Savannah VA Loans

SAVANNAH, GA

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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 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.

    Savannah's 182 lenders originated 4,759 VA loans during 2021. The total origination value was $1,245,145,000, with an average VA loan value of $261,640.

    Savannah VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Savannah averaged 5.62% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.33% and one month ago for the week of 2022-04-15, the average rate was 4.89%.

    The average rate one year ago was 2.98%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.26%.

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

    Savannah VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Savannah level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 636 2.84% $6,526
    QUICKEN LOANS, LLC 342 2.49% $4,936
    FREEDOM MORTGAGE CORPORATION 295 2.43% $2,570
    PENNYMAC LOAN SERVICES, LLC 257 2.43% $5,316
    BROKER SOLUTIONS, INC. 232 2.82% $7,185
    BANKSOUTH MORTGAGE COMPANY, LLC 161 2.65% $8,435
    NAVY FEDERAL CREDIT UNION 124 2.48% $5,703
    USAA Federal Savings Bank 116 2.81% $5,338
    GUILD MORTGAGE COMPANY 101 2.90% $7,714
    DHI MORTGAGE COMPANY, LTD. 97 2.73% $7,679
    LOANDEPOT.COM, LLC 77 2.66% $5,628
    CERTAINTY HOME LOANS, LLC 75 2.76% $6,866
    LAKEVIEW LOAN SERVICING, LLC 73 2.47% $2,387
    NEW DAY FINANCIAL, LLC 71 2.81% $6,941
    VILLAGE CAPITAL & INVESTMENT LLC 70 2.34% $3,365
    UNITED WHOLESALE MORTGAGE, LLC 65 2.54% $6,471
    MOVEMENT MORTGAGE, LLC 64 2.93% $7,385
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 58 2.93% $7,151
    HOME POINT FINANCIAL CORPORATION 57 2.38% $6,433
    Mr. Cooper ( Nationstar Mortgage ) 49 2.87% $3,544
    Wells Fargo Bank 47 2.58% $3,743
    CALIBER HOME LOANS, INC. 46 2.50% $3,053
    CLEARPATH LENDING 38 2.34% $4,110
    The Federal Savings Bank 37 2.64% $6,504
    VANDERBILT MORTGAGE AND FINANCE, INC. 35 2.84% $7,382
    SWBC MORTGAGE CORPORATION 33 3.02% $6,163
    Colony Bank 32 2.73% $5,305
    Ameris Bank 29 2.54% $8,019
    DRAPER AND KRAMER MORTGAGE CORP. 28 2.62% $7,041
    ANGEL OAK HOME LOANS LLC 28 2.86% $4,764
    AMERICAN FINANCIAL NETWORK, INC. 27 2.57% $8,394
    Plains Commerce Bank 26 2.88% $9,756
    Flagstar Bank, FSB 24 2.69% $6,744
    PENTAGON FEDERAL CREDIT UNION 22 2.38% $2,467
    Truist Bank 20 2.65% $5,690
    Lakeview Community Capital, LLC 20 2.60% $2,050
    GUARANTEED RATE, INC. 20 2.66% $5,328
    Low VA Rates, LLC 19 2.38% $3,392
    Barrington Bank & Trust Company, N.A. 18 2.79% $4,689
    MORTGAGE SOLUTIONS OF COLORADO, LLC 17 3.43% $4,771
    InterContinental Capital Group, Inc 17 2.46% $4,690
    Carrington Mortgage Services, LLC 16 3.33% $6,219
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 16 3.10% $9,478
    AMERISAVE MORTGAGE CORPORATION 16 2.57% $5,097
    ACADEMY MORTGAGE CORPORATION 15 3.08% $6,640
    South State Bank 15 2.58% $8,702
    Renasant Bank 15 2.95% $4,889
