San Diego VA Loan Rates, Closing Costs & Stats

SAN DIEGO-CHULA VISTA-CARLSBAD, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    San Diego's 133 lenders originated 3,601 VA loans during 2023. The total origination value was $2,581,005,000, with an average VA loan value of $716,747.

    San Diego VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in San Diego averaged 6.56% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    San Diego's average VA mortgage closing costs are $9,243.

    The average rate for the prior week (2024-04-12) was 6.8% and one month ago for the week of 2024-03-15, the average rate was 6.26%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.8%.

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

    San Diego 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 San Diego level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 960 6.02% $15,154
    QUICKEN LOANS, LLC 225 6.01% $18,414
    Mortgage Research Center, LLC 209 6.41% $14,519
    CROSSCOUNTRY MORTGAGE, LLC 196 6.29% $20,404
    LOANDEPOT.COM, LLC 181 5.59% $21,792
    NAVY FEDERAL CREDIT UNION 151 5.78% $12,446
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 92 6.35% $18,096
    PENNYMAC LOAN SERVICES, LLC 81 5.77% $17,718
    AMERICAN PACIFIC MORTGAGE CORPORATION 75 6.27% $21,582
    CMG MORTGAGE, INC. 72 6.15% $20,768
    EAGLE HOME MORTGAGE, LLC 66 6.03% $12,910
    FREEDOM MORTGAGE CORPORATION 66 6.32% $19,052
    KBHS HOME LOANS, LLC 63 5.78% $19,250
    GUARANTEED RATE, INC. 63 5.98% $17,246
    AMERICAN FINANCIAL NETWORK, INC. 44 6.39% $17,578
    NEWREZ LLC 39 6.21% $15,629
    The Federal Savings Bank 32 6.11% $23,875
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 28 6.41% $18,357
    POINT Mortgage 28 6.02% $19,426
    MORTGAGEONE, INC. 28 6.59% $10,948
    MOVEMENT MORTGAGE, LLC 25 6.24% $17,672
    SUMMIT FUNDING, INC. 24 6.46% $15,899
    CARDINAL FINANCIAL 22 6.34% $23,416
    BAY EQUITY LLC 21 6.09% $15,853
    Century Mortgage Company DBA Century Lending Company 21 6.11% $17,515
    S1L, Inc. 21 6.29% $19,590
    Plains Commerce Bank 20 5.63% $22,433
    CALIBER HOME LOANS, INC. 20 5.59% $12,922
    INTERCAP LENDING INC. 20 6.14% $11,541
    GUILD MORTGAGE COMPANY 20 6.31% $22,136
    JMJ FINANCIAL GROUP 17 6.33% $21,275
    U.S. Bank 17 6.26% $18,716
    Cornerstone First Mortgage, Inc 17 6.23% $23,671
    Nations Lending Corporation 16 6.05% $14,618
    Paramount Residential Mortgage Group, Inc. 15 6.57% $15,847
    BROKER SOLUTIONS, INC. 15 6.15% $23,529
    Flagstar Bank, FSB 15 6.41% $20,838
    Shea Mortgage Inc. 15 6.07% $13,877
    VILLAGE CAPITAL MORTGAGE 15 6.10% $22,694
    HOMEBRIDGE FINANCIAL SERVICES, INC. 14 5.96% $16,770
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 14 6.24% $18,133
    MUTUAL OF OMAHA MORTGAGE, INC. 13 6.06% $21,173
    AXIA FINANCIAL, LLC 13 6.04% $21,362
    Prosperity Home Mortgage, LLC 13 5.77% $16,000
    San Diego Funding 11 6.34% $33,598
    American Mortgage & Equity Consultants, Inc. 11 6.60% $20,489
    GUARANTEED RATE AFFINITY, LLC 11 6.18% $11,885
    HOMEAMERICAN MORTGAGE CORPORATION 11 5.58% $7,164
    Wells Fargo Bank 10 5.76% $11,854
    NP, Inc. 10 6.76% $35,847
    SUN WEST MORTGAGE COMPANY, INC. 10 5.76% $12,143
    PLANET HOME LENDING, LLC 10 5.47% $12,089
    Barrington Bank & Trust Company, N.A. 9 6.18% $11,894
    Equity Prime Mortgage LLC 9 6.32% $24,525
    PLAZA HOME MORTGAGE, INC. 9 6.32% $15,001
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.42% $16,951
    The Loan Store, Inc. 9 6.30% $17,982
    Golden Empire Mortgage, Inc. 8 6.39% $22,999
    Hometown Equity Mortgage, LLC 8 5.86% $20,425
    Ameris Bank 8 5.88% $18,650
    EVERETT FINANCIAL, INC. 8 6.39% $21,025
