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 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.