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 6.2% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Tennessee's average VA mortgage closing costs are $5,913.

    The average rate for the prior week (2023-05-19) was 6.13% and one month ago for the week of 2023-04-21, the average rate was 6.05%.

    The average rate one year ago was 4.82%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.15%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 2,785 4.91% $7,295
    QUICKEN LOANS, LLC 1,210 4.24% $10,936
    UNITED WHOLESALE MORTGAGE, LLC 802 4.38% $9,555
    FREEDOM MORTGAGE CORPORATION 718 4.25% $10,964
    NAVY FEDERAL CREDIT UNION 622 3.98% $7,412
    PENNYMAC LOAN SERVICES, LLC 582 3.61% $10,176
    LOANDEPOT.COM, LLC 449 4.22% $10,793
    NEW DAY FINANCIAL, LLC 422 5.01% $11,665
    USAA Federal Savings Bank 381 4.39% $7,939
    MORTGAGE INVESTORS GROUP, INC. 357 4.73% $6,937
    FIRST COMMUNITY MORTGAGE, INC. 285 4.55% $7,947
    CMG MORTGAGE, INC. 264 4.96% $11,986
    GUARANTEED RATE, INC. 258 4.55% $8,273
    MOVEMENT MORTGAGE, LLC 229 4.70% $7,317
    DHI MORTGAGE COMPANY, LTD. 214 4.32% $7,289
    CROSSCOUNTRY MORTGAGE, LLC 194 5.15% $10,458
    CARDINAL FINANCIAL 194 5.01% $12,255
    The Federal Savings Bank 179 4.71% $14,726
    Mr. Cooper ( Nationstar Mortgage ) 178 4.64% $10,330
    F&M Bank 166 4.28% $9,863
    Flagstar Bank, FSB 159 4.60% $10,866
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 157 4.55% $7,214
    CALIBER HOME LOANS, INC. 146 4.58% $10,112
    HOME POINT FINANCIAL CORPORATION 140 4.24% $8,869
    COMMUNITY MORTGAGE CORPORATION 136 4.65% $10,497
    AMERISAVE MORTGAGE CORPORATION 129 4.24% $12,233
    MORTGAGE SOLUTIONS OF COLORADO, LLC 128 5.29% $8,071
    BROKER SOLUTIONS, INC. 123 4.67% $10,137
    Carrington Mortgage Services, LLC 112 4.75% $10,996
    PENTAGON FEDERAL CREDIT UNION 108 3.77% $7,848
    FirstBank 107 4.53% $8,368
    LAKEVIEW LOAN SERVICING, LLC 105 3.35% $5,204
    VILLAGE CAPITAL MORTGAGE 98 4.08% $8,090
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 91 4.77% $8,844
    NEWREZ LLC 84 4.40% $9,906
    CLEARPATH LENDING 81 4.03% $12,717
    UNION HOME MORTGAGE CORP. 78 4.50% $11,454
    Wells Fargo Bank 75 4.29% $7,274
    VAN DYK MORTGAGE CORPORATION 73 4.74% $9,477
    NVR Mortgage Finance, Inc. 72 4.02% $8,235
    Regions Bank 71 4.63% $8,611
    STOCKTON MORTGAGE CORPORATION 71 4.95% $11,431
    Barrington Bank & Trust Company, N.A. 69 4.66% $6,608
    SOUTHWEST FUNDING, LP 67 5.31% $14,186
    SWBC MORTGAGE CORPORATION 64 4.76% $8,512
    Legacy Home Loans, LLC 64 4.59% $10,057
    PLANET HOME LENDING, LLC 64 4.48% $8,934
    AMERICAN PACIFIC MORTGAGE CORPORATION 64 4.75% $12,155
