Savannah VA Loan Rates, Closing Costs & Stats

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 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 6.19% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.45% and one month ago for the week of 2024-10-04, the average rate was 5.77%.

    The average rate one year ago was 7.23%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.82%.

    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%).

    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.