Brownsville VA Loan Rates, Closing Costs & Stats

BROWNSVILLE-HARLINGEN, 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.

    Brownsville's 61 lenders originated 325 VA loans during 2023. The total origination value was $96,015,000, with an average VA loan value of $295,431.

    Brownsville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Brownsville averaged 6.97% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Brownsville's average VA mortgage closing costs are $5,452.

    The average rate for the prior week (2024-04-12) was 6.7% and one month ago for the week of 2024-03-15, the average rate was 6.67%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.12%.

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

    Brownsville 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 Brownsville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 76 6.67% $7,069
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 6.54% $7,437
    NATIONS RELIABLE LENDING, LLC 20 6.41% $8,666
    NAVY FEDERAL CREDIT UNION 17 5.77% $6,804
    QUICKEN LOANS, LLC 12 5.72% $9,378
    USAA Federal Savings Bank 12 6.33% $9,542
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.46% $10,990
    DRAPER AND KRAMER MORTGAGE CORP. 12 6.34% $10,557
    UNITED WHOLESALE MORTGAGE, LLC 11 6.26% $4,730
    WILLOW BEND MORTGAGE COMPANY, LLC 8 6.92% $14,028
    ACADEMY MORTGAGE CORPORATION 6 6.48% $7,771
    PENNYMAC LOAN SERVICES, LLC 6 5.67% $5,643
    AMCAP MORTGAGE, LTD. 5 6.35% $9,649
    SECURITYNATIONAL MORTGAGE COMPANY 5 6.68% $8,840
    Wells Fargo Bank 4 5.56% $6,780
    MOVEMENT MORTGAGE, LLC 4 6.63% $8,245
    CROSSCOUNTRY MORTGAGE, LLC 4 6.39% $8,603
    FREEDOM MORTGAGE CORPORATION 4 6.31% $9,373
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.44% $6,389
    CORNERSTONE HOME LENDING, INC. 3 6.15% $6,716
    HALLMARK HOME MORTGAGE, LLC 3 6.88% $7,706
    PLANET HOME LENDING, LLC 3 6.35% $10,195
    CMG MORTGAGE, INC. 3 6.04% $10,498
    U.S. Bank 3 6.54% $7,921
    Plains Commerce Bank 2 6.12% $6,119
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.19% $5,774
    PENTAGON FEDERAL CREDIT UNION 2 5.25% $8,263
    DIRECTIONS EQUITY, LLC 2 6.00% $2,144
    GUARANTEED RATE, INC. 2 6.56% $6,675
    NEW DAY FINANCIAL, LLC 2 7.37% $5,991
    Waterstone Mortgage Corporation 2 7.00% $7,169
    PLAZA HOME MORTGAGE, INC. 2 5.81% $6,617
    LOANDEPOT.COM, LLC 2 6.49% $8,468
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.25% $9,045
    Sierra Pacific Mortgage Company, Inc. 1 5.75% $7,569
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $4,958
    THRIVE MORTGAGE, LLC 1 6.63% $18,931
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $10,960
    VILLAGE CAPITAL MORTGAGE 1 6.25% $1,619
    V.I.P. MORTGAGE, INC. 1 6.99% $13,028
    AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $12,509
    Equity Prime Mortgage LLC 1 6.25% $8,942
    EVERETT FINANCIAL, INC. 1 6.13% $4,035
    Century Mortgage Company DBA Century Lending Company 1 6.63% $10,137
    First United Bank and Trust Company 1 6.50% $10,750
    GENEVA FINANCIAL, LLC 1 7.75% $6,493
    GUILD MORTGAGE COMPANY 1 6.63% $21,036
    HOMESIDE FINANCIAL, LLC 1 6.75% $14,134
    Lone Star National Bank 1 7.25% $5,868
    Mid-Continent Funding, Inc. 1 6.38% $8,372
    MORIA DEVELOPMENT, INC. 1 6.75% $9,004
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.63% $7,572
    MORTGAGEONE, INC. 1 6.50% $6,622
    CARDINAL FINANCIAL 1 6.75% $3,790
    Nations Lending Corporation 1 5.75% $3,662
    CALCON MUTUAL MORTGAGE LLC 1 7.25% $23,623
    BROKER SOLUTIONS, INC. 1 6.49% $2,942
    NBKC BANK 1 6.63% $13,627
    NEWREZ LLC 1 7.75% $3,373
    OPEN MORTGAGE, LLC 1 7.00% $7,580
    Paramount Residential Mortgage Group, Inc. 1 6.75% $8,030

    The top Brownsville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 76 VA loans originated. Their average total fees are $7,069, which is $367 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Brownsville VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($4,730), NAVY FEDERAL CREDIT UNION ($6,804), Mortgage Research Center, LLC ($7,069), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,437) and NATIONS RELIABLE LENDING, LLC ($8,666).

