Tennessee VA Loan Rates, Closing Costs & Stats

Tennessee

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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.

    Tennessee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Tennessee averaged 6.22% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Tennessee's average VA mortgage closing costs are $6,497.

    The average rate for the prior week (2025-03-28) was 6.44% and one month ago for the week of 2025-02-28, the average rate was 6.42%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.09%.

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

    Tennessee 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 Tennessee level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 2,557 6.33% $6,020
    UNITED WHOLESALE MORTGAGE, LLC 1,732 5.88% $8,276
    QUICKEN LOANS, LLC 949 6.02% $10,456
    FREEDOM MORTGAGE CORPORATION 750 6.16% $9,062
    PENNYMAC LOAN SERVICES, LLC 539 5.72% $8,808
    NAVY FEDERAL CREDIT UNION 471 5.89% $6,264
    GUARANTEED RATE, INC. 418 6.07% $6,249
    CMG MORTGAGE, INC. 327 6.23% $12,027
    DHI MORTGAGE COMPANY, LTD. 279 5.64% $6,731
    VILLAGE CAPITAL MORTGAGE 279 5.77% $7,185
    MORTGAGE INVESTORS GROUP, INC. 276 6.14% $7,523
    USAA Federal Savings Bank 271 6.14% $7,638
    MOVEMENT MORTGAGE, LLC 247 6.24% $8,713
    NEW DAY FINANCIAL, LLC 245 7.49% $13,086
    FIRST COMMUNITY MORTGAGE, INC. 225 6.21% $9,173
    CROSSCOUNTRY MORTGAGE, LLC 214 6.36% $8,040
    NEWREZ LLC 204 5.98% $8,231
    LOANDEPOT.COM, LLC 198 5.93% $11,633
    BROKER SOLUTIONS, INC. 150 6.47% $10,635
    STOCKTON MORTGAGE CORPORATION 133 6.05% $9,685
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 125 6.36% $9,215
    MORTGAGE SOLUTIONS OF COLORADO, LLC 118 7.08% $5,375
    The Federal Savings Bank 110 6.22% $17,706
    PLANET HOME LENDING, LLC 110 5.82% $5,340
    LAKEVIEW LOAN SERVICING, LLC 106 5.77% $6,487
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 101 6.16% $8,520
    Mr. Cooper ( Nationstar Mortgage ) 100 6.19% $9,503
    FirstBank 97 6.29% $6,877
    Legacy Home Loans, LLC 95 6.18% $10,892
    UNION HOME MORTGAGE CORP. 89 6.30% $9,095
    Legends Bank 86 5.99% $11,540
    Carrington Mortgage Services, LLC 85 6.12% $10,701
    COMMUNITY MORTGAGE CORPORATION 84 6.18% $11,743
    Flagstar Bank, FSB 80 6.35% $7,969
    AMERICAN PACIFIC MORTGAGE CORPORATION 79 6.39% $10,924
    NVR Mortgage Finance, Inc. 79 5.94% $8,245
    VAN DYK MORTGAGE CORPORATION 73 6.29% $8,476
    SOUTHWEST FUNDING, LP 65 6.70% $7,108
    Barrington Bank & Trust Company, N.A. 62 6.42% $6,939
    MUTUAL OF OMAHA MORTGAGE, INC. 58 6.27% $16,417
    GERSHMAN INVESTMENT CORP. 58 5.88% $5,297
    CARDINAL FINANCIAL 58 6.77% $12,483
    CLEARPATH LENDING 54 5.78% $9,037
    SeaTrust Mortgage Company 52 6.31% $9,694
    Equity Prime Mortgage LLC 52 6.70% $9,540
    NBKC BANK 51 5.86% $7,058
    U.S. Bank 51 6.28% $8,619
    Magnolia Bank 49 5.83% $18,697
    EAGLE HOME MORTGAGE, LLC 49 4.83% $5,746
    ROSS MORTGAGE CORPORATION 48 6.05% $9,315
    PENTAGON FEDERAL CREDIT UNION 48 5.97% $9,788
