Alabama VA Loan Rates, Closing Costs & Stats

Alabama

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    • 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.

    Alabama VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Alabama averaged -0.23% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Alabama's average VA mortgage closing costs are $5,182.

    The average rate for the prior week (2023-11-17) was 6.62% and one month ago for the week of 2023-10-20, the average rate was 6.95%.

    The average rate one year ago was 5.96%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.93%.

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

    Alabama 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 Alabama level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 2,082 5.12% $5,760
    QUICKEN LOANS, LLC 867 4.25% $9,439
    UNITED WHOLESALE MORTGAGE, LLC 602 4.58% $8,315
    NAVY FEDERAL CREDIT UNION 516 4.06% $5,890
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 495 4.83% $6,824
    FREEDOM MORTGAGE CORPORATION 465 4.33% $9,258
    USAA Federal Savings Bank 436 4.49% $6,880
    PENNYMAC LOAN SERVICES, LLC 434 3.42% $7,341
    LOANDEPOT.COM, LLC 386 4.32% $9,818
    NEW DAY FINANCIAL, LLC 382 4.91% $9,266
    DHI MORTGAGE COMPANY, LTD. 375 4.01% $7,088
    Trustmark National Bank 245 4.68% $7,854
    GUILD MORTGAGE COMPANY 234 4.94% $9,744
    MOVEMENT MORTGAGE, LLC 222 4.85% $5,987
    HOME POINT FINANCIAL CORPORATION 219 4.27% $8,498
    FirstBank 211 4.51% $7,394
    INTERLINC MORTGAGE SERVICES, LLC 152 4.45% $6,842
    Hometown Lenders, Inc. 139 4.66% $9,183
    CROSSCOUNTRY MORTGAGE, LLC 132 4.93% $8,466
    Mr. Cooper ( Nationstar Mortgage ) 130 4.86% $9,165
    Renasant Bank 123 4.66% $7,223
    VANDERBILT MORTGAGE AND FINANCE, INC. 121 4.69% $6,217
    GMFS LLC 121 4.40% $6,463
    MORTGAGE SOLUTIONS OF COLORADO, LLC 121 5.74% $6,742
    CMG MORTGAGE, INC. 112 4.90% $9,877
    Regions Bank 111 4.61% $7,870
    Flagstar Bank, FSB 110 4.70% $7,375
    CALIBER HOME LOANS, INC. 109 4.69% $7,988
    BROKER SOLUTIONS, INC. 105 4.97% $9,261
    The Federal Savings Bank 99 4.72% $13,379
    Wells Fargo Bank 99 4.34% $4,638
    First Federal Bank, A FSB 98 4.76% $7,394
    ENVOY MORTGAGE, LTD 93 4.86% $8,010
    LAKEVIEW LOAN SERVICING, LLC 92 3.55% $4,633
    TJC Mortgage, Inc. 88 4.45% $10,613
    AMERISAVE MORTGAGE CORPORATION 86 4.17% $11,343
    Barrington Bank & Trust Company, N.A. 83 4.63% $6,073
    CERTAINTY HOME LOANS, LLC 82 4.47% $9,373
    HOMESTAR FINANCIAL CORPORATION 80 5.04% $7,776
    NEWREZ LLC 73 4.26% $7,393
    VILLAGE CAPITAL MORTGAGE 72 4.09% $7,504
    Ameris Bank 66 4.34% $6,421
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 65 5.01% $9,488
    PENTAGON FEDERAL CREDIT UNION 64 3.62% $7,922
    Northpointe Bank 60 4.75% $6,611
    GUARANTEED RATE, INC. 57 4.69% $7,376
    Mid-Continent Funding, Inc. 55 4.69% $6,453
    Synovus Bank 51 4.78% $5,407
    REDSTONE Federal Credit Union 50 4.88% $5,835
    Carrington Mortgage Services, LLC 50 4.76% $7,829
    CARDINAL FINANCIAL 49 4.95% $9,536
    FIRST COMMUNITY MORTGAGE, INC. 47 4.44% $6,965
    PRIMELENDING, A PLAINSCAPITAL COMPANY 46 4.95% $8,076
    SouthPoint Bank 46 4.77% $6,815
    BancorpSouth 45 4.81% $6,766
    CLEARPATH LENDING 44 3.72% $10,761
    Bank of England 43 4.69% $9,735
    Prosperity Home Mortgage, LLC 43 4.67% $8,749
    Progress Bank and Trust 43 4.05% $9,624
