Hereford VA Loan Rates, Closing Costs & Stats

Hereford, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Hereford's 6 lenders originated 7 VA loans during 2023. The total origination value was $1,595,000, with an average VA loan value of $227,857.

    Hereford VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hereford averaged 6.89% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

    Hereford's average VA mortgage closing costs are $5,384.

    The average rate for the prior week (2024-04-05) was 6.44% and one month ago for the week of 2024-03-08, the average rate was 6.47%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.57%.

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

    Hereford 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 Hereford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 2 6.63% $8,126
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $15,431
    Barrington Bank & Trust Company, N.A. 1 6.25% $6,003
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $12,975
    CMG MORTGAGE, INC. 1 6.25% $10,623
    MORTGAGEONE, INC. 1 7.38% $412

    The top Hereford VA lender as defined by loan originations is Mortgage Research Center, LLC, with 2 VA loans originated. Their average total fees are $8,126, which is $7,305 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Hereford VA lenders (with over 10 loans originated) are .

    The lowest rate Hereford VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hereford (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 $138,700 (26.1%) $206,651 (26.3%) 0.00 34
    2018-02-01 $139,500 (27.5%) $196,519 (20.1%) 0.00 35
    2018-03-01 $143,500 (10.4%) $199,840 (5.0%) 0.00 33
    2018-04-01 $146,975 (1.4%) $198,956 (-1.2%) 0.00 28
    2018-05-01 $163,000 (10.5%) $192,755 (-8.2%) 0.00 29
    2018-06-01 $176,000 (19.4%) $194,838 (-9.9%) 0.00 29
    2018-07-01 $148,200 (5.9%) $190,692 (-8.5%) 0.00 30
    2018-08-01 $179,900 (29.1%) $213,160 (3.1%) 0.00 29
    2018-09-01 $180,000 (25.1%) $215,515 (3.8%) 0.00 24
    2018-10-01 $172,900 (21.2%) $204,381 (-0.1%) 0.00 26
    2018-11-01 $154,900 (4.5%) $204,841 (-6.6%) 0.00 27
    2018-12-01 $189,950 (37.7%) $206,415 (0.2%) 0.00 25
    2019-01-01 $195,000 (40.6%) $203,056 (-1.7%) 0.00 24
    2019-02-01 $197,000 (41.2%) $195,939 (-0.3%) 0.00 25
    2019-03-01 $209,286 (45.8%) $221,832 (11.0%) 0.00 23
    2019-04-01 $196,786 (33.9%) $221,921 (11.5%) 0.00 21
    2019-05-01 $170,700 (4.7%) $211,742 (9.9%) 0.00 23
    2019-06-01 $163,750 (-7.0%) $211,842 (8.7%) 0.00 24
    2019-07-01 $165,625 (11.8%) $198,403 (4.0%) 0.00 27
    2019-08-01 $164,000 (-8.8%) $193,700 (-9.1%) 0.00 29
    2019-09-01 $165,125 (-8.3%) $189,304 (-12.2%) 0.00 33
    2019-10-01 $164,750 (-4.7%) $186,373 (-8.8%) 0.00 35
    2019-11-01 $168,500 (8.8%) $192,826 (-5.9%) 0.00 30
    2019-12-01 $179,750 (-5.4%) $207,128 (0.4%) 0.00 29
    2020-01-01 $181,125 (-7.1%) $211,487 (4.2%) 0.00 30
    2020-02-01 $189,750 (-3.7%) $217,755 (11.1%) 0.00 29
