Plainview VA Loan Rates, Closing Costs & Stats

Plainview, 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.

    Plainview's 12 lenders originated 19 VA loans during 2023. The total origination value was $4,035,000, with an average VA loan value of $212,368.

    Plainview VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Plainview averaged 7.02% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

    Plainview's average VA mortgage closing costs are $4,791.

    The average rate for the prior week (2024-04-05) was 6.77% and one month ago for the week of 2024-03-08, the average rate was 6.6%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.77%.

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

    Plainview 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 Plainview level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 6 6.73% $7,138
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.00% $4,369
    CMG MORTGAGE, INC. 1 5.75% $5,472
    FREEDOM MORTGAGE CORPORATION 1 5.88% $5,578
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $5,167
    NAVY FEDERAL CREDIT UNION 1 5.50% $41
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $12,436
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $3,862
    Prosperity Bank 1 6.13% $6,142
    AMCAP MORTGAGE, LTD. 1 7.13% $9,458
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.25% $6,758
    CARDINAL FINANCIAL 1 6.25% $9,745

    The top Plainview VA lender as defined by loan originations is Mortgage Research Center, LLC, with 6 VA loans originated. Their average total fees are $7,138, which is $2,768 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Plainview VA lenders (with over 10 loans originated) are .

    The lowest rate Plainview VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Plainview (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 $122,400 (4.4%) $150,032 (10.4%) 0.00 104
    2018-02-01 $126,850 (7.4%) $151,313 (8.1%) 0.00 110
    2018-03-01 $139,850 (16.3%) $160,082 (7.7%) 0.00 103
    2018-04-01 $142,375 (18.0%) $166,041 (6.6%) 0.00 92
    2018-05-01 $142,325 (17.3%) $157,142 (2.8%) 0.00 96
    2018-06-01 $147,200 (32.3%) $160,766 (12.8%) 0.00 100
    2018-07-01 $144,500 (31.4%) $163,694 (19.3%) 0.00 113
    2018-08-01 $137,325 (21.1%) $165,664 (18.8%) 0.00 108
    2018-09-01 $130,000 (4.7%) $166,474 (16.4%) 0.00 111
    2018-10-01 $125,000 (-1.5%) $167,202 (11.1%) 0.00 108
    2018-11-01 $125,975 (-0.1%) $163,628 (6.3%) 0.00 116
    2018-12-01 $132,500 (6.7%) $166,610 (8.9%) 0.00 110
    2019-01-01 $120,600 (-1.5%) $162,128 (8.1%) 0.00 103
    2019-02-01 $129,450 (2.1%) $164,691 (8.8%) 0.00 100
    2019-03-01 $138,693 (-0.8%) $169,576 (5.9%) 0.00 97
    2019-04-01 $141,993 (-0.3%) $170,151 (2.5%) 0.00 99
    2019-05-01 $132,475 (-6.9%) $166,700 (6.1%) 0.00 96
    2019-06-01 $131,250 (-10.8%) $163,855 (1.9%) 0.00 92
    2019-07-01 $127,875 (-11.5%) $151,931 (-7.2%) 0.00 107
    2019-08-01 $127,318 (-7.3%) $153,241 (-7.5%) 0.00 103
    2019-09-01 $127,420 (-2.0%) $155,638 (-6.5%) 0.00 99
    2019-10-01 $126,714 (1.4%) $157,656 (-5.7%) 0.00 94
