St. Louis VA Loan Rates, Closing Costs & Stats

ST. LOUIS, MO-IL

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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.

    St. Louis's 175 lenders originated 4,840 VA loans during 2022. The total origination value was $1,310,040,000, with an average VA loan value of $270,669.

    St. Louis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in St. Louis averaged 6.34% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    St. Louis's average VA mortgage closing costs are $4,874.

    The average rate for the prior week (2023-05-19) was 5.97% and one month ago for the week of 2023-04-21, the average rate was 6.19%.

    The average rate one year ago was 5.26%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.43%.

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

    St. Louis 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 St. Louis level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 994 5.06% $6,269
    UNITED WHOLESALE MORTGAGE, LLC 269 4.42% $7,149
    QUICKEN LOANS, LLC 245 4.31% $9,478
    NAVY FEDERAL CREDIT UNION 171 4.06% $5,519
    FREEDOM MORTGAGE CORPORATION 169 4.43% $9,871
    DAS Acquisition Company, LLC 163 5.14% $6,734
    USAA Federal Savings Bank 155 4.57% $6,918
    GUILD MORTGAGE COMPANY 149 5.04% $8,052
    PENNYMAC LOAN SERVICES, LLC 119 3.39% $6,556
    DELMAR FINANCIAL COMPANY 118 4.75% $7,606
    GUARANTEED RATE, INC. 117 4.74% $6,836
    Carrollton Bank 101 4.32% $6,181
    BROKER SOLUTIONS, INC. 96 4.93% $7,372
    NEW DAY FINANCIAL, LLC 87 5.24% $9,545
    GERSHMAN INVESTMENT CORP. 85 4.97% $6,803
    FLAT BRANCH MORTGAGE, INC. 83 4.84% $6,190
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 83 4.72% $6,639
    LOANDEPOT.COM, LLC 64 4.36% $8,632
    Mr. Cooper ( Nationstar Mortgage ) 62 4.76% $7,633
    NEWREZ LLC 60 4.31% $7,830
    ENDEAVOR CAPITAL, LLC. 53 5.06% $6,637
    GUARANTEED RATE AFFINITY, LLC 50 5.18% $6,529
    The Federal Savings Bank 48 4.34% $12,544
    CMG MORTGAGE, INC. 41 4.55% $6,785
    Stifel Bank and Trust 38 4.58% $6,807
    Barrington Bank & Trust Company, N.A. 33 4.87% $6,846
    VILLAGE CAPITAL MORTGAGE 33 3.78% $5,716
    Wells Fargo Bank 32 4.02% $5,737
    AMERISAVE MORTGAGE CORPORATION 29 4.22% $11,663
    LAKEVIEW LOAN SERVICING, LLC 29 3.91% $6,248
    CALIBER HOME LOANS, INC. 29 4.42% $7,584
    FAMILY FINANCE MORTGAGE, LLC 28 4.71% $8,075
    SCOTT CREDIT UNION 25 4.29% $4,047
    HOME POINT FINANCIAL CORPORATION 24 4.32% $6,928
    The Home Loan Expert LLC 24 4.27% $5,556
    Flagstar Bank, FSB 23 4.44% $7,319
    CROSSCOUNTRY MORTGAGE, LLC 23 5.35% $10,138
    Mid-Continent Funding, Inc. 22 5.14% $10,866
    MUTUAL OF OMAHA MORTGAGE, INC. 21 4.53% $9,460
    PENTAGON FEDERAL CREDIT UNION 20 3.84% $6,475
    Regions Bank 20 4.66% $5,813
    Paramount Bank 19 4.53% $6,154
    The Central Trust Bank 19 4.76% $8,448
    U.S. Bank 19 5.04% $8,050