    VERITAS FUNDING, LLC 7 6.20% $32,896
    Franklin Loan Corporation 7 6.30% $17,459
    Mr. Cooper ( Nationstar Mortgage ) 7 5.88% $19,748
    NATIONS DIRECT MORTGAGE, LLC 7 6.32% $16,211
    AMERISAVE MORTGAGE CORPORATION 7 5.71% $13,468
    NEW DAY FINANCIAL, LLC 7 7.57% $19,905
    Sierra Pacific Mortgage Company, Inc. 7 5.84% $17,046
    NBKC BANK 6 5.94% $21,044
    JPMorgan Chase Bank 6 6.02% $18,701
    CALCON MUTUAL MORTGAGE LLC 6 6.63% $27,621
    PENTAGON FEDERAL CREDIT UNION 5 5.63% $11,565
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 6.20% $19,384
    OCMBC, INC. 5 6.20% $15,801
    MORTGAGE SOLUTIONS OF COLORADO, LLC 5 7.40% $24,867
    Magnolia Bank 4 6.41% $25,557
    RESIDENTIAL BANCORP 4 6.09% $21,441
    Watermark Capital, Inc. 4 5.47% $27,402
    LAKEVIEW LOAN SERVICING, LLC 3 6.33% $15,999
    Lakeview Community Capital, LLC 3 6.04% $26,620
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.08% $15,576
    UNION HOME MORTGAGE CORP. 3 6.46% $17,942
    CHURCHILL MORTGAGE CORPORATION 3 5.83% $23,712
    FRONTWAVE 3 5.63% $1,952
    LADERA LENDING, INC. 3 5.83% $18,652
    MORIA DEVELOPMENT, INC. 3 5.75% $21,089
    Mid-Continent Funding, Inc. 3 6.33% $18,576
    ALAMEDA MORTGAGE CORPORATION 3 6.29% $22,010
    CORNERSTONE HOME LENDING, INC. 2 6.25% $18,377
    Keystone Funding, Inc. 2 5.63% $4,678
    AUGUSTA FINANCIAL, INC. 2 6.06% $10,616
    Armed Forces Bank 2 6.31% $31,373
    FIRST NATIONS HOME FINANCE CORPORATION 2 6.44% $22,385
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.88% $15,169
    Neighborhood Loans, Inc. 2 6.00% $28,072
    NFM, INC. 2 7.31% $12,273
    USAA Federal Savings Bank 2 6.38% $21,236
    MID AMERICA MORTGAGE, INC. 2 5.19% $9,196
    iCore Lending, Inc. 1 6.13% $20,761
    Ixonia Bank 1 6.50% $28,736
    LAND HOME FINANCIAL SERVICES, INC. 1 5.63% $26,779
    GENEVA FINANCIAL, LLC 1 7.25% $18,725
    MOUNTAIN WEST FINANCIAL, INC. 1 6.63% $48,288
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $11,164
    First Savings Bank 1 5.25% $31,272
    Farmers Bank & Trust 1 5.13% $5,583
    NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $2,015
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.25% $14,445
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.25% $8,689
    OAKTREE FUNDING CORP. 1 5.75% $6,725
    ONE NEVADA CREDIT UNION 1 5.88% $6,456
    ON Q FINANCIAL, INC. 1 6.75% $25,621
    ONY GLO, INC. 1 6.75% $12,441
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 5.75% $28,267
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.75% $9,137
    Citizens Bank 1 5.25% $4,089
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 8.00% $2,753
    AHL FUNDING 1 5.99% $5,545
    BNC National Bank 1 5.50% $28,482
    Bell Bank 1 6.63% $10,075
    ACADEMY MORTGAGE CORPORATION 1 5.88% $17,800
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $45,529
    ST FIN CORP 1 5.75% $25,025
    Strong Home Mortgage, LLC 1 5.75% $13,427
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $11,270
    The Freedom Bank of Virginia 1 6.25% $20,793
    Willamette Valley Bank 1 6.25% $15,246
    Truist 1 6.70% $15,570
    UNITED HOME LOANS, INC. 1 6.63% $30,884
    AMCAP MORTGAGE, LTD. 1 5.63% $92,698
    Allied First Bank,sb 1 5.99% $10,088
    V.I.P. MORTGAGE, INC. 1 7.00% $12,325
    HOME APPROVALS DIRECT, INC. 1 5.75% $13,252

    The top San Diego VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 960 VA loans originated. Their average total fees are $15,154, which is $3,260 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee San Diego VA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($7,164), MORTGAGEONE, INC. ($10,948), INTERCAP LENDING INC. ($11,541), Wells Fargo Bank ($11,854) and GUARANTEED RATE AFFINITY, LLC ($11,885).

