El Paso VA Loan Rates, Closing Costs & Stats

EL PASO, TX

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    • 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 131 lenders originated 2,986 VA loans during 2022. The total origination value was $794,830,000, with an average VA loan value of $266,186.

    El Paso VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in El Paso averaged 6.66% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    El Paso's average VA mortgage closing costs are $5,789.

    The average rate for the prior week (2023-09-15) was 6.74% and one month ago for the week of 2023-08-18, the average rate was 6.92%.

    The average rate one year ago was 5.49%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.52%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 504 5.15% $8,211
    Rocky Mountain Mortgage Company 279 4.84% $6,154
    NAVY FEDERAL CREDIT UNION 152 4.19% $7,127
    Commerce Home Mortgage, Inc. 142 4.69% $10,044
    MOVEMENT MORTGAGE, LLC 129 4.88% $9,334
    UNITED WHOLESALE MORTGAGE, LLC 116 4.94% $7,377
    GUARANTEED RATE, INC. 102 4.82% $7,242
    BROKER SOLUTIONS, INC. 91 4.99% $9,713
    USAA Federal Savings Bank 83 4.52% $9,982
    CADENCE LENDING GROUP, INC. 81 4.87% $8,366
    AMERICAN PACIFIC MORTGAGE CORPORATION 66 5.59% $12,016
    CMG MORTGAGE, INC. 60 5.16% $10,751
    City Bank 57 4.62% $9,698
    QUICKEN LOANS, LLC 55 4.16% $10,402
    PATRIOT MORTGAGE COMPANY 53 4.98% $6,619
    CERTAINTY HOME LOANS, LLC 52 4.01% $10,673
    First National Bank Texas 41 4.54% $8,725
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 4.50% $8,554
    CROSSCOUNTRY MORTGAGE, LLC 37 5.59% $11,213
    LOANDEPOT.COM, LLC 34 4.56% $10,682
    PENNYMAC LOAN SERVICES, LLC 33 3.28% $5,134
    Nations Lending Corporation 29 5.38% $9,598
    CALIBER HOME LOANS, INC. 26 4.33% $8,661
    EUSTIS AND AMERICAN MORTGAGE COMPANY 26 4.81% $8,041
    FREEDOM MORTGAGE CORPORATION 19 4.32% $5,708
    ANGEL OAK HOME LOANS LLC 18 4.82% $9,364
    Plains Commerce Bank 16 4.68% $8,516
    MORTGAGE SOLUTIONS OF COLORADO, LLC 15 5.88% $9,211
    Wells Fargo Bank 15 3.69% $5,574
    Town Square Mortgage & Investments, Inc. 14 5.29% $8,342
    LEGACY MORTGAGE LLC 14 4.99% $11,250
    SUN WEST MORTGAGE COMPANY, INC. 14 4.86% $12,124
    Mr. Cooper ( Nationstar Mortgage ) 14 3.97% $3,705
    PENTAGON FEDERAL CREDIT UNION 13 3.79% $6,311
    CARDINAL FINANCIAL 12 4.89% $9,257
    HOME POINT FINANCIAL CORPORATION 10 4.69% $8,449
    AMERISAVE MORTGAGE CORPORATION 10 4.34% $11,291
    Citizens Bank 10 4.09% $9,237
    DAS Acquisition Company, LLC 10 5.01% $11,621
    Flagstar Bank, FSB 10 5.29% $8,170
    Network Funding, L.P. 10 5.44% $7,264
    Armed Forces Bank 9 4.24% $9,254
    North American Savings Bank, F.S.B. 8 4.41% $5,489
    First Guaranty Mortgage Corporation 8 5.16% $11,227
    V.I.P. MORTGAGE, INC. 8 5.11% $11,623
    AMCAP MORTGAGE, LTD. 7 5.43% $10,260
    CASTLE & COOKE MORTGAGE, LLC 7 5.07% $8,282
    Waterstone Mortgage Corporation 7 4.39% $10,531
    PLAZA HOME MORTGAGE, INC. 7 4.18% $8,233
    NEW DAY FINANCIAL, LLC 7 4.46% $6,910
    MORTGAGE FINANCIAL SERVICES, LLC 6 4.92% $7,223
    Century Mortgage Company DBA Century Lending Company 6 5.60% $12,980
    Equity Prime Mortgage LLC 5 5.68% $6,203
    Carrington Mortgage Services, LLC 5 4.58% $3,499
    LAKEVIEW LOAN SERVICING, LLC 5 3.15% $3,054
    U.S. Bank 5 4.90% $12,359
    CLEARPATH LENDING 4 2.56% $4,144
    Paramount Residential Mortgage Group, Inc. 4 4.62% $10,048