    JET HOMELOANS, LLC 15 2.77% $10,212
    HOMESPIRE MORTGAGE CORPORATION 13 2.92% $8,965
    Commerce Home Mortgage, Inc. 13 2.63% $3,792
    STOCKTON MORTGAGE CORPORATION 13 2.46% $7,229
    First Guaranty Mortgage Corporation 13 2.51% $3,576
    NEWREZ LLC 13 2.80% $5,539
    SOUTHPOINT FINANCIAL SERVICES, INC. 12 3.30% $6,691
    Magnolia Bank 12 2.59% $5,659
    Capital City Home Loans, LLC 11 2.75% $7,785
    HOMESTAR FINANCIAL CORPORATION 11 2.97% $6,439
    HOMEBRIDGE FINANCIAL SERVICES, INC. 11 2.83% $4,874
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 11 2.76% $7,633
    CROSSCOUNTRY MORTGAGE, LLC 10 2.97% $8,732
    United Community Bank 10 2.83% $7,009
    North American Savings Bank, F.S.B. 9 2.57% $6,131
    AMERICAN FINANCING CORPORATION 9 2.65% $7,001
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 3.31% $7,309
    PLANET HOME LENDING, LLC 9 2.60% $1,936
    Paramount Bank 9 2.63% $6,781
    NP, Inc. 9 2.32% $5,255
    NBKC BANK 8 2.44% $6,076
    Northpointe Bank 8 3.14% $9,513
    Mid-Continent Funding, Inc. 8 2.72% $7,453
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 2.84% $6,686
    CONTOUR MORTGAGE CORPORATION 7 2.52% $5,880
    Queensborough National Bank & Trust Company 7 2.43% $4,634
    MUTUAL OF OMAHA MORTGAGE, INC. 7 2.82% $7,514
    First Federal Bank 6 2.75% $8,302
    PULTE MORTGAGE LLC 6 2.94% $8,968
    BNC National Bank 6 2.40% $3,761
    Wyndham Capital Mortgage, Inc. 5 2.50% $3,776
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 3.42% $8,508
    GUARANTY HOME MORTGAGE CORPORATION 5 2.68% $6,236
    TJC Mortgage, Inc. 5 2.40% $3,344
    HOMESIDE FINANCIAL, LLC 5 2.65% $6,527
    INTERCOASTAL MORTGAGE COMPANY 5 2.75% $11,346
    FINANCE OF AMERICA MORTGAGE LLC 4 2.97% $10,265
    PHH Mortgage Corporation 4 2.91% $2,661
    AmeriHome Mortgage Company, LLC 4 2.87% $2,533
    First Home Bank 4 2.78% $7,503
    Gateway First Bank 4 2.84% $2,174
    DAS Acquisition Company, LLC 4 3.09% $11,791
    Equity Prime Mortgage LLC 3 3.46% $3,018
    VAN DYK MORTGAGE CORPORATION 3 2.67% $6,575
    BAY EQUITY LLC 3 2.79% $14,939
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 3.29% $13,395
    UNION HOME MORTGAGE CORP. 3 3.29% $6,875
    GENEVA FINANCIAL, LLC 3 3.21% $4,111
    BELEM SERVICING LLC 3 2.08% $13,932
    DIRECT LENDERS, LLC 3 2.46% $3,362
    SOVEREIGN LENDING GROUP INCORPORATED 3 2.42% $4,558
    Capital Bank 3 2.46% $6,886
    Meridian Bank Corporation 3 2.37% $5,860
    NBH Bank 3 2.50% $8,768
    MEMBER FIRST MORTGAGE, LLC 2 2.81% $2,550
    FirstBank 2 2.44% $1,537
    MID AMERICA MORTGAGE, INC. 2 2.38% $4,233
    LIBERTY HOME MORTGAGE CORPORATION 2 2.50% $4,562
    LENDUS, LLC 2 2.25% $3,334
    Century Mortgage Company DBA Century Lending Company 2 2.56% $4,680
    LENDING 3, INC. 2 3.13% $8,061
    Prosperity Home Mortgage, LLC 2 2.88% $9,582
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 2.94% $8,471
    Prime Choice Funding Inc. 2 2.31% $7,017
    Ixonia Bank 2 2.81% $10,847
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.00% $11,625
