Waco VA Loan Rates, Closing Costs & Stats

WACO, 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.

Waco's 62 lenders originated 354 VA loans during 2023. The total origination value was $120,260,000, with an average VA loan value of $339,718.

Waco VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Waco averaged 6.51% for the week of 2024-12-06, compared to the national average (all VA variants) of 6.143% for the same period.

Waco's average VA mortgage closing costs are $5,727.

The average rate for the prior week (2024-11-29) was 6.2% and one month ago for the week of 2024-11-01, the average rate was 6.46%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.29%.

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

Waco 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 Waco level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 56 6.77% $7,253
DHI MORTGAGE COMPANY, LTD. 41 5.25% $5,199
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 6.64% $6,410
SWBC MORTGAGE CORPORATION 21 6.12% $5,842
UNITED WHOLESALE MORTGAGE, LLC 18 6.60% $7,602
NAVY FEDERAL CREDIT UNION 14 5.56% $4,936
GUARANTEED RATE, INC. 11 6.29% $7,480
CORNERSTONE HOME LENDING, INC. 10 6.56% $5,371
First National Bank Texas 10 6.16% $4,850
QUICKEN LOANS, LLC 9 5.75% $13,962
USAA Federal Savings Bank 9 6.04% $12,589
PENNYMAC LOAN SERVICES, LLC 8 5.39% $8,738
Trinity Oaks Mortgage, LLC 6 5.96% $12,242
CMG MORTGAGE, INC. 6 6.21% $11,277
AMCAP MORTGAGE, LTD. 5 6.55% $15,828
Wallick & Volk, Inc. 5 6.15% $15,499
PENTAGON FEDERAL CREDIT UNION 5 5.68% $13,402
FREEDOM MORTGAGE CORPORATION 4 6.09% $8,006
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.38% $11,714
AMERICAN PACIFIC MORTGAGE CORPORATION 4 7.00% $20,602
CROSSCOUNTRY MORTGAGE, LLC 3 7.00% $7,438
NEWREZ LLC 3 6.54% $6,416
Flagstar Bank, FSB 3 6.04% $8,207
BOKF 3 6.29% $10,839
LOANPEOPLE, LLC 2 5.37% $9,778
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.13% $51
CARDINAL FINANCIAL 2 7.25% $10,823
Paramount Residential Mortgage Group, Inc. 2 6.63% $10,961
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.69% $14,926
RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 6.25% $7,691
Barrington Bank & Trust Company, N.A. 2 6.00% $4,767
SUMMIT FUNDING, INC. 2 6.81% $13,934
MOVEMENT MORTGAGE, LLC 1 5.50% $5,828
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.75% $1,666
BancorpSouth 1 7.13% $3,479
BAY EQUITY LLC 1 7.99% $775
BROKER SOLUTIONS, INC. 1 6.25% $5,672
Century Mortgage Company DBA Century Lending Company 1 6.88% $0
City Bank 1 7.13% $2,566
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.88% $12,316
Equity Prime Mortgage LLC 1 7.75% $1,325
Extraco Banks 1 6.75% $4,544
Fifth Third Bank 1 5.88% $1,202
FLAT BRANCH MORTGAGE, INC. 1 5.63% $12,292
Gateway First Bank 1 6.25% $3,919
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.50% $7,981
GoPrime Mortgage, Inc. 1 6.75% $5,238
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.13% $17,661
MICHIGAN MUTUAL, INC. 1 6.63% $0
MLD MORTGAGE INC. 1 6.88% $6,056
MORTGAGE FINANCIAL SERVICES, LLC 1 7.00% $14,891
MORTGAGEONE, INC. 1 7.25% $3,245
1ST SIGNATURE LENDING, LLC 1 7.25% $2,814
Nations Lending Corporation 1 6.63% $6,189
Network Funding, L.P. 1 6.63% $8,301
NexBank 1 7.00% $5,716
NTFN, INC. 1 5.25% $24,563
S1L, Inc. 1 6.75% $12,123
SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $5,442
The Federal Savings Bank 1 5.75% $9,644
THRIVE MORTGAGE, LLC 1 6.50% $6,126
UNION HOME MORTGAGE CORP. 1 6.38% $6,110

The top Waco VA lender as defined by loan originations is Mortgage Research Center, LLC, with 56 VA loans originated. Their average total fees are $7,253, which is $2,054 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Waco VA lenders (with over 10 loans originated) are First National Bank Texas ($4,850), NAVY FEDERAL CREDIT UNION ($4,936), DHI MORTGAGE COMPANY, LTD. ($5,199), CORNERSTONE HOME LENDING, INC. ($5,371) and SWBC MORTGAGE CORPORATION ($5,842).

