Sebastian VA Loan Rates, Closing Costs & Stats
Sebastian-Vero Beach, FL
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
5.79%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Sebastian's average VA mortgage closing costs are $6,466.
The average rate for the prior week (2024-10-04) was
5.65% and
one month ago for the week of 2024-09-06, the
average rate was 5.95%.
The average rate one year ago was 7.51%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.05%.
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.