Philadelphia VA Loans

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

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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 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.

    Philadelphia's 261 lenders originated 12,232 VA loans during 2021. The total origination value was $3,616,140,000, with an average VA loan value of $295,629.

    Philadelphia VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Philadelphia averaged 5.26% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

    The average rate for the prior week (2022-07-29) was 5.41% and one month ago for the week of 2022-07-01, the average rate was 5.64%.

    The average rate one year ago was 3.22%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.37%.

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

    Philadelphia VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Philadelphia level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 1,095 2.86% $7,530
    QUICKEN LOANS, LLC 954 2.47% $5,639
    FREEDOM MORTGAGE CORPORATION 855 2.47% $3,581
    PENNYMAC LOAN SERVICES, LLC 517 2.37% $6,503
    NAVY FEDERAL CREDIT UNION 405 2.49% $6,981
    NEW DAY FINANCIAL, LLC 342 2.79% $9,099
    USAA Federal Savings Bank 284 2.86% $5,465
    LOANDEPOT.COM, LLC 276 2.56% $6,181
    UNITED WHOLESALE MORTGAGE, LLC 251 2.53% $7,157
    CROSSCOUNTRY MORTGAGE, LLC 226 2.84% $8,534
    LAKEVIEW LOAN SERVICING, LLC 208 2.50% $3,644
    VILLAGE CAPITAL & INVESTMENT LLC 200 2.33% $4,507
    CALIBER HOME LOANS, INC. 186 2.53% $5,407
    HOME POINT FINANCIAL CORPORATION 163 2.51% $7,164
    Mr. Cooper ( Nationstar Mortgage ) 154 2.75% $4,333
    Wells Fargo Bank 154 2.51% $5,332
    The Federal Savings Bank 148 2.57% $8,429
    CLEARPATH LENDING 143 2.38% $4,919
    NEWREZ LLC 143 2.62% $5,881
    GREENTREE MORTGAGE COMPANY, L.P. 133 2.73% $8,394
    GUARANTEED RATE, INC. 128 2.64% $7,858
    MOVEMENT MORTGAGE, LLC 119 2.78% $7,926
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 105 2.89% $8,351
    Prosperity Home Mortgage, LLC 104 2.69% $9,921
    NVR Mortgage Finance, Inc. 93 2.77% $9,325
    Low VA Rates, LLC 83 2.43% $4,747
    AMERICAN FINANCIAL NETWORK, INC. 75 2.75% $12,504
    ALLIED MORTGAGE GROUP, INC. 73 2.91% $6,991
    Barrington Bank & Trust Company, N.A. 68 2.87% $5,312
    PENTAGON FEDERAL CREDIT UNION 67 2.39% $3,120
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 66 2.90% $7,584
    Meridian Bank Corporation 65 2.65% $7,772
    Citizens Bank 63 2.62% $7,451
    Carrington Mortgage Services, LLC 62 3.21% $5,757
    FINANCE OF AMERICA MORTGAGE LLC 62 2.90% $9,475
    AMERISAVE MORTGAGE CORPORATION 61 2.63% $8,289
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 57 3.09% $7,557
    NFM, INC. 57 2.99% $9,890
    HOMEBRIDGE FINANCIAL SERVICES, INC. 56 2.68% $8,409
    Huntingdon Valley Bank 55 2.84% $8,522
    ACCELERATE MORTGAGE, LLC 53 2.18% $7,593
    BROKER SOLUTIONS, INC. 53 2.70% $7,795
    PLANET HOME LENDING, LLC 45 2.64% $4,268
    Gateway First Bank 45 3.03% $8,012
    NATION ONE MORTGAGE CORPORATION 43 3.61% $9,549
    InterContinental Capital Group, Inc 42 2.43% $4,883
    RESIDENTIAL MORTGAGE SERVICES, INC. 40 2.78% $8,349
    NBKC BANK 39 2.49% $5,815
    MORTGAGE ACCESS CORP. 38 2.87% $9,008
    GUARANTEED RATE AFFINITY, LLC 37 2.54% $7,040
    Lakeview Community Capital, LLC 37 2.57% $3,677