    MUTUAL OF OMAHA MORTGAGE, INC. 4 4.44% $8,636
    Northpointe Bank 4 4.84% $8,821
    BNC National Bank 4 4.09% $10,288
    Barrington Bank & Trust Company, N.A. 4 4.84% $9,141
    COMPASS MORTGAGE, INC. 4 5.72% $8,933
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 4.69% $7,240
    GUILD MORTGAGE COMPANY 4 4.09% $6,395
    PLANET HOME LENDING, LLC 4 4.00% $3,849
    Lakeview Community Capital, LLC 4 2.75% $2,427
    CHERRY CREEK MORTGAGE, LLC 4 5.72% $3,985
    FirstLight Federal Credit Union 4 4.71% $5,571
    UNION HOME MORTGAGE CORP. 4 5.16% $14,067
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.54% $8,592
    GUARANTEED RATE AFFINITY, LLC 3 4.29% $3,417
    NP, Inc. 3 2.96% $5,115
    SECURITYNATIONAL MORTGAGE COMPANY 3 4.96% $12,328
    EVERETT FINANCIAL, INC. 3 5.42% $9,878
    NBKC BANK 3 4.08% $8,040
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.54% $11,057
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 5.75% $12,851
    MANN FINANCIAL INC. 3 4.67% $7,852
    Amerifirst Financial, Inc. 2 5.00% $9,086
    FINANCE OF AMERICA MORTGAGE LLC 2 4.69% $13,854
    Citizens Bank of Las Cruces 2 4.38% $9,498
    GENEVA FINANCIAL, LLC 2 6.75% $17,370
    CHURCHILL MORTGAGE CORPORATION 2 5.25% $12,567
    ACADEMY MORTGAGE CORPORATION 2 5.19% $9,206
    Ixonia Bank 2 6.25% $12,245
    JPMorgan Chase Bank 2 5.00% $3,117
    LEADERONE FINANCIAL CORPORATION 2 5.44% $7,608
    LOANPAL, LLC 2 4.31% $8,421
    Low VA Rates, LLC 2 5.88% $4,607
    Mid-Continent Funding, Inc. 2 5.44% $8,127
    MORIA DEVELOPMENT, INC. 2 5.00% $12,062
    ZILLOW HOME LOANS, LLC 2 6.13% $6,719
    Bank of America 2 3.00% $17,705
    SOUTHWEST FUNDING, LP 2 5.69% $7,493
    SWBC MORTGAGE CORPORATION 2 4.44% $10,434
    The Central Trust Bank 2 3.44% $12,509
    The Federal Savings Bank 2 4.69% $11,079
    TOWNE MORTGAGE COMPANY 2 5.38% $11,155
    AMERICAN FINANCING CORPORATION 2 2.88% $3,879
    VILLAGE CAPITAL MORTGAGE 2 2.50% $3,026
    Credence Funding Corporation 2 2.63% $3,907
    Magnolia Bank 1 7.13% $8,390
    INTERCAP LENDING INC. 1 6.13% $664
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.00% $6,386
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.75% $20,697
    HANCOCK MORTGAGE PARTNERS, LLC 1 5.63% $5,807
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 5.63% $4,056
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $15,170
    Goldwater Bank, N.A. 1 5.25% $15,767
    Servion, Inc. 1 3.38% $3,075
    SFMC, LP 1 5.13% $18,031
    First Horizon Bank 1 5.00% $4,828
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.25% $2,258
    AMERICAN INTERNET MORTGAGE, INC. 1 4.75% $15,336
    ALAMEDA MORTGAGE CORPORATION 1 5.13% $7,231
    T2 FINANCIAL LLC 1 3.25% $4,762
    CLM MORTGAGE, INC 1 4.75% $13,802
    ENVOY MORTGAGE, LTD 1 4.25% $17,413
    THRIVE MORTGAGE, LLC 1 3.75% $15,892
    Community First National Bank 1 5.13% $13,129
    ENCORE BANK 1 4.75% $16,012
    NEWREZ LLC 1 6.63% $12,112
    NETWORK CAPITAL FUNDING CORPORATION 1 4.50% $11,810
    NATIONS DIRECT MORTGAGE, LLC 1 5.63% $9,462
    BOKF 1 3.00% $17,048
    CANOPY MORTGAGE, LLC 1 5.25% $15,564
    ACOPIA, LLC 1 4.13% $8,348
    Austin Capital Bank SSB 1 6.13% $10,936
    ASPIRE FINANCIAL, INC. 1 2.75% $2,521
    PILGRIM MORTGAGE LLC 1 5.75% $20,256

    The top El Paso VA lender as defined by loan originations is Mortgage Research Center, LLC, with 504 VA loans originated. Their average total fees are $8,211, which is $2,057 higher than the next largest lender, Rocky Mountain Mortgage Company.