    Armed Forces Bank 38 4.33% $7,150
    Nations Lending Corporation 33 5.37% $8,805
    HOMEBRIDGE FINANCIAL SERVICES, INC. 33 4.99% $7,639
    PLANET HOME LENDING, LLC 33 4.17% $8,184
    UNION HOME MORTGAGE CORP. 32 5.11% $8,151
    EVERETT FINANCIAL, INC. 32 5.09% $4,227
    Assurance Financial Group, L.L.C. 31 4.84% $7,351
    First Federal Bank 30 4.45% $7,046
    North American Savings Bank, F.S.B. 30 3.90% $5,550
    EAGLE HOME MORTGAGE, LLC 30 5.22% $6,015
    MUTUAL OF OMAHA MORTGAGE, INC. 29 4.70% $11,289
    FBC MORTGAGE, LLC 29 4.74% $9,001
    South State Bank 29 4.66% $13,446
    EMBRACE HOME LOANS, INC. 29 4.96% $6,966
    DSLD MORTGAGE, LLC 28 4.09% $5,071
    Hamilton Mortgage Corporation 28 4.46% $8,366
    AMERICAN FINANCING CORPORATION 26 4.19% $7,281
    LEADERONE FINANCIAL CORPORATION 26 5.37% $8,396
    BAY EQUITY LLC 26 4.73% $6,945
    SOUTHWEST FUNDING, LP 25 5.13% $9,533
    Magnolia Bank 25 4.12% $12,978
    Truist 25 4.43% $5,038
    RUOFF MORTGAGE COMPANY, INC. 24 5.31% $8,114
    Citizens Bank 22 4.74% $6,441
    AMERICAN PACIFIC MORTGAGE CORPORATION 22 5.18% $9,109
    RELIANCE FIRST CAPITAL, LLC 22 4.68% $8,680
    NBKC BANK 22 4.02% $7,771
    SUCCESS MORTGAGE PARTNERS, INC. 21 4.82% $7,313
    First Horizon Bank 20 4.28% $5,163
    Low VA Rates, LLC 20 4.26% $10,174
    Equity Prime Mortgage LLC 19 5.70% $7,820
    U.S. Bank 18 4.80% $8,218
    CONTOUR MORTGAGE CORPORATION 18 4.41% $12,157
    MILEND, INC. 17 6.11% $11,969
    Bank Independent 17 4.74% $6,537
    PREMIA MORTGAGE, LLC 16 4.48% $5,168
    FirstTrust Home Loans, Inc. 16 5.02% $6,143
    MORTGAGE INVESTORS GROUP, INC. 16 4.90% $9,730
    SUN WEST MORTGAGE COMPANY, INC. 15 4.58% $4,042
    BNC National Bank 14 3.74% $6,959
    The Central Trust Bank 13 3.84% $7,965
    GUARANTY HOME MORTGAGE CORPORATION 13 4.61% $6,183
    Gateway First Bank 13 4.61% $7,626
    HUNT MORTGAGE CORPORATION 13 5.17% $5,870
    FINANCE OF AMERICA MORTGAGE LLC 12 4.44% $10,508
    HOMETRUST MORTGAGE COMPANY 12 4.00% $8,082
    GUARANTEED RATE AFFINITY, LLC 12 4.69% $3,685
    The Home Loan Expert LLC 11 5.15% $13,085
    Plains Commerce Bank 11 4.88% $8,775
    West Town Bank & Trust 11 4.77% $8,124
    SECURITYNATIONAL MORTGAGE COMPANY 11 4.66% $10,212
    Total Media Management, LLC 10 4.12% $8,454
    PNC Bank 10 4.51% $6,800
    PRIMARY RESIDENTIAL MORTGAGE, INC. 10 4.86% $5,601
    DIRECT MORTGAGE LOANS, LLC 10 5.36% $8,466
    SOVEREIGN LENDING GROUP INCORPORATED 10 4.75% $8,989
    Texana Bank 10 4.16% $10,919
    THE MORTGAGE FIRM, INC. 10 5.25% $7,261
    HOMEOWNERS FINANCIAL GROUP USA, LLC 10 4.96% $7,799
    Waterstone Mortgage Corporation 10 4.95% $11,961
    CORNERSTONE HOME LENDING, INC. 9 5.90% $4,530
    NETWORK CAPITAL FUNDING CORPORATION 9 4.85% $8,834
    AMERIFIRST FINANCIAL CORPORATION 9 5.25% $10,128
    Goldwater Bank, N.A. 9 5.32% $9,143
    Tyndall Federal Credit Union 9 5.11% $8,635
    DAS Acquisition Company, LLC 8 5.67% $9,360
    SWBC MORTGAGE CORPORATION 8 5.19% $8,092
    SUMMIT FUNDING, INC. 8 5.23% $10,950
    Paramount Residential Mortgage Group, Inc. 8 4.67% $7,801
    SOUTHWEST STAGE FUNDING, LLC 8 5.50% $2,917
    NFM, INC. 8 4.98% $5,345
    AMERICAN FINANCIAL RESOURCES, INC. 8 5.22% $3,991
    Consumer First Mortgage, Inc. 8 4.66% $5,158
    Sierra Pacific Mortgage Company, Inc. 7 3.95% $6,742
    Ixonia Bank 7 5.84% $8,667
    M&T Bank 7 4.96% $8,311
