Beaumont VA Loan Rates, Closing Costs & Stats

BEAUMONT-PORT ARTHUR, 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.

    Beaumont's 70 lenders originated 308 VA loans during 2023. The total origination value was $85,500,000, with an average VA loan value of $277,597.

    Beaumont VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Beaumont averaged 6.65% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Beaumont's average VA mortgage closing costs are $5,908.

    The average rate for the prior week (2024-07-12) was 6.69% and one month ago for the week of 2024-06-14, the average rate was 6.65%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.47%.

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

    Beaumont 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 Beaumont level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 73 6.63% $6,084
    NAVY FEDERAL CREDIT UNION 20 5.64% $8,359
    UNITED WHOLESALE MORTGAGE, LLC 12 6.27% $4,776
    AMCAP MORTGAGE, LTD. 10 6.67% $10,428
    DHI MORTGAGE COMPANY, LTD. 10 5.21% $9,631
    Republic State Mortgage Co. 10 6.70% $7,986
    GUILD MORTGAGE COMPANY 9 6.61% $9,667
    Gateway First Bank 9 6.15% $8,923
    QUICKEN LOANS, LLC 9 6.54% $9,475
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.82% $7,667
    Flagstar Bank, FSB 8 7.00% $7,451
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.96% $2,574
    OPEN MORTGAGE, LLC 6 7.10% $8,982
    FBC MORTGAGE, LLC 5 6.12% $8,046
    LEGEND LENDING CORPORATION 4 6.66% $7,713
    MID AMERICA MORTGAGE, INC. 4 6.22% $11,237
    Equity Prime Mortgage LLC 4 6.72% $3,290
    EVERETT FINANCIAL, INC. 4 6.63% $9,203
    PENNYMAC LOAN SERVICES, LLC 4 5.22% $7,890
    ACADEMY MORTGAGE CORPORATION 3 6.50% $5,663
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.53% $4,471
    GUARANTEED RATE, INC. 3 6.54% $5,079
    MORTGAGE ACCESS CORP. 3 6.38% $13,675
    Mr. Cooper ( Nationstar Mortgage ) 3 6.71% $9,215
    Plains Commerce Bank 3 6.63% $9,288
    SECURITYNATIONAL MORTGAGE COMPANY 3 6.83% $17,365
    T2 FINANCIAL LLC 3 6.67% $5,486
    USAA Federal Savings Bank 3 6.58% $14,583
    WILLOW BEND MORTGAGE COMPANY, LLC 3 6.75% $6,324
    Mid-Continent Funding, Inc. 2 6.25% $7,617
    CMG MORTGAGE, INC. 2 5.63% $8,969
    CARDINAL FINANCIAL 2 7.75% $6,509
    PREMIA MORTGAGE, LLC 2 6.31% $11,787
    SUN WEST MORTGAGE COMPANY, INC. 2 6.99% $4,329
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $4,933
    VILLAGE CAPITAL MORTGAGE 2 6.00% $3,986
    NEWREZ LLC 2 7.00% $11,817
    FREEDOM MORTGAGE CORPORATION 2 6.00% $13,119
    CROSSCOUNTRY MORTGAGE, LLC 2 6.22% $12,142
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.88% $3,801
    Barrington Bank & Trust Company, N.A. 2 6.50% $6,845
    DSLD MORTGAGE, LLC 2 5.74% $838
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.19% $5,920
    American Mortgage Bank, LLC 2 7.19% $3,389
    JPMorgan Chase Bank 2 6.31% $4,287
    RESIDENTIAL BANCORP 1 6.25% $8,695
    U.S. Bank 1 6.13% $4,397
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.25% $9,162
    Sunflower Bank 1 6.13% $12,651
    SWBC MORTGAGE CORPORATION 1 6.13% $10,400
    The Huntington National Bank 1 5.88% $28,569
    First Financial Bank 1 6.25% $5,976
    THRIVE MORTGAGE, LLC 1 7.13% $12,976
    Integrity Home Mortgage Corp 1 7.13% $1,134
    INTERLINC MORTGAGE SERVICES, LLC 1 4.56% $7,581
    Meridian Bank Corporation 1 5.75% $13,288
    CRESCENT MORTGAGE COMPANY 1 5.75% $7,354
    United Fidelity Funding Corp. 1 5.50% $10,834
    MORTGAGEONE, INC. 1 7.38% $0
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $2,321
    Nations Lending Corporation 1 6.25% $6,832
    NATIONS RELIABLE LENDING, LLC 1 7.25% $8,075
    BROKER SOLUTIONS, INC. 1 6.75% $13,002
    BECKAM FUNDING CORP. 1 7.25% $6,656
    PENTAGON FEDERAL CREDIT UNION 1 7.00% $4,424
    V.I.P. MORTGAGE, INC. 1 6.99% $15,740
    PLAZA HOME MORTGAGE, INC. 1 6.00% $24,966
    Prosperity Bank 1 5.75% $8,307
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $45,423
    Renasant Bank 1 6.99% $9,185

    The top Beaumont VA lender as defined by loan originations is Mortgage Research Center, LLC, with 73 VA loans originated. Their average total fees are $6,084, which is $2,275 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Beaumont VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($4,776), Mortgage Research Center, LLC ($6,084), Republic State Mortgage Co. ($7,986), NAVY FEDERAL CREDIT UNION ($8,359) and DHI MORTGAGE COMPANY, LTD. ($9,631).

    The lowest rate Beaumont VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.21%), NAVY FEDERAL CREDIT UNION (5.64%), UNITED WHOLESALE MORTGAGE, LLC (6.27%), Mortgage Research Center, LLC (6.63%) and AMCAP MORTGAGE, LTD. (6.67%).

    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.