Columbia VA Loans

COLUMBIA, MO

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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.

    Columbia's 59 lenders originated 677 VA loans during 2021. The total origination value was $160,945,000, with an average VA loan value of $237,733.

    Columbia VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbia averaged 5.49% 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 5.72% and one month ago for the week of 2022-04-08, the average rate was 5.04%.

    The average rate one year ago was 2.86%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.49%.

    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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Columbia level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 238 2.80% $4,136
    FLAT BRANCH MORTGAGE, INC. 58 2.84% $3,738
    QUICKEN LOANS, LLC 38 2.56% $4,144
    PENNYMAC LOAN SERVICES, LLC 33 2.47% $4,553
    FREEDOM MORTGAGE CORPORATION 25 2.45% $1,316
    DAS Acquisition Company, LLC 22 3.14% $3,797
    NEW DAY FINANCIAL, LLC 13 2.63% $3,550
    USAA Federal Savings Bank 12 2.80% $3,142
    VILLAGE CAPITAL & INVESTMENT LLC 12 2.68% $2,517
    NAVY FEDERAL CREDIT UNION 12 2.39% $6,014
    CALIBER HOME LOANS, INC. 11 2.58% $2,108
    The Central Trust Bank 9 2.82% $3,700
    Wells Fargo Bank 7 2.32% $3,728
    Midwest Mortgage Associates Corporation 7 2.59% $6,748
    The Federal Savings Bank 6 2.50% $4,530
    Mid-Continent Funding, Inc. 6 2.83% $2,956
    Mr. Cooper ( Nationstar Mortgage ) 5 2.98% $2,846
    LAKEVIEW LOAN SERVICING, LLC 4 2.35% $1,746
    Magnolia Bank 4 2.50% $7,774
    UNITED WHOLESALE MORTGAGE, LLC 4 2.72% $2,887
    North American Savings Bank, F.S.B. 4 2.44% $3,811
    NEWREZ LLC 4 3.03% $3,962
    HOME POINT FINANCIAL CORPORATION 4 2.25% $3,731
    First Federal Bank 3 2.58% $5,651
    PENTAGON FEDERAL CREDIT UNION 3 2.25% $915
    PLANET HOME LENDING, LLC 3 2.67% $1,843
    LOANDEPOT.COM, LLC 3 2.50% $3,005
    NBH Bank 2 2.44% $5,543
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $2,089
    First Guaranty Mortgage Corporation 2 2.50% $2,058
    First Home Bank 2 2.44% $3,615
    First Mortgage Solutions, LLC 2 2.31% $2,268
    Flagstar Bank, FSB 2 2.89% $947
    GUILD MORTGAGE COMPANY 2 2.81% $6,255
    Hawthorn Bank 2 2.31% $2,002
    Low VA Rates, LLC 2 2.50% $4,852
    MOVEMENT MORTGAGE, LLC 2 3.19% $1,539
    NBKC BANK 2 2.25% $5,497
    SUN WEST MORTGAGE COMPANY, INC. 2 2.87% $3,567
    UNION HOME MORTGAGE CORP. 2 2.63% $2,670
    U.S. Bank 2 2.88% $2,081
    NP, Inc. 1 2.38% $1,748
    Old National Bank 1 2.75% $1,532
    ON Q FINANCIAL, INC. 1 2.75% $17,940
    Gateway First Bank 1 2.88% $3,016
    First State Bank of St. Charles, Missouri 1 2.25% $2,323
    FIRST COMMUNITY MORTGAGE, INC. 1 2.38% $2,702
    First Bank 1 2.63% $450
    Simmons Bank 1 2.75% $2,038
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.13% $15,534
    COMMUNITY MORTGAGE, LLC 1 2.25% $10,860
    Community Mortgage Banc Corporation 1 3.13% $5,224
    UMB Bank 1 2.88% $1,153
    Bell Bank 1 2.75% $1,023
    Carrington Mortgage Services, LLC 1 3.25% $2,357
    BNC National Bank 1 2.50% $12,752
    Academy Bank 1 2.25% $2,209
    GUARANTEED RATE, INC. 1 2.25% $616
    GERSHMAN INVESTMENT CORP. 1 2.50% $6,292

    The top Columbia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 238 VA loans originated. Their average total fees are $4,136, which is $398 higher than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Columbia VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,316), CALIBER HOME LOANS, INC. ($2,108), VILLAGE CAPITAL & INVESTMENT LLC ($2,517), USAA Federal Savings Bank ($3,142) and NEW DAY FINANCIAL, LLC ($3,550).

