Virginia Beach VA Loan Rates, Closing Costs & Stats

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC

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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.

    Virginia Beach's 216 lenders originated 11,390 VA loans during 2023. The total origination value was $4,097,990,000, with an average VA loan value of $359,788.

    Virginia Beach VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Virginia Beach averaged 6.62% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Virginia Beach's average VA mortgage closing costs are $7,058.

    The average rate for the prior week (2024-11-01) was 6.48% and one month ago for the week of 2024-10-04, the average rate was 5.8%.

    The average rate one year ago was 7.16%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.35%.

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

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 1,595 6.60% $8,517
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 896 6.56% $10,288
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 852 6.36% $10,922
    UNITED WHOLESALE MORTGAGE, LLC 714 6.22% $9,988
    NAVY FEDERAL CREDIT UNION 675 5.87% $8,027
    MOVEMENT MORTGAGE, LLC 522 6.25% $10,700
    QUICKEN LOANS, LLC 387 6.14% $13,190
    NVR Mortgage Finance, Inc. 318 5.53% $9,268
    CBM Mortgage, Inc. 273 6.30% $12,053
    SOUTHERN TRUST MORTGAGE, LLC 266 6.44% $12,965
    PENNYMAC LOAN SERVICES, LLC 232 5.55% $8,876
    TIDEWATER MORTGAGE SERVICES, INC. 225 6.48% $12,506
    FREEDOM MORTGAGE CORPORATION 221 6.46% $15,199
    NEWREZ LLC 154 6.60% $11,015
    LOANDEPOT.COM, LLC 149 6.10% $13,241
    CALIBER HOME LOANS, INC. 149 5.92% $11,680
    Prosperity Home Mortgage, LLC 140 5.98% $10,349
    Advance Financial Group, LLC 137 6.34% $13,405
    Atlantic Coast Mortgage, LLC 129 6.36% $11,583
    Towne Mortgage, LLC 128 6.47% $14,499
    Towne Bank 121 6.38% $12,371
    CMG MORTGAGE, INC. 106 6.18% $10,794
    USAA Federal Savings Bank 104 6.14% $11,220
    The Federal Savings Bank 85 6.20% $16,621
    CARDINAL FINANCIAL 70 6.65% $14,527
    Alcova Mortgage LLC 68 6.71% $10,451
    NEW DAY FINANCIAL, LLC 67 7.51% $13,578
    EMM LOANS LLC 65 6.29% $11,313
    AMERICAN FINANCIAL NETWORK, INC. 64 6.62% $10,398
    CROSSCOUNTRY MORTGAGE, LLC 64 6.77% $10,352
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 63 6.43% $8,992
    BROKER SOLUTIONS, INC. 58 6.52% $12,272
    VILLAGE CAPITAL MORTGAGE 56 6.26% $9,431
    PENTAGON FEDERAL CREDIT UNION 55 5.80% $10,515
    Plains Commerce Bank 55 6.22% $14,071
    PRIMELENDING, A PLAINSCAPITAL COMPANY 52 6.57% $10,625
    Tidewater Home Funding, LLC 52 6.24% $23,464
    DHI MORTGAGE COMPANY, LTD. 51 5.30% $11,566
    GUARANTEED RATE, INC. 51 6.12% $10,382
    HOMESPIRE MORTGAGE CORPORATION 50 6.71% $7,851
    Mr. Cooper ( Nationstar Mortgage ) 48 6.03% $19,054
    FIRST COMMUNITY MORTGAGE, INC. 41 7.03% $11,471
