El Paso VA Loan Rates, Closing Costs & Stats

EL PASO, 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.

El Paso's 119 lenders originated 2,368 VA loans during 2023. The total origination value was $671,990,000, with an average VA loan value of $283,780.

El Paso VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in El Paso averaged 6.57% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

El Paso's average VA mortgage closing costs are $6,138.

The average rate for the prior week (2024-04-05) was 6.31% and one month ago for the week of 2024-03-08, the average rate was 6.54%.

The average rate one year ago was 5.84%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.49%.

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

El Paso 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 El Paso level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 393 6.60% $7,251
UNITED WHOLESALE MORTGAGE, LLC 205 6.23% $5,958
NAVY FEDERAL CREDIT UNION 142 5.86% $6,997
Rocky Mountain Mortgage Company 124 6.21% $4,798
AMERICAN PACIFIC MORTGAGE CORPORATION 119 6.50% $11,925
CARDINAL FINANCIAL 93 6.48% $14,387
CADENCE LENDING GROUP, INC. 81 6.28% $10,072
USAA Federal Savings Bank 62 6.20% $10,110
City Bank 57 5.94% $8,418
CMG MORTGAGE, INC. 55 6.13% $13,083
Commerce Home Mortgage, Inc. 51 6.59% $11,637
CROSSCOUNTRY MORTGAGE, LLC 48 6.53% $9,103
PATRIOT MORTGAGE COMPANY 43 5.86% $8,209
BROKER SOLUTIONS, INC. 41 6.66% $10,001
First National Bank Texas 40 6.03% $6,829
ARK-LA-TEX FINANCIAL SERVICES, LLC. 39 6.52% $9,512
MOVEMENT MORTGAGE, LLC 38 6.42% $9,856
QUICKEN LOANS, LLC 33 6.23% $12,388
EUSTIS AND AMERICAN MORTGAGE COMPANY 31 6.53% $7,501
GUARANTEED RATE, INC. 31 6.23% $9,325
PENNYMAC LOAN SERVICES, LLC 29 5.65% $8,891
MORTGAGE SOLUTIONS OF COLORADO, LLC 23 7.55% $4,283
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.11% $8,863
Plains Commerce Bank 20 6.13% $9,565
PLAZA HOME MORTGAGE, INC. 19 6.30% $13,236
Town Square Mortgage & Investments, Inc. 19 6.38% $9,268
FREEDOM MORTGAGE CORPORATION 18 6.49% $10,609
THE MORTGAGE LINK, INC. 18 6.76% $15,381
Nations Lending Corporation 14 6.15% $8,509
Century Mortgage Company DBA Century Lending Company 13 6.63% $8,795
NEWREZ LLC 12 6.47% $7,934
Flagstar Bank, FSB 12 6.85% $8,313
PENTAGON FEDERAL CREDIT UNION 12 5.63% $10,015
SECURITYNATIONAL MORTGAGE COMPANY 10 6.84% $8,151
LOANDEPOT.COM, LLC 9 6.43% $9,363
NBKC BANK 8 6.19% $8,489
FirstLight Federal Credit Union 8 5.97% $5,997
Waterstone Mortgage Corporation 8 6.24% $10,728
Ixonia Bank 8 6.66% $11,879
GUILD MORTGAGE COMPANY 7 6.77% $8,971
WILLOW BEND MORTGAGE COMPANY, LLC 7 6.34% $11,610
CASTLE & COOKE MORTGAGE, LLC 7 6.20% $12,849
Armed Forces Bank 6 6.23% $9,607
AMCAP MORTGAGE, LTD. 6 6.44% $8,893
Sunflower Bank 6 6.00% $9,357
PLANET HOME LENDING, LLC 6 6.42% $8,884
MORTGAGEONE, INC. 6 6.92% $6,836
V.I.P. MORTGAGE, INC. 5 6.20% $9,622
MUTUAL OF OMAHA MORTGAGE, INC. 5 5.55% $8,861
Barrington Bank & Trust Company, N.A. 5 5.81% $8,215
Network Funding, L.P. 5 5.86% $6,158
UNION HOME MORTGAGE CORP. 5 5.95% $13,460
MANN FINANCIAL INC. 5 6.40% $4,301
PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.55% $14,101
Equity Prime Mortgage LLC 4 7.34% $7,369
