Pensacola VA Loan Rates, Closing Costs & Stats

PENSACOLA-FERRY PASS-BRENT, FL

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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.

    Pensacola's 176 lenders originated 3,241 VA loans during 2023. The total origination value was $1,111,235,000, with an average VA loan value of $342,868.

    Pensacola VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Pensacola averaged 5.87% for the week of 2024-10-25, compared to the national average (all VA variants) of 6.14% for the same period.

    Pensacola's average VA mortgage closing costs are $6,699.

    The average rate for the prior week (2024-10-18) was 6.09% and one month ago for the week of 2024-09-20, the average rate was 5.19%.

    The average rate one year ago was 7.51%.

    For refis of the same type during the week of 2024-10-25, the average rate was 6.79%.

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

    Pensacola 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 Pensacola level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 460 5.36% $5,788
    Mortgage Research Center, LLC 284 6.62% $8,418
    NAVY FEDERAL CREDIT UNION 244 5.76% $7,600
    UNITED WHOLESALE MORTGAGE, LLC 207 6.20% $9,833
    QUICKEN LOANS, LLC 145 6.06% $13,209
    University Bank 120 6.22% $9,566
    BROKER SOLUTIONS, INC. 112 6.19% $9,997
    MOVEMENT MORTGAGE, LLC 83 6.55% $9,335
    Paramount Residential Mortgage Group, Inc. 81 5.87% $9,139
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 73 6.30% $10,054
    THE MORTGAGE FIRM, INC. 65 6.61% $10,395
    EAGLE HOME MORTGAGE, LLC 65 5.10% $6,470
    SWBC MORTGAGE CORPORATION 63 6.26% $8,467
    USAA Federal Savings Bank 50 6.16% $9,242
    FREEDOM MORTGAGE CORPORATION 47 6.45% $15,211
    LOANDEPOT.COM, LLC 46 5.99% $14,482
    PRIMELENDING, A PLAINSCAPITAL COMPANY 44 6.26% $10,830
    CMG MORTGAGE, INC. 35 6.38% $14,772
    NEW DAY FINANCIAL, LLC 34 7.40% $16,059
    DSLD MORTGAGE, LLC 29 5.90% $7,326
    PENNYMAC LOAN SERVICES, LLC 28 5.78% $10,711
    NBKC BANK 27 5.78% $9,917
    GUARANTEED RATE AFFINITY, LLC 25 6.29% $10,101
    GUARANTEED RATE, INC. 22 6.04% $6,323
    MORTGAGE ONE OF THE SOUTH, INC. 22 5.92% $6,041
    PENTAGON FEDERAL CREDIT UNION 21 5.40% $10,993
    CROSSCOUNTRY MORTGAGE, LLC 21 6.48% $11,662
    Mr. Cooper ( Nationstar Mortgage ) 21 5.93% $15,651
    FIDELITY BANK 20 6.41% $5,414
    THRIVE MORTGAGE, LLC 19 6.72% $11,892
    PRIMARY RESIDENTIAL MORTGAGE, INC. 16 6.52% $11,818
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 16 6.32% $10,444
    Plains Commerce Bank 15 6.10% $11,543
    Synovus Bank 15 6.34% $6,272
    Equity Prime Mortgage LLC 13 6.91% $8,977
    Regions Bank 13 6.40% $11,266
    Century Mortgage Company DBA Century Lending Company 13 6.10% $8,428
    UNION HOME MORTGAGE CORP. 12 6.79% $10,644
    Waterstone Mortgage Corporation 12 6.44% $15,910
    AMERICAN FINANCIAL NETWORK, INC. 12 6.63% $11,479
    NEWREZ LLC 12 6.20% $11,783
    MORTGAGE SOLUTIONS OF COLORADO, LLC 12 7.35% $7,103
    The Federal Savings Bank 10 6.53% $16,711
    DAS Acquisition Company, LLC 10 6.94% $7,090
    CARDINAL FINANCIAL 10 5.94% $12,702
    Barrington Bank & Trust Company, N.A. 10 6.22% $9,301
