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
6.5%
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.