Lubbock VA Loan Rates, Closing Costs & Stats

LUBBOCK, 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 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 70 lenders originated 472 VA loans during 2024. The total origination value was $137,680,000, with an average VA loan value of $291,695.

Lubbock VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lubbock averaged 0.22% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

Lubbock's average VA mortgage closing costs are $5,989.

The average rate for the prior week (2025-06-27) was 6.45% and one month ago for the week of 2025-05-30, the average rate was 6.58%.

The average rate one year ago was 6.99%.

For refis of the same type during the week of 2025-07-04, the average rate was 0.22%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 73 6.38% $5,851
UNITED WHOLESALE MORTGAGE, LLC 34 5.88% $6,715
ARK-LA-TEX FINANCIAL SERVICES, LLC. 32 6.20% $5,232
T2 FINANCIAL LLC 31 6.33% $5,259
FREEDOM MORTGAGE CORPORATION 22 5.95% $5,045
TEXAS TECH 21 6.29% $8,297
NAVY FEDERAL CREDIT UNION 19 5.85% $3,808
Alliance Credit Union 19 6.05% $8,176
DHI MORTGAGE COMPANY, LTD. 17 5.12% $5,502
USAA Federal Savings Bank 16 6.26% $6,788
GUILD MORTGAGE COMPANY 16 5.80% $10,496
PENNYMAC LOAN SERVICES, LLC 11 5.50% $8,685
MORTGAGE SOLUTIONS OF COLORADO, LLC 10 6.88% $6,417
QUICKEN LOANS, LLC 9 6.16% $7,640
VILLAGE CAPITAL MORTGAGE 8 5.50% $6,623
CARDINAL FINANCIAL 7 6.40% $10,849
City Bank 6 6.19% $7,035
GUARANTEED RATE, INC. 5 6.13% $5,220
First United Bank 5 5.58% $13,927
FLAT BRANCH MORTGAGE, INC. 5 6.28% $7,980
CROSSCOUNTRY MORTGAGE, LLC 4 6.88% $3,832
Equity Prime Mortgage LLC 4 6.81% $12,074
PLANET HOME LENDING, LLC 4 5.78% $3,416
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.47% $9,030
HOMESIDE FINANCIAL, LLC 3 6.67% $6,665
Centennial Bank 3 6.54% $10,196
Gateway First Bank 3 6.04% $7,262
LOANDEPOT.COM, LLC 3 6.21% $16,305
BROKER SOLUTIONS, INC. 3 6.71% $12,159
Flagstar Bank, FSB 3 7.25% $3,739
Barrington Bank & Trust Company, N.A. 3 6.25% $6,887
Amarillo National Bank 3 6.46% $4,999
NEWREZ LLC 3 5.33% $9,121
SUN WEST MORTGAGE COMPANY, INC. 2 5.54% $2,994
AmeriHome Mortgage Company, LLC 2 6.13% $3,625
SeaTrust Mortgage Company 2 6.13% $13,913
JPMorgan Chase Bank 2 6.38% $584
PREMIA MORTGAGE, LLC 2 5.97% $3,175
ZILLOW HOME LOANS, LLC 1 6.75% $4,377
ALLIED MORTGAGE GROUP, INC. 1 6.25% $5,327
American National Bank & Trust 1 6.63% $4,079
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $7,758
AXIA FINANCIAL, LLC 1 6.75% $6,721
Bell Bank 1 6.00% $4,750
BOKF 1 7.13% $15,326
Century Mortgage Company DBA Century Lending Company 1 5.63% $2,371
CLEARPATH LENDING 1 5.75% $9,577
Commerce Home Mortgage, Inc. 1 6.13% $4,784
Credence Funding Corporation 1 4.75% $5,559
DAS Acquisition Company, LLC 1 6.13% $20,511
DIRECTIONS EQUITY, LLC 1 5.75% $10,052
EVANSVILLE TEACHERS 1 6.25% $5,472
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $4,939
First Bank 1 6.50% $5,078
First Federal Bank 1 5.75% $5,448
Flanagan State Bank 1 6.50% $4,210
GoPrime Mortgage, Inc. 1 5.63% $10,513
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.25% $3,256
Lakeview Community Capital, LLC 1 4.99% $2,574
Mid-Continent Funding, Inc. 1 5.75% $11,514
MORTGAGE FINANCIAL SERVICES, LLC 1 6.63% $10,018
MOVEMENT MORTGAGE, LLC 1 5.63% $30,525
NBKC BANK 1 5.63% $18,881
PHH Mortgage Corporation 1 5.13% $6,206
PREMIER LENDING, INC. 1 6.75% $5,941
Prosperity Bank 1 7.25% $9,784
SOUTHWEST FUNDING, LP 1 6.25% $2,448
SWBC MORTGAGE CORPORATION 1 6.63% $5,649
UNION HOME MORTGAGE CORP. 1 5.63% $5,701
Wells Fargo Bank 1 5.88% $9,310

The top Lubbock VA lender as defined by loan originations is Mortgage Research Center, LLC, with 73 VA loans originated. Their average total fees are $5,851, which is $864 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Lubbock VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,808), FREEDOM MORTGAGE CORPORATION ($5,045), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,232), T2 FINANCIAL LLC ($5,259) and DHI MORTGAGE COMPANY, LTD. ($5,502).

The lowest rate Lubbock VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.12%), PENNYMAC LOAN SERVICES, LLC (5.50%), GUILD MORTGAGE COMPANY (5.80%), NAVY FEDERAL CREDIT UNION (5.85%) and UNITED WHOLESALE MORTGAGE, LLC (5.88%).

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.