Virginia USDA Loan Rates, Closing Costs & Stats

Virginia

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Virginia USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Virginia averaged -0.6% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Virginia's average USDA mortgage closing costs are $5,382.

    The average rate for the prior week (2023-11-17) was 6.49% and one month ago for the week of 2023-10-20, the average rate was 6.81%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.54%.

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

    Virginia USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Virginia level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Alcova Mortgage LLC 294 5.08% $2,947
    MOVEMENT MORTGAGE, LLC 174 4.71% $7,536
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 157 4.92% $6,922
    EMBRACE HOME LOANS, INC. 77 4.64% $6,652
    Integrity Home Mortgage Corp 69 4.48% $7,675
    UNITED WHOLESALE MORTGAGE, LLC 64 4.66% $7,590
    CALIBER HOME LOANS, INC. 62 4.42% $6,293
    CBM Mortgage, Inc. 55 4.93% $7,516
    George Mason Mortgage, LLC 54 4.19% $8,253
    Atlantic Union Bank 50 4.99% $5,747
    Blue Ridge Bank 43 4.81% $6,683
    Renasant Bank 43 4.44% $5,278
    Atlantic Coast Mortgage, LLC 41 4.99% $8,582
    C & F Mortgage Corporation 34 4.72% $7,553
    NVR Mortgage Finance, Inc. 34 3.99% $10,465
    CARDINAL FINANCIAL 28 4.52% $8,183
    TIDEWATER MORTGAGE SERVICES, INC. 28 4.45% $10,095
    Prosperity Home Mortgage, LLC 28 4.20% $6,810
    HOME POINT FINANCIAL CORPORATION 26 4.19% $6,811
    EMM LOANS LLC 23 4.82% $6,941
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 4.68% $6,579
    NATION ONE MORTGAGE CORPORATION 21 4.63% $7,479
    PLANET HOME LENDING, LLC 18 4.24% $8,527
    Presidential Bank, FSB 17 4.68% $8,331
    FINANCE OF AMERICA MORTGAGE LLC 16 4.62% $8,030
    PENNYMAC LOAN SERVICES, LLC 16 2.95% $6,468
    FREEDOM FIRST 15 3.71% $5,547
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 4.84% $8,237
    CROSSCOUNTRY MORTGAGE, LLC 14 4.63% $7,113
    DUPONT COMMUNITY 14 4.80% $5,116
    GUILD MORTGAGE COMPANY 14 4.67% $7,762
    First Heritage Mortgage, LLC 14 4.04% $7,783
    The Federal Savings Bank 13 4.23% $6,766
    First Reliance Bank 12 4.11% $5,217
    American National Bank and Trust Company 12 4.32% $5,877
    HOMESPIRE MORTGAGE CORPORATION 12 4.44% $7,141
    MCLEAN MORTGAGE CORPORATION 12 4.44% $9,404
    Truist 12 3.50% $5,278
    UNION HOME MORTGAGE CORP. 12 5.47% $6,382
    Ixonia Bank 11 4.50% $8,824
    NFM, INC. 11 4.94% $8,603
    Paramount Residential Mortgage Group, Inc. 10 5.20% $8,535
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 4.91% $7,338
    INTERCOASTAL MORTGAGE COMPANY 10 4.21% $7,137
    Waterstone Mortgage Corporation 10 4.86% $8,204
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 5.25% $4,422
    MID AMERICA MORTGAGE, INC. 9 5.01% $7,513
    SWBC MORTGAGE CORPORATION 8 5.06% $4,639
    Citizens Bank 8 4.59% $4,871
    CMG MORTGAGE, INC. 8 5.23% $7,312
    Virginia Credit Union, Inc. 8 4.19% $5,713
    Ameris Bank 8 4.47% $8,335
    VANDERBILT MORTGAGE AND FINANCE, INC. 7 5.11% $9,311
    Flagstar Bank, FSB 7 4.21% $7,338
    OVM FINANCIAL, INC. 7 4.25% $7,573
    Towne Bank 7 5.29% $7,915
    GUARANTY HOME MORTGAGE CORPORATION 7 4.39% $5,695
    DHI MORTGAGE COMPANY, LTD. 7 2.95% $10,849
    Towne First Mortgage, LLC 6 4.17% $7,884
    Tidewater Home Funding, LLC 6 4.17% $4,087
    The Freedom Bank of Virginia 6 3.85% $6,301
    GUARANTEED RATE, INC. 5 4.30% $6,984
    BROKER SOLUTIONS, INC. 5 4.93% $5,668
    Bank of England 5 4.70% $7,162
    THRIVE MORTGAGE, LLC 5 4.75% $8,664
    NEWREZ LLC 5 6.75% $7,790
    TOWNE MORTGAGE COMPANY 5 4.40% $6,454
    F & M BANK CORP. 5 3.55% $6,409
    Fulton Bank 4 4.28% $6,652
    APEX HOME LOANS, INC. 4 4.06% $5,756
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 5.03% $5,281
    FIRST HOME MORTGAGE CORPORATION 4 4.31% $7,315
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.44% $8,674
    Wells Fargo Bank 4 4.25% $5,602
    Assurance Financial Group, L.L.C. 4 3.81% $8,515
    Mortgage Research Center, LLC 4 5.50% $5,052
    SOUTHERN TRUST MORTGAGE, LLC 4 5.25% $8,531