MORTGAGE FINANCIAL SERVICES, LLC 4 6.13% $7,482
Paramount Residential Mortgage Group, Inc. 4 6.44% $12,013
First Option Mortgage, LLC 4 6.84% $14,442
Mr. Cooper ( Nationstar Mortgage ) 4 6.31% $11,730
NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.22% $8,605
GENEVA FINANCIAL, LLC 4 6.69% $9,220
SUN WEST MORTGAGE COMPANY, INC. 3 7.00% $13,189
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.29% $10,724
Northpointe Bank 3 6.17% $13,432
Wells Fargo Bank 3 5.92% $13,107
Citizens Bank 3 6.04% $9,948
COMPASS MORTGAGE, INC. 3 6.50% $9,509
JPMorgan Chase Bank 3 6.29% $2,824
INTERCAP LENDING INC. 3 6.42% $4,515
LAKEVIEW LOAN SERVICING, LLC 2 5.50% $10,671
CHERRY CREEK MORTGAGE, LLC 2 5.44% $729
AmeriHome Mortgage Company, LLC 2 6.31% $8,634
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.50% $4,865
DIRECTIONS EQUITY, LLC 2 4.99% $7,814
The Loan Store, Inc. 2 5.88% $13,140
American Mortgage & Equity Consultants, Inc. 2 6.75% $7,407
Keystone Funding, Inc. 2 7.00% $5,446
OCMBC, INC. 2 6.50% $13,103
LEADERONE FINANCIAL CORPORATION 2 6.00% $9,989
Credence Funding Corporation 2 5.31% $3,848
Mid-Continent Funding, Inc. 2 6.44% $8,724
FLAT BRANCH MORTGAGE, INC. 2 6.25% $11,556
ACADEMY MORTGAGE CORPORATION 2 6.56% $17,338
NATIONS DIRECT MORTGAGE, LLC 2 6.44% $6,036
CHURCHILL MORTGAGE CORPORATION 2 6.63% $8,412
Citizens Bank of Las Cruces 1 6.25% $10,130
Citibank 1 5.75% $7,215
ENCORE BANK 1 6.25% $9,408
Evolve Bank & Trust 1 6.38% $12,306
FIRST CENTENNIAL MORTGAGE CORPORATION 1 5.75% $6,528
First United Bank and Trust Company 1 5.38% $8,904
Gateway First Bank 1 6.25% $2,218
GMFS LLC 1 6.75% $6,061
GUARANTEED RATE AFFINITY, LLC 1 6.75% $2,692
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $6,810
INTELLILOAN, INC. 1 5.99% $2,906
JMAC LENDING, INC. 1 6.25% $7,392
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $14,324
MASON MCDUFFIE MORTGAGE CORPORATION 1 7.13% $6,329
MICHIGAN MUTUAL, INC. 1 5.63% $2,125
MID AMERICA MORTGAGE, INC. 1 7.75% $3,836
CANOPY MORTGAGE, LLC 1 6.63% $12,803
CALCON MUTUAL MORTGAGE LLC 1 7.75% $4,470
BNC National Bank 1 6.38% $5,033
BELEM SERVICING LLC 1 7.00% $1,990
NEW DAY FINANCIAL, LLC 1 6.25% $12,931
PANORAMA MORTGAGE GROUP, LLC 1 6.38% $8,766
BAY EQUITY LLC 1 5.63% $13,307
Platinum Home Mortgage Corporation 1 7.25% $7,410
AMERISAVE MORTGAGE CORPORATION 1 6.75% $12,021
Presidential Bank, FSB 1 5.75% $19,824
SeaTrust Mortgage Company 1 6.38% $7,664
SWBC MORTGAGE CORPORATION 1 7.25% $11,717
T2 FINANCIAL LLC 1 7.13% $2,916
The Federal Savings Bank 1 6.63% $8,958
TOWNE MORTGAGE COMPANY 1 7.25% $11,234
AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $4,773
US MORTGAGE CORPORATION 1 5.63% $11,454
VILLAGE CAPITAL MORTGAGE 1 6.25% $3,785

The top El Paso VA lender as defined by loan originations is Mortgage Research Center, LLC, with 393 VA loans originated. Their average total fees are $7,251, which is $1,292 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee El Paso VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,283), Rocky Mountain Mortgage Company ($4,798), UNITED WHOLESALE MORTGAGE, LLC ($5,958), First National Bank Texas ($6,829) and NAVY FEDERAL CREDIT UNION ($6,997).

