Twin Falls VA Loans

TWIN FALLS, ID

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.