Columbia VA Loan Rates, Closing Costs & Stats

COLUMBIA, MO

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.

Columbia's 42 lenders originated 232 VA loans during 2023. The total origination value was $67,240,000, with an average VA loan value of $289,828.

Columbia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbia averaged 6.67% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

Columbia's average VA mortgage closing costs are $4,421.

The average rate for the prior week (2024-05-31) was 6.78% and one month ago for the week of 2024-05-03, the average rate was 6.81%.

The average rate one year ago was 6.51%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.16%.

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

Columbia 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 Columbia level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 73 6.67% $5,606
FLAT BRANCH MORTGAGE, INC. 36 6.66% $4,613
PENNYMAC LOAN SERVICES, LLC 10 5.68% $6,123
Mid-Continent Funding, Inc. 9 6.47% $4,929
NAVY FEDERAL CREDIT UNION 9 5.86% $3,279
Midwest Mortgage Associates Corporation 8 6.64% $5,102
The Central Trust Bank 8 6.28% $6,498
DAS Acquisition Company, LLC 7 7.09% $3,792
QUICKEN LOANS, LLC 6 6.25% $7,593
The Federal Savings Bank 5 6.65% $9,863
LOANDEPOT.COM, LLC 4 5.94% $11,384
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.75% $2,637
FREEDOM MORTGAGE CORPORATION 4 6.63% $13,303
UNITED WHOLESALE MORTGAGE, LLC 4 6.44% $5,342
USAA Federal Savings Bank 4 6.63% $4,790
NEW DAY FINANCIAL, LLC 3 7.75% $7,977
Hawthorn Bank 3 6.58% $4,691
Plains Commerce Bank 2 5.69% $8,028
Armed Forces Bank 2 6.25% $3,591
Bell Bank 2 6.38% $4,252
GERSHMAN INVESTMENT CORP. 2 7.19% $1,512
GUARANTEED RATE, INC. 2 6.50% $1,022
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $9,722
MOVEMENT MORTGAGE, LLC 1 6.75% $4,129
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $11,925
Nations Lending Corporation 1 5.75% $19,408
LOANPAL, LLC 1 6.38% $26,540
GENEVA FINANCIAL, LLC 1 6.63% $12,919
ON Q FINANCIAL, INC. 1 6.00% $11,640
First Federal Bank 1 6.63% $5,258
PENTAGON FEDERAL CREDIT UNION 1 5.38% $3,038
AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $4,854
PLANET HOME LENDING, LLC 1 6.75% $15,098
Cornerstone First Mortgage, Inc 1 5.49% $10,302
CONTOUR MORTGAGE CORPORATION 1 6.75% $9,722
SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $5,598
CMG MORTGAGE, INC. 1 7.25% $10,417
Citizens Bank 1 5.88% $6,591
TruHome Solutions, LLC 1 7.13% $1,509
Barrington Bank & Trust Company, N.A. 1 5.75% $6,919
Arvest Bank 1 6.00% $3,971
VILLAGE CAPITAL MORTGAGE 1 6.75% $1,668

The top Columbia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 73 VA loans originated. Their average total fees are $5,606, which is $993 higher than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Columbia VA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($4,613), Mortgage Research Center, LLC ($5,606), PENNYMAC LOAN SERVICES, LLC ($6,123), .