    FCB Banks 18 4.01% $5,502
    FRONTIER FINANCIAL, INC. 17 4.34% $6,567
    Midwest BankCentre 16 4.55% $7,063
    First State Bank of St. Charles, Missouri 15 4.75% $6,755
    F&B Acquisition Group LLC 14 4.11% $8,814
    Magnolia Bank 14 4.68% $10,426
    NBKC BANK 14 4.57% $7,046
    CARDINAL FINANCIAL 13 4.36% $10,329
    Carrington Mortgage Services, LLC 12 4.92% $7,472
    D.W. BROWN MORTGAGE CORP. 12 4.63% $7,122
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 5.00% $8,085
    NP, Inc. 11 4.48% $6,476
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 11 4.82% $4,039
    AMERICAN HOME LENDING USA, LLC 10 4.58% $5,930
    Citizens Bank 10 4.29% $8,216
    PNC Bank 10 4.51% $3,646
    GENEVA FINANCIAL, LLC 9 5.72% $6,787
    PLANET HOME LENDING, LLC 8 4.62% $7,806
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 5.70% $10,643
    North American Savings Bank, F.S.B. 8 4.52% $6,828
    First Bank 8 4.78% $7,410
    PREMIA MORTGAGE, LLC 8 4.42% $5,341
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 5.03% $11,304
    Bank of America 8 4.11% $4,750
    Low VA Rates, LLC 7 4.57% $8,896
    Bank of Springfield 7 5.18% $7,359
    Town & Country Banc Mortgage Services, Inc. 7 4.64% $5,224
    HOMESIDE FINANCIAL, LLC 6 4.25% $10,229
    Armed Forces Bank 6 4.25% $7,604
    Bell Bank 6 5.33% $7,788
    COMMUNITY MORTGAGE, LLC 6 5.50% $7,576
    Equity Prime Mortgage LLC 6 4.06% $4,095
    JPMorgan Chase Bank 6 4.79% $5,681
    ON Q FINANCIAL, INC. 6 4.79% $6,537
    First Horizon Bank 5 3.93% $7,550
    Lakeview Community Capital, LLC 5 3.67% $5,028
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 4.93% $13,028
    Community First National Bank 5 4.13% $9,836
    Nations Lending Corporation 5 5.98% $6,942
    MOVEMENT MORTGAGE, LLC 5 4.65% $4,415
    UNION HOME MORTGAGE CORP. 4 5.22% $9,621
    FINANCE OF AMERICA MORTGAGE LLC 4 4.50% $9,894
    Busey Bank 4 4.31% $5,589
    BNC National Bank 4 4.44% $8,097
    Servion, Inc. 4 4.84% $7,485
    EVERETT FINANCIAL, INC. 4 5.78% $7,622
    HOMESTAR FINANCIAL CORPORATION 4 5.38% $6,546
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 4 5.50% $6,593
    Commerce Bank 4 4.50% $8,207
    LEADERONE FINANCIAL CORPORATION 4 4.78% $9,165
    PLAZA HOME MORTGAGE, INC. 3 5.58% $8,444
    First Guaranty Mortgage Corporation 3 3.58% $6,866
    HOMESITE MORTGAGE, LLC 3 5.08% $3,291
    M&T Bank 3 4.29% $5,396
    Arvest Bank 3 4.92% $6,468
    ALLTRU Federal Credit Union 3 5.29% $6,136
    Amerifirst Financial, Inc. 3 5.67% $6,124
    Truist 3 3.17% $1,325
    Peoples National Bank , N.A. 3 4.92% $3,139
    CHURCHILL MORTGAGE CORPORATION 3 4.42% $7,586
    AMERICAN FINANCING CORPORATION 3 5.88% $8,082
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 4.04% $5,444
    Northpointe Bank 3 4.83% $9,202
    LOANPAL, LLC 3 4.25% $7,936
    HANCOCK MORTGAGE PARTNERS, LLC 2 5.44% $3,293
    ROYAL UNITED MORTGAGE LLC 2 5.50% $12,868
