Abilene VA Loans

ABILENE, TX

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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 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.

    Abilene's 90 lenders originated 1,313 VA loans during 2021. The total origination value was $305,815,000, with an average VA loan value of $232,913.

    Abilene VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Abilene averaged 5.7% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.63% and one month ago for the week of 2022-04-08, the average rate was 4.95%.

    The average rate one year ago was 3.07%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.21%.

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

    Abilene VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Abilene level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    PRIMELENDING, A PLAINSCAPITAL COMPANY 176 2.95% $7,345
    Mortgage Research Center, LLC 104 2.82% $6,444
    First Financial Bank 103 2.61% $7,135
    FREEDOM MORTGAGE CORPORATION 88 2.56% $3,287
    City Bank 67 2.85% $7,772
    GUARANTEED RATE, INC. 55 2.87% $6,777
    HOME POINT FINANCIAL CORPORATION 52 2.78% $6,011
    QUICKEN LOANS, LLC 42 2.43% $3,692
    SWBC MORTGAGE CORPORATION 40 3.14% $6,819
    PENNYMAC LOAN SERVICES, LLC 34 2.48% $5,300
    Gateway First Bank 27 2.92% $7,411
    USAA Federal Savings Bank 27 2.92% $4,911
    MORTGAGE FINANCIAL SERVICES, LLC 25 2.88% $6,459
    Mr. Cooper ( Nationstar Mortgage ) 24 2.69% $4,488
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 24 3.12% $7,875
    NAVY FEDERAL CREDIT UNION 22 2.47% $5,653
    CALIBER HOME LOANS, INC. 22 2.54% $5,346
    UNITED WHOLESALE MORTGAGE, LLC 21 2.59% $6,509
    VILLAGE CAPITAL & INVESTMENT LLC 17 2.46% $3,001
    CLEARPATH LENDING 16 2.40% $4,226
    LAKEVIEW LOAN SERVICING, LLC 15 2.62% $2,508
    NBKC BANK 15 2.59% $6,755
    GUILD MORTGAGE COMPANY 12 2.66% $4,329
    NEW DAY FINANCIAL, LLC 11 2.40% $4,880
    OPEN MORTGAGE, LLC 10 3.14% $6,485
    LOANDEPOT.COM, LLC 9 2.53% $3,256
    AMERICAN FINANCIAL NETWORK, INC. 9 2.51% $7,327
    Wells Fargo Bank 8 2.52% $3,567
    Low VA Rates, LLC 7 2.29% $4,695
    First Guaranty Mortgage Corporation 6 2.25% $4,249
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 3.01% $4,754
    AmeriHome Mortgage Company, LLC 5 2.80% $2,370
    InterContinental Capital Group, Inc 4 2.63% $5,539
    The Federal Savings Bank 4 2.56% $6,140
    SOUTHWEST STAGE FUNDING, LLC 4 3.34% $2,475
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.97% $6,800
    Republic State Mortgage Co. 4 3.00% $6,892
    MUTUAL OF OMAHA MORTGAGE, INC. 4 2.28% $6,545
    Lakeview Community Capital, LLC 4 2.41% $4,310
    ACCELERATE MORTGAGE, LLC 3 2.33% $5,683
    NP, Inc. 3 2.42% $3,053
    STEARNS LENDING, LLC 3 2.46% $8,983
    CMG MORTGAGE, INC. 3 2.42% $4,300
    PHH Mortgage Corporation 2 2.63% $4,052
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.38% $8,310
    AMERICAN FINANCING CORPORATION 2 2.56% $4,629
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.88% $7,407
    Barrington Bank & Trust Company, N.A. 2 2.97% $2,991
    BNC National Bank 2 2.25% $3,089
    Carrington Mortgage Services, LLC 2 3.63% $9,829
    CHURCHILL MORTGAGE CORPORATION 2 3.00% $5,828
    Commerce Home Mortgage, Inc. 2 2.50% $3,759
    COUNTRYPLACE MORTGAGE, LTD. 2 3.63% $7,198
    JAMES B. NUTTER & COMPANY 2 2.63% $2,369
    KELLER MORTGAGE, LLC 2 2.75% $3,065
    NBH Bank 2 2.37% $2,942
    MID AMERICA MORTGAGE, INC. 1 3.88% $4,846
    LOANPAL, LLC 1 2.63% $3,490
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $6,915
    LENDUS, LLC 1 2.38% $14,339
    AMCAP MORTGAGE, LTD. 1 3.25% $8,346
    J. VIRGIL, INC. 1 3.75% $9,785
    INTERCAP LENDING INC. 1 2.63% $10,653
    North American Savings Bank, F.S.B. 1 2.50% $9,563
    HOMESIDE FINANCIAL, LLC 1 3.75% $14,404
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.49% $1,771
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.25% $4,974
    GMFS LLC 1 2.88% $9,720
    PLANET HOME LENDING, LLC 1 2.50% $10,893
    PLAZA HOME MORTGAGE, INC. 1 2.63% $2,712
    FLAT BRANCH MORTGAGE, INC. 1 3.00% $4,316
    First United Bank and Trust Company 1 3.00% $12,873
    First National Bank 1 2.25% $4,159
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.75% $3,877
    Equity Prime Mortgage LLC 1 2.75% $4,250
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $7,964
    CROSSCOUNTRY MORTGAGE, LLC 1 2.63% $10,199
    Strong Home Mortgage, LLC 1 2.38% $1,798
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $4,326
    COMMUNITIES OF ABILENE FEDERAL CREDIT UNION 1 2.88% $4,431
    TEXAS TECH 1 2.75% $13,346
    Century Mortgage Company DBA Century Lending Company 1 3.25% $9,741
    Truist Bank 1 2.75% $2,727
    UNION HOME MORTGAGE CORP. 1 2.25% $10,543
    BROKER SOLUTIONS, INC. 1 2.75% $9,963
    Armed Forces Bank 1 2.25% $4,055
    U.S. Bank 1 2.50% $6,788
    AMPLIFY 1 2.50% $13,389
    Wallick & Volk, Inc. 1 2.25% $5,498
    MOVEMENT MORTGAGE, LLC 1 3.13% $3,772

    The top Abilene VA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 176 VA loans originated. Their average total fees are $7,345, which is $901 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Abilene VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,508), VILLAGE CAPITAL & INVESTMENT LLC ($3,001), FREEDOM MORTGAGE CORPORATION ($3,287), QUICKEN LOANS, LLC ($3,692) and CLEARPATH LENDING ($4,226).

    The lowest rate Abilene VA lenders (with over 10 loans originated) are NEW DAY FINANCIAL, LLC (2.40%), CLEARPATH LENDING (2.40%), QUICKEN LOANS, LLC (2.43%), VILLAGE CAPITAL & INVESTMENT LLC (2.46%) and NAVY FEDERAL CREDIT UNION (2.47%).

    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.