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 6.09% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

Virginia's average VA mortgage closing costs are $7,193.

The average rate for the prior week (2023-05-19) was 5.82% and one month ago for the week of 2023-04-21, the average rate was 5.94%.

The average rate one year ago was 4.81%.

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.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 3,878 5.04% $8,658
NAVY FEDERAL CREDIT UNION 2,031 3.91% $9,105
UNITED WHOLESALE MORTGAGE, LLC 1,745 4.36% $10,783
QUICKEN LOANS, LLC 1,651 4.07% $12,502
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1,261 4.77% $10,725
FREEDOM MORTGAGE CORPORATION 1,214 4.19% $12,396
MOVEMENT MORTGAGE, LLC 1,134 4.68% $9,996
PENNYMAC LOAN SERVICES, LLC 1,039 3.29% $10,434
OVM FINANCIAL, INC. 988 4.50% $10,808
CALIBER HOME LOANS, INC. 817 4.53% $12,116
NVR Mortgage Finance, Inc. 777 4.04% $10,498
LOANDEPOT.COM, LLC 745 4.01% $12,332
MCLEAN MORTGAGE CORPORATION 591 4.27% $17,114
USAA Federal Savings Bank 574 4.45% $9,895
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 552 5.71% $9,955
Atlantic Coast Mortgage, LLC 488 4.59% $15,270
Prosperity Home Mortgage, LLC 480 4.40% $12,151
NEW DAY FINANCIAL, LLC 452 4.97% $13,504
PENTAGON FEDERAL CREDIT UNION 405 3.43% $8,289
The Federal Savings Bank 385 4.71% $15,143
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 357 4.88% $12,252
SOUTHERN TRUST MORTGAGE, LLC 355 4.70% $11,968
George Mason Mortgage, LLC 343 3.91% $13,254
TIDEWATER MORTGAGE SERVICES, INC. 334 4.85% $11,236
CBM Mortgage, Inc. 313 5.02% $11,325
CMG MORTGAGE, INC. 293 4.88% $12,899
GUARANTEED RATE, INC. 292 4.39% $11,511
Alcova Mortgage LLC 284 5.07% $8,305
First Heritage Mortgage, LLC 273 4.62% $16,645
Towne Bank 270 4.52% $11,925
EMBRACE HOME LOANS, INC. 267 4.33% $12,964
Mr. Cooper ( Nationstar Mortgage ) 264 4.57% $12,038
HOME POINT FINANCIAL CORPORATION 257 3.82% $11,472
Wells Fargo Bank 254 3.98% $7,551
INTERCOASTAL MORTGAGE COMPANY 231 4.30% $16,616
NFM, INC. 225 4.75% $12,327
AMERISAVE MORTGAGE CORPORATION 177 4.20% $12,947
CROSSCOUNTRY MORTGAGE, LLC 165 5.03% $14,128
NEWREZ LLC 157 4.44% $10,368
CARDINAL FINANCIAL 155 4.94% $13,659
Towne Mortgage, LLC 154 4.78% $12,067
C & F Mortgage Corporation 147 4.80% $12,142
NewTowne Mortgage, LLC 146 4.67% $11,940
LAKEVIEW LOAN SERVICING, LLC 138 3.52% $6,467
CLEARPATH LENDING 125 3.78% $12,386
FIRST SAVINGS MORTGAGE CORPORATION 124 4.40% $16,843
DHI MORTGAGE COMPANY, LTD. 121 3.75% $12,968
CAPITAL CENTER, L.L.C. 121 4.12% $7,232
LOANPAL, LLC 118 3.93% $14,768
Truist 114 4.06% $8,353
