Mineral Wells VA Loan Rates, Closing Costs & Stats

Mineral Wells, 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.

    Mineral Wells's 21 lenders originated 38 VA loans during 2023. The total origination value was $10,820,000, with an average VA loan value of $284,737.

    Mineral Wells VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mineral Wells averaged 6.49% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Mineral Wells's average VA mortgage closing costs are $6,424.

    The average rate for the prior week (2024-12-06) was 6.42% and one month ago for the week of 2024-11-08, the average rate was 6.52%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Mineral Wells 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 Mineral Wells level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 13 6.85% $6,076
    UNITED WHOLESALE MORTGAGE, LLC 3 6.21% $6,749
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.63% $6,919
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.75% $6,460
    CARDINAL FINANCIAL 1 6.75% $17,905
    Citizens Bank 1 5.25% $15,486
    CMG MORTGAGE, INC. 1 6.13% $7,199
    Encompass Lending Group, LP 1 6.50% $11,969
    EVERETT FINANCIAL, INC. 1 5.50% $2,686
    First Bank 1 6.75% $5,636
    First United Bank and Trust Company 1 6.75% $10,887
    GUILD MORTGAGE COMPANY 1 7.63% $16,081
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    NATIONS DIRECT MORTGAGE, LLC 1 6.25% $14,147
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.63% $18,802
    The Federal Savings Bank 1 6.63% $7,612
    AMCAP MORTGAGE, LTD. 1 7.25% $7,458
    USAA Federal Savings Bank 1 5.75% $9,786
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $13,313
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $7,912
    BROKER SOLUTIONS, INC. 1 7.63% $12,601

    The top Mineral Wells VA lender as defined by loan originations is Mortgage Research Center, LLC, with 13 VA loans originated. Their average total fees are $6,076, which is $673 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Mineral Wells VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,076), .

