Canton VA Loans

CANTON-MASSILLON, 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.

    Canton's 102 lenders originated 1,049 VA loans during 2021. The total origination value was $203,185,000, with an average VA loan value of $193,694.

    Canton VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Canton averaged 5.69% 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 5.82% and one month ago for the week of 2022-04-08, the average rate was 5.34%.

    The average rate one year ago was 3.26%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.46%.

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

    Canton 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 Canton level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 114 2.92% $4,485
    QUICKEN LOANS, LLC 114 2.53% $5,145
    FREEDOM MORTGAGE CORPORATION 64 2.52% $2,224
    CROSSCOUNTRY MORTGAGE, LLC 55 3.11% $5,722
    PENNYMAC LOAN SERVICES, LLC 36 2.54% $5,396
    The Huntington National Bank 32 3.06% $3,500
    NEW DAY FINANCIAL, LLC 28 2.97% $8,596
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 2.93% $6,360
    NAVY FEDERAL CREDIT UNION 26 2.52% $4,768
    NVR Mortgage Finance, Inc. 24 2.74% $6,632
    VILLAGE CAPITAL & INVESTMENT LLC 21 2.61% $2,584
    LOANDEPOT.COM, LLC 21 2.77% $5,754
    USAA Federal Savings Bank 20 2.89% $3,242
    UNION HOME MORTGAGE CORP. 20 2.93% $6,196
    Nations Lending Corporation 15 3.00% $4,345
    NEWREZ LLC 15 2.86% $7,106
    LAKEVIEW LOAN SERVICING, LLC 13 2.53% $2,419
    CALIBER HOME LOANS, INC. 13 2.52% $2,818
    CLEARPATH LENDING 13 2.32% $4,717
    SIGNATURE MORTGAGE CORPORATION 12 2.96% $6,144
    UNITED WHOLESALE MORTGAGE, LLC 12 2.49% $5,422
    Low VA Rates, LLC 10 2.30% $3,427
    POLARIS HOME FUNDING CORP. 9 3.04% $8,313
    The Federal Savings Bank 9 2.63% $5,263
    HOME POINT FINANCIAL CORPORATION 8 2.52% $2,768
    Barrington Bank & Trust Company, N.A. 8 2.83% $3,089
    PNC Bank 7 2.79% $5,024
    Citizens Bank 7 2.61% $5,208
    RESIDENTIAL BANCORP. 6 3.19% $7,349
    RUOFF MORTGAGE COMPANY, INC. 6 3.17% $6,040
    Mr. Cooper ( Nationstar Mortgage ) 6 3.15% $2,029
    First Commonwealth Bank 5 2.45% $7,340
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.35% $2,611
    CMG MORTGAGE, INC. 5 3.05% $7,289
    PLANET HOME LENDING, LLC 5 2.48% $2,243
    PENTAGON FEDERAL CREDIT UNION 5 2.53% $4,401
    MID AMERICA MORTGAGE, INC. 4 2.91% $3,257
    AMERISAVE MORTGAGE CORPORATION 4 3.06% $4,743
    HOWARD HANNA FINANCIAL SERVICES, INC. 4 2.44% $7,318
    HALLMARK HOME MORTGAGE, LLC 4 3.63% $6,487
    LIBERTY HOME MORTGAGE CORPORATION 4 3.00% $8,628
    Seven Seventeen Credit Union 4 3.22% $3,710
    Wells Fargo Bank 4 2.44% $3,130