PLANET HOME LENDING, LLC 111 4.32% $10,409
Carrington Mortgage Services, LLC 109 4.44% $10,689
Flagstar Bank, FSB 109 4.24% $12,681
Presidential Bank, FSB 108 4.76% $13,774
PRIMELENDING, A PLAINSCAPITAL COMPANY 107 4.90% $9,949
North American Savings Bank, F.S.B. 106 4.03% $12,021
Advance Financial Group, LLC 106 4.73% $12,376
HOMESIDE FINANCIAL, LLC 105 4.66% $13,030
BROKER SOLUTIONS, INC. 105 4.79% $11,518
Ameris Bank 104 4.59% $13,758
EMM LOANS LLC 102 4.87% $10,677
GUARANTEED RATE AFFINITY, LLC 102 4.44% $11,409
FIRST HOME MORTGAGE CORPORATION 102 4.71% $13,777
JAMS-01, INC. 97 4.53% $16,782
Vellum Mortgage, Inc. 92 4.51% $14,604
Integrity Home Mortgage Corp 90 4.70% $11,952
Tidewater Home Funding, LLC 88 4.55% $10,455
NBKC BANK 87 4.15% $9,931
Barrington Bank & Trust Company, N.A. 85 4.50% $8,781
Mid-Continent Funding, Inc. 83 4.78% $10,195
MUTUAL OF OMAHA MORTGAGE, INC. 79 4.46% $9,645
VILLAGE CAPITAL MORTGAGE 77 4.05% $10,383
EAGLE HOME MORTGAGE, LLC 75 4.88% $7,355
DRAPER AND KRAMER MORTGAGE CORP. 74 4.47% $13,904
HOMESPIRE MORTGAGE CORPORATION 71 5.04% $11,416
UNION HOME MORTGAGE CORP. 70 4.76% $11,729
Blue Ridge Bank 69 4.64% $10,028
Armed Forces Bank 68 4.23% $12,921
HOMEAMERICAN MORTGAGE CORPORATION 67 4.23% $7,816
HOMEBRIDGE FINANCIAL SERVICES, INC. 66 4.22% $11,835
GoPrime Mortgage, Inc. 66 4.56% $10,636
Strong Home Mortgage, LLC 61 3.68% $11,155
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 60 4.99% $14,334
FINANCE OF AMERICA MORTGAGE LLC 60 4.14% $11,999
Equity Prime Mortgage LLC 57 5.24% $11,787
Paramount Residential Mortgage Group, Inc. 55 5.07% $14,691
Nations Lending Corporation 54 4.65% $12,271
U.S. Bank 53 4.27% $11,107
NETWORK CAPITAL FUNDING CORPORATION 50 3.93% $10,552
PULTE MORTGAGE LLC 49 4.44% $10,697
Citizens Bank 47 4.16% $8,771
AMERICAN PACIFIC MORTGAGE CORPORATION 47 5.21% $13,240
Lakeview Community Capital, LLC 46 3.53% $5,453
M&T Bank 44 3.54% $9,928
ARK-LA-TEX FINANCIAL SERVICES, LLC. 44 4.64% $10,246
Magnolia Bank 44 4.30% $15,335
DRAGAS MORTGAGE COMPANY 43 4.80% $12,170
Wyndham Capital Mortgage, Inc. 42 3.91% $10,122
BAY EQUITY LLC 41 5.30% $11,404
VILLAGE BANK MORTGAGE CORPORATION 40 4.64% $7,178
BNC National Bank 40 3.91% $9,833
Towne First Mortgage, LLC 39 4.76% $10,522
Plains Commerce Bank 38 4.86% $10,804
Virginia Credit Union, Inc. 38 4.50% $8,219
GUILD MORTGAGE COMPANY 38 4.63% $9,326
Century Mortgage Company DBA Century Lending Company 37 4.38% $14,473
Loan Simple, Inc. 37 4.23% $12,250
SWBC MORTGAGE CORPORATION 37 4.47% $13,350
Atlantic Union Bank 36 4.96% $8,707
Northpointe Bank 35 4.31% $14,662
Hometown Lenders, Inc. 34 4.26% $13,096
