Providence VA Loan Rates, Closing Costs & Stats

PROVIDENCE-WARWICK, RI-MA

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.

Providence's 102 lenders originated 1,242 VA loans during 2024. The total origination value was $583,460,000, with an average VA loan value of $469,775.

Providence VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Providence averaged 6.59% for the week of 2025-05-09, compared to the national average (all VA variants) of 6.369% for the same period.

Providence's average VA mortgage closing costs are $7,006.

The average rate for the prior week (2025-05-02) was 6.91% and one month ago for the week of 2025-04-04, the average rate was 6.35%.

The average rate one year ago was 7.14%.

For refis of the same type during the week of 2025-05-09, the average rate was 6.44%.

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

Providence 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 Providence level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 159 6.35% $8,261
UNITED WHOLESALE MORTGAGE, LLC 97 5.96% $9,023
MOVEMENT MORTGAGE, LLC 93 6.25% $9,052
QUICKEN LOANS, LLC 74 6.04% $10,677
NAVY FEDERAL CREDIT UNION 71 5.84% $7,595
FREEDOM MORTGAGE CORPORATION 66 6.16% $11,454
PENNYMAC LOAN SERVICES, LLC 36 5.61% $12,411
NEWREZ LLC 35 6.07% $9,457
LOANDEPOT.COM, LLC 34 6.38% $13,034
The Federal Savings Bank 33 6.22% $20,201
GUILD MORTGAGE COMPANY 32 6.41% $10,004
USAA Federal Savings Bank 29 6.18% $12,091
BAYCOAST MORTGAGE COMPANY, LLC 26 5.74% $8,936
CROSSCOUNTRY MORTGAGE, LLC 24 6.13% $10,999
GUARANTEED RATE, INC. 18 6.25% $7,309
CMG MORTGAGE, INC. 18 6.29% $10,253
Semper Home Loans, Inc. 15 6.45% $13,283
VILLAGE CAPITAL MORTGAGE 15 5.72% $5,751
NFM, INC. 15 6.23% $14,955
TOTAL MORTGAGE SERVICES, LLC 14 6.31% $11,521
Northpointe Bank 13 6.08% $12,637
The Washington Trust Company, of Westerly 10 6.07% $7,602
MUTUAL OF OMAHA MORTGAGE, INC. 10 6.24% $12,585
BROKER SOLUTIONS, INC. 9 6.33% $10,021
LAKEVIEW LOAN SERVICING, LLC 9 6.03% $7,205
EMBRACE HOME LOANS, INC. 9 6.39% $14,844
Magnolia Bank 8 5.89% $15,767
Waterstone Mortgage Corporation 8 6.53% $14,825
AMERICAN FINANCIAL NETWORK, INC. 8 6.31% $7,523
Home Loan Investment Bank, F.S.B. 8 6.27% $10,084
Leader Bank 8 5.95% $9,429
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.61% $6,895
Fall River Five Cents Savings Bank 7 5.84% $10,922
PROVINCE MORTGAGE ASSOCIATES, INC. 7 6.79% $9,913
NBKC BANK 7 5.75% $11,676
HARBORONE MORTGAGE, LLC 7 6.46% $7,566
First Federal Bank 6 5.88% $5,132
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.42% $11,767
Armed Forces Bank 6 5.94% $9,112
Mr. Cooper ( Nationstar Mortgage ) 6 6.50% $12,190
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.93% $9,039
U.S. Bank 5 6.48% $8,722
NATIONS DIRECT MORTGAGE, LLC 5 6.58% $9,428
T2 FINANCIAL LLC 4 6.13% $11,827
FIRST MORTGAGE COMPANY, INC. 4 6.16% $8,299
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.63% $1,738
RADIUS FINANCIAL GROUP INC. 4 6.34% $12,047
RELIANCE FIRST CAPITAL, LLC 4 5.97% $13,278
Texana Bank 4 6.59% $28,924
