Columbia VA Loans

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 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.