Abilene VA Loans

ABILENE, TX

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.