Midland VA Loans

MIDLAND, 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 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.

    Midland's 79 lenders originated 424 VA loans during 2021. The total origination value was $135,680,000, with an average VA loan value of $320,000.

    Midland VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Midland averaged 5.78% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.81% and one month ago for the week of 2022-04-08, the average rate was 5.24%.

    The average rate one year ago was 3.15%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.23%.

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

    Midland VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Midland level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 48 2.86% $7,698
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 33 3.12% $6,967
    FREEDOM MORTGAGE CORPORATION 32 2.42% $4,818
    PRIMELENDING, A PLAINSCAPITAL COMPANY 30 3.15% $9,841
    QUICKEN LOANS, LLC 21 2.41% $3,904
    USAA Federal Savings Bank 17 2.96% $4,411
    DHI MORTGAGE COMPANY, LTD. 15 2.85% $8,377
    PENNYMAC LOAN SERVICES, LLC 15 2.55% $8,228
    CLEARPATH LENDING 11 2.25% $6,071
    Mr. Cooper ( Nationstar Mortgage ) 11 2.72% $3,696
    LRS FINANCIAL NETWORK, INC. 10 2.43% $9,349
    PREMIA MORTGAGE, LLC 7 2.50% $5,330
    Gateway First Bank 7 3.01% $7,380
    Wells Fargo Bank 7 2.59% $8,220
    NATIONS DIRECT MORTGAGE, LLC 6 3.04% $9,374
    LAKEVIEW LOAN SERVICING, LLC 5 2.53% $3,393
    First Bank & Trust 4 2.94% $12,353
    UNITED WHOLESALE MORTGAGE, LLC 4 2.50% $2,884
    NAVY FEDERAL CREDIT UNION 4 2.34% $8,362
    NEW DAY FINANCIAL, LLC 4 2.34% $5,148
    VILLAGE CAPITAL & INVESTMENT LLC 4 2.38% $2,605
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 2.62% $6,880
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.04% $7,689
    CERTAINTY HOME LOANS, LLC 3 3.21% $7,030
    NP, Inc. 3 2.33% $6,071
    CROSSCOUNTRY MORTGAGE, LLC 3 3.12% $5,068
    NATIONS RELIABLE LENDING, LLC 3 4.17% $12,781
    MID AMERICA MORTGAGE, INC. 2 3.06% $4,114
    AMCAP MORTGAGE, LTD. 2 3.13% $5,859
    AmeriHome Mortgage Company, LLC 2 2.69% $3,638
    Barrington Bank & Trust Company, N.A. 2 2.88% $21,212
    CALIBER HOME LOANS, INC. 2 2.75% $2,092
    Carrington Mortgage Services, LLC 2 4.13% $13,480
    Colonial Savings, F.A. 2 3.38% $4,586
    Commerce Home Mortgage, Inc. 2 2.56% $4,573
    GUILD MORTGAGE COMPANY 2 3.38% $9,734
    KS StateBank 2 2.25% $2,480
    Lakeview Community Capital, LLC 2 2.63% $2,951
    LOANDEPOT.COM, LLC 2 2.25% $6,282
    ACCELERATE MORTGAGE, LLC 2 2.25% $4,567
    NBKC BANK 2 2.25% $5,348
    SFMC, LP 2 3.06% $11,238
    SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $4,043
    LOANPAL, LLC 1 2.63% $5,127
    Low VA Rates, LLC 1 2.25% $6,010
    Flagstar Bank, FSB 1 2.75% $12,828
    Magnolia Bank 1 2.25% $10,753
    Meridian Bank Corporation 1 2.38% $6,052
    Amerifirst Financial, Inc. 1 2.88% $10,834
    First Guaranty Mortgage Corporation 1 2.25% $6,401
    MOVEMENT MORTGAGE, LLC 1 2.75% $3,094
    FINANCE OF AMERICA MORTGAGE LLC 1 2.88% $6,871
    FBC MORTGAGE, LLC 1 2.88% $6,094
    EVERETT FINANCIAL, INC. 1 3.63% $10,543
    DAS Acquisition Company, LLC 1 3.25% $18,295
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.25% $3,553
    Neighborhood Loans, Inc. 1 2.88% $8,596
    CMG MORTGAGE, INC. 1 2.75% $11,927
    Northpointe Bank 1 2.25% $1,890
    Citizens Bank 1 2.75% $5,658
    CHURCHILL MORTGAGE CORPORATION 1 2.25% $4,236
    PILGRIM MORTGAGE LLC 1 4.25% $3,952
    PLANET HOME LENDING, LLC 1 2.63% $961
    BROKER SOLUTIONS, INC. 1 3.00% $5,344
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.25% $14,167
    BNC National Bank 1 2.25% $3,877
    Bank of England 1 3.50% $15,705
    Republic State Mortgage Co. 1 2.75% $785
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.25% $9,307
    AMERICAN FINANCING CORPORATION 1 2.63% $6,304
    Simmons Bank 1 2.63% $3,197
    Southwest Bank 1 2.75% $12,067
    HOMESIDE FINANCIAL, LLC 1 2.25% $1,907
    InterContinental Capital Group, Inc 1 2.25% $4,548
    JPMorgan Chase Bank 1 3.25% $11,080
    SOUTHWEST FUNDING, LP 1 2.75% $4,907
    AMERICAN FINANCIAL NETWORK, INC. 1 2.88% $12,827
    GUARANTEED RATE, INC. 1 3.00% $4,528
    The Federal Savings Bank 1 2.38% $6,878

