Virginia Beach VA Loans

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC

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.

Virginia Beach's 289 lenders originated 35,919 VA loans during 2021. The total origination value was $11,024,185,000, with an average VA loan value of $306,918.

Virginia Beach VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Virginia Beach averaged 5.22% 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 5.25% and one month ago for the week of 2022-04-08, the average rate was 4.78%.

The average rate one year ago was 3.09%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.9%.

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

Virginia Beach 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 Virginia Beach level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 3,057 2.82% $7,749
FREEDOM MORTGAGE CORPORATION 2,296 2.41% $3,139
OVM FINANCIAL, INC. 2,217 2.88% $8,458
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1,966 2.82% $8,750
NAVY FEDERAL CREDIT UNION 1,848 2.49% $6,179
PENNYMAC LOAN SERVICES, LLC 1,772 2.37% $5,928
QUICKEN LOANS, LLC 1,718 2.44% $4,956
CALIBER HOME LOANS, INC. 1,302 2.61% $7,707
MOVEMENT MORTGAGE, LLC 750 2.89% $6,685
TIDEWATER MORTGAGE SERVICES, INC. 722 2.76% $8,941
UNITED WHOLESALE MORTGAGE, LLC 705 2.50% $6,594
Towne Bank 592 2.73% $8,455
LOANDEPOT.COM, LLC 581 2.51% $4,678
SOUTHERN TRUST MORTGAGE, LLC 559 2.80% $10,098
Wells Fargo Bank 538 2.51% $4,539
LAKEVIEW LOAN SERVICING, LLC 528 2.48% $2,552
Mr. Cooper ( Nationstar Mortgage ) 399 2.78% $3,896
NVR Mortgage Finance, Inc. 398 2.85% $7,979
NEW DAY FINANCIAL, LLC 385 2.86% $8,717
USAA Federal Savings Bank 345 2.84% $5,466
CLEARPATH LENDING 338 2.32% $4,566
HOME POINT FINANCIAL CORPORATION 313 2.38% $4,872
Prosperity Home Mortgage, LLC 295 2.56% $8,543
CBM Mortgage, Inc. 273 2.91% $8,753
The Federal Savings Bank 272 2.58% $6,736
Towne Mortgage, LLC 268 2.66% $8,253
Advance Financial Group, LLC 254 2.76% $8,338
NewTowne Mortgage, LLC 227 2.67% $9,990
VILLAGE CAPITAL & INVESTMENT LLC 207 2.32% $4,035
AMERICAN FINANCIAL NETWORK, INC. 200 2.57% $9,208
Tidewater Home Funding, LLC 199 2.78% $6,809
Lakeview Community Capital, LLC 198 2.47% $2,431
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 194 3.19% $9,269
George Mason Mortgage, LLC 185 2.82% $9,094
Alcova Mortgage LLC 178 2.93% $7,663
PENTAGON FEDERAL CREDIT UNION 177 2.35% $3,715
NEWREZ LLC 161 2.59% $4,761
Blue Ridge Bank 161 2.70% $7,079
Carrington Mortgage Services, LLC 145 3.15% $5,010
Truist Bank 132 2.67% $4,725
PLANET HOME LENDING, LLC 130 2.69% $4,886
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 127 2.86% $8,301
HOMEBRIDGE FINANCIAL SERVICES, INC. 127 2.87% $8,275
