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 152 lenders originated 2,507 VA loans during 2022. The total origination value was $801,925,000, with an average VA loan value of $319,874.

    Savannah VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Savannah averaged 6.33% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Savannah's average VA mortgage closing costs are $6,107.

    The average rate for the prior week (2023-05-19) was 6.16% and one month ago for the week of 2023-04-21, the average rate was 5.88%.

    The average rate one year ago was 4.75%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.21%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 414 4.85% $8,812
    QUICKEN LOANS, LLC 178 4.32% $9,263
    DHI MORTGAGE COMPANY, LTD. 143 4.01% $9,707
    UNITED WHOLESALE MORTGAGE, LLC 137 4.58% $9,180
    BROKER SOLUTIONS, INC. 117 4.69% $10,299
    PENNYMAC LOAN SERVICES, LLC 94 3.87% $10,604
    NAVY FEDERAL CREDIT UNION 85 3.89% $6,439
    BANKSOUTH MORTGAGE COMPANY, LLC 73 4.19% $10,135
    FREEDOM MORTGAGE CORPORATION 72 4.65% $11,221
    MOVEMENT MORTGAGE, LLC 61 5.22% $9,015
    USAA Federal Savings Bank 52 4.42% $7,774
    CERTAINTY HOME LOANS, LLC 49 4.68% $9,027
    LOANDEPOT.COM, LLC 43 4.41% $11,161
    Flagstar Bank, FSB 39 4.26% $9,491
    NEW DAY FINANCIAL, LLC 38 5.17% $12,706
    MORTGAGE SOLUTIONS OF COLORADO, LLC 32 5.56% $11,087
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 32 5.14% $9,721
    GUARANTEED RATE, INC. 31 4.86% $7,994
    Colony Bank 27 4.53% $6,345
    CALIBER HOME LOANS, INC. 25 5.12% $10,183
    GUILD MORTGAGE COMPANY 25 4.09% $10,063
    Plains Commerce Bank 23 4.38% $10,991
    ANGEL OAK HOME LOANS LLC 23 4.70% $7,624
    VANDERBILT MORTGAGE AND FINANCE, INC. 22 4.28% $11,414
    PENTAGON FEDERAL CREDIT UNION 22 3.63% $10,052
    The Federal Savings Bank 22 4.80% $14,224
    HOMESTAR FINANCIAL CORPORATION 18 4.97% $8,824
    Paramount Residential Mortgage Group, Inc. 16 5.27% $10,565
    JET HOMELOANS, LLC 16 5.00% $9,737
    Mr. Cooper ( Nationstar Mortgage ) 16 5.30% $8,132
    SWBC MORTGAGE CORPORATION 15 4.88% $14,469
    HOME POINT FINANCIAL CORPORATION 15 4.35% $12,740
    VILLAGE CAPITAL MORTGAGE 14 4.25% $9,133
    Wells Fargo Bank 14 3.65% $6,642
    AMERISAVE MORTGAGE CORPORATION 14 4.39% $13,966
    Magnolia Bank 12 5.23% $11,757
    Renasant Bank 12 4.59% $9,757
    CARDINAL FINANCIAL 12 4.73% $9,758
    LAKEVIEW LOAN SERVICING, LLC 11 3.81% $6,981
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 11 4.85% $8,653
    Truist 11 4.35% $10,828
    PULTE MORTGAGE LLC 10 4.73% $7,714
    CROSSCOUNTRY MORTGAGE, LLC 10 5.33% $12,889
    Ameris Bank 10 4.50% $12,110
    EAGLE HOME MORTGAGE, LLC 9 5.07% $9,127
    Carrington Mortgage Services, LLC 9 4.35% $7,467
    ACADEMY MORTGAGE CORPORATION 8 5.00% $11,422
    MUTUAL OF OMAHA MORTGAGE, INC. 8 4.91% $9,857
    Lakeview Community Capital, LLC 7 3.36% $5,023
    CLEARPATH LENDING 7 4.98% $14,733
    Armed Forces Bank 7 4.20% $7,816
    ENVOY MORTGAGE, LTD 7 5.46% $11,099
    LOANPAL, LLC 7 4.27% $9,384
    Barrington Bank & Trust Company, N.A. 7 4.61% $7,574
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 4.10% $5,869
    AMERICAN FINANCING CORPORATION 6 4.25% $11,167
    DRAPER AND KRAMER MORTGAGE CORP. 6 3.35% $8,809
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.92% $8,291
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 5.46% $9,695
    NEWREZ LLC 6 4.18% $6,921
    Mid-Continent Funding, Inc. 6 4.98% $12,678
    CMG MORTGAGE, INC. 5 4.43% $9,249
    South State Bank 5 4.28% $13,127
    Century Mortgage Company DBA Century Lending Company 5 4.88% $11,871
    T2 FINANCIAL LLC 5 5.13% $8,580
    Prosperity Home Mortgage, LLC 5 5.05% $8,961
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 4.13% $5,773
