Niles VA Loan Rates, Closing Costs & Stats

NILES, MI

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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.

    Niles's 45 lenders originated 153 VA loans during 2024. The total origination value was $43,715,000, with an average VA loan value of $285,719.

    Niles VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Niles averaged 6.91% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Niles's average VA mortgage closing costs are $5,443.

    The average rate for the prior week (2025-07-11) was 6.99% and one month ago for the week of 2025-06-13, the average rate was 6.97%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2025-07-18, the average rate was 7.04%.

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

    Niles 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 Niles level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 26 6.55% $6,661
    UNITED WHOLESALE MORTGAGE, LLC 14 5.99% $8,628
    QUICKEN LOANS, LLC 12 6.03% $9,985
    FREEDOM MORTGAGE CORPORATION 9 6.50% $6,974
    UNION HOME MORTGAGE CORP. 9 6.35% $10,967
    NAVY FEDERAL CREDIT UNION 7 5.98% $3,336
    PENNYMAC LOAN SERVICES, LLC 5 5.72% $13,313
    RUOFF MORTGAGE COMPANY, INC. 5 6.58% $2,980
    GUARANTEED RATE, INC. 5 6.42% $2,282
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.69% $9,641
    Mr. Cooper ( Nationstar Mortgage ) 4 6.94% $7,597
    LOANDEPOT.COM, LLC 4 5.93% $13,671
    NEW DAY FINANCIAL, LLC 4 7.37% $12,530
    VILLAGE CAPITAL MORTGAGE 3 6.08% $3,350
    Flagstar Bank, FSB 2 6.81% $7,064
    CLEARPATH LENDING 2 6.25% $15,769
    Fifth Third Bank 2 6.44% $1,407
    HALLMARK HOME MORTGAGE, LLC 2 6.50% $13,208
    PLANET HOME LENDING, LLC 2 5.88% $4,721
    USAA Federal Savings Bank 2 6.44% $11,566
    INSPIRE HOME LOANS INC. 1 6.00% $6,997
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    Independent Bank 1 6.25% $3,693
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $38,124
    GUILD MORTGAGE COMPANY 1 6.75% $12,744
    1st Source Bank 1 7.13% $5,296
    First Federal Bank 1 5.50% $3,035
    ALLIED MORTGAGE GROUP, INC. 1 7.13% $4,134
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $5,664
    PROPER RATE, LLC 1 6.25% $60
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $15,123
    Credence Funding Corporation 1 4.88% $5,361
    STAUNTON FINANCIAL, INC. 1 7.00% $2,223
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $16,582
    SUMMIT HOME MORTGAGE, LLC 1 5.75% $11,438
    The Federal Savings Bank 1 6.75% $9,089
    TOP FLITE FINANCIAL, INC. 1 6.63% $14,053
    TOWNE MORTGAGE COMPANY 1 6.63% $7,662
    Carrington Mortgage Services, LLC 1 6.00% $5,738
    UNITED 1 6.75% $17,399
    CARDINAL FINANCIAL 1 7.25% $9,729
    Wells Fargo Bank 1 6.50% $4,353
    VAN DYK MORTGAGE CORPORATION 1 6.13% $3,555
    JPMorgan Chase Bank 1 7.00% $5,866
    LOANPAL, LLC 1 5.88% $11,880

    The top Niles VA lender as defined by loan originations is Mortgage Research Center, LLC, with 26 VA loans originated. Their average total fees are $6,661, which is $1,967 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Niles VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,661), UNITED WHOLESALE MORTGAGE, LLC ($8,628), QUICKEN LOANS, LLC ($9,985), .

    The lowest rate Niles VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.99%), QUICKEN LOANS, LLC (6.03%), Mortgage Research Center, LLC (6.55%), .

    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.