Lubbock VA Loan Rates, Closing Costs & Stats

LUBBOCK, 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.

    Lubbock's 61 lenders originated 380 VA loans during 2023. The total origination value was $106,900,000, with an average VA loan value of $281,316.

    Lubbock VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lubbock averaged 6.58% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Lubbock's average VA mortgage closing costs are $5,867.

    The average rate for the prior week (2025-02-07) was 6.32% and one month ago for the week of 2025-01-10, the average rate was 6.76%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.77%.

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

    Lubbock 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 Lubbock level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 70 6.67% $6,129
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 51 6.49% $7,403
    TEXAS TECH 23 6.21% $6,388
    NAVY FEDERAL CREDIT UNION 20 5.79% $5,195
    T2 FINANCIAL LLC 15 6.53% $5,357
    CARDINAL FINANCIAL 14 6.52% $7,402
    FREEDOM MORTGAGE CORPORATION 12 6.43% $9,857
    QUICKEN LOANS, LLC 12 6.29% $9,868
    UNITED WHOLESALE MORTGAGE, LLC 9 6.03% $11,975
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.50% $6,347
    Alliance Credit Union 8 5.92% $9,218
    DHI MORTGAGE COMPANY, LTD. 8 5.39% $4,346
    USAA Federal Savings Bank 7 6.23% $10,438
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.59% $4,520
    Southwest Bank 7 6.82% $8,228
    FLAT BRANCH MORTGAGE, INC. 7 6.30% $5,466
    GUILD MORTGAGE COMPANY 7 6.29% $7,124
    City Bank 6 6.93% $6,602
    THRIVE MORTGAGE, LLC 5 6.80% $11,363
    PENTAGON FEDERAL CREDIT UNION 5 5.40% $8,495
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.62% $13,120
    Gateway First Bank 4 6.22% $9,590
    First United Bank 4 6.88% $7,109
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 7.00% $1,897
    Equity Prime Mortgage LLC 3 6.38% $9,297
    CMG MORTGAGE, INC. 2 5.19% $22,056
    EVERETT FINANCIAL, INC. 2 6.88% $10,907
    Barrington Bank & Trust Company, N.A. 2 6.75% $7,672
    GUARANTEED RATE, INC. 2 6.94% $1,696
    Mr. Cooper ( Nationstar Mortgage ) 2 6.63% $12,410
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.88% $11,142
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.81% $7,370
    PENNYMAC LOAN SERVICES, LLC 2 5.50% $10,086
    HOMESPIRE MORTGAGE CORPORATION 1 6.63% $2,354
    HomePromise Corporation 1 8.13% $1,045
    Network Funding, L.P. 1 7.00% $4,317
    NEW DAY FINANCIAL, LLC 1 7.75% $4,396
    NEWREZ LLC 1 6.75% $7,555
    Paramount Residential Mortgage Group, Inc. 1 6.75% $2,769
    PILGRIM MORTGAGE LLC 1 6.75% $10,951
    Plains Commerce Bank 1 5.75% $4,678
    First National Bank and Trust Company 1 5.13% $9,862
    RUOFF MORTGAGE COMPANY, INC. 1 6.63% $7,708
    SFMC, LP 1 6.38% $10,633
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.00% $8,748
    Strong Home Mortgage, LLC 1 5.25% $2,981
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $9,211
    Centennial Bank 1 5.63% $14,878
    American Bank of Commerce 1 6.25% $4,522
    ALLIED MORTGAGE GROUP, INC. 1 7.63% $5,943
    VILLAGE CAPITAL MORTGAGE 1 6.25% $1,213
    Waterstone Mortgage Corporation 1 6.88% $8,531
    JPMorgan Chase Bank 1 5.99% $18,701
    Wells Fargo Bank 1 5.63% $0
    LEGEND LENDING CORPORATION 1 6.63% $20,136
    LOANDEPOT.COM, LLC 1 6.25% $15,488
    MID AMERICA MORTGAGE, INC. 1 6.63% $22,203
    Mid-Continent Funding, Inc. 1 6.38% $10,140
    MLB RESIDENTIAL LENDING, LLC 1 5.25% $10,371
    MORTGAGE EQUITY PARTNERS LLC 1 6.99% $11,240
    MORTGAGEONE, INC. 1 6.25% $2,360

    The top Lubbock VA lender as defined by loan originations is Mortgage Research Center, LLC, with 70 VA loans originated. Their average total fees are $6,129, which is $1,274 lower than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Lubbock VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,195), T2 FINANCIAL LLC ($5,357), Mortgage Research Center, LLC ($6,129), TEXAS TECH ($6,388) and CARDINAL FINANCIAL ($7,402).

