Brownsville VA Loan Rates, Closing Costs & Stats

BROWNSVILLE-HARLINGEN, 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.

Brownsville's 92 lenders originated 684 VA loans during 2021. The total origination value was $156,710,000, with an average VA loan value of $229,108.

Brownsville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Brownsville averaged 0.28% for the week of 2022-11-25, compared to the national average (all VA variants) of 0% for the same period.

Brownsville's average VA mortgage closing costs are $4,621.

The average rate for the prior week (2022-11-18) was 6.67% and one month ago for the week of 2022-10-21, the average rate was 7.31%.

The average rate one year ago was 3.29%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.14%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Mortgage Research Center, LLC 85 2.99% $5,382
FREEDOM MORTGAGE CORPORATION 44 2.42% $5,269
PENNYMAC LOAN SERVICES, LLC 39 2.45% $4,476
QUICKEN LOANS, LLC 30 2.43% $3,824
USAA Federal Savings Bank 30 2.80% $6,078
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 3.01% $5,739
NATIONS RELIABLE LENDING, LLC 18 3.39% $5,721
NAVY FEDERAL CREDIT UNION 17 2.48% $5,004
ACADEMY MORTGAGE CORPORATION 17 3.15% $5,878
PLANET HOME LENDING, LLC 16 3.10% $6,240
Hometown Lenders, Inc. 14 3.11% $8,597
UNITED WHOLESALE MORTGAGE, LLC 11 2.48% $4,947
CLEARPATH LENDING 11 2.41% $3,026
NEW DAY FINANCIAL, LLC 10 2.35% $3,907
Wells Fargo Bank 8 2.59% $3,327
VILLAGE CAPITAL MORTGAGE 8 2.34% $2,032
NEWREZ LLC 7 2.48% $2,942
Barrington Bank & Trust Company, N.A. 7 2.79% $3,288
WILLOW BEND MORTGAGE COMPANY, LLC 7 2.89% $9,113
LOANDEPOT.COM, LLC 7 2.55% $5,277
SECURITYNATIONAL MORTGAGE COMPANY 6 3.25% $10,042
Mr. Cooper ( Nationstar Mortgage ) 6 3.04% $3,859
HOME POINT FINANCIAL CORPORATION 6 2.48% $6,355
Low VA Rates, LLC 6 2.25% $4,420
CALIBER HOME LOANS, INC. 6 2.40% $4,963
Flagstar Bank, FSB 6 2.39% $4,882
AMCAP MORTGAGE, LTD. 6 3.67% $9,375
PLAZA HOME MORTGAGE, INC. 6 2.62% $4,242
THRIVE MORTGAGE, LLC 5 3.13% $7,126
DIRECTIONS EQUITY, LLC 5 3.38% $5,484
LAKEVIEW LOAN SERVICING, LLC 5 2.50% $3,349
BROKER SOLUTIONS, INC. 4 2.44% $9,113
GUARANTEED RATE, INC. 4 2.81% $5,794
Goldwater Bank, N.A. 4 2.94% $9,027
DRAPER AND KRAMER MORTGAGE CORP. 4 3.09% $12,847
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 4.00% $7,592
AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.25% $5,997
