Columbus VA Loan Rates, Closing Costs & Stats

COLUMBUS, GA-AL

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.

Columbus's 111 lenders originated 1,508 VA loans during 2023. The total origination value was $413,440,000, with an average VA loan value of $274,164.

Columbus VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbus averaged 6.68% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

Columbus's average VA mortgage closing costs are $5,652.

The average rate for the prior week (2024-05-10) was 6.99% and one month ago for the week of 2024-04-12, the average rate was 6.87%.

The average rate one year ago was 6.08%.

For refis of the same type during the week of 2024-05-17, the average rate was 7.2%.

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

Columbus 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 Columbus level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 245 6.79% $5,683
CMG MORTGAGE, INC. 92 6.50% $10,640
UNITED WHOLESALE MORTGAGE, LLC 84 6.38% $8,571
NAVY FEDERAL CREDIT UNION 64 5.79% $5,927
Northpointe Bank 61 6.37% $8,064
CANOPY MORTGAGE, LLC 59 6.67% $14,411
QUICKEN LOANS, LLC 55 6.29% $9,169
ARK-LA-TEX FINANCIAL SERVICES, LLC. 52 6.30% $10,320
MOVEMENT MORTGAGE, LLC 52 6.58% $7,902
HOMESTAR FINANCIAL CORPORATION 41 6.09% $7,576
GUARANTEED RATE, INC. 40 6.27% $8,931
VANDERBILT MORTGAGE AND FINANCE, INC. 37 6.22% $6,714
BROKER SOLUTIONS, INC. 37 5.99% $9,928
CROSSCOUNTRY MORTGAGE, LLC 37 6.65% $6,071
PENNYMAC LOAN SERVICES, LLC 33 5.30% $6,308
USAA Federal Savings Bank 31 6.19% $9,952
FREEDOM MORTGAGE CORPORATION 30 6.61% $12,043
Synovus Bank 28 6.15% $8,148
GUILD MORTGAGE COMPANY 25 6.28% $10,449
NEW DAY FINANCIAL, LLC 23 7.54% $11,372
ENVOY MORTGAGE, LTD 17 6.47% $10,114
Mr. Cooper ( Nationstar Mortgage ) 16 6.03% $12,300
LOANDEPOT.COM, LLC 16 6.35% $9,893
The Federal Savings Bank 14 6.65% $12,821
RUOFF MORTGAGE COMPANY, INC. 13 6.68% $6,150
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.96% $6,160
EVERETT FINANCIAL, INC. 11 7.34% $8,119
MORTGAGE SOLUTIONS OF COLORADO, LLC 11 7.81% $4,049
NEWREZ LLC 10 6.69% $7,206
Armed Forces Bank 8 5.98% $7,245
PENTAGON FEDERAL CREDIT UNION 8 5.61% $7,180
Renasant Bank 8 6.08% $6,371
Wells Fargo Bank 7 6.14% $2,794
VILLAGE CAPITAL MORTGAGE 7 6.47% $9,790
CARDINAL FINANCIAL 7 6.32% $7,800
Barrington Bank & Trust Company, N.A. 7 6.59% $6,792
Plains Commerce Bank 6 6.15% $9,063
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.81% $4,750
Trustmark National Bank 5 5.90% $5,169
INTERLINC MORTGAGE SERVICES, LLC 5 6.40% $6,867
STOCKTON MORTGAGE CORPORATION 4 6.19% $6,282
OPEN MORTGAGE, LLC 4 6.66% $6,039
ROYAL UNITED MORTGAGE LLC 4 7.00% $8,337
Flagstar Bank, FSB 4 7.09% $5,633
Cornerstone First Mortgage, Inc 4 7.06% $5,569
Mid-Continent Funding, Inc. 3 6.63% $9,428
First Federal Bank 3 6.67% $2,883
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $11,907
RELIANCE FIRST CAPITAL, LLC 3 6.83% $6,549
AMERISAVE MORTGAGE CORPORATION 3 5.92% $13,077