    Members Mortgage Services, L.L.C. 2 4.88% $7,519
    Neighborhood Loans, Inc. 2 7.63% $6,419
    First Mortgage Solutions, LLC 2 3.56% $13,426
    PHH Mortgage Corporation 2 5.44% $6,814
    VICTORY MORTGAGE, L.L.C. 2 5.25% $8,256
    First Federal Bank 2 3.75% $13,542
    Bank of England 2 3.31% $2,235
    ACCESS CAPITAL FUNDING, L.L.C. 2 5.44% $6,470
    EMBRACE HOME LOANS, INC. 2 4.50% $9,355
    FIRST COMMUNITY MORTGAGE, INC. 2 5.19% $4,251
    KELLER MORTGAGE, LLC 2 4.06% $12,709
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.69% $12,529
    Texana Bank 2 3.75% $9,440
    Paramount Residential Mortgage Group, Inc. 2 4.69% $10,312
    Associated Bank 2 3.13% $3,376
    Service Federal Credit Union 2 3.69% $5,164
    Plains Commerce Bank 2 5.75% $7,567
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.75% $5,114
    GUARANTY HOME MORTGAGE CORPORATION 1 4.50% $11,478
    Hawthorn Bank 1 5.13% $3,633
    JLB CORPORATION 1 2.75% $13,095
    Lincoln FSB of Nebraska 1 3.25% $16,634
    Meridian Bank Corporation 1 5.25% $32,398
    MID AMERICA MORTGAGE, INC. 1 7.25% $14,501
    Fifth Third Bank 1 3.63% $6,913
    MIDLAND MORTGAGE CORPORATION 1 3.25% $6,435
    ENVOY MORTGAGE, LTD 1 5.63% $4,605
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $2,522
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 5.62% $12,158
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 5.50% $17,247
    Cornerstone First Mortgage, Inc 1 6.99% $10,779
    COMMUNITYAMERICA 1 2.88% $2,440
    Citizens National Bank of Greater St. Louis 1 5.25% $5,619
    Wilson & Muir Bank & Trust Company 1 4.88% $5,455
    OPEN MORTGAGE, LLC 1 5.13% $5,324
    PANORAMA MORTGAGE GROUP, LLC 1 6.63% $3,492
    Christensen Financial, Inc. 1 5.25% $14,798
    CHERRY CREEK MORTGAGE, LLC 1 2.38% $1,369
    CHARTER WEST BANK 1 5.75% $11,162
    Chambers Bank 1 5.75% $12,047
    Capital Bank 1 6.25% $1,495
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $4,521
    CALCON MUTUAL MORTGAGE LLC 1 5.50% $3,585
    Prosperity Home Mortgage, LLC 1 4.99% $8,536
    BAY EQUITY LLC 1 5.63% $7,376
    Simmons Bank 1 5.63% $8,592
    Strong Home Mortgage, LLC 1 4.50% $6,995
    SUMMIT FUNDING, INC. 1 5.38% $5,653
    Sunflower Bank 1 3.49% $20,834
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $13,459
    T2 FINANCIAL LLC 1 3.25% $0
    Bankers' Bank 1 4.50% $3,287
    The Huntington National Bank 1 4.88% $9,393
    TJC Mortgage, Inc. 1 3.25% $5,455
    TOP FLITE FINANCIAL, INC. 1 3.75% $17,326
    TOWNE MORTGAGE COMPANY 1 5.13% $9,382
    UMB Bank 1 4.38% $7,127
    United Community Bank 1 4.88% $2,736
    AMERICAN INTERNET MORTGAGE, INC. 1 5.00% $15,793
    U S WIDE FINANCIAL LLC 1 3.63% $12,599
    VERITAS FUNDING, LLC 1 4.63% $21,344
    AMERICAN ADVISORS GROUP 1 3.63% $10,466
    V.I.P. MORTGAGE, INC. 1 5.25% $9,550
    First Savings Bank 1 4.50% $36,794
    First National Bank 1 4.75% $14,842

