Laredo VA Loan Rates, Closing Costs & Stats

LAREDO, 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.

    Laredo's 33 lenders originated 119 VA loans during 2023. The total origination value was $34,635,000, with an average VA loan value of $291,050.

    Laredo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Laredo averaged 6.38% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Laredo's average VA mortgage closing costs are $5,171.

    The average rate for the prior week (2024-11-01) was 6.23% and one month ago for the week of 2024-10-04, the average rate was 5.76%.

    The average rate one year ago was 7.22%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Laredo 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 Laredo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 21 5.92% $4,952
    Mortgage Research Center, LLC 17 6.54% $7,249
    Flagstar Bank, FSB 11 6.07% $3,234
    FREEDOM MORTGAGE CORPORATION 9 5.88% $4,546
    MOVEMENT MORTGAGE, LLC 6 6.08% $10,093
    NAVY FEDERAL CREDIT UNION 5 5.80% $5,103
    Paramount Residential Mortgage Group, Inc. 4 6.06% $4,057
    THE MORTGAGE LINK, INC. 4 6.88% $7,562
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.50% $14,131
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.67% $7,159
    CMG MORTGAGE, INC. 3 6.33% $7,927
    AMCAP MORTGAGE, LTD. 2 7.11% $9,803
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $8,668
    QUICKEN LOANS, LLC 2 6.50% $17,699
    UNION HOME MORTGAGE CORP. 2 6.50% $9,086
    LOANDEPOT.COM, LLC 1 6.25% $10,744
    Equity Prime Mortgage LLC 1 8.25% $1,443
    VILLAGE CAPITAL MORTGAGE 1 6.38% $10,323
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $17,989
    PNC Bank 1 5.75% $2,607
    ENVOY MORTGAGE, LTD 1 7.63% $5,066
    Waterstone Mortgage Corporation 1 6.13% $22,650
    S1L, Inc. 1 6.25% $4,165
    SFMC, LP 1 5.75% $5,690
    SUN WEST MORTGAGE COMPANY, INC. 1 6.47% $6,883
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $150
    Wells Fargo Bank 1 4.50% $0
    CHERRY CREEK MORTGAGE, LLC 1 5.25% $875
    USAA Federal Savings Bank 1 6.25% $9,021
    VAN DYK MORTGAGE CORPORATION 1 5.75% $9,766
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    MORTGAGEONE, INC. 1 6.38% $10,549
    NATIONS DIRECT MORTGAGE, LLC 1 6.75% $6,788

    The top Laredo VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 21 VA loans originated. Their average total fees are $4,952, which is $2,297 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Laredo VA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($3,234), UNITED WHOLESALE MORTGAGE, LLC ($4,952), Mortgage Research Center, LLC ($7,249), .

    The lowest rate Laredo VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.92%), Flagstar Bank, FSB (6.07%), Mortgage Research Center, LLC (6.54%), .

    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.