    The lowest rate Lubbock VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.79%), TEXAS TECH (6.21%), QUICKEN LOANS, LLC (6.29%), FREEDOM MORTGAGE CORPORATION (6.43%) and ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.49%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lubbock (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 $217,738 (5.7%) $272,662 (2.0%) 0.83 1,121
    2018-02-01 $227,725 (5.4%) $286,330 (2.9%) 0.85 1,091
    2018-03-01 $229,995 (-1.9%) $290,910 (0.2%) 0.82 1,080
    2018-04-01 $241,273 (-7.2%) $300,057 (-1.7%) 0.83 1,080
    2018-05-01 $239,500 (-7.9%) $296,375 (-3.8%) 0.82 1,121
    2018-06-01 $235,000 (-8.0%) $295,419 (-2.6%) 0.80 1,214
    2018-07-01 $232,450 (-5.1%) $287,781 (-2.6%) 0.78 1,282
    2018-08-01 $229,975 (-2.1%) $288,313 (0.2%) 0.79 1,293
    2018-09-01 $224,900 (-1.0%) $281,684 (-1.3%) 0.76 1,298
    2018-10-01 $218,450 (-3.8%) $275,752 (-3.2%) 0.75 1,318
    2018-11-01 $214,000 (-5.7%) $271,422 (-4.1%) 0.73 1,284
    2018-12-01 $209,950 (-6.7%) $268,410 (-4.5%) 0.74 1,256
    2019-01-01 $211,250 (-3.0%) $271,907 (-0.3%) 0.75 1,186
    2019-02-01 $216,238 (-5.0%) $275,958 (-3.6%) 0.75 1,148
    2019-03-01 $226,000 (-1.7%) $277,456 (-4.6%) 0.76 1,094
    2019-04-01 $235,450 (-2.4%) $281,875 (-6.1%) 0.76 1,043
    2019-05-01 $239,800 (0.1%) $290,136 (-2.1%) 0.77 1,029
    2019-06-01 $241,500 (2.8%) $293,664 (-0.6%) 0.78 1,035
    2019-07-01 $232,125 (-0.1%) $286,427 (-0.5%) 0.76 1,034
    2019-08-01 $222,941 (-3.1%) $275,918 (-4.3%) 0.74 1,016
    2019-09-01 $212,427 (-5.6%) $265,447 (-5.8%) 0.71 1,007
    2019-10-01 $208,288 (-4.7%) $259,554 (-5.9%) 0.70 997
    2019-11-01 $218,250 (2.0%) $263,528 (-2.9%) 0.74 982
    2019-12-01 $225,500 (7.4%) $270,247 (0.7%) 0.78 917
    2020-01-01 $226,225 (7.1%) $329,445 (21.2%) 0.79 886
    2020-02-01 $230,000 (6.4%) $279,056 (1.1%) 0.77 924
    2020-03-01 $234,900 (3.9%) $285,180 (2.8%) 0.75 919
    2020-04-01 $235,650 (0.1%) $291,164 (3.3%) 0.76 937
    2020-05-01 $242,700 (1.2%) $296,014 (2.0%) 0.76 837
    2020-06-01 $243,600 (0.9%) $301,878 (2.8%) 0.74 771
    2020-07-01 $241,275 (3.9%) $306,954 (7.2%) 0.72 753
    2020-08-01 $250,000 (12.1%) $313,230 (13.5%) 0.75 704
    2020-09-01 $250,875 (18.1%) $314,464 (18.5%) 0.75 696
    2020-10-01 $237,900 (14.2%) $296,420 (14.2%) 0.71 702
    2020-11-01 $222,475 (1.9%) $284,579 (8.0%) 0.68 667
    2020-12-01 $228,200 (1.2%) $287,124 (6.3%) 0.71 611
    2021-01-01 $249,700 (10.4%) $287,816 (-12.6%) 0.77 546
    2021-02-01 $254,885 (10.8%) $302,223 (8.3%) 0.79 448
    2021-03-01 $256,500 (9.2%) $314,927 (10.4%) 0.82 388
    2021-04-01 $291,475 (23.7%) $337,071 (15.8%) 0.84 386
    2021-05-01 $319,945 (31.8%) $358,517 (21.1%) 0.86 392