    1ST SIGNATURE LENDING, LLC 2 3.44% $6,706
    INTERLINC MORTGAGE SERVICES, LLC 2 2.94% $5,982
    West Town Bank & Trust 2 2.63% $13,228
    STEARNS LENDING, LLC 2 3.31% $11,235
    PNC Bank 2 2.56% $10,879
    Paramount Residential Mortgage Group, Inc. 2 2.50% $6,486
    Synovus Bank 2 2.44% $6,787
    EMBRACE HOME LOANS, INC. 2 2.25% $2,600
    George Mason Mortgage, LLC 2 2.43% $6,319
    CHURCHILL MORTGAGE CORPORATION 2 3.19% $7,074
    PLAZA HOME MORTGAGE, INC. 2 2.25% $2,996
    First Federal Bank of Kansas City 2 2.31% $6,310
    FIRST COMMUNITY MORTGAGE, INC. 2 2.88% $12,932
    RELIANCE FIRST CAPITAL, LLC 2 3.06% $3,555
    LOANPAL, LLC 2 2.63% $2,080
    Nations Lending Corporation 1 2.88% $13,294
    Alcova Mortgage LLC 1 2.75% $4,381
    American Bank of Oklahoma 1 2.50% $4,109
    Amerifirst Financial, Inc. 1 2.63% $4,375
    Arvest Bank 1 2.25% $5,817
    Assurance Financial Group, L.L.C. 1 2.75% $7,808
    Bank of England 1 3.25% $10,027
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $2,672
    Bell Bank 1 3.00% $25
    Blue Ridge Bank 1 2.75% $5,157
    CityWorth Mortgage LLC 1 3.00% $3,332
    CMG MORTGAGE, INC. 1 2.75% $5,474
    Credence Funding Corporation 1 2.25% $1,500
    CREDIT UNION FINANCIAL SERVICES, LLC 1 2.63% $6,310
    DELMAR FINANCIAL COMPANY 1 2.50% $15,191
    Evolve Bank & Trust 1 2.88% $1,140
    FIRST CONTINENTAL MORTGAGE, LTD. 1 3.13% $6,056
    FIRST HOME MORTGAGE CORPORATION 1 2.63% $8,257
    First Horizon Bank 1 3.50% $3,648
    First Mortgage Solutions, LLC 1 2.38% $1,826
    First Savings Bank 1 3.13% $16,142
    Goldwater Bank, N.A. 1 2.38% $49,322
    GSF Mortgage Corporation 1 3.00% $15,810
    Hancock Whitney Bank 1 2.75% $7,615
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.13% $10,085
    HomePromise Corporation 1 3.50% $5,773
    KELLER MORTGAGE, LLC 1 2.25% $6,543
    KS StateBank 1 3.25% $1,826
    LEADERONE FINANCIAL CORPORATION 1 2.25% $1,959
    Manufacturers and Traders Trust Company 1 2.50% $2,864
    MIDLAND MORTGAGE CORPORATION 1 3.25% $7,910
    Mortgage Network, Inc. 1 2.63% $10
    NATIONS DIRECT MORTGAGE, LLC 1 2.25% $1,849
    NTFN, INC. 1 2.75% $4,304
    OCMBC, INC. 1 2.75% $3,274
    OPEN MORTGAGE, LLC 1 2.63% $3,012
    PANORAMA MORTGAGE GROUP, LLC 1 3.25% $32,167
    Peoples Bank 1 3.25% $4,154
    POLARIS HOME FUNDING CORP. 1 2.25% $8,277
    Presidential Bank, FSB 1 2.50% $1,376
    Regions Bank 1 2.88% $3,306
    RESIDENTIAL HOME FUNDING CORP. 1 2.75% $8,222
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $6,081
    SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 1 2.75% $4,618
    Sierra Pacific Mortgage Company, Inc. 1 3.13% $4,021
    SOUTHWEST STAGE FUNDING, LLC 1 2.88% $4,160
    THE MORTGAGE FIRM, INC. 1 2.95% $9,203
    The Union Bank Company 1 2.25% $3,028
    TIDEWATER MORTGAGE SERVICES, INC. 1 2.75% $4,094
    Triumph Bank 1 2.63% $2,403
    United Fidelity Funding Corp. 1 2.38% $3,176
    UNITED SECURITY FINANCIAL CORP 1 1.75% $3,782
    U.S. Bank 1 2.25% $7,325
    Vellum Mortgage, Inc. 1 2.38% $4,001

