Virginia USDA Loan Rates, Closing Costs & Stats

Virginia

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 6.32% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

Virginia's average USDA mortgage closing costs are $5,222.

The average rate for the prior week (2023-03-10) was 6.64% and one month ago for the week of 2023-02-10, the average rate was 6.11%.

The average rate one year ago was 4.09%.

For refis of the same type during the week of 2023-03-17, the average rate was 6.38%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Alcova Mortgage LLC 558 3.06% $3,109
MOVEMENT MORTGAGE, LLC 416 2.95% $5,680
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 287 3.03% $5,952
Integrity Home Mortgage Corp 192 2.97% $6,281
EMBRACE HOME LOANS, INC. 192 2.81% $5,280
C & F Mortgage Corporation 144 2.89% $5,929
George Mason Mortgage, LLC 138 2.82% $6,597
CBM Mortgage, Inc. 133 2.92% $5,947
CALIBER HOME LOANS, INC. 124 2.86% $4,983
Blue Ridge Bank 88 2.82% $5,090
Prosperity Home Mortgage, LLC 86 2.77% $5,982
Atlantic Union Bank 80 3.04% $5,231
Renasant Bank 78 3.00% $5,133
NVR Mortgage Finance, Inc. 68 2.95% $9,084
Atlantic Coast Mortgage, LLC 65 2.82% $6,970
PENNYMAC LOAN SERVICES, LLC 58 2.84% $5,217
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 49 2.90% $6,877
First Reliance Bank 47 2.80% $5,075
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 47 3.10% $6,409
TIDEWATER MORTGAGE SERVICES, INC. 46 3.07% $6,895
The Federal Savings Bank 43 2.55% $4,954
First Heritage Mortgage, LLC 40 2.77% $6,613
RESIDENTIAL MORTGAGE SERVICES, INC. 38 2.79% $5,156
DUPONT COMMUNITY 36 3.15% $5,027
NATION ONE MORTGAGE CORPORATION 36 3.10% $6,149
MCLEAN MORTGAGE CORPORATION 36 2.73% $6,598
FINANCE OF AMERICA MORTGAGE LLC 35 3.04% $6,228
NFM, INC. 34 3.21% $6,287
PRIMELENDING, A PLAINSCAPITAL COMPANY 34 3.17% $6,474
Waterstone Mortgage Corporation 32 2.59% $7,830
HOME POINT FINANCIAL CORPORATION 32 2.65% $6,272
Tidewater Home Funding, LLC 31 2.88% $4,063
APEX HOME LOANS, INC. 31 2.76% $5,262
UNITED WHOLESALE MORTGAGE, LLC 31 2.79% $6,055
HOMESPIRE MORTGAGE CORPORATION 30 3.07% $6,108
CROSSCOUNTRY MORTGAGE, LLC 28 3.21% $5,409
Presidential Bank, FSB 28 2.91% $6,428
Towne First Mortgage, LLC 27 2.70% $6,304
Truist 26 2.83% $5,505
American National Bank and Trust Company 24 2.48% $4,398
PLANET HOME LENDING, LLC 24 2.84% $7,105
Citizens Bank 22 2.79% $5,672
OVM FINANCIAL, INC. 22 3.28% $6,321
AMERICAN FINANCIAL NETWORK, INC. 21 3.02% $10,896
Sierra Pacific Mortgage Company, Inc. 20 2.84% $6,016
FREEDOM FIRST 20 2.46% $4,865
Ameris Bank 20 2.84% $6,958
GUARANTY HOME MORTGAGE CORPORATION 19 2.69% $5,289
Towne Bank 19 2.68% $5,698
Flagstar Bank, FSB 19 2.67% $6,688
SOUTHERN TRUST MORTGAGE, LLC 19 2.83% $5,125
STEARNS LENDING, LLC 17 2.63% $5,235
SWBC MORTGAGE CORPORATION 17 3.06% $2,824
MID AMERICA MORTGAGE, INC. 17 2.91% $4,038
Summit Mortgage Corporation 16 2.90% $6,611
F & M BANK CORP. 15 2.90% $5,473
