Akron VA Loans

AKRON, OH

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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 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.

    Akron's 129 lenders originated 1,597 VA loans during 2021. The total origination value was $337,105,000, with an average VA loan value of $211,086.

    Akron VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Akron averaged 5.66% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.49% and one month ago for the week of 2022-04-08, the average rate was 5.01%.

    The average rate one year ago was 3.33%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.5%.

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

    Akron VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Akron level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 192 2.54% $4,842
    Mortgage Research Center, LLC 162 2.89% $4,726
    CROSSCOUNTRY MORTGAGE, LLC 95 2.94% $6,672
    FREEDOM MORTGAGE CORPORATION 83 2.51% $2,551
    NEW DAY FINANCIAL, LLC 61 2.82% $6,361
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 56 2.88% $7,032
    NAVY FEDERAL CREDIT UNION 50 2.51% $5,953
    PENNYMAC LOAN SERVICES, LLC 49 2.48% $4,872
    NVR Mortgage Finance, Inc. 40 2.82% $6,552
    USAA Federal Savings Bank 31 2.81% $4,242
    VILLAGE CAPITAL & INVESTMENT LLC 26 2.31% $3,394
    LAKEVIEW LOAN SERVICING, LLC 26 2.60% $2,610
    The Huntington National Bank 24 3.09% $4,620
    LOANDEPOT.COM, LLC 23 2.79% $4,777
    UNITED WHOLESALE MORTGAGE, LLC 22 2.49% $7,079
    Mr. Cooper ( Nationstar Mortgage ) 22 2.94% $3,060
    CLEARPATH LENDING 21 2.35% $4,370
    UNION HOME MORTGAGE CORP. 21 2.80% $4,669
    HOME POINT FINANCIAL CORPORATION 16 2.58% $4,384
    RUOFF MORTGAGE COMPANY, INC. 16 3.12% $4,731
    The Federal Savings Bank 15 2.64% $10,902
    CALIBER HOME LOANS, INC. 15 2.76% $4,867
    NEWREZ LLC 12 2.76% $4,622
    HOWARD HANNA FINANCIAL SERVICES, INC. 12 2.82% $9,077
    Citizens Bank 11 2.58% $4,532
    Barrington Bank & Trust Company, N.A. 11 2.59% $3,757
    PENTAGON FEDERAL CREDIT UNION 11 2.31% $3,265
    First Guaranty Mortgage Corporation 10 2.48% $4,488
    American Midwest Mortgage Corporation 10 2.99% $7,768
    Nations Lending Corporation 10 2.80% $5,471
    LIBERTY HOME MORTGAGE CORPORATION 10 3.05% $5,946
    GUARANTEED RATE, INC. 9 2.78% $5,676
    InterContinental Capital Group, Inc 9 2.46% $3,329
    Wells Fargo Bank 9 2.54% $5,294
    Low VA Rates, LLC 9 2.32% $3,451
    PULTE MORTGAGE LLC 8 2.47% $7,844
    POLARIS HOME FUNDING CORP. 8 3.05% $10,343
    AMERISAVE MORTGAGE CORPORATION 6 2.88% $4,747
    AMERICAN FINANCIAL NETWORK, INC. 6 2.44% $9,594
    UNION CAPITAL MORTGAGE CORPORATION 6 2.88% $5,998
    First Federal Bank 5 3.45% $7,594
    Paramount Residential Mortgage Group, Inc. 5 3.28% $5,742
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.35% $8,881
    Magnolia Bank 5 2.60% $4,109
    SUN WEST MORTGAGE COMPANY, INC. 4 2.47% $2,603
    The Cortland Savings and Banking Company 4 2.91% $5,253
    SIGNATURE MORTGAGE CORPORATION 4 2.47% $6,261
    Fifth Third Bank 4 2.84% $5,220
    PLANET HOME LENDING, LLC 4 2.44% $2,839
    Lakeview Community Capital, LLC 4 2.66% $2,288
    YOUR HOME FINANCIAL LLC 3 3.41% $11,455
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.63% $6,057
    Carrington Mortgage Services, LLC 3 2.58% $3,545
    CHURCHILL MORTGAGE CORPORATION 3 2.79% $4,658
    FIRST EQUITY MORTGAGE INCORPORATED 3 2.79% $12,592
    First Federal Bank of the Midwest 3 2.25% $7,180
    KeyBank 3 2.75% $4,755
    NFM, INC. 3 3.21% $3,443
    RELIANCE FIRST CAPITAL, LLC 3 3.08% $7,456
