Columbus VA Loan Rates, Closing Costs & Stats

COLUMBUS, GA-AL

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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.

    Columbus's 121 lenders originated 2,062 VA loans during 2022. The total origination value was $540,640,000, with an average VA loan value of $262,192.

    Columbus VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbus averaged 6.69% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Columbus's average VA mortgage closing costs are $5,317.

    The average rate for the prior week (2023-09-15) was 6.77% and one month ago for the week of 2023-08-18, the average rate was 6.95%.

    The average rate one year ago was 5.41%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.5%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 357 5.28% $6,544
    QUICKEN LOANS, LLC 109 4.46% $8,834
    HOMESTAR FINANCIAL CORPORATION 99 5.00% $10,690
    NAVY FEDERAL CREDIT UNION 83 3.97% $5,229
    UNITED WHOLESALE MORTGAGE, LLC 78 4.76% $6,799
    FREEDOM MORTGAGE CORPORATION 75 4.67% $8,446
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 74 4.72% $8,853
    LOANDEPOT.COM, LLC 64 4.71% $8,276
    USAA Federal Savings Bank 62 4.73% $8,787
    CMG MORTGAGE, INC. 55 5.32% $9,874
    BROKER SOLUTIONS, INC. 52 4.70% $10,051
    PENNYMAC LOAN SERVICES, LLC 52 3.34% $7,047
    ENVOY MORTGAGE, LTD 46 4.90% $8,484
    VANDERBILT MORTGAGE AND FINANCE, INC. 45 4.44% $8,297
    NEW DAY FINANCIAL, LLC 42 5.11% $8,165
    CERTAINTY HOME LOANS, LLC 37 4.36% $7,042
    MOVEMENT MORTGAGE, LLC 36 4.28% $7,451
    GUILD MORTGAGE COMPANY 36 4.51% $9,028
    CROSSCOUNTRY MORTGAGE, LLC 35 5.47% $5,577
    Northpointe Bank 31 4.98% $8,307
    MORTGAGE SOLUTIONS OF COLORADO, LLC 27 5.23% $5,241
    Synovus Bank 27 4.59% $8,870
    PENTAGON FEDERAL CREDIT UNION 24 3.53% $5,160
    EVERETT FINANCIAL, INC. 21 5.32% $4,459
    Mr. Cooper ( Nationstar Mortgage ) 20 5.01% $10,018
    The Federal Savings Bank 20 5.04% $13,010
    RUOFF MORTGAGE COMPANY, INC. 19 5.03% $7,622
    INTERLINC MORTGAGE SERVICES, LLC 17 4.35% $9,144
    Wells Fargo Bank 16 4.26% $4,011
    CLEARPATH LENDING 14 4.27% $9,390
    AMERISAVE MORTGAGE CORPORATION 13 4.34% $8,791
    NEWREZ LLC 13 4.35% $7,804
    GUARANTEED RATE, INC. 12 5.29% $9,198
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 5.09% $6,636
    Carrington Mortgage Services, LLC 12 4.75% $11,679
    VILLAGE CAPITAL MORTGAGE 11 4.49% $9,125
    Mid-Continent Funding, Inc. 10 4.86% $8,710
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 4.87% $7,949
    LAKEVIEW LOAN SERVICING, LLC 9 3.46% $2,313
    HOME POINT FINANCIAL CORPORATION 9 4.76% $5,011
    Barrington Bank & Trust Company, N.A. 8 4.48% $5,183
    Trustmark National Bank 8 5.09% $7,062
    FirstBank 7 4.64% $6,863
    MUTUAL OF OMAHA MORTGAGE, INC. 6 4.81% $11,259
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 5.23% $10,601
    CALIBER HOME LOANS, INC. 6 4.75% $6,073
    Renasant Bank 5 5.73% $3,397
    Flagstar Bank, FSB 5 5.15% $9,283
    CARDINAL FINANCIAL 5 4.85% $11,534
    LOANPAL, LLC 5 4.63% $14,108