The lowest rate Columbia VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.68%), FLAT BRANCH MORTGAGE, INC. (6.66%), Mortgage Research Center, LLC (6.67%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Columbia (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 $224,950 (8.3%) $276,908 (6.5%) 0.83 751
2018-02-01 $225,000 (4.7%) $281,307 (3.4%) 0.82 763
2018-03-01 $235,000 (2.7%) $286,311 (1.0%) 0.82 827
2018-04-01 $245,650 (-0.9%) $291,637 (-0.3%) 0.83 856
2018-05-01 $252,500 (1.8%) $294,170 (-1.9%) 0.84 902
2018-06-01 $249,900 (2.5%) $293,181 (-3.0%) 0.83 912
2018-07-01 $247,725 (3.4%) $292,417 (-0.1%) 0.83 921
2018-08-01 $237,425 (2.5%) $286,035 (-0.1%) 0.80 952
2018-09-01 $234,900 (4.9%) $278,854 (0.2%) 0.79 999
2018-10-01 $232,475 (3.4%) $276,905 (-0.2%) 0.79 1,035
2018-11-01 $228,625 (4.4%) $272,510 (0.1%) 0.78 957
2018-12-01 $229,000 (3.6%) $273,410 (0.5%) 0.79 889
2019-01-01 $229,000 (1.8%) $277,344 (0.2%) 0.79 793
2019-02-01 $229,125 (1.8%) $278,383 (-1.0%) 0.77 802
2019-03-01 $236,429 (0.6%) $286,481 (0.1%) 0.77 791
2019-04-01 $244,981 (-0.3%) $292,610 (0.3%) 0.78 775
2019-05-01 $246,250 (-2.5%) $290,208 (-1.4%) 0.77 787
2019-06-01 $242,750 (-2.9%) $291,937 (-0.4%) 0.76 809
2019-07-01 $239,950 (-3.1%) $292,671 (0.1%) 0.75 825
2019-08-01 $240,882 (1.5%) $292,977 (2.4%) 0.76 793
2019-09-01 $242,355 (3.2%) $294,167 (5.5%) 0.78 764
2019-10-01 $244,975 (5.4%) $294,961 (6.5%) 0.79 742
2019-11-01 $239,950 (5.0%) $295,020 (8.3%) 0.79 709
2019-12-01 $234,975 (2.6%) $296,537 (8.5%) 0.78 615
2020-01-01 $228,725 (-0.1%) $292,560 (5.5%) 0.76 548
2020-02-01 $237,900 (3.8%) $295,541 (6.2%) 0.78 525
2020-03-01 $250,725 (6.1%) $305,921 (6.8%) 0.79 549
2020-04-01 $269,450 (10.0%) $319,532 (9.2%) 0.84 502
2020-05-01 $267,000 (8.4%) $317,140 (9.3%) 0.81 486
2020-06-01 $272,450 (12.2%) $333,351 (14.2%) 0.80 469
2020-07-01 $276,950 (15.4%) $340,382 (16.3%) 0.80 455
2020-08-01 $275,950 (14.6%) $336,474 (14.9%) 0.79 438
2020-09-01 $263,550 (8.8%) $326,865 (11.1%) 0.76 409
2020-10-01 $246,950 (0.8%) $316,448 (7.3%) 0.71 398
2020-11-01 $244,475 (1.9%) $326,009 (10.5%) 0.71 375
2020-12-01 $251,950 (7.2%) $342,801 (15.6%) 0.75 330
2021-01-01 $254,400 (11.2%) $367,875 (25.7%) 0.76 265
2021-02-01 $248,425 (4.4%) $387,681 (31.2%) 0.72 200
2021-03-01 $269,852 (7.6%) $373,193 (22.0%) 0.77 212
2021-04-01 $292,200 (8.4%) $377,574 (18.2%) 0.79 200
2021-05-01 $275,000 (3.0%) $356,451 (12.4%) 0.73 225
2021-06-01 $274,975 (0.9%) $369,738 (10.9%) 0.72 267
2021-07-01 $275,000 (-0.7%) $354,061 (4.0%) 0.73 311
2021-08-01 $268,000 (-2.9%) $344,978 (2.5%) 0.71 314
2021-09-01 $251,450 (-4.6%) $330,602 (1.1%) 0.67 303
2021-10-01 $269,900 (9.3%) $338,086 (6.8%) 0.72 294
2021-11-01 $260,972 (6.8%) $337,864 (3.6%) 0.70 256
2021-12-01 $279,424 (10.9%) $352,931 (3.0%) 0.76 219
2022-01-01 $319,900 (25.8%) $369,876 (0.5%) 0.86 166
2022-02-01 $318,950 (28.4%) $393,127 (1.4%) 0.83 164
2022-03-01 $304,988 (13.0%) $386,958 (3.7%) 0.76 185
2022-04-01 $316,000 (8.2%) $400,066 (6.0%) 0.75 212
2022-05-01 $341,500 (24.2%) $429,559 (20.5%) 0.78 270
2022-06-01 $338,250 (23.0%) $425,917 (15.2%) 0.75 320
2022-07-01 $334,900 (21.8%) $421,103 (18.9%) 0.75 378
2022-08-01 $342,400 (27.8%) $425,711 (23.4%) 0.79 384
2022-09-01 $348,000 (38.4%) $421,747 (27.6%) 0.81 381
2022-10-01 $350,000 (29.7%) $417,986 (23.6%) 0.82 399
2022-11-01 $345,625 (32.4%) $407,744 (20.7%) 0.83 407
2022-12-01 $342,450 (22.6%) $406,068 (15.1%) 0.85 355
2023-01-01 $354,450 (10.8%) $415,031 (12.2%) 0.88 299
2023-02-01 $352,500 (10.5%) $408,961 (4.0%) 0.85 312
2023-03-01 $367,375 (20.5%) $433,567 (12.1%) 0.87 313
2023-04-01 $385,000 (21.8%) $463,182 (15.8%) 0.90 313
2023-05-01 $392,450 (14.9%) $474,772 (10.5%) 0.89 330
2023-06-01 $397,125 (17.4%) $474,152 (11.3%) 0.89 331
2023-07-01 $388,904 (16.1%) $459,401 (9.1%) 0.88 416
2023-08-01 $392,425 (14.6%) $465,170 (9.3%) 0.90 420
2023-09-01 $386,250 (11.0%) $464,121 (10.1%) 0.90 414
2023-10-01 $397,000 (13.4%) $467,196 (11.8%) 0.93 425
2023-11-01 $384,725 (11.3%) $456,529 (12.0%) 0.92 426
2023-12-01 $374,900 (9.5%) $450,882 (11.0%) 0.91 420
2024-01-01 $375,000 (5.8%) $450,563 (8.6%) 0.92 361
2024-02-01 $382,450 (8.5%) $457,448 (11.9%) 0.92 352
2024-03-01 $375,000 (2.1%) $456,705 (5.3%) 0.88 364
2024-04-01 $402,200 (4.5%) $492,324 (6.3%) 0.94 370
2024-05-01 $428,125 (9.1%) $522,264 (10.0%) 0.97 400
Columbia's median listing price for 2024-05-01 was $428,125, a difference of $35,675 (9.1%) versus the prior year and $25,925 versus the prior month.

