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 -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%).