    DAS Acquisition Company, LLC 4 4.88% $9,240
    Magnolia Bank 4 4.56% $15,265
    Plains Commerce Bank 4 5.22% $6,728
    North American Savings Bank, F.S.B. 4 5.25% $2,782
    Truist 3 4.97% $4,870
    Prosperity Home Mortgage, LLC 3 5.46% $7,392
    PLANET HOME LENDING, LLC 3 2.92% $2,102
    SOVEREIGN LENDING GROUP INCORPORATED 3 4.83% $9,050
    NATIONS DIRECT MORTGAGE, LLC 3 3.96% $6,290
    Low VA Rates, LLC 3 4.88% $7,654
    STOCKTON MORTGAGE CORPORATION 2 3.25% $2,693
    GMFS LLC 2 5.19% $9,872
    FIRST COMMUNITY MORTGAGE, INC. 2 4.38% $3,494
    ACOPIA, LLC 2 4.50% $6,726
    Nations Lending Corporation 2 4.69% $6,814
    OPEN MORTGAGE, LLC 2 5.50% $14,850
    Century Mortgage Company DBA Century Lending Company 2 3.75% $6,318
    RELIANCE FIRST CAPITAL, LLC 2 3.94% $8,864
    Sierra Pacific Mortgage Company, Inc. 2 3.81% $3,112
    GUARANTEED RATE AFFINITY, LLC 2 3.73% $5,113
    Texana Bank 2 5.00% $8,710
    BAY EQUITY LLC 2 4.31% $10,307
    U.S. Bank 2 4.94% $4,115
    Wyndham Capital Mortgage, Inc. 2 5.19% $8,256
    First Guaranty Mortgage Corporation 1 4.63% $6,372
    Credence Funding Corporation 1 4.75% $14,563
    Old National Bank 1 2.75% $996
    UNION HOME MORTGAGE CORP. 1 5.75% $12,415
    PANORAMA MORTGAGE GROUP, LLC 1 5.75% $9,007
    Paramount Residential Mortgage Group, Inc. 1 4.88% $12,764
    CONTOUR MORTGAGE CORPORATION 1 6.25% $9,151
    Colony Bank 1 4.25% $3,471
    MORTGAGE INVESTORS GROUP, INC. 1 5.50% $11,439
    MILEND, INC. 1 6.75% $7,985
    PNC Bank 1 4.63% $13,994
    PREMIA MORTGAGE, LLC 1 6.13% $0
    PREMIER LENDING, INC. 1 5.25% $5,269
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.13% $12,271
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $9,465
    First Mortgage Solutions, LLC 1 3.00% $9,482
    First Reliance Bank 1 6.63% $7,900
    RADIUS FINANCIAL GROUP INC. 1 5.63% $11,362
    Red River Bank 1 5.25% $5,750
    Regions Bank 1 2.75% $16,305
    Armed Forces Bank 1 5.00% $2,710
    LENOX FINANCIAL MORTGAGE CORPORATION 1 3.50% $9,117
    RESIDENTIAL HOME FUNDING CORP. 1 3.75% $11,717
    ROYAL UNITED MORTGAGE LLC 1 6.00% $7,524
    Capital City Home Loans, LLC 1 5.63% $7,419
    American Mortgage & Equity Consultants, Inc. 1 6.99% $13,992
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.75% $8,066
    Lakeview Community Capital, LLC 1 3.50% $2,270
    ANGEL OAK HOME LOANS LLC 1 5.13% $12,217
    SUMMIT FUNDING, INC. 1 3.63% $12,909
    GENEVA FINANCIAL, LLC 1 6.50% $1,351
    VAN DYK MORTGAGE CORPORATION 1 5.63% $7,093
    The Central Trust Bank 1 2.75% $13,806
    BNC National Bank 1 2.75% $15,848
    THRIVE MORTGAGE, LLC 1 5.38% $6,992
    TJC Mortgage, Inc. 1 3.75% $3,948
    GoPrime Mortgage, Inc. 1 6.25% $12,691
    M&T Bank 1 5.00% $4,644
    BECKAM FUNDING CORP. 1 5.75% $4,860
    NATIONS RELIABLE LENDING, LLC 1 4.25% $1,221
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $11,852
    FINANCE OF AMERICA MORTGAGE LLC 1 3.00% $14,172
    NBH Bank 1 5.63% $8,361
    NBKC BANK 1 6.38% $5,672
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $16,708
    DATA MORTGAGE, INC. 1 6.13% $600
    First Federal Bank 1 3.13% $3,965