    The top Midland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 48 VA loans originated. Their average total fees are $7,698, which is $731 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Midland VA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,696), QUICKEN LOANS, LLC ($3,904), USAA Federal Savings Bank ($4,411), FREEDOM MORTGAGE CORPORATION ($4,818) and CLEARPATH LENDING ($6,071).

    The lowest rate Midland VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.25%), QUICKEN LOANS, LLC (2.41%), FREEDOM MORTGAGE CORPORATION (2.42%), LRS FINANCIAL NETWORK, INC. (2.43%) and PENNYMAC LOAN SERVICES, LLC (2.55%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Midland (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 $323,300 (30.9%) $401,818 (24.5%) 1.19 283
    2018-02-01 $345,500 (36.9%) $468,308 (38.7%) 1.25 263
    2018-03-01 $399,000 (46.5%) $526,079 (46.2%) 1.38 232
    2018-04-01 $356,450 (25.1%) $507,560 (32.5%) 1.20 244
    2018-05-01 $369,500 (29.7%) $532,649 (44.4%) 1.23 265
    2018-06-01 $349,900 (25.0%) $500,944 (38.8%) 1.17 309
    2018-07-01 $357,450 (24.6%) $501,112 (37.0%) 1.19 380
    2018-08-01 $350,000 (20.3%) $478,619 (31.4%) 1.17 413
    2018-09-01 $350,000 (18.6%) $491,287 (35.3%) 1.17 408
    2018-10-01 $357,500 (19.3%) $488,972 (29.6%) 1.20 410
    2018-11-01 $362,450 (16.9%) $495,361 (27.8%) 1.22 430
    2018-12-01 $350,790 (9.1%) $485,779 (21.7%) 1.20 384
    2019-01-01 $352,500 (9.0%) $467,974 (16.5%) 1.22 363
    2019-02-01 $350,000 (1.3%) $474,053 (1.2%) 1.17 353
    2019-03-01 $359,243 (-10.0%) $494,077 (-6.1%) 1.17 352
    2019-04-01 $376,950 (5.8%) $503,963 (-0.7%) 1.19 359
    2019-05-01 $404,300 (9.4%) $506,762 (-4.9%) 1.25 416
    2019-06-01 $389,900 (11.4%) $470,118 (-6.2%) 1.20 483
    2019-07-01 $389,950 (9.1%) $472,441 (-5.7%) 1.21 523
    2019-08-01 $391,871 (12.0%) $464,322 (-3.0%) 1.23 566
    2019-09-01 $386,871 (10.5%) $452,500 (-7.9%) 1.23 611
    2019-10-01 $374,000 (4.6%) $430,735 (-11.9%) 1.19 688
    2019-11-01 $365,000 (0.7%) $421,595 (-14.9%) 1.18 670
    2019-12-01 $362,500 (3.3%) $419,984 (-13.5%) 1.21 607
    2020-01-01 $367,250 (4.2%) $424,481 (-9.3%) 1.22 571
    2020-02-01 $380,000 (8.6%) $443,570 (-6.4%) 1.23 553
    2020-03-01 $382,450 (6.5%) $446,711 (-9.6%) 1.20 628
    2020-04-01 $365,750 (-3.0%) $427,359 (-15.2%) 1.14 728
    2020-05-01 $359,000 (-11.2%) $426,984 (-15.7%) 1.09 841
    2020-06-01 $349,900 (-10.3%) $425,409 (-9.5%) 1.02 839
    2020-07-01 $342,450 (-12.2%) $407,110 (-13.8%) 0.98 876
    2020-08-01 $327,000 (-16.6%) $399,682 (-13.9%) 0.93 878
    2020-09-01 $330,000 (-14.7%) $405,721 (-10.3%) 0.94 836
    2020-10-01 $325,000 (-13.1%) $397,636 (-7.7%) 0.93 785
    2020-11-01 $323,500 (-11.4%) $392,228 (-7.0%) 0.93 818
    2020-12-01 $325,000 (-10.3%) $393,991 (-6.2%) 0.95 803
    2021-01-01 $319,500 (-13.0%) $391,686 (-7.7%) 0.94 767
    2021-02-01 $319,950 (-15.8%) $404,634 (-8.8%) 0.92 787
    2021-03-01 $320,000 (-16.3%) $416,792 (-6.7%) 0.90 745
    2021-04-01 $322,500 (-11.8%) $428,658 (0.3%) 0.87 675
    2021-05-01 $330,000 (-8.1%) $426,908 (0.0%) 0.87 640
    2021-06-01 $329,200 (-5.9%) $423,598 (-0.4%) 0.86 652
    2021-07-01 $330,000 (-3.6%) $418,091 (2.7%) 0.86 687
    2021-08-01 $330,000 (0.9%) $410,672 (2.8%) 0.87 707
    2021-09-01 $325,000 (-1.5%) $405,763 (0.0%) 0.86 693
    2021-10-01 $325,000 (0.0%) $400,055 (0.6%) 0.86 702
    2021-11-01 $325,000 (0.5%) $386,232 (-1.5%) 0.86 679
    2021-12-01 $324,850 (-0.1%) $381,589 (-3.2%) 0.87 625
    2022-01-01 $325,000 (1.7%) $382,564 (-2.3%) 0.87 549
    2022-02-01 $322,475 (0.8%) $378,947 (-6.4%) 0.82 463
    2022-03-01 $330,000 (3.1%) $391,499 (-6.1%) 0.81 439
    2022-04-01 $339,900 (5.4%) $411,608 (-4.0%) 0.80 495
    Midland's median listing price for 2022-04-01 was $339,900, a difference of $17,400 (5.4%) versus the prior year and $9,900 versus the prior month.