    North American Savings Bank, F.S.B. 36 2.43% $7,193
    Mortgage America, Inc. 36 2.89% $8,324
    MUTUAL OF OMAHA MORTGAGE, INC. 32 2.62% $7,655
    First Guaranty Mortgage Corporation 32 2.46% $5,518
    Magnolia Bank 32 2.67% $10,440
    SUCCESS MORTGAGE PARTNERS, INC. 32 2.98% $9,442
    PIKE CREEK MORTGAGE SERVICES, INC. 31 3.94% $5,314
    Nations Lending Corporation 31 2.76% $10,756
    Paramount Residential Mortgage Group, Inc. 30 2.98% $6,065
    NP, Inc. 30 2.36% $5,814
    EMBRACE HOME LOANS, INC. 30 2.66% $6,232
    Keystone Funding, Inc. 26 2.56% $7,199
    SUN WEST MORTGAGE COMPANY, INC. 26 2.49% $6,151
    ABSOLUTE HOME MORTGAGE CORPORATION 26 2.87% $10,857
    SOVEREIGN LENDING GROUP INCORPORATED 25 2.53% $5,654
    Mid-Continent Funding, Inc. 25 2.83% $7,736
    EMM LOANS LLC 24 2.75% $8,736
    BNC National Bank 23 2.28% $5,599
    Equity Prime Mortgage LLC 23 3.11% $8,576
    Flagstar Bank, FSB 23 2.74% $6,304
    CMG MORTGAGE, INC. 22 3.10% $10,828
    Northpointe Bank 21 2.74% $7,387
    Advisors Mortgage Group, L.L.C. 20 2.74% $9,468
    First Federal Bank 20 2.87% $10,449
    First Home Bank 19 2.83% $6,916
    UNION HOME MORTGAGE CORP. 18 2.43% $7,908
    PRIMARY RESIDENTIAL MORTGAGE, INC. 18 3.04% $6,423
    Republic Bank 18 2.71% $9,520
    Acre Mortgage and Financial Inc 17 3.04% $11,185
    DHI MORTGAGE COMPANY, LTD. 16 2.62% $9,731
    AmeriHome Mortgage Company, LLC 16 2.76% $3,315
    Summit Mortgage Corporation 16 2.79% $10,368
    CONTOUR MORTGAGE CORPORATION 16 2.48% $6,132
    US MORTGAGE CORPORATION 15 2.87% $6,176
    APEX HOME LOANS, INC. 15 2.85% $6,546
    ENVOY MORTGAGE, LTD 15 3.15% $9,700
    PNC Bank 15 2.94% $5,822
    KS StateBank 13 2.38% $3,826
    DRAPER AND KRAMER MORTGAGE CORP. 13 2.52% $7,383
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 2.87% $11,141
    LENDUS, LLC 13 3.02% $13,639
    AmRes Corporation 12 2.43% $5,200
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 12 2.80% $8,637
    Capital Bank 11 2.39% $5,633
    Wilmington Savings Fund Society, FSB 11 2.78% $11,159
    GUILD MORTGAGE COMPANY 10 3.23% $9,832
    NJ LENDERS CORP. 10 2.64% $10,313
    PLAZA HOME MORTGAGE, INC. 10 2.61% $6,554
    FIRST HOME MORTGAGE CORPORATION 10 2.69% $7,323
    Florida Capital Bank 10 2.65% $9,037
    SOUTHERN TRUST MORTGAGE, LLC 10 2.96% $7,817
    AMERICAN HERITAGE FCU 10 3.00% $8,840
    Mid Penn Bank 9 2.99% $9,696
    Philadelphia Mortgage Advisors, Inc. 9 3.01% $10,227
    Strong Home Mortgage, LLC 9 2.43% $4,195
    Wyndham Capital Mortgage, Inc. 9 2.39% $3,733
    EAGLE HOME MORTGAGE, LLC 9 2.81% $10,502
    ACADEMY MORTGAGE CORPORATION 9 2.79% $9,499
    1st Colonial Community Bank 8 2.78% $10,704
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 2.81% $6,347
    Bank of England 8 3.05% $12,756
    GUARANTY HOME MORTGAGE CORPORATION 8 2.64% $10,748
    HOMESIDE FINANCIAL, LLC 8 2.65% $10,952
    PHH Mortgage Corporation 8 3.09% $4,221
    Presidential Bank, FSB 8 2.69% $10,512
    TJC Mortgage, Inc. 8 2.25% $7,061
    Univest Bank and Trust Co. 8 2.91% $11,039
    LOANPAL, LLC 7 2.59% $3,779
    AMERICAN FINANCING CORPORATION 7 2.55% $7,612
    DEVELOPER'S MORTGAGE COMPANY 7 2.84% $6,540
    Plains Commerce Bank 7 2.64% $6,281
    Princeton Mortgage Corporation 7 2.77% $8,092
    NATIONWIDE MORTGAGE BANKERS, INC. 6 3.15% $12,261
    U.S. Bank 6 2.94% $7,580
