Payson VA Loan Rates, Closing Costs & Stats

Payson, AZ

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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.

    Payson's 30 lenders originated 77 VA loans during 2023. The total origination value was $26,115,000, with an average VA loan value of $339,156.

    Payson VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Payson averaged 6.55% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Payson's average VA mortgage closing costs are $6,094.

    The average rate for the prior week (2024-11-01) was 6.9% and one month ago for the week of 2024-10-04, the average rate was 6.13%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Payson 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 Payson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 13 6.62% $6,483
    UNITED WHOLESALE MORTGAGE, LLC 8 6.21% $8,606
    QUICKEN LOANS, LLC 8 5.75% $16,069
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.91% $12,104
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.06% $12,635
    LOANDEPOT.COM, LLC 3 6.62% $11,537
    NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.71% $10,179
    FREEDOM MORTGAGE CORPORATION 3 6.58% $22,253
    GUILD MORTGAGE COMPANY 3 6.92% $12,908
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.88% $10,706
    NAVY FEDERAL CREDIT UNION 2 5.63% $10,497
    NEW DAY FINANCIAL, LLC 2 7.69% $6,830
    SUN AMERICAN MORTGAGE COMPANY 2 7.13% $7,572
    PLAZA HOME MORTGAGE, INC. 1 6.25% $3,339
    USAA Federal Savings Bank 1 5.13% $40,795
    V.I.P. MORTGAGE, INC. 1 5.99% $2,216
    ALTITUDE FINANCIAL CORPORATION 1 6.63% $10,998
    Waterstone Mortgage Corporation 1 6.63% $18,776
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $5,879
    BAY EQUITY LLC 1 6.13% $10,145
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $10,624
    INTERLINC MORTGAGE SERVICES, LLC 1 7.38% $15,651
    LOANPAL, LLC 1 6.38% $15,196
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $7,306
    Neighborhood Loans, Inc. 1 7.13% $17,341
    NEWREZ LLC 1 5.63% $9,855
    Northpointe Bank 1 6.75% $5,347
    Paramount Residential Mortgage Group, Inc. 1 6.25% $5,201
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $5,832
    PENTAGON FEDERAL CREDIT UNION 1 6.88% $8,393

    The top Payson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 13 VA loans originated. Their average total fees are $6,483, which is $2,123 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Payson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,483), .

    The lowest rate Payson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.62%), .

    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.