Louisiana VA Loan Rates, Closing Costs & Stats

Louisiana

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.

Louisiana VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Louisiana averaged 6.29% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

Louisiana's average VA mortgage closing costs are $5,539.

The average rate for the prior week (2023-05-19) was 5.81% and one month ago for the week of 2023-04-21, the average rate was 5.73%.

The average rate one year ago was 4.71%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.36%.

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

Louisiana 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 Louisiana level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 1,076 5.06% $6,331
UNITED WHOLESALE MORTGAGE, LLC 480 4.72% $7,658
QUICKEN LOANS, LLC 337 4.18% $9,404
NAVY FEDERAL CREDIT UNION 280 4.03% $6,870
GMFS LLC 266 4.48% $6,716
FREEDOM MORTGAGE CORPORATION 253 4.62% $9,046
USAA Federal Savings Bank 197 4.33% $8,248
DHI MORTGAGE COMPANY, LTD. 178 4.29% $6,835
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 162 4.96% $6,486
EUSTIS AND AMERICAN MORTGAGE COMPANY 152 4.86% $7,100
MOVEMENT MORTGAGE, LLC 135 4.92% $6,673
DSLD MORTGAGE, LLC 133 4.88% $6,836
PENNYMAC LOAN SERVICES, LLC 127 3.56% $7,964
NEW DAY FINANCIAL, LLC 122 5.17% $9,470
LOANDEPOT.COM, LLC 120 4.27% $8,968
FIDELITY BANK 115 4.77% $8,228
Assurance Financial Group, L.L.C. 113 5.00% $8,285
HOME POINT FINANCIAL CORPORATION 105 4.40% $8,813
CALIBER HOME LOANS, INC. 102 4.56% $10,295
CARDINAL FINANCIAL 60 4.75% $10,680
Mr. Cooper ( Nationstar Mortgage ) 58 4.58% $8,041
Barrington Bank & Trust Company, N.A. 44 4.53% $7,224
NEWREZ LLC 43 4.36% $6,567
Flagstar Bank, FSB 41 4.35% $6,644
The Federal Savings Bank 39 4.71% $12,160
VILLAGE CAPITAL MORTGAGE 39 3.87% $9,044
CROSSCOUNTRY MORTGAGE, LLC 38 4.75% $10,189
Red River Bank 37 4.22% $7,692
Gulf Coast Bank and Trust Company 34 4.55% $10,959
Origin Bank 34 4.68% $8,985
Carrington Mortgage Services, LLC 34 4.76% $7,101
UNION HOME MORTGAGE CORP. 33 4.67% $7,892
LAKEVIEW LOAN SERVICING, LLC 32 3.23% $3,687
AMERISAVE MORTGAGE CORPORATION 31 4.41% $9,985
Mid-Continent Funding, Inc. 29 4.84% $7,476
PRIMARY RESIDENTIAL MORTGAGE, INC. 29 5.76% $4,841
PLANET HOME LENDING, LLC 29 5.24% $7,505
GUARANTEED RATE, INC. 29 5.25% $5,781
Wells Fargo Bank 28 4.33% $3,805
PRIMELENDING, A PLAINSCAPITAL COMPANY 27 5.01% $6,265
STANDARD MORTGAGE CORPORATION 27 4.23% $8,204
CMG MORTGAGE, INC. 27 4.33% $10,683
JPMorgan Chase Bank 26 4.47% $6,840
LHM FINANCIAL CORPORATION 25 4.72% $11,578
SOUTHWEST FUNDING, LP 25 5.46% $12,237
Citizens Bank 25 4.38% $6,177
MORTGAGE SOLUTIONS OF COLORADO, LLC 25 5.73% $4,788
PENTAGON FEDERAL CREDIT UNION 24 3.75% $6,399
GUILD MORTGAGE COMPANY 23 4.93% $9,278
DRAPER AND KRAMER MORTGAGE CORP. 20 5.21% $9,914
CLEARPATH LENDING 20 3.93% $9,731
BROKER SOLUTIONS, INC. 19 4.41% $9,165
NATIONS RELIABLE LENDING, LLC 19 4.59% $8,180
First Horizon Bank 18 4.40% $9,714
Nations Lending Corporation 18 4.57% $5,838
Cross Keys Bank 18 4.77% $7,887
Equity Prime Mortgage LLC 17 5.74% $6,837
Gateway First Bank 17 4.98% $4,838
Goldwater Bank, N.A. 17 4.90% $8,521