    Midland's median listing price comes in at 80% of the national average.

    Midland's average listing price for 2022-04-01 was $411,608, a difference of $-17,050 (-4.0%) versus the prior year and $20,109 versus the prior month.

    For the 2022-04-01 period, Midland had 495 MLS listings, a difference of 56 listings (13%) versus the prior month and -180 listings (-27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Midland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 52 days 2,395 sqft
    2018-02-01 37 days 2,451 sqft
    2018-03-01 33 days 2,671 sqft
    2018-04-01 28 days 2,504 sqft
    2018-05-01 27 days 2,550 sqft
    2018-06-01 26 days 2,465 sqft
    2018-07-01 28 days 2,463 sqft
    2018-08-01 32 days 2,417 sqft
    2018-09-01 39 days 2,432 sqft
    2018-10-01 39 days 2,402 sqft
    2018-11-01 44 days 2,458 sqft
    2018-12-01 51 days 2,405 sqft
    2019-01-01 48 days 2,343 sqft
    2019-02-01 39 days 2,343 sqft
    2019-03-01 40 days 2,391 sqft
    2019-04-01 35 days 2,414 sqft
    2019-05-01 32 days 2,488 sqft
    2019-06-01 35 days 2,470 sqft
    2019-07-01 37 days 2,455 sqft
    2019-08-01 36 days 2,460 sqft
    2019-09-01 44 days 2,435 sqft
    2019-10-01 43 days 2,363 sqft
    2019-11-01 46 days 2,335 sqft
    2019-12-01 59 days 2,335 sqft
    2020-01-01 62 days 2,378 sqft
    2020-02-01 38 days 2,418 sqft
    2020-03-01 40 days 2,405 sqft
    2020-04-01 45 days 2,330 sqft
    2020-05-01 51 days 2,324 sqft
    2020-06-01 50 days 2,329 sqft
    2020-07-01 50 days 2,287 sqft
    2020-08-01 51 days 2,240 sqft
    2020-09-01 59 days 2,260 sqft
    2020-10-01 59 days 2,219 sqft
    2020-11-01 58 days 2,209 sqft
    2020-12-01 58 days 2,200 sqft
    2021-01-01 63 days 2,168 sqft
    2021-02-01 49 days 2,177 sqft
    2021-03-01 55 days 2,169 sqft
    2021-04-01 53 days 2,188 sqft
    2021-05-01 50 days 2,182 sqft
    2021-06-01 44 days 2,178 sqft
    2021-07-01 42 days 2,155 sqft
    2021-08-01 44 days 2,152 sqft
    2021-09-01 51 days 2,123 sqft
    2021-10-01 49 days 2,087 sqft
    2021-11-01 49 days 2,049 sqft
    2021-12-01 59 days 2,051 sqft
    2022-01-01 65 days 2,052 sqft
    2022-02-01 54 days 2,040 sqft
    2022-03-01 41 days 2,049 sqft
    2022-04-01 31 days 2,099 sqft
    Midland's median listing age (time on market) for 2022-04-01 was 31 days. This is -41% shorter than the same period one year ago.

    Midland's median square footage for active listings during the 2022-04-01 period was 2,099 sqft. One year prior, the average listing was 2,188 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.