Amarillo VA Loan Rates, Closing Costs & Stats

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 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.

    Amarillo's 57 lenders originated 320 VA loans during 2023. The total origination value was $95,450,000, with an average VA loan value of $298,281.

    Amarillo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Amarillo averaged 7.15% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Amarillo's average VA mortgage closing costs are $6,039.

    The average rate for the prior week (2024-04-12) was 7.08% and one month ago for the week of 2024-03-15, the average rate was 6.84%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.84%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Amarillo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 66 6.67% $6,917
    Amarillo National Bank 30 6.19% $7,464
    ASSOCIATED MORTGAGE CORPORATION 17 6.57% $8,108
    AMCAP MORTGAGE, LTD. 14 6.80% $9,180
    CARDINAL FINANCIAL 14 6.65% $10,584
    NAVY FEDERAL CREDIT UNION 13 5.89% $6,745
    TEXAS TECH 11 6.06% $5,302
    USAA Federal Savings Bank 9 6.38% $6,489
    QUICKEN LOANS, LLC 9 6.09% $9,814
    PREMIER LENDING, INC. 9 6.58% $9,415
    NATIONS RELIABLE LENDING, LLC 8 6.31% $14,332
    EUSTIS AND AMERICAN MORTGAGE COMPANY 8 6.67% $7,576
    PENNYMAC LOAN SERVICES, LLC 7 5.34% $9,372
    EVERETT FINANCIAL, INC. 7 6.82% $5,457
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.26% $10,400
    SECURITYNATIONAL MORTGAGE COMPANY 4 7.03% $10,048
    First United Bank 4 6.53% $5,950
    UNITED WHOLESALE MORTGAGE, LLC 4 6.16% $4,993
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.38% $7,326
    GUARANTEED RATE, INC. 3 6.54% $3,097
    JMAC LENDING, INC. 3 6.79% $13,922
    VILLAGE CAPITAL MORTGAGE 3 5.58% $7,389
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.75% $2,063
    Plains Commerce Bank 3 5.92% $13,844
    THE MORTGAGE LINK, INC. 2 6.19% $7,891
    Paramount Residential Mortgage Group, Inc. 2 7.00% $4,293
    PILGRIM MORTGAGE LLC 2 6.62% $6,819
    FREEDOM MORTGAGE CORPORATION 2 7.00% $6,058
    NEW DAY FINANCIAL, LLC 2 7.25% $4,725
    Wells Fargo Bank 2 6.06% $4,920
    GUILD MORTGAGE COMPANY 2 6.50% $10,086
    LOANDEPOT.COM, LLC 2 7.13% $8,646
    CMG MORTGAGE, INC. 2 6.06% $8,056
    NTFN, INC. 1 7.25% $5,822
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $21,730
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.85% $8,953
    Barrington Bank & Trust Company, N.A. 1 5.63% $6,301
    Bell Bank 1 5.75% $5,110
    CALIBER HOME LOANS, INC. 1 5.75% $6,239
    Centennial Bank 1 6.75% $4,803
    Community First National Bank 1 7.25% $12,543
    CORNERSTONE HOME LENDING, INC. 1 6.25% $30,963
    CROSSCOUNTRY MORTGAGE, LLC 1 4.99% $12,087
    Equity Prime Mortgage LLC 1 7.75% $13,599
    First National Bank Texas 1 5.25% $24,492
    GENEVA FINANCIAL, LLC 1 6.63% $2,465
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.63% $28,214
    Mid-Continent Funding, Inc. 1 6.50% $4,686
    NBKC BANK 1 5.63% $2,594
    NEWREZ LLC 1 5.13% $7,464
    PENTAGON FEDERAL CREDIT UNION 1 5.38% $2,919
    PLANET HOME LENDING, LLC 1 5.63% $6,696
    Strong Home Mortgage, LLC 1 5.63% $7,935
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $5,727
    Trinity Oaks Mortgage, LLC 1 7.25% $10,255
    United Fidelity Funding Corp. 1 6.88% $7,914
    WesBanco 1 5.00% $7,199

    The top Amarillo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 66 VA loans originated. Their average total fees are $6,917, which is $547 lower than the next largest lender, Amarillo National Bank.

