Amarillo VA Loans

AMARILLO, 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.

    Amarillo's 95 lenders originated 814 VA loans during 2021. The total origination value was $204,650,000, with an average VA loan value of $251,413.

    Amarillo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Amarillo averaged 5.62% 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 5.75% and one month ago for the week of 2022-04-08, the average rate was 5.37%.

    The average rate one year ago was 2.99%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.4%.

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

    Amarillo 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 Amarillo level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 107 2.95% $5,119
    FREEDOM MORTGAGE CORPORATION 52 2.46% $2,808
    Amarillo National Bank 52 2.56% $7,879
    QUICKEN LOANS, LLC 50 2.48% $5,116
    USAA Federal Savings Bank 35 2.83% $5,486
    ASSOCIATED MORTGAGE CORPORATION 34 2.80% $7,651
    AMCAP MORTGAGE, LTD. 29 3.09% $9,171
    PENNYMAC LOAN SERVICES, LLC 24 2.54% $4,909
    NATIONS RELIABLE LENDING, LLC 24 3.27% $7,902
    VILLAGE CAPITAL & INVESTMENT LLC 23 2.49% $2,578
    CALIBER HOME LOANS, INC. 19 2.45% $2,568
    Happy State Bank 18 2.49% $9,378
    Mr. Cooper ( Nationstar Mortgage ) 16 2.94% $4,613
    CLEARPATH LENDING 13 2.27% $3,924
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 3.05% $3,347
    NAVY FEDERAL CREDIT UNION 12 2.51% $6,510
    NEW DAY FINANCIAL, LLC 12 2.35% $4,793
    EUSTIS AND AMERICAN MORTGAGE COMPANY 11 3.06% $7,224
    First United Bank 10 2.54% $9,812
    LAKEVIEW LOAN SERVICING, LLC 8 2.59% $3,031
    Barrington Bank & Trust Company, N.A. 8 2.77% $3,104
    PENTAGON FEDERAL CREDIT UNION 8 2.28% $6,931
    Gateway First Bank 8 2.72% $3,829
    UNITED WHOLESALE MORTGAGE, LLC 7 2.64% $6,417
    Wells Fargo Bank 5 2.40% $8,438
    LOANDEPOT.COM, LLC 5 2.45% $3,833
    Low VA Rates, LLC 5 2.50% $4,606
    Network Funding, L.P. 4 3.25% $3,216
    GUARANTEED RATE, INC. 4 2.97% $2,491
    First Guaranty Mortgage Corporation 4 2.69% $3,865
    CMG MORTGAGE, INC. 4 2.81% $7,791
    NEWREZ LLC 4 2.69% $3,384
    NP, Inc. 3 2.25% $3,935
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.42% $5,035
    Lakeview Community Capital, LLC 3 2.42% $1,969
    AMERICAN FINANCIAL NETWORK, INC. 3 2.33% $7,879
    PLANET HOME LENDING, LLC 3 2.25% $2,258
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.81% $10,999
    EVERETT FINANCIAL, INC. 2 2.94% $11,329
    MID AMERICA MORTGAGE, INC. 2 2.50% $2,184
    Magnolia Bank 2 2.56% $4,313
    AMERISAVE MORTGAGE CORPORATION 2 2.38% $8,051
    PLAZA HOME MORTGAGE, INC. 2 2.43% $3,331
    PREMIER LENDING, INC. 2 2.88% $7,961
    SIWELL, INC. 2 2.69% $4,484
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.69% $3,297
    The Federal Savings Bank 2 2.25% $11,187
    Paramount Residential Mortgage Group, Inc. 2 2.81% $10,290
    UNIVERSAL LENDING CORPORATION 2 2.69% $5,680
    BROKER SOLUTIONS, INC. 2 2.50% $3,022
    HOME POINT FINANCIAL CORPORATION 2 2.81% $8,918
    NBKC BANK 2 2.25% $10,376
    FEDEX EMPLOYEES CREDIT ASSOCIATION 2 3.00% $14,025
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.00% $5,651
    ACCELERATE MORTGAGE, LLC 1 2.25% $6,981
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.25% $935
    Arvest Bank 1 2.50% $7,677
    BNC National Bank 1 2.38% $7,777
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.00% $3,076
    CHURCHILL MORTGAGE CORPORATION 1 2.38% $2,097
    City Bank 1 2.31% $8,954
    CORNERSTONE HOME LENDING, INC. 1 2.75% $5,504
    Credence Funding Corporation 1 2.25% $1,108
    EMBRACE HOME LOANS, INC. 1 2.38% $4,338
    Evolve Bank & Trust 1 2.88% $3,703
    First Bank 1 2.75% $1,246
    First Financial Bank 1 2.50% $4,568
    First Mortgage Solutions, LLC 1 2.25% $3,442
    FirstTrust Home Loans, Inc. 1 2.88% $1,400
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 2.25% $6,027
    GUILD MORTGAGE COMPANY 1 2.50% $18,220
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.13% $4,506
    INFINITY MORTGAGE HOLDINGS, LLC 1 2.75% $3,346
    KELLER MORTGAGE, LLC 1 2.25% $13,286
    KS StateBank 1 2.25% $178
    LENDING 3, INC. 1 2.25% $3,938
    Manufacturers and Traders Trust Company 1 2.63% $3,090
    Mid-Continent Funding, Inc. 1 2.88% $1,534
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.75% $3,097
    ACADEMY MORTGAGE CORPORATION 1 2.75% $2,661
    North American Savings Bank, F.S.B. 1 3.50% $844
    OPEN MORTGAGE, LLC 1 2.75% $8,918
    PILGRIM MORTGAGE LLC 1 2.25% $4,528
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.99% $9,252
    Republic State Mortgage Co. 1 2.75% $16,443
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $16,402
    S1L, Inc. 1 2.99% $7,583
    SIRVA MORTGAGE, INC. 1 2.88% $7,451
    TEXAS TECH 1 2.75% $4,121
    THRIVE MORTGAGE, LLC 1 3.00% $10,131
    TJC Mortgage, Inc. 1 2.25% $595
    Truist Bank 1 2.70% $1,627
    United Fidelity Funding Corp. 1 3.25% $14,742
    UNITED MORTGAGE CORP. 1 2.75% $5,523
    Wyndham Capital Mortgage, Inc. 1 2.25% $2,672

    The top Amarillo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 107 VA loans originated. Their average total fees are $5,119, which is $2,311 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Amarillo VA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($2,568), VILLAGE CAPITAL & INVESTMENT LLC ($2,578), FREEDOM MORTGAGE CORPORATION ($2,808), PRIMELENDING, A PLAINSCAPITAL COMPANY ($3,347) and CLEARPATH LENDING ($3,924).

    The lowest rate Amarillo VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.27%), NEW DAY FINANCIAL, LLC (2.35%), CALIBER HOME LOANS, INC. (2.45%), FREEDOM MORTGAGE CORPORATION (2.46%) and QUICKEN LOANS, LLC (2.48%).

    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.