Bonham VA Loan Rates, Closing Costs & Stats

Bonham, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Bonham's 33 lenders originated 48 VA loans during 2023. The total origination value was $13,610,000, with an average VA loan value of $283,542.

    Bonham VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bonham averaged 0.39% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Bonham's average VA mortgage closing costs are $6,095.

    The average rate for the prior week (2024-11-08) was 6.7% and one month ago for the week of 2024-10-11, the average rate was 6.16%.

    The average rate one year ago was 7.75%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Bonham 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 Bonham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 7 6.48% $6,398
    GUILD MORTGAGE COMPANY 5 6.83% $9,067
    UNITED WHOLESALE MORTGAGE, LLC 3 6.29% $12,371
    CARDINAL FINANCIAL 2 6.19% $17,430
    NAVY FEDERAL CREDIT UNION 2 6.69% $6,124
    Town Square Mortgage & Investments, Inc. 2 6.44% $3,651
    CMG MORTGAGE, INC. 1 6.75% $6,538
    Credence Funding Corporation 1 5.88% $8,720
    Equity Prime Mortgage LLC 1 6.25% $9,716
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.38% $1,719
    First United Bank and Trust Company 1 7.38% $5,542
    FREEDOM MORTGAGE CORPORATION 1 7.25% $6,260
    GENEVA FINANCIAL, LLC 1 7.75% $2,215
    GUARANTEED RATE, INC. 1 5.75% $4,440
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $8,676
    HomePromise Corporation 1 7.50% $7,914
    JPMorgan Chase Bank 1 6.25% $3,200
    LOANDEPOT.COM, LLC 1 6.13% $5,513
    MANN FINANCIAL INC. 1 6.85% $2,795
    MOVEMENT MORTGAGE, LLC 1 5.63% $7,787
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $8,961
    NEWREZ LLC 1 7.25% $14,029
    PENNYMAC LOAN SERVICES, LLC 1 6.63% $19,754
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.38% $15,303
    Prosperity Home Mortgage, LLC 1 6.13% $13,066
    QUICKEN LOANS, LLC 1 6.49% $5,397
    ACADEMY MORTGAGE CORPORATION 1 6.88% $10,277
    USAA Federal Savings Bank 1 6.00% $10,004
    AMCAP MORTGAGE, LTD. 1 7.13% $21,658
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $6,663
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.99% $10,297
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $8,616
    Citizens Bank 1 6.00% $13,163

    The top Bonham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $6,398, which is $2,668 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Bonham VA lenders (with over 10 loans originated) are .

    The lowest rate Bonham VA lenders (with over 10 loans originated) are .

    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.