Tennessee VA Loan Rates, Closing Costs & Stats

Tennessee

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.64% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Tennessee's average VA mortgage closing costs are $6,255.

    The average rate for the prior week (2024-11-01) was 6.29% and one month ago for the week of 2024-10-04, the average rate was 5.52%.

    The average rate one year ago was 7.28%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.61%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 2,265 6.52% $6,460
    UNITED WHOLESALE MORTGAGE, LLC 751 6.25% $9,827
    QUICKEN LOANS, LLC 722 6.13% $11,804
    NAVY FEDERAL CREDIT UNION 455 5.76% $6,734
    PENNYMAC LOAN SERVICES, LLC 318 5.59% $9,936
    GUARANTEED RATE, INC. 287 6.18% $6,040
    CMG MORTGAGE, INC. 279 6.43% $12,140
    FREEDOM MORTGAGE CORPORATION 276 6.42% $15,329
    FIRST COMMUNITY MORTGAGE, INC. 250 6.17% $9,654
    USAA Federal Savings Bank 245 6.17% $9,310
    MORTGAGE INVESTORS GROUP, INC. 245 6.30% $7,635
    DHI MORTGAGE COMPANY, LTD. 215 5.72% $6,570
    MOVEMENT MORTGAGE, LLC 215 6.46% $8,838
    LOANDEPOT.COM, LLC 207 6.12% $13,421
    NEW DAY FINANCIAL, LLC 196 7.44% $13,579
    The Federal Savings Bank 166 6.24% $17,289
    CARDINAL FINANCIAL 134 6.47% $14,681
    CROSSCOUNTRY MORTGAGE, LLC 126 6.69% $8,988
    F&M Bank 116 5.87% $11,572
    COMMUNITY MORTGAGE CORPORATION 116 6.07% $12,169
    BROKER SOLUTIONS, INC. 106 6.40% $11,188
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 102 6.45% $9,752
    PENTAGON FEDERAL CREDIT UNION 88 5.54% $10,323
    FirstBank 86 6.19% $8,755
    STOCKTON MORTGAGE CORPORATION 85 6.39% $10,906
    MORTGAGE SOLUTIONS OF COLORADO, LLC 85 7.44% $5,446
    Mr. Cooper ( Nationstar Mortgage ) 84 5.96% $14,467
    Flagstar Bank, FSB 81 6.49% $9,374
    VILLAGE CAPITAL MORTGAGE 81 6.09% $10,352
    UNION HOME MORTGAGE CORP. 75 6.46% $10,514
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 70 6.60% $9,298
    NEWREZ LLC 67 6.37% $11,024
    AMERISAVE MORTGAGE CORPORATION 66 5.74% $19,398
    Regions Bank 62 6.14% $6,789
    NVR Mortgage Finance, Inc. 62 5.42% $8,348
    SeaTrust Mortgage Company 59 6.51% $10,511
    Legacy Home Loans, LLC 56 6.40% $10,473
    ROSS MORTGAGE CORPORATION 53 6.60% $11,057
    VAN DYK MORTGAGE CORPORATION 52 6.62% $7,327
    HOMESIDE FINANCIAL, LLC 51 6.42% $8,166
    AMERICAN PACIFIC MORTGAGE CORPORATION 49 6.36% $13,235
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 49 6.32% $7,942
    MUTUAL OF OMAHA MORTGAGE, INC. 47 6.27% $11,328
    Citizens Bank 47 6.35% $10,705
    THRIVE MORTGAGE, LLC 47 6.17% $11,886
    Equity Prime Mortgage LLC 46 6.88% $9,592
    U.S. Bank 46 6.10% $9,474
    Barrington Bank & Trust Company, N.A. 44 6.49% $8,922
    PLANET HOME LENDING, LLC 44 6.01% $8,068
    Paramount Residential Mortgage Group, Inc. 43 6.32% $9,833
    Legends Bank 42 6.20% $11,469
    SWBC MORTGAGE CORPORATION 42 6.16% $8,290
    Mid-Continent Funding, Inc. 40 6.24% $10,284
    CHURCHILL MORTGAGE CORPORATION 39 6.43% $13,132
