Rockford VA Loan Rates, Closing Costs & Stats

ROCKFORD, IL

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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.

    Rockford's 59 lenders originated 311 VA loans during 2024. The total origination value was $76,275,000, with an average VA loan value of $245,257.

    Rockford VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Rockford averaged 6.83% for the week of 2026-07-24, compared to the national average (all VA variants) of 6.236% for the same period.

    Rockford's average VA mortgage closing costs are $5,101.

    The average rate for the prior week (2026-07-17) was 6.86% and one month ago for the week of 2026-06-19, the average rate was 6.68%.

    The average rate one year ago was 7.07%.

    For refis of the same type during the week of 2026-07-24, the average rate was 6.64%.

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

    Rockford 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 Rockford level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 89 6.42% $5,541
    QUICKEN LOANS, LLC 23 6.19% $10,309
    GREENSTATE CREDIT UNION 20 6.21% $7,497
    UNITED WHOLESALE MORTGAGE, LLC 13 6.01% $6,490
    PENNYMAC LOAN SERVICES, LLC 13 5.97% $5,079
    NEW DAY FINANCIAL, LLC 11 7.53% $10,007
    NAVY FEDERAL CREDIT UNION 9 5.97% $4,338
    USAA Federal Savings Bank 8 6.41% $5,069
    CROSSCOUNTRY MORTGAGE, LLC 8 6.42% $5,261
    First Mid Bank & Trust 8 6.39% $4,824
    FREEDOM MORTGAGE CORPORATION 7 6.43% $9,043
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.46% $5,025
    Mr. Cooper ( Nationstar Mortgage ) 5 6.08% $9,602
    NEWREZ LLC 5 6.45% $3,826
    GUILD MORTGAGE COMPANY 4 6.72% $7,727
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.38% $2,063
    VILLAGE CAPITAL MORTGAGE 4 5.91% $4,883
    The Federal Savings Bank 4 6.03% $12,587
    BROKER SOLUTIONS, INC. 3 6.38% $10,269
    Mid-Continent Funding, Inc. 3 6.38% $6,402
    Barrington Bank & Trust Company, N.A. 3 6.54% $4,932
    ENVOY MORTGAGE, LTD 3 7.08% $5,570
    GUARANTEED RATE, INC. 3 6.20% $3,535
    FIRST STATE MORTGAGE SERVICES, LLC 2 6.75% $2,361
    PLANET HOME LENDING, LLC 2 5.87% $1,877
    PLAZA HOME MORTGAGE, INC. 2 6.31% $8,162
    Ixonia Bank 2 6.38% $6,844
    JPMorgan Chase Bank 2 7.06% $500
    SUN WEST MORTGAGE COMPANY, INC. 2 5.75% $7,768
    LOANDEPOT.COM, LLC 2 6.31% $8,720
    MORTGAGE CENTER L.C 1 6.88% $4,868
    Ameris Bank 1 6.13% $3,405
    CALCON MUTUAL MORTGAGE LLC 1 6.75% $6,691
    Carrington Mortgage Services, LLC 1 5.88% $18,874
    Century Mortgage Company DBA Century Lending Company 1 5.99% $3,625
    CLEARPATH LENDING 1 5.75% $4,393
    Community Mortgage Banc Corporation 1 7.50% $13,859
    First Federal Bank 1 5.75% $11,591
    Flanagan State Bank 1 6.25% $9,185
    FLAT BRANCH MORTGAGE, INC. 1 6.63% $3,594
    GUARANTEED RATE AFFINITY, LLC 1 7.13% $11,593
    HOMESTEAD FUNDING CORP. 1 5.75% $2,644
    LEADERONE FINANCIAL CORPORATION 1 6.63% $7,980
    Magnolia Bank 1 5.50% $9,442
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $3,670
    MORTGAGEONE, INC. 1 6.00% $25,809
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.13% $7,756
    NATIONS RELIABLE LENDING, LLC 1 6.88% $6,274
    NORTHWEST BANK OF ROCKFORD 1 7.13% $7,636
    Old Second National Bank 1 6.50% $3,313
    Paramount Residential Mortgage Group, Inc. 1 7.13% $10,954
    PHH Mortgage Corporation 1 5.63% $3,948
    PNC Bank 1 5.63% $20,778
    POINT Mortgage 1 7.25% $3,790
    SIRVA MORTGAGE, INC. 1 6.63% $2,916
    The Huntington National Bank 1 6.63% $1,068
    TJC Mortgage, Inc. 1 6.25% $13,308
    U.S. Bank 1 6.63% $14,987
    Waterstone Mortgage Corporation 1 7.13% $10,048

    The top Rockford VA lender as defined by loan originations is Mortgage Research Center, LLC, with 89 VA loans originated. Their average total fees are $5,541, which is $4,768 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Rockford VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($5,079), Mortgage Research Center, LLC ($5,541), UNITED WHOLESALE MORTGAGE, LLC ($6,490), GREENSTATE CREDIT UNION ($7,497) and NEW DAY FINANCIAL, LLC ($10,007).

    The lowest rate Rockford VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.97%), UNITED WHOLESALE MORTGAGE, LLC (6.01%), QUICKEN LOANS, LLC (6.19%), GREENSTATE CREDIT UNION (6.21%) and Mortgage Research Center, LLC (6.42%).

    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.