Waycross VA Loan Rates, Closing Costs & Stats

Waycross, GA

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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.

    Waycross's 37 lenders originated 102 VA loans during 2023. The total origination value was $22,980,000, with an average VA loan value of $225,294.

    Waycross VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Waycross averaged 6.74% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Waycross's average VA mortgage closing costs are $4,515.

    The average rate for the prior week (2024-11-01) was 6.69% and one month ago for the week of 2024-10-04, the average rate was 6.02%.

    The average rate one year ago was 7.28%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Waycross 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 Waycross level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 26 6.72% $3,706
    UNITED WHOLESALE MORTGAGE, LLC 10 6.35% $3,319
    QUICKEN LOANS, LLC 7 5.68% $9,921
    GUARANTEED RATE, INC. 6 6.52% $3,557
    NAVY FEDERAL CREDIT UNION 4 5.66% $5,090
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 8.04% $1,431
    Barrington Bank & Trust Company, N.A. 3 6.58% $9,757
    NEW DAY FINANCIAL, LLC 3 7.16% $13,546
    TOWNE MORTGAGE COMPANY 2 6.69% $6,976
    Mid-Continent Funding, Inc. 2 6.19% $5,189
    PENNYMAC LOAN SERVICES, LLC 2 5.94% $6,284
    INTERCOASTAL MORTGAGE COMPANY 1 7.00% $1,761
    LOANDEPOT.COM, LLC 1 7.63% $2,486
    Magnolia Bank 1 6.38% $5,582
    MILEND, INC. 1 6.50% $5,722
    MOVEMENT MORTGAGE, LLC 1 7.25% $12,060
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $11,879
    NATIONS RELIABLE LENDING, LLC 1 7.75% $473
    NEWREZ LLC 1 6.75% $3,927
    Prosperity Home Mortgage, LLC 1 6.13% $6,451
    SIRVA MORTGAGE, INC. 1 6.00% $5,674
    The Federal Savings Bank 1 7.38% $5,805
    UNION HOME MORTGAGE CORP. 1 6.75% $6,002
    USAA Federal Savings Bank 1 5.75% $13,506
    VILLAGE CAPITAL MORTGAGE 1 7.25% $22,762
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $6,607
    ZILLOW HOME LOANS, LLC 1 6.25% $4,511
    Ameris Bank 1 6.63% $11,844
    BROKER SOLUTIONS, INC. 1 7.00% $3,468
    CARDINAL FINANCIAL 1 6.25% $7,641
    CMG MORTGAGE, INC. 1 6.25% $7,082
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 7.25% $2,932
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.88% $14,728
    Equity Prime Mortgage LLC 1 8.25% $6,500
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.13% $3,601
    FIRST COMMUNITY MORTGAGE, INC. 1 6.88% $5,424
    FREEDOM MORTGAGE CORPORATION 1 6.00% $9,379

    The top Waycross VA lender as defined by loan originations is Mortgage Research Center, LLC, with 26 VA loans originated. Their average total fees are $3,706, which is $387 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Waycross VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($3,319), Mortgage Research Center, LLC ($3,706), .

    The lowest rate Waycross VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.35%), Mortgage Research Center, LLC (6.72%), .

    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.