Sebastian VA Loan Rates, Closing Costs & Stats

Sebastian-Vero Beach, FL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Sebastian's 67 lenders originated 256 VA loans during 2023. The total origination value was $93,320,000, with an average VA loan value of $364,531.

    Sebastian VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Sebastian averaged 6.57% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Sebastian's average VA mortgage closing costs are $6,466.

    The average rate for the prior week (2024-11-01) was 6.23% and one month ago for the week of 2024-10-04, the average rate was 5.55%.

    The average rate one year ago was 7.31%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.54%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Sebastian 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 Sebastian level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 39 6.51% $10,556
    UNITED WHOLESALE MORTGAGE, LLC 22 5.95% $8,593
    QUICKEN LOANS, LLC 19 6.26% $12,961
    BAYSHORE MORTGAGE FUNDING, LLC 11 6.52% $13,521
    NAVY FEDERAL CREDIT UNION 10 5.78% $8,367
    DHI MORTGAGE COMPANY, LTD. 10 5.25% $6,307
    NEW DAY FINANCIAL, LLC 10 7.54% $15,697
    CARDINAL FINANCIAL 9 6.38% $12,906
    FREEDOM MORTGAGE CORPORATION 8 6.44% $20,296
    USAA Federal Savings Bank 7 6.38% $9,945
    EVERETT FINANCIAL, INC. 5 6.58% $6,887
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.63% $9,715
    CALIBER HOME LOANS, INC. 4 5.88% $7,857
    MOVEMENT MORTGAGE, LLC 4 6.38% $5,387
    LOANDEPOT.COM, LLC 3 5.71% $12,213
    TOTAL MORTGAGE SERVICES, LLC 3 5.63% $13,875
    CROSSCOUNTRY MORTGAGE, LLC 3 6.21% $6,288
    EAGLE HOME MORTGAGE, LLC 3 6.08% $3,416
    NEWREZ LLC 3 6.25% $14,396
    ACADEMY MORTGAGE CORPORATION 2 7.00% $9,908
    AMERISAVE MORTGAGE CORPORATION 2 5.94% $17,949
    CMG MORTGAGE, INC. 2 5.88% $10,869
    FBC MORTGAGE, LLC 2 6.31% $7,049
    GUARANTEED RATE AFFINITY, LLC 2 7.00% $9,360
    GUARANTEED RATE, INC. 2 6.26% $6,368
    HOMESIDE FINANCIAL, LLC 2 6.25% $10,313
    LAKEVIEW LOAN SERVICING, LLC 2 5.75% $12,850
    Mid-Continent Funding, Inc. 2 6.31% $8,805
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $7,266
    Prosperity Home Mortgage, LLC 2 5.75% $27,648
    SWBC MORTGAGE CORPORATION 2 6.63% $13,358
    LEGEND LENDING CORPORATION 1 6.88% $19,089
    EMBRACE HOME LOANS, INC. 1 3.88% $17,634
    METROPLEX MORTGAGE SERVICES, INC. 1 6.63% $4,459
    MICHIGAN MUTUAL, INC. 1 7.13% $5,422
    MID AMERICA MORTGAGE, INC. 1 6.88% $30,059
    ACOPIA, LLC 1 6.25% $5,810
    Community First National Bank 1 5.75% $8,303
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.63% $0
    BROKER SOLUTIONS, INC. 1 5.75% $19,218
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $29,044
    BAY EQUITY LLC 1 6.75% $4,259
    BAY CAPITAL MORTGAGE CORPORATION 1 6.75% $13,206
    Barrington Bank & Trust Company, N.A. 1 5.75% $4,718
    NFM, INC. 1 6.63% $16,760
    NORTHPOINT MORTGAGE, INC. 1 5.75% $3,530
    NVR Mortgage Finance, Inc. 1 5.75% $7,401
    ON Q FINANCIAL, INC. 1 7.75% $2,381
    Paramount Residential Mortgage Group, Inc. 1 5.25% $6,381
    VILLAGE CAPITAL MORTGAGE 1 7.13% $12,622
    PENTAGON FEDERAL CREDIT UNION 1 5.38% $7,787
    PLAZA HOME MORTGAGE, INC. 1 6.25% $20,333
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $7,015
    WATSON MORTGAGE CORP. 1 7.13% $6,641
    PULTE MORTGAGE LLC 1 5.50% $3,885
    Bank of Springfield 1 6.63% $5,536
    RELIANCE FIRST CAPITAL, LLC 1 6.63% $15,777
    Service Federal Credit Union 1 5.75% $862
    Equity Prime Mortgage LLC 1 6.25% $9,253
    FAIR WAY LENDING LLC 1 7.25% $5,864
    South State Bank 1 5.99% $19,028
    EMM LOANS LLC 1 7.50% $13,975
    Wells Fargo Bank 1 6.38% $7,491
    The Federal Savings Bank 1 5.75% $28,731
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $4,841
    JPMorgan Chase Bank 1 5.75% $2,490
    American Mortgage & Equity Consultants, Inc. 1 6.75% $5,791

    The top Sebastian VA lender as defined by loan originations is Mortgage Research Center, LLC, with 39 VA loans originated. Their average total fees are $10,556, which is $1,963 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Sebastian VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,307), NAVY FEDERAL CREDIT UNION ($8,367), UNITED WHOLESALE MORTGAGE, LLC ($8,593), Mortgage Research Center, LLC ($10,556) and QUICKEN LOANS, LLC ($12,961).

    The lowest rate Sebastian VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.25%), NAVY FEDERAL CREDIT UNION (5.78%), UNITED WHOLESALE MORTGAGE, LLC (5.95%), QUICKEN LOANS, LLC (6.26%) and Mortgage Research Center, LLC (6.51%).

    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.