Richmond VA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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.

Richmond's 169 lenders originated 3,037 VA loans during 2024. The total origination value was $1,207,745,000, with an average VA loan value of $397,677.

Richmond VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Richmond averaged 0.18% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Richmond's average VA mortgage closing costs are $6,707.

The average rate for the prior week (2025-06-13) was 6.92% and one month ago for the week of 2025-05-16, the average rate was 6.78%.

The average rate one year ago was 6.88%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.28%.

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

Richmond 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 Richmond level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 305 6.38% $6,864
UNITED WHOLESALE MORTGAGE, LLC 251 5.86% $10,025
FREEDOM MORTGAGE CORPORATION 194 6.09% $10,537
QUICKEN LOANS, LLC 184 6.07% $11,579
NAVY FEDERAL CREDIT UNION 123 5.84% $7,417
PENNYMAC LOAN SERVICES, LLC 119 5.60% $7,887
NVR Mortgage Finance, Inc. 117 6.14% $7,269
MOVEMENT MORTGAGE, LLC 85 6.21% $10,717
VILLAGE CAPITAL MORTGAGE 71 5.64% $8,015
Prosperity Home Mortgage, LLC 67 6.15% $7,051
NEWREZ LLC 54 6.23% $9,609
DHI MORTGAGE COMPANY, LTD. 53 5.14% $13,306
LOANDEPOT.COM, LLC 53 6.01% $11,812
NEW DAY FINANCIAL, LLC 51 7.45% $13,810
NFM, INC. 49 6.30% $10,612
C & F Mortgage Corporation 41 6.42% $11,889
Presidential Bank, FSB 41 6.27% $8,842
USAA Federal Savings Bank 39 6.16% $11,514
First Heritage Mortgage, LLC 38 6.13% $10,034
Alcova Mortgage LLC 37 6.48% $8,621
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 36 6.38% $6,863
Truist 35 6.15% $11,813
CMG MORTGAGE, INC. 35 6.19% $10,622
SOUTHERN TRUST MORTGAGE, LLC 31 6.49% $10,747
PLANET HOME LENDING, LLC 27 5.80% $4,579
United Bank 25 6.09% $11,009
The Federal Savings Bank 25 6.43% $15,052
AMERICAN FINANCIAL NETWORK, INC. 25 6.36% $7,262
U.S. Bank 23 6.33% $7,761
CAPITAL CENTER, L.L.C. 23 5.93% $6,893
CROSSCOUNTRY MORTGAGE, LLC 22 6.23% $9,380
Towne First Mortgage, LLC 22 6.42% $10,100
Virginia Credit Union, Inc. 21 6.29% $9,811
Mr. Cooper ( Nationstar Mortgage ) 17 6.49% $9,399
CLEARPATH LENDING 16 5.73% $6,848
GUILD MORTGAGE COMPANY 15 6.36% $11,138
SUN WEST MORTGAGE COMPANY, INC. 15 6.20% $8,091
Ameris Bank 15 6.08% $9,611
Atlantic Coast Mortgage, LLC 15 6.21% $13,160
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.30% $5,287
VILLAGE BANK MORTGAGE CORPORATION 14 6.33% $8,449
GUARANTEED RATE, INC. 12 6.08% $5,006
EAGLE HOME MORTGAGE, LLC 12 5.08% $5,588
TIDEWATER MORTGAGE SERVICES, INC. 11 6.24% $12,037
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 6.61% $5,935
CALCON MUTUAL MORTGAGE LLC 11 6.40% $13,437
MUTUAL OF OMAHA MORTGAGE, INC. 10 6.31% $16,226
Equity Prime Mortgage LLC 10 6.88% $11,251