    The top Savannah VA lender as defined by loan originations is Mortgage Research Center, LLC, with 636 VA loans originated. Their average total fees are $6,526, which is $1,590 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Savannah VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($2,050), LAKEVIEW LOAN SERVICING, LLC ($2,387), PENTAGON FEDERAL CREDIT UNION ($2,467), FREEDOM MORTGAGE CORPORATION ($2,570) and CALIBER HOME LOANS, INC. ($3,053).

    The lowest rate Savannah VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.34%), CLEARPATH LENDING (2.34%), PENTAGON FEDERAL CREDIT UNION (2.38%), HOME POINT FINANCIAL CORPORATION (2.38%) and Low VA Rates, LLC (2.38%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Savannah (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 $259,900 (5.3%) $374,490 (11.5%) 0.96 2,716
    2018-02-01 $267,250 (5.4%) $377,462 (8.7%) 0.96 2,777
    2018-03-01 $274,900 (6.0%) $379,064 (7.1%) 0.95 2,872
    2018-04-01 $275,516 (6.0%) $379,077 (5.5%) 0.92 2,891
    2018-05-01 $277,000 (6.6%) $379,385 (5.6%) 0.92 2,911
    2018-06-01 $274,900 (3.7%) $372,522 (2.1%) 0.92 2,946
    2018-07-01 $274,950 (4.0%) $375,353 (2.9%) 0.92 2,889
    2018-08-01 $271,950 (5.3%) $374,456 (5.0%) 0.91 2,824
    2018-09-01 $274,900 (5.8%) $377,145 (5.3%) 0.92 2,820
    2018-10-01 $274,900 (6.8%) $379,645 (4.8%) 0.92 2,862
    2018-11-01 $271,450 (4.4%) $375,789 (2.4%) 0.91 2,982
    2018-12-01 $271,600 (4.5%) $377,554 (2.2%) 0.93 2,918
    2019-01-01 $273,450 (5.2%) $384,949 (2.8%) 0.94 2,823
    2019-02-01 $277,450 (3.8%) $393,953 (4.4%) 0.93 2,792
    2019-03-01 $282,043 (2.6%) $400,957 (5.8%) 0.92 2,771
    2019-04-01 $286,450 (4.0%) $402,024 (6.1%) 0.90 2,797
    2019-05-01 $288,850 (4.3%) $403,513 (6.4%) 0.89 2,791
    2019-06-01 $289,900 (5.5%) $404,782 (8.7%) 0.89 2,756
    2019-07-01 $289,900 (5.4%) $401,905 (7.1%) 0.90 2,763
    2019-08-01 $289,413 (6.4%) $401,443 (7.2%) 0.91 2,749
    2019-09-01 $289,927 (5.5%) $402,482 (6.7%) 0.92 2,751
    2019-10-01 $289,900 (5.5%) $400,593 (5.5%) 0.92 2,771
    2019-11-01 $289,900 (6.8%) $402,695 (7.2%) 0.94 2,688
    2019-12-01 $292,950 (7.9%) $414,334 (9.7%) 0.98 2,629
    2020-01-01 $295,673 (8.1%) $417,977 (8.6%) 0.99 2,460
    2020-02-01 $299,000 (7.8%) $423,245 (7.4%) 0.96 2,483
    2020-03-01 $299,900 (6.3%) $425,697 (6.2%) 0.94 2,467
    2020-04-01 $299,900 (4.7%) $422,583 (5.1%) 0.93 2,497
    2020-05-01 $306,052 (6.0%) $431,132 (6.8%) 0.93 2,361
    2020-06-01 $313,750 (8.2%) $440,138 (8.7%) 0.92 2,175
    2020-07-01 $319,900 (10.4%) $445,894 (11.0%) 0.92 2,068
    2020-08-01 $320,000 (10.6%) $454,051 (13.1%) 0.91 1,910
    2020-09-01 $325,000 (12.1%) $466,588 (15.9%) 0.93 1,827
    2020-10-01 $318,789 (10.0%) $469,200 (17.1%) 0.91 1,747
    2020-11-01 $307,500 (6.1%) $456,681 (13.4%) 0.88 1,716
    2020-12-01 $302,450 (3.2%) $452,499 (9.2%) 0.89 1,575
    2021-01-01 $305,000 (3.2%) $459,762 (10.0%) 0.90 1,325
    2021-02-01 $307,450 (2.8%) $481,621 (13.8%) 0.88 1,075
    2021-03-01 $310,428 (3.5%) $502,400 (18.0%) 0.87 880
    2021-04-01 $320,695 (6.9%) $513,041 (21.4%) 0.86 797
    2021-05-01 $320,000 (4.6%) $525,623 (21.9%) 0.84 784
    2021-06-01 $324,900 (3.6%) $528,060 (20.0%) 0.84 771
    2021-07-01 $329,450 (3.0%) $526,260 (18.0%) 0.86 847
    2021-08-01 $339,563 (6.1%) $535,918 (18.0%) 0.89 843
    2021-09-01 $334,950 (3.1%) $544,512 (16.7%) 0.88 844
    2021-10-01 $340,000 (6.7%) $560,488 (19.5%) 0.89 795
    2021-11-01 $340,403 (10.7%) $558,903 (22.4%) 0.90 712
    2021-12-01 $349,950 (15.7%) $583,865 (29.0%) 0.93 655
    2022-01-01 $349,900 (14.7%) $601,555 (30.8%) 0.93 537
    2022-02-01 $377,450 (22.8%) $641,986 (33.3%) 0.96 464
    2022-03-01 $387,400 (24.8%) $641,183 (27.6%) 0.96 464
    2022-04-01 $399,000 (24.4%) $646,298 (26.0%) 0.94 494
    Savannah's median listing price for 2022-04-01 was $399,000, a difference of $78,305 (24.4%) versus the prior year and $11,600 versus the prior month.