    Ameris Bank 10 6.58% $12,858
    VILLAGE CAPITAL MORTGAGE 10 6.05% $12,824
    Citizens Bank 10 5.70% $8,221
    GUILD MORTGAGE COMPANY 10 6.75% $11,502
    Truist 9 5.85% $8,852
    AMERISAVE MORTGAGE CORPORATION 9 5.96% $20,057
    FIRST COMMUNITY MORTGAGE, INC. 8 5.41% $9,418
    Mid-Continent Funding, Inc. 7 6.27% $10,633
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.34% $13,260
    CBM Mortgage, Inc. 7 5.84% $12,022
    Bank of England 6 6.63% $12,910
    CANOPY MORTGAGE, LLC 6 6.98% $13,369
    BNC National Bank 6 5.46% $13,567
    Wells Fargo Bank 6 6.33% $8,454
    Trustmark National Bank 6 6.21% $4,602
    HOMETRUST MORTGAGE COMPANY 6 6.08% $6,644
    FBC MORTGAGE, LLC 5 5.54% $6,094
    LOANPAL, LLC 5 5.63% $14,960
    INSPIRE HOME LOANS INC. 5 5.98% $5,543
    OPEN MORTGAGE, LLC 5 6.13% $6,550
    CHURCHILL MORTGAGE CORPORATION 5 6.48% $9,917
    Centennial Bank 5 6.35% $15,146
    KELLER MORTGAGE, LLC 5 5.93% $13,484
    ZILLOW HOME LOANS, LLC 4 6.03% $8,584
    DRAPER AND KRAMER MORTGAGE CORP. 4 6.34% $10,103
    LAKEVIEW LOAN SERVICING, LLC 4 6.44% $11,481
    NFM, INC. 4 6.78% $13,383
    North American Savings Bank, F.S.B. 4 5.75% $8,947
    STOCKTON MORTGAGE CORPORATION 4 5.88% $9,805
    SUN WEST MORTGAGE COMPANY, INC. 4 6.53% $10,941
    EVERETT FINANCIAL, INC. 3 6.71% $9,756
    NexBank 3 5.79% $13,088
    First Federal Bank 3 6.13% $11,607
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $9,032
    Flagstar Bank, FSB 3 6.46% $7,867
    HOMESTAR FINANCIAL CORPORATION 3 6.42% $10,375
    TOWNE MORTGAGE COMPANY 3 6.96% $5,711
    Towne Bank 3 6.00% $10,158
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.33% $11,248
    United Fidelity Funding Corp. 3 5.75% $13,607
    BankPlus 3 6.79% $6,784
    Prosperity Home Mortgage, LLC 3 6.17% $19,904
    Ixonia Bank 3 6.63% $8,932
    GoPrime Mortgage, Inc. 3 5.92% $7,416
    GERSHMAN INVESTMENT CORP. 3 6.00% $7,580
    CONTOUR MORTGAGE CORPORATION 3 7.04% $16,137
    PLANET HOME LENDING, LLC 3 5.96% $15,271
    Pen Air Federal Credit Union 3 6.04% $6,141
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.87% $4,939
    JPMorgan Chase Bank 2 5.37% $11,985
    LADERA LENDING, INC. 2 6.13% $13,804
    Lakeview Community Capital, LLC 2 5.69% $12,448
    LENOX FINANCIAL MORTGAGE CORPORATION 2 5.63% $11,912
    NATIONS DIRECT MORTGAGE, LLC 2 5.88% $16,581
    Nations Lending Corporation 2 6.44% $10,421
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.25% $19,864
    CERTAINTY HOME LOANS, LLC 2 5.56% $2,363
    Renasant Bank 2 5.81% $8,029
    RESIDENTIAL BANCORP 2 6.25% $8,701
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 7.00% $7,704
    SOVEREIGN LENDING GROUP INCORPORATED 2 5.31% $10,032
    SUCCESS MORTGAGE PARTNERS, INC. 2 7.38% $13,607
    ACADEMY MORTGAGE CORPORATION 2 7.25% $9,298
    CALIBER HOME LOANS, INC. 2 6.25% $7,215
    The Central Trust Bank 2 5.63% $11,692
    Bell Bank 2 6.19% $9,560
    United Community Bank 2 5.25% $10,456
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.38% $12,320
    HomePromise Corporation 2 7.69% $23,511
    GENEVA FINANCIAL, LLC 1 6.63% $10,344
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $8,984
    ALLIED MORTGAGE GROUP, INC. 1 6.00% $8,864
