Oklahoma City VA Loan Rates, Closing Costs & Stats
OKLAHOMA CITY, 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.
Oklahoma City's 159 lenders originated 2,967 VA
loans during 2023. The total origination value was $887,935,000, with an average VA loan value of
$299,270.
Oklahoma City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Oklahoma City
averaged
6.08%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Oklahoma City's average VA mortgage closing costs are $5,849.
The average rate for the prior week (2024-10-04) was
6.05% and
one month ago for the week of 2024-09-06, the
average rate was 5.74%.
The average rate one year ago was 7.61%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.08%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Oklahoma City 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 Oklahoma City level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
459
|
6.75%
|
$6,000
|
NAVY FEDERAL CREDIT UNION
|
191
|
5.82%
|
$5,479
|
CORNERSTONE HOME LENDING, INC.
|
179
|
6.44%
|
$6,187
|
UNITED WHOLESALE MORTGAGE, LLC
|
126
|
6.28%
|
$8,673
|
First United Bank and Trust Company
|
122
|
6.61%
|
$8,736
|
QUICKEN LOANS, LLC
|
116
|
6.27%
|
$11,501
|
ASSOCIATED MORTGAGE CORPORATION
|
89
|
6.21%
|
$9,044
|
Stride Bank
|
82
|
6.46%
|
$9,004
|
USAA Federal Savings Bank
|
80
|
6.25%
|
$7,609
|
GUARANTEED RATE, INC.
|
60
|
6.35%
|
$5,437
|
PENNYMAC LOAN SERVICES, LLC
|
54
|
5.98%
|
$8,680
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
50
|
7.46%
|
$4,703
|
CWM PARTNERS, L.P.
|
44
|
5.83%
|
$3,977
|
FREEDOM MORTGAGE CORPORATION
|
42
|
6.61%
|
$13,795
|
NEW DAY FINANCIAL, LLC
|
41
|
7.50%
|
$11,568
|
Gateway First Bank
|
39
|
6.79%
|
$6,699
|
DHI MORTGAGE COMPANY, LTD.
|
37
|
5.36%
|
$6,946
|
LOANDEPOT.COM, LLC
|
35
|
6.21%
|
$9,867
|
First National Bank and Trust Company
|
34
|
6.68%
|
$7,950
|
The Federal Savings Bank
|
30
|
6.55%
|
$17,399
|
CMG MORTGAGE, INC.
|
29
|
6.42%
|
$10,304
|
F & M Bank
|
26
|
6.29%
|
$6,505
|
VILLAGE CAPITAL MORTGAGE
|
25
|
6.44%
|
$11,688
|
NEWREZ LLC
|
25
|
6.42%
|
$8,553
|
The Central Trust Bank
|
21
|
6.51%
|
$6,953
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
21
|
6.29%
|
$7,302
|
FIRST AMERICAN MORTGAGE, INC.
|
19
|
6.41%
|
$5,827
|
Great Plains National Bank
|
19
|
5.86%
|
$6,246
|
FINANCIAL CONCEPTS MORTGAGE, LLC
|
19
|
6.63%
|
$7,176
|
PENTAGON FEDERAL CREDIT UNION
|
19
|
5.70%
|
$8,753
|
Mr. Cooper ( Nationstar Mortgage )
|
18
|
6.03%
|
$12,511
|
UNION HOME MORTGAGE CORP.
|
18
|
6.85%
|
$8,078
|
CROSSCOUNTRY MORTGAGE, LLC
|
17
|
6.45%
|
$7,270
|
SWBC MORTGAGE CORPORATION
|
17
|
7.09%
|
$10,682
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
16
|
6.79%
|
$6,995
|
PLAZA HOME MORTGAGE, INC.
|
16
|
6.91%
|
$10,821
|
NBKC BANK
|
14
|
5.74%
|
$5,831
|
BOKF
|
14
|
6.46%
|
$9,115
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
13
|
5.99%
|
$8,506
|
MLD MORTGAGE INC.
|
13
|
6.83%
|
$7,417
|
Flagstar Bank, FSB
|
13
|
6.68%
|
$9,476
|
Barrington Bank & Trust Company, N.A.
|
13
|
6.37%
|
$10,400
|
AMCAP MORTGAGE, LTD.
|
12
|
6.60%
|
$12,947
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
12
|
6.73%
|
$6,685
|
AMERISAVE MORTGAGE CORPORATION
|
12
|
6.04%
|
$15,060
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
12
|
6.60%
|
$9,208
|
FLAT BRANCH MORTGAGE, INC.
|
11
|
6.55%
|
$8,449
|
Arvest Bank
|
11
|
6.10%
|
$7,993
|
GUILD MORTGAGE COMPANY
|
10
|
6.55%
|
$11,279
|
CARDINAL FINANCIAL
|
10
|
6.26%
|
$12,932
|
BancFirst
|
9
|
6.92%
|
$7,884
|
Tinker Federal Credit Union
|
8
|
6.84%
|
$6,341
|
Paramount Residential Mortgage Group, Inc.
