Mississippi VA Loan Rates, Closing Costs & Stats

Mississippi

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 6.3% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.51% and one month ago for the week of 2024-06-07, the average rate was 6.63%.

The average rate one year ago was 6.6%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.48%.

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.