    GUILD MORTGAGE COMPANY 45 6.39% $10,844
    VANDERBILT MORTGAGE AND FINANCE, INC. 44 5.83% $7,101
    AMERICAN FINANCIAL NETWORK, INC. 43 6.55% $8,968
    Leaders Credit Union 41 6.18% $6,932
    First Federal Bank 40 5.72% $6,996
    Pinnacle Bank 40 6.13% $10,530
    AMERISAVE MORTGAGE CORPORATION 38 5.75% $21,271
    AmeriHome Mortgage Company, LLC 37 6.20% $5,911
    CHURCHILL MORTGAGE CORPORATION 37 6.16% $9,855
    RELIANCE FIRST CAPITAL, LLC 35 6.59% $12,672
    Ameris Bank 35 6.34% $8,115
    Regions Bank 34 6.40% $9,319
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 32 6.46% $6,733
    The First National Bank of Middle Tennessee 32 6.12% $7,365
    HOMESIDE FINANCIAL, LLC 32 6.58% $14,168
    SWBC MORTGAGE CORPORATION 31 6.25% $4,791
    SUN WEST MORTGAGE COMPANY, INC. 31 5.87% $7,389
    Paramount Residential Mortgage Group, Inc. 30 6.55% $11,633
    Patriot Bank 30 6.03% $8,714
    Nations Lending Corporation 28 6.35% $11,326
    AMERICAN FINANCIAL RESOURCES, INC. 28 6.59% $5,833
    PRIMELENDING, A PLAINSCAPITAL COMPANY 27 6.33% $5,327
    PLAZA HOME MORTGAGE, INC. 27 5.98% $11,974
    Century Mortgage Company DBA Century Lending Company 26 6.11% $7,731
    Sierra Pacific Mortgage Company, Inc. 26 6.35% $9,712
    INSPIRE HOME LOANS INC. 26 5.39% $9,422
    EVERETT FINANCIAL, INC. 26 6.51% $8,438
    Gateway First Bank 25 6.63% $9,974
    BancorpSouth 24 6.27% $7,622
    First Horizon Bank 24 6.13% $8,024
    LOANPAL, LLC 22 5.73% $13,233
    PRIMARY RESIDENTIAL MORTGAGE, INC. 22 6.34% $8,501
    GVC MORTGAGE, INC. 22 6.48% $5,505
    PHH Mortgage Corporation 22 5.97% $7,157
    Truist 21 6.20% $6,900
    The Loan Store, Inc. 21 5.87% $9,862
    FIRST COLONY MORTGAGE CORPORATION 21 6.13% $9,344
    INTERCOASTAL MORTGAGE COMPANY 20 5.93% $8,186
    HOMEBRIDGE FINANCIAL SERVICES, INC. 20 6.54% $3,674
    T2 FINANCIAL LLC 19 6.17% $11,215
    CANOPY MORTGAGE, LLC 19 6.24% $18,355
    ISERVE RESIDENTIAL LENDING, LLC 18 6.15% $5,425
    Renasant Bank 18 6.21% $6,114
    Mid-Continent Funding, Inc. 18 5.96% $8,121
    Prosperity Home Mortgage, LLC 17 6.16% $7,485
    SUCCESS MORTGAGE PARTNERS, INC. 17 6.21% $11,328
    United Community Bank 17 6.29% $6,606
    SUMMIT FUNDING, INC. 17 6.17% $14,108
    NFM, INC. 17 6.33% $8,055
    Countybank 16 6.30% $6,409
    ALAMEDA MORTGAGE CORPORATION 16 6.73% $8,322
    Texana Bank 16 6.44% $13,320
    MILEND, INC. 16 6.47% $12,560
    ACOPIA, LLC 15 6.61% $7,577
    Plains Commerce Bank 15 6.28% $12,331
    Old National Bank 15 5.98% $4,779
    HOMEAMERICAN MORTGAGE CORPORATION 15 5.39% $6,040
    LEADERONE FINANCIAL CORPORATION 14 6.51% $10,708
    Fortera Federal Credit Union 14 6.13% $6,376
    First Citizens National Bank 13 6.07% $6,558
    DAS Acquisition Company, LLC 13 6.31% $4,710
    VERITAS FUNDING, LLC 13 6.50% $15,143
    PULTE MORTGAGE LLC 13 5.89% $5,995
    INTERLINC MORTGAGE SERVICES, LLC 12 6.20% $7,765
    Bank of England 12 6.39% $6,923
    BARTLETT MORTGAGE, INC. 12 6.26% $6,151
    Trustmark National Bank 12 6.18% $4,384
    TOWNE MORTGAGE COMPANY 12 6.53% $9,069