    C & F Mortgage Corporation 37 6.69% $13,261
    NBKC BANK 36 5.76% $9,890
    Armed Forces Bank 36 6.35% $10,124
    NewTowne Mortgage, LLC 35 5.90% $15,526
    DRAGAS MORTGAGE COMPANY 31 6.36% $7,523
    Barrington Bank & Trust Company, N.A. 30 6.45% $8,017
    GUILD MORTGAGE COMPANY 30 6.30% $12,462
    Presidential Bank, FSB 30 6.63% $8,634
    Wells Fargo Bank 30 5.94% $7,754
    AMERISAVE MORTGAGE CORPORATION 30 5.88% $16,077
    Ameris Bank 29 6.32% $12,520
    Equity Prime Mortgage LLC 28 6.93% $9,470
    HOMESIDE FINANCIAL, LLC 28 6.60% $11,876
    North American Savings Bank, F.S.B. 25 5.76% $11,146
    CAPITAL CENTER, L.L.C. 25 6.41% $8,240
    MUTUAL OF OMAHA MORTGAGE, INC. 24 6.42% $15,627
    LOANPAL, LLC 23 5.87% $14,852
    NFM, INC. 23 6.74% $12,509
    Magnolia Bank 23 6.32% $17,901
    GoPrime Mortgage, Inc. 23 5.96% $13,459
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 22 6.52% $12,193
    PLANET HOME LENDING, LLC 21 5.88% $8,298
    Paramount Residential Mortgage Group, Inc. 21 5.93% $11,928
    Mid-Continent Funding, Inc. 18 6.46% $9,119
    AMERICAN PACIFIC MORTGAGE CORPORATION 18 6.28% $16,345
    Truist 17 6.16% $9,753
    Sierra Pacific Mortgage Company, Inc. 17 6.24% $10,958
    U.S. Bank 17 5.71% $14,419
    Blue Ridge Bank 17 6.56% $10,368
    EAGLE HOME MORTGAGE, LLC 16 6.53% $7,785
    Fulton Bank 16 6.15% $9,792
    Flagstar Bank, FSB 14 6.45% $10,526
    BAY EQUITY LLC 14 6.32% $9,859
    SUN WEST MORTGAGE COMPANY, INC. 13 6.37% $8,911
    UNION HOME MORTGAGE CORP. 12 7.19% $13,128
    LAKEVIEW LOAN SERVICING, LLC 12 5.97% $14,391
    Dollar Bank, Federal Savings Bank 12 6.35% $12,437
    ISERVE RESIDENTIAL LENDING, LLC 12 6.89% $14,569
    Keystone Funding, Inc. 11 5.99% $11,774
    CHURCHILL MORTGAGE CORPORATION 11 6.60% $14,205
    CITY FIRST MORTGAGE SERVICES, L.L.C. 10 6.84% $14,372
    FIDELITY DIRECT MORTGAGE, LLC 10 6.90% $8,821
    SeaTrust Mortgage Company 10 6.50% $11,045
    BNC National Bank 10 5.55% $10,501
    MORIA DEVELOPMENT, INC. 9 6.68% $9,054
    MILEND, INC. 8 6.89% $13,982
    INTERCAP LENDING INC. 8 6.73% $11,010
    RELIANCE FIRST CAPITAL, LLC 8 6.59% $9,365
    Lakeview Community Capital, LLC 7 6.21% $8,912
    FIRST HOME MORTGAGE CORPORATION 7 6.20% $8,808
    George Mason Mortgage, LLC 7 6.46% $11,048
    LANGLEY 7 6.80% $4,393
    NATIONS DIRECT MORTGAGE, LLC 6 6.88% $9,632
    SWBC MORTGAGE CORPORATION 6 6.21% $19,186
    CONTOUR MORTGAGE CORPORATION 6 6.71% $13,866
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.50% $9,548
    Strong Home Mortgage, LLC 6 5.63% $7,255
    EMBRACE HOME LOANS, INC. 6 6.16% $9,521
    DRAPER AND KRAMER MORTGAGE CORP. 5 5.88% $10,067
    MORTGAGEONE, INC. 5 6.38% $8,800
    T2 FINANCIAL LLC 5 6.65% $9,407
    JPMorgan Chase Bank 5 6.33% $7,318
    GENEVA FINANCIAL, LLC 5 7.05% $10,367
    LEADERONE FINANCIAL CORPORATION 5 6.83% $11,532
    Carrington Mortgage Services, LLC 5 5.93% $5,824
