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.