San Angelo VA Loan Rates, Closing Costs & Stats

SAN ANGELO, 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.

    San Angelo's 52 lenders originated 250 VA loans during 2023. The total origination value was $73,740,000, with an average VA loan value of $294,960.

    San Angelo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in San Angelo averaged 6.46% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    San Angelo's average VA mortgage closing costs are $6,658.

    The average rate for the prior week (2024-07-12) was 6.7% and one month ago for the week of 2024-06-14, the average rate was 6.46%.

    The average rate one year ago was 6.65%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.2%.

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

    San Angelo 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 San Angelo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 52 6.60% $5,611
    MORTGAGE FINANCIAL SERVICES, LLC 31 6.56% $10,118
    NAVY FEDERAL CREDIT UNION 18 5.75% $6,385
    AMERICAN PACIFIC MORTGAGE CORPORATION 18 6.67% $11,241
    First Financial Bank 16 6.41% $10,321
    GUILD MORTGAGE COMPANY 12 6.81% $11,487
    USAA Federal Savings Bank 10 6.28% $8,631
    UNITED WHOLESALE MORTGAGE, LLC 8 6.47% $4,060
    T2 FINANCIAL LLC 7 6.40% $7,595
    QUICKEN LOANS, LLC 7 5.85% $13,102
    GUARANTEED RATE, INC. 5 6.95% $6,822
    University Bank 5 6.05% $11,076
    PENNYMAC LOAN SERVICES, LLC 5 6.48% $7,722
    GENEVA FINANCIAL, LLC 3 7.29% $9,988
    Flagstar Bank, FSB 2 6.51% $8,549
    PENTAGON FEDERAL CREDIT UNION 2 5.81% $5,119
    Plains Commerce Bank 2 6.31% $9,371
    GoPrime Mortgage, Inc. 2 7.13% $5,346
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.44% $10,949
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.75% $3,808
    NATIONS RELIABLE LENDING, LLC 2 7.75% $6,692
    FREEDOM MORTGAGE CORPORATION 2 6.06% $18,973
    Prosperity Bank 1 5.63% $7,882
    Prosperity Home Mortgage, LLC 1 6.62% $3,939
    RADIUS FINANCIAL GROUP INC. 1 7.00% $3,584
    RB MORTGAGE LLC 1 6.88% $1,072
    The Loan Store, Inc. 1 5.25% $6,875
    TIB The Independent Bankersbank 1 6.50% $5,253
    TOWNE MORTGAGE COMPANY 1 6.63% $4,347
    ACADEMY MORTGAGE CORPORATION 1 6.63% $10,509
    ZILLOW HOME LOANS, LLC 1 7.38% $6,092
    AMCAP MORTGAGE, LTD. 1 5.49% $9,156
    Bank of England 1 6.75% $10,523
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $8,235
    Equity Prime Mortgage LLC 1 7.75% $13,293
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,741
    GARDNER FINANCIAL SERVICES, LTD. 1 5.75% $18,859
    Gateway First Bank 1 6.88% $1,072
    Ixonia Bank 1 6.75% $10,548
    JMJ FINANCIAL GROUP 1 5.88% $16,116
    LEGEND LENDING CORPORATION 1 6.75% $17,066
    LOANDEPOT.COM, LLC 1 7.25% $10,115
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $5,629
    MID AMERICA MORTGAGE, INC. 1 6.75% $20,577
    MOVEMENT MORTGAGE, LLC 1 6.25% $21,707
    Nations Lending Corporation 1 7.75% $2,161
    NBKC BANK 1 5.63% $4,079
    Network Funding, L.P. 1 7.00% $14,884
    NEWREZ LLC 1 5.75% $16,091
    OPEN MORTGAGE, LLC 1 5.75% $3,011
    PLAZA HOME MORTGAGE, INC. 1 6.50% $2,795
    PREMIA MORTGAGE, LLC 1 6.00% $10,435

    The top San Angelo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 52 VA loans originated. Their average total fees are $5,611, which is $4,507 lower than the next largest lender, MORTGAGE FINANCIAL SERVICES, LLC.

    The lowest fee San Angelo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,611), NAVY FEDERAL CREDIT UNION ($6,385), USAA Federal Savings Bank ($8,631), MORTGAGE FINANCIAL SERVICES, LLC ($10,118) and First Financial Bank ($10,321).

    The lowest rate San Angelo VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.75%), USAA Federal Savings Bank (6.28%), First Financial Bank (6.41%), MORTGAGE FINANCIAL SERVICES, LLC (6.56%) and Mortgage Research Center, LLC (6.60%).

    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.