    Wolfe Financial, Inc 12 6.56% $11,225
    ALTRA 12 5.88% $6,638
    GoPrime Mortgage, Inc. 12 6.09% $7,097
    Simmons Bank 12 6.41% $4,974
    Ixonia Bank 12 6.44% $14,051
    Wells Fargo Bank 12 6.19% $6,319
    MORTGAGEONE, INC. 12 6.75% $5,446
    Evolve Bank & Trust 11 6.52% $7,627
    DELMAR FINANCIAL COMPANY 11 6.69% $4,242
    TJC Mortgage, Inc. 11 6.09% $11,281
    Citizens Bank 10 6.36% $13,607
    LADERA LENDING, INC. 10 6.21% $12,024
    ALLIED MORTGAGE GROUP, INC. 10 6.19% $6,634
    Fifth Third Bank 10 6.11% $4,524
    JPMorgan Chase Bank 9 6.23% $7,314
    Bank of Tennessee 9 6.12% $7,769
    PREMIA MORTGAGE, LLC 9 5.77% $7,927
    ABSOLUTE HOME MORTGAGE CORPORATION 9 6.89% $10,656
    EMBRACE HOME LOANS, INC. 9 6.04% $8,592
    EASTMAN 8 7.09% $4,516
    Bell Bank 8 6.38% $4,486
    M/I FINANCIAL, LLC 8 5.19% $22,347
    First Federal Bank 8 6.12% $7,515
    Citizens Tri-County Bank 8 6.23% $5,073
    FLAT BRANCH MORTGAGE, INC. 8 6.44% $9,723
    GUARANTY MORTGAGE SERVICES, L.L.C. 8 6.88% $7,646
    Northpointe Bank 8 6.03% $7,604
    Armed Forces Bank 8 5.95% $10,161
    Credence Funding Corporation 8 5.70% $7,975
    Cornerstone First Mortgage, Inc 8 6.34% $12,632
    GENEVA FINANCIAL, LLC 7 6.71% $16,316
    JET HOMELOANS, LLC 7 5.87% $8,755
    AMERICAN FINANCING CORPORATION 7 5.98% $18,400
    HomePromise Corporation 7 7.07% $4,043
    SECURITYNATIONAL MORTGAGE COMPANY 7 6.61% $10,753
    PREMIER MORTGAGE RESOURCES, L.L.C. 7 6.27% $11,267
    MID AMERICA MORTGAGE, INC. 7 6.93% $5,994
    SmartBank 7 5.98% $9,244
    SIRVA MORTGAGE, INC. 7 6.61% $5,354
    Waterstone Mortgage Corporation 7 6.80% $10,136
    Strong Home Mortgage, LLC 6 5.79% $4,628
    BAY EQUITY LLC 6 6.38% $7,423
    Wilson Bank And Trust 6 6.17% $10,015
    ALLIANT CREDIT UNION 6 5.60% $8,277
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.46% $11,032
    CASTLE & COOKE MORTGAGE, LLC 6 6.35% $8,614
    CORNERSTONE HOME LENDING, INC. 6 6.62% $7,499
    MORTGAGE ACCESS CORP. 6 6.10% $12,951
    ENVOY MORTGAGE, LTD 6 6.44% $13,001
    EMM LOANS LLC 6 6.54% $9,892
    SOUTHWEST STAGE FUNDING, LLC 6 5.96% $1,125
    CALCON MUTUAL MORTGAGE LLC 6 6.63% $7,381
    The Huntington National Bank 5 6.60% $11,896
    GUARANTEED RATE AFFINITY, LLC 5 5.81% $3,198
    FIRST EQUITY MORTGAGE INCORPORATED 5 5.83% $8,719
    TENNESSEE VALLEY 5 5.88% $7,773
    Independent Bank 5 6.25% $9,008
    EVANSVILLE TEACHERS 5 6.15% $8,886
    Sandy Spring Bank 5 6.05% $3,466
    ROYAL UNITED MORTGAGE LLC 5 5.90% $12,400
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 5 6.23% $6,496
    Midwest Mortgage Associates Corporation 5 6.55% $6,251
    1ST SIGNATURE LENDING, LLC 5 6.45% $11,103
    CapStar Bank 5 6.40% $10,424
    Capital City Home Loans, LLC 4 6.16% $11,150
    CONTOUR MORTGAGE CORPORATION 4 7.00% $9,415
    Presidential Bank, FSB 4 5.88% $5,417
    POLARIS HOME FUNDING CORP. 4 6.88% $8,910
    V.I.P. MORTGAGE, INC. 4 6.50% $9,404
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.50% $6,082
    LAND HOME FINANCIAL SERVICES, INC. 4 6.50% $7,414
