El Paso VA Loans

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 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 153 lenders originated 5,112 VA loans during 2021. The total origination value was $1,136,260,000, with an average VA loan value of $222,273.

El Paso VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in El Paso averaged 5.61% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.62% and one month ago for the week of 2022-04-15, the average rate was 4.99%.

The average rate one year ago was 3.08%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.99%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the El Paso level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 560 2.86% $6,367
FREEDOM MORTGAGE CORPORATION 324 2.46% $2,373
Rocky Mountain Mortgage Company 272 3.10% $4,278
Commerce Home Mortgage, Inc. 243 2.85% $8,636
QUICKEN LOANS, LLC 206 2.41% $3,235
CERTAINTY HOME LOANS, LLC 164 2.98% $8,910
USAA Federal Savings Bank 160 2.89% $5,619
BROKER SOLUTIONS, INC. 157 2.68% $6,173
NAVY FEDERAL CREDIT UNION 146 2.51% $5,296
GUARANTEED RATE, INC. 124 2.98% $6,271
PENNYMAC LOAN SERVICES, LLC 113 2.44% $5,046
CADENCE LENDING GROUP, INC. 96 2.81% $6,304
MOVEMENT MORTGAGE, LLC 90 3.01% $6,874
CALIBER HOME LOANS, INC. 85 2.63% $5,025
VILLAGE CAPITAL & INVESTMENT LLC 84 2.38% $2,745
CLEARPATH LENDING 82 2.33% $3,725
LOANDEPOT.COM, LLC 79 2.87% $6,367
CMG MORTGAGE, INC. 79 3.09% $9,474
City Bank 68 2.68% $7,415
First National Bank Texas 62 2.66% $7,355
ARK-LA-TEX FINANCIAL SERVICES, LLC. 60 2.94% $7,257
UNITED WHOLESALE MORTGAGE, LLC 60 2.47% $5,638
Mr. Cooper ( Nationstar Mortgage ) 54 2.88% $3,786
PATRIOT MORTGAGE COMPANY 53 2.71% $5,518
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 53 3.20% $8,215
Wells Fargo Bank 53 2.48% $4,584
SUN WEST MORTGAGE COMPANY, INC. 52 2.91% $8,041
Lakeview Community Capital, LLC 45 2.57% $2,569
NEW DAY FINANCIAL, LLC 44 2.40% $4,331
Low VA Rates, LLC 44 2.46% $3,001
PLAZA HOME MORTGAGE, INC. 44 2.79% $7,967
LAKEVIEW LOAN SERVICING, LLC 43 2.54% $2,631
EUSTIS AND AMERICAN MORTGAGE COMPANY 32 2.73% $6,791
AMERICAN FINANCIAL NETWORK, INC. 30 2.50% $7,568
PENTAGON FEDERAL CREDIT UNION 27 2.32% $3,373
DAS Acquisition Company, LLC 26 3.09% $6,796
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 26 3.09% $7,930
HOME POINT FINANCIAL CORPORATION 25 2.52% $4,361
