Savannah VA Loan Rates, Closing Costs & Stats

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 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.

Savannah's 137 lenders originated 1,799 VA loans during 2023. The total origination value was $620,395,000, with an average VA loan value of $344,855.

Savannah VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Savannah averaged 6.67% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Savannah's average VA mortgage closing costs are $6,512.

The average rate for the prior week (2024-06-07) was 6.34% and one month ago for the week of 2024-05-10, the average rate was 6.76%.

The average rate one year ago was 6.7%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.61%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Savannah level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 261 6.52% $9,061
UNITED WHOLESALE MORTGAGE, LLC 126 6.23% $9,287
DHI MORTGAGE COMPANY, LTD. 111 5.18% $8,366
BROKER SOLUTIONS, INC. 107 6.06% $10,001
QUICKEN LOANS, LLC 100 6.14% $11,631
NAVY FEDERAL CREDIT UNION 70 5.82% $8,232
GUARANTEED RATE, INC. 55 6.20% $8,771
PENNYMAC LOAN SERVICES, LLC 52 5.69% $11,861
FREEDOM MORTGAGE CORPORATION 48 6.49% $16,638
BANKSOUTH MORTGAGE COMPANY, LLC 43 5.93% $11,226
MOVEMENT MORTGAGE, LLC 42 6.62% $10,680
Plains Commerce Bank 34 6.28% $9,312
USAA Federal Savings Bank 34 6.30% $10,827
GUILD MORTGAGE COMPANY 32 6.37% $10,216
EAGLE HOME MORTGAGE, LLC 30 5.59% $7,569
Flagstar Bank, FSB 30 6.62% $9,730
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6.54% $8,506
Ameris Bank 27 6.30% $12,205
Colony Bank 26 6.12% $7,660
LOANDEPOT.COM, LLC 26 5.90% $14,879
PULTE MORTGAGE LLC 23 6.15% $7,001
The Federal Savings Bank 20 6.19% $15,746
Magnolia Bank 17 5.94% $11,424
VILLAGE CAPITAL MORTGAGE 14 6.27% $10,775
AMERICAN FINANCIAL NETWORK, INC. 14 6.55% $11,463
Mr. Cooper ( Nationstar Mortgage ) 14 5.81% $13,662
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 6.96% $7,965
JET HOMELOANS, LLC 13 6.31% $9,189
NEW DAY FINANCIAL, LLC 13 7.44% $16,167
AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.64% $10,453
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 13 5.55% $7,975
Paramount Residential Mortgage Group, Inc. 12 6.16% $9,853
Renasant Bank 11 6.39% $10,719
CARDINAL FINANCIAL 10 6.27% $15,959
SOUTHPOINT FINANCIAL SERVICES, INC. 10 7.13% $9,959
PENTAGON FEDERAL CREDIT UNION 9 5.60% $9,351
CMG MORTGAGE, INC. 9 6.57% $13,395
VANDERBILT MORTGAGE AND FINANCE, INC. 9 6.29% $5,430
AMERISAVE MORTGAGE CORPORATION 9 5.90% $13,502
Prosperity Home Mortgage, LLC 9 6.15% $10,072
NFM, INC. 8 6.91% $13,595
HOMESTAR FINANCIAL CORPORATION 6 6.33% $4,233
NBH Bank 6 6.27% $8,813
SWBC MORTGAGE CORPORATION 5 6.45% $9,811
CROSSCOUNTRY MORTGAGE, LLC 5 7.08% $9,770
Equity Prime Mortgage LLC 5 6.98% $9,448
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.90% $10,217
CALIBER HOME LOANS, INC. 4 6.13% $9,234
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.66% $9,463
FIRST CONTINENTAL MORTGAGE, LTD. 4 6.47% $4,325
Truist 4 6.09% $3,016
RESIDENTIAL HOME FUNDING CORP. 4 6.56% $6,886
PLANET HOME LENDING, LLC 4 5.56% $6,924
PLAZA HOME MORTGAGE, INC. 4 6.16% $17,148
OCMBC, INC. 4 6.94% $6,206
NBKC BANK 4 6.03% $7,494
HOMESPIRE MORTGAGE CORPORATION 3 5.88% $13,682
BAY EQUITY LLC 3 6.12% $13,602