    The lowest rate Brownsville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.72%), NAVY FEDERAL CREDIT UNION (5.77%), UNITED WHOLESALE MORTGAGE, LLC (6.26%), USAA Federal Savings Bank (6.33%) and DRAPER AND KRAMER MORTGAGE CORP. (6.34%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Brownsville (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 $200,000 (2.6%) $282,802 (2.6%) 0.74 1,594
    2018-02-01 $204,374 (5.4%) $284,402 (2.8%) 0.74 1,610
    2018-03-01 $209,000 (6.4%) $294,820 (4.7%) 0.73 1,608
    2018-04-01 $209,974 (5.3%) $297,318 (4.5%) 0.71 1,567
    2018-05-01 $221,950 (8.3%) $304,156 (5.5%) 0.74 1,561
    2018-06-01 $225,000 (6.5%) $308,066 (3.8%) 0.75 1,603
    2018-07-01 $224,975 (7.1%) $307,151 (3.3%) 0.75 1,631
    2018-08-01 $221,000 (8.1%) $305,779 (4.6%) 0.74 1,637
    2018-09-01 $215,000 (7.6%) $302,495 (4.3%) 0.72 1,583
    2018-10-01 $218,448 (9.3%) $308,371 (6.7%) 0.74 1,559
    2018-11-01 $217,900 (6.7%) $305,311 (5.3%) 0.74 1,556
    2018-12-01 $215,000 (3.6%) $301,647 (4.2%) 0.74 1,521
    2019-01-01 $212,500 (6.3%) $298,967 (5.7%) 0.73 1,458
    2019-02-01 $214,675 (5.0%) $299,483 (5.3%) 0.73 1,472
    2019-03-01 $221,786 (6.1%) $303,218 (2.9%) 0.73 1,475
    2019-04-01 $224,925 (7.1%) $303,462 (2.1%) 0.71 1,486
    2019-05-01 $229,950 (3.6%) $308,495 (1.4%) 0.72 1,477
    2019-06-01 $229,900 (2.2%) $309,575 (0.5%) 0.72 1,490
    2019-07-01 $232,000 (3.1%) $318,034 (3.5%) 0.73 1,420
    2019-08-01 $232,818 (5.4%) $322,228 (5.4%) 0.74 1,402
    2019-09-01 $234,045 (8.9%) $327,031 (8.1%) 0.75 1,382
    2019-10-01 $237,000 (8.5%) $332,147 (7.7%) 0.76 1,355
    2019-11-01 $235,000 (7.9%) $326,907 (7.1%) 0.77 1,321
    2019-12-01 $229,975 (7.0%) $320,188 (6.2%) 0.77 1,324
    2020-01-01 $229,315 (7.9%) $319,019 (6.7%) 0.77 1,260
    2020-02-01 $230,000 (7.1%) $319,744 (6.8%) 0.75 1,271
    2020-03-01 $239,125 (7.8%) $326,932 (7.8%) 0.75 1,242
    2020-04-01 $239,000 (6.3%) $326,689 (7.7%) 0.75 1,216
    2020-05-01 $245,900 (6.9%) $365,176 (18.4%) 0.75 1,178
    2020-06-01 $250,000 (8.7%) $371,113 (19.9%) 0.74 1,017
    2020-07-01 $256,000 (10.3%) $375,911 (18.2%) 0.74 933
    2020-08-01 $249,000 (7.0%) $367,748 (14.1%) 0.71 873
    2020-09-01 $249,000 (6.4%) $373,373 (14.2%) 0.71 819
    2020-10-01 $249,900 (5.4%) $379,767 (14.3%) 0.72 761
    2020-11-01 $249,450 (6.2%) $383,033 (17.2%) 0.73 740
    2020-12-01 $249,949 (8.7%) $386,507 (20.7%) 0.74 713
