Canton VA Loans
CANTON-MASSILLON, 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.
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.