC. 3 6.42% $12,690
LOANPAL, LLC 3 5.42% $15,658
Mid-Continent Funding, Inc. 3 6.25% $13,633
Credence Funding Corporation 3 5.79% $7,516
THE MORTGAGE FIRM, INC. 3 6.46% $5,423
RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 6.37% $13,930
AMERICAN FINANCIAL RESOURCES, INC. 2 6.50% $7,601
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.25% $14,090
Armed Forces Bank 2 5.75% $15,117
Bank of England 2 6.50% $10,182
CBM Mortgage, Inc. 2 6.94% $15,909
DELMAR FINANCIAL COMPANY 2 5.88% $15,071
ENDEAVOR CAPITAL, LLC. 2 6.75% $15,676
Franklin Loan Corporation 2 6.44% $22,097
GUARANTY HOME MORTGAGE CORPORATION 2 6.31% $9,146
PLAZA HOME MORTGAGE, INC. 2 7.25% $3,695
Presidential Bank, FSB 2 5.88% $6,900
REDSTONE Federal Credit Union 2 6.44% $16,991
Renasant Bank 2 6.19% $4,743
RESIDENTIAL HOME FUNDING CORP. 2 5.68% $6,419
Strong Home Mortgage, LLC 2 6.94% $15,756
SUMMIT FUNDING, INC. 2 7.25% $26,353
The Loan Store, Inc. 2 6.25% $13,665
TOP FLITE FINANCIAL, INC. 2 6.31% $20,053
VAN DYK MORTGAGE CORPORATION 2 5.75% $17,728
POINT Mortgage 1 6.25% $17,603
MID AMERICA MORTGAGE, INC. 1 6.13% $5,435
Capital City Home Loans, LLC 1 6.75% $2,768
Preston Home Loans Inc 1 6.63% $17,132
MANN FINANCIAL INC. 1 7.63% $5,247
LEADERONE FINANCIAL CORPORATION 1 5.63% $9,921
Prosperity Home Mortgage, LLC 1 6.25% $5,426
LAND HOME FINANCIAL SERVICES, INC. 1 6.63% $26,166
LADERA LENDING, INC. 1 6.25% $14,017
Wyndham Capital Mortgage, Inc. 1 5.25% $10,899
KELLER MORTGAGE, LLC 1 5.25% $8,383
INTERNATIONAL CITY MORTGAGE, INC. 1 7.13% $10,925
Vellum Mortgage, Inc. 1 6.75% $10,589
BancorpSouth 1 6.00% $361
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.13% $32,259
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.99% $8,222
ROYAL UNITED MORTGAGE LLC 1 6.88% $11,954
RUOFF MORTGAGE COMPANY, INC. 1 6.75% $2,559
Sandy Spring Bank 1 6.75% $3,148
Hawthorn Bank 1 5.75% $3,536
SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $18,568
SHELTER LENDING SERVICES, L.L.C. 1 6.75% $685
Simmons Bank 1 7.25% $3,321
SIRVA MORTGAGE, INC. 1 6.88% $6,795
SOUTHWEST STAGE FUNDING, LLC 1 6.38% $4,532
SOVEREIGN LENDING GROUP INCORPORATED 1 5.75% $15,981
Hancock Whitney Bank 1 5.63% $2,372
American Security Mortgage Corp. 1 6.13% $5,080
GUARANTEED RATE AFFINITY, LLC 1 6.23% $3,950
West Gate Bank 1 5.75% $738
Sunflower Bank 1 5.49% $12,729
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.99% $11,545
GENEVA FINANCIAL, LLC 1 5.75% $13,959
Synovus Bank 1 6.25% $9,045
Fortera Federal Credit Union 1 7.25% $9,422
TEXAS TECH 1 5.88% $650
FIRST COLONY MORTGAGE CORPORATION 1 7.75% $9,558
EMBRACE HOME LOANS, INC. 1 5.99% $19,689
EASTMAN 1 6.88% $7,108
Willamette Valley Bank 1 7.25% $20,623
DATA MORTGAGE, INC. 1 7.25% $7,027
CONTOUR MORTGAGE CORPORATION 1 7.50% $13,560
ALAMEDA MORTGAGE CORPORATION 1 5.75% $15,076
TOWNE MORTGAGE COMPANY 1 6.63% $3,397
Truist 1 5.90% $15,608
Trustmark National Bank 1 5.50% $13,545
COMPASS MORTGAGE, INC. 1 6.63% $10,372
COMMUNITY MORTGAGE, LLC 1 6.75% $178
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.13% $6,957
COMMUNITYAMERICA 1 6.63% $2,475
CIBM Bank 1 6.25% $11,890
OCMBC, INC. 1 6.50% $18,350
Neighborhood Loans, Inc. 1 5.63% $11,418
NATIONS DIRECT MORTGAGE, LLC 1 6.75% $11,394
MORTGAGEONE, INC. 1 6.50% $418
PHH Mortgage Corporation 1 5.63% $6,778
MORTGAGE ACCESS CORP. 1 5.75% $6,006
MILEND, INC. 1 6.75% $18,043
Midwest BankCentre 1 6.50% $9,279
Carrington Mortgage Services, LLC 1 7.13% $3,807
PNC Bank 1 6.75% $7,281

The top Nashville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 276 VA loans originated. Their average total fees are $7,810, which is $3,357 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Nashville VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($4,738), NBKC BANK ($4,844), MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,696), GUARANTEED RATE, INC. ($6,285) and DHI MORTGAGE COMPANY, LTD. ($6,312).

The lowest rate Nashville VA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.37%), DHI MORTGAGE COMPANY, LTD. (5.37%), PENTAGON FEDERAL CREDIT UNION (5.42%), NVR Mortgage Finance, Inc. (5.42%) and EAGLE HOME MORTGAGE, LLC (5.46%).

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.