NEWREZ LLC 15 2.61% $5,321
Assurance Financial Group, L.L.C. 15 3.01% $5,738
DHI MORTGAGE COMPANY, LTD. 15 2.63% $8,378
First Guaranty Mortgage Corporation 15 2.84% $4,845
Carrington Mortgage Services, LLC 14 3.49% $5,568
GUARANTEED RATE, INC. 14 2.88% $6,233
PRIMARY RESIDENTIAL MORTGAGE, INC. 13 3.11% $6,241
Wells Fargo Bank 12 3.35% $3,814
Ixonia Bank 12 2.82% $7,764
FREEDOM MORTGAGE CORPORATION 12 2.99% $3,024
ROUNDPOINT MORTGAGE SERVICING CORPORATION 12 3.17% $2,289
VILLAGE BANK MORTGAGE CORPORATION 11 2.77% $4,920
UNION HOME MORTGAGE CORP. 11 2.64% $4,886
Colten Mortgage, LLC 11 2.89% $4,379
ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 3.27% $4,149
FIRST COMMUNITY MORTGAGE, INC. 10 2.70% $4,481
TOWNE MORTGAGE COMPANY 10 3.05% $5,560
Virginia Credit Union, Inc. 10 2.68% $4,252
LOANDEPOT.COM, LLC 10 3.06% $6,443
Magnolia Bank 10 3.44% $6,603
LAKEVIEW LOAN SERVICING, LLC 9 3.07% $3,215
Plains Commerce Bank 9 2.72% $6,166
Bank of England 9 3.10% $6,452
MASON MCDUFFIE MORTGAGE CORPORATION 9 2.97% $5,122
CORNERSTONE HOME LENDING, INC. 8 3.09% $4,818
Towne Mortgage, LLC 8 2.86% $5,803
GUILD MORTGAGE COMPANY 8 2.84% $6,106
The Fidelity Bank 7 3.00% $4,465
Fulton Bank 7 2.71% $6,434
Christensen Financial, Inc. 7 3.04% $6,309
PLAZA HOME MORTGAGE, INC. 7 2.89% $5,223
FIRST HOME MORTGAGE CORPORATION 7 3.00% $6,013
JOHNSON MORTGAGE COMPANY, L.L.C. 7 2.82% $6,672
AMERICAN PACIFIC MORTGAGE CORPORATION 7 3.09% $6,480
GoPrime Mortgage, Inc. 6 2.85% $6,166
Capital City Home Loans, LLC 6 2.58% $6,152
HOMEAMERICAN MORTGAGE CORPORATION 6 2.46% $4,219
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 6 3.48% $7,141
CMG MORTGAGE, INC. 6 3.42% $5,414
MIDLAND MORTGAGE CORPORATION 6 2.94% $4,339
BROKER SOLUTIONS, INC. 6 2.52% $6,899
THRIVE MORTGAGE, LLC 6 2.60% $5,212
SECURITYNATIONAL MORTGAGE COMPANY 6 3.10% $7,194
CREDIT UNION MORTGAGE ASSOCIATION, INC. 6 3.17% $4,920
INTERCOASTAL MORTGAGE COMPANY 5 3.27% $6,874
Northpointe Bank 5 2.90% $5,942
SUN WEST MORTGAGE COMPANY, INC. 5 2.45% $4,149
HANCOCK MORTGAGE PARTNERS, LLC 5 2.98% $6,562
AMERICAN FINANCIAL RESOURCES, INC. 5 3.38% $5,134
M&T Bank 5 2.88% $5,556
Hometown Lenders, Inc. 4 2.78% $11,042
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 3.28% $5,168
BAY CAPITAL MORTGAGE CORPORATION 4 2.84% $5,533
CHURCHILL MORTGAGE CORPORATION 4 2.81% $6,102
ENVOY MORTGAGE, LTD 4 3.19% $7,167
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 2.84% $4,560
Hometown Equity Mortgage, LLC 4 2.81% $10,285
LEADERONE FINANCIAL CORPORATION 4 2.94% $5,751
NATIONS DIRECT MORTGAGE, LLC 4 2.94% $4,038
NATIONS RELIABLE LENDING, LLC 4 2.94% $6,555
RANLIFE, INC. 4 3.09% $5,547
First Federal Bank 3 2.75% $4,517
BAYSHORE MORTGAGE FUNDING, LLC 3 3.13% $5,583
MLD MORTGAGE INC. 3 3.25% $5,227
EMM LOANS LLC 3 2.79% $5,196
EASTMAN 3 3.46% $3,908
VANDERBILT MORTGAGE AND FINANCE, INC. 3 2.83% $5,922
First-Citizens Bank & Trust Company 3 2.33% $4,836