    Patriot Bank 39 5.97% $8,812
    EAGLE HOME MORTGAGE, LLC 36 5.46% $4,738
    Renasant Bank 35 6.42% $9,472
    RELIANCE FIRST CAPITAL, LLC 35 6.63% $12,256
    Magnolia Bank 34 6.18% $16,079
    NBKC BANK 34 5.94% $6,243
    EVERETT FINANCIAL, INC. 33 6.93% $8,825
    LAKEVIEW LOAN SERVICING, LLC 32 5.89% $11,761
    ACOPIA, LLC 32 6.11% $9,008
    VANDERBILT MORTGAGE AND FINANCE, INC. 30 6.28% $8,459
    Pinnacle Bank 29 5.98% $10,906
    Wells Fargo Bank 25 5.92% $9,486
    SUN WEST MORTGAGE COMPANY, INC. 25 6.27% $11,703
    PRIMELENDING, A PLAINSCAPITAL COMPANY 24 6.46% $10,370
    Plains Commerce Bank 24 5.97% $11,077
    LEADERONE FINANCIAL CORPORATION 23 6.36% $12,322
    ISERVE RESIDENTIAL LENDING, LLC 23 6.59% $13,652
    GUILD MORTGAGE COMPANY 21 6.47% $12,569
    INTERLINC MORTGAGE SERVICES, LLC 21 6.74% $12,045
    CapStar Bank 20 6.38% $9,667
    ALAMEDA MORTGAGE CORPORATION 20 6.78% $10,141
    Nations Lending Corporation 20 6.54% $10,562
    Gateway First Bank 20 6.63% $7,721
    Sierra Pacific Mortgage Company, Inc. 20 6.53% $9,743
    PULTE MORTGAGE LLC 20 5.66% $9,597
    AMERICAN FINANCIAL NETWORK, INC. 18 6.63% $11,085
    Leaders Credit Union 18 6.74% $6,973
    AMCAP MORTGAGE, LTD. 18 6.57% $11,067
    Bank of England 17 6.38% $11,350
    PRIMARY RESIDENTIAL MORTGAGE, INC. 16 6.31% $10,022
    Truist 16 6.22% $5,608
    MILEND, INC. 16 6.78% $13,993
    First Horizon Bank 16 6.57% $6,956
    Wolfe Financial, Inc 15 6.49% $8,016
    Ameris Bank 15 6.16% $10,156
    VERITAS FUNDING, LLC 15 6.43% $17,600
    Trustmark National Bank 14 6.10% $8,333
    CORNERSTONE HOME LENDING, INC. 14 6.23% $11,728
    INSPIRE HOME LOANS INC. 14 5.37% $9,918
    United Community Bank 13 6.05% $9,613
    Prosperity Home Mortgage, LLC 12 6.69% $10,943
    LOANPAL, LLC 12 5.85% $15,929
    JPMorgan Chase Bank 12 6.13% $4,055
    TOWNE MORTGAGE COMPANY 12 6.98% $9,144
    Century Mortgage Company DBA Century Lending Company 12 6.26% $9,363
    SUCCESS MORTGAGE PARTNERS, INC. 12 6.12% $15,444
    SUMMIT FUNDING, INC. 12 6.57% $15,182
    BancorpSouth 12 6.33% $8,516
    First Federal Bank 12 6.28% $7,800
    FirstTrust Home Loans, Inc. 12 6.70% $9,424
    GERSHMAN INVESTMENT CORP. 12 6.73% $7,824
    CONTOUR MORTGAGE CORPORATION 11 6.73% $18,047
    The First National Bank of Middle Tennessee 11 6.15% $9,599
    Evolve Bank & Trust 11 6.32% $7,111
    DAS Acquisition Company, LLC 11 6.63% $7,797
    NFM, INC. 11 6.33% $9,787
    Simmons Bank 10 6.28% $9,315
    HomePromise Corporation 10 7.36% $11,655
    GVC MORTGAGE, INC. 10 6.44% $6,870
    GUARANTY MORTGAGE SERVICES, L.L.C. 10 6.84% $11,334
    BNC National Bank 9 5.40% $8,969
    Bank of Tennessee 9 6.05% $8,485
    CANOPY MORTGAGE, LLC 9 6.28% $14,095
    First Citizens National Bank 9 6.10% $6,661
    HOMEAMERICAN MORTGAGE CORPORATION 9 5.40% $4,077
    HOMEBRIDGE FINANCIAL SERVICES, INC. 9 6.76% $6,112
    MORTGAGEONE, INC. 9 7.22% $2,898
    Northpointe Bank 9 6.18% $6,687
    Wilson Bank And Trust 9 5.99% $8,314