    MUTUAL OF OMAHA MORTGAGE, INC. 62 4.22% $9,351
    First Horizon Bank 62 4.20% $7,191
    Northpointe Bank 61 4.21% $10,365
    U.S. Bank 61 4.50% $7,487
    Mid-Continent Funding, Inc. 60 4.86% $8,704
    ACOPIA, LLC 58 4.85% $7,326
    CHURCHILL MORTGAGE CORPORATION 55 4.67% $13,119
    Patriot Bank 54 4.52% $9,719
    AMERICAN MORTGAGE SERVICE COMPANY 53 4.54% $8,483
    Bank of England 49 4.55% $10,643
    VANDERBILT MORTGAGE AND FINANCE, INC. 46 4.42% $10,730
    NFM, INC. 44 5.37% $10,679
    Nations Lending Corporation 44 5.14% $10,182
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 43 4.94% $11,037
    GUILD MORTGAGE COMPANY 43 4.39% $8,780
    PRIMARY RESIDENTIAL MORTGAGE, INC. 41 4.67% $10,198
    North American Savings Bank, F.S.B. 39 3.90% $10,629
    EVERETT FINANCIAL, INC. 38 5.39% $7,919
    RELIANCE FIRST CAPITAL, LLC 37 4.81% $7,941
    CapStar Bank 37 4.29% $13,013
    Renasant Bank 36 4.37% $11,008
    Pinnacle Bank 35 4.74% $10,661
    INTERLINC MORTGAGE SERVICES, LLC 34 4.99% $10,024
    Magnolia Bank 34 4.29% $14,325
    TJC Mortgage, Inc. 33 4.17% $10,613
    DAS Acquisition Company, LLC 32 4.91% $9,749
    Citizens Bank 32 4.48% $8,700
    HOMESIDE FINANCIAL, LLC 31 5.06% $9,199
    Sierra Pacific Mortgage Company, Inc. 31 4.46% $10,854
    Equity Prime Mortgage LLC 31 5.29% $9,834
    SUCCESS MORTGAGE PARTNERS, INC. 29 5.01% $9,151
    EAGLE HOME MORTGAGE, LLC 29 4.53% $5,358
    The Home Loan Expert LLC 29 4.75% $9,646
    PRIMELENDING, A PLAINSCAPITAL COMPANY 28 4.76% $9,951
    T2 FINANCIAL LLC 28 5.05% $10,996
    GUARANTY HOME MORTGAGE CORPORATION 27 4.17% $6,706
    NBKC BANK 27 4.00% $9,699
    United Community Bank 27 4.83% $7,995
    Gateway First Bank 27 4.87% $9,826
    Truist 26 4.05% $6,461
    BARTLETT MORTGAGE, INC. 25 4.55% $9,106
    HANCOCK MORTGAGE PARTNERS, LLC 25 5.28% $10,816
    SECURITYNATIONAL MORTGAGE COMPANY 25 4.97% $9,842
    The First National Bank of Middle Tennessee 24 4.46% $10,435
    Wolfe Financial, Inc 23 4.99% $8,887
    Texana Bank 23 4.29% $11,103
    First Guaranty Mortgage Corporation 23 3.82% $7,900
    Ameris Bank 23 4.72% $10,057
    Low VA Rates, LLC 23 3.98% $14,867
    AMCAP MORTGAGE, LTD. 22 5.13% $9,730
    Fortera Federal Credit Union 22 4.42% $6,494
    The Central Trust Bank 22 3.74% $9,721
    HOMEBRIDGE FINANCIAL SERVICES, INC. 21 4.48% $7,907
    SOVEREIGN LENDING GROUP INCORPORATED 20 4.14% $11,572
    PULTE MORTGAGE LLC 20 5.00% $6,752
    Paramount Residential Mortgage Group, Inc. 20 4.71% $10,157
    CONTOUR MORTGAGE CORPORATION 19 4.43% $10,143
    Century Mortgage Company DBA Century Lending Company 19 4.64% $8,265
    Countybank 18 4.37% $7,205
    INSPIRE HOME LOANS INC. 18 4.55% $12,012
