Shelbyville VA Loan Rates, Closing Costs & Stats

Shelbyville, TN

  • 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.

    Shelbyville's 44 lenders originated 133 VA loans during 2024. The total origination value was $46,215,000, with an average VA loan value of $347,481.

    Shelbyville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Shelbyville averaged 0.43% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Shelbyville's average VA mortgage closing costs are $6,545.

    The average rate for the prior week (2025-06-13) was 6.68% and one month ago for the week of 2025-05-16, the average rate was 6.74%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.17%.

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

    Shelbyville 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 Shelbyville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 18 6.12% $4,646
    FIRST COMMUNITY MORTGAGE, INC. 12 6.32% $7,744
    UNITED WHOLESALE MORTGAGE, LLC 12 5.74% $10,378
    CMG MORTGAGE, INC. 11 6.31% $9,076
    VILLAGE CAPITAL MORTGAGE 6 5.52% $6,449
    QUICKEN LOANS, LLC 6 6.06% $7,302
    FREEDOM MORTGAGE CORPORATION 6 6.04% $6,289
    PENNYMAC LOAN SERVICES, LLC 5 5.13% $12,311
    PLANET HOME LENDING, LLC 4 5.87% $6,347
    USAA Federal Savings Bank 3 6.13% $5,989
    LOANDEPOT.COM, LLC 3 6.41% $15,280
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.67% $5,255
    NEWREZ LLC 2 5.37% $6,743
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.94% $24,569
    ISERVE RESIDENTIAL LENDING, LLC 2 5.69% $4,808
    FirstBank 2 6.31% $7,083
    U.S. Bank 2 6.44% $17,135
    NEW DAY FINANCIAL, LLC 1 7.99% $13,349
    Regions Bank 1 6.13% $10,852
    RELIANCE FIRST CAPITAL, LLC 1 5.63% $14,207
    Renasant Bank 1 5.75% $8,092
    ROSS MORTGAGE CORPORATION 1 5.25% $3,920
    SeaTrust Mortgage Company 1 5.63% $3,590
    T2 FINANCIAL LLC 1 5.25% $18,619
    Texana Bank 1 5.75% $12,488
    ACOPIA, LLC 1 7.13% $5,157
    The First National Bank of Middle Tennessee 1 5.75% $1,480
    The Federal Savings Bank 1 7.00% $6,011
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $24,182
    Bank of Tennessee 1 6.50% $8,176
    Carrington Mortgage Services, LLC 1 7.13% $6,257
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $2,188
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $0
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $22,760
    FirstTrust Home Loans, Inc. 1 5.99% $22,393
    GENEVA FINANCIAL, LLC 1 6.63% $16,295
    GUARANTEED RATE, INC. 1 5.55% $3,288
    INTERLINC MORTGAGE SERVICES, LLC 1 6.88% $6,391
    LAND HOME FINANCIAL SERVICES, INC. 1 6.63% $5,035
    Magnolia Bank 1 6.75% $13,318
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,663
    Nations Lending Corporation 1 5.25% $8,025
    NAVY FEDERAL CREDIT UNION 1 5.25% $1,912
    NBKC BANK 1 6.00% $3,534

    The top Shelbyville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $4,646, which is $3,099 lower than the next largest lender, FIRST COMMUNITY MORTGAGE, INC..

    The lowest fee Shelbyville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,646), FIRST COMMUNITY MORTGAGE, INC. ($7,744), CMG MORTGAGE, INC. ($9,076), UNITED WHOLESALE MORTGAGE, LLC ($10,378) and .

    The lowest rate Shelbyville VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.74%), Mortgage Research Center, LLC (6.12%), CMG MORTGAGE, INC. (6.31%), FIRST COMMUNITY MORTGAGE, INC. (6.32%) and .

    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.