    The lowest fee El Paso VA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,705), PENNYMAC LOAN SERVICES, LLC ($5,134), Wells Fargo Bank ($5,574), FREEDOM MORTGAGE CORPORATION ($5,708) and Rocky Mountain Mortgage Company ($6,154).

    The lowest rate El Paso VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.28%), Wells Fargo Bank (3.69%), PENTAGON FEDERAL CREDIT UNION (3.79%), Mr. Cooper ( Nationstar Mortgage ) (3.97%) and CERTAINTY HOME LOANS, LLC (4.01%).

    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 (-3.6%) 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%) 0.63 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 2,621
    2019-05-01 $191,475 (10.4%) $222,261 (10.4%) 0.60 2,623
    2019-06-01 $191,950 (9.7%) $222,335 (9.4%) 0.60 2,599
    2019-07-01 $191,450 (8.5%) $222,076 (8.1%) 0.60 2,655
    2019-08-01 $191,673 (8.1%) $223,525 (9.5%) 0.61 2,638
    2019-09-01 $190,731 (7.5%) $224,751 (10.3%) 0.61 2,612
    2019-10-01 $190,579 (7.7%) $226,490 (11.7%) 0.62 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 (5.2%) 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 $253,700 (9.3%) $293,024 (11.7%) 0.68 1,105
    2021-12-01 $255,950 (12.2%) $300,428 (14.7%) 0.69 1,023
    2022-01-01 $261,500 (13.7%) $306,624 (14.7%) 0.71 912
    2022-02-01 $267,751 (16.2%) $310,210 (15.1%) 0.70 882
    2022-03-01 $275,000 (17.0%) $317,583 (18.8%) 0.69 871
    2022-04-01 $280,000 (17.8%) $320,768 (19.3%) 0.67 932
    2022-05-01 $282,600 (15.4%) $329,224 (18.6%) 0.65 1,015
    2022-06-01 $281,600 (13.1%) $332,247 (15.5%) 0.63 1,172
    2022-07-01 $284,950 (14.0%) $333,168 (16.8%) 0.64 1,499
    2022-08-01 $285,475 (15.1%) $329,151 (15.5%) 0.66 1,539
    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 $290,863 (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 $293,238 (12.1%) $333,092 (8.6%) 0.73 1,872
    2023-02-01 $296,975 (10.9%) $336,833 (8.6%) 0.72 1,825
    2023-03-01 $298,950 (8.7%) $342,534 (7.9%) 0.71 1,820
    2023-04-01 $300,060 (7.2%) $350,971 (9.4%) 0.70 1,663
    2023-05-01 $310,000 (9.7%) $355,512 (8.0%) 0.70 1,745
    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
    El Paso's median listing price for 2023-08-01 was $300,950, a difference of $15,475 (5.4%) versus the prior year and $-3,850 versus the prior month.

    El Paso's median listing price comes in at 69% of the national average.

    El Paso's average listing price for 2023-08-01 was $352,679, a difference of $23,528 (7.2%) versus the prior year and $298 versus the prior month.

    For the 2023-08-01 period, El Paso had 2,189 MLS listings, a difference of 77 listings (4%) versus the prior month and 650 listings (42%) 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 1,798 sqft
    2018-02-01 100 days 1,799 sqft
    2018-03-01 86 days 1,802 sqft
    2018-04-01 79 days 1,822 sqft
    2018-05-01 80 days 1,822 sqft
    2018-06-01 80 days 1,840 sqft
    2018-07-01 78 days 1,845 sqft
    2018-08-01 71 days 1,858 sqft
    2018-09-01 71 days 1,856 sqft
    2018-10-01 66 days 1,854 sqft
    2018-11-01 70 days 1,854 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 66 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 64 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 51 days 1,963 sqft
    2021-12-01 65 days 1,957 sqft
    2022-01-01 56 days 1,944 sqft
    2022-02-01 33 days 1,935 sqft
    2022-03-01 36 days 1,904 sqft
    2022-04-01 37 days 1,937 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 1,936 sqft
    2023-02-01 68 days 1,939 sqft
    2023-03-01 60 days 1,930 sqft
    2023-04-01 54 days 1,941 sqft
    2023-05-01 50 days 1,949 sqft
    2023-06-01 53 days 1,941 sqft
    2023-07-01 57 days 1,950 sqft
    2023-08-01 63 days 1,951 sqft
    El Paso's median listing age (time on market) for 2023-08-01 was 63 days. This is 32% longer than the same period one year ago.

    El Paso's median square footage for active listings during the 2023-08-01 period was 1,951 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.