Akron VA Loan Rates, Closing Costs & Stats

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 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.

    Akron's 79 lenders originated 553 VA loans during 2023. The total origination value was $130,725,000, with an average VA loan value of $236,392.

    Akron VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Akron averaged 6.43% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Akron's average VA mortgage closing costs are $5,592.

    The average rate for the prior week (2024-12-06) was 6.46% and one month ago for the week of 2024-11-08, the average rate was 6.56%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2024-12-13, the average rate was 7.03%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Akron level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 143 6.88% $5,516
    CROSSCOUNTRY MORTGAGE, LLC 57 6.92% $8,072
    QUICKEN LOANS, LLC 38 6.12% $11,190
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 6.89% $8,892
    UNITED WHOLESALE MORTGAGE, LLC 18 6.30% $11,257
    NAVY FEDERAL CREDIT UNION 18 5.97% $3,679
    NVR Mortgage Finance, Inc. 15 5.55% $6,940
    The Huntington National Bank 13 6.84% $6,157
    POLARIS HOME FUNDING CORP. 11 6.68% $10,757
    USAA Federal Savings Bank 11 6.11% $7,260
    PENNYMAC LOAN SERVICES, LLC 9 5.82% $5,180
    AMERICAN PACIFIC MORTGAGE CORPORATION 8 6.67% $6,258
    NEW DAY FINANCIAL, LLC 8 7.56% $11,164
    FREEDOM MORTGAGE CORPORATION 8 6.61% $16,296
    UNION HOME MORTGAGE CORP. 7 6.57% $7,404
    DRAPER AND KRAMER MORTGAGE CORP. 7 6.57% $12,002
    JPMorgan Chase Bank 6 6.48% $3,603
    LIBERTY HOME MORTGAGE CORPORATION 6 6.90% $5,465
    RUOFF MORTGAGE COMPANY, INC. 6 6.79% $6,667
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.95% $5,365
    GUARANTEED RATE, INC. 5 5.99% $3,672
    Mr. Cooper ( Nationstar Mortgage ) 4 6.06% $7,292
    VILLAGE CAPITAL MORTGAGE 4 5.53% $10,704
    Nations Lending Corporation 4 6.84% $9,668
    HOWARD HANNA FINANCIAL SERVICES, INC. 4 6.34% $8,316
    LOANDEPOT.COM, LLC 4 6.53% $11,928
    Fifth Third Bank 4 6.53% $2,701
    Barrington Bank & Trust Company, N.A. 3 5.42% $3,243
    Flagstar Bank, FSB 3 6.84% $6,157
    The Federal Savings Bank 3 7.21% $11,640
    GVC MORTGAGE, INC. 3 7.17% $7,852
    PULTE MORTGAGE LLC 3 5.42% $8,424
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.75% $6,572
    AMERISAVE MORTGAGE CORPORATION 2 5.94% $22,911
    Century Mortgage Company DBA Century Lending Company 2 7.00% $3,824
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 5.44% $3,481
    LEADERONE FINANCIAL CORPORATION 2 6.12% $5,725
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.38% $9,599
    Magnolia Bank 2 6.06% $16,458
    UNION CAPITAL MORTGAGE CORPORATION 2 6.75% $10,074
    RELIANCE FIRST CAPITAL, LLC 2 6.88% $7,251
    First Federal Bank of the Midwest 2 5.38% $4,735
    First Federal Bank 2 6.19% $15,024
    PREMIER LENDING, INC. 2 6.88% $6,648
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 6.94% $7,105
    YOUR HOME FINANCIAL LLC 2 7.00% $10,929
    The Union Bank Company 1 6.75% $8,962
    American Mortgage & Equity Consultants, Inc. 1 8.13% $14,454
    Armed Forces Bank 1 6.50% $12,026
    Bank of England 1 7.50% $9,314
    BAY EQUITY LLC 1 5.99% $10,252
    BROKER SOLUTIONS, INC. 1 7.13% $7,180
    CALIBER HOME LOANS, INC. 1 6.25% $5,910
    Citizens Bank 1 7.63% $8,078
    COMMUNITYAMERICA 1 6.63% $5,905
    DAS Acquisition Company, LLC 1 6.99% $11,443
    Farmers Bank & Trust 1 5.00% $12,219
    First Commonwealth Bank 1 6.25% $19,468
    FIRST EQUITY MORTGAGE INCORPORATED 1 5.99% $6,309
    GSF Mortgage Corporation 1 7.13% $21,992
    GUARANTEED RATE AFFINITY, LLC 1 6.63% $3,356
    HomePromise Corporation 1 6.25% $8,887
    HOMESIDE FINANCIAL, LLC 1 7.25% $1,152
    Ixonia Bank 1 7.38% $19,852
    MICHIGAN MUTUAL, INC. 1 7.63% $13,008
    MID AMERICA MORTGAGE, INC. 1 6.63% $2,497
    MYCUMORTGAGE, LLC 1 7.63% $5,312
    NATIONS DIRECT MORTGAGE, LLC 1 6.50% $4,083
    Northpointe Bank 1 6.75% $10,280
    ON Q FINANCIAL, INC. 1 6.50% $0
    Plains Commerce Bank 1 7.13% $5,680
    PLANET HOME LENDING, LLC 1 6.38% $12,822
    PLAZA HOME MORTGAGE, INC. 1 6.25% $2,937
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $6,928
    Prosperity Home Mortgage, LLC 1 6.88% $14,176
    American Midwest Mortgage Corporation 1 6.63% $5,473
    TOP FLITE FINANCIAL, INC. 1 6.63% $1,128
    Union Savings Bank 1 6.50% $3,864
    Wells Fargo Bank 1 5.88% $5,002