MILEND, INC. 34 5.33% $13,457
DAS Acquisition Company, LLC 33 4.90% $12,061
The Freedom Bank of Virginia 32 4.24% $10,332
NATIONS DIRECT MORTGAGE, LLC 31 4.95% $10,046
FIRST EQUITY MORTGAGE INCORPORATED 30 4.15% $11,264
SUN WEST MORTGAGE COMPANY, INC. 30 4.27% $11,540
JOHNSON MORTGAGE COMPANY, L.L.C. 29 4.35% $16,031
First Federal Bank 29 4.67% $13,270
Low VA Rates, LLC 28 4.36% $18,425
CHURCHILL MORTGAGE CORPORATION 27 4.62% $13,396
Sierra Pacific Mortgage Company, Inc. 25 4.74% $11,640
TOWNE MORTGAGE COMPANY 25 3.78% $9,887
The Central Trust Bank 25 4.08% $10,153
SUCCESS MORTGAGE PARTNERS, INC. 23 4.53% $12,015
RELIANCE FIRST CAPITAL, LLC 22 4.92% $9,277
CONTOUR MORTGAGE CORPORATION 21 4.58% $15,432
First Guaranty Mortgage Corporation 21 3.89% $7,077
THE MORTGAGE LINK, INC. 21 4.48% $14,913
NBH Bank 21 3.74% $13,467
AMERICAN FINANCING CORPORATION 20 3.82% $10,453
MORTGAGE ACCESS CORP. 19 4.51% $16,146
FIDELITY DIRECT MORTGAGE, LLC 19 4.59% $17,017
PNC Bank 19 4.01% $6,195
AMERIFIRST FINANCIAL CORPORATION 19 5.62% $8,232
First Mortgage Solutions, LLC 19 3.01% $13,065
JET HOMELOANS, LLC 19 5.07% $9,391
Waterstone Mortgage Corporation 18 4.82% $11,708
Fulton Bank 18 4.34% $9,908
CityWorth Mortgage LLC 17 4.35% $11,452
JPMorgan Chase Bank 17 4.66% $13,332
Renasant Bank 17 4.62% $5,915
Summit Mortgage Corporation 16 4.46% $12,288
SOVEREIGN LENDING GROUP INCORPORATED 16 4.05% $17,387
NP, Inc. 16 3.73% $7,742
Meridian Bank Corporation 15 4.28% $12,854
INTERLINC MORTGAGE SERVICES, LLC 15 5.28% $11,638
Capital Bank 15 3.73% $19,638
TBI MORTGAGE COMPANY 15 4.27% $21,376
Sunflower Bank 14 3.55% $11,716
KELLER MORTGAGE, LLC 14 4.50% $13,633
PREMIA MORTGAGE, LLC 14 4.26% $6,660
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 13 4.76% $12,179
ARC HOME LLC 13 3.91% $17,956
Encompass Lending Group, LP 12 4.54% $14,369
GENEVA FINANCIAL, LLC 12 4.56% $19,699
TJC Mortgage, Inc. 12 3.70% $9,127
BAYSHORE MORTGAGE FUNDING, LLC 12 5.23% $13,222
Bank of America 12 4.19% $11,030
Sandy Spring Bank 12 4.82% $15,530
Ixonia Bank 12 4.71% $17,323
EVERETT FINANCIAL, INC. 12 5.04% $10,834
ROUNDPOINT MORTGAGE SERVICING CORPORATION 11 4.24% $9,870
MANN FINANCIAL INC. 11 4.47% $14,136
Dollar Bank, Federal Savings Bank 11 4.36% $8,323
FREEDOM FIRST 11 3.50% $5,112
APEX HOME LOANS, INC. 10 4.21% $10,805
Christensen Financial, Inc. 10 4.89% $11,749
Bank of England 10 4.91% $13,745
Texana Bank 10 3.76% $16,020
SECURITYNATIONAL MORTGAGE COMPANY 10 4.46% $15,851
Princeton Mortgage Corporation 9 4.51% $18,812
CORNERSTONE HOME LENDING, INC. 9 4.81% $9,509
C&F Select LLC 9 4.89% $9,737
