Sherman VA Loan Rates, Closing Costs & Stats

SHERMAN-DENISON, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.