    The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 357 VA loans originated. Their average total fees are $6,544, which is $2,290 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Columbus VA lenders (with over 10 loans originated) are Wells Fargo Bank ($4,011), EVERETT FINANCIAL, INC. ($4,459), PENTAGON FEDERAL CREDIT UNION ($5,160), NAVY FEDERAL CREDIT UNION ($5,229) and MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,241).

    The lowest rate Columbus VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.34%), PENTAGON FEDERAL CREDIT UNION (3.53%), NAVY FEDERAL CREDIT UNION (3.97%), Wells Fargo Bank (4.26%) and CLEARPATH LENDING (4.27%).

    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 $159,220 (11.4%) $205,702 (12.6%) 0.59 1,474
    2018-02-01 $158,348 (8.5%) $204,471 (10.7%) 0.58 1,477
    2018-03-01 $159,500 (6.4%) $206,866 (10.5%) 0.56 1,484
    2018-04-01 $162,813 (5.8%) $211,395 (11.7%) 0.55 1,511
    2018-05-01 $164,000 (5.9%) $212,128 (10.5%) 0.55 1,528
    2018-06-01 $159,900 (3.2%) $204,209 (5.2%) 0.53 1,549
    2018-07-01 $158,945 (2.6%) $204,826 (4.1%) 0.53 1,556
    2018-08-01 $157,225 (1.4%) $200,421 (1.4%) 0.53 1,567
    2018-09-01 $160,000 (3.2%) $204,892 (1.4%) 0.54 1,536
    2018-10-01 $159,950 (3.6%) $206,333 (2.9%) 0.54 1,531
    2018-11-01 $159,000 (1.7%) $207,918 (3.5%) 0.54 1,532
    2018-12-01 $159,900 (2.9%) $210,069 (3.7%) 0.55 1,537
    2019-01-01 $159,995 (0.5%) $212,197 (3.2%) 0.55 1,438
    2019-02-01 $164,150 (3.7%) $212,552 (4.0%) 0.55 1,426
    2019-03-01 $164,900 (3.4%) $218,519 (5.6%) 0.54 1,325
    2019-04-01 $163,075 (0.2%) $222,522 (5.3%) 0.52 1,259
    2019-05-01 $159,950 (-2.5%) $226,651 (6.9%) 0.50 1,222
    2019-06-01 $164,900 (3.1%) $227,361 (11.3%) 0.52 1,202
    2019-07-01 $166,611 (4.8%) $231,974 (13.3%) 0.52 1,113
    2019-08-01 $176,378 (12.2%) $237,010 (18.3%) 0.56 1,084
    2019-09-01 $178,596 (11.6%) $240,297 (17.3%) 0.57 1,076
    2019-10-01 $185,110 (15.7%) $245,117 (18.8%) 0.60 1,071
    2019-11-01 $189,900 (19.4%) $246,864 (18.7%) 0.62 1,047
    2019-12-01 $186,725 (16.8%) $246,936 (17.6%) 0.62 1,018
    2020-01-01 $183,700 (14.8%) $246,034 (16.0%) 0.61 967
    2020-02-01 $189,700 (15.6%) $251,525 (18.3%) 0.62 920
    2020-03-01 $181,588 (10.1%) $246,354 (12.7%) 0.57 872
    2020-04-01 $179,200 (9.9%) $243,473 (9.4%) 0.56 868
    2020-05-01 $179,900 (12.5%) $248,829 (9.8%) 0.55 766
