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 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%).