Roanoke VA Loan Rates, Closing Costs & Stats
ROANOKE, VA
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.
Roanoke's 72 lenders originated 508 VA
loans during 2024. The total origination value was $160,280,000, with an average VA loan value of
$315,512.
Roanoke VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Roanoke
averaged
6.81%
for the week of 2025-07-18, compared to the national average (all VA variants) of
6.385% for the same period.
Roanoke's average VA mortgage closing costs are $5,682.
The average rate for the prior week (2025-07-11) was
6.7% and
one month ago for the week of 2025-06-13, the
average rate was 7.17%.
The average rate one year ago was 6.77%.
For refis of the same type during the week of 2025-07-18, the average rate
was 6.99%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Roanoke 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 Roanoke level.
Name |
# of Loans |
2024 Avg. 30yFix Rate |
2024 Avg. Closing Costs |
Mortgage Research Center, LLC
|
98
|
6.36%
|
$5,646
|
QUICKEN LOANS, LLC
|
53
|
6.13%
|
$9,086
|
UNITED WHOLESALE MORTGAGE, LLC
|
38
|
5.86%
|
$5,264
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
27
|
6.30%
|
$7,142
|
FREEDOM MORTGAGE CORPORATION
|
26
|
6.03%
|
$6,803
|
Alcova Mortgage LLC
|
19
|
6.39%
|
$5,374
|
VILLAGE CAPITAL MORTGAGE
|
16
|
5.82%
|
$7,941
|
UNION HOME MORTGAGE CORP.
|
15
|
6.40%
|
$8,197
|
NAVY FEDERAL CREDIT UNION
|
13
|
5.97%
|
$4,584
|
USAA Federal Savings Bank
|
11
|
6.20%
|
$6,171
|
MOVEMENT MORTGAGE, LLC
|
10
|
6.48%
|
$5,407
|
PENNYMAC LOAN SERVICES, LLC
|
9
|
5.71%
|
$7,883
|
LOANDEPOT.COM, LLC
|
8
|
5.58%
|
$10,442
|
NEW DAY FINANCIAL, LLC
|
8
|
7.62%
|
$12,555
|
Atlantic Union Bank
|
7
|
6.63%
|
$6,332
|
The Federal Savings Bank
|
7
|
6.14%
|
$18,399
|
SWBC MORTGAGE CORPORATION
|
6
|
6.10%
|
$8,730
|
GUILD MORTGAGE COMPANY
|
5
|
6.30%
|
$8,105
|
NEWREZ LLC
|
5
|
6.05%
|
$4,675
|
FREEDOM FIRST
|
5
|
6.23%
|
$6,277
|
Prosperity Home Mortgage, LLC
|
5
|
6.30%
|
$8,161
|
First Federal Bank
|
4
|
6.00%
|
$5,109
|
Plains Commerce Bank
|
4
|
6.41%
|
$11,111
|
BROKER SOLUTIONS, INC.
|
4
|
6.62%
|
$12,938
|
GUARANTEED RATE, INC.
|
4
|
6.47%
|
$6,590
|
First Heritage Mortgage, LLC
|
4
|
5.97%
|
$9,150
|
FIRST COMMUNITY MORTGAGE, INC.
|
4
|
5.97%
|
$6,080
|
AMERICAN FINANCIAL NETWORK, INC.
|
4
|
6.28%
|
$7,329
|
Mid-Continent Funding, Inc.
|
3
|
6.33%
|
$4,612
|
Truist
|
3
|
5.97%
|
$5,232
|
PLANET HOME LENDING, LLC
|
3
|
5.66%
|
$3,096
|
SUN WEST MORTGAGE COMPANY, INC.
|
3
|
6.13%
|
$10,728
|
NBKC BANK
|
2
|
6.06%
|
$4,186
|
Carrington Mortgage Services, LLC
|
2
|
6.44%
|
$6,441
|
HOMESIDE FINANCIAL, LLC
|
2
|
6.13%
|
$6,589
|
Magnolia Bank
|
2
|
6.13%
|
$18,853
|
CLEARPATH LENDING
|
2
|
6.25%
|
$8,666
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
2
|
6.50%
|
$2,357
|
Keystone Funding, Inc.
|
2
|
6.50%
|
$21,178
|
Wells Fargo Bank
|
1
|
6.13%
|
$6,389
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.75%
|
$1,027
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
1
|
6.99%
|
$4,342
|
AmeriHome Mortgage Company, LLC
|
1
|
6.50%
|
$3,745
|
AMERISAVE MORTGAGE CORPORATION
|
1
|
6.50%
|
$28,004
|
CARDINAL FINANCIAL
|
1
|
6.75%
|
$12,684
|
C & F Mortgage Corporation
|
1
|
5.75%
|
$3,921
|
CMG MORTGAGE, INC.
|
1
|
5.63%
|
$13,314
|
CROSSCOUNTRY MORTGAGE, LLC
|
1
|
6.25%
|
$18,455
|
EMBRACE HOME LOANS, INC.
|
1
|
5.99%
|
$16,507
|
Equity Prime Mortgage LLC
|
1
|
8.25%
|
$1,274
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
1
|
6.25%
|
$10,368
|
First-Citizens Bank & Trust Company
|
1
|
5.75%
|
$8,699
|
FIRST COLONY MORTGAGE CORPORATION
|
1
|
6.63%
|
$3,905
|
First Reliance Bank
|
1
|
5.88%
|
$8,862
|
GUARANTEED RATE AFFINITY, LLC
|
1
|
5.65%
|
$11,742
|
HOMESPIRE MORTGAGE CORPORATION
|
1
|
6.63%
|
$8,402
|
LOANPAL, LLC
|
1
|
5.88%
|
$15,646
|
MEMBER ADVANTAGE MORTGAGE, LLC
|
1
|
7.13%
|
$3,581
|
Meridian Bank Corporation
|
1
|
6.25%
|
$17,335
|
Mr. Cooper ( Nationstar Mortgage )
|
1
|
5.75%
|
$7,739
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
6.13%
|
$600
|
Nations Lending Corporation
|
1
|
6.75%
|
$18,368
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
6.38%
|
$4,395
|
PHH Mortgage Corporation
|
1
|
6.49%
|
$11,543
|
PNC Bank
|
1
|
6.50%
|
$9,779
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
5.75%
|
$5,920
|
Renasant Bank
|
1
|
6.25%
|
$11,462
|
ROSS MORTGAGE CORPORATION
|
1
|
7.25%
|
$8,527
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
5.88%
|
$7,557
|
T2 FINANCIAL LLC
|
1
|
6.25%
|
$6,880
|
TJC Mortgage, Inc.
|
1
|
4.63%
|
$15,715
|
Waterstone Mortgage Corporation
|
1
|
7.75%
|
$5,372
|
The top Roanoke VA lender as defined by loan originations is Mortgage Research Center, LLC, with
98 VA loans originated. Their average total fees are
$5,646, which is $3,440
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Roanoke VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($4,584), UNITED WHOLESALE MORTGAGE, LLC ($5,264), Alcova Mortgage LLC ($5,374), MOVEMENT MORTGAGE, LLC ($5,407) and Mortgage Research Center, LLC ($5,646).
The lowest rate Roanoke VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (5.82%), UNITED WHOLESALE MORTGAGE, LLC (5.86%), NAVY FEDERAL CREDIT UNION (5.97%), FREEDOM MORTGAGE CORPORATION (6.03%) and QUICKEN LOANS, LLC (6.13%).
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.