The lowest rate Waco VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.25%), NAVY FEDERAL CREDIT UNION (5.56%), SWBC MORTGAGE CORPORATION (6.12%), First National Bank Texas (6.16%) and GUARANTEED RATE, INC. (6.29%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Waco (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $205,475 (14.2%) $261,888 (1.4%) 0.76 640
2018-02-01 $206,450 (15.1%) $263,018 (1.4%) 0.75 655
2018-03-01 $212,250 (9.1%) $274,832 (3.4%) 0.74 651
2018-04-01 $220,945 (13.3%) $288,865 (12.0%) 0.75 654
2018-05-01 $223,495 (6.9%) $290,318 (7.3%) 0.75 658
2018-06-01 $226,839 (8.1%) $288,820 (3.5%) 0.76 723
2018-07-01 $209,900 (-0.1%) $277,612 (-2.2%) 0.70 800
2018-08-01 $207,563 (-1.1%) $275,907 (0.1%) 0.70 817
2018-09-01 $212,500 (2.6%) $280,769 (4.1%) 0.71 811
2018-10-01 $202,500 (-1.4%) $279,238 (6.0%) 0.69 842
2018-11-01 $200,000 (0.0%) $277,776 (8.8%) 0.68 832
2018-12-01 $200,000 (0.1%) $274,080 (7.2%) 0.69 789
2019-01-01 $202,500 (-1.5%) $269,268 (2.8%) 0.70 747
2019-02-01 $214,885 (4.1%) $269,531 (2.5%) 0.73 746
2019-03-01 $223,043 (5.1%) $277,801 (1.1%) 0.73 725
2019-04-01 $230,950 (4.5%) $286,014 (-1.0%) 0.73 691
2019-05-01 $232,750 (4.1%) $289,214 (-0.4%) 0.73 693
2019-06-01 $229,900 (1.4%) $286,919 (-0.7%) 0.72 723
2019-07-01 $233,625 (11.3%) $292,295 (5.3%) 0.73 784
2019-08-01 $230,245 (10.9%) $287,954 (4.4%) 0.73 779
2019-09-01 $227,239 (6.9%) $279,828 (-0.3%) 0.73 757
2019-10-01 $222,450 (9.9%) $273,749 (-2.0%) 0.72 748
2019-11-01 $225,000 (12.5%) $277,674 (0.0%) 0.74 717
2019-12-01 $223,995 (12.0%) $275,431 (0.5%) 0.75 686
2020-01-01 $220,000 (8.6%) $266,037 (-1.2%) 0.74 651
2020-02-01 $224,900 (4.7%) $269,905 (0.1%) 0.74 678
2020-03-01 $229,225 (2.8%) $271,285 (-2.4%) 0.72 667
2020-04-01 $233,675 (1.2%) $274,852 (-3.9%) 0.73 685
2020-05-01 $254,450 (9.3%) $299,900 (3.7%) 0.77 657
2020-06-01 $258,650 (12.5%) $316,781 (10.4%) 0.76 577
2020-07-01 $253,500 (8.5%) $319,338 (9.3%) 0.73 548
2020-08-01 $250,000 (8.6%) $316,573 (9.9%) 0.72 516
2020-09-01 $247,950 (9.1%) $314,958 (12.6%) 0.71 489
2020-10-01 $249,900 (12.3%) $319,813 (16.8%) 0.72 453
2020-11-01 $243,700 (8.3%) $316,720 (14.1%) 0.71 434
2020-12-01 $244,950 (9.4%) $320,673 (16.4%) 0.73 393
2021-01-01 $239,500 (8.9%) $332,308 (24.9%) 0.71 304
2021-02-01 $236,250 (5.1%) $341,648 (26.6%) 0.69 245
2021-03-01 $249,900 (9.0%) $343,679 (26.7%) 0.71 216
2021-04-01 $254,450 (8.9%) $365,408 (33.0%) 0.69 202
