Philadelphia VA Loans

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

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.