Mount Sterling VA Loan Rates, Closing Costs & Stats

Mount Sterling, KY

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    • 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.

    Mount Sterling's 29 lenders originated 77 VA loans during 2024. The total origination value was $20,205,000, with an average VA loan value of $262,403.

    Mount Sterling VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mount Sterling averaged 6.92% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Mount Sterling's average VA mortgage closing costs are $5,113.

    The average rate for the prior week (2025-07-11) was 6.81% and one month ago for the week of 2025-06-13, the average rate was 6.78%.

    The average rate one year ago was 6.98%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.29%.

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

    Mount Sterling 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 Mount Sterling level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 23 6.52% $4,480
    UNITED WHOLESALE MORTGAGE, LLC 5 6.75% $8,118
    QUICKEN LOANS, LLC 4 6.50% $7,997
    PENNYMAC LOAN SERVICES, LLC 4 5.56% $5,870
    Republic State Mortgage Co. 4 6.72% $8,042
    NEWREZ LLC 3 5.79% $4,985
    Prosperity Home Mortgage, LLC 2 5.75% $8,158
    PLANET HOME LENDING, LLC 2 5.75% $4,557
    Mr. Cooper ( Nationstar Mortgage ) 2 6.19% $9,265
    Stock Yards Bank & Trust Company 2 6.56% $3,185
    FREEDOM MORTGAGE CORPORATION 2 6.12% $3,250
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $15,121
    Bank of England 2 6.88% $14,021
    VILLAGE CAPITAL MORTGAGE 2 5.87% $4,324
    USAA Federal Savings Bank 1 6.75% $2,738
    NEW DAY FINANCIAL, LLC 1 7.50% $19,103
    AmRes Corporation 1 6.99% $5,749
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $4,945
    Barrington Bank & Trust Company, N.A. 1 6.25% $10,041
    DAS Acquisition Company, LLC 1 6.75% $5,962
    Equity Prime Mortgage LLC 1 6.75% $7,851
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $1,669
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $100
    NAVY FEDERAL CREDIT UNION 1 5.63% $1,808
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $4,988
    Peoples Exchange Bank 1 6.50% $2,639
    Plains Commerce Bank 1 6.00% $14,215
    STOCKTON MORTGAGE CORPORATION 1 5.25% $7,979
    UNION HOME MORTGAGE CORP. 1 6.00% $3,683

    The top Mount Sterling VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $4,480, which is $3,638 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Mount Sterling VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,480), .

    The lowest rate Mount Sterling VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.52%), .

    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.