    The lowest rate San Diego VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (5.47%), HOMEAMERICAN MORTGAGE CORPORATION (5.58%), LOANDEPOT.COM, LLC (5.59%), CALIBER HOME LOANS, INC. (5.59%) and Plains Commerce Bank (5.63%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - San Diego (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $679,450 (5.0%) $1,222,393 (0.5%) 2.52 4,269
    2018-02-01 $693,299 (3.9%) $1,240,565 (-1.5%) 2.52 4,506
    2018-03-01 $699,000 (3.2%) $1,243,847 (-0.9%) 2.45 4,932
    2018-04-01 $699,900 (0.1%) $1,226,489 (-3.8%) 2.37 5,569
    2018-05-01 $704,337 (0.6%) $1,226,065 (-3.9%) 2.35 5,987
    2018-06-01 $710,000 (1.4%) $1,213,368 (-3.0%) 2.37 6,377
    2018-07-01 $699,000 (0.0%) $1,184,991 (-4.5%) 2.33 6,978
    2018-08-01 $684,500 (-0.7%) $1,161,104 (-4.9%) 2.29 7,490
    2018-09-01 $675,990 (-0.4%) $1,113,534 (-7.9%) 2.27 7,777
    2018-10-01 $669,000 (-0.8%) $1,088,623 (-9.4%) 2.27 7,879
    2018-11-01 $659,950 (-0.8%) $1,076,657 (-11.2%) 2.24 7,805
    2018-12-01 $659,000 (-3.0%) $1,087,930 (-13.0%) 2.27 6,539
    2019-01-01 $659,250 (-3.0%) $1,085,070 (-11.2%) 2.28 6,331
    2019-02-01 $669,200 (-3.5%) $1,108,895 (-10.6%) 2.26 6,366
    2019-03-01 $684,968 (-2.0%) $1,135,864 (-8.7%) 2.24 6,365
    2019-04-01 $701,950 (0.3%) $1,166,051 (-4.9%) 2.23 6,430
    2019-05-01 $717,000 (1.8%) $1,164,997 (-5.0%) 2.24 6,800
    2019-06-01 $720,000 (1.4%) $1,209,593 (-0.3%) 2.25 6,898
    2019-07-01 $712,000 (1.9%) $1,191,632 (0.6%) 2.23 7,000
    2019-08-01 $710,909 (3.9%) $1,177,659 (1.4%) 2.25 6,848
    2019-09-01 $704,773 (4.3%) $1,182,351 (6.2%) 2.26 6,587
    2019-10-01 $705,682 (5.5%) $1,193,127 (9.6%) 2.28 6,343
    2019-11-01 $714,945 (8.3%) $1,277,024 (18.6%) 2.34 5,658
    2019-12-01 $717,400 (8.9%) $1,258,384 (15.7%) 2.39 4,704
    2020-01-01 $711,725 (8.0%) $1,259,678 (16.1%) 2.38 4,219
    2020-02-01 $725,000 (8.3%) $1,286,377 (16.0%) 2.37 4,080
    2020-03-01 $749,000 (9.4%) $1,283,387 (13.0%) 2.35 4,291
    2020-04-01 $725,000 (3.3%) $1,244,868 (6.8%) 2.27 4,666
    2020-05-01 $749,000 (4.5%) $1,236,089 (6.1%) 2.28 4,812
    2020-06-01 $767,000 (6.5%) $1,353,937 (11.9%) 2.26 4,393
    2020-07-01 $789,500 (10.9%) $1,342,353 (12.7%) 2.29 4,087
    2020-08-01 $784,000 (10.3%) $1,398,771 (18.8%) 2.25 3,883
    2020-09-01 $775,000 (10.0%) $1,411,731 (19.4%) 2.22 3,843
    2020-10-01 $775,000 (9.8%) $1,435,239 (20.3%) 2.22 3,809
    2020-11-01 $762,000 (6.6%) $1,447,998 (13.4%) 2.23 3,441
    2020-12-01 $768,375 (7.1%) $1,499,059 (19.1%) 2.29 2,787
