Virginia VA Loan Rates, Closing Costs & Stats

Virginia

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.

Virginia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Virginia averaged 6.85% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Virginia's average VA mortgage closing costs are $7,515.

The average rate for the prior week (2024-05-17) was 6.38% and one month ago for the week of 2024-04-19, the average rate was 7.04%.

The average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-05-24, the average rate was 7.02%.

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

Virginia 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 Virginia level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 2,820 6.64% $8,340
NAVY FEDERAL CREDIT UNION 1,338 5.82% $8,613
UNITED WHOLESALE MORTGAGE, LLC 1,233 6.18% $10,567
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1,029 6.35% $10,749
QUICKEN LOANS, LLC 1,013 6.11% $13,446
MOVEMENT MORTGAGE, LLC 959 6.29% $10,928
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 920 6.56% $10,271
NVR Mortgage Finance, Inc. 612 5.55% $9,658
PENNYMAC LOAN SERVICES, LLC 497 5.53% $10,022
Atlantic Coast Mortgage, LLC 484 6.20% $13,419
FREEDOM MORTGAGE CORPORATION 483 6.46% $17,109
CMG MORTGAGE, INC. 430 5.98% $13,480
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 415 6.19% $11,482
Prosperity Home Mortgage, LLC 385 6.02% $10,533
LOANDEPOT.COM, LLC 360 6.00% $12,517
USAA Federal Savings Bank 305 6.16% $10,901
SOUTHERN TRUST MORTGAGE, LLC 301 6.45% $12,608
CBM Mortgage, Inc. 288 6.30% $12,390
GUARANTEED RATE, INC. 276 6.04% $10,838
PENTAGON FEDERAL CREDIT UNION 246 5.63% $9,988
TIDEWATER MORTGAGE SERVICES, INC. 237 6.49% $12,471
First Heritage Mortgage, LLC 222 6.30% $16,211
NEWREZ LLC 221 6.57% $11,063
The Federal Savings Bank 216 6.26% $17,138
Alcova Mortgage LLC 214 6.83% $9,179
NEW DAY FINANCIAL, LLC 204 7.43% $14,190
CALIBER HOME LOANS, INC. 194 5.92% $11,894
Towne Bank 176 6.36% $12,724
INTERCOASTAL MORTGAGE COMPANY 175 6.08% $16,961
DHI MORTGAGE COMPANY, LTD. 160 5.37% $11,459
NFM, INC. 151 6.36% $12,211
CROSSCOUNTRY MORTGAGE, LLC 151 6.54% $12,413
Advance Financial Group, LLC 131 6.35% $13,342
EMBRACE HOME LOANS, INC. 131 6.07% $15,265
Towne Mortgage, LLC 130 6.46% $14,541
Mr. Cooper ( Nationstar Mortgage ) 129 6.04% $16,402
AMERICAN FINANCIAL NETWORK, INC. 119 6.57% $10,202
CARDINAL FINANCIAL 113 6.60% $14,722
FIRST SAVINGS MORTGAGE CORPORATION 112 6.17% $17,207
VILLAGE CAPITAL MORTGAGE 109 6.35% $10,786
Wells Fargo Bank 105 5.91% $7,580
George Mason Mortgage, LLC 97 6.20% $13,453
Presidential Bank, FSB 95 6.52% $10,685
BROKER SOLUTIONS, INC. 94 6.54% $12,036
Plains Commerce Bank 93 6.07% $13,700
Truist 91 6.18% $10,700
NBKC BANK 88 5.88% $10,842
C & F Mortgage Corporation 87 6.69% $12,717
