Midland VA Loan Rates, Closing Costs & Stats

MIDLAND, 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.

Midland's 54 lenders originated 208 VA loans during 2024. The total origination value was $85,950,000, with an average VA loan value of $413,221.

Midland VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Midland averaged 0.21% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Midland's average VA mortgage closing costs are $7,716.

The average rate for the prior week (2025-06-13) was 6.75% and one month ago for the week of 2025-05-16, the average rate was 7.01%.

The average rate one year ago was 6.91%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.09%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Midland level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 35 6.53% $6,878
PRIMELENDING, A PLAINSCAPITAL COMPANY 18 6.28% $12,816
UNITED WHOLESALE MORTGAGE, LLC 16 5.82% $8,011
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.65% $9,055
QUICKEN LOANS, LLC 11 6.09% $11,126
DHI MORTGAGE COMPANY, LTD. 10 4.99% $7,230
VILLAGE CAPITAL MORTGAGE 7 5.62% $5,594
USAA Federal Savings Bank 6 6.40% $10,168
LRS FINANCIAL NETWORK, INC. 6 6.23% $10,132
NAVY FEDERAL CREDIT UNION 6 5.90% $6,621
FREEDOM MORTGAGE CORPORATION 6 6.15% $5,648
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 6.92% $14,271
NEWREZ LLC 4 6.00% $2,842
SUN WEST MORTGAGE COMPANY, INC. 3 6.04% $4,563
CARDINAL FINANCIAL 3 6.66% $19,180
DIRECTIONS EQUITY, LLC 3 6.58% $8,582
EVERETT FINANCIAL, INC. 3 6.63% $10,127
FLAT BRANCH MORTGAGE, INC. 3 5.75% $15,590
GUARANTEED RATE, INC. 3 5.63% $9,063
HOMESIDE FINANCIAL, LLC 3 6.38% $14,518
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.88% $2,750
PREMIA MORTGAGE, LLC 3 6.00% $4,424
Mid-Continent Funding, Inc. 2 6.00% $10,179
PENNYMAC LOAN SERVICES, LLC 2 5.38% $8,686
T2 FINANCIAL LLC 2 6.31% $6,114
PLANET HOME LENDING, LLC 2 5.75% $2,332
LOANDEPOT.COM, LLC 1 6.63% $30,730
Flagstar Bank, FSB 1 5.00% $22,581
MORTGAGE FINANCIAL SERVICES, LLC 1 6.63% $9,605
First Federal Bank, A FSB 1 6.00% $12,095
City Bank 1 6.25% $6,045
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $9,861
NATIONS RELIABLE LENDING, LLC 1 5.50% $41,926
First Federal Bank 1 5.50% $5,156
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $8,082
PHH Mortgage Corporation 1 5.13% $4,219
Plains Commerce Bank 1 6.25% $26,021
PLAZA HOME MORTGAGE, INC. 1 6.75% $11,092
BROKER SOLUTIONS, INC. 1 5.75% $12,125
Equity Prime Mortgage LLC 1 7.50% $9,387
Prosperity Home Mortgage, LLC 1 6.25% $17,513
CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $3,817
SFMC, LP 1 6.25% $10,706
SIRVA MORTGAGE, INC. 1 6.38% $13,045
American National Bank & Trust 1 6.63% $6,311
TOWN AND COUNTRY Credit Union 1 5.75% $8,870
GoPrime Mortgage, Inc. 1 6.13% $16,922
UNION HOME MORTGAGE CORP. 1 6.63% $5,442
GUILD MORTGAGE COMPANY 1 7.13% $10,772
HomePromise Corporation 1 7.50% $1,772
Gateway First Bank 1 5.98% $17,063
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $10,272
JPMorgan Chase Bank 1 5.00% $19,366
LAKEVIEW LOAN SERVICING, LLC 1 6.25% $3,668

The top Midland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 35 VA loans originated. Their average total fees are $6,878, which is $5,939 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

The lowest fee Midland VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,878), DHI MORTGAGE COMPANY, LTD. ($7,230), UNITED WHOLESALE MORTGAGE, LLC ($8,011), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($9,055) and QUICKEN LOANS, LLC ($11,126).

The lowest rate Midland VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.99%), UNITED WHOLESALE MORTGAGE, LLC (5.82%), QUICKEN LOANS, LLC (6.09%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.28%) and Mortgage Research Center, LLC (6.53%).

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.