    KELLER MORTGAGE, LLC 7 4.55% $9,091
    T2 FINANCIAL LLC 7 5.25% $8,408
    AVADIAN 7 2.91% $8,259
    ACOPIA, LLC 7 4.78% $4,137
    HOMESIDE FINANCIAL, LLC 7 4.46% $10,161
    Sunflower Bank 6 5.12% $10,127
    CB&S Bank, Inc. 6 4.29% $4,488
    CHURCHILL MORTGAGE CORPORATION 6 4.46% $7,816
    First Guaranty Mortgage Corporation 6 4.31% $5,631
    JPMorgan Chase Bank 6 4.23% $6,217
    MAX Credit Union 6 4.56% $8,745
    NATIONS DIRECT MORTGAGE, LLC 6 3.67% $7,631
    STOCKTON MORTGAGE CORPORATION 6 4.23% $6,438
    TOWNE MORTGAGE COMPANY 6 4.33% $7,619
    Wolfe Financial, Inc 6 4.81% $5,075
    First Federal Bank of Kansas City 5 3.18% $4,197
    COMMUNITY MORTGAGE CORPORATION 5 4.10% $8,193
    S1L, Inc. 5 4.58% $6,523
    KEESLER 5 3.98% $4,990
    BAYSHORE MORTGAGE FUNDING, LLC 5 5.43% $7,559
    Pinnacle Bank 5 5.00% $8,006
    Wyndham Capital Mortgage, Inc. 5 4.70% $3,820
    PACIFIC RESIDENTIAL MORTGAGE, LLC 4 5.00% $8,523
    PLAZA HOME MORTGAGE, INC. 4 5.41% $6,567
    Century Mortgage Company DBA Century Lending Company 4 3.97% $5,890
    DRAPER AND KRAMER MORTGAGE CORP. 4 4.38% $7,915
    HomePromise Corporation 4 5.47% $8,866
    ROYAL UNITED MORTGAGE LLC 4 5.38% $13,644
    Amerifirst Financial, Inc. 4 4.16% $12,815
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 4.22% $18,500
    NBH Bank 4 5.31% $13,988
    SIRVA MORTGAGE, INC. 4 4.94% $7,535
    Community Bank of Mississippi 4 4.91% $10,663
    First Option Mortgage, LLC 4 4.91% $11,756
    ALL IN 4 4.66% $14,906
    Centennial Bank 4 4.81% $9,750
    Capital Bank 3 4.38% $7,389
    Paramount Bank 3 3.04% $4,821
    CIS Financial Services, Inc. 3 4.58% $16,890
    FIDELITY BANK 3 5.17% $3,342
    PHH Mortgage Corporation 3 4.88% $4,554
    First Savings Bank 3 5.25% $15,268
    EMM LOANS LLC 3 6.08% $6,186
    Community First National Bank 3 4.46% $9,669
    Princeton Mortgage Corporation 3 6.08% $18,059
    LENOX FINANCIAL MORTGAGE CORPORATION 3 3.88% $12,395
    Valley National Bank 3 4.37% $3,900
    Core Bank 3 3.33% $7,458
    AMERICAN MORTGAGE SERVICE COMPANY 3 4.96% $8,024
    Meridian Bank Corporation 3 4.66% $14,953
    GSF Mortgage Corporation 3 4.71% $12,267
    GoPrime Mortgage, Inc. 3 6.00% $10,589
    Alcova Mortgage LLC 3 3.88% $6,481
    GENEVA FINANCIAL, LLC 3 4.88% $7,536
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.38% $9,762
    ZILLOW HOME LOANS, LLC 3 3.04% $2,775
    LOANPAL, LLC 3 4.08% $11,119
    Austin Capital Bank SSB 3 4.25% $7,008
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 3 4.71% $15,982
    Bank of America 3 4.13% $9,736
    BankPlus 3 4.04% $10,182
    NP, Inc. 3 3.00% $9,616
    INSPIRE HOME LOANS INC. 2 5.31% $8,077
    HOMESTEAD FUNDING CORP. 2 3.81% $23,266
    HOMESPIRE MORTGAGE CORPORATION 2 4.25% $5,419
    ACADEMY MORTGAGE CORPORATION 2 5.00% $4,392
    MIDLAND MORTGAGE CORPORATION 2 5.50% $8,102
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 4.63% $13,274
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 2 4.88% $5,331
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 4.81% $12,562
    GERSHMAN INVESTMENT CORP. 2 5.06% $12,886
    Florida Capital Bank 2 4.19% $7,199
    NATIONS RELIABLE LENDING, LLC 2 5.00% $13,847
    First Internet Bank of Indiana 2 5.69% $5,400
    DELMAR FINANCIAL COMPANY 2 3.25% $4,804
    CRESCENT MORTGAGE COMPANY 2 3.81% $4,133
    Credence Funding Corporation 2 4.75% $10,867
    ROSS MORTGAGE CORPORATION 2 6.38% $6,826