EMM LOANS LLC 86 6.35% $12,170
PRIMELENDING, A PLAINSCAPITAL COMPANY 81 6.51% $11,552
AMERISAVE MORTGAGE CORPORATION 74 5.78% $17,497
HOMESIDE FINANCIAL, LLC 74 6.51% $13,734
GUARANTEED RATE AFFINITY, LLC 72 6.06% $11,071
EAGLE HOME MORTGAGE, LLC 68 6.05% $7,337
FIRST HOME MORTGAGE CORPORATION 68 6.38% $13,367
Ameris Bank 66 6.23% $12,504
HOMESPIRE MORTGAGE CORPORATION 66 6.65% $9,132
BAY EQUITY LLC 64 6.29% $12,704
Tidewater Home Funding, LLC 58 6.25% $22,634
Barrington Bank & Trust Company, N.A. 57 6.50% $8,496
JAMS-01, INC. 55 5.98% $18,633
FIRST COMMUNITY MORTGAGE, INC. 53 6.98% $10,574
MUTUAL OF OMAHA MORTGAGE, INC. 52 6.37% $16,988
CAPITAL CENTER, L.L.C. 51 6.31% $7,493
HOMEAMERICAN MORTGAGE CORPORATION 51 5.70% $7,662
Integrity Home Mortgage Corp 50 6.44% $13,817
GUILD MORTGAGE COMPANY 50 6.32% $12,016
DRAPER AND KRAMER MORTGAGE CORP. 49 6.11% $12,014
Vellum Mortgage, Inc. 48 6.40% $16,631
Armed Forces Bank 45 6.30% $11,782
ARK-LA-TEX FINANCIAL SERVICES, LLC. 45 6.59% $10,885
UNION HOME MORTGAGE CORP. 43 6.59% $12,584
Magnolia Bank 42 6.26% $17,830
GoPrime Mortgage, Inc. 42 6.09% $12,099
Mid-Continent Funding, Inc. 41 6.22% $10,637
AMERICAN PACIFIC MORTGAGE CORPORATION 41 6.30% $16,182
PLANET HOME LENDING, LLC 41 5.91% $8,972
U.S. Bank 41 5.90% $14,193
Equity Prime Mortgage LLC 41 6.91% $11,257
Century Mortgage Company DBA Century Lending Company 40 6.04% $10,287
Paramount Residential Mortgage Group, Inc. 40 6.06% $12,232
NewTowne Mortgage, LLC 36 5.90% $15,499
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 36 6.53% $9,574
North American Savings Bank, F.S.B. 35 5.67% $10,916
LOANPAL, LLC 35 5.89% $14,194
Virginia Credit Union, Inc. 34 6.23% $8,693
PULTE MORTGAGE LLC 34 6.02% $8,151
DRAGAS MORTGAGE COMPANY 31 6.36% $7,523
Flagstar Bank, FSB 31 6.42% $12,306
Blue Ridge Bank 30 6.46% $9,016
RELIANCE FIRST CAPITAL, LLC 30 6.64% $12,077
CHURCHILL MORTGAGE CORPORATION 28 6.38% $15,262
BNC National Bank 26 5.48% $9,555
SUN WEST MORTGAGE COMPANY, INC. 26 6.48% $11,227
MILEND, INC. 25 6.73% $15,177
Renasant Bank 25 6.19% $10,002
Strong Home Mortgage, LLC 25 5.99% $11,176
FIRST EQUITY MORTGAGE INCORPORATED 24 5.66% $15,338
Sierra Pacific Mortgage Company, Inc. 24 6.23% $10,917
First Federal Bank 23 6.35% $11,884
The Freedom Bank of Virginia 23 6.02% $11,603
JET HOMELOANS, LLC 23 5.76% $9,071
SWBC MORTGAGE CORPORATION 22 6.27% $13,896
Waterstone Mortgage Corporation 22 6.31% $12,192
Atlantic Union Bank 22 6.20% $7,841
MCLEAN MORTGAGE CORPORATION 21 5.68% $6,305
M&T Bank 21 6.14% $11,032
Towne First Mortgage, LLC 21 6.77% $9,504
HOMEBRIDGE FINANCIAL SERVICES, INC. 20 6.45% $9,801
Fulton Bank 20 6.23% $11,229
GSF Mortgage Corporation 20 6.32% $14,059
LAKEVIEW LOAN SERVICING, LLC 20 5.93% $13,443
FIDELITY DIRECT MORTGAGE, LLC 19 6.73% $12,013
American Mortgage & Equity Consultants, Inc. 19 6.66% $11,513