    2020-06-01 $199,900 (21.2%) $261,914 (15.2%) 0.59 687
    2020-07-01 $199,675 (19.9%) $261,383 (12.7%) 0.58 619
    2020-08-01 $199,900 (13.3%) $268,451 (13.3%) 0.57 563
    2020-09-01 $193,450 (8.3%) $288,444 (20.0%) 0.55 484
    2020-10-01 $195,079 (5.4%) $287,590 (17.3%) 0.56 503
    2020-11-01 $193,700 (2.0%) $275,369 (11.6%) 0.57 522
    2020-12-01 $179,925 (-3.6%) $272,152 (10.2%) 0.54 511
    2021-01-01 $194,500 (5.9%) $279,514 (13.6%) 0.58 458
    2021-02-01 $188,650 (-0.6%) $271,684 (8.0%) 0.55 432
    2021-03-01 $186,850 (2.9%) $272,904 (10.8%) 0.53 389
    2021-04-01 $191,000 (6.6%) $286,550 (17.7%) 0.52 367
    2021-05-01 $189,600 (5.4%) $275,727 (10.8%) 0.50 369
    2021-06-01 $186,350 (-6.8%) $271,458 (3.6%) 0.49 396
    2021-07-01 $185,000 (-7.4%) $281,500 (7.7%) 0.49 483
    2021-08-01 $189,900 (-5.0%) $279,302 (4.0%) 0.51 497
    2021-09-01 $189,900 (-1.8%) $292,290 (1.3%) 0.51 523
    2021-10-01 $189,900 (-2.7%) $283,921 (-1.3%) 0.51 522
    2021-11-01 $186,850 (-3.5%) $286,837 (4.2%) 0.50 536
    2021-12-01 $189,450 (5.3%) $296,387 (8.9%) 0.51 436
    2022-01-01 $187,900 (-3.4%) $318,215 (13.9%) 0.51 356
    2022-02-01 $183,625 (-2.7%) $316,498 (16.5%) 0.48 328
    2022-03-01 $185,250 (-0.9%) $308,961 (13.2%) 0.46 331
    2022-04-01 $174,950 (-8.4%) $275,772 (-3.8%) 0.42 356
    2022-05-01 $200,475 (5.7%) $280,407 (1.7%) 0.46 411
    2022-06-01 $227,950 (22.3%) $299,125 (10.2%) 0.51 464
    2022-07-01 $235,000 (27.0%) $299,869 (6.5%) 0.53 537
    2022-08-01 $219,900 (15.8%) $336,138 (20.4%) 0.51 546
    2022-09-01 $221,350 (16.6%) $335,742 (14.9%) 0.52 552
    2022-10-01 $229,900 (21.1%) $300,536 (5.9%) 0.54 600
    2022-11-01 $232,400 (24.4%) $293,745 (2.4%) 0.56 586
    2022-12-01 $225,000 (18.8%) $293,745 (-0.9%) 0.56 529
    2023-01-01 $230,000 (22.4%) $348,330 (9.5%) 0.57 437
    2023-02-01 $215,000 (17.1%) $341,756 (8.0%) 0.52 420
    2023-03-01 $224,900 (21.4%) $354,793 (14.8%) 0.53 401
    2023-04-01 $246,000 (40.6%) $378,778 (37.4%) 0.57 395
    2023-05-01 $274,500 (36.9%) $382,418 (36.4%) 0.62 410
    2023-06-01 $269,950 (18.4%) $386,190 (29.1%) 0.61 415
    2023-07-01 $270,500 (15.1%) $376,299 (25.5%) 0.61 424
    2023-08-01 $276,450 (25.7%) $374,029 (11.3%) 0.63 446
    Columbus's median listing price for 2023-08-01 was $276,450, a difference of $56,550 (25.7%) versus the prior year and $5,950 versus the prior month.