    The lowest fee Amarillo VA lenders (with over 10 loans originated) are TEXAS TECH ($5,302), NAVY FEDERAL CREDIT UNION ($6,745), Mortgage Research Center, LLC ($6,917), Amarillo National Bank ($7,464) and ASSOCIATED MORTGAGE CORPORATION ($8,108).

    The lowest rate Amarillo VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.89%), TEXAS TECH (6.06%), Amarillo National Bank (6.19%), ASSOCIATED MORTGAGE CORPORATION (6.57%) and CARDINAL FINANCIAL (6.65%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Amarillo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $218,975 (9.5%) $298,124 (8.6%) 0.81 1,018
    2018-02-01 $225,250 (9.9%) $298,518 (9.3%) 0.82 1,023
    2018-03-01 $225,000 (6.2%) $303,151 (10.3%) 0.79 1,017
    2018-04-01 $231,450 (8.0%) $306,502 (8.4%) 0.78 1,016
    2018-05-01 $236,700 (8.7%) $309,283 (6.7%) 0.79 1,083
    2018-06-01 $238,900 (8.9%) $311,231 (7.4%) 0.80 1,144
    2018-07-01 $238,600 (8.5%) $310,106 (9.6%) 0.80 1,202
    2018-08-01 $236,200 (7.5%) $307,728 (8.5%) 0.79 1,215
    2018-09-01 $234,900 (9.3%) $306,618 (9.0%) 0.79 1,191
    2018-10-01 $234,850 (9.7%) $305,584 (7.4%) 0.80 1,235
    2018-11-01 $235,950 (10.0%) $302,984 (5.9%) 0.80 1,228
    2018-12-01 $233,613 (8.7%) $302,514 (3.2%) 0.81 1,193
    2019-01-01 $227,700 (4.0%) $294,781 (-1.1%) 0.79 1,136
    2019-02-01 $235,450 (4.5%) $299,664 (0.4%) 0.80 1,135
    2019-03-01 $240,286 (6.8%) $305,008 (0.6%) 0.79 1,126
    2019-04-01 $243,500 (5.2%) $305,647 (-0.3%) 0.77 1,116
    2019-05-01 $248,975 (5.2%) $314,697 (1.8%) 0.78 1,091
    2019-06-01 $244,950 (2.5%) $311,815 (0.2%) 0.77 1,140
    2019-07-01 $239,475 (0.4%) $312,099 (0.6%) 0.75 1,129
    2019-08-01 $239,616 (1.5%) $310,531 (0.9%) 0.76 1,103
    2019-09-01 $239,115 (1.8%) $306,885 (0.1%) 0.77 1,065
    2019-10-01 $237,363 (1.1%) $304,455 (-0.4%) 0.77 1,037
    2019-11-01 $234,700 (-0.5%) $306,651 (1.2%) 0.77 966
    2019-12-01 $229,450 (-1.8%) $302,064 (-0.2%) 0.77 937
    2020-01-01 $227,344 (-0.2%) $300,875 (2.1%) 0.76 862
    2020-02-01 $239,925 (1.9%) $317,160 (5.8%) 0.79 864
    2020-03-01 $260,372 (8.4%) $334,361 (9.6%) 0.82 808
    2020-04-01 $269,450 (10.7%) $333,321 (9.1%) 0.84 787
    2020-05-01 $279,000 (12.1%) $344,382 (9.4%) 0.85 771
    2020-06-01 $281,200 (14.8%) $353,522 (13.4%) 0.83 729
    2020-07-01 $279,472 (16.7%) $353,564 (13.3%) 0.81 665
    2020-08-01 $272,268 (13.6%) $351,797 (13.3%) 0.78 604
    2020-09-01 $274,950 (15.0%) $353,128 (15.1%) 0.79 594
    2020-10-01 $275,000 (15.9%) $355,429 (16.7%) 0.79 583
    2020-11-01 $279,800 (19.2%) $354,693 (15.7%) 0.82 571
    2020-12-01 $279,685 (21.9%) $360,706 (19.4%) 0.83 509