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 2.91% $9,693
Gateway First Bank 4 2.91% $4,104
LEADERONE FINANCIAL CORPORATION 3 2.79% $5,510
Lakeview Community Capital, LLC 3 2.46% $2,342
CROSSCOUNTRY MORTGAGE, LLC 3 3.08% $6,402
AMERISAVE MORTGAGE CORPORATION 3 2.42% $8,235
S1L, Inc. 3 3.38% $5,295
PENTAGON FEDERAL CREDIT UNION 2 2.50% $959
GUILD MORTGAGE COMPANY 2 2.69% $4,268
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.25% $5,558
First Guaranty Mortgage Corporation 2 2.50% $1,608
InterContinental Capital Group, Inc 2 2.25% $3,295
Wyndham Capital Mortgage, Inc. 2 2.56% $1,354
FINANCE OF AMERICA MORTGAGE LLC 2 2.88% $9,082
EVERETT FINANCIAL, INC. 2 3.50% $6,496
NATIONS DIRECT MORTGAGE, LLC 2 3.75% $7,128
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.75% $3,566
AMERICAN FINANCIAL NETWORK, INC. 2 2.31% $5,985
MICHIGAN MUTUAL, INC. 1 3.00% $5,701
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $1,767
GUARANTEED RATE AFFINITY, LLC 1 2.50% $2,076
Nations Lending Corporation 1 2.25% $14,692
LOANPAL, LLC 1 2.75% $3,328
Credence Funding Corporation 1 2.38% $2,669
NBKC BANK 1 2.75% $16,152
NETWORK CAPITAL FUNDING CORPORATION 1 2.38% $5,779
CMG MORTGAGE, INC. 1 3.75% $15,315
Citizens Bank 1 2.75% $5,024
NP, Inc. 1 2.25% $5,304
Paramount Residential Mortgage Group, Inc. 1 2.25% $3,240
Century Mortgage Company DBA Century Lending Company 1 2.38% $1,817
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.75% $1,064
Carrington Mortgage Services, LLC 1 3.75% $7,291
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $11,119
ACCELERATE MORTGAGE, LLC 1 2.25% $4,080
KS StateBank 1 2.25% $918
RB MORTGAGE LLC 1 2.50% $5,483
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $4,988
KELLER MORTGAGE, LLC 1 2.75% $2,226
Austin Capital Bank SSB 1 2.63% $1,570
Stride Bank 1 3.00% $20,657
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $4,378
The Federal Savings Bank 1 2.25% $6,091
ASPIRE FINANCIAL, INC. 1 2.88% $8,807
Town Square Mortgage & Investments, Inc. 1 3.25% $970
TruHome Solutions, LLC 1 3.25% $3,918
UNION HOME MORTGAGE CORP. 1 2.25% $4,416
INTERLINC MORTGAGE SERVICES, LLC 1 3.13% $6,283
INTERCAP LENDING INC. 1 3.00% $6,139
U.S. Bank 1 2.38% $4,032
HAMILTON HOME LOANS, INC. 1 3.50% $12,785
Wallick & Volk, Inc. 1 2.29% $3,787
Mid-Continent Funding, Inc. 1 3.00% $6,604
Equity Prime Mortgage LLC 1 3.88% $2,579
MID AMERICA MORTGAGE, INC. 1 2.99% $3,464