Atlantic Coast Mortgage, LLC 117 2.95% $9,056
AMERISAVE MORTGAGE CORPORATION 117 2.60% $5,673
BROKER SOLUTIONS, INC. 114 2.74% $6,778
LOANPAL, LLC 109 2.53% $6,861
SUN WEST MORTGAGE COMPANY, INC. 109 2.71% $5,200
Low VA Rates, LLC 107 2.39% $4,754
C & F Mortgage Corporation 99 2.83% $8,099
ACCELERATE MORTGAGE, LLC 99 2.26% $5,944
MCLEAN MORTGAGE CORPORATION 93 2.65% $6,633
PRIMELENDING, A PLAINSCAPITAL COMPANY 90 2.90% $7,959
NBKC BANK 83 2.49% $5,394
NP, Inc. 83 2.34% $4,298
GoPrime Mortgage, Inc. 83 2.73% $8,901
North American Savings Bank, F.S.B. 81 2.40% $7,276
Mid-Continent Funding, Inc. 76 2.82% $6,960
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 73 2.94% $9,053
CAPITAL CENTER, L.L.C. 72 2.62% $3,518
CROSSCOUNTRY MORTGAGE, LLC 71 2.82% $8,424
Ameris Bank 71 2.69% $7,413
DRAGAS MORTGAGE COMPANY 70 2.81% $10,574
First Guaranty Mortgage Corporation 68 2.40% $4,237
Magnolia Bank 66 2.59% $6,735
HOMESPIRE MORTGAGE CORPORATION 63 2.99% $6,506
GUARANTEED RATE, INC. 61 2.56% $5,480
BNC National Bank 58 2.35% $4,738
Barrington Bank & Trust Company, N.A. 54 2.93% $5,775
NBH Bank 53 2.52% $9,940
MUTUAL OF OMAHA MORTGAGE, INC. 53 2.67% $5,528
Paramount Residential Mortgage Group, Inc. 51 3.25% $9,451
Nations Lending Corporation 51 2.73% $7,616
GUILD MORTGAGE COMPANY 49 2.56% $5,398
AMERICAN PACIFIC MORTGAGE CORPORATION 47 2.79% $10,316
CMG MORTGAGE, INC. 47 2.46% $8,328
Plains Commerce Bank 45 2.53% $8,708
EMM LOANS LLC 43 2.71% $9,026
Ixonia Bank 42 3.06% $8,100
Commerce Home Mortgage, Inc. 41 2.57% $3,779
NETWORK CAPITAL FUNDING CORPORATION 41 2.61% $2,919
JOHNSON MORTGAGE COMPANY, L.L.C. 40 2.62% $7,328
SOVEREIGN LENDING GROUP INCORPORATED 39 2.64% $4,553
TJC Mortgage, Inc. 37 2.26% $4,420
First Federal Bank 37 3.30% $8,302
Wyndham Capital Mortgage, Inc. 37 2.48% $6,008
CHURCHILL MORTGAGE CORPORATION 36 2.46% $6,696
Flagstar Bank, FSB 32 2.66% $5,730
EMBRACE HOME LOANS, INC. 32 2.69% $8,500
Fulton Bank 31 2.75% $7,893
PNC Bank 31 2.85% $4,175
LEADERONE FINANCIAL CORPORATION 30 2.85% $5,342
HOMESIDE FINANCIAL, LLC 29 2.60% $7,085
First Mortgage Solutions, LLC 29 2.31% $4,511
ARK-LA-TEX FINANCIAL SERVICES, LLC. 28 2.79% $8,771
First Heritage Mortgage, LLC 28 2.62% $9,365
LANGLEY 27 2.80% $5,083
Equity Prime Mortgage LLC 27 3.42% $5,553
Presidential Bank, FSB 25 2.41% $5,143
KS StateBank 25 2.44% $5,537
ISERVE RESIDENTIAL LENDING, LLC 24 3.11% $9,004
CONTOUR MORTGAGE CORPORATION 24 2.71% $6,285
Sierra Pacific Mortgage Company, Inc. 23 2.85% $9,231
NEWPORT NEWS SHIPBUILDING EMPLOYEES 22 2.52% $5,581
Dollar Bank, Federal Savings Bank 21 2.66% $6,843
Citizens Bank 20 2.66% $5,187
FIRST HOME MORTGAGE CORPORATION 19 2.89% $6,384
KELLER MORTGAGE, LLC 19 2.69% $10,005