    GUARANTEED RATE, INC. 4 2.66% $6,923
    Flagstar Bank, FSB 3 3.33% $8,942
    The Cortland Savings and Banking Company 3 3.21% $3,818
    BROKER SOLUTIONS, INC. 3 2.88% $4,049
    MOVEMENT MORTGAGE, LLC 3 3.21% $5,198
    Carrington Mortgage Services, LLC 3 3.58% $3,166
    Ixonia Bank 2 2.75% $6,965
    InterContinental Capital Group, Inc 2 2.38% $3,619
    AMERICAN FINANCING CORPORATION 2 2.75% $3,481
    Fifth Third Bank 2 2.94% $2,395
    HOMESIDE FINANCIAL, LLC 2 2.37% $11,641
    Wyndham Capital Mortgage, Inc. 2 2.38% $5,343
    TOP FLITE FINANCIAL, INC. 2 3.81% $6,984
    AMCAP MORTGAGE, LTD. 2 3.13% $4,336
    T2 FINANCIAL LLC 2 3.25% $3,603
    NP, Inc. 2 2.25% $2,808
    RELIANCE FIRST CAPITAL, LLC 2 2.75% $4,450
    North American Savings Bank, F.S.B. 2 2.56% $7,723
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.12% $3,034
    Paramount Residential Mortgage Group, Inc. 2 3.12% $6,982
    EQUITY RESOURCES, INC. 2 2.31% $10,584
    KeyBank 2 2.69% $5,202
    THE EQUITABLE MORTGAGE CORPORATION 1 2.63% $3,451
    AMERICAN FINANCIAL NETWORK, INC. 1 2.75% $7,457
    American Midwest Mortgage Corporation 1 2.75% $5,921
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.50% $9,145
    Amerifirst Financial, Inc. 1 2.88% $525
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.13% $4,299
    Capital Bank 1 2.25% $3,367
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.63% $3,918
    Community First National Bank 1 3.25% $3,935
    Dollar Bank, Federal Savings Bank 1 3.00% $7,516
    Equity Prime Mortgage LLC 1 3.25% $2,745
    FirstBank 1 3.00% $1,332
    First Federal Bank 1 2.88% $3,638
    First Federal Savings and Loan Association of Lakewood 1 2.25% $3,311
    First Guaranty Mortgage Corporation 1 2.75% $3,049
    First Savings Bank 1 3.75% $6,713
    Goldwater Bank, N.A. 1 2.38% $8,222
    Independent Bank 1 2.88% $2,767
    JPMorgan Chase Bank 1 3.13% $7,304
    KELLER MORTGAGE, LLC 1 2.88% $2,884
    LEADERONE FINANCIAL CORPORATION 1 3.25% $2,456
    LENDUS, LLC 1 3.50% $11,676
    Magnolia Bank 1 4.25% $5,170
    Manufacturers and Traders Trust Company 1 2.88% $5,575
    MICHIGAN MUTUAL, INC. 1 3.25% $2,396
    Mid-Continent Funding, Inc. 1 2.75% $8,061
    MIDLAND MORTGAGE CORPORATION 1 2.75% $2,976
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $12,364
    MYCUMORTGAGE, LLC 1 2.88% $2,301
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $5,531
    NBKC BANK 1 2.50% $9,200
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $1,822
    RAPID MORTGAGE COMPANY 1 3.25% $3,793
    Republic State Mortgage Co. 1 2.50% $2,339
    TJC Mortgage, Inc. 1 2.25% $1,945
    Truist Bank 1 2.75% $485
    WEST PENN FINANCIAL SERVICE CENTER, INC. 1 2.88% $6,200