The top Brownsville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 85 VA loans originated. Their average total fees are $5,382, which is $113 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Brownsville VA lenders (with over 10 loans originated) are CLEARPATH LENDING ($3,026), QUICKEN LOANS, LLC ($3,824), NEW DAY FINANCIAL, LLC ($3,907), PENNYMAC LOAN SERVICES, LLC ($4,476) and UNITED WHOLESALE MORTGAGE, LLC ($4,947).

The lowest rate Brownsville VA lenders (with over 10 loans originated) are NEW DAY FINANCIAL, LLC (2.35%), CLEARPATH LENDING (2.41%), FREEDOM MORTGAGE CORPORATION (2.42%), QUICKEN LOANS, LLC (2.43%) and PENNYMAC LOAN SERVICES, LLC (2.45%).


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%) $282,729 (2.5%) 0.74 1,595
2018-02-01 $204,374 (5.4%) $284,292 (2.7%) 0.74 1,608
2018-03-01 $209,000 (6.4%) $294,783 (4.6%) 0.73 1,606
2018-04-01 $209,974 (5.3%) $297,286 (4.4%) 0.71 1,565
2018-05-01 $221,950 (8.3%) $304,188 (5.5%) 0.74 1,558
2018-06-01 $225,000 (7.1%) $308,146 (3.9%) 0.75 1,600
2018-07-01 $225,000 (7.1%) $307,362 (3.4%) 0.75 1,627
2018-08-01 $222,000 (8.6%) $305,985 (4.7%) 0.74 1,633
2018-09-01 $215,000 (7.6%) $302,837 (4.4%) 0.72 1,579
2018-10-01 $218,999 (9.6%) $308,689 (6.8%) 0.74 1,555
2018-11-01 $219,000 (7.7%) $305,598 (5.4%) 0.74 1,554
2018-12-01 $215,900 (4.6%) $301,932 (4.3%) 0.74 1,519
2019-01-01 $212,500 (6.3%) $299,336 (5.9%) 0.73 1,456
2019-02-01 $214,950 (5.2%) $299,878 (5.5%) 0.73 1,469
2019-03-01 $222,043 (6.2%) $303,582 (3.0%) 0.73 1,473
2019-04-01 $224,950 (7.1%) $303,824 (2.2%) 0.71 1,485
2019-05-01 $229,950 (3.6%) $309,289 (1.7%) 0.72 1,480
2019-06-01 $230,000 (2.2%) $313,629 (1.8%) 0.72 1,513
2019-07-01 $236,975 (5.3%) $322,377 (4.9%) 0.74 1,449
2019-08-01 $239,245 (7.8%) $330,991 (8.2%) 0.76 1,444
2019-09-01 $239,614 (11.5%) $336,532 (11.1%) 0.77 1,427
2019-10-01 $243,687 (11.3%) $342,273 (10.9%) 0.79 1,402
2019-11-01 $239,900 (9.5%) $337,606 (10.5%) 0.79 1,369
2019-12-01 $239,000 (10.7%) $331,549 (9.8%) 0.80 1,373
2020-01-01 $238,250 (12.1%) $330,650 (10.5%) 0.80 1,310
2020-02-01 $239,000 (11.2%) $331,028 (10.4%) 0.78 1,319
2020-03-01 $249,000 (12.1%) $338,252 (11.4%) 0.78 1,290
2020-04-01 $247,375 (10.0%) $336,482 (10.8%) 0.77 1,263
2020-05-01 $249,900 (8.7%) $374,020 (20.9%) 0.76 1,224
2020-06-01 $250,000 (8.7%) $372,003 (18.6%) 0.74 1,022
2020-07-01 $256,500 (8.2%) $376,394 (16.8%) 0.74 938
2020-08-01 $249,000 (4.1%) $365,708 (10.5%) 0.71 878
2020-09-01 $249,000 (3.9%) $373,379 (11.0%) 0.71 822
2020-10-01 $249,990 (2.6%) $380,974 (11.3%) 0.72 763
2020-11-01 $249,700 (4.1%) $384,234 (13.8%) 0.73 742
2020-12-01 $249,950 (4.6%) $387,751 (17.0%) 0.74 715
2021-01-01 $259,500 (8.9%) $396,791 (20.0%) 0.77 623
2021-02-01 $262,250 (9.7%) $398,698 (20.4%) 0.76 566
2021-03-01 $259,125 (4.1%) $405,073 (19.8%) 0.74 522
2021-04-01 $260,500 (5.3%) $428,145 (27.2%) 0.71 447
2021-05-01 $280,000 (12.0%) $467,214 (24.9%) 0.74 372
2021-06-01 $279,000 (11.6%) $464,651 (24.9%) 0.73 354
2021-07-01 $289,000 (12.7%) $469,420 (24.7%) 0.76 409
2021-08-01 $287,000 (15.3%) $462,761 (26.5%) 0.77 441
2021-09-01 $292,475 (17.5%) $464,680 (24.5%) 0.78 466
2021-10-01 $285,000 (14.0%) $470,664 (23.5%) 0.76 470
2021-11-01 $296,000 (18.5%) $478,799 (24.6%) 0.79 462
2021-12-01 $297,000 (18.8%) $491,003 (26.6%) 0.81 456
2022-01-01 $304,900 (17.5%) $518,901 (30.8%) 0.82 403
2022-02-01 $304,975 (16.3%) $520,004 (30.4%) 0.79 409
2022-03-01 $321,250 (24.0%) $524,791 (29.6%) 0.80 408
2022-04-01 $325,000 (24.8%) $525,174 (22.7%) 0.78 431
2022-05-01 $325,000 (16.1%) $490,052 (4.9%) 0.74 467
2022-06-01 $339,950 (21.9%) $472,212 (1.6%) 0.76 549
2022-07-01 $325,000 (12.5%) $466,184 (-0.7%) 0.74 618
2022-08-01 $326,625 (13.8%) $459,175 (-0.8%) 0.75 690
2022-09-01 $328,475 (12.3%) $450,762 (-3.0%) 0.77 719
2022-10-01 $320,500 (12.5%) $428,078 (-9.1%) 0.75 824
Brownsville's median listing price for 2022-10-01 was $320,500, a difference of $35,500 (12.5%) versus the prior year and $-7,975 versus the prior month.

