Midland VA Loan Rates, Closing Costs & Stats

MIDLAND, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.