    2021-01-01 $775,000 (8.9%) $1,632,753 (29.6%) 2.31 2,357
    2021-02-01 $784,000 (8.1%) $1,617,394 (25.7%) 2.28 2,192
    2021-03-01 $786,950 (5.1%) $1,564,283 (21.9%) 2.23 2,197
    2021-04-01 $799,450 (10.3%) $1,616,523 (29.9%) 2.16 2,270
    2021-05-01 $799,000 (6.7%) $1,560,459 (26.2%) 2.12 2,548
    2021-06-01 $809,950 (5.6%) $1,523,939 (12.6%) 2.13 2,854
    2021-07-01 $819,000 (3.7%) $1,486,353 (10.7%) 2.16 3,130
    2021-08-01 $821,650 (4.8%) $1,478,471 (5.7%) 2.19 3,099
    2021-09-01 $802,500 (3.6%) $1,499,160 (6.2%) 2.14 2,865
    2021-10-01 $825,000 (6.5%) $1,559,805 (8.7%) 2.20 2,553
    2021-11-01 $834,000 (9.5%) $1,583,624 (9.4%) 2.23 2,111
    2021-12-01 $822,750 (7.1%) $1,659,581 (10.7%) 2.23 1,619
    2022-01-01 $848,500 (9.5%) $1,795,695 (10.0%) 2.29 1,464
    2022-02-01 $850,000 (8.4%) $1,781,404 (10.1%) 2.21 1,484
    2022-03-01 $881,500 (12.0%) $1,740,499 (11.3%) 2.21 1,656
    2022-04-01 $900,000 (12.6%) $1,709,012 (5.7%) 2.15 1,926
    2022-05-01 $926,750 (16.0%) $1,590,139 (1.9%) 2.12 2,779
    2022-06-01 $949,000 (17.2%) $1,530,457 (0.4%) 2.11 3,572
    2022-07-01 $899,900 (9.9%) $1,479,948 (-0.4%) 2.03 4,560
    2022-08-01 $897,000 (9.2%) $1,476,135 (-0.2%) 2.07 4,494
    2022-09-01 $888,699 (10.7%) $1,470,572 (-1.9%) 2.08 4,154
    2022-10-01 $890,000 (7.9%) $1,450,137 (-7.0%) 2.09 4,137
    2022-11-01 $884,500 (6.1%) $1,442,386 (-8.9%) 2.13 3,985
    2022-12-01 $899,000 (9.3%) $1,486,085 (-10.5%) 2.22 3,159
    2023-01-01 $904,700 (6.6%) $1,567,702 (-12.7%) 2.24 2,599
    2023-02-01 $931,999 (9.7%) $1,640,832 (-7.9%) 2.25 2,290
    2023-03-01 $949,500 (7.7%) $1,705,029 (-2.0%) 2.24 2,067
    2023-04-01 $999,950 (11.1%) $1,882,399 (10.2%) 2.33 1,952
    2023-05-01 $1,055,000 (13.8%) $1,904,280 (19.8%) 2.39 2,065
    2023-06-01 $1,092,500 (15.1%) $1,948,369 (27.3%) 2.46 2,284
    2023-07-01 $1,098,000 (22.0%) $1,947,120 (31.6%) 2.50 2,447
    2023-08-01 $1,099,450 (22.6%) $1,931,373 (30.8%) 2.52 2,488
    2023-09-01 $1,050,000 (18.2%) $1,845,525 (25.5%) 2.44 2,622
    2023-10-01 $999,000 (12.3%) $1,788,060 (23.3%) 2.35 2,848
    2023-11-01 $995,000 (12.5%) $1,770,030 (22.7%) 2.37 2,929
    2023-12-01 $980,000 (9.0%) $1,829,738 (23.1%) 2.39 2,619
    2024-01-01 $977,000 (8.0%) $1,834,937 (17.1%) 2.39 2,452
    2024-02-01 $996,500 (6.9%) $1,831,972 (11.7%) 2.40 2,424
    2024-03-01 $998,000 (5.1%) $1,792,747 (5.1%) 2.35 2,611
    San Diego's median listing price for 2024-03-01 was $998,000, a difference of $48,500 (5.1%) versus the prior year and $1,500 versus the prior month.