    OCMBC, INC. 6 2.75% $8,877
    Manufacturers and Traders Trust Company 6 2.65% $3,995
    Atlantic Home Loans, Inc. 6 2.81% $6,269
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 6 2.79% $5,948
    Evesham Mortgage, LLC 6 2.85% $6,253
    Northeast Equitable Mortgage, LLC 6 2.56% $13,048
    Quaint Oak Mortgage, LLC 6 2.81% $13,712
    TBI MORTGAGE COMPANY 6 2.58% $9,608
    First Federal Bank of Kansas City 6 2.29% $6,209
    Prime Choice Funding Inc. 6 2.17% $5,164
    Fulton Bank 6 2.69% $5,604
    TOWNE MORTGAGE COMPANY 6 2.83% $10,329
    Truist Bank 6 2.73% $4,323
    PREMIA MORTGAGE, LLC 5 2.58% $2,933
    BAYSHORE MORTGAGE FUNDING, LLC 5 2.93% $8,143
    Bank of America 5 2.68% $6,745
    George Mason Mortgage, LLC 5 2.55% $10,079
    FAMILY FIRST FUNDING LLC 5 2.97% $5,986
    Mortgage Network, Inc. 5 2.88% $7,556
    CHERRY CREEK MORTGAGE, LLC 5 2.33% $8,790
    Credence Funding Corporation 5 2.30% $2,618
    Paramount Bank 5 2.68% $7,594
    West Town Bank & Trust 5 2.60% $7,905
    RESIDENTIAL HOME FUNDING CORP. 4 2.88% $9,411
    KELLER MORTGAGE, LLC 4 2.66% $14,060
    UNITED MORTGAGE CORP. 4 2.75% $8,923
    NETWORK CAPITAL FUNDING CORPORATION 4 2.56% $3,950
    TIDEWATER MORTGAGE SERVICES, INC. 4 3.16% $4,445
    RELIANCE FIRST CAPITAL, LLC 4 3.03% $10,997
    First Mortgage Solutions, LLC 4 2.47% $3,688
    Evolve Bank & Trust 4 2.94% $3,402
    Towne Bank 4 2.66% $12,934
    CELEBRITY HOME LOANS, LLC 4 2.72% $7,097
    Hometown Lenders, Inc. 3 3.08% $6,977
    First Internet Bank of Indiana 3 2.58% $5,384
    ROYAL UNITED MORTGAGE LLC 3 3.04% $4,011
    Santander Bank, N.A. 3 2.63% $7,201
    Sierra Pacific Mortgage Company, Inc. 3 2.33% $6,713
    SIWELL, INC. 3 2.46% $8,392
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 4.04% $4,463
    STEARNS LENDING, LLC 3 2.63% $9,548
    Atlantic Coast Mortgage, LLC 3 2.79% $26,697
    Sunflower Bank 3 2.33% $7,303
    TD Bank 3 3.08% $8,908
    The Ephrata National Bank 3 2.83% $11,599
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 3 2.67% $10,808
    JPMorgan Chase Bank 3 2.83% $8,775
    Home Mortgage Alliance Corp 3 3.25% $10,041
    HOMESPIRE MORTGAGE CORPORATION 3 2.46% $5,953
    HOMESTEAD FUNDING CORP. 3 2.29% $1,798
    FEDERATED LENDING CORPORATION 3 3.17% $13,049
    EVERETT FINANCIAL, INC. 3 2.96% $16,012
    MCLEAN MORTGAGE CORPORATION 3 2.54% $7,295
    MID AMERICA MORTGAGE, INC. 3 2.96% $5,121
    Community First National Bank 3 2.50% $5,443
    Commerce Home Mortgage, Inc. 3 2.58% $3,558
    RAPID MORTGAGE COMPANY 3 2.83% $8,597
    PANORAMA MORTGAGE GROUP, LLC 2 3.06% $11,633
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.56% $8,846
    ZILLOW HOME LOANS, LLC 2 2.56% $8,831
    MDE Home Loans, LLC 2 2.88% $15,070
    First Savings Bank 2 2.25% $3,767
    RESIDENTIAL BANCORP. 2 2.50% $12,847
    Amerifirst Financial, Inc. 2 2.94% $8,822
    Sandy Spring Bank 2 3.00% $4,533
    Firstrust Savings Bank 2 2.69% $4,459
    UNITED SECURITY FINANCIAL CORP 2 2.00% $6,205
    BEST CAPITAL FUNDING 2 3.50% $14,110
    Colonial Savings, F.A. 2 3.25% $8,559
    Financial Freedom Mortgage, LLC 2 3.13% $7,212
    LEADERONE FINANCIAL CORPORATION 2 3.25% $9,369
    Home Loan Investment Bank, F.S.B. 2 2.38% $4,652
    INTERCAP LENDING INC. 2 2.94% $10,099
    CHURCHILL MORTGAGE CORPORATION 2 2.63% $10,738
    The Huntington National Bank 2 2.75% $7,694
    FirstBank 2 2.31% $6,902