Brownsville's median listing price comes in at 75% of the national average.

Brownsville's average listing price for 2022-10-01 was $428,078, a difference of $-42,586 (-9.1%) versus the prior year and $-22,684 versus the prior month.

For the 2022-10-01 period, Brownsville had 824 MLS listings, a difference of 105 listings (15%) versus the prior month and 354 listings (75%) 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
2018-01-01 133 days 1,648 sqft
2018-02-01 136 days 1,643 sqft
2018-03-01 134 days 1,650 sqft
2018-04-01 129 days 1,665 sqft
2018-05-01 116 days 1,676 sqft
2018-06-01 116 days 1,700 sqft
2018-07-01 117 days 1,709 sqft
2018-08-01 119 days 1,694 sqft
2018-09-01 123 days 1,694 sqft
2018-10-01 130 days 1,709 sqft
2018-11-01 136 days 1,709 sqft
2018-12-01 143 days 1,708 sqft
2019-01-01 140 days 1,689 sqft
2019-02-01 128 days 1,671 sqft
2019-03-01 128 days 1,659 sqft
2019-04-01 123 days 1,650 sqft
2019-05-01 110 days 1,664 sqft
2019-06-01 106 days 1,684 sqft
2019-07-01 111 days 1,676 sqft
2019-08-01 115 days 1,671 sqft
2019-09-01 120 days 1,676 sqft
2019-10-01 123 days 1,688 sqft
2019-11-01 122 days 1,678 sqft
2019-12-01 124 days 1,682 sqft
2020-01-01 124 days 1,666 sqft
2020-02-01 122 days 1,723 sqft
2020-03-01 116 days 1,732 sqft
2020-04-01 123 days 1,710 sqft
2020-05-01 123 days 1,717 sqft
2020-06-01 128 days 1,782 sqft
2020-07-01 121 days 1,780 sqft
2020-08-01 109 days 1,758 sqft
2020-09-01 101 days 1,789 sqft
2020-10-01 106 days 1,800 sqft
2020-11-01 105 days 1,823 sqft
2020-12-01 107 days 1,800 sqft
2021-01-01 108 days 1,848 sqft
2021-02-01 95 days 1,825 sqft
2021-03-01 95 days 1,886 sqft
2021-04-01 60 days 1,912 sqft
2021-05-01 51 days 1,938 sqft
2021-06-01 54 days 1,889 sqft
2021-07-01 43 days 1,882 sqft
2021-08-01 52 days 1,876 sqft
2021-09-01 53 days 1,902 sqft
2021-10-01 56 days 1,866 sqft
2021-11-01 57 days 1,856 sqft
2021-12-01 59 days 1,854 sqft
2022-01-01 68 days 1,943 sqft
2022-02-01 53 days 1,882 sqft
2022-03-01 49 days 1,881 sqft
2022-04-01 44 days 1,843 sqft
2022-05-01 43 days 1,802 sqft
2022-06-01 39 days 1,849 sqft
2022-07-01 46 days 1,808 sqft
2022-08-01 50 days 1,793 sqft
2022-09-01 59 days 1,799 sqft
2022-10-01 59 days 1,819 sqft
Brownsville's median listing age (time on market) for 2022-10-01 was 59 days. This is 5% longer than the same period one year ago.

Brownsville's median square footage for active listings during the 2022-10-01 period was 1,819 sqft. One year prior, the average listing was 1,866 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.