Brownsville VA Loans

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 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 5.43% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.46% and one month ago for the week of 2022-04-08, the average rate was 4.99%.

    The average rate one year ago was 3.1%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.4%.

    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 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. Total Fees
    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 & INVESTMENT LLC 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 $215,000 (8.6%) $297,178 (3.3%) 0.79 1,876
    2018-02-01 $217,000 (9.5%) $298,759 (2.8%) 0.78 1,886
    2018-03-01 $219,900 (10.3%) $312,323 (5.9%) 0.76 1,865
    2018-04-01 $222,000 (7.0%) $314,268 (6.6%) 0.75 1,810
    2018-05-01 $229,750 (6.9%) $321,586 (7.9%) 0.77 1,801
    2018-06-01 $239,000 (8.7%) $324,761 (5.5%) 0.80 1,836
    2018-07-01 $239,000 (8.7%) $322,783 (5.0%) 0.80 1,860
    2018-08-01 $234,000 (6.4%) $319,285 (4.1%) 0.78 1,852
    2018-09-01 $228,000 (3.7%) $316,279 (4.0%) 0.76 1,779
    2018-10-01 $229,000 (6.5%) $326,640 (7.8%) 0.77 1,747
    2018-11-01 $228,500 (4.3%) $320,363 (5.1%) 0.77 1,742
    2018-12-01 $227,500 (3.5%) $315,457 (3.2%) 0.78 1,700
    2019-01-01 $224,450 (4.4%) $308,422 (3.8%) 0.77 1,618
    2019-02-01 $224,000 (3.2%) $310,619 (4.0%) 0.75 1,637
    2019-03-01 $229,386 (4.3%) $314,286 (0.6%) 0.75 1,638
    2019-04-01 $229,950 (3.6%) $314,347 (0.0%) 0.72 1,651
    2019-05-01 $234,950 (2.3%) $317,554 (-1.3%) 0.72 1,652
    2019-06-01 $234,900 (-1.7%) $319,745 (-1.5%) 0.72 1,675
    2019-07-01 $239,450 (0.2%) $327,692 (1.5%) 0.74 1,616
    2019-08-01 $240,500 (2.8%) $335,090 (5.0%) 0.76 1,593
    2019-09-01 $243,750 (6.9%) $343,925 (8.7%) 0.77 1,565
    2019-10-01 $244,500 (6.8%) $346,125 (6.0%) 0.78 1,551
    2019-11-01 $244,900 (7.2%) $342,639 (7.0%) 0.79 1,525
    2019-12-01 $239,700 (5.4%) $337,558 (7.0%) 0.80 1,532
    2020-01-01 $239,000 (6.5%) $333,302 (8.1%) 0.80 1,450
    2020-02-01 $239,000 (6.7%) $336,828 (8.4%) 0.77 1,452
    2020-03-01 $249,000 (8.6%) $335,382 (6.7%) 0.78 1,420
    2020-04-01 $248,750 (8.2%) $335,684 (6.8%) 0.77 1,397
    2020-05-01 $255,000 (8.5%) $415,673 (30.9%) 0.77 1,348
    2020-06-01 $265,388 (13.0%) $428,097 (33.9%) 0.78 1,191
    2020-07-01 $268,750 (12.2%) $443,605 (35.4%) 0.77 1,080
    2020-08-01 $259,000 (7.7%) $458,524 (36.8%) 0.74 1,015
    2020-09-01 $265,000 (8.7%) $471,317 (37.0%) 0.76 963
    2020-10-01 $264,000 (8.0%) $459,337 (32.7%) 0.75 887
    2020-11-01 $264,500 (8.0%) $464,263 (35.5%) 0.76 855
    2020-12-01 $269,895 (12.6%) $469,778 (39.2%) 0.79 821
    2021-01-01 $275,000 (15.1%) $478,717 (43.6%) 0.81 710
    2021-02-01 $272,450 (14.0%) $450,327 (33.7%) 0.78 636
    2021-03-01 $270,750 (8.7%) $462,414 (37.9%) 0.76 581
    2021-04-01 $281,750 (13.3%) $498,792 (48.6%) 0.76 494
    2021-05-01 $297,000 (16.5%) $536,180 (29.0%) 0.78 421
    2021-06-01 $298,450 (12.5%) $542,813 (26.8%) 0.78 392
    2021-07-01 $297,000 (10.5%) $536,151 (20.9%) 0.77 449
    2021-08-01 $297,000 (14.7%) $516,982 (12.8%) 0.78 499
    2021-09-01 $299,000 (12.8%) $509,005 (8.0%) 0.79 517
    2021-10-01 $294,000 (11.4%) $517,058 (12.6%) 0.77 535
    2021-11-01 $300,000 (13.4%) $530,713 (14.3%) 0.79 529
    2021-12-01 $305,000 (13.0%) $550,528 (17.2%) 0.81 522
    2022-01-01 $325,000 (18.2%) $577,918 (20.7%) 0.87 457
    2022-02-01 $325,000 (19.3%) $580,656 (28.9%) 0.83 460
    2022-03-01 $325,000 (20.0%) $582,848 (26.0%) 0.80 450
    2022-04-01 $329,000 (16.8%) $573,001 (14.9%) 0.77 483
    Brownsville's median listing price for 2022-04-01 was $329,000, a difference of $47,250 (16.8%) versus the prior year and $4,000 versus the prior month.