|
8
|
6.92%
|
$9,632
|
JPMorgan Chase Bank
|
8
|
6.64%
|
$7,223
|
BROKER SOLUTIONS, INC.
|
8
|
6.59%
|
$10,977
|
Farmers Bank & Trust
|
8
|
5.94%
|
$5,565
|
U.S. Bank
|
8
|
6.27%
|
$10,784
|
Wells Fargo Bank
|
7
|
6.25%
|
$5,256
|
LOANPAL, LLC
|
7
|
6.05%
|
$12,626
|
NTFN, INC.
|
7
|
6.29%
|
$5,736
|
Plains Commerce Bank
|
6
|
6.13%
|
$10,386
|
First Liberty Bank
|
6
|
6.29%
|
$8,332
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
6
|
6.69%
|
$5,572
|
American Mortgage Bank, LLC
|
6
|
6.40%
|
$11,522
|
American Mortgage & Equity Consultants, Inc.
|
6
|
7.19%
|
$6,096
|
AmeriHome Mortgage Company, LLC
|
6
|
6.29%
|
$10,145
|
TOWNE MORTGAGE COMPANY
|
6
|
6.54%
|
$9,755
|
Magnolia Bank
|
5
|
6.28%
|
$18,494
|
Equity Prime Mortgage LLC
|
5
|
7.28%
|
$8,437
|
LAKEVIEW LOAN SERVICING, LLC
|
5
|
6.13%
|
$10,444
|
SUN WEST MORTGAGE COMPANY, INC.
|
5
|
6.56%
|
$10,535
|
Chickasaw Community Bank
|
5
|
6.70%
|
$9,084
|
Bank of England
|
4
|
6.34%
|
$7,297
|
Armed Forces Bank
|
4
|
6.47%
|
$9,290
|
PLANET HOME LENDING, LLC
|
4
|
6.37%
|
$9,897
|
PREMIA MORTGAGE, LLC
|
4
|
6.31%
|
$6,925
|
SUCCESS MORTGAGE PARTNERS, INC.
|
4
|
7.00%
|
$8,136
|
BNC National Bank
|
4
|
5.16%
|
$10,273
|
HOMESIDE FINANCIAL, LLC
|
4
|
7.25%
|
$16,249
|
EVERETT FINANCIAL, INC.
|
4
|
7.34%
|
$6,624
|
Prosperity Bank
|
4
|
6.53%
|
$7,803
|
GUARANTEED RATE AFFINITY, LLC
|
3
|
6.23%
|
$7,434
|
POLARIS HOME FUNDING CORP.
|
3
|
7.33%
|
$15,768
|
MidFirst Bank
|
3
|
5.92%
|
$4,139
|
Simmons Bank
|
3
|
5.92%
|
$3,846
|
Mortgage Investment Services Corporation
|
3
|
6.42%
|
$23,651
|
EAGLE HOME MORTGAGE, LLC
|
3
|
5.04%
|
$7,224
|
United Fidelity Funding Corp.
|
3
|
6.54%
|
$11,514
|
NexBank
|
3
|
6.17%
|
$6,173
|
AMERICAN FINANCIAL NETWORK, INC.
|
3
|
6.79%
|
$5,256
|
MOVEMENT MORTGAGE, LLC
|
2
|
6.75%
|
$5,613
|
Servion, Inc.
|
2
|
6.00%
|
$8,828
|
OPEN MORTGAGE, LLC
|
2
|
7.19%
|
$4,166
|
INTERLINC MORTGAGE SERVICES, LLC
|
2
|
6.69%
|
$13,536
|
SENTE MORTGAGE, INC.
|
2
|
6.94%
|
$5,366
|
S1L, Inc.
|
2
|
5.63%
|
$14,015
|
AMERICAN FINANCING CORPORATION
|
2
|
6.31%
|
$4,037
|
Goldwater Bank, N.A.
|
2
|
6.50%
|
$5,804
|
DRAPER AND KRAMER MORTGAGE CORP.
|
2
|
6.19%
|
$11,531
|
Nations Lending Corporation
|
2
|
5.88%
|
$8,892
|
CONTOUR MORTGAGE CORPORATION
|
2
|
6.44%
|
$15,930
|
First Federal Bank
|
2
|
7.25%
|
$4,105
|
First Savings Bank
|
2
|
5.75%
|
$11,648
|
Network Funding, L.P.
|
2
|
6.00%
|
$11,478
|
RESIDENTIAL BANCORP
|
2
|
6.75%
|
$10,106
|
RCB Bank
|
2
|
6.75%
|
$9,382
|
Citizens Bank
|
2
|
6.25%
|
$4,577
|
Century Mortgage Company DBA Century Lending Company
|
2
|
6.44%
|
$2,608
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
2
|
6.44%
|
$19,153
|
Northpointe Bank
|
2
|
6.00%
|
$15,227
|
FBC MORTGAGE, LLC
|
2
|
5.62%
|
$10,116
|
OKLAHOMA'S
|
2
|
6.81%
|
$4,957
|
AXIA FINANCIAL, LLC
|
2
|
6.19%
|
$10,040
|
Bank of America
|
2
|
6.63%
|
$3,987
|
MORTGAGEONE, INC.