    2021-06-01 $290,250 (19.2%) $349,759 (15.9%) 0.81 475
    2021-07-01 $279,900 (16.0%) $349,806 (14.0%) 0.76 552
    2021-08-01 $287,500 (15.0%) $343,958 (9.8%) 0.79 580
    2021-09-01 $271,000 (8.0%) $329,680 (4.8%) 0.74 597
    2021-10-01 $272,000 (14.3%) $329,900 (11.3%) 0.75 583
    2021-11-01 $278,750 (25.3%) $340,153 (19.5%) 0.78 543
    2021-12-01 $285,000 (24.9%) $336,950 (17.4%) 0.79 475
    2022-01-01 $295,000 (18.1%) $339,171 (17.8%) 0.81 413
    2022-02-01 $347,000 (36.1%) $380,594 (25.9%) 0.93 343
    2022-03-01 $335,750 (30.9%) $382,629 (21.5%) 0.88 347
    2022-04-01 $345,000 (18.4%) $393,424 (16.7%) 0.83 366
    2022-05-01 $337,823 (5.6%) $383,190 (6.9%) 0.80 498
    2022-06-01 $328,750 (13.3%) $375,917 (7.5%) 0.76 596
    2022-07-01 $316,375 (13.0%) $364,360 (4.2%) 0.72 756
    2022-08-01 $312,475 (8.7%) $350,256 (1.8%) 0.74 849
    2022-09-01 $301,950 (11.4%) $348,299 (5.7%) 0.73 911
    2022-10-01 $308,780 (13.5%) $351,630 (6.6%) 0.75 955
    2022-11-01 $298,225 (7.0%) $346,370 (1.8%) 0.73 991
    2022-12-01 $292,995 (2.8%) $347,531 (3.1%) 0.73 998
    2023-01-01 $290,125 (-1.7%) $340,873 (0.5%) 0.74 974
    2023-02-01 $298,975 (-13.8%) $344,292 (-9.5%) 0.72 964
    2023-03-01 $298,650 (-11.1%) $347,609 (-9.2%) 0.71 959
    2023-04-01 $305,000 (-11.6%) $367,002 (-6.7%) 0.73 944
    2023-05-01 $298,375 (-11.7%) $362,246 (-5.5%) 0.69 1,059
    2023-06-01 $302,575 (-8.0%) $358,784 (-4.6%) 0.69 1,115
    2023-07-01 $299,900 (-5.2%) $362,173 (-0.6%) 0.69 1,177
    2023-08-01 $289,975 (-7.2%) $358,212 (2.3%) 0.68 1,236
    2023-09-01 $283,275 (-6.2%) $346,808 (-0.4%) 0.67 1,348
    2023-10-01 $270,973 (-12.2%) $337,808 (-3.9%) 0.64 1,370
    2023-11-01 $259,800 (-12.9%) $324,936 (-6.2%) 0.62 1,409
    2023-12-01 $256,000 (-12.6%) $324,863 (-6.5%) 0.63 1,328
    2024-01-01 $257,568 (-11.2%) $323,349 (-5.1%) 0.63 1,287
    2024-02-01 $259,995 (-13.0%) $323,270 (-6.1%) 0.63 1,298
    2024-03-01 $265,000 (-11.3%) $330,393 (-5.0%) 0.63 1,334
    2024-04-01 $267,125 (-12.4%) $431,897 (17.7%) 0.62 1,407
    2024-05-01 $265,450 (-11.0%) $337,292 (-6.9%) 0.61 1,618
    2024-06-01 $264,500 (-12.6%) $338,153 (-5.8%) 0.60 1,862
    2024-07-01 $258,948 (-13.7%) $335,862 (-7.3%) 0.59 2,071
    2024-08-01 $254,990 (-12.1%) $329,428 (-8.0%) 0.59 2,196
    2024-09-01 $246,698 (-12.9%) $327,983 (-5.4%) 0.59 1,689
    2024-10-01 $245,000 (-9.6%) $329,225 (-2.5%) 0.58 1,651
    2024-11-01 $248,000 (-4.5%) $332,027 (2.2%) 0.60 1,583
    2024-12-01 $249,000 (-2.7%) $333,075 (2.5%) 0.62 1,410
    2025-01-01 $250,000 (-2.9%) $335,062 (3.6%) 0.00 1,358
    Lubbock's median listing price for 2025-01-01 was $250,000, a difference of $-7,568 (-2.9%) versus the prior year and $1,000 versus the prior month.