NATIONS DIRECT MORTGAGE, LLC 19 3.38% $6,231
Strong Home Mortgage, LLC 17 2.41% $6,390
UNION HOME MORTGAGE CORP. 16 2.28% $6,692
Manufacturers and Traders Trust Company 15 2.66% $5,664
INTERCOASTAL MORTGAGE COMPANY 15 2.73% $10,592
Prime Choice Funding Inc. 14 2.43% $2,993
DRAPER AND KRAMER MORTGAGE CORP. 14 2.55% $5,999
EAGLE HOME MORTGAGE, LLC 13 2.93% $4,632
First Home Bank 13 2.60% $8,908
SUCCESS MORTGAGE PARTNERS, INC. 13 3.15% $9,018
U.S. Bank 13 2.63% $6,993
AmeriHome Mortgage Company, LLC 12 2.74% $2,349
UNIVERSAL MORTGAGE & FINANCE, INC. 12 3.24% $10,074
Mortgage Network, Inc. 12 2.73% $7,177
PHH Mortgage Corporation 11 2.89% $4,297
ROUNDPOINT MORTGAGE SERVICING CORPORATION 11 3.29% $8,515
West Town Bank & Trust 11 2.63% $9,548
ALLIED MORTGAGE GROUP, INC. 10 2.91% $11,038
Loan Simple, Inc. 10 3.48% $10,702
RELIANCE FIRST CAPITAL, LLC 10 2.90% $10,036
MID AMERICA MORTGAGE, INC. 9 2.78% $3,799
Meridian Bank Corporation 9 2.36% $5,495
DAS Acquisition Company, LLC 9 3.05% $7,785
FINANCE OF AMERICA MORTGAGE LLC 9 2.61% $5,063
NATIONS RELIABLE LENDING, LLC 9 3.49% $5,530
BAYSHORE MORTGAGE FUNDING, LLC 8 2.80% $7,697
AMERICAN FINANCING CORPORATION 8 2.47% $2,791
Capital Bank 8 2.44% $6,905
Fifth Third Bank 8 2.77% $5,250
MILEND, INC. 8 3.02% $10,641
INTERCAP LENDING INC. 7 2.80% $8,651
NFM, INC. 7 2.98% $7,092
Community First National Bank 7 2.57% $2,474
FIRST SAVINGS MORTGAGE CORPORATION 7 2.55% $3,920
LENDUS, LLC 7 2.80% $8,057
NATIONWIDE MORTGAGE BANKERS, INC. 7 3.00% $9,777
First Federal Bank of Kansas City 7 2.30% $3,318
CityWorth Mortgage LLC 7 2.46% $4,252
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 2.84% $10,926
GUARANTEED RATE AFFINITY, LLC 6 2.60% $10,078
First Midwest Bank 6 2.35% $1,925
Credence Funding Corporation 6 2.19% $3,329
Paramount Bank 6 2.71% $8,216
ABSOLUTE HOME MORTGAGE CORPORATION 6 2.44% $2,850
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 6 3.04% $9,318
1ST FINANCIAL, INC. 6 2.81% $7,208
Evolve Bank & Trust 5 3.60% $12,733
Hometown Lenders, Inc. 5 3.03% $19,105
First Savings Bank 5 2.55% $6,607
Sunflower Bank 5 2.43% $5,525
Atlantic Union Bank 5 2.80% $4,565
THRIVE MORTGAGE, LLC 5 2.83% $13,193
UNITED SECURITY FINANCIAL CORP 5 2.18% $4,328
HOMESTEAD FUNDING CORP. 5 2.35% $4,720
Northpointe Bank 5 2.28% $9,158
LIBERTY HOME MORTGAGE CORPORATION 5 2.65% $5,979
Christensen Financial, Inc. 5 3.05% $6,265
CELEBRITY HOME LOANS, LLC 5 2.37% $6,143
Keystone Funding, Inc. 4 2.91% $9,215
ENVOY MORTGAGE, LTD 4 3.41% $9,676
The Central Trust Bank 4 2.41% $8,095
Integrity Home Mortgage Corp 4 3.03% $7,229
Goldwater Bank, N.A. 4 2.34% $3,137
CORNERSTONE HOME LENDING, INC. 4 3.19% $8,839
ZILLOW HOME LOANS, LLC 4 3.00% $3,515
HomePromise Corporation 4 2.97% $11,292