Wells Fargo Bank 3 6.08% $7,217
ACADEMY MORTGAGE CORPORATION 3 6.96% $11,137
LOANPAL, LLC 3 5.54% $17,048
INTERCOASTAL MORTGAGE COMPANY 3 6.96% $12,029
UNION HOME MORTGAGE CORP. 3 5.92% $7,982
MILEND, INC. 3 6.83% $8,538
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $15,380
T2 FINANCIAL LLC 2 5.81% $11,860
RELIANCE FIRST CAPITAL, LLC 2 5.94% $13,547
Bank of England 2 5.75% $6,903
CANOPY MORTGAGE, LLC 2 6.88% $9,564
NEWREZ LLC 2 6.50% $12,973
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.38% $12,387
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.63% $12,449
HOMESIDE FINANCIAL, LLC 2 7.12% $10,468
BOKF 2 6.63% $12,874
Queensborough National Bank & Trust Company 2 7.19% $10,900
LAKEVIEW LOAN SERVICING, LLC 2 6.19% $8,097
First Federal Bank 2 6.44% $15,556
United Community Bank 2 6.06% $8,692
PREMIA MORTGAGE, LLC 2 6.88% $113
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.00% $6,335
DAS Acquisition Company, LLC 2 7.25% $12,254
RADIUS FINANCIAL GROUP INC. 1 6.75% $10,427
Residential Mortgage Solutions, Inc. 1 7.25% $9,049
ROYAL UNITED MORTGAGE LLC 1 6.63% $24,384
Service Federal Credit Union 1 6.50% $774
Shamrock Home Loans, Inc. 1 6.75% $7,676
Sierra Pacific Mortgage Company, Inc. 1 7.13% $14,281
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.25% $9,935
South State Bank 1 5.75% $11,098
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $8,540
SUMMIT FUNDING, INC. 1 7.13% $13,363
The Central Trust Bank 1 5.75% $17,528
THRIVE MORTGAGE, LLC 1 6.25% $17,482
TOWNE MORTGAGE COMPANY 1 7.25% $5,955
Trustmark National Bank 1 5.50% $2,345
AmeriHome Mortgage Company, LLC 1 7.13% $6,290
American Mortgage & Equity Consultants, Inc. 1 7.13% $2,745
US MORTGAGE CORPORATION 1 5.75% $4,769
Allied First Bank,sb 1 8.25% $4,265
VAN DYK MORTGAGE CORPORATION 1 7.25% $12,096
VERITAS FUNDING, LLC 1 5.75% $27,265
ACOPIA, LLC 1 7.38% $6,713
FLAT BRANCH MORTGAGE, INC. 1 6.25% $13,257
F&M Bank 1 6.25% $10,892
Goldwater Bank, N.A. 1 5.75% $5,238
GoPrime Mortgage, Inc. 1 5.88% $8,729
First Savings Bank 1 6.75% $22,876
HOMESTEAD FUNDING CORP. 1 7.00% $3,805
FIRST COMMUNITY MORTGAGE, INC. 1 5.63% $14,456
JPMorgan Chase Bank 1 6.49% $941
EVERETT FINANCIAL, INC. 1 8.13% $16,549
Lakeview Community Capital, LLC 1 5.25% $6,018
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $8,937
ENVOY MORTGAGE, LTD 1 6.63% $5,035
MID AMERICA MORTGAGE, INC. 1 7.25% $7,842
Mid-Continent Funding, Inc. 1 6.13% $23,409
MORIA DEVELOPMENT, INC. 1 6.50% $4,483
MORTGAGEONE, INC. 1 8.00% $2,684
Credence Funding Corporation 1 5.25% $3,281
COMMUNITY MORTGAGE CORPORATION 1 6.25% $5,487
Citizens Bank 1 7.13% $15,326
Century Mortgage Company DBA Century Lending Company 1 7.50% $9,295
NATION ONE MORTGAGE CORPORATION 1 8.38% $11,805
Nations Lending Corporation 1 6.75% $22,016
NATIONS RELIABLE LENDING, LLC 1 6.25% $852
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.75% $31,820
Carrington Mortgage Services, LLC 1 5.38% $13,948
CALCON MUTUAL MORTGAGE LLC 1 6.75% $9,685
OPEN MORTGAGE, LLC 1 6.00% $16,360
BNC National Bank 1 5.25% $3,105
Bell Bank 1 5.75% $14,342
PHH Mortgage Corporation 1 6.49% $17,469
Pinnacle Bank 1 6.75% $13,961
BELEM SERVICING LLC 1 5.38% $11,898
Presidential Bank, FSB 1 7.25% $7,054
BAYSHORE MORTGAGE FUNDING, LLC 1 7.00% $5,097
Barrington Bank & Trust Company, N.A. 1 5.63% $13,710