    PLAZA HOME MORTGAGE, INC. 5 6.37% $9,997
    MCLEAN MORTGAGE CORPORATION 5 6.05% $1,820
    The Central Trust Bank 4 5.94% $13,493
    INTELLILOAN, INC. 4 5.88% $6,656
    DATA MORTGAGE, INC. 4 6.31% $11,801
    Residential Mortgage Solutions, Inc. 4 6.53% $11,079
    MICHIGAN MUTUAL, INC. 4 5.97% $9,192
    AMERICAN FINANCIAL RESOURCES, INC. 4 6.88% $5,565
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 4 6.88% $11,913
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.19% $11,286
    Nations Lending Corporation 4 6.88% $12,725
    First Heritage Mortgage, LLC 4 6.91% $8,408
    VAN DYK MORTGAGE CORPORATION 4 6.66% $3,855
    SOVEREIGN LENDING GROUP INCORPORATED 4 5.81% $20,731
    HomePromise Corporation 3 7.79% $13,158
    GSF Mortgage Corporation 3 6.83% $7,217
    INTERCOASTAL MORTGAGE COMPANY 3 5.91% $9,804
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.67% $13,188
    FIRST SAVINGS MORTGAGE CORPORATION 3 6.21% $12,959
    ZILLOW HOME LOANS, LLC 3 6.33% $6,195
    Loan Simple, Inc. 3 6.71% $9,171
    First Federal Bank 3 6.71% $12,613
    NETWORK CAPITAL FUNDING CORPORATION 3 5.63% $4,701
    Northpointe Bank 3 6.54% $14,047
    PHH Mortgage Corporation 3 6.58% $6,172
    PREMIA MORTGAGE, LLC 3 6.88% $6,473
    Community First National Bank 3 6.38% $10,092
    Sandy Spring Bank 3 7.00% $8,574
    Shamrock Home Loans, Inc. 3 6.62% $11,789
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.33% $9,463
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 3 7.20% $6,185
    Waterstone Mortgage Corporation 3 6.46% $10,086
    DAS Acquisition Company, LLC 2 7.31% $5,748
    Atlantic Union Bank 2 6.38% $14,712
    ROYAL UNITED MORTGAGE LLC 2 6.94% $14,472
    STAUNTON FINANCIAL, INC. 2 5.63% $11,471
    PNC Bank 2 6.69% $8,831
    American Security Mortgage Corp. 2 6.56% $8,691
    Vellum Mortgage, Inc. 2 6.88% $19,760
    American Mortgage & Equity Consultants, Inc. 2 6.63% $8,534
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 2 6.31% $6,189
    Century Mortgage Company DBA Century Lending Company 2 5.44% $7,177
    AMERICAN FINANCING CORPORATION 2 6.56% $9,661
    CORNERSTONE HOME LENDING, INC. 2 7.50% $7,951
    GUARANTEED RATE AFFINITY, LLC 2 5.69% $10,200
    Bank of America 2 5.19% $8,869
    JOHNSON MORTGAGE COMPANY, L.L.C. 2 5.06% $14,249
    Ixonia Bank 2 7.38% $10,793
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.31% $26,531
    Southern Bank and Trust Company 2 6.19% $9,766
    The Huntington National Bank 2 5.06% $11,899
    Bank of England 2 5.94% $12,536
    Evolve Bank & Trust 2 7.06% $4,666
    THE MORTGAGE LINK, INC. 2 6.81% $9,978
    HOMESTEAD FUNDING CORP. 2 5.81% $6,738
    Virginia Credit Union, Inc. 1 6.63% $11,437
    Capital Bank 1 6.00% $10,284
    GVC MORTGAGE, INC. 1 5.75% $15,407
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.75% $13,568
    SmartBank 1 5.63% $10,528
    ACADEMY MORTGAGE CORPORATION 1 7.25% $9,188