    San Diego's median listing price comes in at 235% of the national average.

    San Diego's average listing price for 2024-03-01 was $1,792,747, a difference of $87,718 (5.1%) versus the prior year and $-39,225 versus the prior month.

    For the 2024-03-01 period, San Diego had 2,611 MLS listings, a difference of 187 listings (8%) versus the prior month and 544 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - San Diego (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 39 days 1,843 sqft
    2018-02-01 29 days 1,853 sqft
    2018-03-01 29 days 1,882 sqft
    2018-04-01 29 days 1,904 sqft
    2018-05-01 28 days 1,913 sqft
    2018-06-01 29 days 1,908 sqft
    2018-07-01 31 days 1,858 sqft
    2018-08-01 31 days 1,815 sqft
    2018-09-01 35 days 1,800 sqft
    2018-10-01 36 days 1,790 sqft
    2018-11-01 39 days 1,779 sqft
    2018-12-01 47 days 1,786 sqft
    2019-01-01 45 days 1,762 sqft
    2019-02-01 32 days 1,777 sqft
    2019-03-01 34 days 1,815 sqft
    2019-04-01 33 days 1,855 sqft
    2019-05-01 32 days 1,874 sqft
    2019-06-01 40 days 1,881 sqft
    2019-07-01 42 days 1,871 sqft
    2019-08-01 43 days 1,859 sqft
    2019-09-01 43 days 1,839 sqft
    2019-10-01 44 days 1,831 sqft
    2019-11-01 47 days 1,824 sqft
    2019-12-01 58 days 1,798 sqft
    2020-01-01 55 days 1,781 sqft
    2020-02-01 39 days 1,800 sqft
    2020-03-01 39 days 1,806 sqft
    2020-04-01 43 days 1,754 sqft
    2020-05-01 46 days 1,784 sqft
    2020-06-01 43 days 1,787 sqft
    2020-07-01 43 days 1,789 sqft
    2020-08-01 37 days 1,728 sqft
    2020-09-01 38 days 1,695 sqft
    2020-10-01 40 days 1,696 sqft
    2020-11-01 47 days 1,679 sqft
    2020-12-01 57 days 1,686 sqft
    2021-01-01 52 days 1,671 sqft
    2021-02-01 37 days 1,672 sqft
    2021-03-01 34 days 1,659 sqft
    2021-04-01 32 days 1,687 sqft
    2021-05-01 28 days 1,664 sqft
    2021-06-01 27 days 1,666 sqft
    2021-07-01 29 days 1,670 sqft
    2021-08-01 30 days 1,685 sqft
    2021-09-01 33 days 1,674 sqft
    2021-10-01 34 days 1,674 sqft
    2021-11-01 37 days 1,677 sqft
    2021-12-01 45 days 1,654 sqft
    2022-01-01 39 days 1,637 sqft
    2022-02-01 26 days 1,633 sqft
    2022-03-01 24 days 1,680 sqft
    2022-04-01 23 days 1,714 sqft
    2022-05-01 22 days 1,707 sqft
    2022-06-01 24 days 1,730 sqft
    2022-07-01 30 days 1,699 sqft
    2022-08-01 36 days 1,680 sqft
    2022-09-01 40 days 1,673 sqft
    2022-10-01 39 days 1,679 sqft
    2022-11-01 44 days 1,686 sqft
    2022-12-01 54 days 1,698 sqft
    2023-01-01 54 days 1,690 sqft
    2023-02-01 38 days 1,682 sqft
    2023-03-01 37 days 1,733 sqft
    2023-04-01 33 days 1,800 sqft
    2023-05-01 30 days 1,839 sqft
    2023-06-01 31 days 1,860 sqft
    2023-07-01 31 days 1,835 sqft
    2023-08-01 33 days 1,803 sqft
    2023-09-01 35 days 1,780 sqft
    2023-10-01 34 days 1,717 sqft
    2023-11-01 37 days 1,686 sqft
    2023-12-01 44 days 1,672 sqft
    2024-01-01 43 days 1,640 sqft
    2024-02-01 33 days 1,639 sqft
    2024-03-01 32 days 1,650 sqft
    San Diego's median listing age (time on market) for 2024-03-01 was 32 days. This is -14% shorter than the same period one year ago.

    San Diego's median square footage for active listings during the 2024-03-01 period was 1,650 sqft. One year prior, the average listing was 1,733 sqft.

    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.