    The top Canton VA lender as defined by loan originations is Mortgage Research Center, LLC, with 114 VA loans originated. Their average total fees are $4,485, which is $660 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Canton VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,224), LAKEVIEW LOAN SERVICING, LLC ($2,419), VILLAGE CAPITAL & INVESTMENT LLC ($2,584), CALIBER HOME LOANS, INC. ($2,818) and USAA Federal Savings Bank ($3,242).

    The lowest rate Canton VA lenders (with over 10 loans originated) are Low VA Rates, LLC (2.30%), CLEARPATH LENDING (2.32%), UNITED WHOLESALE MORTGAGE, LLC (2.49%), CALIBER HOME LOANS, INC. (2.52%) and NAVY FEDERAL CREDIT UNION (2.52%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Canton (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 $130,900 (4.8%) $181,645 (3.0%) 0.48 900
    2018-02-01 $129,450 (1.8%) $185,411 (-0.3%) 0.47 855
    2018-03-01 $138,000 (4.2%) $194,885 (2.5%) 0.48 813
    2018-04-01 $142,245 (9.5%) $205,099 (9.2%) 0.48 790
    2018-05-01 $149,900 (10.0%) $207,006 (4.5%) 0.50 797
    2018-06-01 $150,000 (7.2%) $208,982 (3.1%) 0.50 885
    2018-07-01 $155,000 (11.5%) $214,772 (9.4%) 0.52 941
    2018-08-01 $157,495 (12.9%) $212,485 (7.9%) 0.53 1,023
    2018-09-01 $156,900 (12.2%) $214,057 (11.1%) 0.52 1,040
    2018-10-01 $149,450 (6.8%) $211,268 (12.0%) 0.50 1,055
    2018-11-01 $146,250 (5.1%) $208,460 (11.0%) 0.49 1,039
    2018-12-01 $144,000 (6.8%) $207,325 (12.2%) 0.49 980
    2019-01-01 $144,000 (10.0%) $207,746 (14.4%) 0.50 865
    2019-02-01 $143,250 (10.7%) $209,090 (12.8%) 0.48 837
    2019-03-01 $158,086 (14.6%) $221,692 (13.8%) 0.52 761
    2019-04-01 $171,450 (20.5%) $232,856 (13.5%) 0.54 737
    2019-05-01 $168,700 (12.5%) $226,680 (9.5%) 0.52 784
    2019-06-01 $169,900 (13.3%) $225,107 (7.7%) 0.52 826
    2019-07-01 $162,000 (4.5%) $217,077 (1.1%) 0.50 910
    2019-08-01 $163,243 (3.7%) $216,321 (1.8%) 0.51 924
    2019-09-01 $164,900 (5.1%) $213,397 (-0.3%) 0.52 922
    2019-10-01 $160,945 (7.7%) $205,987 (-2.5%) 0.51 1,023
    2019-11-01 $160,000 (9.4%) $209,544 (0.5%) 0.52 1,023
    2019-12-01 $159,900 (11.0%) $204,517 (-1.4%) 0.53 922
    2020-01-01 $158,500 (10.1%) $201,512 (-3.0%) 0.53 827
    2020-02-01 $159,900 (11.6%) $215,544 (3.1%) 0.52 748
    2020-03-01 $174,450 (10.4%) $223,067 (0.6%) 0.55 675
    2020-04-01 $179,950 (5.0%) $226,554 (-2.7%) 0.56 670
    2020-05-01 $189,900 (12.6%) $245,576 (8.3%) 0.58 622
    2020-06-01 $196,950 (15.9%) $253,480 (12.6%) 0.58 537
    2020-07-01 $192,200 (18.6%) $245,874 (13.3%) 0.55 530
    2020-08-01 $179,900 (10.2%) $240,222 (11.1%) 0.51 511
    2020-09-01 $182,450 (10.6%) $252,623 (18.4%) 0.52 494
    2020-10-01 $164,900 (2.5%) $266,727 (29.5%) 0.47 524
    2020-11-01 $167,450 (4.7%) $291,028 (38.9%) 0.48 496
    2020-12-01 $159,900 (0.0%) $281,922 (37.9%) 0.47 491
    2021-01-01 $168,500 (6.3%) $282,893 (40.4%) 0.50 416
    2021-02-01 $187,400 (17.2%) $297,324 (37.9%) 0.54 308
    2021-03-01 $185,900 (6.6%) $289,135 (29.6%) 0.52 290
    2021-04-01 $179,900 (0.0%) $284,374 (25.5%) 0.48 272
    2021-05-01 $190,000 (0.1%) $276,924 (12.8%) 0.50 337
    2021-06-01 $193,750 (-1.6%) $256,655 (1.3%) 0.50 397
    2021-07-01 $195,500 (1.7%) $257,861 (4.9%) 0.51 461
    2021-08-01 $184,900 (2.8%) $248,804 (3.6%) 0.49 464
    2021-09-01 $194,450 (6.6%) $249,867 (-1.1%) 0.51 495
    2021-10-01 $179,900 (9.1%) $240,472 (-9.8%) 0.47 514
    2021-11-01 $176,950 (5.7%) $239,391 (-17.7%) 0.47 448
    2021-12-01 $168,900 (5.6%) $226,824 (-19.5%) 0.45 392
    2022-01-01 $172,900 (2.6%) $237,739 (-16.0%) 0.46 301
    2022-02-01 $172,900 (-7.7%) $231,436 (-22.2%) 0.44 272
    2022-03-01 $172,400 (-7.3%) $232,267 (-19.7%) 0.43 250
    2022-04-01 $169,900 (-5.6%) $254,511 (-10.5%) 0.40 245
    Canton's median listing price for 2022-04-01 was $169,900, a difference of $-10,000 (-5.6%) versus the prior year and $-2,500 versus the prior month.

