Lafayette VA Loan Rates, Closing Costs & Stats

LAFAYETTE-WEST LAFAYETTE, IN

  • 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.

    Lafayette's 60 lenders originated 237 VA loans during 2024. The total origination value was $72,235,000, with an average VA loan value of $304,789.

    Lafayette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lafayette averaged 7.06% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Lafayette's average VA mortgage closing costs are $5,422.

    The average rate for the prior week (2025-07-11) was 7.05% and one month ago for the week of 2025-06-13, the average rate was 7.23%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.71%.

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

    Lafayette 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 Lafayette level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.14% $5,564
    UNITED WHOLESALE MORTGAGE, LLC 25 6.13% $7,884
    QUICKEN LOANS, LLC 14 6.25% $7,813
    FREEDOM MORTGAGE CORPORATION 12 5.95% $11,381
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.60% $8,793
    USAA Federal Savings Bank 10 6.29% $4,571
    NAVY FEDERAL CREDIT UNION 8 5.55% $7,845
    PENNYMAC LOAN SERVICES, LLC 7 5.64% $4,050
    The Federal Savings Bank 6 6.35% $17,433
    RUOFF MORTGAGE COMPANY, INC. 6 6.42% $3,258
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 6.45% $6,143
    VILLAGE CAPITAL MORTGAGE 4 5.81% $6,147
    First Merchants Bank 4 6.34% $9,291
    HALLMARK HOME MORTGAGE, LLC 4 6.75% $7,559
    CROSSCOUNTRY MORTGAGE, LLC 3 6.33% $7,355
    NEW DAY FINANCIAL, LLC 3 7.33% $8,328
    CALCON MUTUAL MORTGAGE LLC 3 6.71% $9,621
    Prosperity Home Mortgage, LLC 3 6.66% $6,831
    HOMESIDE FINANCIAL, LLC 3 6.25% $9,504
    LAKEVIEW LOAN SERVICING, LLC 3 6.16% $4,817
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.21% $12,559
    CLEARPATH LENDING 3 5.58% $3,903
    AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $5,601
    Carrington Mortgage Services, LLC 2 5.81% $17,632
    FAIR WAY LENDING LLC 2 7.44% $3,965
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $12,735
    PLANET HOME LENDING, LLC 2 6.06% $2,827
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 4.94% $7,692
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.25% $6,613
    AmeriHome Mortgage Company, LLC 2 6.06% $4,629
    Wells Fargo Bank 1 7.13% $1,850
    BETTER MORTGAGE CORPORATION 1 6.13% $5,396
    BROKER SOLUTIONS, INC. 1 6.25% $4,603
    CARDINAL FINANCIAL 1 7.75% $18,485
    Centier Bank 1 5.63% $0
    DAS Acquisition Company, LLC 1 6.75% $3,184
    Fifth Third Bank 1 5.75% $3,902
    First Federal Bank 1 5.63% $2,097
    First Financial Bank 1 7.13% $2,749
    First Option Mortgage, LLC 1 6.63% $9,142
    FIRST STATE MORTGAGE SERVICES, LLC 1 6.99% $2,465
    FLAT BRANCH MORTGAGE, INC. 1 6.50% $5,835
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $6,615
    GUILD MORTGAGE COMPANY 1 6.63% $8,193
    GVC MORTGAGE, INC. 1 6.63% $8,158
    LOANDEPOT.COM, LLC 1 6.50% $10,710
    LOANPAL, LLC 1 5.63% $10,285
    Magnolia Bank 1 5.99% $8,065
    MILESTONE HOME LENDING, LLC 1 6.25% $14,331
    MJW Financial LLC 1 7.25% $1,310
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $18,538
    NEWREZ LLC 1 5.75% $14,525
    NFM, INC. 1 6.50% $8,880
    Old National Bank 1 6.13% $10,418
    OPEN MORTGAGE, LLC 1 6.63% $10,057
    ROYAL UNITED MORTGAGE LLC 1 7.25% $5,684
    Service Federal Credit Union 1 6.50% $2,809
    STOCKTON MORTGAGE CORPORATION 1 7.25% $9,140
    Texana Bank 1 6.13% $843
    VERITAS FUNDING, LLC 1 6.25% $13,311

    The top Lafayette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $5,564, which is $2,320 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lafayette VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($4,571), Mortgage Research Center, LLC ($5,564), QUICKEN LOANS, LLC ($7,813), UNITED WHOLESALE MORTGAGE, LLC ($7,884) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,793).

    The lowest rate Lafayette VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (5.95%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), Mortgage Research Center, LLC (6.14%), QUICKEN LOANS, LLC (6.25%) and USAA Federal Savings Bank (6.29%).

    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.