Springfield VA Loan Rates, Closing Costs & Stats

SPRINGFIELD, MO

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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.

    Springfield's 91 lenders originated 964 VA loans during 2024. The total origination value was $280,860,000, with an average VA loan value of $291,349.

    Springfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Springfield averaged 0.38% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Springfield's average VA mortgage closing costs are $4,967.

    The average rate for the prior week (2025-06-27) was 7.01% and one month ago for the week of 2025-05-30, the average rate was 7.14%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.14%.

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

    Springfield 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 Springfield level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 157 6.46% $5,165
    FLAT BRANCH MORTGAGE, INC. 65 6.54% $7,451
    QUICKEN LOANS, LLC 60 6.21% $10,109
    UNITED WHOLESALE MORTGAGE, LLC 60 6.04% $5,285
    PENNYMAC LOAN SERVICES, LLC 56 5.74% $6,563
    FREEDOM MORTGAGE CORPORATION 53 6.12% $5,514
    VILLAGE CAPITAL MORTGAGE 36 5.64% $6,143
    DAS Acquisition Company, LLC 26 6.70% $4,635
    NAVY FEDERAL CREDIT UNION 26 6.00% $3,682
    GERSHMAN INVESTMENT CORP. 22 6.86% $5,390
    USAA Federal Savings Bank 21 6.38% $5,603
    NEWREZ LLC 20 6.17% $6,474
    Great Southern Bank 19 6.24% $5,238
    Arvest Bank 16 6.17% $3,945
    NEW DAY FINANCIAL, LLC 15 7.44% $9,409
    MORTGAGE SOLUTIONS OF COLORADO, LLC 14 7.46% $1,614
    PLANET HOME LENDING, LLC 11 6.21% $2,328
    LOANDEPOT.COM, LLC 11 6.35% $9,395
    CROSSCOUNTRY MORTGAGE, LLC 10 6.53% $4,827
    The Federal Savings Bank 10 6.25% $13,049
    BROKER SOLUTIONS, INC. 10 7.06% $5,860
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.98% $5,066
    Plains Commerce Bank 9 6.49% $7,578
    BancorpSouth 9 6.22% $5,205
    The Central Trust Bank 9 6.67% $6,533
    Springfield First Community Bank 8 6.20% $11,571
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.20% $17,938
    Equity Prime Mortgage LLC 7 6.61% $7,151
    ASSEMBLIES OF GOD Credit Union 7 5.75% $4,070
    HOMESIDE FINANCIAL, LLC 7 6.48% $7,771
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.81% $7,588
    Mr. Cooper ( Nationstar Mortgage ) 6 6.19% $8,005
    Ameris Bank 5 6.25% $8,374
    GUILD MORTGAGE COMPANY 5 7.03% $4,058
    PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.68% $7,005
    First Federal Bank 4 5.91% $6,278
    LOANPAL, LLC 4 5.94% $12,306
    Flagstar Bank, FSB 3 6.29% $5,437
    Gateway First Bank 3 7.08% $3,966
    GUARANTEED RATE, INC. 3 6.36% $5,053
    Hawthorn Bank 3 5.71% $3,308
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.58% $1,344
    LAKEVIEW LOAN SERVICING, LLC 3 6.08% $4,399
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.17% $3,879
    Carrington Mortgage Services, LLC 3 5.75% $7,633
    Mid-Continent Funding, Inc. 3 6.04% $5,204
    NBKC BANK 3 5.71% $1,940
    Paramount Residential Mortgage Group, Inc. 3 6.33% $6,635
    Oakstar Bank 3 5.79% $6,428
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.56% $6,489
    Members Mortgage Services, L.L.C. 2 6.81% $7,678
    Armed Forces Bank 2 5.94% $4,789
    PENTAGON FEDERAL CREDIT UNION 2 6.13% $11,837
    SUN WEST MORTGAGE COMPANY, INC. 2 6.31% $1,955
    Simmons Bank 2 6.63% $3,739
    MOVEMENT MORTGAGE, LLC 2 6.19% $1,339
    CMG MORTGAGE, INC. 2 5.94% $7,742
    JPMorgan Chase Bank 2 6.69% $3,557
    ROYAL UNITED MORTGAGE LLC 2 6.94% $12,659
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.50% $9,787
    CANOPY MORTGAGE, LLC 2 6.19% $10,484
    EVERETT FINANCIAL, INC. 2 7.00% $3,749
    TOWNE MORTGAGE COMPANY 2 6.63% $10,349
    CARDINAL FINANCIAL 2 6.44% $5,043
    Waterstone Mortgage Corporation 1 6.75% $11,863
    AmeriHome Mortgage Company, LLC 1 6.99% $3,478
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $13,625
    Bank of England 1 6.00% $5,568
    Barrington Bank & Trust Company, N.A. 1 5.75% $2,365
    CALCON MUTUAL MORTGAGE LLC 1 6.75% $9,722
    Century Mortgage Company DBA Century Lending Company 1 5.75% $2,474
    Commerce Bank 1 7.13% $11,231
    ENDEAVOR CAPITAL, LLC. 1 6.99% $3,869
    FAMILY FINANCE MORTGAGE, LLC 1 5.74% $10,213
    First Community Bank 1 6.50% $6,882
    First Federal Bank 1 7.13% $8,134
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.75% $1,991
    LEADERONE FINANCIAL CORPORATION 1 7.75% $3,200
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $4,087
    Magnolia Bank 1 5.50% $15,554
    MEGASTAR FINANCIAL CORP. 1 6.13% $7,959
    MID AMERICA MORTGAGE, INC. 1 7.13% $3,023
    Old National Bank 1 5.50% $1,666
    ON Q FINANCIAL, INC. 1 5.75% $9,610
    PHH Mortgage Corporation 1 6.13% $4,845
    Regions Bank 1 6.25% $2,998
    Servion, Inc. 1 7.13% $5,342
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $4,589
    Texana Bank 1 5.25% $7,583
    UNION HOME MORTGAGE CORP. 1 6.63% $3,602
    U.S. Bank 1 7.25% $2,528

    The top Springfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 157 VA loans originated. Their average total fees are $5,165, which is $2,285 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Springfield VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($1,614), PLANET HOME LENDING, LLC ($2,328), NAVY FEDERAL CREDIT UNION ($3,682), Arvest Bank ($3,945) and DAS Acquisition Company, LLC ($4,635).

    The lowest rate Springfield VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (5.64%), PENNYMAC LOAN SERVICES, LLC (5.74%), NAVY FEDERAL CREDIT UNION (6.00%), UNITED WHOLESALE MORTGAGE, LLC (6.04%) and FREEDOM MORTGAGE CORPORATION (6.12%).

    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.