Youngstown VA Loan Rates, Closing Costs & Stats

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA

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.

Youngstown's 72 lenders originated 441 VA loans during 2023. The total origination value was $92,785,000, with an average VA loan value of $210,397.

Youngstown VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Youngstown averaged 0.27% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Youngstown's average VA mortgage closing costs are $5,006.

The average rate for the prior week (2024-06-14) was 6.68% and one month ago for the week of 2024-05-17, the average rate was 6.67%.

The average rate one year ago was 6.98%.

For refis of the same type during the week of 2024-06-21, the average rate was 1.36%.

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

Youngstown 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 Youngstown level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 114 6.80% $4,772
QUICKEN LOANS, LLC 34 6.52% $9,765
Ixonia Bank 30 7.22% $6,605
UNITED WHOLESALE MORTGAGE, LLC 25 6.47% $6,829
CROSSCOUNTRY MORTGAGE, LLC 21 7.15% $5,221
NAVY FEDERAL CREDIT UNION 16 5.84% $4,200
NEW DAY FINANCIAL, LLC 14 7.81% $10,339
WEST PENN FINANCIAL SERVICE CENTER, INC. 10 6.46% $8,237
USAA Federal Savings Bank 9 6.39% $7,078
PENNYMAC LOAN SERVICES, LLC 7 5.36% $5,223
FREEDOM MORTGAGE CORPORATION 7 6.70% $9,386
The Huntington National Bank 6 6.46% $5,112
The Federal Savings Bank 6 6.21% $13,719
Seven Seventeen Credit Union 6 7.17% $21,689
HOWARD HANNA FINANCIAL SERVICES, INC. 6 6.31% $6,502
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.52% $7,245
VILLAGE CAPITAL MORTGAGE 5 5.95% $6,257
RUOFF MORTGAGE COMPANY, INC. 5 6.73% $1,940
Barrington Bank & Trust Company, N.A. 4 5.94% $10,690
UNION HOME MORTGAGE CORP. 4 6.72% $4,375
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.00% $7,066
NEWREZ LLC 3 6.58% $9,387
LIBERTY HOME MORTGAGE CORPORATION 3 7.25% $5,677
LOANDEPOT.COM, LLC 3 6.46% $16,050
RAPID MORTGAGE COMPANY 3 6.79% $12,451
PNC Bank 3 6.58% $8,342
LOANPAL, LLC 3 6.41% $6,614
The Farmers National Bank of Canfield 2 5.69% $9,637
AMERISAVE MORTGAGE CORPORATION 2 5.81% $11,840
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.88% $3,132
CARDINAL FINANCIAL 2 6.13% $4,295
Citizens Bank 2 6.13% $4,925
CONTOUR MORTGAGE CORPORATION 2 6.25% $12,162
EMM LOANS LLC 2 6.19% $10,646
Equity Prime Mortgage LLC 2 6.25% $6,018
Flagstar Bank, FSB 2 6.19% $3,007
JPMorgan Chase Bank 2 6.69% $4,349
MICHIGAN MUTUAL, INC. 2 7.81% $3,094
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $8,950
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $22,081
Nations Lending Corporation 2 7.63% $10,580
PLANET HOME LENDING, LLC 2 6.44% $12,964
AFFORDABLE MORTGAGE ADVISORS, LLC. 2 7.00% $6,461
MOVEMENT MORTGAGE, LLC 1 6.75% $6,868
Ameris Bank 1 6.25% $4,487
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $8,481
U.S. Bank 1 5.75% $8,177
GUILD MORTGAGE COMPANY 1 6.63% $16,977
GUARANTEED RATE, INC. 1 6.75% $625
GSF Mortgage Corporation 1 6.63% $7,493
North American Savings Bank, F.S.B. 1 5.13% $4,891
Paramount Residential Mortgage Group, Inc. 1 6.75% $6,230
GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $27,850
PENTAGON FEDERAL CREDIT UNION 1 5.63% $7,549
American Midwest Mortgage Corporation 1 7.50% $3,293
First Federal Bank 1 7.13% $7,756
FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $8,280
First Commonwealth Bank 1 5.63% $4,842
EQUITY RESOURCES, INC. 1 6.50% $5,008
Cornerstone First Mortgage, Inc 1 7.25% $7,443
STOCKTON MORTGAGE CORPORATION 1 6.25% $6,708
T2 FINANCIAL LLC 1 5.75% $5,852
AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $10,221
CMG MORTGAGE, INC. 1 5.75% $10,755
CHURCHILL MORTGAGE CORPORATION 1 7.63% $5,576
BROKER SOLUTIONS, INC. 1 7.13% $4,702
LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,002
Union Savings Bank 1 6.63% $3,481
Mid-Continent Funding, Inc. 1 6.75% $4,917
MORIA DEVELOPMENT, INC. 1 5.25% $2,011
HOMESIDE FINANCIAL, LLC 1 6.75% $5,815
HomePromise Corporation 1 8.00% $791

The top Youngstown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 114 VA loans originated. Their average total fees are $4,772, which is $4,993 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Youngstown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,200), Mortgage Research Center, LLC ($4,772), CROSSCOUNTRY MORTGAGE, LLC ($5,221), Ixonia Bank ($6,605) and UNITED WHOLESALE MORTGAGE, LLC ($6,829).

The lowest rate Youngstown VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.84%), WEST PENN FINANCIAL SERVICE CENTER, INC. (6.46%), UNITED WHOLESALE MORTGAGE, LLC (6.47%), QUICKEN LOANS, LLC (6.52%) and Mortgage Research Center, LLC (6.80%).

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.