Equity Prime Mortgage LLC 3 6.63% $6,111
LOANPAL, LLC 3 5.91% $14,174
Lakeview Community Capital, LLC 3 6.25% $9,959
CERTAINTY HOME LOANS, LLC 3 5.25% $9,402
Prosperity Home Mortgage, LLC 2 6.19% $7,649
PLANET HOME LENDING, LLC 2 6.25% $8,331
NBKC BANK 2 6.31% $6,813
PHH Mortgage Corporation 2 7.06% $5,410
Hometown Equity Mortgage, LLC 2 6.25% $7,452
HomePromise Corporation 2 6.06% $15,203
TJC Mortgage, Inc. 2 5.50% $15,039
THRIVE MORTGAGE, LLC 2 7.13% $13,227
AMERICAN FINANCIAL NETWORK, INC. 2 6.25% $8,659
MILEND, INC. 2 7.13% $13,894
Paramount Residential Mortgage Group, Inc. 2 7.00% $4,511
South State Bank 2 6.25% $7,918
Franklin Loan Corporation 2 6.69% $12,489
American Mortgage & Equity Consultants, Inc. 2 6.94% $13,088
SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $7,428
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $9,919
AmeriHome Mortgage Company, LLC 1 5.50% $12,178
Ameris Bank 1 6.25% $3,411
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $19,243
AUGUSTA MORTGAGE CO. 1 5.75% $22,454
Bank of England 1 4.75% $11,059
Bank of the Pacific 1 6.25% $2,452
BNC National Bank 1 5.25% $9,645
CALCON MUTUAL MORTGAGE LLC 1 8.13% $10,201
CHURCHILL MORTGAGE CORPORATION 1 7.13% $15,186
CityWorth Mortgage LLC 1 5.75% $800
CONTOUR MORTGAGE CORPORATION 1 8.25% $18,491
EVANSVILLE TEACHERS 1 6.13% $7,748
FBC MORTGAGE, LLC 1 4.75% $11,385
Fifth Third Bank 1 5.88% $6,611
First National Bank Texas 1 6.25% $5,028
GARDNER FINANCIAL SERVICES, LTD. 1 6.88% $16,427
GUARANTEED RATE AFFINITY, LLC 1 6.25% $2,913
GUARANTY MORTGAGE SERVICES, L.L.C. 1 6.25% $11,758
Ixonia Bank 1 6.88% $16,656
Magnolia Bank 1 5.13% $27,661
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.75% $5,944
MORTGAGE INVESTORS GROUP, INC. 1 7.13% $7,526
MORTGAGEONE, INC. 1 8.50% $4,298
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $11,068
NBH Bank 1 6.38% $18,385
NFM, INC. 1 6.13% $20,766
PLAZA HOME MORTGAGE, INC. 1 4.99% $9,450
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.75% $16,642
Presidential Bank, FSB 1 5.75% $5,022
Princeton Mortgage Corporation 1 5.99% $8,285
Regions Bank 1 6.25% $6,420
RESIDENTIAL BANCORP 1 6.25% $11,518
Shamrock Home Loans, Inc. 1 6.50% $2,674
SouthPoint Bank 1 7.13% $6,013
SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $2,973
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $9,162
SUMMIT FUNDING, INC. 1 5.63% $8,311
ACADEMY MORTGAGE CORPORATION 1 6.63% $11,207
SWBC MORTGAGE CORPORATION 1 6.75% $5,074
The Central Trust Bank 1 5.25% $9,051
UNION HOME MORTGAGE CORP. 1 6.38% $18,619

The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 245 VA loans originated. Their average total fees are $5,683, which is $4,957 lower than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Columbus VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,049), Mortgage Research Center, LLC ($5,683), NAVY FEDERAL CREDIT UNION ($5,927), CROSSCOUNTRY MORTGAGE, LLC ($6,071) and RUOFF MORTGAGE COMPANY, INC. ($6,150).