GSF Mortgage Corporation 9 5.54% $17,070
DATA MORTGAGE, INC. 9 5.65% $10,474
GUARANTY HOME MORTGAGE CORPORATION 8 4.80% $9,539
Shea Mortgage Inc. 8 4.42% $5,125
Member Options, LLC 8 5.19% $9,894
American Security Mortgage Corp. 8 3.44% $14,808
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 5.78% $18,648
INTERCAP LENDING INC. 8 4.94% $7,473
EagleBank 8 4.14% $20,624
MID AMERICA MORTGAGE, INC. 8 5.19% $8,061
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 4.67% $10,960
ACADEMY MORTGAGE CORPORATION 8 4.39% $15,026
MISSION MORTGAGE LLC 8 4.58% $23,749
NATION ONE MORTGAGE CORPORATION 7 4.73% $9,171
CERTAINTY HOME LOANS, LLC 7 4.96% $12,804
F & M BANK CORP. 7 4.48% $11,054
First Home Bank 7 4.68% $7,446
HomePromise Corporation 7 6.34% $17,115
ISERVE RESIDENTIAL LENDING, LLC 7 5.25% $12,901
Evolve Bank & Trust 7 4.95% $4,762
EASTMAN 7 4.68% $5,194
LANGLEY 7 4.88% $7,712
LEADERONE FINANCIAL CORPORATION 7 4.34% $15,213
Community First National Bank 7 4.27% $7,449
AMERICAN FINANCIAL RESOURCES, INC. 7 5.16% $5,413
West Town Bank & Trust 7 4.66% $16,343
ALLIED MORTGAGE GROUP, INC. 7 4.13% $7,238
NATIONS RELIABLE LENDING, LLC 7 4.95% $9,595
NexBank 6 3.85% $11,872
NORTHERN MORTGAGE SERVICES, LLC 6 4.17% $17,689
Northwest Federal Credit Union 6 5.56% $11,258
ZILLOW HOME LOANS, LLC 6 3.77% $5,627
PLAZA HOME MORTGAGE, INC. 6 5.00% $11,280
Fifth Third Bank 6 3.06% $3,844
RESIDENTIAL BANCORP. 6 4.04% $12,750
THRIVE MORTGAGE, LLC 6 4.90% $8,843
Credence Funding Corporation 6 3.02% $4,705
PHH Mortgage Corporation 6 4.48% $10,119
WesBanco Bank, Inc. 6 4.79% $22,845
HANCOCK MORTGAGE PARTNERS, LLC 6 5.06% $6,640
FirstBank 6 4.04% $12,402
First Federal Bank of Kansas City 6 4.13% $15,874
MASON MCDUFFIE MORTGAGE CORPORATION 6 3.73% $9,108
VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.08% $2,324
1ST FINANCIAL, INC. 5 4.90% $11,308
Assurance Financial Group, L.L.C. 5 4.67% $13,536
FIRST COMMUNITY MORTGAGE, INC. 5 4.50% $5,060
MEMBER ADVANTAGE MORTGAGE, LLC 5 4.88% $7,432
Mortgage Network, Inc. 5 4.28% $10,620
MORTGAGEONE, INC. 5 5.38% $15,943
Paramount Bank 5 3.23% $13,507
Prime Choice Funding Inc. 5 2.95% $6,369
Service Federal Credit Union 5 4.33% $11,181
Shamrock Home Loans, Inc. 5 4.43% $11,296
SUMMIT FUNDING, INC. 5 4.48% $13,015
AmRes Corporation 4 4.66% $11,684
Southern Bank and Trust Company 4 4.34% $6,705
EQUITY RESOURCES, INC. 4 4.50% $5,593
ROSS MORTGAGE CORPORATION 4 4.38% $20,288
American National Bank and Trust Company 4 4.91% $14,869
Regions Bank 4 4.94% $11,239
NEWPORT NEWS SHIPBUILDING EMPLOYEES 4 4.41% $5,704
HOMESTAR FINANCIAL CORPORATION 4 4.34% $14,300
THE MORTGAGE FIRM, INC. 4 4.41% $8,485