LAKEVIEW LOAN SERVICING, LLC 10 5.62% $5,855
Towne Bank 10 6.30% $9,173
Tidewater Home Funding, LLC 10 6.08% $5,871
BROKER SOLUTIONS, INC. 9 6.68% $8,726
PENTAGON FEDERAL CREDIT UNION 9 6.08% $10,114
Integrity Home Mortgage Corp 9 6.33% $9,252
Magnolia Bank 9 5.97% $15,843
RELIANCE FIRST CAPITAL, LLC 8 6.80% $15,341
FIRST HOME MORTGAGE CORPORATION 7 6.38% $13,077
Cornerstone First Mortgage, Inc 7 6.25% $17,029
Barrington Bank & Trust Company, N.A. 7 6.11% $7,130
Carrington Mortgage Services, LLC 7 6.13% $13,557
PRIMELENDING, A PLAINSCAPITAL COMPANY 7 6.43% $7,536
Wells Fargo Bank 7 6.29% $5,777
MASON MCDUFFIE MORTGAGE CORPORATION 7 6.30% $12,230
First Federal Bank 7 5.89% $7,871
AmeriHome Mortgage Company, LLC 7 6.11% $5,850
Lakeview Community Capital, LLC 6 5.67% $6,703
BAY EQUITY LLC 6 6.75% $7,652
NBKC BANK 6 5.87% $5,843
GENEVA FINANCIAL, LLC 5 6.25% $22,604
Mid-Continent Funding, Inc. 5 5.87% $8,373
FIRST COMMUNITY MORTGAGE, INC. 5 6.35% $8,045
PLAZA HOME MORTGAGE, INC. 5 6.42% $13,936
LOANPAL, LLC 4 5.56% $13,045
Atlantic Union Bank 4 6.06% $7,593
NATIONS DIRECT MORTGAGE, LLC 4 6.15% $6,318
MORIA DEVELOPMENT, INC. 4 6.31% $7,424
Flagstar Bank, FSB 4 6.13% $20,326
LEGEND LENDING CORPORATION 4 6.00% $11,795
HOMESIDE FINANCIAL, LLC 4 6.47% $10,355
AMERISAVE MORTGAGE CORPORATION 4 5.78% $17,787
Waterstone Mortgage Corporation 4 6.75% $10,196
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.31% $6,846
PREMIA MORTGAGE, LLC 3 5.67% $7,698
Century Mortgage Company DBA Century Lending Company 3 6.00% $4,515
C&F Select LLC 3 6.42% $7,961
GoPrime Mortgage, Inc. 3 5.83% $9,847
INTELLILOAN, INC. 3 6.29% $2,256
MEMBER ADVANTAGE MORTGAGE, LLC 3 6.42% $6,076
Nations Lending Corporation 3 6.08% $10,694
Texana Bank 3 6.17% $17,751
The Loan Store, Inc. 3 6.12% $10,129
Towne Mortgage, LLC 3 5.96% $16,278
VANDERBILT MORTGAGE AND FINANCE, INC. 3 5.88% $4,235
INTERCOASTAL MORTGAGE COMPANY 2 6.44% $8,213
MILEND, INC. 2 6.63% $24,308
MLD MORTGAGE INC. 2 5.88% $4,900
HOMESPIRE MORTGAGE CORPORATION 2 7.00% $13,583
HomePromise Corporation 2 7.88% $4,239
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.38% $1,626
HOMEAMERICAN MORTGAGE CORPORATION 2 5.00% $2,322
M&T Bank 2 6.50% $5,362
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.69% $9,982
V.I.P. MORTGAGE, INC. 2 6.44% $5,501
NETWORK CAPITAL FUNDING CORPORATION 2 6.00% $6,568
First National Bank of Pennsylvania 2 6.25% $9,726
NORWICH COMMERCIAL GROUP, INC. 2 5.88% $5,637
FIRST ALLIANCE HOME MORTGAGE, LLC 2 5.81% $11,843
Paramount Residential Mortgage Group, Inc. 2 5.63% $3,702
FIDELITY DIRECT MORTGAGE, LLC 2 7.00% $12,219
FBC MORTGAGE, LLC 2 6.13% $7,379
Plains Commerce Bank 2 5.69% $20,261
EVERETT FINANCIAL, INC. 2 6.25% $11,177
DAS Acquisition Company, LLC 2 6.94% $4,205
Shore United Bank 2 5.63% $6,603
Credence Funding Corporation 2 6.00% $6,288
South State Bank 2 6.25% $7,244
SUCCESS MORTGAGE PARTNERS, INC. 2 5.99% $15,825