The top Savannah VA lender as defined by loan originations is Mortgage Research Center, LLC, with 261 VA loans originated. Their average total fees are $9,061, which is $226 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Savannah VA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($7,001), EAGLE HOME MORTGAGE, LLC ($7,569), Colony Bank ($7,660), MORTGAGE SOLUTIONS OF COLORADO, LLC ($7,965) and K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. ($7,975).

The lowest rate Savannah VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.18%), K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.55%), EAGLE HOME MORTGAGE, LLC (5.59%), PENNYMAC LOAN SERVICES, LLC (5.69%) and Mr. Cooper ( Nationstar Mortgage ) (5.81%).


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 $266,650 (6.9%) $384,285 (12.1%) 0.99 2,367
2018-02-01 $274,623 (6.7%) $387,796 (9.6%) 1.00 2,425
2018-03-01 $279,000 (6.3%) $388,826 (7.6%) 0.98 2,526
2018-04-01 $279,561 (5.5%) $388,248 (5.9%) 0.95 2,542
2018-05-01 $279,900 (5.6%) $388,548 (6.0%) 0.93 2,563
2018-06-01 $279,000 (4.3%) $381,338 (2.9%) 0.93 2,591
2018-07-01 $279,900 (5.2%) $384,867 (3.2%) 0.93 2,529
2018-08-01 $275,071 (4.6%) $382,995 (4.0%) 0.92 2,467
2018-09-01 $279,250 (5.4%) $389,745 (5.5%) 0.94 2,417
2018-10-01 $279,500 (7.3%) $393,779 (6.1%) 0.95 2,445
2018-11-01 $278,975 (5.3%) $392,039 (4.1%) 0.95 2,542
2018-12-01 $278,000 (4.9%) $395,523 (4.3%) 0.96 2,500
2019-01-01 $278,200 (4.3%) $402,217 (4.7%) 0.96 2,427
2019-02-01 $283,555 (3.3%) $410,377 (5.8%) 0.96 2,412
2019-03-01 $288,186 (3.3%) $417,281 (7.3%) 0.94 2,434
2019-04-01 $291,423 (4.2%) $419,903 (8.2%) 0.93 2,487
2019-05-01 $289,950 (3.6%) $419,564 (8.0%) 0.91 2,484
2019-06-01 $290,000 (3.9%) $421,639 (10.6%) 0.91 2,443
2019-07-01 $290,363 (3.7%) $418,300 (8.7%) 0.91 2,438
2019-08-01 $291,845 (6.1%) $416,150 (8.7%) 0.92 2,437
2019-09-01 $293,564 (5.1%) $414,237 (6.3%) 0.94 2,449
2019-10-01 $294,709 (5.4%) $412,962 (4.9%) 0.95 2,446
2019-11-01 $294,000 (5.4%) $414,040 (5.6%) 0.96 2,356
2019-12-01 $295,600 (6.3%) $422,490 (6.8%) 0.99 2,328
2020-01-01 $297,445 (6.9%) $424,131 (5.5%) 0.99 2,195
2020-02-01 $299,900 (5.8%) $430,805 (5.0%) 0.98 2,211
2020-03-01 $304,888 (5.8%) $435,587 (4.4%) 0.96 2,182
2020-04-01 $300,367 (3.1%) $430,237 (2.5%) 0.94 2,215
2020-05-01 $309,000 (6.6%) $437,326 (4.2%) 0.94 2,120
2020-06-01 $318,564 (9.9%) $445,897 (5.8%) 0.94 1,966
2020-07-01 $322,350 (11.0%) $451,189 (7.9%) 0.93 1,850
2020-08-01 $322,990 (10.7%) $457,713 (10.0%) 0.93 1,704
