West Plains VA Loan Rates, Closing Costs & Stats

West Plains, MO

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.

West Plains's 27 lenders originated 67 VA loans during 2024. The total origination value was $17,485,000, with an average VA loan value of $260,970.

West Plains VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in West Plains averaged 0.2% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

West Plains's average VA mortgage closing costs are $3,938.

The average rate for the prior week (2025-06-13) was 6.75% and one month ago for the week of 2025-05-16, the average rate was 6.91%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.1%.

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

West Plains 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 West Plains level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 14 6.21% $4,484
FREEDOM MORTGAGE CORPORATION 8 5.95% $8,774
DAS Acquisition Company, LLC 5 6.73% $6,233
VILLAGE CAPITAL MORTGAGE 4 6.25% $7,068
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.41% $1,088
UNITED WHOLESALE MORTGAGE, LLC 2 5.75% $7,004
PENNYMAC LOAN SERVICES, LLC 2 5.25% $4,649
Equity Prime Mortgage LLC 2 6.75% $4,633
LOANDEPOT.COM, LLC 1 6.25% $8,518
AMERISAVE MORTGAGE CORPORATION 1 5.63% $13,665
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.25% $0
NEW DAY FINANCIAL, LLC 1 7.49% $9,907
PLANET HOME LENDING, LLC 1 5.50% $3,333
QUICKEN LOANS, LLC 1 7.13% $7,609
Servion, Inc. 1 6.25% $6,182
Simmons Bank 1 5.75% $2,965
SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $13,234
USAA Federal Savings Bank 1 6.88% $2,326
VERIDIAN CREDIT UNION 1 7.13% $2,106
Mid-Continent Funding, Inc. 1 7.63% $2,933
Ameris Bank 1 7.63% $2,347
Barrington Bank & Trust Company, N.A. 1 6.75% $6,306
Carrington Mortgage Services, LLC 1 7.00% $6,863
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $4,333
First State Bank of St. Charles, Missouri 1 6.00% $8,260
FLAT BRANCH MORTGAGE, INC. 1 6.13% $2,934
LAKEVIEW LOAN SERVICING, LLC 1 5.50% $4,920

The top West Plains VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $4,484, which is $4,291 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee West Plains VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,484), .

The lowest rate West Plains VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.21%), .

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.