The lowest rate El Paso VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.63%), PENNYMAC LOAN SERVICES, LLC (5.65%), PATRIOT MORTGAGE COMPANY (5.86%), NAVY FEDERAL CREDIT UNION (5.86%) and City Bank (5.94%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - El Paso (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 $167,950 (2.2%) $197,104 (-3.2%) 0.62 3,504
2018-02-01 $168,225 (2.0%) $196,667 (-3.7%) 0.61 3,531
2018-03-01 $169,775 (2.3%) $198,781 (-3.0%) 0.60 3,449
2018-04-01 $172,225 (3.8%) $200,788 (-3.6%) 0.58 3,259
2018-05-01 $173,488 (3.9%) $201,242 (-3.3%) 0.58 3,213
2018-06-01 $175,000 (4.2%) $203,328 (-4.6%) 0.58 3,162
2018-07-01 $176,475 (5.1%) $205,403 (-3.7%) 0.59 3,158
2018-08-01 $177,250 (5.5%) $204,217 (-3.5%) 0.59 3,066
2018-09-01 $177,388 (5.6%) $203,735 (-3.9%) 0.60 3,075
2018-10-01 $176,975 (5.5%) $202,710 (-3.2%) 0.60 3,188
2018-11-01 $178,475 (6.0%) $203,760 (-3.3%) 0.61 3,144
2018-12-01 $179,900 (6.8%) $206,745 (4.5%) 0.62 2,987
2019-01-01 $183,725 (9.4%) $208,978 (6.0%) 0.63 2,797
2019-02-01 $184,975 (10.0%) $210,193 (6.9%) 0.62 2,784
2019-03-01 $187,629 (10.5%) $214,423 (7.9%) 0.61 2,692
2019-04-01 $189,925 (10.3%) $218,853 (9.0%) 0.60 2,620
2019-05-01 $191,475 (10.4%) $221,680 (10.2%) 0.60 2,621
2019-06-01 $191,950 (9.7%) $222,335 (9.4%) 0.60 2,597
2019-07-01 $191,450 (8.5%) $222,094 (8.1%) 0.60 2,654
2019-08-01 $191,727 (8.2%) $223,539 (9.5%) 0.61 2,638
2019-09-01 $190,755 (7.5%) $224,757 (10.3%) 0.61 2,611
2019-10-01 $190,583 (7.7%) $226,490 (11.7%) 0.61 2,594
2019-11-01 $195,000 (9.3%) $228,928 (12.4%) 0.64 2,576
2019-12-01 $193,450 (7.5%) $226,399 (9.5%) 0.65 2,442
2020-01-01 $192,950 (5.0%) $226,825 (8.5%) 0.64 2,381
2020-02-01 $192,950 (4.3%) $228,575 (8.8%) 0.63 2,408
2020-03-01 $195,975 (4.5%) $230,152 (7.3%) 0.61 2,308
2020-04-01 $193,950 (2.1%) $228,213 (4.3%) 0.61 2,249
2020-05-01 $202,950 (6.0%) $233,740 (5.4%) 0.62 1,944
2020-06-01 $210,470 (9.7%) $243,421 (9.5%) 0.62 1,598
2020-07-01 $217,088 (13.4%) $245,834 (10.7%) 0.63 1,458
2020-08-01 $216,066 (12.7%) $248,534 (11.2%) 0.62 1,478
2020-09-01 $215,700 (13.1%) $251,572 (11.9%) 0.62 1,413
2020-10-01 $225,950 (18.6%) $256,073 (13.1%) 0.65 1,413
2020-11-01 $232,100 (19.0%) $262,264 (14.6%) 0.68 1,340
2020-12-01 $228,107 (17.9%) $261,980 (15.7%) 0.68 1,353
