Sherman VA Loan Rates, Closing Costs & Stats

SHERMAN-DENISON, TX

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.

Sherman's 67 lenders originated 238 VA loans during 2023. The total origination value was $84,670,000, with an average VA loan value of $355,756.

Sherman VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Sherman averaged 6.99% for the week of 2024-05-10, compared to the national average (all VA variants) of 6.593% for the same period.

Sherman's average VA mortgage closing costs are $7,038.

The average rate for the prior week (2024-05-03) was 6.82% and one month ago for the week of 2024-04-05, the average rate was 6.62%.

The average rate one year ago was 6.09%.

For refis of the same type during the week of 2024-05-10, the average rate was 6.94%.

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

Sherman 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 Sherman level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 42 6.62% $7,678
UNITED WHOLESALE MORTGAGE, LLC 17 6.20% $8,025
GUILD MORTGAGE COMPANY 12 6.48% $9,295
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 5.72% $13,641
DHI MORTGAGE COMPANY, LTD. 10 5.21% $8,172
NAVY FEDERAL CREDIT UNION 9 5.67% $5,006
CROSSCOUNTRY MORTGAGE, LLC 7 6.45% $4,556
CARDINAL FINANCIAL 7 6.25% $14,752
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.93% $8,507
Town Square Mortgage & Investments, Inc. 6 6.73% $11,975
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.00% $10,232
GUARANTEED RATE, INC. 5 6.42% $7,702
Republic State Mortgage Co. 5 6.40% $9,748
USAA Federal Savings Bank 5 6.20% $12,439
QUICKEN LOANS, LLC 5 6.30% $5,995
NFM, INC. 4 6.53% $15,285
Prosperity Home Mortgage, LLC 4 6.22% $10,655
First United Bank and Trust Company 4 6.84% $10,227
CALIBER HOME LOANS, INC. 3 6.04% $14,077
SFMC, LP 3 6.42% $12,141
Equity Prime Mortgage LLC 2 7.50% $12,208
BancorpSouth 2 6.56% $4,246
CMG MORTGAGE, INC. 2 5.81% $10,997
EVERETT FINANCIAL, INC. 2 7.19% $12,542
GUARANTEED RATE AFFINITY, LLC 2 6.19% $5,173
Independent Bank 2 6.13% $10,750
Magnolia Bank 2 5.94% $18,191
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $3,300
NEWREZ LLC 2 6.94% $10,604
PENNYMAC LOAN SERVICES, LLC 2 5.44% $14,149
PRIORITY HOME MORTGAGE, L.P. 2 5.38% $1,443
THE MORTGAGE LINK, INC. 2 6.50% $19,568
Ixonia Bank 1 5.50% $23,564
Lincoln Savings Bank 1 6.63% $3,553
Waterstone Mortgage Corporation 1 7.00% $10,849
MICHIGAN MUTUAL, INC. 1 5.75% $7,938
MID AMERICA MORTGAGE, INC. 1 6.75% $4,093
MORTGAGE FINANCIAL SERVICES, LLC 1 6.38% $26,891
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.49% $5,866
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $1,570
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $4,745
THRIVE MORTGAGE, LLC 1 6.13% $8,916
ACADEMY MORTGAGE CORPORATION 1 7.25% $6,190
NBKC BANK 1 5.63% $21,942
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.88% $7,743
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $9,518
OPEN MORTGAGE, LLC 1 7.13% $14,079
Paramount Residential Mortgage Group, Inc. 1 6.99% $100
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $21,467
Plains Commerce Bank 1 5.25% $18,777
Cornerstone First Mortgage, Inc 1 5.75% $24,049
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $0
Citizens Bank 1 6.25% $3,449
PULTE MORTGAGE LLC 1 5.38% $8,308
Century Mortgage Company DBA Century Lending Company 1 6.50% $17,605
Renasant Bank 1 5.50% $15,812
ASPIRE FINANCIAL, INC. 1 5.63% $20,371
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $17,876
Strong Home Mortgage, LLC 1 5.50% $13,893
Gateway First Bank 1 6.75% $1,974
SUCCESS MORTGAGE PARTNERS, INC. 1 5.99% $9,744
First National Bank Texas 1 5.88% $8,016
FIRST CONTINENTAL MORTGAGE, LTD. 1 5.99% $4,194
FBC MORTGAGE, LLC 1 7.25% $5,926
SWBC MORTGAGE CORPORATION 1 4.57% $15,389
INTERCAP LENDING INC. 1 5.88% $9,170
INTERLINC MORTGAGE SERVICES, LLC 1 6.63% $9,435

