Bonham VA Loan Rates, Closing Costs & Stats

Bonham, 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 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 41 lenders originated 100 VA loans during 2021. The total origination value was $26,870,000, with an average VA loan value of $268,700.

Bonham VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Bonham averaged 6.83% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

Bonham's average VA mortgage closing costs are $5,185.

The average rate for the prior week (2022-11-25) was 7.07% and one month ago for the week of 2022-10-28, the average rate was 7.26%.

The average rate one year ago was 3.83%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.55%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 16 2.69% $5,834
GUILD MORTGAGE COMPANY 10 2.84% $6,137
FREEDOM MORTGAGE CORPORATION 7 2.68% $2,961
UNITED WHOLESALE MORTGAGE, LLC 4 2.41% $8,390
QUICKEN LOANS, LLC 4 2.72% $8,200
CALIBER HOME LOANS, INC. 4 2.50% $5,447
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.19% $5,181
Mr. Cooper ( Nationstar Mortgage ) 3 2.92% $2,607
VILLAGE CAPITAL MORTGAGE 3 2.58% $2,778
First United Bank and Trust Company 3 2.75% $3,615
SUMMIT FUNDING, INC. 2 3.37% $2,482
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.69% $8,270
SFMC, LP 2 2.94% $5,602
City Bank 2 2.69% $8,751
USAA Federal Savings Bank 2 3.13% $1,823
LOANDEPOT.COM, LLC 1 2.75% $1,378
MID AMERICA MORTGAGE, INC. 1 4.00% $5,311
NAVY FEDERAL CREDIT UNION 1 2.50% $4,881
NEWREZ LLC 1 2.50% $1,984
Paramount Bank 1 3.00% $2,609
PENNYMAC LOAN SERVICES, LLC 1 2.25% $6,662
PREMIA MORTGAGE, LLC 1 2.38% $10,801
SUN WEST MORTGAGE COMPANY, INC. 1 2.38% $2,970
Wallick & Volk, Inc. 1 2.75% $4,219
Wells Fargo Bank 1 2.88% $2,101
AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $7,515
Wyndham Capital Mortgage, Inc. 1 2.50% $10,806
AmRes Corporation 1 2.75% $12,022
ASPIRE FINANCIAL, INC. 1 2.75% $3,151
Barrington Bank & Trust Company, N.A. 1 2.45% $2,099
BROKER SOLUTIONS, INC. 1 2.99% $3,498
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $7,790
CLEARPATH LENDING 1 2.25% $2,480
CMG MORTGAGE, INC. 1 2.25% $5,376
CONTOUR MORTGAGE CORPORATION 1 2.75% $2,971
CORNERSTONE HOME LENDING, INC. 1 3.13% $40,484
CROSSCOUNTRY MORTGAGE, LLC 1 2.75% $2,542
Goldwater Bank, N.A. 1 2.50% $6,199
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $3,280
INTELLILOAN, INC. 1 2.25% $6,740
InterContinental Capital Group, Inc 1 2.25% $4,555

The top Bonham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $5,834, which is $303 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Bonham VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,834), GUILD MORTGAGE COMPANY ($6,137), .

The lowest rate Bonham VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (2.69%), GUILD MORTGAGE COMPANY (2.84%), .

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.