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.