    American Mortgage & Equity Consultants, Inc. 4 6.72% $13,331
    JMAC LENDING, INC. 4 6.16% $8,908
    GARDNER FINANCIAL SERVICES, LTD. 4 6.25% $12,158
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.78% $5,253
    Franklin Loan Corporation 4 6.00% $10,236
    GMFS LLC 4 6.53% $16,943
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 4 7.25% $3,965
    FirstTrust Home Loans, Inc. 4 6.44% $13,474
    ZILLOW HOME LOANS, LLC 3 6.58% $5,687
    Arvest Bank 3 6.58% $7,578
    BANKSOUTH MORTGAGE COMPANY, LLC 3 6.00% $8,187
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 6.08% $11,668
    COMPASS MORTGAGE, INC. 3 6.38% $10,959
    DIRECT MORTGAGE LOANS, LLC 3 5.71% $14,419
    Eagle Bank and Trust Company 3 6.00% $10,373
    ENDEAVOR CAPITAL, LLC. 3 6.29% $8,415
    Financial Federal Bank 3 6.04% $4,956
    Goldwater Bank, N.A. 3 8.21% $10,931
    HOMEOWNERS FINANCIAL GROUP USA, LLC 3 6.54% $6,479
    HOMESTEAD FUNDING CORP. 3 5.92% $1,201
    JMJ FINANCIAL GROUP 3 5.92% $6,695
    LOANFLIGHT LENDING, LLC 3 6.04% $4,393
    MICHIGAN MUTUAL, INC. 3 6.29% $4,928
    NATIONS DIRECT MORTGAGE, LLC 3 6.58% $10,482
    NETWORK CAPITAL FUNDING CORPORATION 3 6.21% $7,002
    North American Savings Bank, F.S.B. 3 6.00% $10,786
    NORWICH COMMERCIAL GROUP, INC. 3 6.42% $4,775
    ON Q FINANCIAL, INC. 3 5.92% $11,660
    Princeton Mortgage Corporation 3 6.04% $7,784
    RANLIFE, INC. 3 6.42% $12,657
    SOVEREIGN LENDING GROUP INCORPORATED 3 5.63% $15,024
    The Central Trust Bank 3 6.13% $15,958
    The Farmers Bank 3 5.96% $12,970
    TOP FLITE FINANCIAL, INC. 3 6.75% $5,425
    UNITED HOME LOANS, INC. 3 6.50% $12,965
    COMMUNITY MORTGAGE, LLC 2 6.63% $3,530
    S1L, Inc. 2 6.44% $8,402
    Sunflower Bank 2 6.06% $9,203
    GREENSTATE CREDIT UNION 2 6.31% $4,188
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.06% $5,469
    Integrity Home Mortgage Corp 2 6.38% $4,476
    AIR ACADEMY 2 5.56% $5,866
    FBC MORTGAGE, LLC 2 5.37% $3,215
    Farmers Bank & Trust 2 5.75% $3,640
    AMERICAN INTERNET MORTGAGE, INC. 2 5.25% $7,892
    Hometown Equity Mortgage, LLC 2 6.00% $13,883
    First Western Trust Bank 2 6.63% $10,007
    MORTGAGE FINANCIAL SERVICES, LLC 2 7.25% $15,035
    BAYSHORE MORTGAGE FUNDING, LLC 2 5.56% $6,472
    Semper Home Loans, Inc. 2 6.50% $13,639
    RESOURCE FINANCIAL SERVICES, INC. 2 5.62% $7,114
    MORIA DEVELOPMENT, INC. 2 5.81% $5,753
    MLD MORTGAGE INC. 2 6.50% $6,799
    Stride Bank 2 6.75% $6,040
    Total Media Management, LLC 2 7.12% $10,339
    FIRST HOME MORTGAGE CORPORATION 2 6.38% $13,045
    RUOFF MORTGAGE COMPANY, INC. 2 6.81% $4,690
    NORTHERN MORTGAGE SERVICES, LLC 2 5.94% $5,164
    CU COMMUNITY, LLC 2 6.50% $1,969
    First State Bank of St. Charles, Missouri 1 6.50% $5,023
    American Mortgage Bank, LLC 1 7.25% $23,817
    S&S Financial 1 5.99% $2,350
    Stifel Bank and Trust 1 5.25% $5,310
    First National Bank Texas 1 6.63% $11,988
    First Community Bank 1 6.00% $21,018
    First Bank 1 6.13% $2,209
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.75% $14,333