    Fifth Third Bank 8 6.20% $4,125
    Armed Forces Bank 8 5.91% $12,782
    T2 FINANCIAL LLC 8 6.94% $11,118
    TJC Mortgage, Inc. 8 6.22% $13,877
    ACADEMY MORTGAGE CORPORATION 8 6.66% $5,543
    LADERA LENDING, INC. 8 6.67% $12,793
    AMERICAN FINANCIAL RESOURCES, INC. 8 6.86% $7,458
    NexBank 8 5.83% $5,517
    AMERICAN FINANCING CORPORATION 8 6.28% $11,285
    EMBRACE HOME LOANS, INC. 8 6.29% $10,202
    First Federal Bank 8 6.20% $10,642
    CASTLE & COOKE MORTGAGE, LLC 7 6.32% $16,163
    First Vision Bank of Tennessee 7 6.23% $13,136
    Waterstone Mortgage Corporation 7 6.05% $8,165
    GUARANTEED RATE AFFINITY, LLC 7 6.11% $10,040
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.32% $13,204
    SIRVA MORTGAGE, INC. 7 6.96% $4,864
    BARTLETT MORTGAGE, INC. 7 6.18% $9,112
    BAY EQUITY LLC 7 5.62% $9,559
    RUOFF MORTGAGE COMPANY, INC. 7 6.25% $7,797
    ROYAL UNITED MORTGAGE LLC 7 6.95% $10,975
    PLAZA HOME MORTGAGE, INC. 7 6.45% $9,623
    Franklin Loan Corporation 7 6.43% $13,313
    EUSTIS AND AMERICAN MORTGAGE COMPANY 7 6.96% $14,022
    COMPASS MORTGAGE, INC. 7 6.71% $14,642
    MID AMERICA MORTGAGE, INC. 7 6.68% $5,613
    Citizens Tri-County Bank 6 6.38% $6,467
    Independent Bank 6 7.00% $8,985
    Bell Bank 6 5.98% $8,170
    Carrington Mortgage Services, LLC 6 5.58% $4,306
    Fortera Federal Credit Union 6 6.63% $5,544
    THE MORTGAGE FIRM, INC. 6 6.08% $5,966
    TOP FLITE FINANCIAL, INC. 6 6.38% $14,355
    MANN FINANCIAL INC. 6 7.13% $7,551
    SOUTHWEST STAGE FUNDING, LLC 6 6.35% $2,144
    PREMIA MORTGAGE, LLC 6 5.90% $7,914
    FLAT BRANCH MORTGAGE, INC. 6 6.88% $6,025
    GUARANTY HOME MORTGAGE CORPORATION 6 6.58% $12,493
    EVANSVILLE TEACHERS 6 6.21% $9,462
    SECURITYNATIONAL MORTGAGE COMPANY 6 6.58% $13,375
    GoPrime Mortgage, Inc. 6 6.48% $7,984
    PHH Mortgage Corporation 5 6.22% $7,745
    FIRST COLONY MORTGAGE CORPORATION 5 7.23% $10,778
    EASTMAN 5 7.03% $6,040
    MEMBER FIRST MORTGAGE, LLC 5 6.13% $8,542
    MORTGAGE ACCESS CORP. 5 5.65% $11,973
    Countybank 5 6.73% $7,427
    NATIONS DIRECT MORTGAGE, LLC 5 6.58% $16,972
    CALIBER HOME LOANS, INC. 5 5.83% $14,134
    REDSTONE Federal Credit Union 5 6.05% $9,537
    1ST SIGNATURE LENDING, LLC 5 6.63% $11,448
    SOVEREIGN LENDING GROUP INCORPORATED 5 6.35% $15,451
    The Central Trust Bank 5 5.80% $11,969
    AmeriHome Mortgage Company, LLC 5 6.13% $11,417
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.32% $10,240
    HOMESTAR FINANCIAL CORPORATION 4 6.38% $2,050
    ASCEND FEDERAL CREDIT UNION 4 6.72% $4,654
    RESIDENTIAL HOME FUNDING CORP. 4 5.34% $9,345
    ABSOLUTE HOME MORTGAGE CORPORATION 4 7.31% $15,695
    The Loan Store, Inc. 4 6.37% $9,117
    Princeton Mortgage Corporation 4 6.63% $6,809
    Sunflower Bank 4 5.68% $9,410
    Strong Home Mortgage, LLC 4 6.69% $9,686
    ALTRA 4 5.84% $14,992
    Presidential Bank, FSB 4 6.38% $7,932
    HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.16% $16,258
    Ixonia Bank 4 6.84% $11,363
    Community First National Bank 4 7.09% $8,069