The lowest rate Columbus VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.30%), NAVY FEDERAL CREDIT UNION (5.79%), BROKER SOLUTIONS, INC. (5.99%), Mr. Cooper ( Nationstar Mortgage ) (6.03%) and HOMESTAR FINANCIAL CORPORATION (6.09%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Columbus (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 $159,225 (11.6%) $205,780 (13.0%) 0.59 1,478
2018-02-01 $158,495 (9.3%) $204,565 (11.1%) 0.58 1,481
2018-03-01 $159,250 (6.2%) $206,963 (10.9%) 0.56 1,487
2018-04-01 $162,585 (6.3%) $211,482 (12.1%) 0.55 1,513
2018-05-01 $164,225 (6.0%) $212,220 (10.8%) 0.55 1,532
2018-06-01 $159,900 (3.2%) $204,301 (5.5%) 0.53 1,553
2018-07-01 $158,945 (2.6%) $205,062 (4.5%) 0.53 1,557
2018-08-01 $157,225 (1.4%) $200,659 (1.8%) 0.53 1,568
2018-09-01 $160,000 (3.2%) $205,276 (1.8%) 0.54 1,538
2018-10-01 $159,950 (3.7%) $206,844 (3.4%) 0.54 1,534
2018-11-01 $159,900 (2.2%) $208,576 (4.0%) 0.54 1,536
2018-12-01 $159,995 (2.6%) $210,743 (4.1%) 0.55 1,540
2019-01-01 $160,000 (0.5%) $212,901 (3.5%) 0.55 1,442
2019-02-01 $164,950 (4.1%) $213,298 (4.3%) 0.56 1,431
2019-03-01 $164,957 (3.6%) $219,349 (6.0%) 0.54 1,331
2019-04-01 $164,900 (1.4%) $223,452 (5.7%) 0.52 1,263
2019-05-01 $164,615 (0.2%) $227,625 (7.3%) 0.51 1,226
2019-06-01 $165,000 (3.2%) $228,352 (11.8%) 0.52 1,206
2019-07-01 $168,308 (5.9%) $232,645 (13.5%) 0.53 1,116
2019-08-01 $177,045 (12.6%) $237,647 (18.4%) 0.56 1,088
2019-09-01 $180,114 (12.6%) $241,092 (17.5%) 0.58 1,079
2019-10-01 $186,250 (16.4%) $245,991 (18.9%) 0.60 1,074
2019-11-01 $189,950 (18.8%) $247,681 (18.8%) 0.62 1,048
2019-12-01 $186,875 (16.8%) $247,465 (17.4%) 0.62 1,016
2020-01-01 $183,900 (14.9%) $246,573 (15.8%) 0.61 965
2020-02-01 $189,800 (15.1%) $252,106 (18.2%) 0.62 918
2020-03-01 $181,968 (10.3%) $246,877 (12.6%) 0.57 871
2020-04-01 $179,200 (8.7%) $243,952 (9.2%) 0.56 867
2020-05-01 $179,900 (9.3%) $249,099 (9.4%) 0.55 764
2020-06-01 $199,900 (21.2%) $262,240 (14.8%) 0.59 685
2020-07-01 $199,700 (18.7%) $261,736 (12.5%) 0.58 618
2020-08-01 $199,900 (12.9%) $268,837 (13.1%) 0.57 562
2020-09-01 $192,450 (6.9%) $288,874 (19.8%) 0.55 483
2020-10-01 $195,079 (4.7%) $288,351 (17.2%) 0.56 502
2020-11-01 $194,290 (2.3%) $275,809 (11.4%) 0.57 521
2020-12-01 $179,950 (-3.7%) $272,599 (10.2%) 0.54 509