Paramount Residential Mortgage Group, Inc. 3 5.83% $22,550
JPMorgan Chase Bank 3 6.33% $2,229
MORTGAGE EQUITY PARTNERS LLC 3 6.42% $9,624
Carrington Mortgage Services, LLC 3 5.96% $10,850
Sierra Pacific Mortgage Company, Inc. 3 6.67% $22,536
Prosperity Home Mortgage, LLC 3 6.21% $7,258
PLANET HOME LENDING, LLC 3 6.21% $3,488
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.29% $5,408
FIRST HOME MORTGAGE CORPORATION 2 5.94% $10,122
GUARANTEED RATE AFFINITY, LLC 2 6.00% $12,051
PENTAGON FEDERAL CREDIT UNION 2 5.50% $3,942
PHH Mortgage Corporation 2 5.50% $5,295
PLAZA HOME MORTGAGE, INC. 2 6.50% $5,393
POLARIS HOME FUNDING CORP. 2 6.88% $32,649
Citizens Bank 2 6.50% $10,594
AMERISAVE MORTGAGE CORPORATION 2 5.75% $23,892
SALEM FIVE MORTGAGE COMPANY, LLC 2 6.56% $9,093
SUCCESS MORTGAGE PARTNERS, INC. 2 6.31% $22,562
SUMMIT FUNDING, INC. 2 6.19% $6,604
Barrington Bank & Trust Company, N.A. 2 5.50% $6,810
CARDINAL FINANCIAL 1 6.25% $4,841
HOMESIDE FINANCIAL, LLC 1 5.63% $4,631
Capital Bank 1 6.75% $13,045
BAY-VALLEY MORTGAGE GROUP 1 5.88% $13,935
PREMIA MORTGAGE, LLC 1 5.53% $1,750
Cornerstone First Mortgage, Inc 1 5.75% $6,893
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $1,865
HOMESPIRE MORTGAGE CORPORATION 1 6.75% $1,894
CONTOUR MORTGAGE CORPORATION 1 6.50% $5,253
BAY EQUITY LLC 1 6.75% $16,806
LOANPAL, LLC 1 5.63% $10,577
AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $7,942
Meridian Bank Corporation 1 6.75% $46,535
CIBM Bank 1 6.75% $20,120
Service Federal Credit Union 1 5.63% $9,423
HOMESTEAD FUNDING CORP. 1 6.75% $17,721
Stifel Bank and Trust 1 5.50% $4,548
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.50% $4,841
Lakeview Community Capital, LLC 1 5.75% $10,722
SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $6,495
Ixonia Bank 1 6.25% $16,453
ZILLOW HOME LOANS, LLC 1 6.13% $15,139
The Camden National Bank 1 5.88% $4,952
Florida Capital Bank 1 6.25% $3,481
Flagstar Bank, FSB 1 6.63% $2,307
FM Home Loans, LLC 1 6.75% $22,098
North American Savings Bank, F.S.B. 1 5.75% $8,804
EMM LOANS LLC 1 6.25% $13,497
NORTHPOINT MORTGAGE, INC. 1 6.13% $11,778
OCEAN STATE CREDIT UNION 1 7.13% $3,506
NATIONS RELIABLE LENDING, LLC 1 6.25% $2,413
Easthampton Savings Bank 1 6.75% $13,234
The Central Trust Bank 1 6.25% $3,470

The top Providence VA lender as defined by loan originations is Mortgage Research Center, LLC, with 159 VA loans originated. Their average total fees are $8,261, which is $761 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Providence VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($5,751), GUARANTEED RATE, INC. ($7,309), NAVY FEDERAL CREDIT UNION ($7,595), The Washington Trust Company, of Westerly ($7,602) and Mortgage Research Center, LLC ($8,261).

The lowest rate Providence VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.61%), VILLAGE CAPITAL MORTGAGE (5.72%), BAYCOAST MORTGAGE COMPANY, LLC (5.74%), NAVY FEDERAL CREDIT UNION (5.84%) and UNITED WHOLESALE MORTGAGE, LLC (5.96%).

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.