    Brownsville's median listing price comes in at 77% of the national average.

    Brownsville's average listing price for 2022-04-01 was $573,001, a difference of $74,209 (14.9%) versus the prior year and $-9,847 versus the prior month.

    For the 2022-04-01 period, Brownsville had 483 MLS listings, a difference of 33 listings (7%) versus the prior month and -11 listings (-2%) 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
    2018-01-01 135 days 1,638 sqft
    2018-02-01 136 days 1,627 sqft
    2018-03-01 134 days 1,650 sqft
    2018-04-01 128 days 1,670 sqft
    2018-05-01 117 days 1,680 sqft
    2018-06-01 119 days 1,700 sqft
    2018-07-01 121 days 1,713 sqft
    2018-08-01 122 days 1,698 sqft
    2018-09-01 127 days 1,693 sqft
    2018-10-01 132 days 1,705 sqft
    2018-11-01 137 days 1,707 sqft
    2018-12-01 144 days 1,703 sqft
    2019-01-01 138 days 1,689 sqft
    2019-02-01 126 days 1,660 sqft
    2019-03-01 127 days 1,649 sqft
    2019-04-01 114 days 1,644 sqft
    2019-05-01 107 days 1,659 sqft
    2019-06-01 102 days 1,689 sqft
    2019-07-01 109 days 1,692 sqft
    2019-08-01 114 days 1,697 sqft
    2019-09-01 115 days 1,714 sqft
    2019-10-01 115 days 1,716 sqft
    2019-11-01 108 days 1,720 sqft
    2019-12-01 114 days 1,723 sqft
    2020-01-01 115 days 1,720 sqft
    2020-02-01 115 days 1,748 sqft
    2020-03-01 102 days 1,773 sqft
    2020-04-01 104 days 1,733 sqft
    2020-05-01 107 days 1,776 sqft
    2020-06-01 114 days 1,802 sqft
    2020-07-01 106 days 1,827 sqft
    2020-08-01 96 days 1,820 sqft
    2020-09-01 99 days 1,900 sqft
    2020-10-01 101 days 1,837 sqft
    2020-11-01 102 days 1,914 sqft
    2020-12-01 106 days 1,853 sqft
    2021-01-01 108 days 1,887 sqft
    2021-02-01 89 days 1,889 sqft
    2021-03-01 88 days 1,940 sqft
    2021-04-01 63 days 2,007 sqft
    2021-05-01 50 days 2,030 sqft
    2021-06-01 54 days 2,002 sqft
    2021-07-01 44 days 1,944 sqft
    2021-08-01 48 days 1,924 sqft
    2021-09-01 50 days 1,965 sqft
    2021-10-01 53 days 1,942 sqft
    2021-11-01 53 days 1,914 sqft
    2021-12-01 56 days 1,898 sqft
    2022-01-01 66 days 2,004 sqft
    2022-02-01 58 days 1,925 sqft
    2022-03-01 51 days 1,883 sqft
    2022-04-01 46 days 1,856 sqft
    Brownsville's median listing age (time on market) for 2022-04-01 was 46 days. This is -27% shorter than the same period one year ago.

    Brownsville's median square footage for active listings during the 2022-04-01 period was 1,856 sqft. One year prior, the average listing was 2,007 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.