Corpus Christi VA Loan Rates, Closing Costs & Stats
CORPUS CHRISTI, 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.
Corpus Christi's 120 lenders originated 1,004 VA loans during 2022. The total origination value was $316,200,000, with an average VA loan value of $314,940.
Corpus Christi VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Corpus Christi
for the week of 2023-12-01, compared to the national average (all VA variants) of
6.774% for the same period.
Corpus Christi's average VA mortgage closing costs are $6,078.
The average rate for the prior week (2023-11-24) was 6.53% and one month ago for the week of 2023-10-27, the average rate was 7.47%.
The average rate one year ago was 6.35%.
For refis of the same type during the week of 2023-12-01, the average rate was 5.6%.
Corpus Christi 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 Corpus Christi level.
The top Corpus Christi VA lender as defined by loan originations is Mortgage Research Center, LLC, with
153 VA loans originated. Their average total fees are
$7,765, which is $258
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Corpus Christi VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($5,555), Mr. Cooper ( Nationstar Mortgage ) ($6,173), Gateway First Bank ($6,391), NAVY FEDERAL CREDIT UNION ($6,649) and DHI MORTGAGE COMPANY, LTD. ($7,506).
The lowest rate Corpus Christi VA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) (3.15%), PENNYMAC LOAN SERVICES, LLC (3.40%), CALIBER HOME LOANS, INC. (3.99%), GUARANTEED RATE, INC. (4.04%) and DHI MORTGAGE COMPANY, LTD. (4.10%).