|
2
|
8.13%
|
$4,150
|
Sierra Pacific Mortgage Company, Inc.
|
2
|
6.56%
|
$11,987
|
FORT SILL
|
1
|
6.88%
|
$2,453
|
GARDNER FINANCIAL SERVICES, LTD.
|
1
|
7.13%
|
$8,373
|
GENEVA FINANCIAL, LLC
|
1
|
7.13%
|
$19,135
|
GoPrime Mortgage, Inc.
|
1
|
6.88%
|
$16,103
|
GSF Mortgage Corporation
|
1
|
5.13%
|
$8,865
|
FIRST COLONY MORTGAGE CORPORATION
|
1
|
6.75%
|
$7,299
|
First Bank
|
1
|
5.75%
|
$12,989
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
7.00%
|
$13,987
|
HOMESTEAD FUNDING CORP.
|
1
|
5.50%
|
$4,280
|
HOMETRUST MORTGAGE COMPANY
|
1
|
6.25%
|
$5,454
|
Ixonia Bank
|
1
|
6.25%
|
$3,332
|
Fidelity Bank
|
1
|
7.25%
|
$6,687
|
LEADERONE FINANCIAL CORPORATION
|
1
|
7.49%
|
$5,954
|
LEGEND LENDING CORPORATION
|
1
|
6.50%
|
$9,648
|
LENOX FINANCIAL MORTGAGE CORPORATION
|
1
|
5.88%
|
$4,215
|
Lincoln FSB of Nebraska
|
1
|
6.25%
|
$3,249
|
Waterstone Mortgage Corporation
|
1
|
7.25%
|
$4,218
|
MEMBER FIRST MORTGAGE, LLC
|
1
|
7.13%
|
$10,816
|
MICHIGAN MUTUAL, INC.
|
1
|
7.13%
|
$89
|
EVANSVILLE TEACHERS
|
1
|
5.75%
|
$6,947
|
M&T Bank
|
1
|
6.13%
|
$6,302
|
COMMUNITYAMERICA
|
1
|
7.75%
|
$10,626
|
COMMUNICATION
|
1
|
7.13%
|
$3,795
|
NEW FED MORTGAGE, CORP.
|
1
|
7.63%
|
$4,666
|
North American Savings Bank, F.S.B.
|
1
|
4.75%
|
$977
|
CASTLE & COOKE MORTGAGE, LLC
|
1
|
6.50%
|
$18,515
|
PHH Mortgage Corporation
|
1
|
6.99%
|
$10,159
|
Carrington Mortgage Services, LLC
|
1
|
6.63%
|
$2,927
|
CALIBER HOME LOANS, INC.
|
1
|
5.75%
|
$39,408
|
ROYAL UNITED MORTGAGE LLC
|
1
|
7.13%
|
$16,454
|
SFMC, LP
|
1
|
5.25%
|
$11,103
|
BAY EQUITY LLC
|
1
|
7.63%
|
$2,725
|
SUMMIT FUNDING, INC.
|
1
|
6.50%
|
$23,682
|
Sunflower Bank
|
1
|
5.63%
|
$6,429
|
THE MORTGAGE LINK, INC.
|
1
|
6.88%
|
$8,086
|
Town Square Mortgage & Investments, Inc.
|
1
|
7.63%
|
$2,659
|
Unify Home Lending Inc.
|
1
|
7.13%
|
$4,378
|
UNION SQUARE
|
1
|
7.50%
|
$3,958
|
US Employees O.C. Federal Credit Union
|
1
|
5.75%
|
$11,973
|
US MORTGAGE CORPORATION
|
1
|
7.63%
|
$8,028
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
6.13%
|
$7,186
|
V.I.P. MORTGAGE, INC.
|
1
|
5.75%
|
$3,306
|
First State Bank of St. Charles, Missouri
|
1
|
6.38%
|
$4,608
|
The top Oklahoma City VA lender as defined by loan originations is Mortgage Research Center, LLC, with
459 VA loans originated. Their average total fees are
$6,000, which is $521
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Oklahoma City VA lenders (with over 10 loans originated) are
CWM PARTNERS, L.P. ($3,977), MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,703), GUARANTEED RATE, INC. ($5,437), NAVY FEDERAL CREDIT UNION ($5,479) and FIRST AMERICAN MORTGAGE, INC. ($5,827).
The lowest rate Oklahoma City VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.36%), PENTAGON FEDERAL CREDIT UNION (5.70%), NBKC BANK (5.74%), NAVY FEDERAL CREDIT UNION (5.82%) and CWM PARTNERS, L.P. (5.83%).
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.