SUMMIT FUNDING, INC. 17 4.92% $10,924
Trustmark National Bank 16 4.79% $6,810
BARKSDALE 16 4.62% $6,222
MID AMERICA MORTGAGE, INC. 15 5.11% $5,271
NATIONS DIRECT MORTGAGE, LLC 15 4.62% $12,950
MUTUAL OF OMAHA MORTGAGE, INC. 15 4.72% $8,266
MORTGAGE FINANCIAL SERVICES, LLC 14 4.70% $9,285
Regions Bank 13 5.08% $7,997
NTFN, INC. 13 4.52% $4,997
THE MORTGAGE FIRM, INC. 13 5.51% $9,027
Eagle Bank and Trust Company 12 4.80% $7,754
Lakeview Community Capital, LLC 12 3.03% $4,533
KEESLER 11 4.32% $5,777
Magnolia Bank 11 4.45% $10,027
INTERLINC MORTGAGE SERVICES, LLC 11 5.18% $13,290
Armed Forces Bank 11 4.06% $6,871
Hancock Whitney Bank 11 3.94% $8,504
Home Federal Bank 10 4.65% $8,905
FirstTrust Home Loans, Inc. 10 4.33% $8,754
ANGEL OAK HOME LOANS LLC 10 4.20% $7,247
BNC National Bank 9 4.29% $10,888
PLAZA HOME MORTGAGE, INC. 9 5.44% $8,430
NBKC BANK 9 4.61% $9,252
BancorpSouth Bank 9 4.68% $6,873
Bank of England 9 4.79% $6,397
AMERICAN FINANCIAL RESOURCES, INC. 9 4.93% $7,349
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 3.69% $12,838
Low VA Rates, LLC 8 4.03% $9,001
America's Mortgage Resource, Inc. 8 5.58% $10,450
FIRST COMMUNITY MORTGAGE, INC. 8 4.31% $10,017
AMCAP MORTGAGE, LTD. 8 5.33% $7,051
West Town Bank & Trust 8 4.44% $11,787
T2 FINANCIAL LLC 8 4.98% $11,530
First Option Mortgage, LLC 7 4.46% $12,362
The Central Trust Bank 7 4.23% $9,217
HOMESIDE FINANCIAL, LLC 7 5.59% $7,653
ACADEMY MORTGAGE CORPORATION 7 5.39% $7,938
SOUTHWEST STAGE FUNDING, LLC 7 4.91% $2,744
PIERREMONT MORTGAGE, INC. 7 4.11% $8,960
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 4.81% $7,097
First Federal Bank 6 5.31% $5,870
Paramount Residential Mortgage Group, Inc. 6 5.69% $13,977
CRESCENT MORTGAGE COMPANY 6 4.73% $9,582
THRIVE MORTGAGE, LLC 6 4.98% $8,946
North American Savings Bank, F.S.B. 6 3.81% $13,374
Wyndham Capital Mortgage, Inc. 5 3.98% $8,473
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 4.35% $9,527
NETWORK CAPITAL FUNDING CORPORATION 5 3.88% $11,740
AMERICAN PACIFIC MORTGAGE CORPORATION 5 5.65% $11,927
Republic State Mortgage Co. 5 4.65% $11,407
First Guaranty Mortgage Corporation 5 3.83% $4,717
Citizens National Bank, N.A. 5 3.63% $9,975
Wolfe Financial, Inc 5 4.85% $7,276
Plains Commerce Bank 5 4.28% $14,609
MORTGAGE ACCESS CORP. 5 4.65% $14,324
SECURITYNATIONAL MORTGAGE COMPANY 4 4.81% $10,986
TJC Mortgage, Inc. 4 4.66% $5,029
Network Funding, L.P. 4 5.19% $13,636
RELIANCE FIRST CAPITAL, LLC 4 5.06% $8,266
PREMIA MORTGAGE, LLC 4 4.25% $7,442
Sabine State Bank and Trust Company 4 4.59% $5,566
M&T Bank 4 3.56% $7,022
AMERICAN FINANCING CORPORATION 4 3.25% $6,488
EMM LOANS LLC 4 4.59% $6,853
Austin Capital Bank SSB 4 5.94% $10,266
FBT Mortgage, L.L.C. 3 3.79% $6,047
CHURCHILL MORTGAGE CORPORATION 3 5.63% $10,372
OCMBC, INC. 3 5.38% $5,265
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 6.67% $3,232
NP, Inc. 3 3.21% $5,796
NFM, INC. 3 4.58% $4,606
Century Next Bank 3 5.38% $6,020
HOMESTAR FINANCIAL CORPORATION 3 5.54% $7,260
TOWNE MORTGAGE COMPANY 3 4.58% $8,277
GSF Mortgage Corporation 3 4.29% $12,587
SUN WEST MORTGAGE COMPANY, INC. 3 4.75% $5,239
SWBC MORTGAGE CORPORATION 3 5.13% $9,165