Shamrock Home Loans, Inc. 4 3.28% $8,654
ACADEMY MORTGAGE CORPORATION 4 3.25% $13,027
PLAZA HOME MORTGAGE, INC. 4 2.56% $2,120
InterContinental Capital Group, Inc 4 2.28% $3,709
FirstBank 4 2.53% $6,395
Southern Bank and Trust Company 4 2.50% $5,242
Virginia Credit Union, Inc. 3 2.46% $7,413
FIDELITY DIRECT MORTGAGE, LLC 3 2.96% $13,168
Bank of England 3 2.63% $6,537
FBC MORTGAGE, LLC 3 2.29% $7,921
Texana Bank 3 2.42% $6,213
Vellum Mortgage, Inc. 3 2.63% $5,683
ANGEL OAK HOME LOANS LLC 3 2.88% $5,282
OCMBC, INC. 3 2.88% $14,387
First Option Mortgage, LLC 3 3.00% $3,143
JAMS-01, INC. 3 2.42% $5,512
MORTGAGEONE, INC. 3 2.58% $11,041
RESIDENTIAL MORTGAGE SERVICES, INC. 3 2.83% $8,622
HAMILTON HOME LOANS, INC. 3 2.87% $8,049
STEARNS LENDING, LLC 3 2.58% $7,460
HANCOCK MORTGAGE PARTNERS, LLC 2 3.25% $9,790
Bank of America 2 2.69% $4,300
SUMMIT FUNDING, INC. 2 2.62% $6,598
First National Bank 2 2.56% $4,192
SWBC MORTGAGE CORPORATION 2 3.31% $2,752
Cf Bank 2 2.25% $2,304
PREMIA MORTGAGE, LLC 2 2.63% $4,186
First Western Trust Bank 2 2.50% $5,469
BELEM SERVICING LLC 2 2.12% $5,370
Arvest Bank 2 2.50% $2,529
Armed Forces Bank 2 2.50% $8,030
APEX HOME LOANS, INC. 2 2.50% $4,714
TOWNE MORTGAGE COMPANY 2 2.63% $5,387
Tyndall Federal Credit Union 2 2.31% $5,807
American Security Mortgage Corp. 2 2.25% $3,483
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.06% $7,431
AMERICAN INTERNET MORTGAGE, INC. 2 2.38% $1,263
Alpha Mortgage Corporation 2 2.81% $8,529
US MORTGAGE CORPORATION 2 2.38% $2,664
U S WIDE FINANCIAL LLC 2 2.31% $8,135
IMPAC MORTGAGE CORP. 2 2.56% $1,053
Advisors Mortgage Group, L.L.C. 2 2.56% $6,993
FIRST STATE MORTGAGE SERVICES, LLC 2 2.88% $6,984
EVERETT FINANCIAL, INC. 2 3.06% $12,013
EQUITY RESOURCES, INC. 2 2.25% $8,985
Willamette Valley Bank 2 2.75% $7,299
Service Federal Credit Union 2 2.75% $3,992
INTELLILOAN, INC. 2 2.88% $1,820
ROYAL UNITED MORTGAGE LLC 2 2.94% $5,328
GENEVA FINANCIAL, LLC 2 2.63% $3,498
Gateway First Bank 2 2.81% $3,804
Florida Capital Bank 2 3.25% $4,036
JAMES B. NUTTER & COMPANY 2 2.50% $1,453
RESIDENTIAL BANCORP. 1 2.88% $2,050
Huntingdon Valley Bank 1 2.38% $4,838
HOMESTAR FINANCIAL CORPORATION 1 2.25% $8,773
INTERLINC MORTGAGE SERVICES, LLC 1 2.88% $4,979
Homesale Mortgage, LLC 1 2.75% $13,151
Home Loan Investment Bank, F.S.B. 1 2.25% $2,847
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.75% $2,830
KeyBank 1 2.75% $10,834
Guardian Savings Bank, A Federal Savings Bank 1 2.25% $4,826
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.25% $1,325
GMFS LLC 1 2.63% $6,389
MANN FINANCIAL INC. 1 2.75% $14,476
FLAT BRANCH MORTGAGE, INC. 1 3.50% $6,833
MASON MCDUFFIE MORTGAGE CORPORATION 1 2.63% $11,091
First United Bank and Trust Company 1 2.25% $4,523
