Providence VA Loan Rates, Closing Costs & Stats

PROVIDENCE-WARWICK, RI-MA

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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.

    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.