    2020-03-01 $209,000 (-0.1%) $226,590 (2.1%) 0.00 25
    2020-04-01 $209,000 (6.2%) $227,872 (2.7%) 0.00 24
    2020-05-01 $203,000 (18.9%) $220,441 (4.1%) 0.00 24
    2020-06-01 $203,000 (24.0%) $214,566 (1.3%) 0.00 28
    2020-07-01 $189,225 (14.3%) $203,521 (2.6%) 0.00 31
    2020-08-01 $180,000 (9.8%) $185,367 (-4.3%) 0.00 28
    2020-09-01 $186,600 (13.0%) $183,928 (-2.8%) 0.00 27
    2020-10-01 $183,500 (11.4%) $180,068 (-3.4%) 0.00 28
    2020-11-01 $174,225 (3.4%) $179,077 (-7.1%) 0.00 30
    2020-12-01 $162,438 (-9.6%) $172,955 (-16.5%) 0.00 32
    2021-01-01 $177,475 (-2.0%) $178,096 (-15.8%) 0.00 29
    2021-02-01 $197,000 (3.8%) $193,318 (-11.2%) 0.00 30
    2021-03-01 $188,213 (-10.0%) $198,163 (-12.6%) 0.00 32
    2021-04-01 $170,000 (-18.7%) $183,813 (-19.3%) 0.00 26
    2021-05-01 $172,000 (-15.3%) $211,405 (-4.1%) 0.00 19
    2021-06-01 $175,000 (-13.8%) $218,212 (1.7%) 0.00 24
    2021-07-01 $180,975 (-4.4%) $268,311 (31.8%) 0.00 21
    2021-08-01 $204,200 (13.4%) $253,909 (37.0%) 0.00 23
    2021-09-01 $193,225 (3.6%) $267,412 (45.4%) 0.00 24
    2021-10-01 $209,950 (14.4%) $297,491 (65.2%) 0.00 26
    2021-11-01 $217,450 (24.8%) $316,497 (76.7%) 0.00 24
    2021-12-01 $224,725 (38.4%) $302,623 (75.0%) 0.00 28
    2022-01-01 $209,950 (18.3%) $283,812 (59.4%) 0.00 26
    2022-02-01 $215,213 (9.2%) $283,966 (46.9%) 0.00 27
    2022-03-01 $222,000 (18.0%) $263,432 (32.9%) 0.00 32
    2022-04-01 $219,950 (29.4%) $236,058 (28.4%) 0.00 36
    2022-05-01 $197,475 (14.8%) $225,838 (6.8%) 0.00 41
    2022-06-01 $210,738 (20.4%) $232,525 (6.6%) 0.00 37
    2022-07-01 $220,000 (21.6%) $250,671 (-6.6%) 0.00 44
    2022-08-01 $235,000 (15.1%) $266,702 (5.0%) 0.00 44
    2022-09-01 $238,713 (23.5%) $294,183 (10.0%) 0.00 46
    2022-10-01 $237,500 (13.1%) $306,001 (2.9%) 0.00 46
    2022-11-01 $241,250 (11.0%) $308,360 (-2.6%) 0.00 46
    2022-12-01 $257,000 (14.4%) $322,299 (6.5%) 0.00 45
    2023-01-01 $254,250 (21.1%) $332,092 (17.0%) 0.00 43
    2023-02-01 $263,188 (22.3%) $337,363 (18.8%) 0.00 45
    2023-03-01 $259,950 (17.1%) $326,850 (24.1%) 0.00 53
    2023-04-01 $259,950 (18.2%) $314,130 (33.1%) 0.00 58
    2023-05-01 $259,950 (31.6%) $315,223 (39.6%) 0.00 52
    2023-06-01 $259,950 (23.4%) $317,172 (36.4%) 0.00 49
    2023-07-01 $254,000 (15.5%) $297,066 (18.5%) 0.00 56
    2023-08-01 $239,988 (2.1%) $292,773 (9.8%) 0.00 56
    2023-09-01 $239,950 (0.5%) $293,260 (-0.3%) 0.00 56
    2023-10-01 $248,750 (4.7%) $303,736 (-0.7%) 0.00 55
    2023-11-01 $245,000 (1.6%) $300,816 (-2.5%) 0.00 57
    2023-12-01 $239,975 (-6.6%) $302,041 (-6.3%) 0.00 52
    2024-01-01 $229,963 (-9.6%) $269,306 (-18.9%) 0.00 54
    2024-02-01 $223,738 (-15.0%) $262,105 (-22.3%) 0.00 51
    2024-03-01 $217,475 (-16.3%) $266,958 (-18.3%) 0.00 44
    Hereford's median listing price for 2024-03-01 was $217,475, a difference of $-42,475 (-16.3%) versus the prior year and $-6,263 versus the prior month.

    Hereford's median listing price comes in at 0% of the national average.