    Columbus's median listing price comes in at 63% of the national average.

    Columbus's average listing price for 2023-08-01 was $374,029, a difference of $37,891 (11.3%) versus the prior year and $-2,270 versus the prior month.

    For the 2023-08-01 period, Columbus had 446 MLS listings, a difference of 22 listings (5%) versus the prior month and -100 listings (-18%) 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 92 days 1,924 sqft
    2018-02-01 86 days 1,933 sqft
    2018-03-01 74 days 1,929 sqft
    2018-04-01 73 days 1,929 sqft
    2018-05-01 72 days 1,972 sqft
    2018-06-01 68 days 1,937 sqft
    2018-07-01 73 days 1,915 sqft
    2018-08-01 80 days 1,922 sqft
    2018-09-01 84 days 1,936 sqft
    2018-10-01 85 days 1,951 sqft
    2018-11-01 91 days 1,940 sqft
    2018-12-01 96 days 1,929 sqft
    2019-01-01 101 days 1,925 sqft
    2019-02-01 96 days 1,937 sqft
    2019-03-01 91 days 1,948 sqft
    2019-04-01 80 days 1,948 sqft
    2019-05-01 73 days 1,939 sqft
    2019-06-01 67 days 2,000 sqft
    2019-07-01 66 days 2,013 sqft
    2019-08-01 68 days 2,030 sqft
    2019-09-01 70 days 2,055 sqft
    2019-10-01 70 days 2,098 sqft
    2019-11-01 67 days 2,134 sqft
    2019-12-01 74 days 2,114 sqft
    2020-01-01 82 days 2,098 sqft
    2020-02-01 80 days 2,109 sqft
    2020-03-01 71 days 2,060 sqft
    2020-04-01 67 days 2,013 sqft
    2020-05-01 69 days 2,047 sqft
    2020-06-01 58 days 2,140 sqft
    2020-07-01 51 days 2,104 sqft
    2020-08-01 44 days 2,046 sqft
    2020-09-01 45 days 2,012 sqft
    2020-10-01 39 days 2,004 sqft
    2020-11-01 42 days 1,962 sqft
    2020-12-01 46 days 1,931 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 1,866 sqft
    2021-05-01 19 days 1,819 sqft
    2021-06-01 22 days 1,814 sqft
    2021-07-01 26 days 1,790 sqft
    2021-08-01 37 days 1,821 sqft
    2021-09-01 37 days 1,785 sqft
    2021-10-01 38 days 1,800 sqft
    2021-11-01 42 days 1,830 sqft
    2021-12-01 55 days 1,895 sqft
    2022-01-01 57 days 1,849 sqft
    2022-02-01 31 days 1,795 sqft
    2022-03-01 25 days 1,737 sqft
    2022-04-01 23 days 1,713 sqft
    2022-05-01 22 days 1,819 sqft
    2022-06-01 26 days 1,890 sqft
    2022-07-01 30 days 1,936 sqft
    2022-08-01 37 days 1,866 sqft
    2022-09-01 44 days 1,879 sqft
    2022-10-01 41 days 1,955 sqft
    2022-11-01 50 days 1,970 sqft
    2022-12-01 64 days 1,943 sqft
    2023-01-01 64 days 1,964 sqft
    2023-02-01 38 days 1,872 sqft
    2023-03-01 40 days 1,891 sqft
    2023-04-01 36 days 2,019 sqft
    2023-05-01 36 days 2,084 sqft
    2023-06-01 40 days 2,039 sqft
    2023-07-01 43 days 2,052 sqft
    2023-08-01 35 days 2,104 sqft
    Columbus's median listing age (time on market) for 2023-08-01 was 35 days. This is -5% shorter than the same period one year ago.

    Columbus's median square footage for active listings during the 2023-08-01 period was 2,104 sqft. One year prior, the average listing was 1,866 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.