The top Sherman VA lender as defined by loan originations is Mortgage Research Center, LLC, with 42 VA loans originated. Their average total fees are $7,678, which is $347 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Sherman VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,678), UNITED WHOLESALE MORTGAGE, LLC ($8,025), DHI MORTGAGE COMPANY, LTD. ($8,172), GUILD MORTGAGE COMPANY ($9,295) and PRIMELENDING, A PLAINSCAPITAL COMPANY ($13,641).

The lowest rate Sherman VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.21%), PRIMELENDING, A PLAINSCAPITAL COMPANY (5.72%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), GUILD MORTGAGE COMPANY (6.48%) and Mortgage Research Center, LLC (6.62%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sherman (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 $246,373 (13.4%) $333,732 (11.0%) 0.00 432
2018-02-01 $259,625 (19.7%) $344,628 (13.0%) 0.00 386
2018-03-01 $265,000 (17.8%) $347,639 (14.1%) 0.00 387
2018-04-01 $269,253 (19.1%) $349,751 (14.6%) 0.00 392
2018-05-01 $269,450 (13.3%) $353,498 (13.4%) 0.00 436
2018-06-01 $259,900 (8.7%) $353,310 (13.8%) 0.00 471
2018-07-01 $249,950 (12.6%) $336,814 (13.4%) 0.00 524
2018-08-01 $249,900 (10.5%) $338,619 (11.7%) 0.00 557
2018-09-01 $245,000 (7.6%) $340,851 (10.0%) 0.00 565
2018-10-01 $245,200 (4.0%) $335,957 (5.1%) 0.00 591
2018-11-01 $247,000 (8.6%) $338,556 (5.0%) 0.00 590
2018-12-01 $239,995 (7.3%) $331,029 (4.5%) 0.00 573
2019-01-01 $241,223 (-2.1%) $334,320 (0.2%) 0.00 508
2019-02-01 $238,175 (-8.3%) $324,568 (-5.8%) 0.00 527
2019-03-01 $243,286 (-8.2%) $328,656 (-5.5%) 0.00 529
2019-04-01 $246,198 (-8.6%) $332,373 (-5.0%) 0.00 538
2019-05-01 $249,350 (-7.5%) $334,447 (-5.4%) 0.00 567
2019-06-01 $245,900 (-5.4%) $324,029 (-8.3%) 0.00 606
2019-07-01 $250,000 (0.0%) $332,138 (-1.4%) 0.00 642
2019-08-01 $247,700 (-0.9%) $329,447 (-2.7%) 0.00 659
2019-09-01 $245,000 (0.0%) $328,212 (-3.7%) 0.00 655
2019-10-01 $244,475 (-0.3%) $328,588 (-2.2%) 0.00 642
2019-11-01 $249,000 (0.8%) $332,162 (-1.9%) 0.00 600
2019-12-01 $245,200 (2.2%) $333,509 (0.8%) 0.00 545
2020-01-01 $247,900 (2.8%) $333,736 (-0.2%) 0.00 513
2020-02-01 $249,900 (4.9%) $333,615 (2.8%) 0.00 496
2020-03-01 $236,463 (-2.8%) $329,399 (0.2%) 0.00 592
2020-04-01 $239,000 (-2.9%) $333,421 (0.3%) 0.00 582
2020-05-01 $244,500 (-2.0%) $343,535 (2.7%) 0.00 544
2020-06-01 $241,225 (-1.9%) $332,823 (2.7%) 0.00 519
2020-07-01 $239,924 (-4.0%) $338,852 (2.0%) 0.00 466
2020-08-01 $249,950 (0.9%) $343,338 (4.2%) 0.00 429