    The lowest rate Columbia VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (2.39%), FREEDOM MORTGAGE CORPORATION (2.45%), PENNYMAC LOAN SERVICES, LLC (2.47%), QUICKEN LOANS, LLC (2.56%) and CALIBER HOME LOANS, INC. (2.58%).

    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 $229,400 (5.1%) $284,052 (4.1%) 0.84 719
    2018-02-01 $232,450 (3.3%) $288,106 (1.4%) 0.84 721
    2018-03-01 $241,900 (0.4%) $291,176 (-0.8%) 0.84 790
    2018-04-01 $251,950 (-1.2%) $298,021 (-1.2%) 0.85 819
    2018-05-01 $263,850 (3.0%) $301,694 (-2.7%) 0.88 867
    2018-06-01 $259,000 (0.7%) $302,105 (-4.1%) 0.86 867
    2018-07-01 $249,950 (0.0%) $300,210 (-1.5%) 0.83 873
    2018-08-01 $247,450 (2.7%) $295,407 (-0.8%) 0.83 916
    2018-09-01 $243,000 (5.7%) $286,152 (-0.9%) 0.81 971
    2018-10-01 $239,450 (4.2%) $283,217 (-1.7%) 0.80 1,021
    2018-11-01 $236,950 (4.9%) $279,959 (-1.2%) 0.79 945
    2018-12-01 $237,900 (3.5%) $282,741 (0.8%) 0.81 871
    2019-01-01 $238,950 (4.2%) $289,714 (2.0%) 0.82 774
    2019-02-01 $237,200 (2.0%) $289,643 (0.5%) 0.79 787
    2019-03-01 $246,671 (2.0%) $297,924 (2.3%) 0.80 772
    2019-04-01 $255,371 (1.4%) $306,933 (3.0%) 0.80 753
    2019-05-01 $255,900 (-3.0%) $305,090 (1.1%) 0.79 772
    2019-06-01 $250,000 (-3.5%) $309,050 (2.3%) 0.77 785
    2019-07-01 $252,450 (1.0%) $310,071 (3.3%) 0.78 796
    2019-08-01 $252,586 (2.1%) $303,900 (2.9%) 0.79 763
    2019-09-01 $249,700 (2.8%) $301,740 (5.5%) 0.79 722
    2019-10-01 $249,950 (4.4%) $303,641 (7.2%) 0.80 722
    2019-11-01 $249,900 (5.5%) $303,373 (8.4%) 0.81 692
    2019-12-01 $246,000 (3.4%) $304,698 (7.8%) 0.82 617
    2020-01-01 $243,500 (1.9%) $301,679 (4.1%) 0.81 550
    2020-02-01 $249,900 (5.4%) $306,067 (5.7%) 0.81 517
    2020-03-01 $254,900 (3.3%) $314,035 (5.4%) 0.80 536
    2020-04-01 $275,500 (7.9%) $330,197 (7.6%) 0.86 488
    2020-05-01 $272,000 (6.3%) $326,578 (7.0%) 0.82 461
    2020-06-01 $282,400 (13.0%) $345,939 (11.9%) 0.82 448
    2020-07-01 $290,000 (14.9%) $353,155 (13.9%) 0.83 424
    2020-08-01 $285,000 (12.8%) $344,989 (13.5%) 0.81 416
    2020-09-01 $277,950 (11.3%) $329,345 (9.2%) 0.79 389
    2020-10-01 $255,000 (2.0%) $323,195 (6.4%) 0.73 375
    2020-11-01 $247,000 (-1.2%) $326,366 (7.6%) 0.71 359
    2020-12-01 $251,150 (2.1%) $341,750 (12.2%) 0.74 315
    2021-01-01 $259,900 (6.7%) $368,780 (22.2%) 0.76 233
    2021-02-01 $252,500 (1.0%) $393,501 (28.6%) 0.73 188
    2021-03-01 $274,900 (7.9%) $380,647 (21.2%) 0.77 199
    2021-04-01 $299,500 (8.7%) $390,734 (18.3%) 0.80 179
    2021-05-01 $275,000 (1.1%) $370,606 (13.5%) 0.72 213
    2021-06-01 $282,450 (0.0%) $380,274 (9.9%) 0.73 255
    2021-07-01 $279,900 (-3.5%) $357,895 (1.3%) 0.73 307
    2021-08-01 $269,950 (-5.3%) $350,189 (1.5%) 0.71 305
    2021-09-01 $264,450 (-4.9%) $341,650 (3.7%) 0.70 297
    2021-10-01 $279,900 (9.8%) $351,658 (8.8%) 0.74 292
    2021-11-01 $279,900 (13.3%) $355,898 (9.1%) 0.74 250
    2021-12-01 $286,950 (14.3%) $362,160 (6.0%) 0.77 220
    2022-01-01 $331,600 (27.6%) $384,179 (4.2%) 0.88 161
    2022-02-01 $337,500 (33.7%) $403,448 (2.5%) 0.86 150
    2022-03-01 $317,450 (15.5%) $400,540 (5.2%) 0.78 170
    2022-04-01 $349,000 (16.5%) $419,068 (7.3%) 0.82 188
    Columbia's median listing price for 2022-04-01 was $349,000, a difference of $49,500 (16.5%) versus the prior year and $31,550 versus the prior month.

