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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.