    Wyndham Capital Mortgage, Inc. 4 4.72% $8,132
    North American Savings Bank, F.S.B. 4 4.78% $13,506
    SOUTHPOINT FINANCIAL SERVICES, INC. 4 5.44% $9,110
    TOWNE MORTGAGE COMPANY 4 3.97% $10,107
    MILEND, INC. 4 5.44% $14,315
    NBKC BANK 4 5.06% $9,308
    KELLER MORTGAGE, LLC 3 4.50% $11,071
    Bank of America 3 4.46% $8,962
    BNC National Bank 3 4.00% $8,555
    Capital City Home Loans, LLC 3 4.13% $11,349
    CONTOUR MORTGAGE CORPORATION 3 5.63% $13,682
    CREDIT UNION FINANCIAL SERVICES, LLC 3 4.62% $6,772
    DAS Acquisition Company, LLC 3 5.42% $7,057
    First Federal Bank 3 4.21% $14,397
    HOMESPIRE MORTGAGE CORPORATION 3 3.71% $15,910
    INTERCOASTAL MORTGAGE COMPANY 3 5.13% $7,706
    JMJ FINANCIAL GROUP 3 3.63% $10,238
    M&T Bank 3 3.79% $4,060
    NATIONS DIRECT MORTGAGE, LLC 3 5.29% $8,490
    NBH Bank 3 4.92% $8,355
    Northpointe Bank 3 5.33% $10,766
    Texana Bank 3 4.38% $11,823
    Mortgage Network, Inc. 2 5.56% $21,887
    STOCKTON MORTGAGE CORPORATION 2 4.25% $7,034
    CHURCHILL MORTGAGE CORPORATION 2 4.44% $8,206
    First Mortgage Solutions, LLC 2 2.75% $10,755
    PLANET HOME LENDING, LLC 2 4.13% $12,007
    ACOPIA, LLC 2 4.81% $10,608
    The Central Trust Bank 2 4.25% $11,123
    Fifth Third Bank 2 3.88% $10,205
    TOP FLITE FINANCIAL, INC. 2 4.75% $14,266
    JPMorgan Chase Bank 2 3.43% $11,033
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.37% $9,956
    AMERICAN INTERNET MORTGAGE, INC. 2 4.13% $10,811
    NP, Inc. 2 3.50% $6,927
    INTERLINC MORTGAGE SERVICES, LLC 2 3.94% $2,892
    UNIVERSITY LENDING GROUP, LLC 2 4.88% $10,562
    EMBRACE HOME LOANS, INC. 2 2.81% $5,729
    AMERIFIRST FINANCIAL CORPORATION 2 5.75% $9,764
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 5.00% $12,812
    1ST SIGNATURE LENDING, LLC 2 5.25% $13,236
    Low VA Rates, LLC 2 4.44% $9,125
    GMFS LLC 2 4.37% $8,014
    Gateway First Bank 2 4.81% $13,263
    First National Bank Texas 2 6.12% $7,656
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 4.25% $9,632
    DELMAR FINANCIAL COMPANY 1 5.63% $1,668
    CityWorth Mortgage LLC 1 3.75% $17,358
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.63% $9,543
    Synovus Bank 1 3.50% $3,213
    Capital Bank 1 2.75% $3,323
    BAY EQUITY LLC 1 6.75% $8,672
    Bank of England 1 3.63% $11,309
    UNION HOME MORTGAGE CORP. 1 7.13% $6,007
    Union Savings Bank 1 4.25% $22,340
    Amerifirst Financial, Inc. 1 3.25% $8,351
    Univest Bank and Trust Co. 1 3.00% $13,762
    U.S. Bank 1 2.63% $6,150
    LOANFLIGHT LENDING, LLC 1 4.12% $12,758
    LIBERTY HOME MORTGAGE CORPORATION 1 5.13% $16,546
    Meridian Bank Corporation 1 5.13% $11,212
    LEADERONE FINANCIAL CORPORATION 1 3.25% $1,621
    MID AMERICA MORTGAGE, INC. 1 6.88% $3,142
    MORTGAGE FINANCIAL GROUP, INC. 1 5.13% $11,870
    GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $16,706
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.25% $4,573
    GUARANTEED RATE AFFINITY, LLC 1 6.58% $3,438
    Nations Lending Corporation 1 6.88% $6,635
    Goldwater Bank, N.A. 1 6.99% $13,515
    Advisors Mortgage Group, L.L.C. 1 4.50% $7,327
    FLAT BRANCH MORTGAGE, INC. 1 5.25% $11,348
    First United Bank and Trust Company 1 7.13% $8,890
    Wolfe Financial, Inc 1 5.75% $9,097
    NTFN, INC. 1 6.75% $2,086
    OCMBC, INC. 1 6.25% $4,188
    ON Q FINANCIAL, INC. 1 3.75% $2,995
    First State Bank of St. Charles, Missouri 1 6.25% $14,050
    First Savings Bank 1 4.63% $16,799
    PIKE CREEK MORTGAGE SERVICES, INC. 1 5.25% $13,464
    EVERETT FINANCIAL, INC. 1 3.25% $0
    Equity Prime Mortgage LLC 1 4.00% $10,386
    EMM LOANS LLC 1 2.50% $13,325
    RELIANCE FIRST CAPITAL, LLC 1 5.00% $19,251
    Residential Mortgage Solutions, Inc. 1 4.75% $11,228
    SIRVA MORTGAGE, INC. 1 3.00% $2,663