2021-05-01 $275,000 (8.1%) $388,538 (29.6%) 0.73 197
2021-06-01 $276,500 (6.9%) $383,403 (21.0%) 0.73 251
2021-07-01 $264,900 (4.5%) $368,560 (15.4%) 0.70 322
2021-08-01 $273,450 (9.4%) $371,536 (17.4%) 0.73 378
2021-09-01 $274,456 (10.7%) $377,290 (19.8%) 0.73 382
2021-10-01 $274,000 (9.6%) $400,965 (25.4%) 0.73 341
2021-11-01 $292,500 (20.0%) $411,530 (29.9%) 0.78 346
2021-12-01 $299,250 (22.2%) $446,840 (39.3%) 0.81 331
2022-01-01 $269,000 (12.3%) $439,233 (32.2%) 0.73 284
2022-02-01 $276,250 (16.9%) $447,233 (30.9%) 0.72 245
2022-03-01 $304,450 (21.8%) $463,145 (34.8%) 0.76 244
2022-04-01 $300,000 (17.9%) $455,949 (24.8%) 0.72 272
2022-05-01 $325,000 (18.2%) $485,991 (25.1%) 0.74 319
2022-06-01 $349,850 (26.5%) $490,824 (28.0%) 0.78 387
2022-07-01 $351,750 (32.8%) $477,981 (29.7%) 0.79 511
2022-08-01 $350,000 (28.0%) $458,350 (23.4%) 0.81 615
2022-09-01 $336,450 (22.6%) $419,852 (11.3%) 0.79 640
2022-10-01 $325,000 (18.6%) $409,541 (2.1%) 0.76 700
2022-11-01 $318,350 (8.8%) $426,991 (3.8%) 0.77 718
2022-12-01 $319,900 (6.9%) $427,627 (-4.3%) 0.79 708
2023-01-01 $319,950 (18.9%) $422,946 (-3.7%) 0.79 672
2023-02-01 $309,450 (12.0%) $409,177 (-8.5%) 0.75 705
2023-03-01 $310,175 (1.9%) $420,512 (-9.2%) 0.73 737
2023-04-01 $325,000 (8.3%) $434,977 (-4.6%) 0.76 743
2023-05-01 $342,450 (5.4%) $450,430 (-7.3%) 0.78 755
2023-06-01 $349,950 (0.0%) $454,992 (-7.3%) 0.79 795
2023-07-01 $349,000 (-0.8%) $448,038 (-6.3%) 0.79 870
2023-08-01 $349,900 (0.0%) $440,417 (-3.9%) 0.80 910
2023-09-01 $349,999 (4.0%) $444,068 (5.8%) 0.81 899
2023-10-01 $337,800 (3.9%) $428,614 (4.7%) 0.79 941
2023-11-01 $334,900 (5.2%) $428,280 (0.3%) 0.80 945
2023-12-01 $325,500 (1.8%) $422,321 (-1.2%) 0.79 936
2024-01-01 $330,000 (3.1%) $420,959 (-0.5%) 0.81 881
2024-02-01 $345,000 (11.5%) $438,398 (7.1%) 0.83 858
2024-03-01 $345,000 (11.2%) $440,782 (4.8%) 0.81 909
2024-04-01 $347,450 (6.9%) $447,761 (2.9%) 0.81 948
2024-05-01 $345,935 (1.0%) $453,068 (0.6%) 0.78 990
2024-06-01 $339,900 (-2.9%) $451,628 (-0.7%) 0.76 1,049
2024-07-01 $339,950 (-2.6%) $440,747 (-1.6%) 0.78 1,089
2024-08-01 $335,000 (-4.3%) $439,051 (-0.3%) 0.78 1,093
2024-09-01 $330,025 (-5.7%) $438,799 (-1.2%) 0.78 1,109
2024-10-01 $332,450 (-1.6%) $438,022 (2.2%) 0.78 1,095
2024-11-01 $325,000 (-3.0%) $425,281 (-0.7%) 0.00 1,113
Waco's median listing price for 2024-11-01 was $325,000, a difference of $-9,900 (-3.0%) versus the prior year and $-7,450 versus the prior month.