2021-01-01 $194,700 (5.9%) $280,207 (13.6%) 0.58 455
2021-02-01 $188,650 (-0.6%) $272,451 (8.1%) 0.55 429
2021-03-01 $186,850 (2.7%) $273,487 (10.8%) 0.53 386
2021-04-01 $190,000 (6.0%) $286,966 (17.6%) 0.51 364
2021-05-01 $189,300 (5.2%) $275,482 (10.6%) 0.50 365
2021-06-01 $182,500 (-8.7%) $271,206 (3.4%) 0.48 391
2021-07-01 $184,950 (-7.4%) $281,266 (7.5%) 0.49 481
2021-08-01 $188,575 (-5.7%) $279,112 (3.8%) 0.50 495
2021-09-01 $189,900 (-1.3%) $292,273 (1.2%) 0.51 521
2021-10-01 $189,900 (-2.7%) $284,066 (-1.5%) 0.51 521
2021-11-01 $186,850 (-3.8%) $286,837 (4.0%) 0.50 536
2021-12-01 $189,450 (5.3%) $296,387 (8.7%) 0.51 436
2022-01-01 $187,900 (-3.5%) $318,215 (13.6%) 0.51 356
2022-02-01 $183,875 (-2.5%) $316,683 (16.2%) 0.48 328
2022-03-01 $185,250 (-0.9%) $308,961 (13.0%) 0.46 331
2022-04-01 $174,950 (-7.9%) $276,442 (-3.7%) 0.42 356
2022-05-01 $200,475 (5.9%) $280,466 (1.8%) 0.46 411
2022-06-01 $227,950 (24.9%) $299,125 (10.3%) 0.51 464
2022-07-01 $235,000 (27.1%) $299,869 (6.6%) 0.53 537
2022-08-01 $219,900 (16.6%) $336,168 (20.4%) 0.51 545
2022-09-01 $220,875 (16.3%) $335,429 (14.8%) 0.52 550
2022-10-01 $229,900 (21.1%) $300,166 (5.7%) 0.54 598
2022-11-01 $229,950 (23.1%) $293,559 (2.3%) 0.55 585
2022-12-01 $225,000 (18.8%) $293,745 (-0.9%) 0.56 529
2023-01-01 $230,000 (22.4%) $348,152 (9.4%) 0.57 436
2023-02-01 $213,750 (16.3%) $341,581 (7.9%) 0.52 419
2023-03-01 $224,925 (21.4%) $354,932 (14.9%) 0.53 401
2023-04-01 $246,000 (40.6%) $379,317 (37.2%) 0.57 395
2023-05-01 $275,250 (37.3%) $382,414 (36.4%) 0.62 410
2023-06-01 $270,138 (18.5%) $386,157 (29.1%) 0.61 415
2023-07-01 $270,500 (15.1%) $376,858 (25.7%) 0.61 422
2023-08-01 $276,450 (25.7%) $374,029 (11.3%) 0.63 446
2023-09-01 $269,900 (22.2%) $349,622 (4.2%) 0.63 536
2023-10-01 $267,125 (16.2%) $343,694 (14.5%) 0.63 569
2023-11-01 $259,950 (13.1%) $316,404 (7.8%) 0.62 601
2023-12-01 $254,900 (13.3%) $320,067 (9.0%) 0.62 591
2024-01-01 $242,475 (5.4%) $322,761 (-7.3%) 0.59 542
2024-02-01 $242,094 (13.3%) $330,011 (-3.4%) 0.58 533
2024-03-01 $245,000 (8.9%) $340,746 (-4.0%) 0.58 518
2024-04-01 $247,200 (0.5%) $343,793 (-9.4%) 0.58 508
Columbus's median listing price for 2024-04-01 was $247,200, a difference of $1,200 (0.5%) versus the prior year and $2,200 versus the prior month.

