Columbia VA Loan Rates, Closing Costs & Stats

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 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 51 lenders originated 315 VA loans during 2022. The total origination value was $90,515,000, with an average VA loan value of $287,349.

    Columbia VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbia averaged -0.3% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Columbia's average VA mortgage closing costs are $4,277.

    The average rate for the prior week (2023-11-17) was 6.64% and one month ago for the week of 2023-10-20, the average rate was 7.27%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.94%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 125 4.69% $6,023
    FLAT BRANCH MORTGAGE, INC. 30 4.97% $6,164
    NAVY FEDERAL CREDIT UNION 14 4.08% $3,905
    DAS Acquisition Company, LLC 11 5.49% $6,867
    PENNYMAC LOAN SERVICES, LLC 10 3.51% $8,477
    The Central Trust Bank 9 4.89% $8,923
    QUICKEN LOANS, LLC 9 4.25% $8,165
    NEW DAY FINANCIAL, LLC 7 3.98% $12,049
    USAA Federal Savings Bank 6 3.58% $4,961
    CMG MORTGAGE, INC. 5 5.43% $7,571
    LOANDEPOT.COM, LLC 5 3.25% $11,883
    Midwest Mortgage Associates Corporation 5 5.33% $5,269
    VILLAGE CAPITAL MORTGAGE 4 3.66% $6,420
    The Federal Savings Bank 4 4.84% $10,794
    Flagstar Bank, FSB 3 5.00% $6,250
    PENTAGON FEDERAL CREDIT UNION 3 3.13% $4,873
    ON Q FINANCIAL, INC. 3 5.25% $8,870
    AMERISAVE MORTGAGE CORPORATION 3 3.58% $12,578
    GERSHMAN INVESTMENT CORP. 3 5.46% $10,356
    UNITED WHOLESALE MORTGAGE, LLC 3 4.39% $2,279
    Mid-Continent Funding, Inc. 3 4.92% $3,366
    Wells Fargo Bank 2 3.75% $3,868
    Armed Forces Bank 2 4.19% $17,794
    CALIBER HOME LOANS, INC. 2 4.50% $5,786
    HOME POINT FINANCIAL CORPORATION 2 3.88% $12,383
    Magnolia Bank 2 6.13% $14,729
    Mr. Cooper ( Nationstar Mortgage ) 2 3.56% $4,798
    NP, Inc. 2 2.75% $3,759
    Servion, Inc. 2 3.88% $8,790
    U.S. Bank 2 4.94% $3,731
    GUARANTEED RATE, INC. 1 5.00% $3,556
    NBKC BANK 1 5.38% $10,251
    GENEVA FINANCIAL, LLC 1 3.25% $17,453
    NEWREZ LLC 1 4.50% $5,828
    Arvest Bank 1 5.50% $574
    FREEDOM MORTGAGE CORPORATION 1 4.63% $7,055
    FirstTrust Home Loans, Inc. 1 2.75% $5,432
    Citizens Bank 1 4.63% $8,844
    PLANET HOME LENDING, LLC 1 2.75% $760
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.63% $16,629
    Carrington Mortgage Services, LLC 1 2.75% $4,356
    Bank of Springfield 1 3.13% $14,375
    SIRVA MORTGAGE, INC. 1 3.75% $0
    CARDINAL FINANCIAL 1 5.25% $16,020
    BROKER SOLUTIONS, INC. 1 5.00% $6,429
    United Fidelity Funding Corp. 1 5.75% $14,627
    Bell Bank 1 5.13% $6,774
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $2,249
    HOMESITE MORTGAGE, LLC 1 4.88% $2,853
    Barrington Bank & Trust Company, N.A. 1 5.25% $2,288
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $8,683

    The top Columbia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 125 VA loans originated. Their average total fees are $6,023, which is $142 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Columbia VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,905), Mortgage Research Center, LLC ($6,023), FLAT BRANCH MORTGAGE, INC. ($6,164), DAS Acquisition Company, LLC ($6,867) and PENNYMAC LOAN SERVICES, LLC ($8,477).

    The lowest rate Columbia VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.51%), NAVY FEDERAL CREDIT UNION (4.08%), Mortgage Research Center, LLC (4.69%), FLAT BRANCH MORTGAGE, INC. (4.97%) and DAS Acquisition Company, LLC (5.49%).

