Tyler VA Loan Rates, Closing Costs & Stats
TYLER, 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.
Tyler's 70 lenders originated 264 VA
loans during 2023. The total origination value was $88,140,000, with an average VA loan value of
$333,864.
Tyler VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Tyler
averaged
6.53%
for the week of 2024-10-25, compared to the national average (all VA variants) of
6.14% for the same period.
Tyler's average VA mortgage closing costs are $6,432.
The average rate for the prior week (2024-10-18) was
6.34% and
one month ago for the week of 2024-09-20, the
average rate was 5.74%.
The average rate one year ago was 7.46%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.49%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Tyler 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 Tyler level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
57
|
6.61%
|
$8,678
|
UNITED WHOLESALE MORTGAGE, LLC
|
29
|
6.43%
|
$5,931
|
CMG MORTGAGE, INC.
|
29
|
6.78%
|
$8,980
|
GUARANTEED RATE, INC.
|
10
|
6.34%
|
$5,911
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
8
|
6.51%
|
$10,045
|
NAVY FEDERAL CREDIT UNION
|
8
|
5.59%
|
$5,679
|
QUICKEN LOANS, LLC
|
7
|
6.28%
|
$8,367
|
USAA Federal Savings Bank
|
7
|
6.50%
|
$8,795
|
CARDINAL FINANCIAL
|
7
|
6.61%
|
$12,836
|
HALLMARK HOME MORTGAGE, LLC
|
5
|
6.85%
|
$10,416
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.00%
|
$7,088
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
4
|
7.56%
|
$2,961
|
NEWREZ LLC
|
4
|
7.38%
|
$5,764
|
SUCCESS MORTGAGE PARTNERS, INC.
|
3
|
6.42%
|
$12,502
|
PENTAGON FEDERAL CREDIT UNION
|
3
|
5.88%
|
$6,672
|
Wells Fargo Bank
|
3
|
6.00%
|
$3,086
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
3
|
6.88%
|
$11,713
|
GUILD MORTGAGE COMPANY
|
3
|
6.25%
|
$9,456
|
UNION HOME MORTGAGE CORP.
|
3
|
6.83%
|
$6,628
|
Mid-Continent Funding, Inc.
|
2
|
6.37%
|
$12,067
|
Austin Bank, Texas
|
2
|
6.19%
|
$13,545
|
Ixonia Bank
|
2
|
6.73%
|
$9,451
|
BROKER SOLUTIONS, INC.
|
2
|
6.50%
|
$7,788
|
PREMIA MORTGAGE, LLC
|
2
|
5.69%
|
$10,052
|
MANN FINANCIAL INC.
|
2
|
7.19%
|
$6,061
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
2
|
6.63%
|
$23,252
|
Prosperity Home Mortgage, LLC
|
2
|
6.44%
|
$8,893
|
T2 FINANCIAL LLC
|
2
|
6.75%
|
$12,277
|
AMCAP MORTGAGE, LTD.
|
2
|
6.63%
|
$13,320
|
Mr. Cooper ( Nationstar Mortgage )
|
2
|
6.75%
|
$9,746
|
FREEDOM MORTGAGE CORPORATION
|
2
|
6.87%
|
$7,597
|
Prosperity Bank
|
1
|
6.75%
|
$13,689
|
Southside Bank
|
1
|
7.13%
|
$14,630
|
SUMMIT FUNDING, INC.
|
1
|
6.50%
|
$0
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
8.25%
|
$6,160
|
TIB The Independent Bankersbank
|
1
|
6.38%
|
$12,245
|
TOWNE MORTGAGE COMPANY
|
1
|
5.63%
|
$9,320
|
U.S. Bank
|
1
|
5.13%
|
$7,558
|
Waterstone Mortgage Corporation
|
1
|
7.13%
|
$9,119
|
MOVEMENT MORTGAGE, LLC
|
1
|
5.63%
|
$34,661
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.75%
|
$1,820
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
1
|
5.63%
|
$7,198
|
CALCON MUTUAL MORTGAGE LLC
|
1
|
6.25%
|
$11,958
|
Cambria Financial Group, LLC
|
1
|
4.99%
|
$6,089
|
Century Mortgage Company DBA Century Lending Company
|
1
|
7.13%
|
$7,778
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
7.63%
|
$9,904
|
Colonial Savings, F.A.
|
1
|
6.13%
|
$8,379
|
CROSSCOUNTRY MORTGAGE, LLC
|
1
|
6.56%
|
$3,393
|
Equity Prime Mortgage LLC
|
1
|
7.38%
|
$17,732
|
EVERETT FINANCIAL, INC.
|
1
|
5.50%
|
$12,880
|
Extraco Banks
|
1
|
6.25%
|
$9,777
|
First United Bank and Trust Company
|
1
|
7.38%
|
$17,606
|
GARDNER FINANCIAL SERVICES, LTD.
|
1
|
5.63%
|
$16,849
|
Gateway First Bank
|
1
|
6.41%
|
$24,675
|
GENEVA FINANCIAL, LLC
|
1
|
6.63%
|
$9,635
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
6.75%
|
$12,527
|
LOANDEPOT.COM, LLC
|
1
|
6.63%
|
$12,050
|
MORTGAGE FINANCIAL SERVICES, LLC
|
1
|
5.75%
|
$11,031
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
5.75%
|
$0
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
7.25%
|
$7,962
|
Nations Lending Corporation
|
1
|
6.25%
|
$4,302
|
NATIONS RELIABLE LENDING, LLC
|
1
|
7.63%
|
$8,426
|
NEW DAY FINANCIAL, LLC
|
1
|
7.00%
|
$11,547
|
NTFN, INC.
|
1
|
6.75%
|
$10,753
|
Paramount Residential Mortgage Group, Inc.
|
1
|
6.25%
|
$7,377
|
PENNYMAC LOAN SERVICES, LLC
|
1
|
6.25%
|
$6,145
|
Plains Commerce Bank
|
1
|
6.75%
|
$18,679
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.50%
|
$22,593
|
PNC Bank
|
1
|
6.00%
|
$3,082
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
7.25%
|
$20,462
|
The top Tyler VA lender as defined by loan originations is Mortgage Research Center, LLC, with
57 VA loans originated. Their average total fees are
$8,678, which is $2,748
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Tyler VA lenders (with over 10 loans originated) are
GUARANTEED RATE, INC. ($5,911), UNITED WHOLESALE MORTGAGE, LLC ($5,931), Mortgage Research Center, LLC ($8,678), CMG MORTGAGE, INC. ($8,980) and .
The lowest rate Tyler VA lenders (with over 10 loans originated) are
GUARANTEED RATE, INC. (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.43%), Mortgage Research Center, LLC (6.61%), CMG MORTGAGE, INC. (6.78%) 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.