Talladega VA Loan Rates, Closing Costs & Stats

Talladega-Sylacauga, AL

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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.

    Talladega's 37 lenders originated 99 VA loans during 2023. The total origination value was $24,625,000, with an average VA loan value of $248,737.

    Talladega VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Talladega averaged 6.79% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Talladega's average VA mortgage closing costs are $4,950.

    The average rate for the prior week (2024-11-01) was 6.35% and one month ago for the week of 2024-10-04, the average rate was 5.88%.

    The average rate one year ago was 7.33%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Talladega 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 Talladega level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 11 6.41% $5,109
    UNITED WHOLESALE MORTGAGE, LLC 8 6.39% $5,416
    PENNYMAC LOAN SERVICES, LLC 6 5.19% $5,839
    MOVEMENT MORTGAGE, LLC 6 6.69% $5,117
    NEW DAY FINANCIAL, LLC 5 7.45% $7,548
    CORNERSTONE HOME LENDING, INC. 5 6.50% $2,494
    QUICKEN LOANS, LLC 5 6.28% $9,496
    GUILD MORTGAGE COMPANY 4 6.78% $12,077
    FREEDOM MORTGAGE CORPORATION 4 6.91% $14,500
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.38% $8,889
    SouthPoint Bank 3 7.08% $8,298
    Ameris Bank 3 6.88% $2,567
    FIRST COMMUNITY MORTGAGE, INC. 2 5.44% $6,875
    VILLAGE CAPITAL MORTGAGE 2 5.75% $1,544
    HOMESTAR FINANCIAL CORPORATION 2 6.94% $2,418
    NAVY FEDERAL CREDIT UNION 2 5.81% $8,173
    Renasant Bank 2 5.88% $6,338
    Synovus Bank 1 6.75% $2,919
    The Federal Savings Bank 1 6.75% $7,758
    USAA Federal Savings Bank 1 6.63% $3,515
    LOANDEPOT.COM, LLC 1 6.50% $13,371
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $5,859
    Barrington Bank & Trust Company, N.A. 1 6.25% $4,726
    BROKER SOLUTIONS, INC. 1 6.75% $10,951
    CANOPY MORTGAGE, LLC 1 6.75% $13,909
    DAS Acquisition Company, LLC 1 5.75% $5,839
    FBC MORTGAGE, LLC 1 5.75% $17,751
    First Horizon Bank 1 6.63% $3,399
    HUNT MORTGAGE CORPORATION 1 7.25% $1,284
    Ixonia Bank 1 7.25% $2,378
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $7,188
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $3,903
    MILEND, INC. 1 6.75% $15,420
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.00% $435
    Plains Commerce Bank 1 6.00% $8,618
    Regions Bank 1 7.13% $2,855
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.25% $8,649

    The top Talladega VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $5,109, which is $307 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Talladega VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,109), .

    The lowest rate Talladega VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.41%), .

    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.