    Legends Bank 18 4.78% $8,237
    SeaTrust Mortgage Company 17 5.76% $7,482
    Evolve Bank & Trust 16 4.56% $9,415
    BancorpSouth Bank 16 4.80% $10,170
    Simmons Bank 16 5.02% $6,885
    AMERICAN FINANCIAL RESOURCES, INC. 16 5.37% $7,683
    SOUTHWEST STAGE FUNDING, LLC 16 4.54% $1,632
    BAY EQUITY LLC 16 5.39% $11,636
    Hometown Lenders, Inc. 16 4.77% $10,846
    Armed Forces Bank 15 3.96% $10,098
    BNC National Bank 15 3.99% $13,236
    SUN WEST MORTGAGE COMPANY, INC. 15 4.93% $7,179
    AMERICAN FINANCING CORPORATION 15 3.82% $9,285
    First Federal Bank 14 3.83% $9,854
    First Federal Bank 14 4.30% $11,171
    INTERCOASTAL MORTGAGE COMPANY 14 4.30% $13,027
    THE MORTGAGE FIRM, INC. 14 5.35% $9,523
    ROSS MORTGAGE CORPORATION 14 6.10% $11,457
    NATIONS DIRECT MORTGAGE, LLC 14 4.78% $8,049
    Leaders Credit Union 14 5.08% $3,793
    EASTMAN 14 4.71% $6,563
    FINANCE OF AMERICA MORTGAGE LLC 14 4.75% $8,350
    Wyndham Capital Mortgage, Inc. 14 3.65% $8,632
    LADERA LENDING, INC. 14 4.48% $11,163
    First Citizens National Bank 14 4.04% $3,605
    NETWORK CAPITAL FUNDING CORPORATION 13 4.16% $7,219
    POLARIS HOME FUNDING CORP. 13 4.30% $10,464
    First Vision Bank of Tennessee 13 4.63% $6,619
    Colten Mortgage, LLC 13 4.78% $9,712
    Strong Home Mortgage, LLC 12 3.78% $9,728
    Bank of Tennessee 11 4.53% $13,054
    THRIVE MORTGAGE, LLC 10 5.85% $8,667
    PLAZA HOME MORTGAGE, INC. 10 4.34% $7,565
    Wilson Bank And Trust 10 4.06% $8,031
    Plains Commerce Bank 10 4.79% $6,003
    HOMESTAR FINANCIAL CORPORATION 10 5.05% $5,622
    EUSTIS AND AMERICAN MORTGAGE COMPANY 10 4.57% $10,171
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 10 5.15% $6,577
    CRESCENT MORTGAGE COMPANY 10 4.31% $6,774
    MILEND, INC. 9 6.14% $17,537
    LOANPAL, LLC 9 3.43% $11,870
    LAND HOME FINANCIAL SERVICES, INC. 9 5.19% $6,931
    JPMorgan Chase Bank 9 4.68% $7,093
    VERITAS FUNDING, LLC 8 4.80% $16,292
    SUMMIT FUNDING, INC. 8 5.33% $13,762
    1ST SIGNATURE LENDING, LLC 8 5.05% $13,405
    REDSTONE Federal Credit Union 8 5.00% $13,279
    Bell Bank 8 5.00% $7,374
    HomePromise Corporation 7 5.45% $13,385
    Waterstone Mortgage Corporation 7 5.34% $11,155
    First Option Mortgage, LLC 7 4.30% $9,881
    PHH Mortgage Corporation 7 4.50% $7,180
    ROYAL UNITED MORTGAGE LLC 7 5.07% $10,026
    Amerifirst Financial, Inc. 7 4.25% $10,869
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 5.07% $6,271
    ZILLOW HOME LOANS, LLC 7 5.52% $9,496
    Paramount Bank 7 5.57% $7,465
    EMBRACE HOME LOANS, INC. 7 4.55% $8,027
    ALTRA 7 4.52% $8,395
    CANOPY MORTGAGE, LLC 7 4.89% $11,003
    Independent Bank 6 4.52% $8,022
    NP, Inc. 6 2.67% $5,264
