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 82 lenders originated 318 VA loans during 2022. The total origination value was $113,440,000, with an average VA loan value of $356,730.

Sherman VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Sherman averaged 6.59% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

Sherman's average VA mortgage closing costs are $6,716.

The average rate for the prior week (2023-05-19) was 6.02% and one month ago for the week of 2023-04-21, the average rate was 6.34%.

The average rate one year ago was 5.01%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.54%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 51 5.05% $8,350
PULTE MORTGAGE LLC 16 5.00% $4,872
UNITED WHOLESALE MORTGAGE, LLC 14 4.62% $8,126
GUILD MORTGAGE COMPANY 12 5.41% $10,919
DHI MORTGAGE COMPANY, LTD. 12 4.88% $10,669
PRIMELENDING, A PLAINSCAPITAL COMPANY 11 4.76% $13,526
USAA Federal Savings Bank 11 4.16% $8,059
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.90% $7,965
CALIBER HOME LOANS, INC. 9 4.64% $8,392
NAVY FEDERAL CREDIT UNION 8 3.58% $9,355
QUICKEN LOANS, LLC 7 5.14% $12,286
CARDINAL FINANCIAL 6 5.27% $11,802
Prosperity Home Mortgage, LLC 6 4.38% $10,384
PENNYMAC LOAN SERVICES, LLC 6 3.83% $7,081
GUARANTEED RATE, INC. 6 5.00% $13,888
Town Square Mortgage & Investments, Inc. 6 5.71% $7,610
LOANDEPOT.COM, LLC 4 3.97% $11,016
HOME POINT FINANCIAL CORPORATION 4 3.47% $13,843
THRIVE MORTGAGE, LLC 4 5.58% $14,569
CERTAINTY HOME LOANS, LLC 4 4.53% $6,449
CROSSCOUNTRY MORTGAGE, LLC 4 4.50% $9,233
Paramount Residential Mortgage Group, Inc. 4 4.22% $6,754
First United Bank and Trust Company 4 5.41% $6,930
EVERETT FINANCIAL, INC. 3 5.67% $4,845
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.58% $16,490
Mr. Cooper ( Nationstar Mortgage ) 3 4.75% $6,868
MOVEMENT MORTGAGE, LLC 3 4.21% $7,649
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.83% $2,448
First State Bank 3 4.92% $5,705
INTEGRITY MORTGAGE CORPORATION OF TEXAS 3 5.08% $17,519
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.50% $11,896
PENTAGON FEDERAL CREDIT UNION 3 3.63% $3,927
THE MORTGAGE LINK, INC. 2 6.50% $22,713
AMERISAVE MORTGAGE CORPORATION 2 4.56% $21,865
ASPIRE FINANCIAL, INC. 2 4.75% $12,836
CRESTMARK MORTGAGE COMPANY, LTD. 2 4.00% $16,769
FREEDOM MORTGAGE CORPORATION 2 3.63% $12,919
Gateway First Bank 2 3.71% $7,957
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.38% $10,127
MORTGAGE FINANCIAL SERVICES, LLC 2 4.63% $9,501
T2 FINANCIAL LLC 2 5.00% $8,140
ACADEMY MORTGAGE CORPORATION 2 5.25% $8,973
VILLAGE CAPITAL MORTGAGE 2 1.88% $4,387
KBHS HOME LOANS, LLC 1 3.75% $17,798
LAKEVIEW LOAN SERVICING, LLC 1 2.50% $2,617
GUARANTEED RATE AFFINITY, LLC 1 6.75% $234
Magnolia Bank 1 4.63% $13,556
U.S. Bank 1 3.50% $5,031
GREAT WESTERN FINANCIAL SERVICES, INC. 1 4.13% $4,873
First Bank & Trust 1 5.50% $5,754
First Bank 1 5.63% $4,766
Firstar Bank 1 3.25% $17,420
Equity Prime Mortgage LLC 1 5.63% $4,442
NFM, INC. 1 5.13% $33,719
PANORAMA MORTGAGE GROUP, LLC 1 5.63% $11,375
Encompass Lending Group, LP 1 5.25% $19,340
DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $10,064
DAS Acquisition Company, LLC 1 3.63% $8,411
Commercial Bank of Texas 1 3.25% $6,874
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.63% $8,603
Citizens Bank 1 4.63% $16,242
CHERRY CREEK MORTGAGE, LLC 1 4.13% $16,761
Carrington Mortgage Services, LLC 1 5.13% $16,308
RCB Bank 1 3.50% $11,433
SECURITYNATIONAL MORTGAGE COMPANY 1 5.50% $7,843
SFMC, LP 1 3.50% $10,878
SOUTHWEST FUNDING, LP 1 5.25% $16,202
SUCCESS MORTGAGE PARTNERS, INC. 1 5.75% $4,472
VAN DYK MORTGAGE CORPORATION 1 5.50% $8,164
The Central Trust Bank 1 4.75% $3,189
The Home Loan Expert LLC 1 5.75% $4,502
Wells Fargo Bank 1 5.25% $0
BROOKHOLLOW MORTGAGE SERVICES, LTD 1 5.63% $4,453
BROKER SOLUTIONS, INC. 1 4.75% $11,054
Truist 1 3.60% $2,101
UNION HOME MORTGAGE CORP. 1 2.75% $33,156
Bank of England 1 3.25% $16,489
ANGEL OAK HOME LOANS LLC 1 6.25% $4,055
HOMESIDE FINANCIAL, LLC 1 3.50% $8,876
Independent Bank 1 4.88% $8,677
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.13% $5,916
INTERLINC MORTGAGE SERVICES, LLC 1 4.13% $10,884