2020-09-01 $254,775 (4.0%) $347,001 (5.7%) 0.00 401
2020-10-01 $263,905 (8.0%) $351,981 (7.1%) 0.00 392
2020-11-01 $269,325 (8.2%) $362,256 (9.1%) 0.00 368
2020-12-01 $266,144 (8.5%) $368,265 (10.4%) 0.00 323
2021-01-01 $285,000 (15.0%) $390,152 (16.9%) 0.00 243
2021-02-01 $279,814 (12.0%) $383,553 (15.0%) 0.00 198
2021-03-01 $277,400 (17.3%) $425,145 (29.1%) 0.00 160
2021-04-01 $278,950 (16.7%) $437,512 (31.2%) 0.00 154
2021-05-01 $295,000 (20.7%) $441,259 (28.5%) 0.00 178
2021-06-01 $312,206 (29.4%) $455,249 (36.8%) 0.00 193
2021-07-01 $329,000 (37.1%) $453,992 (34.0%) 0.00 259
2021-08-01 $330,000 (32.0%) $465,180 (35.5%) 0.00 290
2021-09-01 $330,808 (29.8%) $421,341 (21.4%) 0.00 307
2021-10-01 $355,000 (34.5%) $441,706 (25.5%) 0.00 276
2021-11-01 $358,255 (33.0%) $431,944 (19.2%) 0.00 249
2021-12-01 $352,450 (32.4%) $423,331 (15.0%) 0.00 230
2022-01-01 $360,400 (26.5%) $430,685 (10.4%) 0.00 188
2022-02-01 $348,868 (24.7%) $444,663 (15.9%) 0.00 175
2022-03-01 $353,650 (27.5%) $446,081 (4.9%) 0.00 174
2022-04-01 $352,900 (26.5%) $476,045 (8.8%) 0.00 203
2022-05-01 $380,375 (28.9%) $501,721 (13.7%) 0.00 288
2022-06-01 $370,118 (18.6%) $496,961 (9.2%) 0.00 355
2022-07-01 $389,000 (18.2%) $498,850 (9.9%) 0.00 461
2022-08-01 $376,538 (14.1%) $498,023 (7.1%) 0.00 495
2022-09-01 $368,623 (11.4%) $483,765 (14.8%) 0.00 523
2022-10-01 $365,983 (3.1%) $483,676 (9.5%) 0.00 580
2022-11-01 $359,385 (0.3%) $465,702 (7.8%) 0.00 617
2022-12-01 $359,900 (2.1%) $478,755 (13.1%) 0.00 562
2023-01-01 $345,950 (-4.0%) $459,553 (6.7%) 0.00 524
2023-02-01 $349,950 (0.3%) $453,014 (1.9%) 0.00 480
2023-03-01 $359,000 (1.5%) $472,954 (6.0%) 0.00 465
2023-04-01 $365,000 (3.4%) $484,017 (1.7%) 0.00 471
2023-05-01 $386,950 (1.7%) $523,428 (4.3%) 0.00 499
2023-06-01 $385,000 (4.0%) $532,287 (7.1%) 0.00 552
2023-07-01 $391,170 (0.6%) $536,712 (7.6%) 0.00 617
2023-08-01 $386,000 (2.5%) $544,221 (9.3%) 0.00 637
2023-09-01 $385,000 (4.4%) $535,460 (10.7%) 0.00 667
2023-10-01 $373,935 (2.2%) $514,190 (6.3%) 0.00 736
2023-11-01 $379,225 (5.5%) $525,085 (12.8%) 0.00 727
2023-12-01 $375,000 (4.2%) $532,833 (11.3%) 0.00 700
2024-01-01 $373,290 (7.9%) $531,115 (15.6%) 0.00 661
2024-02-01 $374,945 (7.1%) $544,639 (20.2%) 0.00 678
2024-03-01 $379,000 (5.6%) $544,856 (15.2%) 0.00 732
2024-04-01 $395,056 (8.2%) $547,301 (13.1%) 0.00 824
Sherman's median listing price for 2024-04-01 was $395,056, a difference of $30,056 (8.2%) versus the prior year and $16,056 versus the prior month.