    2019-11-01 $127,000 (0.8%) $156,938 (-4.1%) 0.00 94
    2019-12-01 $135,375 (2.2%) $162,903 (-2.2%) 0.00 90
    2020-01-01 $134,625 (11.6%) $158,986 (-1.9%) 0.00 83
    2020-02-01 $128,950 (-0.4%) $160,397 (-2.6%) 0.00 73
    2020-03-01 $137,250 (-1.0%) $177,794 (4.9%) 0.00 70
    2020-04-01 $139,750 (-1.6%) $191,535 (12.6%) 0.00 69
    2020-05-01 $147,250 (11.2%) $200,830 (20.5%) 0.00 65
    2020-06-01 $144,300 (9.9%) $197,529 (20.6%) 0.00 64
    2020-07-01 $136,050 (6.4%) $177,278 (16.7%) 0.00 61
    2020-08-01 $137,200 (7.8%) $176,415 (15.1%) 0.00 71
    2020-09-01 $136,000 (6.7%) $176,019 (13.1%) 0.00 65
    2020-10-01 $135,500 (6.9%) $177,814 (12.8%) 0.00 54
    2020-11-01 $139,950 (10.2%) $190,497 (21.4%) 0.00 43
    2020-12-01 $143,575 (6.1%) $197,945 (21.5%) 0.00 46
    2021-01-01 $133,500 (-0.8%) $180,609 (13.6%) 0.00 41
    2021-02-01 $132,375 (2.7%) $187,457 (16.9%) 0.00 35
    2021-03-01 $110,875 (-19.2%) $188,491 (6.0%) 0.00 29
    2021-04-01 $114,950 (-17.8%) $189,353 (-1.1%) 0.00 32
    2021-05-01 $110,000 (-25.3%) $247,536 (23.3%) 0.00 24
    2021-06-01 $180,000 (24.7%) $241,830 (22.4%) 0.00 26
    2021-07-01 $149,500 (9.9%) $247,150 (39.4%) 0.00 21
    2021-08-01 $134,750 (-1.8%) $187,014 (6.0%) 0.00 35
    2021-09-01 $139,875 (2.9%) $197,527 (12.2%) 0.00 36
    2021-10-01 $117,475 (-13.3%) $209,376 (17.8%) 0.00 27
    2021-11-01 $129,975 (-7.1%) $220,978 (16.0%) 0.00 27
    2021-12-01 $167,325 (16.5%) $234,950 (18.7%) 0.00 30
    2022-01-01 $140,000 (4.9%) $218,409 (20.9%) 0.00 27
    2022-02-01 $142,938 (8.0%) $226,247 (20.7%) 0.00 29
    2022-03-01 $162,250 (46.3%) $249,120 (32.2%) 0.00 20
    2022-04-01 $189,700 (65.0%) $266,726 (40.9%) 0.00 18
    2022-05-01 $174,000 (58.2%) $255,787 (3.3%) 0.00 25
    2022-06-01 $139,375 (-22.6%) $227,519 (-5.9%) 0.00 27
    2022-07-01 $167,500 (12.0%) $211,732 (-14.3%) 0.00 32
    2022-08-01 $158,575 (17.7%) $212,031 (13.4%) 0.00 28
    2022-09-01 $130,750 (-6.5%) $192,516 (-2.5%) 0.00 33
    2022-10-01 $175,000 (49.0%) $222,054 (6.1%) 0.00 36
    2022-11-01 $169,200 (30.2%) $223,932 (1.3%) 0.00 36
    2022-12-01 $164,900 (-1.5%) $235,723 (0.3%) 0.00 35
    2023-01-01 $156,475 (11.8%) $214,323 (-1.9%) 0.00 38
    2023-02-01 $164,900 (15.4%) $220,521 (-2.5%) 0.00 37
    2023-03-01 $182,500 (12.5%) $237,095 (-4.8%) 0.00 37
    2023-04-01 $199,500 (5.2%) $298,312 (11.8%) 0.00 35
    2023-05-01 $206,500 (18.7%) $284,111 (11.1%) 0.00 45
    2023-06-01 $197,125 (41.4%) $261,861 (15.1%) 0.00 53
    2023-07-01 $197,450 (17.9%) $256,343 (21.1%) 0.00 59
    2023-08-01 $193,185 (21.8%) $244,913 (15.5%) 0.00 74
    2023-09-01 $197,000 (50.7%) $248,325 (29.0%) 0.00 77
    2023-10-01 $195,685 (11.8%) $252,574 (13.7%) 0.00 76
    2023-11-01 $195,870 (15.8%) $279,642 (24.9%) 0.00 83
    2023-12-01 $191,870 (16.4%) $282,136 (19.7%) 0.00 81
    2024-01-01 $197,635 (26.3%) $282,176 (31.7%) 0.00 76
    2024-02-01 $191,738 (16.3%) $268,782 (21.9%) 0.00 77
    2024-03-01 $198,500 (8.8%) $258,662 (9.1%) 0.00 85
    Plainview's median listing price for 2024-03-01 was $198,500, a difference of $16,000 (8.8%) versus the prior year and $6,762 versus the prior month.