    Northpointe Bank 1 5.75% $18,414
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $5,444
    OCEANSIDE MORTGAGE COMPANY 1 6.13% $11,184
    ONY GLO, INC. 1 6.75% $15,367
    MID AMERICA MORTGAGE, INC. 1 7.13% $22,462
    EMM LOANS LLC 1 5.75% $11,112
    MICHIGAN MUTUAL, INC. 1 6.50% $24,580
    DG PINNACLE FUNDING LLC 1 5.13% $3,692
    CORNERSTONE HOME LENDING, INC. 1 9.50% $4,077
    PHH Mortgage Corporation 1 5.88% $17,102
    Core Bank 1 7.13% $6,540
    Meridian Bank Corporation 1 6.75% $7,963
    PLAZA HOME MORTGAGE, INC. 1 5.75% $11,078
    PREMIA MORTGAGE, LLC 1 6.00% $4,420
    Presidential Bank, FSB 1 6.25% $6,423
    Magnolia Bank 1 7.00% $15,643
    COMMUNITY MORTGAGE CORPORATION 1 7.25% $2,822
    Lend Smart Mortgage, LLC 1 6.25% $7,098
    Citibank 1 6.25% $18,377
    BancorpSouth 1 6.88% $8,215
    Armed Forces Bank 1 5.63% $15,451
    AmeriHome Mortgage Company, LLC 1 6.25% $8,023
    RESOURCE FINANCIAL SERVICES, INC. 1 6.13% $14,523
    ROYAL UNITED MORTGAGE LLC 1 6.75% $14,919
    SeaTrust Mortgage Company 1 5.50% $6,926
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $17,248
    Service Federal Credit Union 1 6.50% $6,146
    Carrington Mortgage Services, LLC 1 6.75% $1,477
    Integrity Home Mortgage Corp 1 6.88% $20,539
    INTERCAP LENDING INC. 1 7.13% $7,140
    Alliance Credit Union 1 6.63% $6,946
    Strong Home Mortgage, LLC 1 5.49% $12,856
    INTELLILOAN, INC. 1 6.13% $3,355
    HOMESTEAD FUNDING CORP. 1 5.38% $13,244
    AMERICAN FINANCING CORPORATION 1 6.25% $4,197
    Cache Valley Bank 1 5.63% $15,920
    T2 FINANCIAL LLC 1 6.75% $11,795
    HOMESIDE FINANCIAL, LLC 1 7.75% $3,983
    HOMESPIRE MORTGAGE CORPORATION 1 7.75% $2,227
    The Loan Store, Inc. 1 5.63% $10,514
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.25% $9,308
    U.S. Bank 1 5.63% $16,536
    MORTGAGE ACCESS CORP. 1 6.75% $3,778
    MORTGAGEONE, INC. 1 6.75% $4,636
    Gateway First Bank 1 6.63% $13,946
    MORIA DEVELOPMENT, INC. 1 6.13% $18,715
    First United Bank and Trust Company 1 7.63% $6,465
    First Liberty Bank 1 5.75% $4,601
    First Horizon Bank 1 6.13% $3,510
    MILEND, INC. 1 6.75% $22,370
    TJC Mortgage, Inc. 1 6.63% $8,908
    KeyBank 1 6.75% $7,326
    Hancock Whitney Bank 1 6.00% $16,042
    First Federal Bank, A FSB 1 6.00% $8,277
    MID-ISLAND MORTGAGE CORP. 1 6.13% $11,894
    NETWORK CAPITAL FUNDING CORPORATION 1 4.63% $2,608
    FIRST COLONY MORTGAGE CORPORATION 1 6.75% $4,823
    Farmers Bank & Trust 1 5.00% $1,792

    The top Pensacola VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 460 VA loans originated. Their average total fees are $5,788, which is $2,630 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Pensacola VA lenders (with over 10 loans originated) are FIDELITY BANK ($5,414), DHI MORTGAGE COMPANY, LTD. ($5,788), MORTGAGE ONE OF THE SOUTH, INC. ($6,041), Synovus Bank ($6,272) and GUARANTEED RATE, INC. ($6,323).

    The lowest rate Pensacola VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.10%), DHI MORTGAGE COMPANY, LTD. (5.36%), PENTAGON FEDERAL CREDIT UNION (5.40%), Citizens Bank (5.70%) and NAVY FEDERAL CREDIT UNION (5.76%).

    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.