    Seven Seventeen Credit Union 3 3.13% $3,869
    TOP FLITE FINANCIAL, INC. 3 3.50% $8,561
    U.S. Bank 3 2.75% $4,603
    Goldwater Bank, N.A. 2 3.19% $2,407
    Manufacturers and Traders Trust Company 2 2.50% $2,960
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 2.50% $12,674
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.75% $6,531
    NBKC BANK 2 2.50% $2,558
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.63% $5,981
    AMERIFIRST FINANCIAL CORPORATION 2 3.50% $10,983
    Flagstar Bank, FSB 2 2.94% $10,144
    First Savings Bank 2 2.81% $6,525
    First Home Bank 2 2.56% $1,343
    First Federal Savings and Loan Association of Lakewood 2 2.75% $5,069
    FINANCE OF AMERICA MORTGAGE LLC 2 2.31% $2,734
    PNC Bank 2 3.00% $5,140
    EQUITY RESOURCES, INC. 2 2.31% $2,779
    RAPID MORTGAGE COMPANY 2 2.88% $5,582
    Waterstone Mortgage Corporation 2 3.25% $7,625
    DRAPER AND KRAMER MORTGAGE CORP. 2 3.06% $9,800
    Dollar Bank, Federal Savings Bank 2 2.87% $2,169
    The Farmers National Bank of Canfield 2 3.13% $3,371
    CMG MORTGAGE, INC. 2 3.13% $2,631
    NP, Inc. 1 2.75% $2,717
    CityWorth Mortgage LLC 1 2.25% $3,179
    Paramount Bank 1 2.75% $2,779
    TJC Mortgage, Inc. 1 2.63% $19,706
    Wyndham Capital Mortgage, Inc. 1 2.50% $1,859
    BROKER SOLUTIONS, INC. 1 2.50% $5,489
    Peoples Bank 1 3.75% $8,620
    PHH Mortgage Corporation 1 2.88% $10,073
    BOKF 1 2.50% $3,723
    BELEM SERVICING LLC 1 2.63% $1,932
    EVERETT FINANCIAL, INC. 1 3.00% $2,312
    PREMIA MORTGAGE, LLC 1 2.75% $447
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $3,471
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $14,455
    Equity Prime Mortgage LLC 1 3.25% $1,195
    EMBRACE HOME LOANS, INC. 1 2.25% $1,615
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $4,286
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 2.88% $11,687
    Renasant Bank 1 2.50% $8,962
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.25% $4,294
    ROSS MORTGAGE CORPORATION 1 2.50% $2,490
    ROYAL UNITED MORTGAGE LLC 1 3.25% $4,929
    East Coast Capital Corp. 1 2.38% $6,796
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $2,413
    Sierra Pacific Mortgage Company, Inc. 1 2.75% $4,145
    KELLER MORTGAGE, LLC 1 2.88% $6,272
    SIRVA MORTGAGE, INC. 1 2.38% $3,016
    Strong Home Mortgage, LLC 1 2.25% $1,468
    INTERCAP LENDING INC. 1 2.25% $2,262
    Independent Bank 1 2.75% $17,383
    HOMESIDE FINANCIAL, LLC 1 2.25% $2,475
    JPMorgan Chase Bank 1 3.38% $8,910
    MID AMERICA MORTGAGE, INC. 1 2.25% $5,729
    Mid-Continent Funding, Inc. 1 2.88% $4,511
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.38% $12,617
    T2 FINANCIAL LLC 1 2.25% $2,366
    HALLMARK HOME MORTGAGE, LLC 1 3.00% $9,673
    TCF National Bank 1 2.50% $1,900
    MYCUMORTGAGE, LLC 1 2.88% $4,840
    NATIONS DIRECT MORTGAGE, LLC 1 2.50% $7,361
    GUILD MORTGAGE COMPANY 1 2.88% $11,232
    GUARANTEED RATE AFFINITY, LLC 1 2.25% $1,680
    DAS Acquisition Company, LLC 1 2.50% $1,453
    Ixonia Bank 1 3.25% $3,945
    LEADERONE FINANCIAL CORPORATION 1 2.75% $4,189
    LENDUS, LLC 1 2.25% $1,755
    Northpointe Bank 1 2.25% $4,450

    The top Akron VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 192 VA loans originated. Their average total fees are $4,842, which is $117 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Akron VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,551), LAKEVIEW LOAN SERVICING, LLC ($2,610), Mr. Cooper ( Nationstar Mortgage ) ($3,060), PENTAGON FEDERAL CREDIT UNION ($3,265) and VILLAGE CAPITAL & INVESTMENT LLC ($3,394).