    The top St. Louis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 994 VA loans originated. Their average total fees are $6,269, which is $879 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee St. Louis VA lenders (with over 10 loans originated) are PNC Bank ($3,646), AMERICAN PORTFOLIO MORTGAGE CORPORATION ($4,039), SCOTT CREDIT UNION ($4,047), FCB Banks ($5,502) and NAVY FEDERAL CREDIT UNION ($5,519).

    The lowest rate St. Louis VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.39%), VILLAGE CAPITAL MORTGAGE (3.78%), PENTAGON FEDERAL CREDIT UNION (3.84%), LAKEVIEW LOAN SERVICING, LLC (3.91%) and FCB Banks (4.01%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - St. Louis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $189,400 (12.0%) $269,594 (6.1%) 0.70 8,422
    2018-02-01 $193,450 (12.2%) $277,213 (5.8%) 0.70 8,301
    2018-03-01 $205,000 (11.0%) $291,265 (6.0%) 0.72 8,652
    2018-04-01 $214,875 (11.8%) $300,549 (6.1%) 0.73 8,742
    2018-05-01 $219,900 (9.3%) $306,148 (4.6%) 0.73 9,152
    2018-06-01 $219,900 (8.2%) $308,574 (5.3%) 0.73 9,728
    2018-07-01 $216,750 (8.4%) $303,344 (5.3%) 0.72 10,254
    2018-08-01 $216,000 (9.8%) $299,330 (6.6%) 0.72 10,480
    2018-09-01 $215,000 (9.8%) $297,128 (5.4%) 0.72 10,485
    2018-10-01 $212,725 (6.7%) $294,146 (3.5%) 0.72 10,575
    2018-11-01 $209,900 (8.1%) $289,262 (3.7%) 0.71 10,105
    2018-12-01 $200,000 (5.5%) $280,394 (3.4%) 0.69 9,044
    2019-01-01 $199,550 (5.4%) $275,229 (2.1%) 0.69 7,920
    2019-02-01 $210,000 (8.6%) $291,481 (5.2%) 0.71 7,560
    2019-03-01 $219,900 (7.3%) $297,263 (2.1%) 0.73 7,652
    2019-04-01 $225,000 (4.7%) $304,967 (1.5%) 0.71 7,973
    2019-05-01 $231,450 (5.3%) $313,299 (2.3%) 0.72 8,254
    2019-06-01 $234,900 (6.8%) $316,951 (2.7%) 0.73 8,574
    2019-07-01 $229,450 (5.9%) $313,324 (3.3%) 0.72 8,893
    2019-08-01 $229,900 (6.4%) $315,478 (5.4%) 0.72 8,858
    2019-09-01 $229,900 (6.9%) $317,200 (6.8%) 0.73 8,234
    2019-10-01 $220,000 (3.4%) $302,330 (2.8%) 0.71 9,194
    2019-11-01 $215,000 (2.4%) $299,910 (3.7%) 0.70 8,763
    2019-12-01 $210,200 (5.1%) $289,987 (3.4%) 0.70 7,794
    2020-01-01 $209,900 (5.2%) $287,622 (4.5%) 0.70 6,909
    2020-02-01 $218,900 (4.2%) $298,000 (2.2%) 0.72 6,367
    2020-03-01 $229,575 (4.4%) $305,672 (2.8%) 0.72 6,432
    2020-04-01 $231,500 (2.9%) $305,767 (0.3%) 0.73 6,463
    2020-05-01 $247,900 (7.1%) $320,854 (2.4%) 0.75 6,320
    2020-06-01 $249,900 (6.4%) $333,864 (5.3%) 0.74 6,016
    2020-07-01 $249,950 (8.9%) $336,803 (7.5%) 0.72 5,763
    2020-08-01 $249,900 (8.7%) $338,157 (7.2%) 0.72 5,621
    2020-09-01 $249,900 (8.7%) $339,370 (7.0%) 0.72 5,557
    2020-10-01 $243,400 (10.6%) $334,322 (10.6%) 0.70 5,659
    2020-11-01 $235,800 (9.7%) $328,448 (9.5%) 0.69 5,296
    2020-12-01 $230,150 (9.5%) $323,441 (11.5%) 0.68 4,753
    2021-01-01 $239,900 (14.3%) $337,023 (17.2%) 0.72 4,017
    2021-02-01 $249,900 (14.2%) $342,926 (15.1%) 0.73 3,540
    2021-03-01 $252,450 (10.0%) $345,425 (13.0%) 0.72 3,572
    2021-04-01 $258,600 (11.7%) $355,697 (16.3%) 0.70 3,564
    2021-05-01 $254,900 (2.8%) $357,526 (11.4%) 0.68 3,474
    2021-06-01 $255,800 (2.4%) $352,428 (5.6%) 0.67 3,848
    2021-07-01 $250,000 (0.0%) $346,893 (3.0%) 0.66 4,596
    2021-08-01 $249,900 (0.0%) $341,848 (1.1%) 0.67 4,766
    2021-09-01 $249,900 (0.0%) $338,695 (-0.2%) 0.67 4,700
    2021-10-01 $240,000 (-1.4%) $337,379 (0.9%) 0.64 4,539
    2021-11-01 $236,950 (0.5%) $336,776 (2.5%) 0.63 4,144
    2021-12-01 $239,950 (4.3%) $335,714 (3.8%) 0.65 3,462
    2022-01-01 $243,900 (1.7%) $336,432 (-0.2%) 0.66 3,009
    2022-02-01 $262,425 (5.0%) $343,890 (0.3%) 0.68 2,831
    2022-03-01 $270,100 (7.0%) $347,027 (0.5%) 0.68 2,914
    2022-04-01 $269,900 (4.4%) $337,084 (-5.2%) 0.64 3,112
    2022-05-01 $275,400 (8.0%) $347,316 (-2.9%) 0.63 3,650
    2022-06-01 $279,700 (9.3%) $352,883 (0.1%) 0.62 4,100
    2022-07-01 $275,000 (10.0%) $347,618 (0.2%) 0.62 4,648
    2022-08-01 $276,339 (10.6%) $346,192 (1.3%) 0.64 4,692
    2022-09-01 $274,972 (10.0%) $345,796 (2.1%) 0.64 4,696
    2022-10-01 $275,900 (15.0%) $340,580 (1.0%) 0.65 4,809
    2022-11-01 $274,000 (15.6%) $337,982 (0.4%) 0.66 4,783
    2022-12-01 $268,725 (12.0%) $329,575 (-1.8%) 0.66 4,223
    2023-01-01 $269,900 (10.7%) $333,821 (-0.8%) 0.67 3,782
    2023-02-01 $271,559 (3.5%) $337,055 (-2.0%) 0.66 3,499
    2023-03-01 $278,950 (3.3%) $343,394 (-1.1%) 0.66 3,477
    2023-04-01 $284,900 (5.6%) $355,297 (5.4%) 0.66 3,581
    St. Louis's median listing price for 2023-04-01 was $284,900, a difference of $15,000 (5.6%) versus the prior year and $5,950 versus the prior month.

