Sherman VA Loan Rates, Closing Costs & Stats

SHERMAN-DENISON, 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.

    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 6.5% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.54% and one month ago for the week of 2024-06-14, the average rate was 6.7%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.85%.

    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%).

    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.