The top Sherman VA lender as defined by loan originations is Mortgage Research Center, LLC, with 51 VA loans originated. Their average total fees are $8,350, which is $3,478 higher than the next largest lender, PULTE MORTGAGE LLC.

The lowest fee Sherman VA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($4,872), USAA Federal Savings Bank ($8,059), UNITED WHOLESALE MORTGAGE, LLC ($8,126), Mortgage Research Center, LLC ($8,350) and DHI MORTGAGE COMPANY, LTD. ($10,669).

The lowest rate Sherman VA lenders (with over 10 loans originated) are USAA Federal Savings Bank (4.16%), UNITED WHOLESALE MORTGAGE, LLC (4.62%), PRIMELENDING, A PLAINSCAPITAL COMPANY (4.76%), DHI MORTGAGE COMPANY, LTD. (4.88%) and PULTE MORTGAGE LLC (5.00%).


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 $246,495 (13.6%) $333,635 (11.0%) 0.00 433
2018-02-01 $261,750 (20.5%) $344,496 (12.9%) 0.00 387
2018-03-01 $266,750 (18.6%) $347,506 (14.0%) 0.00 388
2018-04-01 $269,576 (19.3%) $349,610 (14.6%) 0.00 393
2018-05-01 $269,451 (13.3%) $353,354 (13.4%) 0.00 437
2018-06-01 $259,900 (9.2%) $353,176 (13.8%) 0.00 472
2018-07-01 $249,950 (12.8%) $336,814 (13.3%) 0.00 524
2018-08-01 $249,900 (10.6%) $338,619 (11.7%) 0.00 557
2018-09-01 $245,000 (8.2%) $340,851 (10.0%) 0.00 565
2018-10-01 $245,200 (4.7%) $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 (-9.0%) $324,568 (-5.8%) 0.00 527
2019-03-01 $238,350 (-8.8%) $325,375 (-5.4%) 0.00 527
2019-04-01 $246,875 (-8.7%) $333,277 (-4.9%) 0.00 538
2019-05-01 $249,105 (-7.6%) $331,464 (-6.2%) 0.00 565
2019-06-01 $245,450 (-5.6%) $320,788 (-9.2%) 0.00 604
2019-07-01 $249,975 (0.0%) $330,835 (-1.8%) 0.00 639
2019-08-01 $249,500 (-1.2%) $329,878 (-3.1%) 0.00 663
2019-09-01 $249,200 (-0.6%) $341,001 (-4.1%) 0.00 606
2019-10-01 $245,225 (-0.8%) $329,883 (-2.6%) 0.00 637
2019-11-01 $249,000 (0.8%) $330,746 (-2.3%) 0.00 597
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 $244,450 (-1.9%) $343,535 (3.6%) 0.00 543
2020-06-01 $240,950 (-1.8%) $332,232 (3.6%) 0.00 518
2020-07-01 $239,675 (-4.1%) $338,273 (2.3%) 0.00 465
2020-08-01 $249,900 (1.2%) $342,724 (4.4%) 0.00 428
2020-09-01 $254,775 (4.6%) $347,001 (6.2%) 0.00 401
2020-10-01 $263,905 (8.5%) $351,981 (7.6%) 0.00 392
2020-11-01 $269,325 (8.2%) $362,256 (9.5%) 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 $279,729 (11.9%) $383,769 (15.0%) 0.00 197
2021-03-01 $276,513 (16.9%) $425,285 (29.1%) 0.00 160
2021-04-01 $278,425 (16.5%) $437,512 (31.2%) 0.00 154
2021-05-01 $295,000 (20.7%) $441,259 (28.5%) 0.00 178
2021-06-01 $310,194 (28.7%) $451,750 (36.0%) 0.00 192
2021-07-01 $329,000 (37.3%) $452,973 (33.9%) 0.00 259
2021-08-01 $330,000 (32.1%) $465,180 (35.7%) 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%) $429,753 (10.2%) 0.00 188
2022-02-01 $347,893 (24.4%) $443,847 (15.7%) 0.00 175
2022-03-01 $352,900 (27.6%) $445,707 (4.8%) 0.00 174
2022-04-01 $349,500 (25.5%) $476,689 (9.0%) 0.00 203
2022-05-01 $374,950 (27.1%) $501,593 (13.7%) 0.00 288
2022-06-01 $367,995 (18.6%) $496,550 (9.9%) 0.00 355
2022-07-01 $389,000 (18.2%) $499,972 (10.4%) 0.00 463
2022-08-01 $376,538 (14.1%) $498,426 (7.2%) 0.00 497
2022-09-01 $370,435 (12.0%) $483,631 (14.8%) 0.00 526
2022-10-01 $367,728 (3.6%) $484,597 (9.7%) 0.00 582
2022-11-01 $359,385 (0.3%) $467,334 (8.2%) 0.00 621
2022-12-01 $359,950 (2.1%) $478,957 (13.1%) 0.00 564
2023-01-01 $345,750 (-4.1%) $458,877 (6.8%) 0.00 524
2023-02-01 $349,750 (0.5%) $453,226 (2.1%) 0.00 480
2023-03-01 $358,975 (1.7%) $472,858 (6.1%) 0.00 465
2023-04-01 $365,000 (0.0%) $483,441 (0.0%) 0.00 471
Sherman's median listing price for 2023-04-01 was $365,000, a difference of $15,500 (0.0%) versus the prior year and $6,025 versus the prior month.