    The top Savannah VA lender as defined by loan originations is Mortgage Research Center, LLC, with 414 VA loans originated. Their average total fees are $8,812, which is $451 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Savannah VA lenders (with over 10 loans originated) are Colony Bank ($6,345), NAVY FEDERAL CREDIT UNION ($6,439), Wells Fargo Bank ($6,642), LAKEVIEW LOAN SERVICING, LLC ($6,981) and ANGEL OAK HOME LOANS LLC ($7,624).

    The lowest rate Savannah VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.63%), Wells Fargo Bank (3.65%), LAKEVIEW LOAN SERVICING, LLC (3.81%), PENNYMAC LOAN SERVICES, LLC (3.87%) and NAVY FEDERAL CREDIT UNION (3.89%).

    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%) $387,819 (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%) $393,775 (6.1%) 0.95 2,445
    2018-11-01 $279,000 (5.3%) $392,032 (4.1%) 0.95 2,543
    2018-12-01 $278,000 (4.9%) $395,515 (4.3%) 0.96 2,501
    2019-01-01 $278,350 (4.4%) $402,206 (4.7%) 0.96 2,428
    2019-02-01 $283,660 (3.3%) $410,363 (5.8%) 0.96 2,413
    2019-03-01 $289,700 (3.8%) $415,486 (6.9%) 0.97 2,435
    2019-04-01 $291,923 (4.4%) $419,918 (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 $297,500 (8.2%) $422,481 (10.3%) 0.93 2,435
    2019-09-01 $301,238 (7.9%) $429,234 (10.1%) 0.95 2,302
    2019-10-01 $293,900 (5.2%) $413,128 (4.9%) 0.95 2,440
    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 (5.7%) $430,805 (5.0%) 0.98 2,211
    2020-03-01 $304,888 (5.2%) $435,587 (4.8%) 0.96 2,182
    2020-04-01 $300,367 (2.9%) $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 (8.6%) $457,713 (8.3%) 0.93 1,704
    2020-09-01 $325,000 (7.9%) $472,791 (10.2%) 0.93 1,618
    2020-10-01 $319,000 (8.5%) $469,196 (13.6%) 0.91 1,564
    2020-11-01 $304,335 (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%) $464,601 (9.5%) 0.91 1,204
    2021-02-01 $307,010 (2.4%) $482,382 (12.0%) 0.89 1,009
    2021-03-01 $312,060 (2.4%) $501,286 (15.1%) 0.89 832
    2021-04-01 $320,299 (6.6%) $496,672 (15.4%) 0.87 759
    2021-05-01 $321,496 (4.0%) $516,510 (18.1%) 0.85 737
    2021-06-01 $322,500 (1.2%) $526,186 (18.0%) 0.85 726
    2021-07-01 $329,000 (2.1%) $523,175 (16.0%) 0.87 792
    2021-08-01 $329,500 (2.0%) $526,325 (15.0%) 0.88 777
    2021-09-01 $329,248 (1.3%) $537,744 (13.7%) 0.88 770
    2021-10-01 $339,900 (6.6%) $546,100 (16.4%) 0.91 736
    2021-11-01 $337,731 (11.0%) $542,994 (19.1%) 0.90 655
    2021-12-01 $348,950 (16.3%) $562,138 (24.2%) 0.95 604
    2022-01-01 $349,000 (14.4%) $577,187 (24.2%) 0.94 494
    2022-02-01 $372,240 (21.3%) $617,357 (28.0%) 0.97 422
    2022-03-01 $383,128 (22.8%) $629,855 (25.7%) 0.96 437
    2022-04-01 $395,000 (23.3%) $639,894 (28.8%) 0.94 454
    2022-05-01 $394,473 (22.7%) $610,726 (18.2%) 0.90 604
    2022-06-01 $399,900 (24.0%) $607,542 (15.5%) 0.89 696
    2022-07-01 $404,731 (23.0%) $611,477 (16.9%) 0.91 834
    2022-08-01 $399,000 (21.1%) $589,575 (12.0%) 0.92 943
    2022-09-01 $399,898 (21.5%) $600,842 (11.7%) 0.93 955
    2022-10-01 $399,995 (17.7%) $606,075 (11.0%) 0.94 1,004
    2022-11-01 $399,700 (18.4%) $595,054 (9.6%) 0.96 1,047
    2022-12-01 $399,900 (14.6%) $595,214 (5.9%) 0.99 1,007
    2023-01-01 $399,718 (14.5%) $595,171 (3.1%) 0.99 900
    2023-02-01 $399,048 (7.2%) $613,068 (-0.7%) 0.96 757
    2023-03-01 $409,725 (6.9%) $626,766 (-0.5%) 0.97 758
    2023-04-01 $427,990 (8.4%) $664,959 (3.9%) 1.00 695
    Savannah's median listing price for 2023-04-01 was $427,990, a difference of $32,990 (8.4%) versus the prior year and $18,265 versus the prior month.

