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.