Wichita Falls VA Loan Rates, Closing Costs & Stats

WICHITA FALLS, TX

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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.

    Wichita Falls's 57 lenders originated 431 VA loans during 2023. The total origination value was $108,415,000, with an average VA loan value of $251,543.

    Wichita Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wichita Falls averaged 6.43% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Wichita Falls's average VA mortgage closing costs are $5,846.

    The average rate for the prior week (2024-11-01) was 6.69% and one month ago for the week of 2024-10-04, the average rate was 5.91%.

    The average rate one year ago was 7.67%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

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

    Wichita Falls 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 Wichita Falls level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 89 6.64% $5,927
    FLAT BRANCH MORTGAGE, INC. 49 6.47% $8,457
    American National Bank & Trust 37 6.18% $8,245
    PRIMELENDING, A PLAINSCAPITAL COMPANY 32 6.62% $5,264
    USAA Federal Savings Bank 28 6.13% $8,582
    NAVY FEDERAL CREDIT UNION 24 5.78% $6,153
    UNION SQUARE 13 6.93% $7,546
    CARDINAL FINANCIAL 10 6.34% $10,060
    UNITED WHOLESALE MORTGAGE, LLC 8 5.70% $8,833
    First Bank 8 6.30% $7,061
    GUARANTEED RATE, INC. 7 6.92% $9,030
    CMG MORTGAGE, INC. 7 6.27% $11,894
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.40% $11,987
    Paramount Residential Mortgage Group, Inc. 6 6.23% $8,864
    THRIVE MORTGAGE, LLC 6 6.90% $7,536
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.33% $9,283
    MOVEMENT MORTGAGE, LLC 5 6.23% $9,182
    BROKER SOLUTIONS, INC. 5 6.73% $9,389
    GUILD MORTGAGE COMPANY 4 6.25% $9,347
    QUICKEN LOANS, LLC 4 6.09% $7,301
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.58% $2,467
    FREEDOM MORTGAGE CORPORATION 3 6.29% $15,181
    NBKC BANK 3 5.33% $11,093
    Armed Forces Bank 3 6.13% $9,174
    Mr. Cooper ( Nationstar Mortgage ) 3 6.17% $15,641
    PENTAGON FEDERAL CREDIT UNION 2 6.06% $19,883
    AXIA FINANCIAL, LLC 2 6.00% $13,355
    CROSSCOUNTRY MORTGAGE, LLC 2 6.00% $8,681
    Equity Prime Mortgage LLC 2 7.69% $6,697
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.00% $6,142
    Flagstar Bank, FSB 2 5.50% $16,856
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 5.41% $10,943
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $9,099
    Regions Bank 2 6.19% $9,272
    The Federal Savings Bank 2 6.69% $11,530
    UNION HOME MORTGAGE CORP. 2 6.13% $9,244
    NBH Bank 1 7.13% $1,078
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $8,304
    Network Funding, L.P. 1 7.63% $1,534
    Paramount Bank 1 7.50% $11,084
    EVERETT FINANCIAL, INC. 1 6.38% $19,558
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $5,679
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $11,490
    EMBRACE HOME LOANS, INC. 1 5.63% $6,034
    DAS Acquisition Company, LLC 1 6.75% $13,816
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $8,828
    SFMC, LP 1 6.38% $11,023
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.25% $10,094
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $3,650
    VAN DYK MORTGAGE CORPORATION 1 6.63% $5,872
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $9,202
    Wells Fargo Bank 1 6.63% $0
    Barrington Bank & Trust Company, N.A. 1 7.25% $3,539
    MORIA DEVELOPMENT, INC. 1 6.63% $13,195
    Mid-Continent Funding, Inc. 1 5.88% $9,898
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $14,999
    KeyBank 1 6.25% $13,381

    The top Wichita Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 89 VA loans originated. Their average total fees are $5,927, which is $2,530 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Wichita Falls VA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,264), Mortgage Research Center, LLC ($5,927), NAVY FEDERAL CREDIT UNION ($6,153), UNION SQUARE ($7,546) and American National Bank & Trust ($8,245).

    The lowest rate Wichita Falls VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.78%), USAA Federal Savings Bank (6.13%), American National Bank & Trust (6.18%), CARDINAL FINANCIAL (6.34%) and FLAT BRANCH MORTGAGE, INC. (6.47%).

    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.