    2021-01-01 $275,900 (21.4%) $364,537 (21.2%) 0.82 459
    2021-02-01 $317,375 (32.3%) $412,383 (30.0%) 0.92 370
    2021-03-01 $334,875 (28.6%) $436,602 (30.6%) 0.95 330
    2021-04-01 $340,440 (26.4%) $440,938 (32.3%) 0.92 334
    2021-05-01 $325,250 (16.6%) $436,979 (26.9%) 0.86 305
    2021-06-01 $306,250 (8.9%) $406,486 (15.0%) 0.81 368
    2021-07-01 $299,900 (7.3%) $399,773 (13.1%) 0.79 401
    2021-08-01 $288,975 (6.1%) $397,666 (13.0%) 0.77 407
    2021-09-01 $288,450 (4.9%) $393,456 (11.4%) 0.77 405
    2021-10-01 $305,000 (10.9%) $402,139 (13.1%) 0.81 403
    2021-11-01 $313,500 (12.0%) $405,464 (14.3%) 0.84 383
    2021-12-01 $316,200 (13.1%) $410,301 (13.8%) 0.86 361
    2022-01-01 $315,200 (14.2%) $403,720 (10.8%) 0.85 316
    2022-02-01 $332,625 (4.8%) $426,390 (3.4%) 0.87 286
    2022-03-01 $336,000 (0.3%) $441,005 (1.0%) 0.84 251
    2022-04-01 $326,950 (-4.0%) $433,513 (-1.7%) 0.78 283
    2022-05-01 $322,000 (-1.0%) $407,502 (-6.8%) 0.74 342
    2022-06-01 $330,950 (8.1%) $394,456 (-3.0%) 0.74 407
    2022-07-01 $320,000 (6.7%) $382,496 (-4.3%) 0.72 481
    2022-08-01 $326,838 (13.1%) $381,309 (-4.1%) 0.76 507
    2022-09-01 $326,500 (13.2%) $383,139 (-2.6%) 0.76 501
    2022-10-01 $325,000 (6.6%) $374,577 (-6.9%) 0.76 526
    2022-11-01 $327,450 (4.5%) $377,437 (-6.9%) 0.79 562
    2022-12-01 $340,000 (7.5%) $378,973 (-7.6%) 0.84 550
    2023-01-01 $346,375 (9.9%) $386,369 (-4.3%) 0.86 542
    2023-02-01 $359,925 (8.2%) $394,745 (-7.4%) 0.87 554
    2023-03-01 $349,900 (4.1%) $393,769 (-10.7%) 0.83 566
    2023-04-01 $355,025 (8.6%) $404,331 (-6.7%) 0.83 592
    2023-05-01 $373,500 (16.0%) $421,912 (3.5%) 0.85 646
    2023-06-01 $375,396 (13.4%) $426,414 (8.1%) 0.84 698
    2023-07-01 $375,000 (17.2%) $424,902 (11.1%) 0.85 732
    2023-08-01 $368,870 (12.9%) $417,217 (9.4%) 0.85 735
    2023-09-01 $345,000 (5.7%) $422,409 (10.3%) 0.80 771
    2023-10-01 $335,500 (3.2%) $418,442 (11.7%) 0.79 808
    2023-11-01 $317,000 (-3.2%) $394,058 (4.4%) 0.75 882
    2023-12-01 $320,000 (-5.9%) $396,071 (4.5%) 0.78 891
    2024-01-01 $314,503 (-9.2%) $396,685 (2.7%) 0.77 872
    2024-02-01 $313,950 (-12.8%) $397,010 (0.6%) 0.76 876
    2024-03-01 $315,000 (-10.0%) $400,797 (1.8%) 0.74 882
    Amarillo's median listing price for 2024-03-01 was $315,000, a difference of $-34,900 (-10.0%) versus the prior year and $1,050 versus the prior month.

    Amarillo's median listing price comes in at 74% of the national average.

    Amarillo's average listing price for 2024-03-01 was $400,797, a difference of $7,028 (1.8%) versus the prior year and $3,787 versus the prior month.

