The Villages VA Loan Rates, Closing Costs & Stats

THE VILLAGES, FL

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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.

    The Villages's 60 lenders originated 227 VA loans during 2023. The total origination value was $78,255,000, with an average VA loan value of $344,736.

    The Villages VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in The Villages averaged 6.39% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    The Villages's average VA mortgage closing costs are $6,382.

    The average rate for the prior week (2024-07-12) was 6.73% and one month ago for the week of 2024-06-14, the average rate was 6.59%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.1%.

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

    The Villages 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 The Villages level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 40 6.55% $10,498
    QUICKEN LOANS, LLC 17 6.07% $10,224
    UNITED WHOLESALE MORTGAGE, LLC 15 6.13% $11,509
    DHI MORTGAGE COMPANY, LTD. 13 5.25% $4,630
    CRESCENT MORTGAGE COMPANY 11 6.67% $4,460
    NAVY FEDERAL CREDIT UNION 11 5.97% $4,699
    NEW DAY FINANCIAL, LLC 10 7.27% $14,805
    USAA Federal Savings Bank 9 6.24% $8,763
    FREEDOM MORTGAGE CORPORATION 7 6.30% $15,207
    INSPIRE HOME LOANS INC. 4 5.66% $10,092
    LOANDEPOT.COM, LLC 3 6.12% $19,569
    PENTAGON FEDERAL CREDIT UNION 3 5.08% $18,919
    FBC MORTGAGE, LLC 3 6.50% $8,213
    MOVEMENT MORTGAGE, LLC 3 6.67% $7,674
    PENNYMAC LOAN SERVICES, LLC 3 6.25% $18,307
    Flagstar Bank, FSB 2 6.50% $4,498
    Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $18,387
    NBKC BANK 2 5.63% $7,340
    NEWREZ LLC 2 7.25% $7,013
    Plains Commerce Bank 2 6.00% $17,364
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.00% $8,580
    Ameris Bank 2 6.44% $5,207
    GUARANTEED RATE, INC. 2 6.44% $7,850
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.88% $3,357
    CALIBER HOME LOANS, INC. 2 5.75% $3,997
    The Federal Savings Bank 2 6.13% $22,548
    Truist 2 6.19% $7,348
    Mid-Continent Funding, Inc. 2 6.31% $11,248
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $15,768
    Wells Fargo Bank 1 6.13% $1,890
    ACADEMY MORTGAGE CORPORATION 1 6.75% $6,061
    Willamette Valley Bank 1 6.25% $10,368
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $23,775
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $6,357
    BAY EQUITY LLC 1 6.75% $6,172
    Century Mortgage Company DBA Century Lending Company 1 5.88% $13,566
    Citizens Bank 1 6.38% $12,515
    Equity Prime Mortgage LLC 1 8.25% $6,362
    EVERETT FINANCIAL, INC. 1 6.13% $4,055
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.63% $18,037
    First Federal Bank 1 6.25% $4,450
    Franklin Loan Corporation 1 7.25% $17,208
    GUARANTEED RATE AFFINITY, LLC 1 5.68% $8,769
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.50% $4,103
    HOMESTAR FINANCIAL CORPORATION 1 6.13% $5,586
    MORTGAGE FINANCIAL GROUP, INC. 1 6.25% $9,341
    Mortgage Lenders Investment Trading Corporation 1 7.25% $12,063
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $10,296
    NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $10,144
    ON Q FINANCIAL, INC. 1 7.25% $4,863
    PREFERRED LENDING SERVICES, LLC 1 7.25% $6,802
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $10,453
    ROSS MORTGAGE CORPORATION 1 6.88% $6,883
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.75% $21,807
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $12,877
    SUN WEST MORTGAGE COMPANY, INC. 1 5.12% $15,747
    THE MORTGAGE FIRM, INC. 1 6.38% $8,673
    Towne Bank 1 5.75% $7,276
    UNION HOME MORTGAGE CORP. 1 7.13% $11,470
    VILLAGE CAPITAL MORTGAGE 1 5.75% $6,245

    The top The Villages VA lender as defined by loan originations is Mortgage Research Center, LLC, with 40 VA loans originated. Their average total fees are $10,498, which is $274 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee The Villages VA lenders (with over 10 loans originated) are CRESCENT MORTGAGE COMPANY ($4,460), DHI MORTGAGE COMPANY, LTD. ($4,630), NAVY FEDERAL CREDIT UNION ($4,699), QUICKEN LOANS, LLC ($10,224) and Mortgage Research Center, LLC ($10,498).

    The lowest rate The Villages VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.25%), NAVY FEDERAL CREDIT UNION (5.97%), QUICKEN LOANS, LLC (6.07%), UNITED WHOLESALE MORTGAGE, LLC (6.13%) and Mortgage Research Center, LLC (6.55%).

    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.