Waco VA Loan Rates, Closing Costs & Stats

WACO, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.6% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.36% and one month ago for the week of 2024-10-04, the average rate was 5.79%.

    The average rate one year ago was 7.44%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.48%.

    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
    Waco's median listing price for 2024-10-01 was $332,450, a difference of $-5,350 (-1.6%) versus the prior year and $2,425 versus the prior month.

    Waco's median listing price comes in at 78% of the national average.

    Waco's average listing price for 2024-10-01 was $438,022, a difference of $9,408 (2.2%) versus the prior year and $-777 versus the prior month.

    For the 2024-10-01 period, Waco had 1,095 MLS listings, a difference of -14 listings (-1%) versus the prior month and 154 listings (16%) 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
    Waco's median listing age (time on market) for 2024-10-01 was 75 days. This is 8% longer than the same period one year ago.

    Waco's median square footage for active listings during the 2024-10-01 period was 1,922 sqft. One year prior, the average listing was 1,941 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.