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%.

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.