    The lowest rate Mineral Wells VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.85%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mineral Wells (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 $332,250 (19.5%) $477,213 (16.2%) 0.00 240
    2018-02-01 $328,500 (12.7%) $500,231 (17.2%) 0.00 260
    2018-03-01 $349,000 (16.4%) $511,882 (12.3%) 0.00 276
    2018-04-01 $387,950 (19.4%) $543,560 (13.0%) 0.00 274
    2018-05-01 $388,450 (27.9%) $543,690 (14.0%) 0.00 288
    2018-06-01 $387,000 (17.7%) $523,818 (7.0%) 0.00 286
    2018-07-01 $380,000 (8.9%) $513,901 (1.7%) 0.00 287
    2018-08-01 $374,950 (7.4%) $509,886 (-2.1%) 0.00 271
    2018-09-01 $367,000 (9.7%) $482,492 (-5.1%) 0.00 250
    2018-10-01 $370,950 (18.2%) $474,025 (-4.1%) 0.00 224
    2018-11-01 $365,000 (20.7%) $476,316 (-1.0%) 0.00 215
    2018-12-01 $345,000 (7.8%) $476,328 (2.6%) 0.00 189
    2019-01-01 $345,000 (3.8%) $493,588 (3.4%) 0.00 160
    2019-02-01 $345,000 (5.0%) $483,990 (-3.3%) 0.00 182
    2019-03-01 $362,200 (3.8%) $506,343 (-1.1%) 0.00 190
    2019-04-01 $379,000 (-2.3%) $512,024 (-5.8%) 0.00 207
    2019-05-01 $383,475 (-1.3%) $518,523 (-4.6%) 0.00 211
    2019-06-01 $365,000 (-5.7%) $525,968 (0.4%) 0.00 221
    2019-07-01 $364,675 (-4.0%) $572,621 (11.4%) 0.00 220
    2019-08-01 $359,759 (-4.1%) $573,701 (12.5%) 0.00 215
    2019-09-01 $366,898 (0.0%) $584,930 (21.2%) 0.00 206
    2019-10-01 $375,725 (1.3%) $605,293 (27.7%) 0.00 194
    2019-11-01 $374,450 (2.6%) $616,201 (29.4%) 0.00 183
    2019-12-01 $349,900 (1.4%) $627,602 (31.8%) 0.00 182
    2020-01-01 $357,225 (3.5%) $645,614 (30.8%) 0.00 171
    2020-02-01 $389,000 (12.8%) $640,003 (32.2%) 0.00 166
    2020-03-01 $389,875 (7.6%) $666,044 (31.5%) 0.00 202
    2020-04-01 $389,850 (2.9%) $648,566 (26.7%) 0.00 228
    2020-05-01 $380,000 (-0.9%) $665,165 (28.3%) 0.00 210
    2020-06-01 $375,000 (2.7%) $714,470 (35.8%) 0.00 171
    2020-07-01 $372,500 (2.2%) $650,820 (13.7%) 0.00 142
    2020-08-01 $360,000 (0.1%) $651,706 (13.6%) 0.00 128
    2020-09-01 $369,500 (0.7%) $695,568 (18.9%) 0.00 130
    2020-10-01 $372,999 (-0.7%) $735,120 (21.5%) 0.00 116
    2020-11-01 $374,000 (-0.1%) $749,765 (21.7%) 0.00 115
    2020-12-01 $361,000 (3.2%) $777,050 (23.8%) 0.00 101
    2021-01-01 $374,000 (4.7%) $827,509 (28.2%) 0.00 99
    2021-02-01 $380,750 (-2.1%) $867,199 (35.5%) 0.00 94
    2021-03-01 $387,000 (-0.7%) $810,011 (21.6%) 0.00 93
    2021-04-01 $425,500 (9.1%) $814,648 (25.6%) 0.00 79
    2021-05-01 $474,995 (25.0%) $843,187 (26.8%) 0.00 78
    2021-06-01 $439,250 (17.1%) $805,593 (12.8%) 0.00 78
    2021-07-01 $448,000 (20.3%) $811,759 (24.7%) 0.00 95
    2021-08-01 $415,000 (15.3%) $769,762 (18.1%) 0.00 105
    2021-09-01 $392,850 (6.3%) $774,720 (11.4%) 0.00 96
    2021-10-01 $387,000 (3.8%) $786,531 (7.0%) 0.00 88
    2021-11-01 $353,000 (-5.6%) $794,474 (6.0%) 0.00 82
    2021-12-01 $336,500 (-6.8%) $778,617 (0.2%) 0.00 75
    2022-01-01 $419,450 (12.2%) $771,864 (-6.7%) 0.00 69
    2022-02-01 $449,475 (18.1%) $770,873 (-11.1%) 0.00 65
    2022-03-01 $499,250 (29.0%) $794,548 (-1.9%) 0.00 67
    2022-04-01 $545,000 (28.1%) $983,845 (20.8%) 0.00 64
    2022-05-01 $486,000 (2.3%) $975,173 (15.7%) 0.00 83
    2022-06-01 $472,500 (7.6%) $940,458 (16.7%) 0.00 103
    2022-07-01 $419,000 (-6.5%) $917,080 (13.0%) 0.00 123
    2022-08-01 $436,223 (5.1%) $915,946 (19.0%) 0.00 145
    2022-09-01 $434,725 (10.7%) $796,174 (2.8%) 0.00 162
    2022-10-01 $399,999 (3.4%) $786,610 (0.0%) 0.00 180
    2022-11-01 $399,000 (13.0%) $753,841 (-5.1%) 0.00 168
    2022-12-01 $375,000 (11.4%) $667,351 (-14.3%) 0.00 164
    2023-01-01 $380,000 (-9.4%) $669,148 (-13.3%) 0.00 154
    2023-02-01 $386,725 (-14.0%) $672,610 (-12.8%) 0.00 166
    2023-03-01 $413,250 (-17.2%) $727,702 (-8.4%) 0.00 183
    2023-04-01 $399,250 (-26.7%) $694,313 (-29.4%) 0.00 203
    2023-05-01 $436,250 (-10.2%) $775,691 (-20.5%) 0.00 205
    2023-06-01 $439,500 (-7.0%) $791,778 (-15.8%) 0.00 204
    2023-07-01 $449,900 (7.4%) $813,355 (-11.3%) 0.00 198
    2023-08-01 $452,950 (3.8%) $750,624 (-18.1%) 0.00 221
    2023-09-01 $465,000 (7.0%) $745,919 (-6.3%) 0.00 229
    2023-10-01 $455,750 (13.9%) $745,546 (-5.2%) 0.00 222
    2023-11-01 $477,450 (19.7%) $722,358 (-4.2%) 0.00 224
    2023-12-01 $445,000 (18.7%) $704,447 (5.6%) 0.00 229
    2024-01-01 $424,975 (11.8%) $686,582 (2.6%) 0.00 219
    2024-02-01 $439,750 (13.7%) $711,794 (5.8%) 0.00 213
    2024-03-01 $485,000 (17.4%) $840,558 (15.5%) 0.00 233
    2024-04-01 $520,000 (30.2%) $835,304 (20.3%) 0.00 236
    2024-05-01 $522,000 (19.7%) $883,366 (13.9%) 0.00 237
    2024-06-01 $525,000 (19.5%) $892,949 (12.8%) 0.00 233
    2024-07-01 $512,000 (13.8%) $806,959 (-0.8%) 0.00 239
    2024-08-01 $499,900 (10.4%) $798,429 (6.4%) 0.00 232
    2024-09-01 $499,900 (7.5%) $798,907 (7.1%) 0.00 236
    2024-10-01 $485,000 (6.4%) $799,305 (7.2%) 0.00 245
    2024-11-01 $444,000 (-7.0%) $820,569 (13.6%) 0.00 242
    Mineral Wells's median listing price for 2024-11-01 was $444,000, a difference of $-33,450 (-7.0%) versus the prior year and $-41,000 versus the prior month.