    KELLEY MORTGAGE, LLC 6 4.50% $2,615
    Trustmark National Bank 6 4.35% $9,004
    Sunflower Bank 6 4.43% $14,151
    RESIDENTIAL BANCORP. 6 4.37% $8,276
    CORNERSTONE HOME LENDING, INC. 6 4.60% $6,620
    GSF Mortgage Corporation 6 5.25% $9,688
    CALCON MUTUAL MORTGAGE LLC 6 4.42% $11,108
    Fifth Third Bank 6 4.52% $8,234
    MEMBER FIRST MORTGAGE, LLC 6 3.88% $9,960
    Meridian Bank Corporation 6 3.79% $13,301
    First Savings Bank 6 3.92% $16,466
    Austin Capital Bank SSB 6 4.58% $8,043
    ALAMEDA MORTGAGE CORPORATION 5 5.75% $15,453
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 5 4.40% $8,963
    SHELTER LENDING SERVICES, L.L.C. 5 3.95% $5,189
    LEADERONE FINANCIAL CORPORATION 5 4.68% $7,285
    PREMIA MORTGAGE, LLC 5 3.73% $10,563
    Prime Choice Funding Inc. 5 3.15% $9,109
    NATIONWIDE MORTGAGE BANKERS, INC. 5 3.88% $9,078
    M&T Bank 5 4.70% $8,076
    Atlantic Union Bank 5 4.83% $12,936
    TOP FLITE FINANCIAL, INC. 5 4.78% $19,481
    KELLER MORTGAGE, LLC 4 4.59% $6,654
    ACADEMY MORTGAGE CORPORATION 4 5.09% $9,225
    AMERICAN ADVISORS GROUP 4 5.06% $6,659
    ASCEND FEDERAL CREDIT UNION 4 4.16% $4,669
    CASTLE & COOKE MORTGAGE, LLC 4 4.56% $12,892
    CHERRY CREEK MORTGAGE, LLC 4 3.78% $1,506
    Christensen Financial, Inc. 4 5.34% $5,048
    Community First National Bank 4 5.06% $12,258
    COMPASS MORTGAGE, INC. 4 4.90% $9,820
    EVANSVILLE TEACHERS 4 3.94% $9,681
    FIRST EQUITY MORTGAGE INCORPORATED 4 4.63% $12,593
    GUARANTEED RATE AFFINITY, LLC 4 4.04% $5,329
    Mutual Federal Bank 4 5.44% $12,008
    Princeton Mortgage Corporation 4 6.25% $9,225
    PROPER RATE, LLC 4 5.09% $11,830
    RANLIFE, INC. 4 4.56% $5,441
    RUOFF MORTGAGE COMPANY, INC. 4 5.16% $7,274
    S1L, Inc. 4 4.81% $5,595
    SmartBank 4 4.34% $4,533
    Capital Bank 3 4.71% $10,162
    NBH Bank 3 5.54% $5,008
    TOTAL MORTGAGE SERVICES, LLC 3 5.00% $8,663
    Citizens Tri-County Bank 3 4.83% $3,727
    FLAT BRANCH MORTGAGE, INC. 3 5.46% $10,782
    CERTAINTY HOME LOANS, LLC 3 5.12% $11,115
    CB&S Bank, Inc. 3 4.88% $3,605
    GUARANTY MORTGAGE SERVICES, L.L.C. 3 5.88% $5,674
    Loan Simple, Inc. 3 4.83% $9,079
    Synovus Bank 3 4.46% $19,213
    MID AMERICA MORTGAGE, INC. 3 6.08% $4,578
    Alcova Mortgage LLC 3 6.63% $8,078
    Lend Smart Mortgage, LLC 3 5.54% $16,962
    MORTGAGE FINANCIAL SERVICES, LLC 3 5.08% $15,489
    SIRVA MORTGAGE, INC. 3 4.67% $3,473
    GENEVA FINANCIAL, LLC 3 5.21% $20,641
    Ixonia Bank 3 6.63% $15,754
    Bank of America 3 5.08% $8,224
    NATIONS RELIABLE LENDING, LLC 3 4.67% $7,930
    TOWNE MORTGAGE COMPANY 2 4.31% $17,596
    BOKF 2 4.06% $13,120
    BELEM SERVICING LLC 2 3.38% $8,390
    BAYSHORE MORTGAGE FUNDING, LLC 2 2.63% $4,877
