Twin Falls VA Loans

TWIN FALLS, ID

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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 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.

    Twin Falls's 66 lenders originated 508 VA loans during 2021. The total origination value was $138,710,000, with an average VA loan value of $273,051.

    Twin Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Twin Falls averaged 5.41% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.24% and one month ago for the week of 2022-04-08, the average rate was 4.96%.

    The average rate one year ago was 2.88%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.41%.

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

    Twin Falls VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Twin Falls level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 49 2.39% $6,721
    GUILD MORTGAGE COMPANY 35 2.70% $7,389
    PREMIER MORTGAGE RESOURCES, L.L.C. 34 2.82% $11,975
    Mortgage Research Center, LLC 33 2.85% $7,302
    FREEDOM MORTGAGE CORPORATION 31 2.54% $2,851
    IDAHO CENTRAL 28 2.52% $6,615
    PENNYMAC LOAN SERVICES, LLC 25 2.44% $5,836
    MOVEMENT MORTGAGE, LLC 24 2.90% $4,661
    D. L. Evans Bank 18 2.37% $6,832
    NEW DAY FINANCIAL, LLC 16 2.90% $6,898
    LOANDEPOT.COM, LLC 14 2.69% $4,273
    First Federal Savings Bank of Twin Falls 13 2.56% $9,076
    UNITED WHOLESALE MORTGAGE, LLC 10 2.38% $7,236
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 3.31% $7,576
    NAVY FEDERAL CREDIT UNION 8 2.63% $8,802
    CALIBER HOME LOANS, INC. 6 2.50% $6,407
    The Federal Savings Bank 6 2.67% $10,578
    VILLAGE CAPITAL & INVESTMENT LLC 6 2.00% $3,732
    CLEARPATH LENDING 5 2.25% $3,322
    Bank of Idaho 5 2.80% $6,598
    Barrington Bank & Trust Company, N.A. 4 2.88% $4,916
    AMERICAN FINANCING CORPORATION 4 2.50% $3,074
    Low VA Rates, LLC 4 2.34% $3,350
    USAA Federal Savings Bank 4 2.78% $5,702
    AXIA FINANCIAL, LLC 4 2.75% $12,526
    Willamette Valley Bank 3 2.63% $1,070
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.00% $9,023
    HOME POINT FINANCIAL CORPORATION 3 2.29% $3,286
    LAKEVIEW LOAN SERVICING, LLC 3 2.54% $3,211
    LOANPAL, LLC 3 2.42% $7,147
    S1L, Inc. 3 2.42% $5,239
    Wells Fargo Bank 3 2.67% $3,819
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.63% $18,089
    NEWREZ LLC 2 2.63% $3,530
    North American Savings Bank, F.S.B. 2 2.31% $4,995
    Mr. Cooper ( Nationstar Mortgage ) 2 3.00% $1,684
    CROSSCOUNTRY MORTGAGE, LLC 2 2.56% $15,087
    PENTAGON FEDERAL CREDIT UNION 2 2.50% $3,129
    AMERISAVE MORTGAGE CORPORATION 2 2.44% $7,987
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.88% $5,539
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.25% $6,138
    CORNERSTONE HOME LENDING, INC. 2 3.50% $7,934
    KeyBank 2 2.75% $5,897
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.63% $8,963
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 2.63% $10,244
    PLANET HOME LENDING, LLC 1 2.25% $3,532
    Carrington Mortgage Services, LLC 1 3.75% $1,601
    AMCAP MORTGAGE, LTD. 1 2.50% $6,406
    SOUTHWEST STAGE FUNDING, LLC 1 2.88% $12,328
    SUMMIT FUNDING, INC. 1 3.25% $13,968
    BELEM SERVICING LLC 1 1.75% $7,227
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $14,071
    INTERCAP LENDING INC. 1 2.50% $3,047
    Gateway First Bank 1 3.00% $11,818
    U.S. Bank 1 2.50% $13,851
    AMERICAN FINANCIAL NETWORK, INC. 1 2.38% $20,422
    Flagstar Bank, FSB 1 3.13% $5,683
    Magnolia Bank 1 2.25% $10,038
    MANN FINANCIAL INC. 1 3.13% $24,627
    MASON MCDUFFIE MORTGAGE CORPORATION 1 2.38% $10,094
    Meridian Bank Corporation 1 2.25% $14,073
    First Guaranty Mortgage Corporation 1 2.75% $769
    FINANCE OF AMERICA MORTGAGE LLC 1 2.75% $7,270
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $2,126
    EMBRACE HOME LOANS, INC. 1 2.63% $2,377
    Eagle Bank and Trust Company 1 2.63% $12,083

    The top Twin Falls VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 49 VA loans originated. Their average total fees are $6,721, which is $668 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Twin Falls VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,851), LOANDEPOT.COM, LLC ($4,273), MOVEMENT MORTGAGE, LLC ($4,661), PENNYMAC LOAN SERVICES, LLC ($5,836) and IDAHO CENTRAL ($6,615).

    The lowest rate Twin Falls VA lenders (with over 10 loans originated) are D. L. Evans Bank (2.37%), UNITED WHOLESALE MORTGAGE, LLC (2.38%), QUICKEN LOANS, LLC (2.39%), PENNYMAC LOAN SERVICES, LLC (2.44%) and IDAHO CENTRAL (2.52%).

    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.