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

    Plainview's average listing price for 2024-03-01 was $258,662, a difference of $21,567 (9.1%) versus the prior year and $-10,120 versus the prior month.

    For the 2024-03-01 period, Plainview had 85 MLS listings, a difference of 8 listings (10%) versus the prior month and 48 listings (130%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Plainview (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,816 sqft
    2018-02-01 0 days 1,864 sqft
    2018-03-01 0 days 1,970 sqft
    2018-04-01 0 days 2,020 sqft
    2018-05-01 0 days 1,987 sqft
    2018-06-01 0 days 2,046 sqft
    2018-07-01 0 days 2,004 sqft
    2018-08-01 0 days 1,972 sqft
    2018-09-01 0 days 1,959 sqft
    2018-10-01 0 days 1,935 sqft
    2018-11-01 0 days 1,948 sqft
    2018-12-01 0 days 1,922 sqft
    2019-01-01 0 days 1,911 sqft
    2019-02-01 0 days 1,930 sqft
    2019-03-01 0 days 1,955 sqft
    2019-04-01 0 days 1,969 sqft
    2019-05-01 0 days 1,959 sqft
    2019-06-01 0 days 1,940 sqft
    2019-07-01 0 days 1,901 sqft
    2019-08-01 0 days 1,916 sqft
    2019-09-01 0 days 1,943 sqft
    2019-10-01 0 days 1,965 sqft
    2019-11-01 0 days 1,956 sqft
    2019-12-01 0 days 1,942 sqft
    2020-01-01 0 days 1,941 sqft
    2020-02-01 0 days 1,905 sqft
    2020-03-01 0 days 1,974 sqft
    2020-04-01 0 days 2,045 sqft
    2020-05-01 0 days 2,175 sqft
    2020-06-01 0 days 2,109 sqft
    2020-07-01 0 days 2,030 sqft
    2020-08-01 0 days 2,117 sqft
    2020-09-01 0 days 2,137 sqft
    2020-10-01 0 days 2,078 sqft
    2020-11-01 0 days 1,955 sqft
    2020-12-01 0 days 2,039 sqft
    2021-01-01 0 days 1,910 sqft
    2021-02-01 0 days 1,956 sqft
    2021-03-01 0 days 1,975 sqft
    2021-04-01 0 days 2,012 sqft
    2021-05-01 0 days 1,646 sqft
    2021-06-01 0 days 2,148 sqft
    2021-07-01 0 days 1,635 sqft
    2021-08-01 0 days 1,631 sqft
    2021-09-01 0 days 1,743 sqft
    2021-10-01 0 days 1,631 sqft
    2021-11-01 0 days 1,631 sqft
    2021-12-01 0 days 1,634 sqft
    2022-01-01 0 days 1,633 sqft
    2022-02-01 0 days 1,786 sqft
    2022-03-01 0 days 1,666 sqft
    2022-04-01 0 days 1,912 sqft
    2022-05-01 0 days 1,980 sqft
    2022-06-01 0 days 1,768 sqft
    2022-07-01 0 days 1,913 sqft
    2022-08-01 0 days 1,943 sqft
    2022-09-01 0 days 1,770 sqft
    2022-10-01 0 days 1,801 sqft
    2022-11-01 0 days 1,793 sqft
    2022-12-01 0 days 1,777 sqft
    2023-01-01 0 days 1,697 sqft
    2023-02-01 0 days 1,740 sqft
    2023-03-01 0 days 1,892 sqft
    2023-04-01 0 days 1,960 sqft
    2023-05-01 0 days 1,839 sqft
    2023-06-01 0 days 1,773 sqft
    2023-07-01 0 days 1,874 sqft
    2023-08-01 0 days 1,913 sqft
    2023-09-01 0 days 1,913 sqft
    2023-10-01 0 days 1,910 sqft
    2023-11-01 0 days 1,884 sqft
    2023-12-01 0 days 1,907 sqft
    2024-01-01 0 days 1,920 sqft
    2024-02-01 0 days 1,881 sqft
    2024-03-01 0 days 1,905 sqft
    Plainview's median listing age (time on market) for 2024-03-01 was 0 days.

    Plainview's median square footage for active listings during the 2024-03-01 period was 1,905 sqft. One year prior, the average listing was 1,892 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.