    KELLEY MORTGAGE, LLC 3 6.25% $2,517
    FIRST EQUITY MORTGAGE INCORPORATED 3 5.62% $10,950
    DELMAR FINANCIAL COMPANY 3 6.42% $12,645
    BAYSHORE MORTGAGE FUNDING, LLC 3 6.71% $14,756
    ZILLOW HOME LOANS, LLC 3 6.29% $3,890
    INTERCOASTAL MORTGAGE COMPANY 3 6.33% $5,821
    NP, Inc. 3 7.75% $11,171
    Capital City Home Loans, LLC 3 6.75% $11,149
    M&T Bank 3 6.38% $9,069
    OCEANSIDE MORTGAGE COMPANY 3 6.17% $8,320
    Cornerstone First Mortgage, Inc 3 6.33% $13,951
    Eagle Bank and Trust Company 3 5.96% $12,144
    Atlantic Coast Mortgage, LLC 3 5.92% $6,129
    Synovus Bank 3 6.17% $7,900
    GENEVA FINANCIAL, LLC 3 6.42% $16,915
    Credence Funding Corporation 3 5.79% $7,516
    CB&S Bank, Inc. 3 7.08% $2,837
    NATIONS RELIABLE LENDING, LLC 3 7.63% $2,447
    NATIONWIDE MORTGAGE BANKERS, INC. 3 6.88% $20,924
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.50% $8,533
    ENDEAVOR CAPITAL, LLC. 3 6.71% $12,332
    Hometown Equity Mortgage, LLC 3 6.67% $5,200
    CBM Mortgage, Inc. 3 6.71% $13,971
    LAND HOME FINANCIAL SERVICES, INC. 3 6.42% $15,591
    TruHome Solutions, LLC 2 6.25% $4,325
    Shamrock Home Loans, Inc. 2 6.06% $6,244
    CIS Financial Services, Inc. 2 6.19% $9,112
    PINNACLE LENDING GROUP, INC. 2 7.31% $8,859
    SOUTHERN TRUST MORTGAGE, LLC 2 6.81% $6,688
    Willamette Valley Bank 2 6.75% $11,322
    CRESCENT MORTGAGE COMPANY 2 5.94% $9,614
    Bank of America 2 7.00% $2,279
    KELLER MORTGAGE, LLC 2 5.69% $10,606
    Financial Federal Bank 2 5.69% $6,308
    POLARIS HOME FUNDING CORP. 2 6.94% $17,109
    North American Savings Bank, F.S.B. 2 5.63% $13,644
    Wyndham Capital Mortgage, Inc. 2 5.50% $7,357
    V.I.P. MORTGAGE, INC. 2 6.75% $4,109
    TOTAL MORTGAGE SERVICES, LLC 2 5.25% $12,447
    CALCON MUTUAL MORTGAGE LLC 2 6.56% $14,861
    Neighborhood Loans, Inc. 2 6.63% $9,250
    AmRes Corporation 2 6.68% $8,625
    GMFS LLC 2 5.94% $9,099
    American Security Mortgage Corp. 2 6.06% $7,138
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 6.37% $13,930
    American Mortgage & Equity Consultants, Inc. 2 6.94% $10,001
    PANORAMA MORTGAGE GROUP, LLC 2 6.13% $5,387
    Meridian Bank Corporation 2 6.38% $4,236
    MICHIGAN MUTUAL, INC. 2 6.88% $173
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $11,366
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.13% $6,957
    First Savings Bank 1 5.50% $22,850
    American National Bank 1 7.25% $6,334
    US MORTGAGE CORPORATION 1 6.25% $23,483
    GSF Mortgage Corporation 1 7.13% $11,461
    ENCORE BANK 1 6.63% $4,882
    EMM LOANS LLC 1 6.25% $15,441
    Vellum Mortgage, Inc. 1 6.75% $10,589
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.13% $5,817
    ENVOY MORTGAGE, LTD 1 6.13% $10,518
    DIRECT LENDERS, LLC 1 6.50% $9,359
    KINECTA 1 5.88% $13,977
    Midwest BankCentre 1 6.50% $9,279
    ALLIED MORTGAGE GROUP, INC. 1 7.63% $3,785
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.63% $2,196
    DATA MORTGAGE, INC. 1 7.25% $7,027