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

Sherman's average listing price for 2024-04-01 was $547,301, a difference of $63,284 (13.1%) versus the prior year and $2,445 versus the prior month.

For the 2024-04-01 period, Sherman had 824 MLS listings, a difference of 92 listings (13%) versus the prior month and 353 listings (75%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sherman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,099 sqft
2018-02-01 0 days 2,126 sqft
2018-03-01 0 days 2,135 sqft
2018-04-01 0 days 2,131 sqft
2018-05-01 0 days 2,120 sqft
2018-06-01 0 days 2,103 sqft
2018-07-01 0 days 2,070 sqft
2018-08-01 0 days 2,086 sqft
2018-09-01 0 days 2,061 sqft
2018-10-01 0 days 2,039 sqft
2018-11-01 0 days 2,029 sqft
2018-12-01 0 days 2,003 sqft
2019-01-01 0 days 1,999 sqft
2019-02-01 0 days 1,963 sqft
2019-03-01 0 days 1,973 sqft
2019-04-01 0 days 2,007 sqft
2019-05-01 0 days 2,013 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 1,973 sqft
2019-09-01 0 days 1,970 sqft
2019-10-01 0 days 1,984 sqft
2019-11-01 0 days 1,997 sqft
2019-12-01 0 days 1,987 sqft
2020-01-01 0 days 1,977 sqft
2020-02-01 0 days 1,960 sqft
2020-03-01 0 days 1,924 sqft
2020-04-01 0 days 1,900 sqft
2020-05-01 0 days 1,904 sqft
2020-06-01 0 days 1,911 sqft
2020-07-01 0 days 1,899 sqft
2020-08-01 0 days 1,902 sqft
2020-09-01 0 days 1,930 sqft
2020-10-01 0 days 1,992 sqft
2020-11-01 0 days 2,025 sqft
2020-12-01 0 days 1,989 sqft
2021-01-01 0 days 2,010 sqft
2021-02-01 0 days 2,034 sqft
2021-03-01 0 days 1,953 sqft
2021-04-01 0 days 1,883 sqft
2021-05-01 0 days 1,897 sqft
2021-06-01 0 days 1,963 sqft
2021-07-01 0 days 2,020 sqft
2021-08-01 0 days 2,026 sqft
2021-09-01 0 days 2,005 sqft
2021-10-01 0 days 2,067 sqft
2021-11-01 0 days 2,038 sqft
2021-12-01 0 days 2,006 sqft
2022-01-01 0 days 1,920 sqft
2022-02-01 0 days 1,842 sqft
2022-03-01 0 days 1,847 sqft
2022-04-01 0 days 1,850 sqft
2022-05-01 0 days 1,924 sqft
2022-06-01 0 days 1,870 sqft
2022-07-01 0 days 1,977 sqft
2022-08-01 0 days 1,971 sqft
2022-09-01 0 days 1,920 sqft
2022-10-01 0 days 1,931 sqft
2022-11-01 0 days 1,912 sqft
2022-12-01 0 days 1,914 sqft
2023-01-01 0 days 1,863 sqft
2023-02-01 0 days 1,862 sqft
2023-03-01 0 days 1,896 sqft
2023-04-01 0 days 1,908 sqft
2023-05-01 0 days 1,917 sqft
2023-06-01 0 days 1,953 sqft
2023-07-01 0 days 1,933 sqft
2023-08-01 0 days 1,974 sqft
2023-09-01 0 days 1,957 sqft
2023-10-01 0 days 1,927 sqft
2023-11-01 0 days 1,936 sqft
2023-12-01 0 days 1,931 sqft
2024-01-01 0 days 1,902 sqft
2024-02-01 0 days 1,940 sqft
2024-03-01 0 days 1,955 sqft
2024-04-01 0 days 1,978 sqft
Sherman's median listing age (time on market) for 2024-04-01 was 0 days.

Sherman's median square footage for active listings during the 2024-04-01 period was 1,978 sqft. One year prior, the average listing was 1,908 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.