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
6.38%
for the week of 2024-11-01, compared to the national average (all VA variants) of
6.305% for the same period.
Maine's average VA mortgage closing costs are $5,744.
The average rate for the prior week (2024-10-25) was
6.64% and
one month ago for the week of 2024-09-27, the
average rate was 5.9%.
The average rate one year ago was 7.52%.
For refis of the same type during the week of 2024-11-01, the average rate
was 7.12%.
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 |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
278
|
6.82%
|
$5,422
|
QUICKEN LOANS, LLC
|
104
|
6.07%
|
$10,671
|
UNITED WHOLESALE MORTGAGE, LLC
|
104
|
6.58%
|
$8,875
|
GUILD MORTGAGE COMPANY
|
75
|
6.51%
|
$8,429
|
CMG MORTGAGE, INC.
|
71
|
6.73%
|
$11,512
|
USAA Federal Savings Bank
|
52
|
6.19%
|
$6,752
|
NAVY FEDERAL CREDIT UNION
|
50
|
6.00%
|
$6,287
|
NEWREZ LLC
|
33
|
6.61%
|
$9,525
|
NEW DAY FINANCIAL, LLC
|
32
|
7.46%
|
$11,377
|
LOANDEPOT.COM, LLC
|
30
|
6.30%
|
$11,860
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
30
|
6.58%
|
$8,295
|
FREEDOM MORTGAGE CORPORATION
|
28
|
6.56%
|
$17,659
|
LEADERONE FINANCIAL CORPORATION
|
27
|
6.99%
|
$6,663
|
Bangor Savings Bank
|
23
|
5.84%
|
$6,918
|
PENNYMAC LOAN SERVICES, LLC
|
22
|
5.69%
|
$9,611
|
The Camden National Bank
|
22
|
6.09%
|
$7,080
|
The Federal Savings Bank
|
20
|
6.39%
|
$17,735
|
Mr. Cooper ( Nationstar Mortgage )
|
17
|
5.87%
|
$15,071
|
DAS Acquisition Company, LLC
|
17
|
5.87%
|
$5,893
|
NORTHPOINT MORTGAGE, INC.
|
14
|
6.54%
|
$13,459
|
VILLAGE CAPITAL MORTGAGE
|
14
|
6.11%
|
$10,763
|
CALIBER HOME LOANS, INC.
|
12
|
6.18%
|
$10,472
|
NORWICH COMMERCIAL GROUP, INC.
|
10
|
6.43%
|
$4,189
|
T2 FINANCIAL LLC
|
9
|
7.24%
|
$11,101
|
CROSSCOUNTRY MORTGAGE, LLC
|
9
|
6.68%
|
$7,304
|
INTEGRITY MORTGAGE LLC
|
9
|
6.76%
|
$7,840
|
ENVOY MORTGAGE, LTD
|
9
|
6.92%
|
$10,693
|
MOVEMENT MORTGAGE, LLC
|
8
|
6.52%
|
$6,512
|
TOTAL MORTGAGE SERVICES, LLC
|
8
|
6.89%
|
$7,007
|
CUSO MORTGAGE CORPORATION
|
7
|
6.64%
|
$7,535
|
AMERISAVE MORTGAGE CORPORATION
|
7
|
6.16%
|
$14,300
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
7
|
6.80%
|
$8,255
|
ACADEMY MORTGAGE CORPORATION
|
6
|
6.17%
|
$4,710
|
Androscoggin Savings Bank
|
6
|
5.58%
|
$5,397
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
6
|
6.54%
|
$13,352
|
PENTAGON FEDERAL CREDIT UNION
|
6
|
5.52%
|
$8,585
|
Paramount Residential Mortgage Group, Inc.
|
6
|
6.46%
|
$9,488
|
KeyBank
|
6
|
6.81%
|
$3,678
|
RELIANCE FIRST CAPITAL, LLC
|
5
|
6.18%
|
$12,857
|
EMBRACE HOME LOANS, INC.
|
5
|
6.65%
|
$7,424
|
LAKEVIEW LOAN SERVICING, LLC
|
4
|
6.19%
|
$17,713
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
4
|
6.84%
|
$6,811
|
TD Bank
|
4
|
6.06%
|
$5,056
|
GUARANTEED RATE, INC.
|
4
|
6.47%
|
$12,528
|
HARBORONE MORTGAGE, LLC
|
4
|
6.56%
|
$9,049
|
Flagstar Bank, FSB
|
4
|
6.59%
|
$8,982
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.13%
|
$9,004
|
SUN WEST MORTGAGE COMPANY, INC.