    2021-01-01 $255,660 (11.5%) $395,026 (23.8%) 0.76 622
    2021-02-01 $260,000 (13.0%) $397,601 (24.4%) 0.76 565
    2021-03-01 $257,725 (7.8%) $403,916 (23.6%) 0.73 521
    2021-04-01 $260,000 (8.8%) $427,622 (30.9%) 0.70 444
    2021-05-01 $279,000 (13.5%) $468,097 (28.2%) 0.74 368
    2021-06-01 $279,000 (11.6%) $469,771 (26.6%) 0.73 352
    2021-07-01 $286,000 (11.7%) $473,219 (25.9%) 0.75 407
    2021-08-01 $286,675 (15.1%) $462,601 (25.8%) 0.76 439
    2021-09-01 $292,000 (17.3%) $463,792 (24.2%) 0.78 464
    2021-10-01 $282,500 (13.1%) $470,175 (23.8%) 0.75 465
    2021-11-01 $294,750 (18.2%) $478,704 (25.0%) 0.79 457
    2021-12-01 $296,000 (18.4%) $491,233 (27.1%) 0.80 452
    2022-01-01 $299,950 (17.3%) $519,096 (31.4%) 0.81 408
    2022-02-01 $304,975 (17.3%) $520,426 (30.9%) 0.79 405
    2022-03-01 $321,000 (24.6%) $523,280 (29.6%) 0.80 405
    2022-04-01 $325,000 (25.0%) $521,244 (21.9%) 0.77 427
    2022-05-01 $323,348 (15.9%) $487,061 (4.1%) 0.74 462
    2022-06-01 $339,475 (21.7%) $469,147 (-0.1%) 0.76 544
    2022-07-01 $325,000 (13.6%) $463,121 (-2.1%) 0.73 613
    2022-08-01 $325,000 (13.4%) $456,254 (-1.4%) 0.75 686
    2022-09-01 $328,125 (12.4%) $449,899 (-3.0%) 0.77 714
    2022-10-01 $320,500 (13.5%) $428,637 (-8.8%) 0.75 820
    2022-11-01 $322,500 (9.4%) $425,513 (-11.1%) 0.78 865
    2022-12-01 $320,000 (8.1%) $421,370 (-14.2%) 0.79 862
    2023-01-01 $317,475 (5.8%) $420,103 (-19.1%) 0.79 862
    2023-02-01 $319,000 (4.6%) $419,433 (-19.4%) 0.77 879
    2023-03-01 $319,000 (-0.6%) $418,534 (-20.0%) 0.75 862
    2023-04-01 $324,700 (-0.1%) $428,534 (-17.8%) 0.76 824
    2023-05-01 $325,000 (0.5%) $434,876 (-10.7%) 0.74 818
    2023-06-01 $330,000 (-2.8%) $453,083 (-3.4%) 0.74 851
    2023-07-01 $330,000 (1.5%) $451,746 (-2.5%) 0.75 898
    2023-08-01 $325,000 (0.0%) $445,788 (-2.3%) 0.75 945
    2023-09-01 $319,000 (-2.8%) $424,173 (-5.7%) 0.74 999
    2023-10-01 $319,450 (-0.3%) $417,748 (-2.5%) 0.75 1,069
    2023-11-01 $311,250 (-3.5%) $407,704 (-4.2%) 0.74 1,155
    2023-12-01 $305,000 (-4.7%) $398,248 (-5.5%) 0.74 1,232
    2024-01-01 $307,850 (-3.0%) $402,184 (-4.3%) 0.75 1,215
    2024-02-01 $304,900 (-4.4%) $397,100 (-5.3%) 0.73 1,273
    2024-03-01 $308,000 (-3.5%) $407,098 (-2.7%) 0.72 1,310
    Brownsville's median listing price for 2024-03-01 was $308,000, a difference of $-11,000 (-3.5%) versus the prior year and $3,100 versus the prior month.