2020-09-01 $325,000 (10.7%) $472,791 (14.1%) 0.93 1,618
2020-10-01 $319,000 (8.2%) $469,196 (13.6%) 0.91 1,564
2020-11-01 $304,360 (3.5%) $455,906 (10.1%) 0.89 1,537
2020-12-01 $300,000 (1.5%) $452,665 (7.1%) 0.89 1,414
2021-01-01 $305,000 (2.5%) $464,487 (9.5%) 0.91 1,204
2021-02-01 $306,788 (2.3%) $482,200 (11.9%) 0.89 1,009
2021-03-01 $312,060 (2.4%) $500,798 (15.0%) 0.89 832
2021-04-01 $319,725 (6.4%) $496,215 (15.3%) 0.87 759
2021-05-01 $321,308 (4.0%) $516,510 (18.1%) 0.85 737
2021-06-01 $322,484 (1.2%) $526,045 (18.0%) 0.85 726
2021-07-01 $329,000 (2.1%) $523,504 (16.0%) 0.87 791
2021-08-01 $329,500 (2.0%) $526,566 (15.0%) 0.88 776
2021-09-01 $329,248 (1.3%) $537,634 (13.7%) 0.88 768
2021-10-01 $339,857 (6.5%) $546,272 (16.4%) 0.91 733
2021-11-01 $339,102 (11.4%) $543,500 (19.2%) 0.91 654
2021-12-01 $349,450 (16.5%) $560,952 (23.9%) 0.95 602
2022-01-01 $349,610 (14.6%) $577,187 (24.3%) 0.95 494
2022-02-01 $372,080 (21.3%) $616,999 (28.0%) 0.97 422
2022-03-01 $383,128 (22.8%) $629,561 (25.7%) 0.96 436
2022-04-01 $395,000 (23.5%) $640,365 (29.1%) 0.94 453
2022-05-01 $394,725 (22.9%) $609,964 (18.1%) 0.90 603
2022-06-01 $399,900 (24.0%) $607,843 (15.6%) 0.89 695
2022-07-01 $404,783 (23.0%) $611,263 (16.8%) 0.91 833
2022-08-01 $399,000 (21.1%) $589,445 (11.9%) 0.92 941
2022-09-01 $399,900 (21.5%) $601,230 (11.8%) 0.93 953
2022-10-01 $399,999 (17.7%) $606,430 (11.0%) 0.94 1,005
2022-11-01 $399,642 (17.9%) $594,388 (9.4%) 0.96 1,046
2022-12-01 $399,900 (14.4%) $595,112 (6.1%) 0.99 1,006
2023-01-01 $399,495 (14.3%) $594,455 (3.0%) 0.99 900
2023-02-01 $399,048 (7.3%) $612,638 (-0.7%) 0.96 757
2023-03-01 $408,963 (6.7%) $625,703 (-0.6%) 0.96 758
2023-04-01 $427,990 (8.4%) $665,390 (3.9%) 1.00 695
2023-05-01 $432,475 (9.6%) $678,283 (11.2%) 0.98 744
2023-06-01 $432,173 (8.1%) $855,227 (40.7%) 0.97 794
2023-07-01 $425,000 (5.0%) $850,067 (39.1%) 0.97 797
2023-08-01 $425,000 (6.5%) $840,638 (42.6%) 0.98 825
2023-09-01 $429,941 (7.5%) $834,273 (38.8%) 1.00 879
2023-10-01 $426,604 (6.7%) $819,183 (35.1%) 1.00 998
2023-11-01 $417,000 (4.3%) $809,333 (36.2%) 0.99 1,055
2023-12-01 $420,700 (5.2%) $796,283 (33.8%) 1.03 1,027
2024-01-01 $420,250 (5.2%) $827,494 (39.2%) 1.03 938
2024-02-01 $430,123 (7.8%) $871,661 (42.3%) 1.04 920
2024-03-01 $439,900 (7.6%) $887,067 (41.8%) 1.04 939
2024-04-01 $429,849 (0.4%) $858,751 (29.1%) 1.00 1,083
2024-05-01 $447,785 (3.5%) $880,217 (29.8%) 1.01 1,123
Savannah's median listing price for 2024-05-01 was $447,785, a difference of $15,310 (3.5%) versus the prior year and $17,936 versus the prior month.