Columbia's median listing price comes in at 97% of the national average.

Columbia's average listing price for 2024-05-01 was $522,264, a difference of $47,492 (10.0%) versus the prior year and $29,940 versus the prior month.

For the 2024-05-01 period, Columbia had 400 MLS listings, a difference of 30 listings (8%) versus the prior month and 70 listings (21%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Columbia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 79 days 1,971 sqft
2018-02-01 72 days 1,994 sqft
2018-03-01 53 days 2,069 sqft
2018-04-01 45 days 2,181 sqft
2018-05-01 47 days 2,224 sqft
2018-06-01 56 days 2,210 sqft
2018-07-01 64 days 2,229 sqft
2018-08-01 65 days 2,179 sqft
2018-09-01 64 days 2,135 sqft
2018-10-01 67 days 2,133 sqft
2018-11-01 77 days 2,088 sqft
2018-12-01 89 days 2,029 sqft
2019-01-01 95 days 1,947 sqft
2019-02-01 89 days 1,947 sqft
2019-03-01 62 days 2,066 sqft
2019-04-01 43 days 2,151 sqft
2019-05-01 47 days 2,147 sqft
2019-06-01 53 days 2,152 sqft
2019-07-01 56 days 2,093 sqft
2019-08-01 59 days 2,105 sqft
2019-09-01 60 days 2,125 sqft
2019-10-01 62 days 2,142 sqft
2019-11-01 67 days 2,046 sqft
2019-12-01 76 days 2,030 sqft
2020-01-01 84 days 1,920 sqft
2020-02-01 59 days 1,942 sqft
2020-03-01 38 days 1,963 sqft
2020-04-01 45 days 2,060 sqft
2020-05-01 45 days 2,100 sqft
2020-06-01 37 days 2,089 sqft
2020-07-01 38 days 2,065 sqft
2020-08-01 42 days 2,091 sqft
2020-09-01 44 days 1,996 sqft
2020-10-01 37 days 1,953 sqft
2020-11-01 41 days 1,928 sqft
2020-12-01 54 days 1,966 sqft
2021-01-01 57 days 1,969 sqft
2021-02-01 28 days 1,938 sqft
2021-03-01 17 days 1,950 sqft
2021-04-01 21 days 2,126 sqft
2021-05-01 15 days 2,021 sqft
2021-06-01 16 days 1,990 sqft
2021-07-01 22 days 2,055 sqft
2021-08-01 28 days 1,929 sqft
2021-09-01 31 days 1,919 sqft
2021-10-01 30 days 1,952 sqft
2021-11-01 35 days 1,945 sqft
2021-12-01 44 days 1,976 sqft
2022-01-01 41 days 2,000 sqft
2022-02-01 26 days 1,988 sqft
2022-03-01 15 days 2,058 sqft
2022-04-01 14 days 2,086 sqft
2022-05-01 14 days 2,155 sqft
2022-06-01 20 days 2,096 sqft
2022-07-01 26 days 2,051 sqft
2022-08-01 37 days 2,051 sqft
2022-09-01 42 days 2,042 sqft
2022-10-01 45 days 2,004 sqft
2022-11-01 46 days 1,971 sqft
2022-12-01 61 days 1,975 sqft
2023-01-01 78 days 1,984 sqft
2023-02-01 56 days 1,974 sqft
2023-03-01 37 days 2,000 sqft
2023-04-01 30 days 2,058 sqft
2023-05-01 31 days 2,119 sqft
2023-06-01 33 days 2,220 sqft
2023-07-01 26 days 2,126 sqft
2023-08-01 42 days 2,166 sqft
2023-09-01 51 days 2,200 sqft
2023-10-01 53 days 2,219 sqft
2023-11-01 54 days 2,133 sqft
2023-12-01 64 days 2,076 sqft
2024-01-01 72 days 2,069 sqft
2024-02-01 50 days 2,045 sqft
2024-03-01 33 days 1,981 sqft
2024-04-01 32 days 2,012 sqft
2024-05-01 36 days 2,137 sqft
Columbia's median listing age (time on market) for 2024-05-01 was 36 days. This is 17% longer than the same period one year ago.

Columbia's median square footage for active listings during the 2024-05-01 period was 2,137 sqft. One year prior, the average listing was 2,119 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.