Citizens Bank 18 6.20% $12,638
Keystone Funding, Inc. 17 6.01% $12,749
Nations Lending Corporation 16 6.23% $11,497
GENEVA FINANCIAL, LLC 16 6.60% $14,628
MICHIGAN MUTUAL, INC. 15 5.37% $13,417
PLAZA HOME MORTGAGE, INC. 15 6.07% $9,389
The Central Trust Bank 15 5.56% $14,408
VILLAGE BANK MORTGAGE CORPORATION 15 6.47% $9,497
MORTGAGE ACCESS CORP. 14 6.24% $16,023
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 14 6.28% $14,295
NATIONS DIRECT MORTGAGE, LLC 14 6.38% $12,762
ISERVE RESIDENTIAL LENDING, LLC 13 6.88% $14,265
T2 FINANCIAL LLC 13 6.58% $16,156
Sandy Spring Bank 13 6.55% $13,511
CONTOUR MORTGAGE CORPORATION 12 6.70% $12,911
Summit Mortgage Corporation 12 5.92% $11,975
SeaTrust Mortgage Company 12 6.40% $13,338
Dollar Bank, Federal Savings Bank 12 6.35% $12,437
PREMIA MORTGAGE, LLC 11 6.10% $7,965
CITY FIRST MORTGAGE SERVICES, L.L.C. 11 6.92% $14,383
DAS Acquisition Company, LLC 11 6.69% $16,060
MORIA DEVELOPMENT, INC. 11 6.86% $7,636
Ixonia Bank 10 6.83% $23,542
C&F Select LLC 10 6.75% $14,900
JPMorgan Chase Bank 10 6.59% $8,978
Lakeview Community Capital, LLC 10 6.28% $10,742
American Security Mortgage Corp. 10 6.11% $13,640
Northpointe Bank 9 5.82% $20,304
SOVEREIGN LENDING GROUP INCORPORATED 9 5.79% $16,345
ROSS MORTGAGE CORPORATION 9 6.72% $13,752
Bank of England 9 6.57% $9,793
Capital Bank 9 6.03% $14,094
MANN FINANCIAL INC. 9 6.35% $18,609
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.25% $11,286
SUMMIT FUNDING, INC. 8 7.17% $9,819
JOHNSON MORTGAGE COMPANY, L.L.C. 8 6.11% $15,934
LANGLEY 8 6.81% $4,171
MORTGAGEONE, INC. 8 6.78% $7,569
Residential Mortgage Solutions, Inc. 8 6.67% $13,597
INTERCAP LENDING INC. 8 6.73% $11,010
AMERICAN FINANCIAL RESOURCES, INC. 8 6.66% $9,705
ACADEMY MORTGAGE CORPORATION 7 6.73% $10,497
Carrington Mortgage Services, LLC 7 5.75% $5,726
FREEDOM FIRST 7 6.25% $5,089
Meridian Bank Corporation 7 6.13% $13,430
MLD MORTGAGE INC. 7 6.61% $14,419
PNC Bank 7 6.89% $9,570
ROYAL UNITED MORTGAGE LLC 7 6.96% $27,358
Sunflower Bank 7 5.58% $16,492
TOWNE MORTGAGE COMPANY 7 6.34% $6,993
ZILLOW HOME LOANS, LLC 7 6.39% $7,750
First National Bank of Pennsylvania 6 6.25% $8,136
VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.58% $3,810
TBI MORTGAGE COMPANY 6 6.29% $9,132
SUCCESS MORTGAGE PARTNERS, INC. 6 6.46% $17,734
NATION ONE MORTGAGE CORPORATION 6 6.60% $9,198
LEADERONE FINANCIAL CORPORATION 6 6.71% $12,084
AMERICAN FINANCING CORPORATION 5 5.98% $16,324
NETWORK CAPITAL FUNDING CORPORATION 5 5.68% $12,606
HomePromise Corporation 5 7.73% $11,843
ENVOY MORTGAGE, LTD 5 6.28% $13,544
CORNERSTONE HOME LENDING, INC. 5 6.75% $15,683
NATIONWIDE MORTGAGE BANKERS, INC. 5 6.83% $14,211
PHH Mortgage Corporation 5 6.77% $9,413
RESIDENTIAL HOME FUNDING CORP. 5 5.60% $18,340
Loan Simple, Inc. 5 6.73% $10,008
