Mcalester VA Loan Rates, Closing Costs & Stats

McAlester, OK

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.

Mcalester's 35 lenders originated 98 VA loans during 2024. The total origination value was $25,510,000, with an average VA loan value of $260,306.

Mcalester VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Mcalester averaged 0.75% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

Mcalester's average VA mortgage closing costs are $4,762.

The average rate for the prior week (2025-06-27) was 6.68% and one month ago for the week of 2025-05-30, the average rate was 6.91%.

The average rate one year ago was 6.92%.

For refis of the same type during the week of 2025-07-04, the average rate was 0%.

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

Mcalester 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 Mcalester level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 22 6.65% $3,674
QUICKEN LOANS, LLC 9 6.12% $7,849
PENNYMAC LOAN SERVICES, LLC 5 5.90% $7,772
NEW DAY FINANCIAL, LLC 5 7.47% $6,529
Mortgage Investment Services Corporation 5 6.70% $3,208
VILLAGE CAPITAL MORTGAGE 4 5.88% $10,367
USAA Federal Savings Bank 4 6.31% $4,628
GUILD MORTGAGE COMPANY 3 6.38% $7,031
Arvest Bank 3 6.33% $6,059
NEWREZ LLC 3 6.25% $4,296
UNITED WHOLESALE MORTGAGE, LLC 3 5.46% $10,567
LAKEVIEW LOAN SERVICING, LLC 2 5.87% $10,136
Flagstar Bank, FSB 2 6.50% $6,735
FREEDOM MORTGAGE CORPORATION 2 6.81% $2,642
First United Bank and Trust Company 2 6.50% $6,086
American Bank of Oklahoma 1 6.63% $7,883
Ixonia Bank 1 5.75% $10,904
MICHIGAN MUTUAL, INC. 1 7.25% $165
CWM PARTNERS, L.P. 1 6.13% $725
CMG MORTGAGE, INC. 1 6.13% $14,818
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $19,413
NAVY FEDERAL CREDIT UNION 1 5.88% $842
CASTLE & COOKE MORTGAGE, LLC 1 6.75% $4,075
AmeriHome Mortgage Company, LLC 1 6.13% $150
BOKF 1 6.63% $4,097
PLAZA HOME MORTGAGE, INC. 1 7.13% $2,576
BancFirst 1 6.50% $4,449
Stride Bank 1 6.00% $1,137
THE MORTGAGE LINK, INC. 1 7.13% $8,354
American Mortgage Bank, LLC 1 7.25% $0
Firstar Bank 1 5.99% $5,409
First Federal Bank 1 6.13% $4,762
FLAT BRANCH MORTGAGE, INC. 1 7.63% $12,848
Gateway First Bank 1 6.75% $6,246
GUARANTEED RATE, INC. 1 5.75% $23,258

The top Mcalester VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $3,674, which is $4,175 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Mcalester VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,674), .

The lowest rate Mcalester VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.65%), .

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.