    Mineral Wells's median listing price comes in at 0% of the national average.

    Mineral Wells's average listing price for 2024-11-01 was $820,569, a difference of $98,211 (13.6%) versus the prior year and $21,264 versus the prior month.

    For the 2024-11-01 period, Mineral Wells had 242 MLS listings, a difference of -3 listings (-1%) versus the prior month and 18 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mineral Wells (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,106 sqft
    2018-02-01 0 days 2,106 sqft
    2018-03-01 0 days 2,117 sqft
    2018-04-01 0 days 2,170 sqft
    2018-05-01 0 days 2,154 sqft
    2018-06-01 0 days 2,143 sqft
    2018-07-01 0 days 2,163 sqft
    2018-08-01 0 days 2,124 sqft
    2018-09-01 0 days 2,117 sqft
    2018-10-01 0 days 2,089 sqft
    2018-11-01 0 days 2,079 sqft
    2018-12-01 0 days 2,067 sqft
    2019-01-01 0 days 2,072 sqft
    2019-02-01 0 days 2,058 sqft
    2019-03-01 0 days 2,062 sqft
    2019-04-01 0 days 2,051 sqft
    2019-05-01 0 days 2,078 sqft
    2019-06-01 0 days 2,079 sqft
    2019-07-01 0 days 2,056 sqft
    2019-08-01 0 days 2,087 sqft
    2019-09-01 0 days 2,097 sqft
    2019-10-01 0 days 2,112 sqft
    2019-11-01 0 days 2,118 sqft
    2019-12-01 0 days 2,130 sqft
    2020-01-01 0 days 2,128 sqft
    2020-02-01 0 days 2,212 sqft
    2020-03-01 0 days 2,190 sqft
    2020-04-01 0 days 2,178 sqft
    2020-05-01 0 days 2,190 sqft
    2020-06-01 0 days 2,227 sqft
    2020-07-01 0 days 2,212 sqft
    2020-08-01 0 days 2,175 sqft
    2020-09-01 0 days 2,192 sqft
    2020-10-01 0 days 2,166 sqft
    2020-11-01 0 days 2,191 sqft
    2020-12-01 0 days 2,147 sqft
    2021-01-01 0 days 2,220 sqft
    2021-02-01 0 days 2,298 sqft
    2021-03-01 0 days 2,155 sqft
    2021-04-01 0 days 2,163 sqft
    2021-05-01 0 days 2,150 sqft
    2021-06-01 0 days 2,003 sqft
    2021-07-01 0 days 2,000 sqft
    2021-08-01 0 days 1,998 sqft
    2021-09-01 0 days 1,974 sqft
    2021-10-01 0 days 1,978 sqft
    2021-11-01 0 days 1,985 sqft
    2021-12-01 0 days 2,013 sqft
    2022-01-01 0 days 2,100 sqft
    2022-02-01 0 days 2,180 sqft
    2022-03-01 0 days 2,118 sqft
    2022-04-01 0 days 2,041 sqft
    2022-05-01 0 days 2,000 sqft
    2022-06-01 0 days 1,943 sqft
    2022-07-01 0 days 1,958 sqft
    2022-08-01 0 days 1,971 sqft
    2022-09-01 0 days 1,976 sqft
    2022-10-01 0 days 1,958 sqft
    2022-11-01 0 days 1,917 sqft
    2022-12-01 0 days 1,870 sqft
    2023-01-01 0 days 1,930 sqft
    2023-02-01 0 days 1,928 sqft
    2023-03-01 0 days 1,951 sqft
    2023-04-01 0 days 1,991 sqft
    2023-05-01 0 days 2,058 sqft
    2023-06-01 0 days 2,052 sqft
    2023-07-01 0 days 2,066 sqft
    2023-08-01 0 days 2,008 sqft
    2023-09-01 0 days 2,000 sqft
    2023-10-01 0 days 1,980 sqft
    2023-11-01 0 days 1,983 sqft
    2023-12-01 0 days 1,939 sqft
    2024-01-01 0 days 1,990 sqft
    2024-02-01 0 days 2,052 sqft
    2024-03-01 0 days 2,099 sqft
    2024-04-01 0 days 2,111 sqft
    2024-05-01 0 days 2,117 sqft
    2024-06-01 0 days 2,118 sqft
    2024-07-01 0 days 2,076 sqft
    2024-08-01 0 days 2,068 sqft
    2024-09-01 0 days 2,104 sqft
    2024-10-01 0 days 2,092 sqft
    2024-11-01 0 days 2,076 sqft
    Mineral Wells's median listing age (time on market) for 2024-11-01 was 0 days.

    Mineral Wells's median square footage for active listings during the 2024-11-01 period was 2,076 sqft. One year prior, the average listing was 1,983 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.