    For the 2024-03-01 period, Amarillo had 882 MLS listings, a difference of 6 listings (1%) versus the prior month and 316 listings (56%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Amarillo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 70 days 2,066 sqft
    2018-02-01 48 days 2,079 sqft
    2018-03-01 48 days 2,092 sqft
    2018-04-01 53 days 2,122 sqft
    2018-05-01 51 days 2,133 sqft
    2018-06-01 47 days 2,146 sqft
    2018-07-01 52 days 2,140 sqft
    2018-08-01 53 days 2,136 sqft
    2018-09-01 57 days 2,131 sqft
    2018-10-01 59 days 2,121 sqft
    2018-11-01 61 days 2,119 sqft
    2018-12-01 71 days 2,113 sqft
    2019-01-01 68 days 2,102 sqft
    2019-02-01 45 days 2,105 sqft
    2019-03-01 51 days 2,111 sqft
    2019-04-01 58 days 2,121 sqft
    2019-05-01 60 days 2,136 sqft
    2019-06-01 60 days 2,121 sqft
    2019-07-01 59 days 2,113 sqft
    2019-08-01 59 days 2,117 sqft
    2019-09-01 60 days 2,102 sqft
    2019-10-01 63 days 2,088 sqft
    2019-11-01 68 days 2,057 sqft
    2019-12-01 74 days 2,029 sqft
    2020-01-01 71 days 2,031 sqft
    2020-02-01 56 days 2,053 sqft
    2020-03-01 53 days 2,147 sqft
    2020-04-01 54 days 2,179 sqft
    2020-05-01 56 days 2,220 sqft
    2020-06-01 50 days 2,255 sqft
    2020-07-01 52 days 2,240 sqft
    2020-08-01 51 days 2,225 sqft
    2020-09-01 44 days 2,226 sqft
    2020-10-01 45 days 2,212 sqft
    2020-11-01 43 days 2,216 sqft
    2020-12-01 54 days 2,211 sqft
    2021-01-01 63 days 2,197 sqft
    2021-02-01 40 days 2,393 sqft
    2021-03-01 37 days 2,485 sqft
    2021-04-01 30 days 2,520 sqft
    2021-05-01 32 days 2,487 sqft
    2021-06-01 24 days 2,217 sqft
    2021-07-01 31 days 2,204 sqft
    2021-08-01 34 days 2,166 sqft
    2021-09-01 38 days 2,098 sqft
    2021-10-01 41 days 2,142 sqft
    2021-11-01 44 days 2,160 sqft
    2021-12-01 47 days 2,125 sqft
    2022-01-01 46 days 2,131 sqft
    2022-02-01 33 days 2,221 sqft
    2022-03-01 31 days 2,234 sqft
    2022-04-01 22 days 2,164 sqft
    2022-05-01 22 days 2,134 sqft
    2022-06-01 27 days 2,143 sqft
    2022-07-01 31 days 2,103 sqft
    2022-08-01 37 days 2,129 sqft
    2022-09-01 40 days 2,136 sqft
    2022-10-01 45 days 2,148 sqft
    2022-11-01 44 days 2,155 sqft
    2022-12-01 51 days 2,159 sqft
    2023-01-01 54 days 2,147 sqft
    2023-02-01 41 days 2,163 sqft
    2023-03-01 45 days 2,119 sqft
    2023-04-01 44 days 2,145 sqft
    2023-05-01 42 days 2,191 sqft
    2023-06-01 42 days 2,204 sqft
    2023-07-01 45 days 2,199 sqft
    2023-08-01 48 days 2,167 sqft
    2023-09-01 47 days 2,118 sqft
    2023-10-01 50 days 2,100 sqft
    2023-11-01 52 days 2,057 sqft
    2023-12-01 57 days 2,053 sqft
    2024-01-01 62 days 2,036 sqft
    2024-02-01 47 days 2,039 sqft
    2024-03-01 48 days 2,057 sqft
    Amarillo's median listing age (time on market) for 2024-03-01 was 48 days. This is 7% longer than the same period one year ago.

    Amarillo's median square footage for active listings during the 2024-03-01 period was 2,057 sqft. One year prior, the average listing was 2,119 sqft.

    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.