    Hometown Lenders, Inc. 4 3.94% $9,463
    MIDLAND MORTGAGE CORPORATION 4 3.13% $5,060
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.83% $6,843
    Mortgage Network, Inc. 3 4.33% $5,953
    HANCOCK MORTGAGE PARTNERS, LLC 3 4.42% $5,772
    Century Mortgage Company DBA Century Lending Company 3 3.04% $6,360
    MASON MCDUFFIE MORTGAGE CORPORATION 3 3.50% $5,779
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.88% $6,998
    NATIONS RELIABLE LENDING, LLC 3 4.08% $6,846
    FIRST COMMUNITY MORTGAGE, INC. 3 5.33% $4,625
    CERTAINTY HOME LOANS, LLC 2 4.81% $8,664
    PLAZA HOME MORTGAGE, INC. 2 5.63% $4,616
    FBC MORTGAGE, LLC 2 4.13% $7,197
    C&F Select LLC 2 6.13% $7,565
    SECURITYNATIONAL MORTGAGE COMPANY 2 4.94% $7,806
    Sierra Pacific Mortgage Company, Inc. 2 4.69% $6,191
    Southern Bank and Trust Company 2 4.56% $2,761
    Summit Mortgage Corporation 2 5.31% $7,497
    FIRST EQUITY MORTGAGE INCORPORATED 2 3.31% $9,958
    HOMESIDE FINANCIAL, LLC 2 4.75% $7,038
    VILLAGE BANK MORTGAGE CORPORATION 2 4.63% $4,958
    First Guaranty Mortgage Corporation 2 4.00% $4,244
    Towne Mortgage, LLC 2 5.19% $9,066
    1ST SIGNATURE LENDING, LLC 2 5.69% $8,750
    Plains Commerce Bank 2 3.25% $8,565
    Victorian Finance, LLC 2 4.81% $9,300
    CORNERSTONE HOME LENDING, INC. 2 4.88% $6,794
    INTERLINC MORTGAGE SERVICES, LLC 2 5.38% $4,449
    Loan Simple, Inc. 2 4.13% $5,905
    MEMBER ADVANTAGE MORTGAGE, LLC 2 3.88% $5,503
    Member Options, LLC 2 5.75% $5,712
    EASTMAN 2 4.63% $4,289
    1ST FINANCIAL, INC. 2 4.88% $6,556
    NATIONS DIRECT MORTGAGE, LLC 2 4.00% $5,011
    Gateway First Bank 2 5.75% $4,275
    CRESCENT MORTGAGE COMPANY 1 4.25% $4,557
    CITIZENS EQUITY FIRST 1 3.25% $5,552
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $4,458
    Christensen Financial, Inc. 1 3.63% $9,176
    FIDELITY DIRECT MORTGAGE, LLC 1 4.13% $9,510
    First Horizon Bank 1 5.00% $4,019
    First National Bank of Pennsylvania 1 2.50% $6,134
    First Option Mortgage, LLC 1 5.63% $9,642
    GMFS LLC 1 5.25% $8,043
    GoPrime Mortgage, Inc. 1 2.38% $6,720
    GSF Mortgage Corporation 1 6.88% $10,853
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.13% $6,057
    Barrington Bank & Trust Company, N.A. 1 5.75% $7,170
    Home State Bank 1 5.63% $8,026
    Hometown Equity Mortgage, LLC 1 3.75% $9,862
    LEADERONE FINANCIAL CORPORATION 1 4.63% $5,985
    LOANDEPOT.COM, LLC 1 4.38% $16,603
    MISSION MORTGAGE LLC 1 4.13% $6,715
    MLD MORTGAGE INC. 1 4.38% $7,534
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $5,927
    Nations Lending Corporation 1 4.38% $15,331
    NATIONWIDE MORTGAGE BANKERS, INC. 1 2.88% $8,094
    Northpointe Bank 1 3.25% $6,304
    North State Bank 1 3.75% $3,293
    OCEANSIDE MORTGAGE COMPANY 1 4.00% $1,775
    ANGEL OAK HOME LOANS LLC 1 6.25% $4,531
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 4.00% $9,553
    RANLIFE, INC. 1 4.25% $11,134
    Regions Bank 1 4.75% $6,120
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.38% $6,540
    Shamrock Home Loans, Inc. 1 4.63% $4,515
    STOCKTON MORTGAGE CORPORATION 1 6.63% $15,349
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.00% $5,952
    TD Bank 1 2.88% $4,399
    The Central Trust Bank 1 5.13% $6,300
    ALLIED MORTGAGE GROUP, INC. 1 3.50% $5,260
    THE MORTGAGE LINK, INC. 1 5.38% $11,795
    Acre Mortgage and Financial Inc 1 4.25% $5,533
    VAN DYK MORTGAGE CORPORATION 1 5.25% $1,414
    Congressional Bank 1 3.13% $9,740
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 3.25% $7,332
    Colten Mortgage, LLC 1 2.88% $5,818

    The top Virginia USDA lender as defined by loan originations is Alcova Mortgage LLC, with 294 USDA loans originated. Their average total fees are $2,947, which is $4,588 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Virginia USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($2,947), DUPONT COMMUNITY ($5,116), First Reliance Bank ($5,217), Renasant Bank ($5,278) and Truist ($5,278).

    The lowest rate Virginia USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.95%), Truist (3.50%), FREEDOM FIRST (3.71%), NVR Mortgage Finance, Inc. (3.99%) and First Heritage Mortgage, LLC (4.04%).