    The lowest rate Akron VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (2.31%), VILLAGE CAPITAL & INVESTMENT LLC (2.31%), CLEARPATH LENDING (2.35%), First Guaranty Mortgage Corporation (2.48%) and PENNYMAC LOAN SERVICES, LLC (2.48%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Akron (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 $134,950 (5.0%) $214,967 (9.3%) 0.50 1,891
    2018-02-01 $134,950 (3.1%) $218,914 (7.8%) 0.49 1,868
    2018-03-01 $149,900 (7.5%) $232,013 (9.6%) 0.52 1,810
    2018-04-01 $154,950 (7.6%) $238,617 (9.8%) 0.52 1,780
    2018-05-01 $166,450 (16.9%) $246,015 (7.4%) 0.56 1,826
    2018-06-01 $174,900 (18.0%) $253,984 (9.9%) 0.58 1,938
    2018-07-01 $175,950 (17.4%) $254,442 (9.6%) 0.59 1,975
    2018-08-01 $169,450 (12.8%) $243,800 (6.6%) 0.57 2,115
    2018-09-01 $162,000 (8.1%) $239,435 (4.9%) 0.54 2,156
    2018-10-01 $159,950 (10.3%) $235,557 (6.8%) 0.53 2,119
    2018-11-01 $156,250 (9.1%) $236,144 (8.8%) 0.52 2,025
    2018-12-01 $154,900 (10.7%) $232,947 (8.4%) 0.53 1,802
    2019-01-01 $150,900 (11.8%) $233,749 (8.7%) 0.52 1,635
    2019-02-01 $156,700 (16.1%) $245,050 (11.9%) 0.53 1,499
    2019-03-01 $164,186 (9.5%) $252,597 (8.9%) 0.54 1,485
    2019-04-01 $169,450 (9.4%) $259,445 (8.7%) 0.53 1,487
    2019-05-01 $174,950 (5.1%) $255,674 (3.9%) 0.54 1,548
    2019-06-01 $179,900 (2.9%) $256,544 (1.0%) 0.55 1,683
    2019-07-01 $177,500 (0.9%) $257,450 (1.2%) 0.55 1,777
    2019-08-01 $170,657 (0.7%) $249,949 (2.5%) 0.54 1,798
    2019-09-01 $165,707 (2.3%) $241,530 (0.9%) 0.53 1,839
    2019-10-01 $166,450 (4.1%) $239,566 (1.7%) 0.53 1,965
    2019-11-01 $157,500 (0.8%) $225,805 (-4.4%) 0.51 1,876
    2019-12-01 $149,450 (-3.5%) $221,095 (-5.1%) 0.50 1,714
    2020-01-01 $146,450 (-3.0%) $223,605 (-4.3%) 0.49 1,550
    2020-02-01 $150,000 (-4.3%) $229,959 (-6.2%) 0.48 1,391
    2020-03-01 $164,950 (0.5%) $246,111 (-2.6%) 0.52 1,281
    2020-04-01 $169,900 (0.3%) $248,420 (-4.3%) 0.53 1,251
    2020-05-01 $189,000 (8.0%) $266,499 (4.2%) 0.57 1,131
    2020-06-01 $195,750 (8.8%) $277,287 (8.1%) 0.57 1,050
    2020-07-01 $191,900 (8.1%) $272,828 (6.0%) 0.55 990
    2020-08-01 $189,900 (11.3%) $280,396 (12.2%) 0.54 906
    2020-09-01 $181,450 (9.5%) $281,663 (16.6%) 0.52 900
    2020-10-01 $180,000 (8.1%) $278,187 (16.1%) 0.51 918
    2020-11-01 $160,000 (1.6%) $257,636 (14.1%) 0.46 896
    2020-12-01 $154,900 (3.7%) $247,358 (11.9%) 0.45 790
    2021-01-01 $149,900 (2.4%) $232,324 (3.9%) 0.44 673
    2021-02-01 $157,121 (4.8%) $259,042 (12.7%) 0.45 515
    2021-03-01 $169,900 (3.0%) $261,939 (6.4%) 0.48 466
    2021-04-01 $180,000 (5.9%) $270,610 (8.9%) 0.48 453
    2021-05-01 $189,900 (0.5%) $276,760 (3.9%) 0.50 565
    2021-06-01 $192,400 (-1.7%) $274,452 (-1.0%) 0.50 759
    2021-07-01 $187,450 (-2.3%) $270,104 (-1.0%) 0.49 878
    2021-08-01 $184,500 (-2.8%) $279,878 (-0.2%) 0.48 934
    2021-09-01 $179,900 (-0.9%) $276,191 (-1.9%) 0.47 944
    2021-10-01 $179,900 (-0.1%) $266,915 (-4.1%) 0.47 954
    2021-11-01 $170,000 (6.3%) $266,814 (3.6%) 0.45 847
    2021-12-01 $157,400 (1.6%) $256,640 (3.8%) 0.42 777
    2022-01-01 $149,500 (-0.3%) $255,918 (10.2%) 0.40 641
    2022-02-01 $155,000 (-1.4%) $273,031 (5.4%) 0.40 478
    2022-03-01 $172,375 (1.5%) $289,092 (10.4%) 0.43 461
    2022-04-01 $179,900 (-0.1%) $297,779 (10.0%) 0.42 540
    Akron's median listing price for 2022-04-01 was $179,900, a difference of $-100 (-0.1%) versus the prior year and $7,525 versus the prior month.