Savannah's median listing price comes in at 101% of the national average.

Savannah's average listing price for 2024-05-01 was $880,217, a difference of $201,934 (29.8%) versus the prior year and $21,466 versus the prior month.

For the 2024-05-01 period, Savannah had 1,123 MLS listings, a difference of 40 listings (4%) versus the prior month and 379 listings (51%) 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 92 days 2,173 sqft
2018-02-01 83 days 2,200 sqft
2018-03-01 61 days 2,248 sqft
2018-04-01 64 days 2,264 sqft
2018-05-01 66 days 2,239 sqft
2018-06-01 68 days 2,224 sqft
2018-07-01 72 days 2,228 sqft
2018-08-01 77 days 2,192 sqft
2018-09-01 79 days 2,210 sqft
2018-10-01 77 days 2,201 sqft
2018-11-01 75 days 2,202 sqft
2018-12-01 81 days 2,202 sqft
2019-01-01 89 days 2,200 sqft
2019-02-01 92 days 2,212 sqft
2019-03-01 78 days 2,238 sqft
2019-04-01 65 days 2,263 sqft
2019-05-01 64 days 2,280 sqft
2019-06-01 67 days 2,294 sqft
2019-07-01 71 days 2,293 sqft
2019-08-01 73 days 2,289 sqft
2019-09-01 76 days 2,289 sqft
2019-10-01 78 days 2,286 sqft
2019-11-01 84 days 2,273 sqft
2019-12-01 88 days 2,244 sqft
2020-01-01 95 days 2,247 sqft
2020-02-01 87 days 2,250 sqft
2020-03-01 69 days 2,296 sqft
2020-04-01 74 days 2,290 sqft
2020-05-01 78 days 2,300 sqft
2020-06-01 80 days 2,295 sqft
2020-07-01 71 days 2,346 sqft
2020-08-01 64 days 2,312 sqft
2020-09-01 65 days 2,271 sqft
2020-10-01 65 days 2,203 sqft
2020-11-01 64 days 2,147 sqft
2020-12-01 69 days 2,104 sqft
2021-01-01 75 days 2,097 sqft
2021-02-01 57 days 2,056 sqft
2021-03-01 45 days 2,036 sqft
2021-04-01 41 days 2,055 sqft
2021-05-01 33 days 2,103 sqft
2021-06-01 38 days 2,038 sqft
2021-07-01 36 days 2,094 sqft
2021-08-01 40 days 2,007 sqft
2021-09-01 44 days 2,017 sqft
2021-10-01 50 days 2,047 sqft
2021-11-01 53 days 2,046 sqft
2021-12-01 56 days 2,064 sqft
2022-01-01 60 days 2,046 sqft
2022-02-01 30 days 2,081 sqft
2022-03-01 26 days 2,112 sqft
2022-04-01 26 days 2,160 sqft
2022-05-01 19 days 2,132 sqft
2022-06-01 25 days 2,218 sqft
2022-07-01 30 days 2,161 sqft
2022-08-01 37 days 2,161 sqft
2022-09-01 44 days 2,157 sqft
2022-10-01 48 days 2,126 sqft
2022-11-01 50 days 2,156 sqft
2022-12-01 58 days 2,126 sqft
2023-01-01 68 days 2,132 sqft
2023-02-01 63 days 2,114 sqft
2023-03-01 45 days 2,183 sqft
2023-04-01 41 days 2,244 sqft
2023-05-01 32 days 2,225 sqft
2023-06-01 33 days 2,197 sqft
2023-07-01 39 days 2,161 sqft
2023-08-01 39 days 2,087 sqft
2023-09-01 42 days 2,081 sqft
2023-10-01 44 days 2,092 sqft
2023-11-01 49 days 2,041 sqft
2023-12-01 55 days 2,007 sqft
2024-01-01 60 days 1,976 sqft
2024-02-01 49 days 2,022 sqft
2024-03-01 43 days 2,060 sqft
2024-04-01 40 days 2,029 sqft
2024-05-01 37 days 2,099 sqft
Savannah's median listing age (time on market) for 2024-05-01 was 37 days. This is 17% longer than the same period one year ago.

Savannah's median square footage for active listings during the 2024-05-01 period was 2,099 sqft. One year prior, the average listing was 2,225 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.