Academy Bank 2 4.88% $7,904
AmRes Corporation 2 4.88% $10,055
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.69% $5,367
BankPlus 2 4.00% $2,935
BAYSHORE MORTGAGE FUNDING, LLC 2 4.87% $20,438
BOKF 2 4.38% $6,989
Capital Bank 2 5.88% $13,010
CONTOUR MORTGAGE CORPORATION 2 6.44% $9,273
Cornerstone First Mortgage, Inc 2 4.44% $12,791
FirstBank 2 3.63% $7,129
First Home Bank 2 5.44% $3,353
GENEVA FINANCIAL, LLC 2 5.63% $5,807
GUARANTEED RATE AFFINITY, LLC 2 5.01% $20,033
Hometown Equity Mortgage, LLC 2 4.50% $7,240
Hometown Lenders, Inc. 2 3.06% $9,491
MIDLAND MORTGAGE CORPORATION 2 5.25% $7,309
NBH Bank 2 5.56% $6,797
Northpointe Bank 2 4.75% $4,907
Paramount Bank 2 4.13% $12,786
RESIDENTIAL BANCORP. 2 2.94% $6,807
Sunflower Bank 2 6.19% $8,420
Texana Bank 2 3.94% $5,619
VAN DYK MORTGAGE CORPORATION 2 3.56% $4,937
Waterstone Mortgage Corporation 2 4.63% $8,970
ROSS MORTGAGE CORPORATION 1 5.75% $17,796
S1L, Inc. 1 5.75% $10,608
NexBank 1 3.75% $15,350
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.25% $16,191
Shamrock Home Loans, Inc. 1 4.25% $11,499
Southern First Bank 1 5.13% $3,064
Meridian Bank Corporation 1 4.50% $8,570
MEMBER FIRST MORTGAGE, LLC 1 3.75% $5,354
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $3,947
KELLER MORTGAGE, LLC 1 5.63% $3,000
Strong Home Mortgage, LLC 1 2.75% $10,936
Ixonia Bank 1 3.25% $13,226
Ameris Bank 1 5.13% $5,073
GSB MORTGAGE, INC. 1 3.38% $2,229
Great Southern Bank 1 3.25% $3,163
First Savings Bank 1 4.38% $4,350
AmeriHome Mortgage Company, LLC 1 6.50% $7,038
First National Bank 1 5.00% $7,574
First Internet Bank of Indiana 1 3.75% $7,670
The Huntington National Bank 1 3.75% $2,519
Exchange Bank 1 4.50% $9,441
The Union Bank Company 1 2.88% $15,161
EVERETT FINANCIAL, INC. 1 4.88% $2,192
EMBRACE HOME LOANS, INC. 1 5.75% $9,779
DELMAR FINANCIAL COMPANY 1 5.25% $14,343
Truist 1 6.25% $2,377
DAS Acquisition Company, LLC 1 5.25% $658
Community First National Bank 1 7.13% $5,744
CERTAINTY HOME LOANS, LLC 1 5.75% $9,275
Centennial Bank 1 4.50% $26,957
U.S. Bank 1 5.13% $19,631
US MORTGAGE CORPORATION 1 5.63% $12,731
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.50% $9,092
AMERICAN ADVISORS GROUP 1 4.25% $8,755
BAY EQUITY LLC 1 4.63% $12,203
ZILLOW HOME LOANS, LLC 1 5.75% $5,396
PNC Bank 1 5.13% $9,276
PHH Mortgage Corporation 1 4.63% $22,683
OPEN MORTGAGE, LLC 1 5.75% $9,552
ON Q FINANCIAL, INC. 1 2.75% $2,269
BankVista 1 4.50% $4,049

The top Louisiana VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,076 VA loans originated. Their average total fees are $6,331, which is $1,327 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Louisiana VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,687), Wells Fargo Bank ($3,805), Lakeview Community Capital, LLC ($4,533), MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,788) and Gateway First Bank ($4,838).

The lowest rate Louisiana VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC (3.03%), LAKEVIEW LOAN SERVICING, LLC (3.23%), PENNYMAC LOAN SERVICES, LLC (3.56%), PENTAGON FEDERAL CREDIT UNION (3.75%) and VILLAGE CAPITAL MORTGAGE (3.87%).

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.