Duncan VA Loan Rates, Closing Costs & Stats

Duncan, OK

  • 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.

    Duncan's 26 lenders originated 67 VA loans during 2023. The total origination value was $15,425,000, with an average VA loan value of $230,224.

    Duncan VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Duncan averaged 6.68% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Duncan's average VA mortgage closing costs are $4,703.

    The average rate for the prior week (2024-11-01) was 6.64% and one month ago for the week of 2024-10-04, the average rate was 6.07%.

    The average rate one year ago was 7.72%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.14%.

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

    Duncan 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 Duncan level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 20 6.75% $5,464
    First United Bank and Trust Company 5 6.45% $9,892
    QUICKEN LOANS, LLC 5 6.29% $7,454
    GUARANTEED RATE, INC. 4 6.28% $2,559
    Mr. Cooper ( Nationstar Mortgage ) 2 6.44% $6,611
    ASSOCIATED MORTGAGE CORPORATION 2 6.13% $7,731
    CARDINAL FINANCIAL 2 6.75% $11,535
    LOANDEPOT.COM, LLC 2 7.19% $7,022
    The Federal Savings Bank 2 6.88% $8,437
    LOANPAL, LLC 2 6.56% $8,476
    ROYAL UNITED MORTGAGE LLC 1 6.88% $7,753
    UNION HOME MORTGAGE CORP. 1 6.63% $4,846
    United Fidelity Funding Corp. 1 6.50% $15,155
    USAA Federal Savings Bank 1 6.63% $2,632
    VILLAGE CAPITAL MORTGAGE 1 5.75% $6,525
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $10,931
    Wells Fargo Bank 1 7.38% $2,024
    Arvest Bank 1 5.88% $1,940
    Barrington Bank & Trust Company, N.A. 1 6.75% $3,968
    CROSSCOUNTRY MORTGAGE, LLC 1 6.00% $2,601
    FREEDOM MORTGAGE CORPORATION 1 6.25% $10,238
    Gateway First Bank 1 8.25% $7,717
    Magnolia Bank 1 6.25% $14,346
    NAVY FEDERAL CREDIT UNION 1 5.38% $2,057
    NEW DAY FINANCIAL, LLC 1 7.99% $10,170
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.00% $7,296

    The top Duncan VA lender as defined by loan originations is Mortgage Research Center, LLC, with 20 VA loans originated. Their average total fees are $5,464, which is $4,428 lower than the next largest lender, First United Bank and Trust Company.

    The lowest fee Duncan VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,464), .

    The lowest rate Duncan VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.75%), .

    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.