    St. Louis's median listing price comes in at 66% of the national average.

    St. Louis's average listing price for 2023-04-01 was $355,297, a difference of $18,213 (5.4%) versus the prior year and $11,903 versus the prior month.

    For the 2023-04-01 period, St. Louis had 3,581 MLS listings, a difference of 104 listings (3%) versus the prior month and 469 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - St. Louis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 87 days 1,650 sqft
    2018-02-01 82 days 1,670 sqft
    2018-03-01 59 days 1,728 sqft
    2018-04-01 57 days 1,754 sqft
    2018-05-01 57 days 1,764 sqft
    2018-06-01 54 days 1,758 sqft
    2018-07-01 57 days 1,746 sqft
    2018-08-01 58 days 1,732 sqft
    2018-09-01 63 days 1,724 sqft
    2018-10-01 66 days 1,710 sqft
    2018-11-01 69 days 1,690 sqft
    2018-12-01 80 days 1,673 sqft
    2019-01-01 92 days 1,652 sqft
    2019-02-01 89 days 1,705 sqft
    2019-03-01 66 days 1,735 sqft
    2019-04-01 54 days 1,743 sqft
    2019-05-01 54 days 1,756 sqft
    2019-06-01 57 days 1,764 sqft
    2019-07-01 59 days 1,753 sqft
    2019-08-01 67 days 1,779 sqft
    2019-09-01 74 days 1,787 sqft
    2019-10-01 66 days 1,728 sqft
    2019-11-01 79 days 1,700 sqft
    2019-12-01 92 days 1,678 sqft
    2020-01-01 99 days 1,653 sqft
    2020-02-01 99 days 1,682 sqft
    2020-03-01 63 days 1,738 sqft
    2020-04-01 65 days 1,761 sqft
    2020-05-01 67 days 1,810 sqft
    2020-06-01 70 days 1,842 sqft
    2020-07-01 63 days 1,845 sqft
    2020-08-01 60 days 1,812 sqft
    2020-09-01 73 days 1,810 sqft
    2020-10-01 72 days 1,776 sqft
    2020-11-01 78 days 1,747 sqft
    2020-12-01 82 days 1,713 sqft
    2021-01-01 75 days 1,728 sqft
    2021-02-01 71 days 1,715 sqft
    2021-03-01 57 days 1,728 sqft
    2021-04-01 49 days 1,731 sqft
    2021-05-01 43 days 1,700 sqft
    2021-06-01 40 days 1,705 sqft
    2021-07-01 38 days 1,708 sqft
    2021-08-01 39 days 1,689 sqft
    2021-09-01 43 days 1,671 sqft
    2021-10-01 45 days 1,638 sqft
    2021-11-01 47 days 1,609 sqft
    2021-12-01 55 days 1,604 sqft
    2022-01-01 59 days 1,600 sqft
    2022-02-01 51 days 1,619 sqft
    2022-03-01 40 days 1,656 sqft
    2022-04-01 36 days 1,651 sqft
    2022-05-01 33 days 1,667 sqft
    2022-06-01 35 days 1,695 sqft
    2022-07-01 37 days 1,680 sqft
    2022-08-01 41 days 1,680 sqft
    2022-09-01 45 days 1,680 sqft
    2022-10-01 44 days 1,680 sqft
    2022-11-01 44 days 1,677 sqft
    2022-12-01 55 days 1,659 sqft
    2023-01-01 66 days 1,653 sqft
    2023-02-01 67 days 1,652 sqft
    2023-03-01 51 days 1,659 sqft
    2023-04-01 43 days 1,700 sqft
    St. Louis's median listing age (time on market) for 2023-04-01 was 43 days. This is 19% longer than the same period one year ago.

    St. Louis's median square footage for active listings during the 2023-04-01 period was 1,700 sqft. One year prior, the average listing was 1,651 sqft.

    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.