    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%) $281,309 (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%) $293,218 (-3.0%) 0.83 913
    2018-07-01 $248,050 (3.6%) $292,455 (-0.1%) 0.83 922
    2018-08-01 $237,425 (2.6%) $286,035 (-0.1%) 0.80 952
    2018-09-01 $234,900 (5.6%) $278,854 (0.3%) 0.79 999
    2018-10-01 $232,475 (3.4%) $276,905 (-0.1%) 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%) $286,340 (0.0%) 0.77 790
    2019-04-01 $244,962 (-0.3%) $292,364 (0.3%) 0.78 775
    2019-05-01 $246,125 (-2.5%) $289,995 (-1.4%) 0.77 786
    2019-06-01 $242,500 (-3.0%) $291,725 (-0.5%) 0.76 808
    2019-07-01 $239,950 (-3.3%) $292,522 (0.0%) 0.75 824
    2019-08-01 $240,882 (1.5%) $292,929 (2.4%) 0.76 792
    2019-09-01 $242,355 (3.2%) $294,147 (5.5%) 0.78 764
    2019-10-01 $244,975 (5.4%) $294,958 (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 (9.3%) 0.84 502
    2020-05-01 $267,000 (8.5%) $317,140 (9.4%) 0.81 486
    2020-06-01 $272,450 (12.4%) $333,351 (14.3%) 0.80 469
    2020-07-01 $276,950 (15.4%) $340,382 (16.4%) 0.80 455
    2020-08-01 $276,900 (15.0%) $336,721 (15.0%) 0.79 439
    2020-09-01 $264,900 (9.3%) $327,163 (11.2%) 0.76 410
    2020-10-01 $248,900 (1.6%) $316,776 (7.4%) 0.71 399
    2020-11-01 $245,000 (2.1%) $326,337 (10.6%) 0.72 376
    2020-12-01 $253,175 (7.8%) $343,127 (15.7%) 0.75 331
    2021-01-01 $254,900 (11.4%) $367,875 (25.7%) 0.76 265
    2021-02-01 $248,950 (4.6%) $388,217 (31.4%) 0.72 201
    2021-03-01 $269,900 (7.7%) $373,763 (22.2%) 0.77 213
    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 (-3.2%) $344,978 (2.5%) 0.71 314
    2021-09-01 $251,450 (-5.1%) $330,602 (1.1%) 0.67 303
    2021-10-01 $269,900 (8.4%) $338,086 (6.7%) 0.72 294
    2021-11-01 $260,000 (6.1%) $337,462 (3.4%) 0.70 256
    2021-12-01 $277,812 (9.7%) $351,981 (2.6%) 0.75 218
    2022-01-01 $317,450 (24.5%) $368,817 (0.3%) 0.86 166
    2022-02-01 $314,048 (26.2%) $392,129 (1.0%) 0.82 163
    2022-03-01 $304,988 (13.0%) $386,958 (3.5%) 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 (32.9%) $407,744 (20.8%) 0.83 407
    2022-12-01 $342,450 (23.3%) $406,068 (15.4%) 0.85 355
    2023-01-01 $354,450 (11.7%) $415,031 (12.5%) 0.88 299
    2023-02-01 $352,500 (12.2%) $408,961 (4.3%) 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 $394,450 (15.5%) $476,089 (10.8%) 0.89 326
    2023-06-01 $398,075 (17.7%) $476,657 (11.9%) 0.89 327
    2023-07-01 $389,900 (16.4%) $459,003 (9.0%) 0.89 416
    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
    Columbia's median listing price for 2023-10-01 was $397,000, a difference of $47,000 (13.4%) versus the prior year and $10,750 versus the prior month.

    Columbia's median listing price comes in at 93% of the national average.

    Columbia's average listing price for 2023-10-01 was $467,196, a difference of $49,210 (11.8%) versus the prior year and $3,075 versus the prior month.

    For the 2023-10-01 period, Columbia had 425 MLS listings, a difference of 11 listings (3%) versus the prior month and 26 listings (7%) 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 1,993 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 2,230 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 2,065 sqft
    2019-04-01 43 days 2,150 sqft
    2019-05-01 47 days 2,144 sqft
    2019-06-01 53 days 2,151 sqft
    2019-07-01 56 days 2,088 sqft
    2019-08-01 58 days 2,102 sqft
    2019-09-01 60 days 2,124 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 2,097 sqft
    2020-09-01 44 days 2,005 sqft
    2020-10-01 37 days 1,953 sqft
    2020-11-01 41 days 1,931 sqft
    2020-12-01 54 days 1,968 sqft
    2021-01-01 58 days 1,969 sqft
    2021-02-01 28 days 1,945 sqft
    2021-03-01 18 days 1,953 sqft
    2021-04-01 21 days 2,126 sqft
    2021-05-01 15 days 2,021 sqft
    2021-06-01 16 days 1,986 sqft
    2021-07-01 22 days 2,053 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 1,938 sqft
    2021-12-01 44 days 1,972 sqft
    2022-01-01 41 days 2,000 sqft
    2022-02-01 26 days 1,977 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 2,224 sqft
    2023-07-01 26 days 2,120 sqft
    2023-08-01 42 days 2,164 sqft
    2023-09-01 51 days 2,200 sqft
    2023-10-01 53 days 2,219 sqft
    Columbia's median listing age (time on market) for 2023-10-01 was 53 days. This is 17% longer than the same period one year ago.

    Columbia's median square footage for active listings during the 2023-10-01 period was 2,219 sqft. One year prior, the average listing was 2,004 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.