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 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.