NexBank 5 6.03% $11,484
THRIVE MORTGAGE, LLC 5 6.58% $10,192
SOUTHWEST STAGE FUNDING, LLC 5 6.93% $1,868
SECURITYNATIONAL MORTGAGE COMPANY 5 5.88% $17,511
Shamrock Home Loans, Inc. 4 6.53% $10,393
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 4 6.88% $11,913
Shea Mortgage Inc. 4 6.31% $5,308
DATA MORTGAGE, INC. 4 6.31% $11,801
THE MORTGAGE LINK, INC. 4 6.38% $20,277
Cornerstone First Mortgage, Inc 4 6.09% $18,201
INTELLILOAN, INC. 4 5.88% $6,656
Princeton Mortgage Corporation 4 6.75% $14,564
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.75% $19,468
VAN DYK MORTGAGE CORPORATION 4 6.66% $3,855
Bank of America 4 5.44% $11,074
TD Bank 4 6.06% $19,369
Encompass Lending Group, LP 4 6.31% $11,367
SIRVA MORTGAGE, INC. 3 7.21% $2,560
Community First National Bank 3 6.38% $10,092
The Huntington National Bank 3 5.54% $9,110
GVC MORTGAGE, INC. 3 6.25% $13,034
INTERLINC MORTGAGE SERVICES, LLC 3 6.04% $9,608
TJC Mortgage, Inc. 3 5.75% $5,908
BAY CAPITAL MORTGAGE CORPORATION 3 6.04% $7,982
Evolve Bank & Trust 3 6.71% $4,609
UNITED NORTHERN MORTGAGE BANKERS LIMITED 3 6.08% $6,133
AmeriHome Mortgage Company, LLC 3 6.38% $8,108
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 3 7.20% $6,185
First Reliance Bank 3 6.21% $9,325
WesBanco 3 5.96% $15,536
DIRECT MORTGAGE LOANS, LLC 3 6.00% $14,232
OCMBC, INC. 3 6.67% $13,346
Wyndham Capital Mortgage, Inc. 2 4.94% $16,682
CRESCENT MORTGAGE COMPANY 2 7.19% $10,154
Regions Bank 2 5.25% $7,652
American National Bank and Trust Company 2 6.63% $6,392
Farmers Bank & Trust 2 5.38% $2,748
ALLIED MORTGAGE GROUP, INC. 2 6.88% $6,238
MASON MCDUFFIE MORTGAGE CORPORATION 2 7.25% $7,511
TOP FLITE FINANCIAL, INC. 2 6.94% $15,933
BAYSHORE MORTGAGE FUNDING, LLC 2 6.44% $28,270
FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.44% $25,360
CALCON MUTUAL MORTGAGE LLC 2 6.88% $5,864
MID AMERICA MORTGAGE, INC. 2 6.44% $22,187
LIBERTY HOME MORTGAGE CORPORATION 2 6.13% $19,795
RESIDENTIAL BANCORP 2 6.37% $12,805
First-Citizens Bank & Trust Company 2 6.38% $6,530
First Option Mortgage, LLC 2 7.50% $8,055
COMPASS MORTGAGE, INC. 2 6.63% $22,995
EagleBank 2 5.50% $11,566
MY MORTGAGE, INC. 2 6.63% $21,992
HOMESTEAD FUNDING CORP. 2 5.81% $6,738
ALAMEDA MORTGAGE CORPORATION 2 6.56% $18,739
Credence Funding Corporation 2 5.56% $5,403
DELMAR FINANCIAL COMPANY 2 7.63% $15,653
F & M BANK CORP. 2 6.88% $11,049
EVERETT FINANCIAL, INC. 2 7.13% $13,445
iCore Lending, Inc. 2 5.88% $15,850
First Savings Bank 2 6.00% $5,337
LEGEND LENDING CORPORATION 2 6.44% $14,524
PREMIER MORTGAGE RESOURCES, L.L.C. 2 7.56% $10,189
LOANLEADERS OF AMERICA, INC. 1 6.25% $20,374
Legends Bank 1 6.50% $6,969
HOMESTAR FINANCIAL CORPORATION 1 7.25% $8,501
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $7,970
Hancock Whitney Bank 1 5.38% $15,213