    Brownsville's median listing price comes in at 72% of the national average.

    Brownsville's average listing price for 2024-03-01 was $407,098, a difference of $-11,436 (-2.7%) versus the prior year and $9,998 versus the prior month.

    For the 2024-03-01 period, Brownsville had 1,310 MLS listings, a difference of 37 listings (3%) versus the prior month and 448 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Brownsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 110 days 1,649 sqft
    2018-02-01 109 days 1,643 sqft
    2018-03-01 109 days 1,650 sqft
    2018-04-01 95 days 1,665 sqft
    2018-05-01 89 days 1,676 sqft
    2018-06-01 89 days 1,700 sqft
    2018-07-01 91 days 1,709 sqft
    2018-08-01 94 days 1,694 sqft
    2018-09-01 101 days 1,694 sqft
    2018-10-01 107 days 1,709 sqft
    2018-11-01 109 days 1,708 sqft
    2018-12-01 115 days 1,706 sqft
    2019-01-01 110 days 1,688 sqft
    2019-02-01 102 days 1,670 sqft
    2019-03-01 96 days 1,659 sqft
    2019-04-01 92 days 1,650 sqft
    2019-05-01 90 days 1,665 sqft
    2019-06-01 83 days 1,693 sqft
    2019-07-01 93 days 1,687 sqft
    2019-08-01 96 days 1,685 sqft
    2019-09-01 98 days 1,694 sqft
    2019-10-01 97 days 1,705 sqft
    2019-11-01 94 days 1,695 sqft
    2019-12-01 96 days 1,700 sqft
    2020-01-01 96 days 1,686 sqft
    2020-02-01 95 days 1,732 sqft
    2020-03-01 77 days 1,752 sqft
    2020-04-01 87 days 1,728 sqft
    2020-05-01 96 days 1,738 sqft
    2020-06-01 100 days 1,783 sqft
    2020-07-01 79 days 1,781 sqft
    2020-08-01 81 days 1,761 sqft
    2020-09-01 76 days 1,792 sqft
    2020-10-01 81 days 1,800 sqft
    2020-11-01 83 days 1,825 sqft
    2020-12-01 81 days 1,800 sqft
    2021-01-01 89 days 1,849 sqft
    2021-02-01 77 days 1,833 sqft
    2021-03-01 68 days 1,888 sqft
    2021-04-01 48 days 1,916 sqft
    2021-05-01 44 days 1,946 sqft
    2021-06-01 42 days 1,910 sqft
    2021-07-01 37 days 1,887 sqft
    2021-08-01 46 days 1,884 sqft
    2021-09-01 46 days 1,918 sqft
    2021-10-01 51 days 1,871 sqft
    2021-11-01 50 days 1,858 sqft
    2021-12-01 55 days 1,856 sqft
    2022-01-01 63 days 1,943 sqft
    2022-02-01 46 days 1,883 sqft
    2022-03-01 45 days 1,881 sqft
    2022-04-01 40 days 1,843 sqft
    2022-05-01 41 days 1,800 sqft
    2022-06-01 38 days 1,849 sqft
    2022-07-01 44 days 1,808 sqft
    2022-08-01 47 days 1,791 sqft
    2022-09-01 58 days 1,799 sqft
    2022-10-01 58 days 1,820 sqft
    2022-11-01 63 days 1,823 sqft
    2022-12-01 72 days 1,808 sqft
    2023-01-01 78 days 1,803 sqft
    2023-02-01 71 days 1,800 sqft
    2023-03-01 63 days 1,815 sqft
    2023-04-01 66 days 1,831 sqft
    2023-05-01 67 days 1,787 sqft
    2023-06-01 57 days 1,801 sqft
    2023-07-01 60 days 1,800 sqft
    2023-08-01 66 days 1,775 sqft
    2023-09-01 65 days 1,747 sqft
    2023-10-01 66 days 1,758 sqft
    2023-11-01 66 days 1,750 sqft
    2023-12-01 67 days 1,710 sqft
    2024-01-01 79 days 1,713 sqft
    2024-02-01 79 days 1,701 sqft
    2024-03-01 68 days 1,700 sqft
    Brownsville's median listing age (time on market) for 2024-03-01 was 68 days. This is 8% longer than the same period one year ago.

    Brownsville's median square footage for active listings during the 2024-03-01 period was 1,700 sqft. One year prior, the average listing was 1,815 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.