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.