    The top Akron VA lender as defined by loan originations is Mortgage Research Center, LLC, with 143 VA loans originated. Their average total fees are $5,516, which is $2,556 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Akron VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,679), Mortgage Research Center, LLC ($5,516), The Huntington National Bank ($6,157), NVR Mortgage Finance, Inc. ($6,940) and USAA Federal Savings Bank ($7,260).

    The lowest rate Akron VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.55%), NAVY FEDERAL CREDIT UNION (5.97%), USAA Federal Savings Bank (6.11%), QUICKEN LOANS, LLC (6.12%) and UNITED WHOLESALE MORTGAGE, LLC (6.30%).

    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 $132,450 (5.0%) $213,127 (8.5%) 0.49 1,867
    2018-02-01 $133,800 (3.0%) $215,526 (7.0%) 0.49 1,844
    2018-03-01 $145,000 (5.1%) $229,294 (9.2%) 0.51 1,792
    2018-04-01 $149,950 (7.1%) $236,539 (9.6%) 0.51 1,770
    2018-05-01 $162,400 (16.0%) $243,967 (6.9%) 0.54 1,807
    2018-06-01 $169,900 (18.7%) $251,718 (9.6%) 0.57 1,920
    2018-07-01 $172,875 (16.0%) $253,010 (9.6%) 0.58 1,959
    2018-08-01 $165,725 (10.6%) $242,523 (6.5%) 0.56 2,098
    2018-09-01 $160,000 (8.1%) $239,124 (5.2%) 0.54 2,130
    2018-10-01 $159,900 (11.4%) $235,622 (7.2%) 0.54 2,104
    2018-11-01 $154,950 (10.7%) $236,054 (8.9%) 0.53 2,004
    2018-12-01 $152,000 (9.6%) $232,712 (8.8%) 0.52 1,789
    2019-01-01 $149,900 (13.2%) $234,131 (9.9%) 0.52 1,623
    2019-02-01 $152,775 (14.2%) $245,081 (13.7%) 0.52 1,480
    2019-03-01 $163,872 (13.0%) $252,014 (9.9%) 0.54 1,485
    2019-04-01 $169,125 (12.8%) $258,378 (9.2%) 0.54 1,493
    2019-05-01 $174,900 (7.7%) $254,801 (4.4%) 0.55 1,548
    2019-06-01 $179,000 (5.4%) $255,767 (1.6%) 0.56 1,692
    2019-07-01 $177,450 (2.7%) $256,523 (1.4%) 0.56 1,787
    2019-08-01 $172,200 (3.9%) $251,627 (3.8%) 0.55 1,816
    2019-09-01 $168,150 (5.1%) $246,166 (2.9%) 0.54 1,868
    2019-10-01 $165,000 (3.2%) $241,600 (2.5%) 0.53 1,938
    2019-11-01 $154,150 (-0.5%) $224,815 (-4.8%) 0.51 1,873
    2019-12-01 $149,900 (-1.4%) $216,795 (-6.8%) 0.50 1,705
    2020-01-01 $144,900 (-3.3%) $216,557 (-7.5%) 0.48 1,544
    2020-02-01 $149,900 (-1.9%) $225,280 (-8.1%) 0.49 1,388
    2020-03-01 $159,950 (-2.4%) $240,318 (-4.6%) 0.50 1,295
    2020-04-01 $167,200 (-1.1%) $246,488 (-4.6%) 0.52 1,261
    2020-05-01 $179,500 (2.6%) $255,278 (0.2%) 0.55 1,134
    2020-06-01 $189,450 (5.8%) $267,833 (4.7%) 0.56 1,062
    2020-07-01 $189,950 (7.0%) $271,112 (5.7%) 0.55 1,015
    2020-08-01 $189,900 (10.3%) $272,614 (8.3%) 0.54 923
    2020-09-01 $179,950 (7.0%) $270,789 (10.0%) 0.52 918
    2020-10-01 $179,900 (9.0%) $265,953 (10.1%) 0.52 927
    2020-11-01 $166,750 (8.2%) $253,511 (12.8%) 0.49 915
    2020-12-01 $158,500 (5.7%) $239,545 (10.5%) 0.47 792