    CU COMMUNITY, LLC 1 6.38% $4,690
    Consumer First Mortgage, Inc. 1 6.50% $4,512
    COMMUNITY MORTGAGE, LLC 1 6.75% $178
    COMMUNITYAMERICA 1 6.63% $2,475
    Commerce Home Mortgage, Inc. 1 7.13% $1,229
    NTFN, INC. 1 5.75% $9,679
    CITYWIDE HOME LOANS, LLC 1 5.75% $6,331
    OCMBC, INC. 1 6.50% $18,350
    Old National Bank 1 5.63% $16,458
    ON Q FINANCIAL, INC. 1 7.25% $18,849
    ONY GLO, INC. 1 4.63% $16,902
    Pacific Lending LLC 1 6.75% $8,254
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $4,118
    JMJ FINANCIAL GROUP 1 6.25% $9,878
    Citibank 1 7.75% $4,372
    CIBM Bank 1 6.25% $11,890
    INTERNATIONAL CITY MORTGAGE, INC. 1 7.13% $10,925
    PNC Bank 1 6.75% $7,281
    POINT Mortgage 1 6.25% $17,603
    Farmers Bank & Trust 1 5.25% $14,077
    Preston Home Loans Inc 1 6.63% $17,132
    INTERCAP LENDING INC. 1 7.00% $4,718
    Capital Bank 1 7.25% $9,629
    First Financial Bank 1 6.75% $8,525
    RANLIFE, INC. 1 6.38% $14,767
    West Gate Bank 1 5.75% $738
    BOKF 1 7.00% $37,396
    Residential Mortgage Solutions, Inc. 1 7.25% $11,916
    RESOURCE FINANCIAL SERVICES, INC. 1 6.75% $7,776
    FBC MORTGAGE, LLC 1 7.25% $8,917
    HOMESTEAD FUNDING CORP. 1 6.25% $6,997
    S1L, Inc. 1 6.25% $4,838
    Sandy Spring Bank 1 6.75% $3,148
    Semper Home Loans, Inc. 1 5.25% $13,295
    SHELTER LENDING SERVICES, L.L.C. 1 6.75% $685
    Shore United Bank 1 5.75% $23,163
    FIDELITY BANK 1 6.25% $15,404
    SmartBank 1 7.50% $7,464
    Flanagan State Bank 1 6.75% $1,124
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.13% $8,594
    Stride Bank 1 7.13% $5,847
    AXIA FINANCIAL, LLC 1 6.75% $5,018
    Hawthorn Bank 1 5.75% $3,536
    TENNESSEE VALLEY 1 6.63% $2,907
    TEXAS TECH 1 5.88% $650
    First Internet Bank of Indiana 1 5.75% $2,745
    Assurance Financial Group, L.L.C. 1 6.25% $7,593
    The Freedom Bank of Virginia 1 5.63% $6,878
    The Huntington National Bank 1 6.25% $4,917
    Hancock Whitney Bank 1 5.63% $2,372
    Arvest Bank 1 6.50% $24,637
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.00% $7,031
    Hamilton Mortgage Corporation 1 7.25% $6,681
    FIRST CONTINENTAL MORTGAGE, LTD. 1 6.75% $5,574
    Total Media Management, LLC 1 6.63% $11,907
    Towne Bank 1 6.75% $4,075
    First United Bank and Trust Company 1 5.88% $4,581

    The top Tennessee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2,265 VA loans originated. Their average total fees are $6,460, which is $3,367 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Tennessee VA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,055), EAGLE HOME MORTGAGE, LLC ($4,738), MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,446), Truist ($5,608) and GUARANTEED RATE, INC. ($6,040).

    The lowest rate Tennessee VA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.37%), NVR Mortgage Finance, Inc. (5.42%), EAGLE HOME MORTGAGE, LLC (5.46%), PENTAGON FEDERAL CREDIT UNION (5.54%) and PENNYMAC LOAN SERVICES, LLC (5.59%).

    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.