    Financial Funding Solutions, Inc. 1 6.63% $0
    FEDEX EMPLOYEES CREDIT ASSOCIATION 1 6.50% $5,823
    Alliance Credit Union 1 6.50% $16,576
    FAIRWAY FUNDING GROUP, INC. 1 6.75% $5,577
    ENCORE BANK 1 5.63% $4,724
    The Freedom Bank of Virginia 1 5.25% $4,947
    DIRECT MORTGAGE, CORP. 1 5.75% $3,727
    DIRECT LENDERS, LLC 1 4.99% $10,567
    DIRECTIONS EQUITY, LLC 1 6.38% $22,447
    Alcova Mortgage LLC 1 5.75% $19,615
    TOTAL MORTGAGE SERVICES, LLC 1 7.25% $11,430
    DATA MORTGAGE, INC. 1 5.75% $2,534
    Tyndall Federal Credit Union 1 5.75% $10,208
    CityWorth Mortgage LLC 1 7.50% $15,674
    Union Savings Bank 1 6.38% $3,728
    United Bank 1 6.13% $5,358
    City Lending Inc. 1 6.50% $12,163
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.75% $11,815
    CIS Financial Services, Inc. 1 6.63% $4,933
    CB&S Bank, Inc. 1 5.75% $6,139
    Capital Bank 1 5.75% $2,318
    US COMMUNITY 1 6.13% $5,883
    Blue Ridge Bank 1 6.63% $10,537
    Vellum Mortgage, Inc. 1 6.75% $6,050
    Bank of America 1 6.50% $5,517
    Victorian Finance, LLC 1 7.13% $0
    PILGRIM MORTGAGE LLC 1 6.12% $6,610
    Pacific Lending LLC 1 6.00% $16,043
    OPEN MORTGAGE, LLC 1 7.25% $150
    ONY GLO, INC. 1 7.13% $800
    POINT Mortgage 1 4.88% $19,321
    PREMIER LENDING, INC. 1 6.75% $3,846
    NJ LENDERS CORP. 1 6.13% $3,658
    NexBank 1 5.25% $4,850
    Network Funding, L.P. 1 7.13% $12,049
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $12,628
    NATION ONE MORTGAGE CORPORATION 1 6.63% $15,090
    AXIA FINANCIAL, LLC 1 5.75% $6,490
    NASA Federal Credit Union 1 5.50% $11,279
    M&T Bank 1 6.75% $4,783
    Atlantic Coast Mortgage, LLC 1 6.13% $6,666
    REDSTONE Federal Credit Union 1 6.50% $4,208
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.13% $12,964
    Republic Bank & Trust Company 1 5.13% $2,705
    Residential Acceptance Corporation 1 8.00% $15,626
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $7,001
    KELLEY MORTGAGE, LLC 1 6.25% $1,917
    INTERCAP LENDING INC. 1 6.00% $10,211
    Home Federal Bank of Tennessee 1 5.75% $5,907
    ServisFirst Bank 1 5.63% $15,920
    SFMC, LP 1 6.25% $9,157
    SHELTER LENDING SERVICES, L.L.C. 1 5.75% $2,906
    HALLMARK HOME MORTGAGE, LLC 1 7.13% $4,313
    GSF Mortgage Corporation 1 6.13% $15,532
    SOUTHERN TRUST MORTGAGE, LLC 1 5.63% $12,292
    South State Bank 1 6.13% $7,044

    The top Tennessee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2,557 VA loans originated. Their average total fees are $6,020, which is $2,256 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Tennessee VA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. ($3,674), DELMAR FINANCIAL COMPANY ($4,242), Trustmark National Bank ($4,384), Fifth Third Bank ($4,524) and DAS Acquisition Company, LLC ($4,710).

    The lowest rate Tennessee VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.83%), INSPIRE HOME LOANS INC. (5.39%), HOMEAMERICAN MORTGAGE CORPORATION (5.39%), DHI MORTGAGE COMPANY, LTD. (5.64%) and First Federal Bank (5.72%).

    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.