    2021-01-01 $149,900 (3.5%) $229,439 (6.0%) 0.45 676
    2021-02-01 $153,850 (2.6%) $248,136 (10.2%) 0.45 523
    2021-03-01 $167,400 (4.7%) $256,752 (6.8%) 0.48 482
    2021-04-01 $179,925 (7.6%) $267,615 (8.6%) 0.49 478
    2021-05-01 $189,450 (5.5%) $272,707 (6.8%) 0.50 583
    2021-06-01 $187,450 (-1.1%) $272,231 (1.6%) 0.49 768
    2021-07-01 $189,900 (0.0%) $268,163 (-1.1%) 0.50 909
    2021-08-01 $183,950 (-3.1%) $279,379 (2.5%) 0.49 958
    2021-09-01 $179,450 (-0.3%) $274,373 (1.3%) 0.48 965
    2021-10-01 $175,000 (-2.7%) $265,176 (-0.3%) 0.47 975
    2021-11-01 $169,950 (1.9%) $264,925 (4.5%) 0.45 861
    2021-12-01 $157,400 (-0.7%) $254,561 (6.3%) 0.43 793
    2022-01-01 $149,250 (-0.4%) $254,363 (10.9%) 0.40 644
    2022-02-01 $155,000 (0.8%) $270,084 (8.9%) 0.40 489
    2022-03-01 $171,950 (2.7%) $283,749 (10.5%) 0.43 473
    2022-04-01 $179,900 (0.0%) $294,221 (9.9%) 0.43 559
    2022-05-01 $187,425 (-1.1%) $293,413 (7.6%) 0.43 654
    2022-06-01 $199,900 (6.6%) $298,113 (9.5%) 0.45 803
    2022-07-01 $199,900 (5.3%) $289,189 (7.8%) 0.45 964
    2022-08-01 $199,750 (8.6%) $278,782 (-0.2%) 0.46 966
    2022-09-01 $198,000 (10.3%) $278,249 (1.4%) 0.46 1,001
    2022-10-01 $189,000 (8.0%) $272,085 (2.6%) 0.44 1,085
    2022-11-01 $187,594 (10.4%) $266,783 (0.7%) 0.45 1,089
    2022-12-01 $179,999 (14.4%) $267,984 (5.3%) 0.44 929
    2023-01-01 $177,450 (18.9%) $264,340 (3.9%) 0.44 792
    2023-02-01 $180,450 (16.4%) $270,612 (0.2%) 0.44 656
    2023-03-01 $179,925 (4.6%) $274,974 (-3.1%) 0.42 612
    2023-04-01 $199,900 (11.1%) $290,906 (-1.1%) 0.46 578
    2023-05-01 $211,000 (12.6%) $298,760 (1.8%) 0.48 587
    2023-06-01 $225,500 (12.8%) $303,426 (1.8%) 0.51 685
    2023-07-01 $230,000 (15.1%) $314,740 (8.8%) 0.52 670
    2023-08-01 $232,475 (16.4%) $323,173 (15.9%) 0.53 763
    2023-09-01 $234,950 (18.7%) $326,310 (17.3%) 0.55 823
    2023-10-01 $229,925 (21.7%) $323,978 (19.1%) 0.54 900
    2023-11-01 $214,993 (14.6%) $316,819 (18.8%) 0.51 884
    2023-12-01 $214,995 (19.4%) $317,227 (18.4%) 0.52 786
    2024-01-01 $210,500 (18.6%) $322,223 (21.9%) 0.51 701
    2024-02-01 $207,823 (15.2%) $317,387 (17.3%) 0.50 639
    2024-03-01 $212,500 (18.1%) $324,680 (18.1%) 0.50 645
    2024-04-01 $228,750 (14.4%) $354,727 (21.9%) 0.53 594
    2024-05-01 $252,400 (19.6%) $388,180 (29.9%) 0.57 638
    2024-06-01 $259,950 (15.3%) $380,556 (25.4%) 0.58 717
    2024-07-01 $249,675 (8.6%) $362,925 (15.3%) 0.57 824
    2024-08-01 $244,900 (5.3%) $342,066 (5.9%) 0.57 927
    2024-09-01 $230,000 (-2.1%) $325,738 (-0.2%) 0.54 993
    2024-10-01 $228,200 (-0.8%) $318,672 (-1.6%) 0.54 1,105
    2024-11-01 $219,900 (2.3%) $303,387 (-4.2%) 0.53 1,152
    Akron's median listing price for 2024-11-01 was $219,900, a difference of $4,907 (2.3%) versus the prior year and $-8,300 versus the prior month.

