Amarillo VA Loans
AMARILLO, 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.
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.