Gateway First Bank 21 2.47% $4,197
Carrington Mortgage Services, LLC 21 3.24% $2,955
LEGACY MORTGAGE LLC 21 3.15% $8,978
ANGEL OAK HOME LOANS LLC 16 2.93% $6,426
PLANET HOME LENDING, LLC 16 2.55% $1,814
NP, Inc. 15 2.37% $5,098
CROSSCOUNTRY MORTGAGE, LLC 15 2.96% $8,468
Citizens Bank 15 2.77% $9,224
LOANPAL, LLC 14 2.44% $5,194
AMERISAVE MORTGAGE CORPORATION 14 2.70% $4,590
MORTGAGE FINANCIAL SERVICES, LLC 14 2.76% $6,820
Town Square Mortgage & Investments, Inc. 13 3.09% $7,550
Barrington Bank & Trust Company, N.A. 13 2.71% $6,480
North American Savings Bank, F.S.B. 13 2.81% $5,061
ACCELERATE MORTGAGE, LLC 11 2.11% $5,512
MID AMERICA MORTGAGE, INC. 11 2.93% $3,752
HOMEBRIDGE FINANCIAL SERVICES, INC. 11 2.47% $3,500
Flagstar Bank, FSB 10 2.58% $3,880
InterContinental Capital Group, Inc 10 2.39% $3,394
First Guaranty Mortgage Corporation 10 2.40% $2,986
AMERICAN PACIFIC MORTGAGE CORPORATION 9 3.05% $6,423
The Federal Savings Bank 9 2.71% $5,662
NEWREZ LLC 9 2.72% $2,834
FirstLight Federal Credit Union 8 2.44% $6,057
Waterstone Mortgage Corporation 8 3.27% $5,404
UNION HOME MORTGAGE CORP. 8 3.00% $6,889
Network Funding, L.P. 6 2.99% $7,718
MANN FINANCIAL INC. 6 2.85% $8,212
Armed Forces Bank 6 2.46% $3,762
Paramount Residential Mortgage Group, Inc. 5 3.05% $5,934
KS StateBank 5 2.48% $6,267
KELLER MORTGAGE, LLC 5 2.88% $8,893
NBKC BANK 5 2.55% $5,992
GUILD MORTGAGE COMPANY 5 2.98% $5,742
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.91% $4,095
JPMorgan Chase Bank 4 2.88% $6,080
LENDUS, LLC 4 3.56% $11,988
V.I.P. MORTGAGE, INC. 4 2.84% $4,438
AMERICAN FINANCING CORPORATION 3 2.33% $6,248
SOUTHWEST FUNDING, LP 3 3.46% $9,744
AmeriHome Mortgage Company, LLC 3 3.13% $2,059
First Federal Bank 3 2.75% $4,289
HANCOCK MORTGAGE PARTNERS, LLC 3 3.38% $12,314
Paramount Bank 3 2.63% $9,422
AMCAP MORTGAGE, LTD. 3 2.58% $4,536
BNC National Bank 3 2.63% $7,643
SECURITYNATIONAL MORTGAGE COMPANY 3 3.00% $7,182
Citizens Bank of Las Cruces 3 2.88% $4,070
Sunflower Bank 2 2.68% $3,335
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.88% $8,388
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.75% $4,697
Credence Funding Corporation 2 2.25% $2,303
Home Mortgage Alliance Corp 2 2.50% $6,586
ACADEMY MORTGAGE CORPORATION 2 2.25% $9,671
NATIONS DIRECT MORTGAGE, LLC 2 3.06% $9,263