    Akron's median listing price comes in at 53% of the national average.

    Akron's average listing price for 2024-11-01 was $303,387, a difference of $-13,432 (-4.2%) versus the prior year and $-15,285 versus the prior month.

    For the 2024-11-01 period, Akron had 1,152 MLS listings, a difference of 47 listings (4%) versus the prior month and 268 listings (30%) 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 75 days 1,538 sqft
    2018-02-01 68 days 1,548 sqft
    2018-03-01 56 days 1,589 sqft
    2018-04-01 49 days 1,606 sqft
    2018-05-01 47 days 1,666 sqft
    2018-06-01 45 days 1,698 sqft
    2018-07-01 50 days 1,869 sqft
    2018-08-01 48 days 1,800 sqft
    2018-09-01 53 days 1,788 sqft
    2018-10-01 57 days 1,781 sqft
    2018-11-01 59 days 1,738 sqft
    2018-12-01 67 days 1,722 sqft
    2019-01-01 75 days 1,681 sqft
    2019-02-01 72 days 1,707 sqft
    2019-03-01 55 days 1,728 sqft
    2019-04-01 44 days 1,747 sqft
    2019-05-01 42 days 1,703 sqft
    2019-06-01 43 days 1,725 sqft
    2019-07-01 47 days 1,742 sqft
    2019-08-01 51 days 1,733 sqft
    2019-09-01 53 days 1,729 sqft
    2019-10-01 54 days 1,726 sqft
    2019-11-01 61 days 1,679 sqft
    2019-12-01 70 days 1,634 sqft
    2020-01-01 80 days 1,619 sqft
    2020-02-01 77 days 1,645 sqft
    2020-03-01 58 days 1,708 sqft
    2020-04-01 54 days 1,714 sqft
    2020-05-01 72 days 1,750 sqft
    2020-06-01 55 days 1,820 sqft
    2020-07-01 45 days 1,825 sqft
    2020-08-01 48 days 1,800 sqft
    2020-09-01 51 days 1,767 sqft
    2020-10-01 46 days 1,750 sqft
    2020-11-01 50 days 1,658 sqft
    2020-12-01 57 days 1,578 sqft
    2021-01-01 60 days 1,536 sqft
    2021-02-01 50 days 1,559 sqft
    2021-03-01 36 days 1,595 sqft
    2021-04-01 32 days 1,659 sqft
    2021-05-01 26 days 1,702 sqft
    2021-06-01 24 days 1,707 sqft
    2021-07-01 29 days 1,692 sqft
    2021-08-01 31 days 1,657 sqft
    2021-09-01 37 days 1,634 sqft
    2021-10-01 39 days 1,616 sqft
    2021-11-01 42 days 1,623 sqft
    2021-12-01 45 days 1,564 sqft
    2022-01-01 50 days 1,538 sqft
    2022-02-01 46 days 1,547 sqft
    2022-03-01 35 days 1,575 sqft
    2022-04-01 25 days 1,590 sqft
    2022-05-01 28 days 1,636 sqft
    2022-06-01 28 days 1,668 sqft
    2022-07-01 31 days 1,680 sqft
    2022-08-01 36 days 1,670 sqft
    2022-09-01 36 days 1,652 sqft
    2022-10-01 36 days 1,641 sqft
    2022-11-01 39 days 1,665 sqft
    2022-12-01 49 days 1,624 sqft
    2023-01-01 56 days 1,608 sqft
    2023-02-01 48 days 1,621 sqft
    2023-03-01 38 days 1,584 sqft
    2023-04-01 36 days 1,671 sqft
    2023-05-01 36 days 1,686 sqft
    2023-06-01 33 days 1,693 sqft
    2023-07-01 34 days 1,747 sqft
    2023-08-01 32 days 1,743 sqft
    2023-09-01 36 days 1,731 sqft
    2023-10-01 36 days 1,728 sqft
    2023-11-01 38 days 1,705 sqft
    2023-12-01 44 days 1,685 sqft
    2024-01-01 53 days 1,669 sqft
    2024-02-01 41 days 1,626 sqft
    2024-03-01 38 days 1,674 sqft
    2024-04-01 36 days 1,807 sqft
    2024-05-01 23 days 1,844 sqft
    2024-06-01 25 days 1,824 sqft
    2024-07-01 32 days 1,770 sqft
    2024-08-01 33 days 1,777 sqft
    2024-09-01 36 days 1,710 sqft
    2024-10-01 36 days 1,677 sqft
    2024-11-01 40 days 1,652 sqft
    Akron's median listing age (time on market) for 2024-11-01 was 40 days. This is 7% longer than the same period one year ago.

    Akron's median square footage for active listings during the 2024-11-01 period was 1,652 sqft. One year prior, the average listing was 1,705 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.