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 4.62% $12,759
    ISERVE RESIDENTIAL LENDING, LLC 2 4.13% $8,890
    Service Federal Credit Union 2 4.06% $7,624
    GVC MORTGAGE, INC. 2 6.25% $8,703
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.19% $12,352
    SHELTER HOME MORTGAGE, LLC 2 3.81% $17,527
    ANGEL OAK HOME LOANS LLC 2 5.31% $13,565
    AmRes Corporation 2 6.56% $11,450
    Willamette Valley Bank 2 3.69% $13,918
    AmeriHome Mortgage Company, LLC 2 5.81% $20,652
    OPEN MORTGAGE, LLC 2 4.75% $22,243
    George Mason Mortgage, LLC 2 4.75% $8,110
    Hometown Equity Mortgage, LLC 2 4.88% $6,272
    UNITED MORTGAGE CORP. 2 4.44% $13,282
    FEDEX EMPLOYEES CREDIT ASSOCIATION 2 4.31% $11,829
    Franklin Loan Corporation 2 5.63% $18,744
    Florida Capital Bank 2 4.94% $8,050
    ENDEAVOR CAPITAL, LLC. 2 4.56% $2,248
    HOMESTEAD FUNDING CORP. 2 3.75% $13,318
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 4.69% $6,712
    Eagle Bank and Trust Company 2 5.13% $10,423
    DELMAR FINANCIAL COMPANY 2 4.25% $8,715
    CU COMMUNITY, LLC 2 4.31% $5,376
    Credence Funding Corporation 2 2.88% $3,386
    MCLEAN MORTGAGE CORPORATION 2 3.25% $4,668
    1st National Bank 2 4.63% $7,056
    Home Federal Bank of Tennessee 2 4.19% $12,241
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 4.44% $3,733
    First Mortgage Solutions, LLC 2 3.94% $17,057
    TIDEWATER MORTGAGE SERVICES, INC. 2 5.06% $4,933
    Capital City Home Loans, LLC 2 3.81% $15,110
    Towne Bank 2 4.31% $5,821
    CityWorth Mortgage LLC 1 4.63% $16,598
    CHARTER WEST BANK 1 2.63% $11,569
    BECKAM FUNDING CORP. 1 6.75% $12,927
    UNITED HOME LOANS, INC. 1 3.25% $15,555
    BANKSOUTH MORTGAGE COMPANY, LLC 1 4.00% $16,906
    Atlantic Coast Mortgage, LLC 1 5.75% $17,177
    US COMMUNITY 1 4.88% $4,428
    US MORTGAGE CORPORATION 1 5.75% $10,232
    U S WIDE FINANCIAL LLC 1 4.75% $18,316
    Arvest Bank 1 2.88% $17,895
    Victorian Finance, LLC 1 2.99% $7,170
    V.I.P. MORTGAGE, INC. 1 5.50% $3,725
    Wallick & Volk, Inc. 1 4.75% $4,198
    MORTGAGEONE, INC. 1 5.25% $0
    AMERIFIRST FINANCIAL CORPORATION 1 6.25% $150
    MORTGAGE FINANCIAL GROUP, INC. 1 3.00% $5,378
    MYCUMORTGAGE, LLC 1 4.50% $3,309
    MORTGAGE ACCESS CORP. 1 3.25% $8,883
    MMS MORTGAGE SERVICES, LTD. 1 2.25% $3,299
    Midwest Community Bank 1 5.75% $17,140
    MIDLAND MORTGAGE CORPORATION 1 4.13% $6,784
    MICHIGAN MUTUAL, INC. 1 4.13% $5,975
    Network Funding, L.P. 1 5.25% $22,843
    LIBERTY HOME MORTGAGE CORPORATION 1 5.75% $14,175
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $15,744
    NORWICH COMMERCIAL GROUP, INC. 1 4.25% $1,107
    JMJ FINANCIAL GROUP 1 5.25% $13,077