    Hereford's average listing price for 2024-03-01 was $266,958, a difference of $-59,892 (-18.3%) versus the prior year and $4,853 versus the prior month.

    For the 2024-03-01 period, Hereford had 44 MLS listings, a difference of -7 listings (-14%) versus the prior month and -9 listings (-17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hereford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,189 sqft
    2018-02-01 0 days 2,076 sqft
    2018-03-01 0 days 2,163 sqft
    2018-04-01 0 days 2,295 sqft
    2018-05-01 0 days 2,379 sqft
    2018-06-01 0 days 2,386 sqft
    2018-07-01 0 days 2,315 sqft
    2018-08-01 0 days 2,543 sqft
    2018-09-01 0 days 2,564 sqft
    2018-10-01 0 days 2,468 sqft
    2018-11-01 0 days 2,321 sqft
    2018-12-01 0 days 2,304 sqft
    2019-01-01 0 days 2,261 sqft
    2019-02-01 0 days 2,213 sqft
    2019-03-01 0 days 2,251 sqft
    2019-04-01 0 days 2,150 sqft
    2019-05-01 0 days 2,051 sqft
    2019-06-01 0 days 2,008 sqft
    2019-07-01 0 days 2,123 sqft
    2019-08-01 0 days 2,130 sqft
    2019-09-01 0 days 2,105 sqft
    2019-10-01 0 days 2,075 sqft
    2019-11-01 0 days 2,182 sqft
    2019-12-01 0 days 2,281 sqft
    2020-01-01 0 days 2,340 sqft
    2020-02-01 0 days 2,431 sqft
    2020-03-01 0 days 2,302 sqft
    2020-04-01 0 days 2,380 sqft
    2020-05-01 0 days 2,193 sqft
    2020-06-01 0 days 2,193 sqft
    2020-07-01 0 days 2,041 sqft
    2020-08-01 0 days 1,846 sqft
    2020-09-01 0 days 1,892 sqft
    2020-10-01 0 days 2,031 sqft
    2020-11-01 0 days 1,797 sqft
    2020-12-01 0 days 1,758 sqft
    2021-01-01 0 days 1,754 sqft
    2021-02-01 0 days 1,826 sqft
    2021-03-01 0 days 1,787 sqft
    2021-04-01 0 days 1,566 sqft
    2021-05-01 0 days 1,488 sqft
    2021-06-01 0 days 1,646 sqft
    2021-07-01 0 days 1,831 sqft
    2021-08-01 0 days 1,819 sqft
    2021-09-01 0 days 1,900 sqft
    2021-10-01 0 days 1,766 sqft
    2021-11-01 0 days 1,920 sqft
    2021-12-01 0 days 1,798 sqft
    2022-01-01 0 days 1,656 sqft
    2022-02-01 0 days 1,718 sqft
    2022-03-01 0 days 1,789 sqft
    2022-04-01 0 days 1,634 sqft
    2022-05-01 0 days 1,600 sqft
    2022-06-01 0 days 1,642 sqft
    2022-07-01 0 days 1,657 sqft
    2022-08-01 0 days 1,736 sqft
    2022-09-01 0 days 1,780 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 1,912 sqft
    2022-12-01 0 days 1,930 sqft
    2023-01-01 0 days 1,919 sqft
    2023-02-01 0 days 1,844 sqft
    2023-03-01 0 days 1,824 sqft
    2023-04-01 0 days 1,812 sqft
    2023-05-01 0 days 1,806 sqft
    2023-06-01 0 days 1,828 sqft
    2023-07-01 0 days 1,795 sqft
    2023-08-01 0 days 1,786 sqft
    2023-09-01 0 days 1,770 sqft
    2023-10-01 0 days 1,768 sqft
    2023-11-01 0 days 1,797 sqft
    2023-12-01 0 days 1,787 sqft
    2024-01-01 0 days 1,759 sqft
    2024-02-01 0 days 1,740 sqft
    2024-03-01 0 days 1,752 sqft
    Hereford's median listing age (time on market) for 2024-03-01 was 0 days.

    Hereford's median square footage for active listings during the 2024-03-01 period was 1,752 sqft. One year prior, the average listing was 1,824 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.