2021-01-01 $230,000 (19.2%) $267,421 (17.9%) 0.69 1,265
2021-02-01 $230,462 (19.4%) $269,435 (17.9%) 0.67 1,188
2021-03-01 $234,975 (19.9%) $267,420 (16.2%) 0.67 1,148
2021-04-01 $237,611 (22.5%) $268,856 (17.8%) 0.64 1,073
2021-05-01 $245,000 (20.7%) $277,518 (18.7%) 0.65 1,027
2021-06-01 $248,950 (18.3%) $287,782 (18.2%) 0.66 1,016
2021-07-01 $249,900 (15.1%) $285,176 (16.0%) 0.66 1,061
2021-08-01 $247,950 (14.8%) $284,989 (14.7%) 0.66 1,122
2021-09-01 $247,950 (15.0%) $286,008 (13.7%) 0.66 1,098
2021-10-01 $250,000 (10.6%) $292,552 (14.3%) 0.67 1,161
2021-11-01 $253,588 (9.3%) $293,015 (11.7%) 0.68 1,104
2021-12-01 $255,950 (12.2%) $300,425 (14.7%) 0.69 1,022
2022-01-01 $261,500 (13.7%) $306,624 (14.7%) 0.71 911
2022-02-01 $267,656 (16.1%) $310,205 (15.1%) 0.70 881
2022-03-01 $275,000 (17.0%) $317,585 (18.8%) 0.69 870
2022-04-01 $280,000 (17.8%) $320,751 (19.3%) 0.67 931
2022-05-01 $282,600 (15.4%) $329,216 (18.6%) 0.65 1,014
2022-06-01 $281,600 (13.1%) $332,242 (15.5%) 0.63 1,171
2022-07-01 $284,950 (14.0%) $333,165 (16.8%) 0.64 1,498
2022-08-01 $285,475 (15.1%) $329,146 (15.5%) 0.66 1,538
2022-09-01 $291,225 (17.5%) $334,289 (16.9%) 0.68 1,576
2022-10-01 $291,725 (16.7%) $333,290 (13.9%) 0.69 1,840
2022-11-01 $290,975 (14.7%) $328,828 (12.2%) 0.70 1,890
2022-12-01 $291,250 (13.8%) $329,155 (9.6%) 0.72 1,884
2023-01-01 $293,475 (12.2%) $333,079 (8.6%) 0.73 1,877
2023-02-01 $296,975 (11.0%) $336,712 (8.5%) 0.72 1,829
2023-03-01 $298,938 (8.7%) $342,437 (7.8%) 0.71 1,822
2023-04-01 $300,030 (7.2%) $350,990 (9.4%) 0.70 1,666
2023-05-01 $310,000 (9.7%) $355,655 (8.0%) 0.70 1,741
2023-06-01 $303,888 (7.9%) $352,426 (6.1%) 0.68 1,951
2023-07-01 $304,800 (7.0%) $352,381 (5.8%) 0.69 2,112
2023-08-01 $300,950 (5.4%) $352,679 (7.2%) 0.69 2,189
2023-09-01 $299,500 (2.8%) $352,175 (5.4%) 0.70 2,253
2023-10-01 $294,950 (1.1%) $348,420 (4.5%) 0.69 2,414
2023-11-01 $294,213 (1.1%) $345,927 (5.2%) 0.70 2,501
2023-12-01 $295,000 (1.3%) $344,035 (4.5%) 0.72 2,330
2024-01-01 $295,000 (0.5%) $339,830 (2.0%) 0.72 2,303
2024-02-01 $298,570 (0.5%) $340,766 (1.2%) 0.72 2,435
2024-03-01 $299,500 (0.2%) $345,633 (0.9%) 0.70 2,449
El Paso's median listing price for 2024-03-01 was $299,500, a difference of $562 (0.2%) versus the prior year and $930 versus the prior month.