NETWORK CAPITAL FUNDING CORPORATION 2 2.31% $1,318
NATIONS RELIABLE LENDING, LLC 2 2.27% $4,818
GUARANTEED RATE AFFINITY, LLC 2 2.94% $6,597
NBH Bank 2 2.56% $8,024
BAYSHORE MORTGAGE FUNDING, LLC 2 2.31% $2,308
SOVEREIGN LENDING GROUP INCORPORATED 2 2.56% $6,713
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.31% $4,685
Magnolia Bank 2 2.38% $3,282
STEARNS LENDING, LLC 2 2.50% $5,186
Equity Prime Mortgage LLC 2 3.25% $2,736
MICHIGAN MUTUAL, INC. 2 4.44% $3,057
INTERLINC MORTGAGE SERVICES, LLC 2 2.88% $13,444
Mid-Continent Funding, Inc. 2 3.50% $5,114
Wyndham Capital Mortgage, Inc. 1 2.25% $3,221
AXIA FINANCIAL, LLC 1 3.00% $4,993
BOKF 1 3.00% $16,598
Capital Bank 1 2.25% $4,970
CASTLE & COOKE MORTGAGE, LLC 1 3.13% $6,223
CELEBRITY HOME LOANS, LLC 1 3.25% $7,222
Community First National Bank 1 2.38% $2,608
COMPASS MORTGAGE, INC. 1 2.25% $2,558
CONTOUR MORTGAGE CORPORATION 1 2.38% $2,904
CRESCENT MORTGAGE COMPANY 1 3.13% $1,961
DHI MORTGAGE COMPANY, LTD. 1 3.50% $10,644
FINANCE OF AMERICA MORTGAGE LLC 1 2.63% $3,032
First Financial Bank 1 2.38% $14,232
First Savings Bank 1 3.25% $7,960
First United Bank and Trust Company 1 2.88% $10,462
Florida Capital Bank 1 2.38% $12,918
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 2.50% $7,857
HOMESIDE FINANCIAL, LLC 1 2.75% $93
INTERCAP LENDING INC. 1 2.38% $2,891
Ixonia Bank 1 2.00% $9,378
LADERA LENDING, INC. 1 2.50% $5,842
LEADERONE FINANCIAL CORPORATION 1 2.38% $4,816
LIBERTY HOME MORTGAGE CORPORATION 1 2.88% $7,231
Manufacturers and Traders Trust Company 1 2.50% $3,039
Nations Lending Corporation 1 2.88% $3,114
NFM, INC. 1 3.13% $3,908
Northpointe Bank 1 2.50% $3,450
NTFN, INC. 1 2.75% $10,564
OCEANSIDE MORTGAGE COMPANY 1 2.75% $596
PANORAMA MORTGAGE GROUP, LLC 1 3.38% $4,969
PHH Mortgage Corporation 1 2.75% $2,362
PILGRIM MORTGAGE LLC 1 2.88% $6,437
Plains Commerce Bank 1 2.88% $8,030
PREMIA MORTGAGE, LLC 1 2.25% $1,567
Prime Choice Funding Inc. 1 2.50% $3,384
Prosperity Home Mortgage, LLC 1 3.75% $2,577
S1L, Inc. 1 3.50% $6,478
Sierra Pacific Mortgage Company, Inc. 1 2.38% $13,116
SIWELL, INC. 1 2.75% $19,310
Stifel Bank and Trust 1 2.50% $3,637
Strong Home Mortgage, LLC 1 2.38% $8,369
SWBC MORTGAGE CORPORATION 1 3.75% $3,027
TEXAS TECH 1 2.38% $19,648
THE MORTGAGE FIRM, INC. 1 2.50% $2,519
TIAA, FSB 1 2.75% $12,468
Truist Bank 1 2.75% $9,245
U.S. Bank 1 2.50% $15,570

