Grand Rapids VA Loan Rates, Closing Costs & Stats

GRAND RAPIDS-KENTWOOD, MI

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.

Grand Rapids's 83 lenders originated 789 VA loans during 2024. The total origination value was $260,455,000, with an average VA loan value of $330,108.

Grand Rapids VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Grand Rapids averaged 6.84% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

Grand Rapids's average VA mortgage closing costs are $5,764.

The average rate for the prior week (2025-07-11) was 6.83% and one month ago for the week of 2025-06-13, the average rate was 6.8%.

The average rate one year ago was 6.8%.

For refis of the same type during the week of 2025-07-18, the average rate was 6.49%.

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

Grand Rapids 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 Grand Rapids level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 126 5.96% $6,577
Mortgage Research Center, LLC 101 6.28% $7,175
QUICKEN LOANS, LLC 63 5.97% $9,461
FREEDOM MORTGAGE CORPORATION 31 6.20% $8,473
LAKE MICHIGAN CREDIT UNION 30 6.07% $9,185
PENNYMAC LOAN SERVICES, LLC 29 5.55% $7,110
VILLAGE CAPITAL MORTGAGE 27 5.68% $7,736
ARK-LA-TEX FINANCIAL SERVICES, LLC. 25 6.40% $5,246
MORTGAGE 1 INCORPORATED 21 6.53% $8,345
NEWREZ LLC 21 6.20% $8,424
USAA Federal Savings Bank 18 6.13% $6,839
NAVY FEDERAL CREDIT UNION 18 5.77% $5,375
PLANET HOME LENDING, LLC 13 6.08% $5,637
NEW DAY FINANCIAL, LLC 12 7.51% $9,881
LAKEVIEW LOAN SERVICING, LLC 10 5.98% $5,148
CROSSCOUNTRY MORTGAGE, LLC 10 6.31% $6,973
FIRST COMMUNITY MORTGAGE, INC. 10 6.75% $5,940
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.37% $9,166
LOANDEPOT.COM, LLC 9 6.36% $5,436
SUCCESS MORTGAGE PARTNERS, INC. 8 7.03% $10,278
NORTHERN MORTGAGE SERVICES, LLC 8 6.47% $7,954
GUARANTEED RATE, INC. 7 6.08% $3,934
The Huntington National Bank 7 6.59% $3,696
ROSS MORTGAGE CORPORATION 7 6.95% $6,060
Independent Bank 6 5.96% $3,491
BROKER SOLUTIONS, INC. 6 6.92% $11,070
GUILD MORTGAGE COMPANY 6 6.60% $7,092
Barrington Bank & Trust Company, N.A. 5 6.20% $6,828
Fifth Third Bank 5 6.25% $5,996
The Dart Bank 5 5.75% $7,890
AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.63% $7,995
UNION HOME MORTGAGE CORP. 5 6.87% $5,725
MUTUAL OF OMAHA MORTGAGE, INC. 5 5.75% $15,384
Magnolia Bank 4 5.75% $16,854
TOWNE MORTGAGE COMPANY 4 6.62% $10,825
MICHIGAN FIRST CREDIT UNION 4 6.19% $3,935
MMS MORTGAGE SERVICES, LTD. 4 6.97% $6,223
T2 FINANCIAL LLC 3 6.71% $10,672
Equity Prime Mortgage LLC 3 7.63% $3,763
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.75% $4,868
CMG MORTGAGE, INC. 3 5.83% $12,831
Northpointe Bank 3 6.29% $8,307
JPMorgan Chase Bank 3 6.08% $5,662
VAN DYK MORTGAGE CORPORATION 3 6.83% $3,326
Wells Fargo Bank 2 5.94% $7,050
Carrington Mortgage Services, LLC 2 5.75% $8,296
CHURCHILL MORTGAGE CORPORATION 2 5.75% $9,470
Credence Funding Corporation 2 6.12% $5,576
Flagstar Bank, FSB 2 6.94% $3,455
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.13% $8,428
GVC MORTGAGE, INC. 2 5.75% $3,319
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $10,504
Plains Commerce Bank 2 6.25% $5,807
PLAZA HOME MORTGAGE, INC. 2 7.25% $2,230
POLARIS HOME FUNDING CORP. 2 6.88% $3,882
STAUNTON FINANCIAL, INC. 2 6.62% $7,998
The Loan Store, Inc. 2 5.88% $5,382
CLEARPATH LENDING 1 4.99% $7,663
LOANPAL, LLC 1 5.63% $11,632
CARDINAL FINANCIAL 1 6.75% $2,459
PLUS RELOCATION MORTGAGE, LLC 1 6.75% $5,904
Armed Forces Bank 1 5.25% $3,117
PREMIA MORTGAGE, LLC 1 5.63% $0
Preston Home Loans Inc 1 7.25% $8,812
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.13% $2,224
RELIANCE FIRST CAPITAL, LLC 1 6.13% $9,054
INSPIRE HOME LOANS INC. 1 4.50% $15,603
RUOFF MORTGAGE COMPANY, INC. 1 6.63% $2,306
AMERICAN FINANCING CORPORATION 1 5.99% $10,651
HOMESIDE FINANCIAL, LLC 1 7.25% $23,971
SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $2,804
First Federal Bank 1 6.00% $2,270
FIRST COLONY MORTGAGE CORPORATION 1 6.75% $9,868
The Federal Savings Bank 1 6.75% $18,086
CORNERSTONE HOME LENDING, INC. 1 6.13% $11,312
AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $893
CONTOUR MORTGAGE CORPORATION 1 6.50% $6,835
Commerce Home Mortgage, Inc. 1 6.25% $3,729
NBKC BANK 1 5.63% $16,606
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.49% $11,027
MORTGAGE CENTER L.C 1 6.50% $7,526
MICHIGAN MUTUAL, INC. 1 6.25% $17,614
PHH Mortgage Corporation 1 5.63% $6,297

The top Grand Rapids VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 126 VA loans originated. Their average total fees are $6,577, which is $598 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Grand Rapids VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,148), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,246), NAVY FEDERAL CREDIT UNION ($5,375), PLANET HOME LENDING, LLC ($5,637) and FIRST COMMUNITY MORTGAGE, INC. ($5,940).

The lowest rate Grand Rapids VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.55%), VILLAGE CAPITAL MORTGAGE (5.68%), NAVY FEDERAL CREDIT UNION (5.77%), UNITED WHOLESALE MORTGAGE, LLC (5.96%) and QUICKEN LOANS, LLC (5.97%).

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.