    Texana Bank 2 2.38% $14,415
    GENEVA FINANCIAL, LLC 2 2.88% $15,691
    SWBC MORTGAGE CORPORATION 2 3.25% $5,222
    FBC MORTGAGE, LLC 2 2.25% $5,262
    EQUITY RESOURCES, INC. 2 2.44% $3,417
    AMERICAN ADVISORS GROUP 2 2.50% $5,090
    FIRST HERITAGE FINANCIAL, LLC 2 2.94% $3,104
    Goldwater Bank, N.A. 2 2.25% $4,862
    Ameris Bank 1 2.88% $10,211
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 3.25% $22,887
    INTERCOASTAL MORTGAGE COMPANY 1 2.63% $14,503
    HARTFORD FUNDING, LTD. 1 3.25% $7,446
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.75% $15,114
    HANSCOM 1 3.00% $2,817
    GSF Mortgage Corporation 1 3.25% $5,417
    LADERA LENDING, INC. 1 2.50% $3,704
    Leader Bank 1 2.50% $16,097
    LEGEND LENDING CORPORATION 1 3.00% $2,788
    LENOX FINANCIAL MORTGAGE CORPORATION 1 2.50% $2,178
    LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $4,003
    LOANFLIGHT LENDING, LLC 1 2.37% $2,039
    Foote Capital Mortgage Company 1 2.75% $4,609
    FM Home Loans, LLC 1 2.75% $13,535
    First Option Mortgage, LLC 1 3.75% $0
    MILEND, INC. 1 2.75% $14,939
    MISSION MORTGAGE LLC 1 2.50% $2,192
    MLD MORTGAGE INC. 1 3.38% $4,664
    Mortgage Unlimited, L.L.C. 1 2.50% $8,143
    First Bank 1 2.75% $4,438
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.25% $4,191
    NATIONS DIRECT MORTGAGE, LLC 1 3.38% $5,814
    Fifth Third Bank 1 3.13% $5,781
    FIDELITY DIRECT MORTGAGE, LLC 1 2.50% $4,113
    NORWICH COMMERCIAL GROUP, INC. 1 2.75% $6,147
    DIRECT MORTGAGE LOANS, LLC 1 2.75% $8,114
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,131
    Customers Bank 1 2.50% $10,557
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.13% $5,268
    Willamette Valley Bank 1 3.13% $12,094
    Pinnacle Bank 1 2.63% $12,029
    CityWorth Mortgage LLC 1 2.88% $5,187
    POLARIS HOME FUNDING CORP. 1 2.75% $3,962
    AMCAP MORTGAGE, LTD. 1 2.50% $9,739
    Cf Bank 1 2.50% $5,367
    BOKF 1 2.50% $2,310
    Blue Ridge Bank 1 3.13% $2,545
    Shamrock Home Loans, Inc. 1 3.38% $12,780
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.25% $9,703
    BAY CAPITAL MORTGAGE CORPORATION 1 2.75% $3,660
    Armed Forces Bank 1 2.25% $2,825
    The Central Trust Bank 1 2.38% $1,940
    ARC HOME LLC 1 2.38% $6,917
    THRIVE MORTGAGE, LLC 1 3.25% $5,340
    TIAA, FSB 1 2.50% $7,046
    TOP FLITE FINANCIAL, INC. 1 2.38% $14,878
    Union Savings Bank 1 2.25% $1,376
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.25% $4,138
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $15,209
    Waterstone Mortgage Corporation 1 3.25% $26,629
    Homesale Mortgage, LLC 1 2.63% $4,853

    The top Philadelphia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,095 VA loans originated. Their average total fees are $7,530, which is $1,891 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Philadelphia VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($3,120), AmeriHome Mortgage Company, LLC ($3,315), FREEDOM MORTGAGE CORPORATION ($3,581), LAKEVIEW LOAN SERVICING, LLC ($3,644) and Lakeview Community Capital, LLC ($3,677).

    The lowest rate Philadelphia VA lenders (with over 10 loans originated) are ACCELERATE MORTGAGE, LLC (2.18%), BNC National Bank (2.28%), VILLAGE CAPITAL & INVESTMENT LLC (2.33%), NP, Inc. (2.36%) and PENNYMAC LOAN SERVICES, LLC (2.37%).

    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.