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 6.56% for the week of 2023-12-01, compared to the national average (all VA variants) of 6.774% for the same period.

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

The average rate for the prior week (2023-11-24) was 6.89% and one month ago for the week of 2023-10-27, the average rate was 7.53%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.9%.

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%).

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.