Odessa VA Loan Rates, Closing Costs & Stats

ODESSA, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Odessa's 36 lenders originated 138 VA loans during 2024. The total origination value was $41,950,000, with an average VA loan value of $303,986.

    Odessa VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Odessa averaged 6.57% for the week of 2025-07-18, compared to the national average (all VA variants) of 6.385% for the same period.

    Odessa's average VA mortgage closing costs are $6,797.

    The average rate for the prior week (2025-07-11) was 6.65% and one month ago for the week of 2025-06-13, the average rate was 6.83%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.75%.

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

    Odessa 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 Odessa level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 36 6.68% $6,584
    DHI MORTGAGE COMPANY, LTD. 25 5.27% $6,992
    UNITED WHOLESALE MORTGAGE, LLC 13 6.10% $11,150
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 6.69% $10,738
    FREEDOM MORTGAGE CORPORATION 6 6.06% $6,031
    QUICKEN LOANS, LLC 4 6.09% $8,989
    VILLAGE CAPITAL MORTGAGE 4 5.72% $7,373
    GUARANTEED RATE, INC. 2 6.44% $6,631
    USAA Federal Savings Bank 2 6.13% $8,732
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.00% $9,661
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.25% $5,786
    DIRECTIONS EQUITY, LLC 2 6.31% $6,294
    PENNYMAC LOAN SERVICES, LLC 2 5.13% $5,205
    FLAT BRANCH MORTGAGE, INC. 2 6.19% $14,900
    NAVY FEDERAL CREDIT UNION 1 6.25% $12,982
    PREMIA MORTGAGE, LLC 1 5.99% $21,441
    SFMC, LP 1 6.13% $9,732
    Strong Home Mortgage, LLC 1 6.38% $14,834
    TEXAS TECH 1 6.75% $4,531
    U.S. Bank 1 6.13% $18,306
    Waterstone Mortgage Corporation 1 7.13% $7,551
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.99% $9,641
    Wells Fargo Bank 1 6.63% $4,468
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $18,632
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.25% $24,344
    Barrington Bank & Trust Company, N.A. 1 6.25% $15,377
    CARDINAL FINANCIAL 1 6.63% $17,038
    CLEARPATH LENDING 1 5.00% $2,159
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $4,793
    EVERETT FINANCIAL, INC. 1 7.13% $6,540
    FBC MORTGAGE, LLC 1 6.25% $24,961
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $9,011
    Home Mortgage Alliance Corp 1 6.25% $16,418
    LAKEVIEW LOAN SERVICING, LLC 1 4.99% $7,623
    LOANDEPOT.COM, LLC 1 6.25% $10,843
    Nations Lending Corporation 1 7.75% $6,585

    The top Odessa VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $6,584, which is $408 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Odessa VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,584), DHI MORTGAGE COMPANY, LTD. ($6,992), UNITED WHOLESALE MORTGAGE, LLC ($11,150), .

    The lowest rate Odessa VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.27%), UNITED WHOLESALE MORTGAGE, LLC (6.10%), Mortgage Research Center, LLC (6.68%), .

    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.