    Savannah's median listing price comes in at 100% of the national average.

    Savannah's average listing price for 2023-04-01 was $664,959, a difference of $25,065 (3.9%) versus the prior year and $38,193 versus the prior month.

    For the 2023-04-01 period, Savannah had 695 MLS listings, a difference of -63 listings (-8%) versus the prior month and 241 listings (53%) 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
    2018-01-01 100 days 2,173 sqft
    2018-02-01 93 days 2,201 sqft
    2018-03-01 71 days 2,248 sqft
    2018-04-01 71 days 2,264 sqft
    2018-05-01 72 days 2,238 sqft
    2018-06-01 75 days 2,223 sqft
    2018-07-01 79 days 2,226 sqft
    2018-08-01 84 days 2,192 sqft
    2018-09-01 86 days 2,210 sqft
    2018-10-01 85 days 2,200 sqft
    2018-11-01 84 days 2,201 sqft
    2018-12-01 89 days 2,202 sqft
    2019-01-01 96 days 2,200 sqft
    2019-02-01 100 days 2,211 sqft
    2019-03-01 90 days 2,239 sqft
    2019-04-01 72 days 2,269 sqft
    2019-05-01 71 days 2,279 sqft
    2019-06-01 73 days 2,294 sqft
    2019-07-01 74 days 2,293 sqft
    2019-08-01 86 days 2,319 sqft
    2019-09-01 94 days 2,363 sqft
    2019-10-01 85 days 2,286 sqft
    2019-11-01 89 days 2,273 sqft
    2019-12-01 95 days 2,244 sqft
    2020-01-01 102 days 2,247 sqft
    2020-02-01 96 days 2,250 sqft
    2020-03-01 78 days 2,293 sqft
    2020-04-01 81 days 2,291 sqft
    2020-05-01 85 days 2,300 sqft
    2020-06-01 87 days 2,295 sqft
    2020-07-01 79 days 2,349 sqft
    2020-08-01 71 days 2,312 sqft
    2020-09-01 71 days 2,271 sqft
    2020-10-01 72 days 2,203 sqft
    2020-11-01 70 days 2,147 sqft
    2020-12-01 74 days 2,104 sqft
    2021-01-01 80 days 2,097 sqft
    2021-02-01 65 days 2,055 sqft
    2021-03-01 47 days 2,036 sqft
    2021-04-01 45 days 2,053 sqft
    2021-05-01 36 days 2,100 sqft
    2021-06-01 39 days 2,034 sqft
    2021-07-01 37 days 2,092 sqft
    2021-08-01 42 days 1,997 sqft
    2021-09-01 45 days 2,011 sqft
    2021-10-01 51 days 2,034 sqft
    2021-11-01 56 days 2,044 sqft
    2021-12-01 59 days 2,055 sqft
    2022-01-01 62 days 2,041 sqft
    2022-02-01 31 days 2,079 sqft
    2022-03-01 28 days 2,109 sqft
    2022-04-01 27 days 2,156 sqft
    2022-05-01 20 days 2,123 sqft
    2022-06-01 26 days 2,215 sqft
    2022-07-01 31 days 2,160 sqft
    2022-08-01 38 days 2,155 sqft
    2022-09-01 44 days 2,148 sqft
    2022-10-01 49 days 2,118 sqft
    2022-11-01 50 days 2,152 sqft
    2022-12-01 59 days 2,117 sqft
    2023-01-01 69 days 2,122 sqft
    2023-02-01 64 days 2,113 sqft
    2023-03-01 47 days 2,175 sqft
    2023-04-01 44 days 2,239 sqft
    Savannah's median listing age (time on market) for 2023-04-01 was 44 days. This is 63% longer than the same period one year ago.

    Savannah's median square footage for active listings during the 2023-04-01 period was 2,239 sqft. One year prior, the average listing was 2,156 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.