Sevierville VA Loan Rates, Closing Costs & Stats

Sevierville, TN

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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.

    Sevierville's 41 lenders originated 116 VA loans during 2023. The total origination value was $41,650,000, with an average VA loan value of $359,052.

    Sevierville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Sevierville averaged 6.99% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Sevierville's average VA mortgage closing costs are $5,996.

    The average rate for the prior week (2024-07-12) was 6.83% and one month ago for the week of 2024-06-14, the average rate was 6.79%.

    The average rate one year ago was 7.27%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.61%.

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

    Sevierville 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 Sevierville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.83% $10,932
    QUICKEN LOANS, LLC 6 6.31% $9,225
    MOVEMENT MORTGAGE, LLC 6 6.21% $5,556
    UNITED WHOLESALE MORTGAGE, LLC 6 6.29% $14,394
    FREEDOM MORTGAGE CORPORATION 5 6.68% $17,445
    The Federal Savings Bank 5 6.23% $14,845
    NAVY FEDERAL CREDIT UNION 4 6.00% $5,803
    CROSSCOUNTRY MORTGAGE, LLC 4 6.23% $14,626
    CMG MORTGAGE, INC. 4 6.88% $8,265
    FIRST COMMUNITY MORTGAGE, INC. 3 5.83% $7,824
    NEW DAY FINANCIAL, LLC 3 7.63% $15,137
    USAA Federal Savings Bank 2 6.44% $23,065
    Mid-Continent Funding, Inc. 2 6.68% $8,524
    Magnolia Bank 2 6.44% $21,964
    MORTGAGE INVESTORS GROUP, INC. 2 5.94% $4,331
    Sierra Pacific Mortgage Company, Inc. 2 6.38% $16,619
    STOCKTON MORTGAGE CORPORATION 2 6.75% $10,292
    UNION HOME MORTGAGE CORP. 2 7.63% $9,766
    Pinnacle Bank 1 6.00% $20,334
    RELIANCE FIRST CAPITAL, LLC 1 7.75% $4,363
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $3,106
    Truist 1 5.50% $3,266
    Waterstone Mortgage Corporation 1 5.63% $8,550
    Nations Lending Corporation 1 6.50% $2,776
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $19,931
    BROKER SOLUTIONS, INC. 1 6.25% $5,400
    Century Mortgage Company DBA Century Lending Company 1 6.75% $13,870
    CONTOUR MORTGAGE CORPORATION 1 5.75% $49,788
    Equity Prime Mortgage LLC 1 7.25% $11,304
    FirstBank 1 6.13% $19,452
    GUILD MORTGAGE COMPANY 1 7.13% $7,288
    GVC MORTGAGE, INC. 1 5.75% $14,446
    INTERCOASTAL MORTGAGE COMPANY 1 5.88% $7,179
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $20,851
    LEADERONE FINANCIAL CORPORATION 1 7.25% $8,926
    LOANDEPOT.COM, LLC 1 6.25% $25,775
    MORTGAGEONE, INC. 1 6.63% $80
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $49,788
    NATIONS DIRECT MORTGAGE, LLC 1 6.63% $21,798
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $9,076
    NEWREZ LLC 1 6.75% $18,743

    The top Sevierville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $10,932, which is $1,708 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sevierville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($10,932), .

    The lowest rate Sevierville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.83%), .

    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.