    Service Federal Credit Union 2 5.38% $7,591
    Colten Mortgage, LLC 2 3.75% $6,041
    Strong Home Mortgage, LLC 2 2.38% $6,818
    CBM Mortgage, Inc. 2 3.69% $22,341
    Capital City Home Loans, LLC 2 5.94% $4,568
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 2 5.88% $12,726
    THRIVE MORTGAGE, LLC 2 4.94% $7,628
    ARC HOME LLC 2 6.63% $11,026
    UNIVERSITY LENDING GROUP, LLC 2 4.06% $10,524
    AMCAP MORTGAGE, LTD. 2 4.25% $15,654
    LOANFLIGHT LENDING, LLC 1 2.75% $2,525
    Platinum Home Mortgage Corporation 1 5.63% $7,362
    SmartBank 1 5.25% $7,920
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.99% $16,424
    CityWorth Mortgage LLC 1 2.75% $4,216
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 4.75% $8,003
    EVANSVILLE TEACHERS 1 3.25% $3,500
    Fifth Third Bank 1 3.00% $1,932
    Chambers Bank 1 4.88% $15,675
    FIRST COLONY MORTGAGE CORPORATION 1 5.63% $9,567
    PANORAMA MORTGAGE GROUP, LLC 1 4.63% $6,677
    Stride Bank 1 4.13% $11,982
    V.I.P. MORTGAGE, INC. 1 3.99% $17,417
    OPEN MORTGAGE, LLC 1 4.75% $8,114
    Midwest Mortgage Associates Corporation 1 4.50% $5,159
    ABSOLUTE HOME MORTGAGE CORPORATION 1 5.50% $8,209
    MID AMERICA MORTGAGE, INC. 1 3.75% $2,304
    OCEANSIDE MORTGAGE COMPANY 1 5.00% $1,527
    Blue Ridge Bank 1 3.63% $7,603
    Bell Bank 1 5.63% $11,173
    BELEM SERVICING LLC 1 4.75% $16,159
    BECKAM FUNDING CORP. 1 5.75% $21,407
    First Home Bank 1 3.00% $16,739
    The First National Bank of Middle Tennessee 1 2.75% $2,076
    First Palmetto Bank 1 5.25% $12,595
    MICHIGAN MUTUAL, INC. 1 4.13% $2,329
    INTERCAP LENDING INC. 1 3.88% $7,736
    First Reliance Bank 1 6.63% $7,900
    First United Bank and Trust Company 1 5.63% $24,434
    Towne Bank 1 4.88% $4,017
    Wyoming Bank & Trust 1 6.00% $4,860
    MYCUMORTGAGE, LLC 1 3.00% $0
    LOANLEADERS OF AMERICA, INC. 1 3.75% $17,167
    AmRes Corporation 1 2.75% $4,888
    Gulf Coast Bank and Trust Company 1 5.13% $4,147
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $39
    LIBERTY HOME MORTGAGE CORPORATION 1 4.75% $3,775
    Hancock Whitney Bank 1 2.75% $12,818
    American Mortgage & Equity Consultants, Inc. 1 6.99% $13,992
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $9,595
    DATA MORTGAGE, INC. 1 6.13% $600
    RESIDENTIAL BANCORP 1 3.13% $4,627
    MORTGAGE ACCESS CORP. 1 3.75% $1,655
    DIRECT LENDERS, LLC 1 5.63% $8,294
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $18,830
    Eagle Bank and Trust Company 1 3.63% $2,900
    POLARIS HOME FUNDING CORP. 1 6.75% $8,856
    Semper Home Loans, Inc. 1 4.63% $2,135
    AMERICAN HOME LENDING USA, LLC 1 6.13% $6,376
    ServisFirst Bank 1 3.25% $2,259

    The top Alabama VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2,082 VA loans originated. Their average total fees are $5,760, which is $3,679 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Alabama VA lenders (with over 10 loans originated) are GUARANTEED RATE AFFINITY, LLC ($3,685), SUN WEST MORTGAGE COMPANY, INC. ($4,042), EVERETT FINANCIAL, INC. ($4,227), LAKEVIEW LOAN SERVICING, LLC ($4,633) and Wells Fargo Bank ($4,638).

    The lowest rate Alabama VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.42%), LAKEVIEW LOAN SERVICING, LLC (3.55%), PENTAGON FEDERAL CREDIT UNION (3.62%), CLEARPATH LENDING (3.72%) and BNC National Bank (3.74%).

    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.