    Canton's median listing price comes in at 40% of the national average.

    Canton's average listing price for 2022-04-01 was $254,511, a difference of $-29,863 (-10.5%) versus the prior year and $22,244 versus the prior month.

    For the 2022-04-01 period, Canton had 245 MLS listings, a difference of -5 listings (-2%) versus the prior month and -27 listings (-10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Canton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 66 days 1,590 sqft
    2018-02-01 62 days 1,584 sqft
    2018-03-01 49 days 1,665 sqft
    2018-04-01 43 days 1,680 sqft
    2018-05-01 44 days 1,705 sqft
    2018-06-01 43 days 1,724 sqft
    2018-07-01 41 days 1,825 sqft
    2018-08-01 40 days 1,838 sqft
    2018-09-01 43 days 1,828 sqft
    2018-10-01 48 days 1,799 sqft
    2018-11-01 48 days 1,758 sqft
    2018-12-01 58 days 1,748 sqft
    2019-01-01 65 days 1,721 sqft
    2019-02-01 49 days 1,754 sqft
    2019-03-01 50 days 1,801 sqft
    2019-04-01 38 days 1,853 sqft
    2019-05-01 35 days 1,723 sqft
    2019-06-01 39 days 1,733 sqft
    2019-07-01 41 days 1,717 sqft
    2019-08-01 41 days 1,757 sqft
    2019-09-01 42 days 1,802 sqft
    2019-10-01 39 days 1,788 sqft
    2019-11-01 39 days 1,764 sqft
    2019-12-01 50 days 1,725 sqft
    2020-01-01 59 days 1,717 sqft
    2020-02-01 39 days 1,741 sqft
    2020-03-01 43 days 1,787 sqft
    2020-04-01 46 days 1,785 sqft
    2020-05-01 46 days 1,808 sqft
    2020-06-01 37 days 1,844 sqft
    2020-07-01 36 days 1,863 sqft
    2020-08-01 37 days 1,787 sqft
    2020-09-01 34 days 1,774 sqft
    2020-10-01 29 days 1,733 sqft
    2020-11-01 38 days 1,706 sqft
    2020-12-01 43 days 1,715 sqft
    2021-01-01 52 days 1,717 sqft
    2021-02-01 43 days 1,716 sqft
    2021-03-01 41 days 1,732 sqft
    2021-04-01 35 days 1,746 sqft
    2021-05-01 31 days 1,768 sqft
    2021-06-01 25 days 1,772 sqft
    2021-07-01 29 days 1,786 sqft
    2021-08-01 36 days 1,715 sqft
    2021-09-01 35 days 1,741 sqft
    2021-10-01 35 days 1,715 sqft
    2021-11-01 40 days 1,684 sqft
    2021-12-01 44 days 1,660 sqft
    2022-01-01 49 days 1,640 sqft
    2022-02-01 45 days 1,632 sqft
    2022-03-01 37 days 1,664 sqft
    2022-04-01 33 days 1,664 sqft
    Canton's median listing age (time on market) for 2022-04-01 was 33 days. This is -4% shorter than the same period one year ago.

    Canton's median square footage for active listings during the 2022-04-01 period was 1,664 sqft. One year prior, the average listing was 1,746 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.