STOCKTON MORTGAGE CORPORATION 3 2.75% $4,894
NewTowne Mortgage, LLC 3 2.58% $6,043
GSF Mortgage Corporation 3 3.25% $7,399
Mortgage Network, Inc. 3 3.00% $5,595
Century Mortgage Company DBA Century Lending Company 3 2.38% $6,416
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.00% $6,197
A Mortgage Boutique, LLC 2 2.44% $3,737
Vellum Mortgage, Inc. 2 2.88% $7,708
ROSS MORTGAGE CORPORATION 2 3.50% $7,664
HAMILTON HOME LOANS, INC. 2 3.12% $6,175
MORIA DEVELOPMENT, INC. 2 3.13% $5,964
OCEANSIDE MORTGAGE COMPANY 2 3.00% $1,317
SOUTHPOINT FINANCIAL SERVICES, INC. 2 2.38% $6,815
South State Bank 2 2.50% $4,283
Paramount Residential Mortgage Group, Inc. 2 3.31% $8,309
FIRST EQUITY MORTGAGE INCORPORATED 2 2.81% $6,678
LIBERTY HOME MORTGAGE CORPORATION 2 3.13% $5,862
Pinnacle Bank 2 2.75% $5,300
Equity Prime Mortgage LLC 2 3.13% $5,235
Keystone Funding, Inc. 2 2.88% $7,563
HOMESIDE FINANCIAL, LLC 2 3.25% $5,628
C&F Select LLC 2 3.06% $5,560
Capital Bank 2 2.63% $5,901
American Security Mortgage Corp. 1 3.00% $7,157
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $6,508
Meridian Bank Corporation 1 3.13% $5,320
North State Bank 1 2.75% $2,550
Member Options, LLC 1 2.63% $5,428
OPEN MORTGAGE, LLC 1 2.75% $4,551
MEMBER ADVANTAGE MORTGAGE, LLC 1 3.38% $7,017
JET HOMELOANS, LLC 1 3.13% $6,670
Horizon Credit Union 1 3.00% $4,974
PNC Bank 1 2.88% $4,008
HomeTrust Bank 1 2.75% $5,283
1ST FINANCIAL, INC. 1 3.25% $12,646
HOMESTEAD FUNDING CORP. 1 2.50% $3,390
HOMESTAR FINANCIAL CORPORATION 1 3.00% $5,192
Advance Financial Group, LLC 1 2.25% $6,263
RESIDENTIAL HOME FUNDING CORP. 1 3.25% $6,032
Shamrock Home Loans, Inc. 1 3.00% $5,333
GENEVA FINANCIAL, LLC 1 3.13% $8,810
First National Bank of Pennsylvania 1 2.88% $4,876
SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $5,043
Evolve Bank & Trust 1 3.25% $5,390
EQUITY RESOURCES, INC. 1 2.25% $4,170
DAS Acquisition Company, LLC 1 2.63% $11,079
TJC Mortgage, Inc. 1 2.63% $4,200
Bank of Tennessee 1 3.63% $4,442
ANGEL OAK HOME LOANS LLC 1 2.38% $5,091
Victorian Finance, LLC 1 3.25% $3,717
AMERISAVE MORTGAGE CORPORATION 1 3.00% $6,648
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $5,156
AMERICAN FINANCING CORPORATION 1 3.50% $3,401

The top Virginia USDA lender as defined by loan originations is Alcova Mortgage LLC, with 558 USDA loans originated. Their average total fees are $3,109, which is $2,572 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Virginia USDA lenders (with over 10 loans originated) are ROUNDPOINT MORTGAGE SERVICING CORPORATION ($2,289), SWBC MORTGAGE CORPORATION ($2,824), FREEDOM MORTGAGE CORPORATION ($3,024), Alcova Mortgage LLC ($3,109) and Wells Fargo Bank ($3,814).

The lowest rate Virginia USDA lenders (with over 10 loans originated) are FREEDOM FIRST (2.46%), American National Bank and Trust Company (2.48%), The Federal Savings Bank (2.55%), Waterstone Mortgage Corporation (2.59%) and NEWREZ LLC (2.61%).