Del Rio VA Loan Rates, Closing Costs & Stats

Del Rio, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Del Rio's 31 lenders originated 119 VA loans during 2023. The total origination value was $34,895,000, with an average VA loan value of $293,235.

    Del Rio VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Del Rio averaged 6.27% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Del Rio's average VA mortgage closing costs are $7,120.

    The average rate for the prior week (2024-11-01) was 6.22% and one month ago for the week of 2024-10-04, the average rate was 5.85%.

    The average rate one year ago was 7.41%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.44%.

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

    Del Rio 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 Del Rio level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.74% $6,882
    Armed Forces Bank 14 6.41% $9,416
    UNITED WHOLESALE MORTGAGE, LLC 10 5.82% $7,386
    PENNYMAC LOAN SERVICES, LLC 7 5.50% $10,765
    USAA Federal Savings Bank 7 6.50% $8,638
    NAVY FEDERAL CREDIT UNION 6 5.71% $3,000
    Flagstar Bank, FSB 6 6.31% $8,157
    QUICKEN LOANS, LLC 6 6.60% $11,460
    NBKC BANK 5 6.33% $7,177
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.58% $5,861
    SFMC, LP 3 5.75% $8,559
    Barrington Bank & Trust Company, N.A. 2 5.88% $14,371
    GUARANTEED RATE, INC. 2 6.93% $9,776
    Century Mortgage Company DBA Century Lending Company 2 6.69% $12,460
    PLANET HOME LENDING, LLC 2 5.56% $10,484
    Sunflower Bank 2 5.88% $10,304
    Wells Fargo Bank 1 5.63% $10,846
    AMCAP MORTGAGE, LTD. 1 6.75% $15,796
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $3,694
    BARTON CREEK LENDING GROUP, LLC 1 5.50% $13,457
    CMG MORTGAGE, INC. 1 6.25% $12,791
    Farmers Bank & Trust 1 4.63% $13,510
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $15,506
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $12,707
    GUILD MORTGAGE COMPANY 1 6.63% $23,989
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $21,355
    NEWREZ LLC 1 5.75% $4,422
    Paramount Residential Mortgage Group, Inc. 1 6.63% $8,915
    Strong Home Mortgage, LLC 1 5.75% $17,698
    Wallick & Volk, Inc. 1 6.00% $5,733
    Academy Bank 1 5.75% $14,192

    The top Del Rio VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $6,882, which is $2,534 lower than the next largest lender, Armed Forces Bank.

    The lowest fee Del Rio VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,882), UNITED WHOLESALE MORTGAGE, LLC ($7,386), Armed Forces Bank ($9,416), .

    The lowest rate Del Rio VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.82%), Armed Forces Bank (6.41%), Mortgage Research Center, LLC (6.74%), .

    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.