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

Sherman's average listing price for 2023-04-01 was $483,441, a difference of $6,752 (0.0%) versus the prior year and $10,583 versus the prior month.

For the 2023-04-01 period, Sherman had 471 MLS listings, a difference of 6 listings (1%) versus the prior month and 268 listings (132%) 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 2,103 sqft
2018-02-01 0 days 2,132 sqft
2018-03-01 0 days 2,140 sqft
2018-04-01 0 days 2,134 sqft
2018-05-01 0 days 2,124 sqft
2018-06-01 0 days 2,107 sqft
2018-07-01 0 days 2,076 sqft
2018-08-01 0 days 2,086 sqft
2018-09-01 0 days 2,061 sqft
2018-10-01 0 days 2,041 sqft
2018-11-01 0 days 2,030 sqft
2018-12-01 0 days 2,004 sqft
2019-01-01 0 days 2,001 sqft
2019-02-01 0 days 1,963 sqft
2019-03-01 0 days 1,961 sqft
2019-04-01 0 days 2,001 sqft
2019-05-01 0 days 2,021 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 1,993 sqft
2019-09-01 0 days 1,992 sqft
2019-10-01 0 days 1,995 sqft
2019-11-01 0 days 1,994 sqft
2019-12-01 0 days 1,988 sqft
2020-01-01 0 days 1,977 sqft
2020-02-01 0 days 1,960 sqft
2020-03-01 0 days 1,926 sqft
2020-04-01 0 days 1,901 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 1,931 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 2,037 sqft
2021-03-01 0 days 1,951 sqft
2021-04-01 0 days 1,881 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 1,841 sqft
2022-03-01 0 days 1,852 sqft
2022-04-01 0 days 1,850 sqft
2022-05-01 0 days 1,923 sqft
2022-06-01 0 days 1,867 sqft
2022-07-01 0 days 1,978 sqft
2022-08-01 0 days 1,963 sqft
2022-09-01 0 days 1,920 sqft
2022-10-01 0 days 1,939 sqft
2022-11-01 0 days 1,912 sqft
2022-12-01 0 days 1,912 sqft
2023-01-01 0 days 1,861 sqft
2023-02-01 0 days 1,862 sqft
2023-03-01 0 days 1,892 sqft
2023-04-01 0 days 1,906 sqft
Sherman's median listing age (time on market) for 2023-04-01 was 0 days.

Sherman's median square footage for active listings during the 2023-04-01 period was 1,906 sqft. One year prior, the average listing was 1,850 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.