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

    Lubbock's average listing price for 2025-01-01 was $335,062, a difference of $11,713 (3.6%) versus the prior year and $1,987 versus the prior month.

    For the 2025-01-01 period, Lubbock had 1,358 MLS listings, a difference of -52 listings (-4%) versus the prior month and 71 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lubbock (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 56 days 2,238 sqft
    2018-02-01 40 days 2,302 sqft
    2018-03-01 43 days 2,311 sqft
    2018-04-01 43 days 2,366 sqft
    2018-05-01 38 days 2,347 sqft
    2018-06-01 40 days 2,309 sqft
    2018-07-01 42 days 2,263 sqft
    2018-08-01 44 days 2,272 sqft
    2018-09-01 46 days 2,220 sqft
    2018-10-01 46 days 2,187 sqft
    2018-11-01 49 days 2,182 sqft
    2018-12-01 58 days 2,149 sqft
    2019-01-01 64 days 2,147 sqft
    2019-02-01 49 days 2,153 sqft
    2019-03-01 45 days 2,172 sqft
    2019-04-01 45 days 2,197 sqft
    2019-05-01 44 days 2,212 sqft
    2019-06-01 40 days 2,262 sqft
    2019-07-01 46 days 2,238 sqft
    2019-08-01 47 days 2,198 sqft
    2019-09-01 47 days 2,137 sqft
    2019-10-01 49 days 2,101 sqft
    2019-11-01 47 days 2,112 sqft
    2019-12-01 57 days 2,095 sqft
    2020-01-01 60 days 2,086 sqft
    2020-02-01 43 days 2,095 sqft
    2020-03-01 42 days 2,104 sqft
    2020-04-01 47 days 2,126 sqft
    2020-05-01 51 days 2,154 sqft
    2020-06-01 42 days 2,136 sqft
    2020-07-01 36 days 2,145 sqft
    2020-08-01 44 days 2,198 sqft
    2020-09-01 44 days 2,204 sqft
    2020-10-01 43 days 2,111 sqft
    2020-11-01 46 days 2,014 sqft
    2020-12-01 47 days 1,991 sqft
    2021-01-01 47 days 2,002 sqft
    2021-02-01 39 days 2,052 sqft
    2021-03-01 37 days 2,086 sqft
    2021-04-01 25 days 2,145 sqft
    2021-05-01 24 days 2,218 sqft
    2021-06-01 24 days 2,202 sqft
    2021-07-01 29 days 2,175 sqft
    2021-08-01 32 days 2,133 sqft
    2021-09-01 36 days 2,085 sqft
    2021-10-01 42 days 2,102 sqft
    2021-11-01 44 days 2,078 sqft
    2021-12-01 49 days 2,076 sqft
    2022-01-01 44 days 2,105 sqft
    2022-02-01 31 days 2,203 sqft
    2022-03-01 25 days 2,179 sqft
    2022-04-01 22 days 2,133 sqft
    2022-05-01 21 days 2,114 sqft
    2022-06-01 25 days 2,093 sqft
    2022-07-01 28 days 2,100 sqft
    2022-08-01 31 days 2,092 sqft
    2022-09-01 36 days 2,082 sqft
    2022-10-01 38 days 2,092 sqft
    2022-11-01 44 days 2,059 sqft
    2022-12-01 50 days 2,031 sqft
    2023-01-01 52 days 2,018 sqft
    2023-02-01 41 days 2,031 sqft
    2023-03-01 44 days 2,047 sqft
    2023-04-01 40 days 2,101 sqft
    2023-05-01 33 days 2,067 sqft
    2023-06-01 37 days 2,090 sqft
    2023-07-01 37 days 2,069 sqft
    2023-08-01 44 days 2,045 sqft
    2023-09-01 45 days 2,000 sqft
    2023-10-01 40 days 1,919 sqft
    2023-11-01 47 days 1,893 sqft
    2023-12-01 59 days 1,878 sqft
    2024-01-01 63 days 1,862 sqft
    2024-02-01 48 days 1,859 sqft
    2024-03-01 40 days 1,915 sqft
    2024-04-01 39 days 1,916 sqft
    2024-05-01 43 days 1,895 sqft
    2024-06-01 61 days 1,907 sqft
    2024-07-01 80 days 1,902 sqft
    2024-08-01 93 days 1,885 sqft
    2024-09-01 48 days 1,871 sqft
    2024-10-01 52 days 1,874 sqft
    2024-11-01 59 days 1,886 sqft
    2024-12-01 65 days 1,907 sqft
    2025-01-01 0 days 1,902 sqft
    Lubbock's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lubbock's median square footage for active listings during the 2025-01-01 period was 1,902 sqft. One year prior, the average listing was 1,862 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.