    Savannah's median listing price comes in at 94% of the national average.

    Savannah's average listing price for 2022-04-01 was $646,298, a difference of $133,257 (26.0%) versus the prior year and $5,115 versus the prior month.

    For the 2022-04-01 period, Savannah had 494 MLS listings, a difference of 30 listings (6%) versus the prior month and -303 listings (-38%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Savannah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 99 days 2,168 sqft
    2018-02-01 91 days 2,187 sqft
    2018-03-01 68 days 2,248 sqft
    2018-04-01 69 days 2,271 sqft
    2018-05-01 72 days 2,253 sqft
    2018-06-01 74 days 2,211 sqft
    2018-07-01 78 days 2,220 sqft
    2018-08-01 81 days 2,193 sqft
    2018-09-01 85 days 2,202 sqft
    2018-10-01 83 days 2,203 sqft
    2018-11-01 82 days 2,211 sqft
    2018-12-01 88 days 2,223 sqft
    2019-01-01 95 days 2,214 sqft
    2019-02-01 99 days 2,229 sqft
    2019-03-01 88 days 2,250 sqft
    2019-04-01 71 days 2,280 sqft
    2019-05-01 70 days 2,301 sqft
    2019-06-01 72 days 2,320 sqft
    2019-07-01 72 days 2,323 sqft
    2019-08-01 76 days 2,322 sqft
    2019-09-01 84 days 2,322 sqft
    2019-10-01 84 days 2,302 sqft
    2019-11-01 87 days 2,304 sqft
    2019-12-01 90 days 2,266 sqft
    2020-01-01 99 days 2,279 sqft
    2020-02-01 92 days 2,294 sqft
    2020-03-01 75 days 2,312 sqft
    2020-04-01 77 days 2,332 sqft
    2020-05-01 80 days 2,343 sqft
    2020-06-01 80 days 2,323 sqft
    2020-07-01 71 days 2,394 sqft
    2020-08-01 63 days 2,358 sqft
    2020-09-01 61 days 2,319 sqft
    2020-10-01 65 days 2,244 sqft
    2020-11-01 66 days 2,158 sqft
    2020-12-01 71 days 2,127 sqft
    2021-01-01 79 days 2,118 sqft
    2021-02-01 67 days 2,068 sqft
    2021-03-01 50 days 2,037 sqft
    2021-04-01 44 days 2,069 sqft
    2021-05-01 37 days 2,100 sqft
    2021-06-01 38 days 2,050 sqft
    2021-07-01 37 days 2,077 sqft
    2021-08-01 38 days 2,029 sqft
    2021-09-01 43 days 2,019 sqft
    2021-10-01 44 days 2,048 sqft
    2021-11-01 47 days 2,070 sqft
    2021-12-01 48 days 2,087 sqft
    2022-01-01 53 days 2,059 sqft
    2022-02-01 37 days 2,131 sqft
    2022-03-01 30 days 2,135 sqft
    2022-04-01 29 days 2,194 sqft
    Savannah's median listing age (time on market) for 2022-04-01 was 29 days. This is -34% shorter than the same period one year ago.

    Savannah's median square footage for active listings during the 2022-04-01 period was 2,194 sqft. One year prior, the average listing was 2,069 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.