Twin Falls VA Loan Rates, Closing Costs & Stats

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 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 6.47% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.11% and one month ago for the week of 2024-06-14, the average rate was 6.17%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.69%.

    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.