Russellville VA Loan Rates, Closing Costs & Stats

Russellville, AR

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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.

    Russellville's 34 lenders originated 93 VA loans during 2023. The total origination value was $20,455,000, with an average VA loan value of $219,946.

    Russellville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Russellville averaged 6.67% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Russellville's average VA mortgage closing costs are $4,474.

    The average rate for the prior week (2024-11-01) was 6.22% and one month ago for the week of 2024-10-04, the average rate was 5.75%.

    The average rate one year ago was 7.21%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

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

    Russellville 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 Russellville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 18 6.66% $4,710
    Arvest Bank 13 6.79% $5,749
    QUICKEN LOANS, LLC 8 6.04% $10,891
    CORNERSTONE HOME LENDING, INC. 6 6.81% $3,976
    NAVY FEDERAL CREDIT UNION 5 5.65% $3,415
    GMFS LLC 3 6.21% $6,136
    USAA Federal Savings Bank 3 6.42% $8,719
    UNION HOME MORTGAGE CORP. 2 6.06% $5,973
    Mid-Continent Funding, Inc. 2 6.13% $8,020
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $7,463
    FirstTrust Home Loans, Inc. 2 6.94% $3,159
    LOANPAL, LLC 1 6.38% $11,331
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $5,475
    NEW DAY FINANCIAL, LLC 1 6.88% $4,148
    Origin Bank 1 6.25% $56
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,579
    Simmons Bank 1 6.38% $2,378
    STOCKTON MORTGAGE CORPORATION 1 6.25% $7,923
    The Federal Savings Bank 1 5.75% $10,182
    United Fidelity Funding Corp. 1 5.38% $9,450
    UNITED WHOLESALE MORTGAGE, LLC 1 5.59% $32,302
    U.S. Bank 1 7.25% $1,277
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $7,442
    VERITAS FUNDING, LLC 1 7.13% $14,060
    Bank of England 1 6.25% $13,930
    CALCON MUTUAL MORTGAGE LLC 1 7.75% $735
    Carrington Mortgage Services, LLC 1 7.13% $8,976
    Centennial Bank 1 5.88% $8,077
    Eagle Bank and Trust Company 1 7.25% $7,160
    ENCORE BANK 1 6.75% $6,095
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $2,952
    First Security Bank 1 7.00% $1,661
    GUARANTEED RATE, INC. 1 6.25% $0
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $9,200

    The top Russellville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $4,710, which is $1,039 lower than the next largest lender, Arvest Bank.

    The lowest fee Russellville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,710), Arvest Bank ($5,749), .

    The lowest rate Russellville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.66%), Arvest Bank (6.79%), .

    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.