MICHIGAN MUTUAL, INC. 1 3.25% $9
First State Bank of St. Charles, Missouri 1 2.50% $22,945
MID-ISLAND MORTGAGE CORP. 1 2.25% $9,667
MIDLAND MORTGAGE CORPORATION 1 2.25% $7,608
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.88% $0
First International Bank & Trust 1 2.75% $1,004
First Federal Bank 1 2.25% $2,628
FIRST COMMUNITY MORTGAGE, INC. 1 2.75% $17,318
First-Citizens Bank & Trust Company 1 2.75% $3,916
NEW FED MORTGAGE, CORP. 1 2.50% $2,445
Northwest Bank 1 3.13% $2,097
EagleBank 1 2.25% $3,375
DIRECT MORTGAGE LOANS, LLC 1 2.75% $20,132
Old National Bank 1 2.75% $3,056
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.63% $3,627
Colten Mortgage, LLC 1 4.25% $9,545
Pinnacle Bank 1 2.25% $13,929
Colonial Savings, F.A. 1 2.63% $2,274
Citibank 1 2.88% $5,294
CIS Financial Services, Inc. 1 2.38% $2,013
Chambers Bank 1 2.75% $10,668
RAPID MORTGAGE COMPANY 1 2.25% $5,466
Red River Bank 1 2.50% $11,101
Regions Bank 1 2.50% $15,998
Capital City Home Loans, LLC 1 3.00% $7,193
Renasant Bank 1 2.88% $2,938
Hometown Equity Mortgage, LLC 1 3.00% $5,637
RESIDENTIAL HOME FUNDING CORP. 1 2.50% $16,426
CANOPY MORTGAGE, LLC 1 2.25% $10,012
Sandy Spring Bank 1 2.63% $5,958
SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 1 2.50% $12,462
SOUTH CENTRAL BANK, INC. 1 2.25% $2,927
South State Bank 1 2.38% $4,510
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $0
BAY CAPITAL MORTGAGE CORPORATION 1 2.25% $5,932
Aurora Financial, LLC 1 2.63% $3,003
TD Bank 1 3.00% $1,471
The First National Bank of Middle Tennessee 1 2.75% $7,573
The Union Bank Company 1 2.63% $3,011
Atlantic Home Loans, Inc. 1 2.88% $7,776
Triumph Bank 1 2.25% $2,848
Amerifirst Financial, Inc. 1 2.25% $12,757
American Mortgage & Equity Consultants, Inc. 1 2.38% $3,982
VILLAGE BANK MORTGAGE CORPORATION 1 2.75% $2,294
Watermark Capital, Inc. 1 2.25% $2,248
WesBanco Bank, Inc. 1 2.38% $2,636
Academy Bank 1 2.38% $10,883

The top Virginia Beach VA lender as defined by loan originations is Mortgage Research Center, LLC, with 3,057 VA loans originated. Their average total fees are $7,749, which is $4,610 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Virginia Beach VA lenders (with over 10 loans originated) are AmeriHome Mortgage Company, LLC ($2,349), Lakeview Community Capital, LLC ($2,431), LAKEVIEW LOAN SERVICING, LLC ($2,552), NETWORK CAPITAL FUNDING CORPORATION ($2,919) and Prime Choice Funding Inc. ($2,993).

The lowest rate Virginia Beach VA lenders (with over 10 loans originated) are TJC Mortgage, Inc. (2.26%), ACCELERATE MORTGAGE, LLC (2.26%), UNION HOME MORTGAGE CORP. (2.28%), First Mortgage Solutions, LLC (2.31%) and CLEARPATH LENDING (2.32%).

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.