State College VA Loan Rates, Closing Costs & Stats

STATE COLLEGE, PA

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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.

    State College's 32 lenders originated 85 VA loans during 2024. The total origination value was $29,995,000, with an average VA loan value of $352,882.

    State College VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in State College averaged 0.47% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    State College's average VA mortgage closing costs are $7,270.

    The average rate for the prior week (2025-06-13) was 6.72% and one month ago for the week of 2025-05-16, the average rate was 6.98%.

    The average rate one year ago was 6.68%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.76%.

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

    State College 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 State College level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 15 5.99% $8,031
    Mortgage Research Center, LLC 15 6.47% $4,732
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.18% $6,994
    NAVY FEDERAL CREDIT UNION 5 5.88% $9,631
    PENNYMAC LOAN SERVICES, LLC 5 5.77% $5,304
    QUICKEN LOANS, LLC 4 6.40% $8,412
    Univest Bank and Trust Co. 2 6.63% $14,049
    CMG MORTGAGE, INC. 2 5.88% $16,250
    Citizens Bank 2 6.19% $12,843
    Flagstar Bank, FSB 2 6.50% $7,209
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $3,400
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $53,197
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $3,066
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $36,760
    NATIONS DIRECT MORTGAGE, LLC 1 6.25% $13,710
    NBKC BANK 1 5.49% $21,389
    NEW DAY FINANCIAL, LLC 1 7.75% $9,392
    Northwest Bank 1 6.38% $9,237
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $5,194
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $23,295
    Strong Home Mortgage, LLC 1 5.63% $6,427
    The Federal Savings Bank 1 6.75% $9,163
    MOVEMENT MORTGAGE, LLC 1 5.50% $24,167
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $11,351
    Equity Prime Mortgage LLC 1 7.25% $15,605
    FIRST COLONY MORTGAGE CORPORATION 1 4.75% $10,151
    FREEDOM MORTGAGE CORPORATION 1 6.25% $13,102
    LAKEVIEW LOAN SERVICING, LLC 1 5.25% $7,482
    LOANDEPOT.COM, LLC 1 7.25% $12,763
    Magnolia Bank 1 5.63% $30,675
    MICHIGAN MUTUAL, INC. 1 6.13% $3,249
    Mid-Continent Funding, Inc. 1 5.75% $16,604

    The top State College VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 15 VA loans originated. Their average total fees are $8,031, which is $3,299 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee State College VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,732), UNITED WHOLESALE MORTGAGE, LLC ($8,031), .

    The lowest rate State College VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.99%), Mortgage Research Center, LLC (6.47%), .

    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.