Akron VA Loans

AKRON, OH

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.