Picayune VA Loan Rates, Closing Costs & Stats

Picayune, MS

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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.

    Picayune's 37 lenders originated 148 VA loans during 2024. The total origination value was $41,100,000, with an average VA loan value of $277,703.

    Picayune VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Picayune averaged 6.83% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Picayune's average VA mortgage closing costs are $5,596.

    The average rate for the prior week (2025-07-11) was 6.82% and one month ago for the week of 2025-06-13, the average rate was 6.69%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.44%.

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

    Picayune 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 Picayune level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 37 6.54% $6,063
    FREEDOM MORTGAGE CORPORATION 11 6.18% $7,318
    PLANET HOME LENDING, LLC 9 6.46% $8,349
    NAVY FEDERAL CREDIT UNION 9 5.99% $3,737
    QUICKEN LOANS, LLC 9 6.22% $9,151
    KEESLER 7 5.63% $4,183
    UNITED WHOLESALE MORTGAGE, LLC 6 6.65% $5,477
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.73% $6,418
    PENNYMAC LOAN SERVICES, LLC 4 5.56% $4,934
    CMG MORTGAGE, INC. 4 6.50% $6,901
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.31% $3,662
    GMFS LLC 3 6.25% $4,198
    USAA Federal Savings Bank 2 5.94% $15,782
    BancorpSouth 2 6.50% $9,532
    Barrington Bank & Trust Company, N.A. 2 6.00% $3,217
    CARDINAL FINANCIAL 2 5.44% $12,647
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $6,021
    NEW DAY FINANCIAL, LLC 2 7.00% $8,765
    NEWREZ LLC 2 6.00% $3,598
    STANDARD MORTGAGE CORPORATION 2 5.81% $11,313
    TOWNE MORTGAGE COMPANY 2 6.25% $6,425
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $3,047
    American Mortgage & Equity Consultants, Inc. 1 6.25% $4,232
    Trustmark National Bank 1 6.50% $4,983
    First Federal Bank 1 5.75% $3,525
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $4,380
    Presidential Bank, FSB 1 6.75% $21,182
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $18,982
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $2,413
    BROKER SOLUTIONS, INC. 1 7.25% $6,503
    BAYSHORE MORTGAGE FUNDING, LLC 1 5.75% $4,139
    STOCKTON MORTGAGE CORPORATION 1 6.25% $5,313
    T2 FINANCIAL LLC 1 6.75% $6,149
    LOANDEPOT.COM, LLC 1 5.63% $16,097
    LAKEVIEW LOAN SERVICING, LLC 1 6.13% $4,467
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $555
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $7,271

    The top Picayune VA lender as defined by loan originations is Mortgage Research Center, LLC, with 37 VA loans originated. Their average total fees are $6,063, which is $1,256 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Picayune VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,063), FREEDOM MORTGAGE CORPORATION ($7,318), .

    The lowest rate Picayune VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (6.18%), Mortgage Research Center, LLC (6.54%), .

    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.