Bellefontaine VA Loan Rates, Closing Costs & Stats

Bellefontaine, 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.

    Bellefontaine's 26 lenders originated 57 VA loans during 2023. The total origination value was $14,965,000, with an average VA loan value of $262,544.

    Bellefontaine VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bellefontaine averaged 6.72% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Bellefontaine's average VA mortgage closing costs are $5,423.

    The average rate for the prior week (2024-11-01) was 6.77% and one month ago for the week of 2024-10-04, the average rate was 6%.

    The average rate one year ago was 7.96%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Bellefontaine 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 Bellefontaine level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 14 6.70% $5,575
    QUICKEN LOANS, LLC 5 6.72% $8,534
    UNITED WHOLESALE MORTGAGE, LLC 3 6.41% $5,122
    The Huntington National Bank 3 6.96% $3,816
    FREEDOM MORTGAGE CORPORATION 2 6.31% $18,579
    Gateway First Bank 2 5.56% $8,963
    Barrington Bank & Trust Company, N.A. 2 6.88% $7,221
    NEW DAY FINANCIAL, LLC 2 8.12% $13,345
    CROSSCOUNTRY MORTGAGE, LLC 2 7.75% $9,986
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.62% $15,585
    Service Federal Credit Union 1 6.50% $1,488
    SUN WEST MORTGAGE COMPANY, INC. 1 6.84% $5,699
    The Federal Savings Bank 1 7.25% $18,219
    UNION HOME MORTGAGE CORP. 1 7.63% $10,562
    USAA Federal Savings Bank 1 6.50% $7,884
    Western Ohio Mortgage Corporation 1 6.88% $17,434
    WRIGHT-PATT CREDIT UNION, INC. 1 6.63% $3,008
    GSF Mortgage Corporation 1 6.13% $5,049
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.00% $17,529
    LOANDEPOT.COM, LLC 1 6.63% $8,438
    NAVY FEDERAL CREDIT UNION 1 5.38% $9,184
    NEWREZ LLC 1 7.25% $24,093
    ON Q FINANCIAL, INC. 1 7.13% $8,216
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,845
    RAPID MORTGAGE COMPANY 1 7.13% $11,440
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $10,143

    The top Bellefontaine VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $5,575, which is $2,959 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bellefontaine VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,575), .

    The lowest rate Bellefontaine VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.70%), .

    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.