Twin Falls VA Loan Rates, Closing Costs & Stats

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 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.

Twin Falls's 37 lenders originated 141 VA loans during 2023. The total origination value was $46,145,000, with an average VA loan value of $327,270.

Twin Falls VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Twin Falls averaged 5.72% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

Twin Falls's average VA mortgage closing costs are $7,074.

The average rate for the prior week (2024-10-04) was 5.39% and one month ago for the week of 2024-09-06, the average rate was 5.78%.

The average rate one year ago was 6.95%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.14%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Twin Falls level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 18 6.42% $6,662
QUICKEN LOANS, LLC 14 6.10% $12,558
NFM, INC. 12 6.38% $12,185
CORNERSTONE HOME LENDING, INC. 10 6.15% $8,040
UNITED WHOLESALE MORTGAGE, LLC 7 6.04% $8,544
GUILD MORTGAGE COMPANY 6 6.79% $10,400
MOVEMENT MORTGAGE, LLC 5 7.03% $6,784
IDAHO CENTRAL 5 5.90% $6,407
First Federal Savings Bank of Twin Falls 4 6.81% $4,910
AXIA FINANCIAL, LLC 4 6.47% $10,989
FREEDOM MORTGAGE CORPORATION 4 6.63% $20,625
D. L. Evans Bank 4 6.75% $13,552
PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.75% $15,946
NAVY FEDERAL CREDIT UNION 3 5.58% $9,526
PENNYMAC LOAN SERVICES, LLC 3 5.75% $7,218
LOANDEPOT.COM, LLC 3 6.75% $9,605
AMERISAVE MORTGAGE CORPORATION 2 6.00% $14,265
S1L, Inc. 2 5.81% $10,735
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.56% $15,481
U.S. Bank 2 6.44% $8,610
VILLAGE CAPITAL MORTGAGE 1 6.25% $11,384
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.50% $11,085
Bank of Idaho 1 6.49% $4,710
CALIBER HOME LOANS, INC. 1 5.63% $17,211
Century Mortgage Company DBA Century Lending Company 1 6.63% $13,307
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $17,332
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $20,793
FIRST COLONY MORTGAGE CORPORATION 1 6.13% $9,555
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $20,084
NEW DAY FINANCIAL, LLC 1 8.25% $19,154
Old National Bank 1 5.99% $3,049
PIONEER 1 5.88% $8,952
PLAZA HOME MORTGAGE, INC. 1 5.99% $11,089
TJC Mortgage, Inc. 1 5.13% $12,189
USAA Federal Savings Bank 1 5.63% $7,829
VAN DYK MORTGAGE CORPORATION 1 5.63% $14,587
AmeriHome Mortgage Company, LLC 1 5.00% $225

The top Twin Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $6,662, which is $5,896 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Twin Falls VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,662), CORNERSTONE HOME LENDING, INC. ($8,040), NFM, INC. ($12,185), QUICKEN LOANS, LLC ($12,558) and .

The lowest rate Twin Falls VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.10%), CORNERSTONE HOME LENDING, INC. (6.15%), NFM, INC. (6.38%), Mortgage Research Center, LLC (6.42%) and .

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.