El Paso's median listing price comes in at 70% of the national average.

El Paso's average listing price for 2024-03-01 was $345,633, a difference of $3,196 (0.9%) versus the prior year and $4,867 versus the prior month.

For the 2024-03-01 period, El Paso had 2,449 MLS listings, a difference of 14 listings (1%) versus the prior month and 627 listings (34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - El Paso (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 97 days 1,800 sqft
2018-02-01 100 days 1,800 sqft
2018-03-01 86 days 1,803 sqft
2018-04-01 79 days 1,823 sqft
2018-05-01 80 days 1,823 sqft
2018-06-01 80 days 1,843 sqft
2018-07-01 78 days 1,846 sqft
2018-08-01 71 days 1,859 sqft
2018-09-01 71 days 1,859 sqft
2018-10-01 66 days 1,856 sqft
2018-11-01 70 days 1,855 sqft
2018-12-01 73 days 1,852 sqft
2019-01-01 83 days 1,840 sqft
2019-02-01 74 days 1,841 sqft
2019-03-01 69 days 1,869 sqft
2019-04-01 67 days 1,888 sqft
2019-05-01 65 days 1,905 sqft
2019-06-01 64 days 1,913 sqft
2019-07-01 58 days 1,899 sqft
2019-08-01 60 days 1,908 sqft
2019-09-01 65 days 1,899 sqft
2019-10-01 67 days 1,900 sqft
2019-11-01 72 days 1,913 sqft
2019-12-01 79 days 1,892 sqft
2020-01-01 81 days 1,886 sqft
2020-02-01 70 days 1,874 sqft
2020-03-01 66 days 1,884 sqft
2020-04-01 76 days 1,855 sqft
2020-05-01 83 days 1,892 sqft
2020-06-01 76 days 1,903 sqft
2020-07-01 66 days 1,936 sqft
2020-08-01 57 days 1,952 sqft
2020-09-01 46 days 1,909 sqft
2020-10-01 54 days 1,937 sqft
2020-11-01 65 days 1,967 sqft
2020-12-01 68 days 1,954 sqft
2021-01-01 67 days 1,954 sqft
2021-02-01 50 days 1,916 sqft
2021-03-01 50 days 1,925 sqft
2021-04-01 56 days 1,913 sqft
2021-05-01 44 days 1,987 sqft
2021-06-01 42 days 1,987 sqft
2021-07-01 43 days 1,975 sqft
2021-08-01 38 days 1,932 sqft
2021-09-01 44 days 1,937 sqft
2021-10-01 45 days 1,960 sqft
2021-11-01 52 days 1,964 sqft
2021-12-01 65 days 1,959 sqft
2022-01-01 55 days 1,945 sqft
2022-02-01 33 days 1,936 sqft
2022-03-01 36 days 1,910 sqft
2022-04-01 37 days 1,938 sqft
2022-05-01 30 days 1,938 sqft
2022-06-01 34 days 1,930 sqft
2022-07-01 32 days 1,930 sqft
2022-08-01 48 days 1,930 sqft
2022-09-01 52 days 1,941 sqft
2022-10-01 52 days 1,954 sqft
2022-11-01 60 days 1,941 sqft
2022-12-01 68 days 1,941 sqft
2023-01-01 73 days 1,933 sqft
2023-02-01 67 days 1,935 sqft
2023-03-01 60 days 1,930 sqft
2023-04-01 54 days 1,941 sqft
2023-05-01 50 days 1,950 sqft
2023-06-01 53 days 1,941 sqft
2023-07-01 57 days 1,951 sqft
2023-08-01 63 days 1,951 sqft
2023-09-01 64 days 1,941 sqft
2023-10-01 61 days 1,914 sqft
2023-11-01 65 days 1,899 sqft
2023-12-01 74 days 1,894 sqft
2024-01-01 76 days 1,877 sqft
2024-02-01 67 days 1,884 sqft
2024-03-01 58 days 1,897 sqft
El Paso's median listing age (time on market) for 2024-03-01 was 58 days. This is -3% shorter than the same period one year ago.

El Paso's median square footage for active listings during the 2024-03-01 period was 1,897 sqft. One year prior, the average listing was 1,930 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.