The Huntington National Bank 4 4.63% $14,172
Citibank 4 3.81% $10,754
CREDIT UNION MORTGAGE ASSOCIATION, INC. 4 3.72% $3,705
DIRECT MORTGAGE LOANS, LLC 4 4.88% $15,919
Aurora Financial, LLC 3 2.79% $2,581
First Savings Bank 3 3.33% $12,211
Austin Capital Bank SSB 3 5.00% $11,180
DUPONT COMMUNITY 3 5.42% $3,871
Capital City Home Loans, LLC 3 4.08% $10,615
First Option Mortgage, LLC 3 5.96% $16,690
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 3.71% $16,161
LEGEND LENDING CORPORATION 3 6.21% $20,004
SOUTHWEST STAGE FUNDING, LLC 3 5.33% $3,133
TD Bank 3 5.54% $15,675
MLD MORTGAGE INC. 3 4.29% $7,012
Goldwater Bank, N.A. 3 3.83% $8,892
Gateway First Bank 3 4.96% $3,088
Congressional Bank 3 3.92% $21,315
Florida Capital Bank 3 4.54% $11,402
MID-ISLAND MORTGAGE CORP. 3 4.17% $11,437
T2 FINANCIAL LLC 3 5.79% $14,211
ENVOY MORTGAGE, LTD 3 3.71% $10,128
PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.17% $16,688
AMERICAN ADVISORS GROUP 3 3.29% $8,591
Residential Mortgage Solutions, Inc. 3 5.75% $11,107
Watermark Capital, Inc. 3 3.54% $3,805
SeaTrust Mortgage Company 3 5.46% $13,728
ROYAL UNITED MORTGAGE LLC 3 5.38% $21,651
Cornerstone First Mortgage, Inc 3 4.25% $10,558
VAN DYK MORTGAGE CORPORATION 3 6.04% $7,636
MICHIGAN MUTUAL, INC. 3 3.50% $13,509
Hometown Equity Mortgage, LLC 3 5.38% $5,005
ANGEL OAK HOME LOANS LLC 3 5.08% $15,095
POLARIS HOME FUNDING CORP. 2 6.06% $11,488
LIBERTY HOME MORTGAGE CORPORATION 2 3.19% $12,791
Old National Bank 2 3.75% $15,676
HAMILTON HOME LOANS, INC. 2 4.38% $6,420
First Western Trust Bank 2 3.88% $9,186
First United Bank and Trust Company 2 3.19% $3,984
First State Bank of St. Charles, Missouri 2 4.25% $4,029
First National Bank Texas 2 5.13% $10,648
S1L, Inc. 2 5.69% $10,712
FIDELITY BANK 2 4.94% $15,591
SOUTHPOINT FINANCIAL SERVICES, INC. 2 5.56% $14,864
STOCKTON MORTGAGE CORPORATION 2 3.38% $5,722
Commerce Home Mortgage, Inc. 2 3.13% $6,976
Carrollton Bank 2 4.63% $7,433
UNIVERSAL MORTGAGE & FINANCE, INC. 2 6.88% $8,423
AmeriHome Mortgage Company, LLC 2 4.49% $6,769
Amerifirst Financial, Inc. 2 3.44% $9,259
US MORTGAGE CORPORATION 2 2.81% $6,765
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 2 4.88% $12,581
AMERICAN INTERNET MORTGAGE, INC. 2 3.13% $10,332
AMERICAN BANCSHARES MORTGAGE, LLC 2 4.69% $13,836
Mutual Federal Bank 2 4.63% $15,969
MORIA DEVELOPMENT, INC. 2 5.44% $19,213
MIDLAND MORTGAGE CORPORATION 2 5.13% $18,679
RAPID MORTGAGE COMPANY 1 5.63% $13,145
KeyBank 1 5.88% $7,162
RANLIFE, INC. 1 4.63% $2,336
DIRECT MORTGAGE, CORP. 1 6.50% $19,139
1ST SIGNATURE LENDING, LLC 1 5.75% $3,199