CityWorth Mortgage LLC 2 6.75% $11,727
AMERICAN FINANCIAL RESOURCES, INC. 2 7.19% $3,205
The Central Trust Bank 2 6.19% $10,606
The Freedom Bank of Virginia 2 5.88% $9,112
Citizens Bank 2 5.75% $10,753
CARDINAL FINANCIAL 2 7.25% $14,506
TJC Mortgage, Inc. 2 6.00% $8,737
UNION HOME MORTGAGE CORP. 2 6.06% $16,761
AMERICAN FINANCING CORPORATION 2 6.12% $12,237
Meridian Bank Corporation 2 5.69% $6,892
MID AMERICA MORTGAGE, INC. 2 5.63% $10,158
EMBRACE HOME LOANS, INC. 1 5.75% $14,466
Eagle Bank and Trust Company 1 5.88% $19,777
Dominion Capital Mortgage Inc. 1 5.63% $5,448
AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.75% $8,191
ROSS MORTGAGE CORPORATION 1 6.50% $10,948
SeaTrust Mortgage Company 1 5.75% $7,944
Bank of America 1 5.50% $9,938
JPMorgan Chase Bank 1 5.75% $4,692
AXIA FINANCIAL, LLC 1 6.13% $5,869
SOUTHWEST STAGE FUNDING, LLC 1 5.88% $6,930
MORTGAGEONE, INC. 1 7.75% $8,278
Armed Forces Bank 1 5.50% $16,227
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $16,982
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.25% $17,495
SWBC MORTGAGE CORPORATION 1 6.63% $6,075
T2 FINANCIAL LLC 1 6.25% $16,820
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $15,808
GUARANTEED RATE AFFINITY, LLC 1 5.50% $8,063
Willamette Valley Bank 1 6.75% $9,131
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $13,098
GSF Mortgage Corporation 1 5.75% $12
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $4,169
City Lending Inc. 1 7.13% $18,049
Fulton Bank 1 6.63% $4,185
First Reliance Bank 1 5.75% $3,074
NexBank 1 6.63% $12,703
Vellum Mortgage, Inc. 1 7.00% $11,621
ALLIANT CREDIT UNION 1 5.88% $11,475
American Mortgage & Equity Consultants, Inc. 1 6.25% $17,739
ONY GLO, INC. 1 6.50% $6,666
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $32,393
Loan Simple, Inc. 1 6.13% $16,616
LOANLEADERS OF AMERICA, INC. 1 5.75% $6,089
BOND STREET MORTGAGE, LLC 1 6.25% $6,739
PHH Mortgage Corporation 1 5.63% $9,840
BETTER MORTGAGE CORPORATION 1 6.50% $2,968
TOWNE MORTGAGE COMPANY 1 5.88% $7,992
EVANSVILLE TEACHERS 1 6.25% $15,524
PNC Bank 1 6.50% $4,280
Advance Financial Group, LLC 1 6.13% $5,005
ENVOY MORTGAGE, LTD 1 6.63% $24,341

The top Richmond VA lender as defined by loan originations is Mortgage Research Center, LLC, with 305 VA loans originated. Their average total fees are $6,864, which is $3,161 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Richmond VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($4,579), GUARANTEED RATE, INC. ($5,006), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,287), EAGLE HOME MORTGAGE, LLC ($5,588) and LAKEVIEW LOAN SERVICING, LLC ($5,855).

The lowest rate Richmond VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.08%), DHI MORTGAGE COMPANY, LTD. (5.14%), PENNYMAC LOAN SERVICES, LLC (5.60%), LAKEVIEW LOAN SERVICING, LLC (5.62%) and VILLAGE CAPITAL MORTGAGE (5.64%).

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.