    OCEANSIDE MORTGAGE COMPANY 1 3.25% $9,737
    Old National Bank 1 4.50% $9,367
    ON Q FINANCIAL, INC. 1 6.25% $731
    PANORAMA MORTGAGE GROUP, LLC 1 6.13% $11,187
    JMAC LENDING, INC. 1 4.50% $11,681
    JET DIRECT FUNDING CORP 1 3.25% $18,964
    INTERCAP LENDING INC. 1 6.00% $10,701
    Peoples Bank 1 5.13% $13,467
    IMPAC MORTGAGE CORP. 1 3.50% $9,802
    PILGRIM MORTGAGE LLC 1 3.50% $5,561
    Home Loan Investment Bank, F.S.B. 1 4.63% $6,300
    PNC Bank 1 3.75% $1,435
    HOMEAMERICAN MORTGAGE CORPORATION 1 4.13% $22,571
    Presidential Bank, FSB 1 4.63% $5,218
    Preston Home Loans Inc 1 7.13% $1,423
    Hamilton Mortgage Corporation 1 2.88% $2,985
    AMERICAN MORTGAGE SERVICES INCORPORATED 1 6.25% $280,302
    Prosperity Home Mortgage, LLC 1 4.75% $9,727
    GoPrime Mortgage, Inc. 1 5.63% $3,707
    AMERICAN HOME LENDING USA, LLC 1 6.13% $11,543
    Republic Bank & Trust Company 1 4.63% $9,534
    Flanagan State Bank 1 6.63% $14,350
    Residential Mortgage Solutions, Inc. 1 7.25% $10,189
    First United Bank and Trust Company 1 6.13% $30,932
    FirstTrust Home Loans, Inc. 1 5.50% $11,850
    WRIGHT-PATT CREDIT UNION, INC. 1 5.13% $650
    First International Bank & Trust 1 5.25% $2,460
    First Home Bank 1 4.13% $3,798
    Semper Home Loans, Inc. 1 2.88% $1,768
    ServisFirst Bank 1 4.00% $9,460
    First Federal Bank, A FSB 1 4.88% $6,577
    Shore United Bank 1 3.75% $17,731
    First Bank 1 5.25% $4,883
    FIDELITY BANK 1 6.38% $11,905
    Academy Bank 1 5.75% $2,225
    Southern First Bank 1 2.75% $2,000
    SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $8,141
    South State Bank 1 4.75% $11,308
    FBC MORTGAGE, LLC 1 5.50% $14,241
    ENVOY MORTGAGE, LTD 1 6.00% $12,472
    Stride Bank 1 4.75% $19,930
    Encompass Lending Group, LP 1 4.75% $4,475
    EMM LOANS LLC 1 4.63% $11,028
    Cornerstone First Mortgage, Inc 1 6.50% $4,490
    Core Bank 1 3.25% $7,354
    COMMUNITY MORTGAGE, LLC 1 3.25% $19,372

    The top Tennessee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2,785 VA loans originated. Their average total fees are $7,295, which is $3,641 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Tennessee VA lenders (with over 10 loans originated) are SOUTHWEST STAGE FUNDING, LLC ($1,632), First Citizens National Bank ($3,605), Leaders Credit Union ($3,793), LAKEVIEW LOAN SERVICING, LLC ($5,204) and EAGLE HOME MORTGAGE, LLC ($5,358).

    The lowest rate Tennessee VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.35%), PENNYMAC LOAN SERVICES, LLC (3.61%), Wyndham Capital Mortgage, Inc. (3.65%), The Central Trust Bank (3.74%) and PENTAGON FEDERAL CREDIT UNION (3.77%).

    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.