    Columbia's median listing price comes in at 82% of the national average.

    Columbia's average listing price for 2022-04-01 was $419,068, a difference of $28,334 (7.3%) versus the prior year and $18,528 versus the prior month.

    For the 2022-04-01 period, Columbia had 188 MLS listings, a difference of 18 listings (11%) versus the prior month and 9 listings (5%) 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 78 days 2,001 sqft
    2018-02-01 70 days 2,042 sqft
    2018-03-01 53 days 2,092 sqft
    2018-04-01 45 days 2,211 sqft
    2018-05-01 49 days 2,269 sqft
    2018-06-01 56 days 2,257 sqft
    2018-07-01 64 days 2,265 sqft
    2018-08-01 65 days 2,214 sqft
    2018-09-01 63 days 2,166 sqft
    2018-10-01 66 days 2,156 sqft
    2018-11-01 77 days 2,110 sqft
    2018-12-01 89 days 2,078 sqft
    2019-01-01 99 days 2,002 sqft
    2019-02-01 93 days 1,992 sqft
    2019-03-01 45 days 2,094 sqft
    2019-04-01 40 days 2,200 sqft
    2019-05-01 48 days 2,210 sqft
    2019-06-01 56 days 2,235 sqft
    2019-07-01 57 days 2,141 sqft
    2019-08-01 66 days 2,137 sqft
    2019-09-01 66 days 2,140 sqft
    2019-10-01 63 days 2,153 sqft
    2019-11-01 67 days 2,090 sqft
    2019-12-01 76 days 2,043 sqft
    2020-01-01 85 days 1,920 sqft
    2020-02-01 62 days 1,942 sqft
    2020-03-01 40 days 1,957 sqft
    2020-04-01 45 days 2,100 sqft
    2020-05-01 52 days 2,142 sqft
    2020-06-01 39 days 2,126 sqft
    2020-07-01 41 days 2,090 sqft
    2020-08-01 42 days 2,112 sqft
    2020-09-01 44 days 1,993 sqft
    2020-10-01 39 days 1,945 sqft
    2020-11-01 39 days 1,872 sqft
    2020-12-01 54 days 1,867 sqft
    2021-01-01 62 days 1,869 sqft
    2021-02-01 28 days 1,882 sqft
    2021-03-01 18 days 1,885 sqft
    2021-04-01 23 days 2,103 sqft
    2021-05-01 15 days 1,955 sqft
    2021-06-01 20 days 1,966 sqft
    2021-07-01 22 days 2,046 sqft
    2021-08-01 30 days 1,930 sqft
    2021-09-01 32 days 1,907 sqft
    2021-10-01 35 days 1,994 sqft
    2021-11-01 37 days 1,945 sqft
    2021-12-01 53 days 1,956 sqft
    2022-01-01 53 days 2,030 sqft
    2022-02-01 26 days 1,943 sqft
    2022-03-01 16 days 2,033 sqft
    2022-04-01 15 days 2,094 sqft
    Columbia's median listing age (time on market) for 2022-04-01 was 15 days. This is -33% shorter than the same period one year ago.

    Columbia's median square footage for active listings during the 2022-04-01 period was 2,094 sqft. One year prior, the average listing was 2,103 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.