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 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 6.28% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

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

The average rate for the prior week (2024-02-09) was 6.14% and one month ago for the week of 2024-01-12, the average rate was 5.8%.

The average rate one year ago was 5.47%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.27%.

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%) $387,796 (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
Savannah's median listing price for 2023-12-01 was $420,700, a difference of $20,800 (5.2%) versus the prior year and $3,700 versus the prior month.

Savannah's median listing price comes in at 103% of the national average.

Savannah's average listing price for 2023-12-01 was $796,283, a difference of $201,171 (33.8%) versus the prior year and $-13,050 versus the prior month.

For the 2023-12-01 period, Savannah had 1,027 MLS listings, a difference of -28 listings (-3%) versus the prior month and 21 listings (2%) 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 2,239 sqft
2019-04-01 65 days 2,264 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
Savannah's median listing age (time on market) for 2023-12-01 was 55 days. This is -5% shorter than the same period one year ago.

Savannah's median square footage for active listings during the 2023-12-01 period was 2,007 sqft. One year prior, the average listing was 2,126 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.