|
3
|
5.92%
|
$5,976
|
First Savings Bank
|
3
|
5.88%
|
$13,481
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
3
|
6.33%
|
$6,693
|
GUARANTEED RATE AFFINITY, LLC
|
3
|
7.53%
|
$4,926
|
Equity Prime Mortgage LLC
|
3
|
6.58%
|
$9,304
|
AMERICAN FINANCING CORPORATION
|
3
|
6.29%
|
$10,066
|
POLARIS HOME FUNDING CORP.
|
3
|
6.83%
|
$13,351
|
NBKC BANK
|
3
|
5.88%
|
$10,589
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
3
|
7.42%
|
$4,593
|
First National Bank
|
3
|
5.50%
|
$5,761
|
Wells Fargo Bank
|
2
|
5.88%
|
$3,615
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
2
|
6.25%
|
$9,081
|
Armed Forces Bank
|
2
|
5.44%
|
$27,029
|
Century Mortgage Company DBA Century Lending Company
|
2
|
6.38%
|
$3,064
|
Citizens Bank
|
2
|
5.75%
|
$18,595
|
CONTOUR MORTGAGE CORPORATION
|
2
|
7.44%
|
$11,746
|
EMM LOANS LLC
|
2
|
6.44%
|
$25,202
|
EVERETT FINANCIAL, INC.
|
2
|
6.63%
|
$10,009
|
Mid-Continent Funding, Inc.
|
2
|
6.88%
|
$5,054
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
2
|
7.44%
|
$11,746
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
2
|
6.56%
|
$9,987
|
NBH Bank
|
2
|
5.75%
|
$7,166
|
NORTHEAST HOME LOAN, LLC
|
2
|
7.38%
|
$9,321
|
NORTHERN MORTGAGE SERVICES, LLC
|
2
|
7.19%
|
$5,817
|
PLANET HOME LENDING, LLC
|
2
|
7.13%
|
$27,795
|
RADIUS FINANCIAL GROUP INC.
|
2
|
7.38%
|
$13,829
|
Servion, Inc.
|
2
|
6.63%
|
$10,305
|
Shamrock Home Loans, Inc.
|
2
|
6.88%
|
$8,102
|
Waterstone Mortgage Corporation
|
2
|
6.13%
|
$7,549
|
Presidential Bank, FSB
|
1
|
7.13%
|
$7,746
|
M&T Bank
|
1
|
7.50%
|
$3,412
|
MEGASTAR FINANCIAL CORP.
|
1
|
4.95%
|
$5,023
|
Prosperity Home Mortgage, LLC
|
1
|
6.13%
|
$9,871
|
Home Loan Investment Bank, F.S.B.
|
1
|
7.49%
|
$9,531
|
American Mortgage & Equity Consultants, Inc.
|
1
|
7.25%
|
$4,053
|
GUARANTY HOME MORTGAGE CORPORATION
|
1
|
5.75%
|
$7,744
|
Service Federal Credit Union
|
1
|
6.63%
|
$2,940
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
7.00%
|
$12,058
|
ALLIED MORTGAGE GROUP, INC.
|
1
|
6.63%
|
$22,603
|
First Federal Bank
|
1
|
6.75%
|
$9,832
|
First Bank
|
1
|
6.63%
|
$13,278
|
Extraco Banks
|
1
|
6.25%
|
$20,951
|
Community First National Bank
|
1
|
6.25%
|
$3,666
|
The Central Trust Bank
|
1
|
5.25%
|
$15,453
|
CARDINAL FINANCIAL
|
1
|
6.75%
|
$14,172
|
BROKER SOLUTIONS, INC.
|
1
|
6.25%
|
$9,117
|
Northpointe Bank
|
1
|
6.63%
|
$10,939
|
Plains Commerce Bank
|
1
|
5.75%
|
$4,683
|
BNC National Bank
|
1
|
5.63%
|
$20,620
|
North American Savings Bank, F.S.B.
|
1
|
5.75%
|
$2,703
|
PREMIA MORTGAGE, LLC
|
1
|
6.25%
|
$5,069
|
The top Maine VA lender as defined by loan originations is Mortgage Research Center, LLC, with
278 VA loans originated. Their average total fees are
$5,422, which is $5,249
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Maine VA lenders (with over 10 loans originated) are
NORWICH COMMERCIAL GROUP, INC. ($4,189), Mortgage Research Center, LLC ($5,422), DAS Acquisition Company, LLC ($5,893), NAVY FEDERAL CREDIT UNION ($6,287) and LEADERONE FINANCIAL CORPORATION ($6,663).
The lowest rate Maine VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.69%), Bangor Savings Bank (5.84%), Mr. Cooper ( Nationstar Mortgage ) (5.87%), DAS Acquisition Company, LLC (5.87%) and NAVY FEDERAL CREDIT UNION (6.00%).
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.