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.13% $10,449
    LADERA LENDING, INC. 1 6.75% $18,567
    Advisors Mortgage Group, L.L.C. 1 5.75% $11,412
    SUMMIT FUNDING, INC. 1 7.25% $11,485
    Summit Mortgage Corporation 1 5.25% $15,590
    Sunflower Bank 1 5.99% $28,790
    iCore Lending, Inc. 1 5.63% $13,335
    BancorpSouth 1 5.75% $13,621
    THE MORTGAGE FIRM, INC. 1 6.38% $14,110
    AXIA FINANCIAL, LLC 1 6.13% $6,013
    TJC Mortgage, Inc. 1 5.13% $6,897
    TOP FLITE FINANCIAL, INC. 1 7.25% $24,489
    AmeriHome Mortgage Company, LLC 1 5.63% $10,535
    Wyndham Capital Mortgage, Inc. 1 4.75% $29,799
    UNITED SECURITY FINANCIAL CORP 1 6.75% $15,514
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.88% $14,558
    University Bank 1 6.75% $11,581
    ENVOY MORTGAGE, LTD 1 6.38% $13,735
    Farmers Bank & Trust 1 5.13% $2,691
    M&T Bank 1 6.50% $3,704
    Extraco Banks 1 6.13% $15,597
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $31,483
    MLD MORTGAGE INC. 1 6.88% $17,189
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.13% $8,312
    EVERETT FINANCIAL, INC. 1 7.13% $7,504
    Fifth Third Bank 1 6.13% $0
    First National Bank of Pennsylvania 1 5.63% $17,742
    Eagle Bank and Trust Company 1 6.50% $9,752
    MID AMERICA MORTGAGE, INC. 1 6.13% $4,809
    DELMAR FINANCIAL COMPANY 1 7.50% $24,386
    ALLIED MORTGAGE GROUP, INC. 1 7.63% $9,067
    MANN FINANCIAL INC. 1 6.50% $17,705
    Old National Bank 1 6.99% $8,941
    Credence Funding Corporation 1 5.38% $8,656
    Cornerstone First Mortgage, Inc 1 5.63% $9,575
    First Option Mortgage, LLC 1 7.75% $7,642
    First Reliance Bank 1 5.75% $3,674
    PLUS RELOCATION MORTGAGE, LLC 1 6.25% $12,556
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.63% $13,467
    ALAMEDA MORTGAGE CORPORATION 1 5.88% $11,760
    CityWorth Mortgage LLC 1 5.25% $13,777
    Princeton Mortgage Corporation 1 6.13% $20,402
    Citizens Bank 1 6.25% $8,506
    Red River Bank 1 5.63% $5,006
    LOANLEADERS OF AMERICA, INC. 1 6.25% $20,374
    RESIDENTIAL HOME FUNDING CORP. 1 5.25% $16,869
    First Savings Bank 1 6.25% $3,379
    S1L, Inc. 1 5.25% $18,802

    The top Virginia Beach VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,595 VA loans originated. Their average total fees are $8,517, which is $1,771 lower than the next largest lender, AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC.

    The lowest fee Virginia Beach VA lenders (with over 10 loans originated) are DRAGAS MORTGAGE COMPANY ($7,523), Wells Fargo Bank ($7,754), EAGLE HOME MORTGAGE, LLC ($7,785), HOMESPIRE MORTGAGE CORPORATION ($7,851) and Barrington Bank & Trust Company, N.A. ($8,017).

    The lowest rate Virginia Beach VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), NVR Mortgage Finance, Inc. (5.53%), BNC National Bank (5.55%), PENNYMAC LOAN SERVICES, LLC (5.55%) and U.S. Bank (5.71%).

    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.