Mississippi VA Loan Rates, Closing Costs & Stats

Mississippi

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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.

    Mississippi VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mississippi averaged 6.31% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Mississippi's average VA mortgage closing costs are $5,627.

    The average rate for the prior week (2024-12-06) was 6.25% and one month ago for the week of 2024-11-08, the average rate was 6.44%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.39%.

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

    Mississippi 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 Mississippi level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 815 6.78% $5,411
    QUICKEN LOANS, LLC 239 6.17% $9,872
    DHI MORTGAGE COMPANY, LTD. 205 5.19% $6,131
    NAVY FEDERAL CREDIT UNION 194 5.85% $5,780
    Trustmark National Bank 132 6.25% $6,322
    CMG MORTGAGE, INC. 115 6.50% $8,476
    USAA Federal Savings Bank 111 6.32% $8,622
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 109 6.54% $7,321
    PENNYMAC LOAN SERVICES, LLC 90 5.48% $7,055
    UNITED WHOLESALE MORTGAGE, LLC 86 6.61% $7,289
    NEW DAY FINANCIAL, LLC 85 7.48% $11,454
    CROSSCOUNTRY MORTGAGE, LLC 72 6.67% $5,965
    FREEDOM MORTGAGE CORPORATION 66 6.44% $13,769
    KEESLER 56 5.53% $6,571
    The Federal Savings Bank 48 6.37% $15,323
    Magnolia Bank 47 6.08% $13,112
    BancorpSouth 46 6.47% $8,463
    LOANDEPOT.COM, LLC 46 6.16% $11,109
    Mr. Cooper ( Nationstar Mortgage ) 46 6.02% $12,809
    MORTGAGE SOLUTIONS OF COLORADO, LLC 45 7.45% $4,493
    STOCKTON MORTGAGE CORPORATION 42 5.91% $9,679
    Regions Bank 41 6.24% $8,649
    Renasant Bank 38 6.36% $6,245
    GUARANTEED RATE, INC. 37 6.25% $3,980
    DSLD MORTGAGE, LLC 37 5.92% $5,208
    CARDINAL FINANCIAL 35 6.59% $10,493
    Flagstar Bank, FSB 34 6.68% $7,658
    COMMUNITY MORTGAGE CORPORATION 31 6.27% $9,652
    BROKER SOLUTIONS, INC. 30 6.64% $7,788
    SWBC MORTGAGE CORPORATION 29 6.37% $8,690
    Barrington Bank & Trust Company, N.A. 26 6.80% $8,605
    PLANET HOME LENDING, LLC 25 6.79% $10,369
    GMFS LLC 23 6.38% $6,159
    VILLAGE CAPITAL MORTGAGE 22 6.23% $9,304
    NBKC BANK 19 6.26% $7,311
    PRIMELENDING, A PLAINSCAPITAL COMPANY 18 6.93% $6,735
    Equity Prime Mortgage LLC 17 6.90% $9,342
    Bank of England 17 6.25% $9,617
    AMERISAVE MORTGAGE CORPORATION 17 6.03% $12,303
    Community Bank of Mississippi 16 6.47% $10,257
    PENTAGON FEDERAL CREDIT UNION 16 5.58% $6,105
    Nations Lending Corporation 16 6.88% $4,314
    NEWREZ LLC 15 6.68% $9,994
    MOVEMENT MORTGAGE, LLC 13 6.53% $9,330
    MORTGAGE INVESTORS GROUP, INC. 13 6.39% $8,496
    Merchants & Marine Bank 12 6.81% $6,772
    The Citizens National Bank of Meridian 12 6.64% $7,774
    OPEN MORTGAGE, LLC 12 6.58% $6,481
    MUTUAL OF OMAHA MORTGAGE, INC. 11 6.09% $10,715
    DRAPER AND KRAMER MORTGAGE CORP. 11 7.16% $8,919
    Mid-Continent Funding, Inc. 10 6.31% $7,329
    Eagle Bank and Trust Company 9 6.22% $9,268
    CORNERSTONE HOME LENDING, INC. 9 6.54% $7,278
    FIDELITY BANK 9 6.46% $7,581
    UNION HOME MORTGAGE CORP. 9 6.00% $10,697
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 9 7.18% $4,927
    Wells Fargo Bank 8 6.00% $5,217
    SUN WEST MORTGAGE COMPANY, INC. 8 6.32% $7,973
    Hancock Whitney Bank 8 6.38% $8,123
    ACOPIA, LLC 8 7.03% $5,898
    FIRST COMMUNITY MORTGAGE, INC. 8 6.84% $9,302
    CIS Financial Services, Inc. 8 6.42% $11,087
    PLAZA HOME MORTGAGE, INC. 8 6.47% $8,512
    Armed Forces Bank 7 6.05% $10,847
    FBC MORTGAGE, LLC 7 5.35% $5,363
    Plains Commerce Bank 7 6.16% $8,904
    First Horizon Bank 7 6.25% $6,461
    EUSTIS AND AMERICAN MORTGAGE COMPANY 6 7.52% $4,133
    Evolve Bank & Trust 6 6.67% $4,063
    ROYAL UNITED MORTGAGE LLC 6 6.96% $11,345
    Patriot Bank 6 6.29% $8,702
    Paramount Residential Mortgage Group, Inc. 6 6.21% $10,613
    U.S. Bank 6 6.31% $9,004
    TOWNE MORTGAGE COMPANY 5 6.25% $7,840
    EVERETT FINANCIAL, INC. 5 7.15% $5,996
    Citizens Bank 5 6.13% $8,498
    CONTOUR MORTGAGE CORPORATION 5 6.45% $15,006
    BARTLETT MORTGAGE, INC. 5 6.10% $5,160
    BankPlus 5 6.30% $5,814
    RELIANCE FIRST CAPITAL, LLC 5 6.35% $9,583
    LEADERONE FINANCIAL CORPORATION 5 6.85% $7,063