Waco's median listing price comes in at 0% of the national average.

Waco's average listing price for 2024-11-01 was $425,281, a difference of $-2,999 (-0.7%) versus the prior year and $-12,741 versus the prior month.

For the 2024-11-01 period, Waco had 1,113 MLS listings, a difference of 18 listings (2%) versus the prior month and 168 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Waco (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 77 days 1,961 sqft
2018-02-01 73 days 1,948 sqft
2018-03-01 59 days 1,975 sqft
2018-04-01 57 days 2,064 sqft
2018-05-01 52 days 2,056 sqft
2018-06-01 46 days 2,029 sqft
2018-07-01 44 days 1,984 sqft
2018-08-01 50 days 2,002 sqft
2018-09-01 60 days 2,031 sqft
2018-10-01 65 days 1,967 sqft
2018-11-01 71 days 2,004 sqft
2018-12-01 78 days 1,998 sqft
2019-01-01 83 days 1,993 sqft
2019-02-01 77 days 2,009 sqft
2019-03-01 65 days 2,021 sqft
2019-04-01 55 days 2,033 sqft
2019-05-01 52 days 2,035 sqft
2019-06-01 46 days 2,024 sqft
2019-07-01 45 days 2,034 sqft
2019-08-01 50 days 2,023 sqft
2019-09-01 57 days 1,997 sqft
2019-10-01 61 days 1,969 sqft
2019-11-01 66 days 1,976 sqft
2019-12-01 75 days 1,960 sqft
2020-01-01 76 days 1,945 sqft
2020-02-01 59 days 1,951 sqft
2020-03-01 55 days 2,009 sqft
2020-04-01 57 days 1,987 sqft
2020-05-01 54 days 2,046 sqft
2020-06-01 53 days 2,067 sqft
2020-07-01 54 days 2,084 sqft
2020-08-01 51 days 2,053 sqft
2020-09-01 50 days 2,015 sqft
2020-10-01 57 days 2,044 sqft
2020-11-01 52 days 1,997 sqft
2020-12-01 53 days 1,997 sqft
2021-01-01 64 days 1,995 sqft
2021-02-01 46 days 1,812 sqft
2021-03-01 40 days 1,847 sqft
2021-04-01 30 days 1,853 sqft
2021-05-01 23 days 1,949 sqft
2021-06-01 16 days 1,939 sqft
2021-07-01 21 days 1,858 sqft
2021-08-01 24 days 1,886 sqft
2021-09-01 31 days 1,884 sqft
2021-10-01 43 days 1,958 sqft
2021-11-01 42 days 2,006 sqft
2021-12-01 41 days 1,979 sqft
2022-01-01 47 days 1,796 sqft
2022-02-01 42 days 1,843 sqft
2022-03-01 32 days 1,893 sqft
2022-04-01 24 days 1,784 sqft
2022-05-01 22 days 1,829 sqft
2022-06-01 23 days 1,915 sqft
2022-07-01 29 days 1,986 sqft
2022-08-01 36 days 1,972 sqft
2022-09-01 40 days 1,912 sqft
2022-10-01 46 days 1,827 sqft
2022-11-01 52 days 1,810 sqft
2022-12-01 62 days 1,842 sqft
2023-01-01 68 days 1,832 sqft
2023-02-01 62 days 1,770 sqft
2023-03-01 51 days 1,802 sqft
2023-04-01 53 days 1,837 sqft
2023-05-01 61 days 1,954 sqft
2023-06-01 62 days 1,997 sqft
2023-07-01 53 days 1,973 sqft
2023-08-01 56 days 1,973 sqft
2023-09-01 64 days 1,964 sqft
2023-10-01 69 days 1,941 sqft
2023-11-01 68 days 1,916 sqft
2023-12-01 72 days 1,887 sqft
2024-01-01 81 days 1,856 sqft
2024-02-01 83 days 1,893 sqft
2024-03-01 66 days 1,914 sqft
2024-04-01 56 days 1,935 sqft
2024-05-01 54 days 1,959 sqft
2024-06-01 58 days 1,914 sqft
2024-07-01 65 days 1,921 sqft
2024-08-01 73 days 1,914 sqft
2024-09-01 72 days 1,908 sqft
2024-10-01 75 days 1,922 sqft
2024-11-01 0 days 1,897 sqft
Waco's median listing age (time on market) for 2024-11-01 was 0 days. This is -100% shorter than the same period one year ago.

Waco's median square footage for active listings during the 2024-11-01 period was 1,897 sqft. One year prior, the average listing was 1,916 sqft.

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.