NATIONS RELIABLE LENDING, LLC 1 6.50% $15,303
NBH Bank 1 5.63% $27,484
Gateway First Bank 1 6.25% $5,515
FLAT BRANCH MORTGAGE, INC. 1 5.63% $4,884
Northwest Federal Credit Union 1 7.75% $2,871
First National Bank of Omaha 1 6.63% $36,973
OceanFirst Bank 1 6.50% $9,057
Old National Bank 1 6.99% $8,941
ON Q FINANCIAL, INC. 1 6.63% $967
PANORAMA MORTGAGE GROUP, LLC 1 6.38% $3,742
FIRST MORTGAGE COMPANY, INC. 1 5.25% $14,058
First Horizon Bank 1 6.00% $15,125
FIRST HERITAGE FINANCIAL, LLC 1 5.25% $28,061
Fifth Third Bank 1 6.13% $0
PLUS RELOCATION MORTGAGE, LLC 1 6.25% $12,556
Advisors Mortgage Group, L.L.C. 1 5.75% $11,412
Extraco Banks 1 6.13% $15,597
EVANSVILLE TEACHERS 1 6.13% $5,376
RANLIFE, INC. 1 5.50% $13,620
Red River Bank 1 5.63% $5,006
EASTMAN 1 6.00% $5,064
Republic Bank & Trust Company 1 6.63% $13,625
Eagle Bank and Trust Company 1 6.50% $9,752
RESOURCE FINANCIAL SERVICES, INC. 1 7.63% $4,003
RUOFF MORTGAGE COMPANY, INC. 1 6.00% $3,694
S1L, Inc. 1 5.25% $18,802
DUPONT COMMUNITY 1 6.75% $0
Shore United Bank 1 5.88% $20,566
SmartBank 1 5.63% $10,528
SOUTH CENTRAL BANK, INC. 1 6.63% $4,509
Southern Bank and Trust Company 1 5.75% $5,387
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.13% $10,449
STOCKTON MORTGAGE CORPORATION 1 6.25% $7,230
Wolfe Financial, Inc 1 6.88% $8,785
Citibank 1 5.38% $11,764
Capital City Home Loans, LLC 1 6.75% $3,500
BOKF 1 6.13% $11,724
THE MORTGAGE FIRM, INC. 1 6.38% $14,110
Bell Bank 1 6.63% $9,951
TOTAL MORTGAGE SERVICES, LLC 1 6.75% $14,883
BANKSOUTH MORTGAGE COMPANY, LLC 1 5.75% $13,568
BancorpSouth 1 5.75% $13,621
AXIA FINANCIAL, LLC 1 6.13% $6,013
Union Savings Bank 1 7.25% $4,492
United Bank 1 6.13% $4,483
United Nations Federal Credit Union 1 6.13% $4,532
UNITED SECURITY FINANCIAL CORP 1 6.75% $15,514
Aurora Financial, LLC 1 5.50% $5,999
UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.88% $14,558
University Bank 1 6.75% $11,581
Assurance Financial Group, L.L.C. 1 7.13% $4,005
Victorian Finance, LLC 1 5.88% $0
Member Options, LLC 1 6.13% $4,422
Watermark Capital, Inc. 1 6.13% $8,615
MID-ISLAND MORTGAGE CORP. 1 5.63% $13,656

The top Virginia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2,820 VA loans originated. Their average total fees are $8,340, which is $273 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Virginia VA lenders (with over 10 loans originated) are MCLEAN MORTGAGE CORPORATION ($6,305), EAGLE HOME MORTGAGE, LLC ($7,337), CAPITAL CENTER, L.L.C. ($7,493), DRAGAS MORTGAGE COMPANY ($7,523) and Wells Fargo Bank ($7,580).

The lowest rate Virginia VA lenders (with over 10 loans originated) are MICHIGAN MUTUAL, INC. (5.37%), DHI MORTGAGE COMPANY, LTD. (5.37%), BNC National Bank (5.48%), PENNYMAC LOAN SERVICES, LLC (5.53%) and NVR Mortgage Finance, Inc. (5.55%).

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.