Texarkana VA Loan Rates, Closing Costs & Stats

TEXARKANA, TX-AR

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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.

    Texarkana's 42 lenders originated 181 VA loans during 2023. The total origination value was $47,725,000, with an average VA loan value of $263,674.

    Texarkana VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Texarkana averaged 6.49% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Texarkana's average VA mortgage closing costs are $5,227.

    The average rate for the prior week (2024-11-01) was 6.74% and one month ago for the week of 2024-10-04, the average rate was 5.77%.

    The average rate one year ago was 7.53%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.38%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Texarkana 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 Texarkana level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.95% $4,133
    MORTGAGE FINANCIAL SERVICES, LLC 22 6.71% $7,901
    NAVY FEDERAL CREDIT UNION 14 5.92% $5,925
    UNITED WHOLESALE MORTGAGE, LLC 11 6.56% $7,904
    EVERETT FINANCIAL, INC. 9 6.96% $4,757
    USAA Federal Savings Bank 7 6.07% $8,426
    GUILD MORTGAGE COMPANY 7 6.21% $10,025
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 7.02% $10,882
    QUICKEN LOANS, LLC 6 6.39% $9,950
    State Bank of De Kalb 5 5.80% $5,871
    SWBC MORTGAGE CORPORATION 5 6.35% $7,969
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.97% $1,949
    Mr. Cooper ( Nationstar Mortgage ) 4 5.91% $9,917
    SECURITYNATIONAL MORTGAGE COMPANY 3 6.58% $10,303
    Mid-Continent Funding, Inc. 2 6.06% $5,210
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $9,402
    Barrington Bank & Trust Company, N.A. 2 6.50% $6,677
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.88% $4,031
    GUARANTEED RATE, INC. 2 7.50% $92
    HOMESPIRE MORTGAGE CORPORATION 1 6.75% $8,678
    LEADERONE FINANCIAL CORPORATION 1 7.25% $7,097
    AMCAP MORTGAGE, LTD. 1 6.75% $6,590
    Gateway First Bank 1 6.38% $8,276
    MORTGAGEONE, INC. 1 5.00% $8,545
    FREEDOM MORTGAGE CORPORATION 1 5.50% $11,083
    FirstTrust Home Loans, Inc. 1 7.63% $3,320
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $3,253
    NATIONS RELIABLE LENDING, LLC 1 5.25% $9,164
    CMG MORTGAGE, INC. 1 6.75% $4,625
    NEW DAY FINANCIAL, LLC 1 7.50% $5,512
    PENTAGON FEDERAL CREDIT UNION 1 5.88% $3,101
    Plains Commerce Bank 1 6.25% $25,063
    PREMIA MORTGAGE, LLC 1 6.13% $8,361
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $6,403
    CARDINAL FINANCIAL 1 7.25% $17,158
    Regions Bank 1 7.25% $3,564
    BROKER SOLUTIONS, INC. 1 5.99% $11,061
    BNC National Bank 1 5.50% $7,463
    BancorpSouth 1 7.25% $2,900
    T2 FINANCIAL LLC 1 5.00% $5,207
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $11,426
    AMERICAN FINANCIAL NETWORK, INC. 1 7.88% $21,360

    The top Texarkana VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $4,133, which is $3,768 lower than the next largest lender, MORTGAGE FINANCIAL SERVICES, LLC.

    The lowest fee Texarkana VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,133), NAVY FEDERAL CREDIT UNION ($5,925), MORTGAGE FINANCIAL SERVICES, LLC ($7,901), UNITED WHOLESALE MORTGAGE, LLC ($7,904) and .

    The lowest rate Texarkana VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.92%), UNITED WHOLESALE MORTGAGE, LLC (6.56%), MORTGAGE FINANCIAL SERVICES, LLC (6.71%), Mortgage Research Center, LLC (6.95%) and .

    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.