Portland VA Loan Rates, Closing Costs & Stats

PORTLAND-SOUTH PORTLAND, ME

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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.

    Portland's 75 lenders originated 568 VA loans during 2024. The total origination value was $250,550,000, with an average VA loan value of $441,109.

    Portland VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Portland averaged 0.72% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Portland's average VA mortgage closing costs are $6,737.

    The average rate for the prior week (2025-06-13) was 7.07% and one month ago for the week of 2025-05-16, the average rate was 7.03%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.24%.

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

    Portland 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 Portland level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 92 6.00% $8,847
    Mortgage Research Center, LLC 64 6.31% $7,760
    CMG MORTGAGE, INC. 60 6.19% $8,174
    QUICKEN LOANS, LLC 32 5.98% $12,790
    FREEDOM MORTGAGE CORPORATION 29 6.26% $14,004
    NAVY FEDERAL CREDIT UNION 29 5.91% $7,986
    GUILD MORTGAGE COMPANY 24 6.15% $9,080
    USAA Federal Savings Bank 15 6.23% $8,536
    NEWREZ LLC 15 5.77% $10,013
    LOANDEPOT.COM, LLC 12 6.09% $12,320
    NORTHPOINT MORTGAGE, INC. 11 6.14% $10,207
    LAKEVIEW LOAN SERVICING, LLC 11 5.88% $6,759
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.53% $7,457
    The Federal Savings Bank 8 5.98% $21,984
    HARBORONE MORTGAGE, LLC 8 6.39% $7,968
    BROKER SOLUTIONS, INC. 7 6.34% $7,992
    NEW DAY FINANCIAL, LLC 7 7.30% $16,757
    CROSSCOUNTRY MORTGAGE, LLC 6 6.40% $12,159
    The Camden National Bank 6 5.77% $5,717
    PENNYMAC LOAN SERVICES, LLC 6 5.75% $11,334
    EMM LOANS LLC 5 6.63% $11,375
    Century Mortgage Company DBA Century Lending Company 5 6.38% $3,975
    ENVOY MORTGAGE, LTD 4 5.78% $9,873
    MOVEMENT MORTGAGE, LLC 4 6.38% $5,764
    Bangor Savings Bank 4 5.83% $8,218
    Mr. Cooper ( Nationstar Mortgage ) 3 6.21% $14,253
    CUSO MORTGAGE CORPORATION 3 5.57% $10,023
    Ixonia Bank 3 6.38% $5,475
    Carrington Mortgage Services, LLC 3 5.79% $11,350
    GUARANTEED RATE AFFINITY, LLC 3 6.21% $12,095
    VILLAGE CAPITAL MORTGAGE 3 5.25% $4,653
    First Federal Bank 3 5.63% $19,959
    GUARANTEED RATE, INC. 2 5.86% $6,146
    Service Federal Credit Union 2 6.19% $9,199
    GENEVA FINANCIAL, LLC 2 6.31% $9,641
    PENTAGON FEDERAL CREDIT UNION 2 5.88% $6,466
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.99% $4,545
    NORWICH COMMERCIAL GROUP, INC. 2 6.25% $4,689
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $9,915
    Presidential Bank, FSB 2 6.19% $5,711
    Waterstone Mortgage Corporation 1 7.25% $2,220
    AMERICAN FINANCING CORPORATION 1 5.63% $18,625
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $6,265
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $14,040
    Androscoggin Savings Bank 1 6.13% $3,867
    Armed Forces Bank 1 5.75% $3,648
    Barrington Bank & Trust Company, N.A. 1 7.25% $8,553
    Bath Savings Institution 1 5.45% $2,678
    CARDINAL FINANCIAL 1 6.75% $62,559
    Citizens Bank 1 6.50% $5,300
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $4,404
    Flagstar Bank, FSB 1 6.50% $5,542
    HANSCOM 1 6.75% $3,220
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.25% $11,462
    JPMorgan Chase Bank 1 6.75% $1,865
    Keystone Funding, Inc. 1 6.25% $8,123
    Magnolia Bank 1 5.75% $28,890
    MLD MORTGAGE INC. 1 5.75% $12,590
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $12,024
    NBKC BANK 1 5.38% $2,790
    NEW FED MORTGAGE, CORP. 1 7.25% $11,675
    North American Savings Bank, F.S.B. 1 6.00% $12,106
    North Shore Bank of Commerce 1 6.50% $2,824
    Paramount Residential Mortgage Group, Inc. 1 6.25% $22,845
    PHH Mortgage Corporation 1 6.13% $3,188
    Plains Commerce Bank 1 6.63% $18,030
    PREMIA MORTGAGE, LLC 1 6.23% $15,418
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $10,406
    RADIUS FINANCIAL GROUP INC. 1 5.99% $11,739
    RELIANCE FIRST CAPITAL, LLC 1 5.38% $18,058
    Texana Bank 1 5.88% $15,277
    TOTAL MORTGAGE SERVICES, LLC 1 7.13% $9,070
    TruHome Solutions, LLC 1 6.13% $3,337
    U.S. Bank 1 6.63% $12,651
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $9,205

    The top Portland VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 92 VA loans originated. Their average total fees are $8,847, which is $1,088 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Portland VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,759), Mortgage Research Center, LLC ($7,760), NAVY FEDERAL CREDIT UNION ($7,986), CMG MORTGAGE, INC. ($8,174) and USAA Federal Savings Bank ($8,536).

    The lowest rate Portland VA lenders (with over 10 loans originated) are NEWREZ LLC (5.77%), LAKEVIEW LOAN SERVICING, LLC (5.88%), NAVY FEDERAL CREDIT UNION (5.91%), QUICKEN LOANS, LLC (5.98%) and UNITED WHOLESALE MORTGAGE, LLC (6.00%).

    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.