Columbus's median listing price comes in at 58% of the national average.

Columbus's average listing price for 2024-04-01 was $343,793, a difference of $-35,524 (-9.4%) versus the prior year and $3,047 versus the prior month.

For the 2024-04-01 period, Columbus had 508 MLS listings, a difference of -10 listings (-2%) versus the prior month and 113 listings (29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 91 days 1,923 sqft
2018-02-01 87 days 1,932 sqft
2018-03-01 74 days 1,929 sqft
2018-04-01 74 days 1,928 sqft
2018-05-01 72 days 1,970 sqft
2018-06-01 68 days 1,936 sqft
2018-07-01 73 days 1,915 sqft
2018-08-01 80 days 1,923 sqft
2018-09-01 84 days 1,941 sqft
2018-10-01 85 days 1,956 sqft
2018-11-01 91 days 1,948 sqft
2018-12-01 96 days 1,937 sqft
2019-01-01 101 days 1,927 sqft
2019-02-01 97 days 1,942 sqft
2019-03-01 91 days 1,953 sqft
2019-04-01 80 days 1,954 sqft
2019-05-01 73 days 1,942 sqft
2019-06-01 68 days 2,000 sqft
2019-07-01 66 days 2,011 sqft
2019-08-01 68 days 2,030 sqft
2019-09-01 71 days 2,058 sqft
2019-10-01 70 days 2,101 sqft
2019-11-01 67 days 2,150 sqft
2019-12-01 74 days 2,114 sqft
2020-01-01 82 days 2,100 sqft
2020-02-01 80 days 2,109 sqft
2020-03-01 71 days 2,062 sqft
2020-04-01 67 days 2,012 sqft
2020-05-01 68 days 2,049 sqft
2020-06-01 58 days 2,145 sqft
2020-07-01 50 days 2,109 sqft
2020-08-01 44 days 2,044 sqft
2020-09-01 45 days 2,010 sqft
2020-10-01 39 days 2,007 sqft
2020-11-01 42 days 1,965 sqft
2020-12-01 46 days 1,932 sqft
2021-01-01 54 days 1,988 sqft
2021-02-01 33 days 1,899 sqft
2021-03-01 32 days 1,883 sqft
2021-04-01 32 days 1,864 sqft
2021-05-01 19 days 1,802 sqft
2021-06-01 22 days 1,789 sqft
2021-07-01 26 days 1,789 sqft
2021-08-01 37 days 1,818 sqft
2021-09-01 37 days 1,784 sqft
2021-10-01 38 days 1,792 sqft
2021-11-01 42 days 1,830 sqft
2021-12-01 55 days 1,884 sqft
2022-01-01 57 days 1,848 sqft
2022-02-01 31 days 1,795 sqft
2022-03-01 25 days 1,721 sqft
2022-04-01 23 days 1,702 sqft
2022-05-01 22 days 1,812 sqft
2022-06-01 26 days 1,887 sqft
2022-07-01 30 days 1,936 sqft
2022-08-01 37 days 1,866 sqft
2022-09-01 44 days 1,876 sqft
2022-10-01 41 days 1,955 sqft
2022-11-01 50 days 1,969 sqft
2022-12-01 64 days 1,931 sqft
2023-01-01 64 days 1,942 sqft
2023-02-01 38 days 1,865 sqft
2023-03-01 40 days 1,891 sqft
2023-04-01 36 days 2,020 sqft
2023-05-01 36 days 2,091 sqft
2023-06-01 40 days 2,046 sqft
2023-07-01 42 days 2,054 sqft
2023-08-01 35 days 2,101 sqft
2023-09-01 37 days 2,030 sqft
2023-10-01 39 days 1,982 sqft
2023-11-01 44 days 2,030 sqft
2023-12-01 53 days 1,968 sqft
2024-01-01 60 days 1,877 sqft
2024-02-01 48 days 1,853 sqft
2024-03-01 45 days 1,891 sqft
2024-04-01 43 days 1,867 sqft
Columbus's median listing age (time on market) for 2024-04-01 was 43 days. This is 19% longer than the same period one year ago.

Columbus's median square footage for active listings during the 2024-04-01 period was 1,867 sqft. One year prior, the average listing was 2,020 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.