CRESCENT MORTGAGE COMPANY 1 5.63% $2,132
First Reliance Bank 1 5.25% $3,233
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $3,155
Core Bank 1 3.75% $11,008
FLAT BRANCH MORTGAGE, INC. 1 4.25% $15,455
PLUS RELOCATION MORTGAGE, LLC 1 3.75% $3,206
HANSCOM 1 3.63% $3,545
LAND HOME FINANCIAL SERVICES, INC. 1 6.88% $7,907
TEXAS TECH 1 6.00% $8,389
Peoples Bank 1 4.75% $16,623
CIS Financial Services, Inc. 1 4.13% $22,290
The Fidelity Bank 1 6.63% $3,290
CHARTER WEST BANK 1 5.75% $9,155
Hawthorn Bank 1 4.63% $13,298
HighTechLending Inc 1 4.25% $9,177
American Mortgage & Equity Consultants, Inc. 1 5.25% $11,372
Academy Bank 1 4.50% $13,004
Call Federal Credit Union 1 4.00% $3,635
CALCON MUTUAL MORTGAGE LLC 1 5.75% $232
BLUELEAF LENDING, LLC 1 4.75% $14,058
BAY CAPITAL MORTGAGE CORPORATION 1 4.00% $11,998
Bank of Tennessee 1 3.00% $7,373
BancorpSouth Bank 1 3.50% $9,853
OPEN MORTGAGE, LLC 1 4.25% $6,077
OCMBC, INC. 1 7.38% $24,722
HOMESTEAD FUNDING CORP. 1 2.38% $10,952
UNITED MORTGAGE CORP. 1 5.75% $16,194
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 4.88% $20,060
JAMES B. NUTTER & COMPANY 1 6.00% $10,684
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.13% $14,382
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $7,794
LOANLEADERS OF AMERICA, INC. 1 6.88% $9,706
MDE Home Loans, LLC 1 2.63% $3,155
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $10,278
FEDERATED MORTGAGE CORP. 1 2.25% $2,820
Semper Home Loans, Inc. 1 5.50% $11,015
Wilmington Savings Fund Society, FSB 1 3.50% $14,141
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 6.25% $3,081
FBC MORTGAGE, LLC 1 5.50% $4,991
First Bank 1 5.25% $5,272
Simmons Bank 1 3.25% $9,957
SIRVA MORTGAGE, INC. 1 5.13% $464
First International Bank & Trust 1 4.00% $5,012
First National Bank of Pennsylvania 1 5.13% $32,005
Acre Mortgage and Financial Inc 1 5.13% $26,569
South State Bank 1 4.75% $6,792
Red River Bank 1 4.75% $11,254

The top Virginia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 3,878 VA loans originated. Their average total fees are $8,658, which is $447 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Virginia VA lenders (with over 10 loans originated) are FREEDOM FIRST ($5,112), Lakeview Community Capital, LLC ($5,453), Renasant Bank ($5,915), PNC Bank ($6,195) and LAKEVIEW LOAN SERVICING, LLC ($6,467).

The lowest rate Virginia VA lenders (with over 10 loans originated) are First Mortgage Solutions, LLC (3.01%), PENNYMAC LOAN SERVICES, LLC (3.29%), PENTAGON FEDERAL CREDIT UNION (3.43%), FREEDOM FIRST (3.50%) and LAKEVIEW LOAN SERVICING, LLC (3.52%).

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.