Sheridan VA Loan Rates, Closing Costs & Stats

Sheridan, WY

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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.

    Sheridan's 23 lenders originated 47 VA loans during 2023. The total origination value was $19,675,000, with an average VA loan value of $418,617.

    Sheridan VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Sheridan averaged 6.2% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Sheridan's average VA mortgage closing costs are $6,401.

    The average rate for the prior week (2024-11-01) was 6.46% and one month ago for the week of 2024-10-04, the average rate was 5.49%.

    The average rate one year ago was 7.24%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Sheridan 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 Sheridan level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 11 6.59% $5,162
    UNITED WHOLESALE MORTGAGE, LLC 4 6.50% $7,938
    Gateway First Bank 3 5.58% $6,961
    NAVY FEDERAL CREDIT UNION 3 5.29% $6,971
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.38% $4,233
    First Interstate Bank 2 6.88% $4,872
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.25% $9,414
    NEW DAY FINANCIAL, LLC 2 7.74% $24,446
    QUICKEN LOANS, LLC 2 5.37% $12,385
    The Federal Savings Bank 2 6.00% $22,321
    USAA Federal Savings Bank 1 6.25% $2,185
    FirstBank 1 7.63% $14,023
    TOWNE MORTGAGE COMPANY 1 7.00% $13,920
    NEWREZ LLC 1 7.25% $8,129
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $35,320
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $3,462
    PLANET HOME LENDING, LLC 1 6.38% $6,295
    Barrington Bank & Trust Company, N.A. 1 7.75% $24,179
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $14,405
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $5,269
    Glacier Bank 1 6.00% $43,167
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $6,603
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $22,317

    The top Sheridan VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $5,162, which is $2,776 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Sheridan VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,162), .

    The lowest rate Sheridan VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.59%), .

    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.