The top El Paso VA lender as defined by loan originations is Mortgage Research Center, LLC, with 560 VA loans originated. Their average total fees are $6,367, which is $3,994 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee El Paso VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($1,814), FREEDOM MORTGAGE CORPORATION ($2,373), Lakeview Community Capital, LLC ($2,569), LAKEVIEW LOAN SERVICING, LLC ($2,631) and VILLAGE CAPITAL & INVESTMENT LLC ($2,745).

The lowest rate El Paso VA lenders (with over 10 loans originated) are ACCELERATE MORTGAGE, LLC (2.11%), PENTAGON FEDERAL CREDIT UNION (2.32%), CLEARPATH LENDING (2.33%), NP, Inc. (2.37%) and VILLAGE CAPITAL & INVESTMENT LLC (2.38%).


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 (2.4%) $197,260 (-2.7%) 0.62 3,503
2018-02-01 $168,450 (2.2%) $196,717 (-3.7%) 0.61 3,535
2018-03-01 $169,900 (2.4%) $199,118 (-2.7%) 0.59 3,447
2018-04-01 $172,350 (3.9%) $201,196 (-2.8%) 0.58 3,258
2018-05-01 $173,475 (3.9%) $201,206 (-3.0%) 0.58 3,210
2018-06-01 $175,000 (4.2%) $203,874 (-3.9%) 0.58 3,149
2018-07-01 $177,225 (5.5%) $205,829 (-2.9%) 0.59 3,152
2018-08-01 $177,638 (6.0%) $204,991 (-3.0%) 0.59 3,058
2018-09-01 $177,950 (6.0%) $203,850 (-3.2%) 0.60 3,076
2018-10-01 $177,450 (5.7%) $202,899 (-2.8%) 0.59 3,185
2018-11-01 $178,995 (6.4%) $204,032 (-2.9%) 0.60 3,144
2018-12-01 $179,950 (6.8%) $206,944 (4.6%) 0.62 2,967
2019-01-01 $183,925 (9.5%) $208,920 (5.9%) 0.63 2,807
2019-02-01 $184,975 (9.8%) $210,295 (6.9%) 0.62 2,804
2019-03-01 $187,121 (10.1%) $214,203 (7.6%) 0.61 2,695
2019-04-01 $189,950 (10.2%) $218,759 (8.7%) 0.60 2,629
2019-05-01 $191,595 (10.5%) $221,919 (10.3%) 0.59 2,625
2019-06-01 $192,000 (9.7%) $222,416 (9.1%) 0.59 2,590
2019-07-01 $191,750 (8.2%) $222,320 (8.0%) 0.60 2,642
2019-08-01 $192,907 (8.6%) $223,713 (9.1%) 0.61 2,565
2019-09-01 $193,132 (8.5%) $225,049 (10.4%) 0.61 2,482
2019-10-01 $191,710 (8.0%) $227,251 (12.0%) 0.61 2,556
2019-11-01 $196,950 (10.0%) $229,385 (12.4%) 0.64 2,570
2019-12-01 $193,475 (7.5%) $226,538 (9.5%) 0.65 2,433
2020-01-01 $192,950 (4.9%) $227,082 (8.7%) 0.64 2,375
2020-02-01 $192,950 (4.3%) $227,124 (8.0%) 0.62 2,406
2020-03-01 $195,975 (4.7%) $230,153 (7.5%) 0.61 2,304
2020-04-01 $194,100 (2.2%) $227,790 (4.1%) 0.60 2,250
2020-05-01 $202,950 (5.9%) $234,070 (5.5%) 0.62 1,933
2020-06-01 $211,725 (10.3%) $243,994 (9.7%) 0.62 1,593
2020-07-01 $217,725 (13.6%) $245,874 (10.6%) 0.62 1,444
2020-08-01 $216,950 (12.5%) $249,052 (11.3%) 0.62 1,464
2020-09-01 $216,200 (11.9%) $251,775 (11.9%) 0.62 1,403
2020-10-01 $226,750 (18.3%) $257,150 (13.2%) 0.65 1,392
2020-11-01 $233,390 (18.5%) $263,571 (14.9%) 0.67 1,323
2020-12-01 $229,285 (18.5%) $263,193 (16.2%) 0.67 1,345
2021-01-01 $229,999 (19.2%) $267,420 (17.8%) 0.68 1,245
2021-02-01 $230,225 (19.3%) $270,629 (19.2%) 0.66 1,169
2021-03-01 $234,975 (19.9%) $268,358 (16.6%) 0.66 1,132
2021-04-01 $238,273 (22.8%) $269,501 (18.3%) 0.64 1,051
2021-05-01 $245,000 (20.7%) $279,199 (19.3%) 0.64 1,006
2021-06-01 $249,925 (18.0%) $288,031 (18.1%) 0.65 1,001
2021-07-01 $249,500 (14.6%) $285,963 (16.3%) 0.65 1,033
2021-08-01 $247,950 (14.3%) $285,442 (14.6%) 0.65 1,104
2021-09-01 $247,950 (14.7%) $286,297 (13.7%) 0.65 1,076
2021-10-01 $251,950 (11.1%) $293,070 (14.0%) 0.66 1,149
2021-11-01 $253,850 (8.8%) $293,427 (11.3%) 0.67 1,091
2021-12-01 $257,475 (12.3%) $301,282 (14.5%) 0.69 1,015
2022-01-01 $261,450 (13.7%) $308,047 (15.2%) 0.70 913
2022-02-01 $266,635 (15.8%) $310,000 (14.6%) 0.68 877
2022-03-01 $274,475 (16.8%) $318,803 (18.8%) 0.68 859
2022-04-01 $279,950 (17.5%) $321,101 (19.2%) 0.66 914
El Paso's median listing price for 2022-04-01 was $279,950, a difference of $41,677 (17.5%) versus the prior year and $5,475 versus the prior month.

