Maine VA Loan Rates, Closing Costs & Stats
Maine
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.
Maine VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Maine
averaged
-0.25%
for the week of 2023-11-24, compared to the national average (all VA variants) of
0% for the same period.
Maine's average VA mortgage closing costs are $5,469.
The average rate for the prior week (2023-11-17) was
7.1% and
one month ago for the week of 2023-10-20, the
average rate was 7.33%.
The average rate one year ago was 6.24%.
For refis of the same type during the week of 2023-11-24, the average rate
was -0.98%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Maine 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 Maine level.
Name |
# of Loans |
2022 Avg. 30yFix Rate |
2022 Avg. Closing Costs |
Mortgage Research Center, LLC
|
411
|
5.14%
|
$5,788
|
QUICKEN LOANS, LLC
|
178
|
4.18%
|
$9,680
|
UNITED WHOLESALE MORTGAGE, LLC
|
124
|
4.83%
|
$8,301
|
NAVY FEDERAL CREDIT UNION
|
92
|
3.91%
|
$5,115
|
USAA Federal Savings Bank
|
80
|
4.56%
|
$7,441
|
GUILD MORTGAGE COMPANY
|
70
|
5.07%
|
$9,201
|
FREEDOM MORTGAGE CORPORATION
|
69
|
4.09%
|
$10,148
|
NEW DAY FINANCIAL, LLC
|
68
|
4.93%
|
$9,591
|
CMG MORTGAGE, INC.
|
65
|
4.65%
|
$9,230
|
PENNYMAC LOAN SERVICES, LLC
|
62
|
3.46%
|
$8,230
|
LOANDEPOT.COM, LLC
|
57
|
4.51%
|
$9,758
|
CALIBER HOME LOANS, INC.
|
51
|
4.65%
|
$8,253
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
47
|
4.68%
|
$6,985
|
Mr. Cooper ( Nationstar Mortgage )
|
38
|
4.33%
|
$8,614
|
LEADERONE FINANCIAL CORPORATION
|
32
|
5.11%
|
$6,574
|
The Federal Savings Bank
|
30
|
4.22%
|
$14,950
|
HOME POINT FINANCIAL CORPORATION
|
30
|
4.60%
|
$7,189
|
Bangor Savings Bank
|
25
|
4.13%
|
$6,658
|
CROSSCOUNTRY MORTGAGE, LLC
|
25
|
5.22%
|
$10,485
|
Barrington Bank & Trust Company, N.A.
|
24
|
4.76%
|
$8,196
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
23
|
4.66%
|
$10,012
|
The Camden National Bank
|
19
|
5.00%
|
$8,307
|
NEWREZ LLC
|
19
|
3.97%
|
$8,510
|
AMERISAVE MORTGAGE CORPORATION
|
18
|
4.11%
|
$9,246
|
TOTAL MORTGAGE SERVICES, LLC
|
16
|
5.27%
|
$8,559
|
Citizens Bank
|
16
|
3.80%
|
$8,096
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
15
|
4.72%
|
$6,133
|
Mortgage Network, Inc.
|
14
|
3.99%
|
$6,583
|
T2 FINANCIAL LLC
|
14
|
5.13%
|
$9,642
|
VILLAGE CAPITAL MORTGAGE
|
13
|
4.27%
|
$12,628
|
DAS Acquisition Company, LLC
|
13
|
4.46%
|
$5,105
|
EMBRACE HOME LOANS, INC.
|
12
|
4.81%
|
$5,781
|
LAKEVIEW LOAN SERVICING, LLC
|
11
|
3.26%
|
$5,648
|
BROKER SOLUTIONS, INC.
|
11
|
4.77%
|
$8,917
|
ACADEMY MORTGAGE CORPORATION
|
10
|
4.81%
|
$5,632
|
AMERICAN FINANCING CORPORATION
|
10
|
3.84%
|
$10,464
|
NORTHPOINT MORTGAGE, INC.
|
10
|
4.99%
|
$13,262
|
TD Bank
|
10
|
3.54%
|
$5,889
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
9
|
3.90%
|
$6,294
|
Flagstar Bank, FSB
|
9
|
4.45%
|
$9,977
|
Magnolia Bank
|
8
|
4.72%
|
$13,781
|
MOVEMENT MORTGAGE, LLC
|
8
|
5.02%
|
$6,823
|
MEGASTAR FINANCIAL CORP.
|
7
|
4.39%
|
$9,235
|
EVERETT FINANCIAL, INC.
|
7
|
4.16%
|
$7,135
|
CARDINAL FINANCIAL
|
7
|
5.36%
|
$14,023
|
Carrington Mortgage Services, LLC
|
6
|
4.40%
|
$11,423
|
Androscoggin Savings Bank
|
6
|
5.14%
|
$9,244
|
NORWICH COMMERCIAL GROUP, INC.
|
6
|
4.79%
|
$14,980
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
6
|
5.04%
|
$5,083
|
GUARANTEED RATE, INC.
|
6
|
5.02%
|
$5,151
|
Service Federal Credit Union
|
5
|
4.70%
|
$9,935
|
First National Bank
|
5
|
4.00%
|
$7,166
|
CONTOUR MORTGAGE CORPORATION
|
5
|
4.20%
|
$15,320
|
NBKC BANK
|
5
|
3.78%
|
$11,274
|
BNC National Bank
|
5
|
4.40%
|
$4,850
|
North American Savings Bank, F.S.B.