    Akron's median listing price comes in at 42% of the national average.

    Akron's average listing price for 2022-04-01 was $297,779, a difference of $27,169 (10.0%) versus the prior year and $8,687 versus the prior month.

    For the 2022-04-01 period, Akron had 540 MLS listings, a difference of 79 listings (17%) versus the prior month and 87 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Akron (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 1,564 sqft
    2018-02-01 70 days 1,572 sqft
    2018-03-01 58 days 1,613 sqft
    2018-04-01 51 days 1,632 sqft
    2018-05-01 48 days 1,693 sqft
    2018-06-01 46 days 1,732 sqft
    2018-07-01 50 days 1,920 sqft
    2018-08-01 49 days 1,851 sqft
    2018-09-01 53 days 1,823 sqft
    2018-10-01 58 days 1,816 sqft
    2018-11-01 61 days 1,782 sqft
    2018-12-01 68 days 1,752 sqft
    2019-01-01 76 days 1,708 sqft
    2019-02-01 74 days 1,728 sqft
    2019-03-01 57 days 1,759 sqft
    2019-04-01 45 days 1,795 sqft
    2019-05-01 43 days 1,744 sqft
    2019-06-01 43 days 1,762 sqft
    2019-07-01 48 days 1,784 sqft
    2019-08-01 49 days 1,785 sqft
    2019-09-01 50 days 1,797 sqft
    2019-10-01 53 days 1,763 sqft
    2019-11-01 53 days 1,716 sqft
    2019-12-01 61 days 1,650 sqft
    2020-01-01 73 days 1,643 sqft
    2020-02-01 66 days 1,668 sqft
    2020-03-01 51 days 1,717 sqft
    2020-04-01 56 days 1,734 sqft
    2020-05-01 63 days 1,823 sqft
    2020-06-01 44 days 1,861 sqft
    2020-07-01 40 days 1,825 sqft
    2020-08-01 44 days 1,800 sqft
    2020-09-01 35 days 1,782 sqft
    2020-10-01 34 days 1,763 sqft
    2020-11-01 37 days 1,600 sqft
    2020-12-01 45 days 1,574 sqft
    2021-01-01 55 days 1,538 sqft
    2021-02-01 50 days 1,572 sqft
    2021-03-01 41 days 1,614 sqft
    2021-04-01 37 days 1,672 sqft
    2021-05-01 29 days 1,723 sqft
    2021-06-01 27 days 1,725 sqft
    2021-07-01 30 days 1,707 sqft
    2021-08-01 32 days 1,676 sqft
    2021-09-01 37 days 1,649 sqft
    2021-10-01 41 days 1,634 sqft
    2021-11-01 43 days 1,628 sqft
    2021-12-01 46 days 1,574 sqft
    2022-01-01 52 days 1,538 sqft
    2022-02-01 50 days 1,548 sqft
    2022-03-01 40 days 1,573 sqft
    2022-04-01 31 days 1,584 sqft
    Akron's median listing age (time on market) for 2022-04-01 was 31 days. This is -16% shorter than the same period one year ago.

    Akron's median square footage for active listings during the 2022-04-01 period was 1,584 sqft. One year prior, the average listing was 1,672 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.