Savannah VA Loans

SAVANNAH, GA

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.