    SOUTHWEST STAGE FUNDING, LLC 5 6.25% $2,468
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.73% $5,593
    AMERICAN FINANCIAL NETWORK, INC. 4 6.59% $6,312
    Pinnacle Bank 4 6.25% $12,039
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 7.40% $4,978
    The Central Trust Bank 4 6.66% $5,485
    Assurance Financial Group, L.L.C. 4 6.87% $5,742
    GUARANTY HOME MORTGAGE CORPORATION 4 6.84% $5,829
    GUILD MORTGAGE COMPANY 4 6.06% $10,238
    JPMorgan Chase Bank 4 6.78% $1,619
    CRESCENT MORTGAGE COMPANY 3 5.29% $4,799
    BNC National Bank 3 5.75% $4,685
    DELMAR FINANCIAL COMPANY 3 7.58% $6,349
    FIRST COLONY MORTGAGE CORPORATION 3 6.79% $6,951
    First Federal Bank 3 7.00% $3,843
    GENEVA FINANCIAL, LLC 3 7.08% $4,062
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.50% $4,410
    LAKEVIEW LOAN SERVICING, LLC 3 6.12% $9,620
    North American Savings Bank, F.S.B. 3 6.17% $7,057
    Origin Bank 3 6.90% $5,976
    Presidential Bank, FSB 3 5.88% $13,680
    Northpointe Bank 2 6.25% $4,089
    Farmers Bank & Trust 2 5.69% $12,247
    TJC Mortgage, Inc. 2 5.81% $8,067
    Towne Bank 2 6.38% $7,087
    Lakeview Community Capital, LLC 2 6.44% $8,854
    PREMIA MORTGAGE, LLC 2 6.44% $4,807
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $5,973
    Arvest Bank 2 5.69% $9,933
    Ameris Bank 2 5.75% $5,107
    American Security Mortgage Corp. 2 6.19% $8,442
    SUMMIT FUNDING, INC. 2 5.75% $8,935
    Sunflower Bank 2 6.31% $13,532
    GUARANTEED RATE AFFINITY, LLC 2 6.31% $153
    CHURCHILL MORTGAGE CORPORATION 2 6.94% $3,966
    NBH Bank 2 6.75% $6,276
    Century Mortgage Company DBA Century Lending Company 2 6.12% $3,358
    FirstTrust Home Loans, Inc. 1 5.75% $24,447
    ZILLOW HOME LOANS, LLC 1 7.13% $499
    First Savings Bank 1 5.75% $13,472
    First Federal Bank, A FSB 1 5.75% $11,754
    EVANSVILLE TEACHERS 1 7.13% $13,342
    EMBRACE HOME LOANS, INC. 1 5.63% $13,186
    ACADEMY MORTGAGE CORPORATION 1 6.75% $13,913
    SIRVA MORTGAGE, INC. 1 6.75% $18,439
    Core Bank 1 6.63% $4,364
    STANDARD MORTGAGE CORPORATION 1 6.13% $3,346
    Community First National Bank 1 5.50% $7,734
    Stock Yards Bank & Trust Company 1 6.50% $3,703
    Colonial Savings, F.A. 1 5.75% $36,898
    Chambers Bank 1 6.63% $6,719
    CB&S Bank, Inc. 1 6.75% $4,697
    The Huntington National Bank 1 6.88% $5,747
    Capital Bank 1 6.63% $2,454
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $3,645
    Bank of America 1 6.38% $11,117
    VAN DYK MORTGAGE CORPORATION 1 7.25% $5,987
    American Mortgage & Equity Consultants, Inc. 1 7.25% $3,155
    Waterstone Mortgage Corporation 1 5.88% $10,971
    M&T Bank 1 5.63% $21,189
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.63% $12,919
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $3,306
    MORTGAGE ACCESS CORP. 1 5.63% $18,400
    LIBERTY HOME MORTGAGE CORPORATION 1 7.63% $8,329
    Neighborhood Loans, Inc. 1 7.50% $5,819
    NETWORK CAPITAL FUNDING CORPORATION 1 6.63% $1,414
    Ixonia Bank 1 5.88% $21,085
    NFM, INC. 1 6.63% $7,843
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.13% $6,064
    Independent Bank 1 7.13% $6,428
    Wolfe Financial, Inc 1 7.00% $16,014
    Paramount Bank 1 6.25% $9,184
    Hometown Equity Mortgage, LLC 1 6.25% $4,828
    Hamilton Mortgage Corporation 1 6.50% $8,376
    Gulf Coast Community Federal Credit Union 1 6.63% $5,970
    Gulf Coast Bank and Trust Company 1 6.25% $17,659
    GSF Mortgage Corporation 1 6.75% $5,133
    FLAT BRANCH MORTGAGE, INC. 1 7.63% $3,168

    The top Mississippi VA lender as defined by loan originations is Mortgage Research Center, LLC, with 815 VA loans originated. Their average total fees are $5,411, which is $4,461 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Mississippi VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($3,980), Nations Lending Corporation ($4,314), MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,493), DSLD MORTGAGE, LLC ($5,208) and Mortgage Research Center, LLC ($5,411).

    The lowest rate Mississippi VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.19%), PENNYMAC LOAN SERVICES, LLC (5.48%), KEESLER (5.53%), PENTAGON FEDERAL CREDIT UNION (5.58%) and NAVY FEDERAL CREDIT UNION (5.85%).

    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.