El Paso's median listing price comes in at 66% of the national average.

El Paso's average listing price for 2022-04-01 was $321,101, a difference of $51,600 (19.2%) versus the prior year and $2,298 versus the prior month.

For the 2022-04-01 period, El Paso had 914 MLS listings, a difference of 55 listings (6%) versus the prior month and -137 listings (-13%) 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
2018-01-01 105 days 1,790 sqft
2018-02-01 109 days 1,792 sqft
2018-03-01 102 days 1,800 sqft
2018-04-01 89 days 1,820 sqft
2018-05-01 89 days 1,820 sqft
2018-06-01 90 days 1,840 sqft
2018-07-01 88 days 1,844 sqft
2018-08-01 82 days 1,856 sqft
2018-09-01 78 days 1,856 sqft
2018-10-01 76 days 1,854 sqft
2018-11-01 79 days 1,854 sqft
2018-12-01 82 days 1,843 sqft
2019-01-01 89 days 1,840 sqft
2019-02-01 83 days 1,842 sqft
2019-03-01 74 days 1,866 sqft
2019-04-01 72 days 1,888 sqft
2019-05-01 68 days 1,901 sqft
2019-06-01 66 days 1,911 sqft
2019-07-01 61 days 1,900 sqft
2019-08-01 64 days 1,914 sqft
2019-09-01 67 days 1,914 sqft
2019-10-01 66 days 1,905 sqft
2019-11-01 70 days 1,913 sqft
2019-12-01 78 days 1,892 sqft
2020-01-01 81 days 1,883 sqft
2020-02-01 70 days 1,866 sqft
2020-03-01 66 days 1,880 sqft
2020-04-01 74 days 1,850 sqft
2020-05-01 85 days 1,885 sqft
2020-06-01 77 days 1,903 sqft
2020-07-01 66 days 1,942 sqft
2020-08-01 57 days 1,946 sqft
2020-09-01 46 days 1,909 sqft
2020-10-01 53 days 1,943 sqft
2020-11-01 64 days 1,976 sqft
2020-12-01 65 days 1,954 sqft
2021-01-01 64 days 1,954 sqft
2021-02-01 54 days 1,915 sqft
2021-03-01 51 days 1,925 sqft
2021-04-01 56 days 1,923 sqft
2021-05-01 45 days 1,987 sqft
2021-06-01 43 days 1,993 sqft
2021-07-01 44 days 1,982 sqft
2021-08-01 38 days 1,933 sqft
2021-09-01 43 days 1,939 sqft
2021-10-01 45 days 1,965 sqft
2021-11-01 52 days 1,971 sqft
2021-12-01 64 days 1,962 sqft
2022-01-01 57 days 1,946 sqft
2022-02-01 35 days 1,935 sqft
2022-03-01 38 days 1,900 sqft
2022-04-01 38 days 1,941 sqft
El Paso's median listing age (time on market) for 2022-04-01 was 38 days. This is -32% shorter than the same period one year ago.

El Paso's median square footage for active listings during the 2022-04-01 period was 1,941 sqft. One year prior, the average listing was 1,923 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.