|
5
|
3.70%
|
$8,705
|
Wells Fargo Bank
|
5
|
3.35%
|
$6,072
|
PENTAGON FEDERAL CREDIT UNION
|
5
|
4.35%
|
$8,343
|
First Federal Bank
|
5
|
4.92%
|
$13,901
|
Mid-Continent Funding, Inc.
|
4
|
4.69%
|
$8,813
|
KeyBank
|
4
|
3.44%
|
$2,016
|
CUSO MORTGAGE CORPORATION
|
4
|
4.28%
|
$4,912
|
NP, Inc.
|
3
|
2.58%
|
$5,963
|
Texana Bank
|
3
|
3.75%
|
$10,202
|
Low VA Rates, LLC
|
3
|
4.21%
|
$22,157
|
ENVOY MORTGAGE, LTD
|
3
|
5.54%
|
$5,008
|
RELIANCE FIRST CAPITAL, LLC
|
3
|
5.29%
|
$13,411
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
3
|
5.00%
|
$6,556
|
EMM LOANS LLC
|
3
|
5.13%
|
$5,243
|
Nations Lending Corporation
|
3
|
4.88%
|
$12,467
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
3
|
5.42%
|
$4,887
|
Century Mortgage Company DBA Century Lending Company
|
2
|
2.81%
|
$11,955
|
INTEGRITY MORTGAGE LLC
|
2
|
5.75%
|
$9,307
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
2
|
5.25%
|
$7,478
|
M&T Bank
|
2
|
6.00%
|
$9,245
|
NBH Bank
|
2
|
4.44%
|
$2,275
|
First Savings Bank
|
2
|
3.19%
|
$14,041
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
2
|
5.06%
|
$5,966
|
NORTHEAST HOME LOAN, LLC
|
2
|
6.00%
|
$9,948
|
Northpointe Bank
|
2
|
3.31%
|
$7,649
|
American Mortgage & Equity Consultants, Inc.
|
2
|
5.25%
|
$2,156
|
Paramount Residential Mortgage Group, Inc.
|
2
|
6.44%
|
$9,280
|
Bath Savings Institution
|
2
|
5.18%
|
$10,109
|
Bank of England
|
2
|
4.50%
|
$7,065
|
Servion, Inc.
|
2
|
4.19%
|
$11,599
|
SUN WEST MORTGAGE COMPANY, INC.
|
2
|
5.06%
|
$21,160
|
ZILLOW HOME LOANS, LLC
|
2
|
5.63%
|
$10,842
|
The Central Trust Bank
|
2
|
5.00%
|
$9,159
|
MID AMERICA MORTGAGE, INC.
|
1
|
5.63%
|
$2,048
|
FINANCE OF AMERICA MORTGAGE LLC
|
1
|
4.50%
|
$7,642
|
PLANET HOME LENDING, LLC
|
1
|
3.25%
|
$2,133
|
HANSCOM
|
1
|
4.00%
|
$2,631
|
Prime Choice Funding Inc.
|
1
|
2.25%
|
$5,955
|
HARBORONE MORTGAGE, LLC
|
1
|
5.25%
|
$14,190
|
MICHIGAN MUTUAL, INC.
|
1
|
4.38%
|
$2,500
|
Equity Prime Mortgage LLC
|
1
|
5.25%
|
$8,430
|
RESIDENTIAL BANCORP
|
1
|
2.75%
|
$4,775
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
5.75%
|
$4,843
|
First Home Bank
|
1
|
3.13%
|
$6,035
|
Leader Bank
|
1
|
2.50%
|
$3,950
|
SIRVA MORTGAGE, INC.
|
1
|
5.63%
|
$4,089
|
HOMESPIRE MORTGAGE CORPORATION
|
1
|
3.25%
|
$16,023
|
Bank of America
|
1
|
6.63%
|
$5,306
|
LIBERTY HOME MORTGAGE CORPORATION
|
1
|
6.63%
|
$10,746
|
Community First National Bank
|
1
|
5.13%
|
$14,082
|
Austin Capital Bank SSB
|
1
|
5.63%
|
$9,613
|
Truist
|
1
|
5.10%
|
$13,806
|
BAY EQUITY LLC
|
1
|
5.13%
|
$6,253
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
1
|
5.25%
|
$5,629
|
Armed Forces Bank
|
1
|
4.25%
|
$2,162
|
NORTHERN MORTGAGE SERVICES, LLC
|
1
|
4.75%
|
$10,110
|
The Union Bank Company
|
1
|
2.75%
|
$4,177
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
1
|
5.63%
|
$9,334
|
Evolve Bank & Trust
|
1
|
5.13%
|
$12,571
|
NETWORK CAPITAL FUNDING CORPORATION
|
1
|
4.50%
|
$7,188
|
OCMBC, INC.
|
1
|
2.88%
|
$9,382
|
Ixonia Bank
|
1
|
5.25%
|
$15,082
|
The top Maine VA lender as defined by loan originations is Mortgage Research Center, LLC, with
411 VA loans originated. Their average total fees are
$5,788, which is $3,892
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Maine VA lenders (with over 10 loans originated) are
DAS Acquisition Company, LLC ($5,105), NAVY FEDERAL CREDIT UNION ($5,115), ACADEMY MORTGAGE CORPORATION ($5,632), LAKEVIEW LOAN SERVICING, LLC ($5,648) and EMBRACE HOME LOANS, INC. ($5,781).
The lowest rate Maine VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (3.26%), PENNYMAC LOAN SERVICES, LLC (3.46%), TD Bank (3.54%), Citizens Bank (3.80%) and AMERICAN FINANCING CORPORATION (3.84%).
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.