Columbus VA Loans

COLUMBUS, IN

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.

Columbus's 62 lenders originated 274 VA loans during 2021. The total origination value was $63,740,000, with an average VA loan value of $232,628.

Columbus VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbus averaged 5.77% 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 5.4% and one month ago for the week of 2022-04-08, the average rate was 5.12%.

The average rate one year ago was 3.04%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.58%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 38 2.93% $4,740
QUICKEN LOANS, LLC 22 2.50% $3,969
FREEDOM MORTGAGE CORPORATION 16 2.53% $2,546
HALLMARK HOME MORTGAGE, LLC 14 2.83% $4,700
CALIBER HOME LOANS, INC. 13 2.71% $5,440
RUOFF MORTGAGE COMPANY, INC. 11 3.16% $4,602
PENNYMAC LOAN SERVICES, LLC 9 2.57% $3,709
USAA Federal Savings Bank 8 2.95% $4,555
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 3.27% $5,333
NEW DAY FINANCIAL, LLC 7 3.16% $9,482
LAKEVIEW LOAN SERVICING, LLC 6 2.66% $2,124
VANDERBILT MORTGAGE AND FINANCE, INC. 6 3.08% $4,338
GVC MORTGAGE, INC. 5 2.95% $4,666
UNITED WHOLESALE MORTGAGE, LLC 5 2.45% $2,005
First Guaranty Mortgage Corporation 4 2.53% $2,630
LOANDEPOT.COM, LLC 4 2.84% $2,310
VILLAGE CAPITAL & INVESTMENT LLC 4 2.50% $3,209
First Financial Bank 3 2.92% $4,480
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.33% $5,451
AMERIFIRST FINANCIAL CORPORATION 3 2.79% $6,397
BROKER SOLUTIONS, INC. 3 2.75% $6,067
The Federal Savings Bank 3 2.71% $7,164
HOME POINT FINANCIAL CORPORATION 3 2.71% $7,466
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.19% $5,810
STEARNS LENDING, LLC 2 2.94% $4,369
PLANET HOME LENDING, LLC 2 2.50% $5,903
Wells Fargo Bank 2 2.56% $6,881
Mr. Cooper ( Nationstar Mortgage ) 2 2.75% $8,780
NEWREZ LLC 2 3.06% $6,321
TUCKER MORTGAGE, LLC 1 2.50% $2,545
UNION HOME MORTGAGE CORP. 1 2.75% $8,303
Wolfe Financial, Inc 1 2.50% $11,448
ACADEMY MORTGAGE CORPORATION 1 4.25% $4,357
Wyndham Capital Mortgage, Inc. 1 2.38% $1,600
AMERICAN FINANCIAL NETWORK, INC. 1 2.38% $4,558
AMERISAVE MORTGAGE CORPORATION 1 3.13% $7,497
Barrington Bank & Trust Company, N.A. 1 2.88% $1,780
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.00% $7,481
CROSSCOUNTRY MORTGAGE, LLC 1 2.25% $14,019
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 2.88% $8,992
EVERETT FINANCIAL, INC. 1 3.13% $10,515
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $10,122
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $4,140
First Federal Bank of Kansas City 1 2.25% $1,808
First Option Mortgage, LLC 1 2.75% $0
InterContinental Capital Group, Inc 1 2.25% $1,902
Low VA Rates, LLC 1 2.25% $2,135
Manufacturers and Traders Trust Company 1 2.75% $1,415
Mid-Continent Funding, Inc. 1 2.25% $16,920
MJW Financial LLC 1 2.25% $15,460
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.25% $3,778
MYCUMORTGAGE, LLC 1 3.00% $1,830
Nations Lending Corporation 1 2.75% $8,669
NAVY FEDERAL CREDIT UNION 1 2.63% $7,260
North American Savings Bank, F.S.B. 1 2.25% $3,946
PENTAGON FEDERAL CREDIT UNION 1 2.25% $8,237
PNC Bank 1 2.63% $15,566
RELIANCE FIRST CAPITAL, LLC 1 2.25% $9,191
Sierra Pacific Mortgage Company, Inc. 1 3.75% $8,084
SUN WEST MORTGAGE COMPANY, INC. 1 2.99% $16,419
The Home Loan Expert LLC 1 2.88% $10,392
TIAA, FSB 1 2.25% $368

The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 38 VA loans originated. Their average total fees are $4,740, which is $771 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Columbus VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,546), QUICKEN LOANS, LLC ($3,969), RUOFF MORTGAGE COMPANY, INC. ($4,602), HALLMARK HOME MORTGAGE, LLC ($4,700) and Mortgage Research Center, LLC ($4,740).

The lowest rate Columbus VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.50%), FREEDOM MORTGAGE CORPORATION (2.53%), CALIBER HOME LOANS, INC. (2.71%), HALLMARK HOME MORTGAGE, LLC (2.83%) and Mortgage Research Center, LLC (2.93%).


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 $247,400 (8.8%) $312,339 (9.8%) 0.00 277
2018-02-01 $242,345 (9.2%) $306,871 (7.0%) 0.00 234
2018-03-01 $252,000 (13.6%) $319,026 (9.7%) 0.00 223
2018-04-01 $259,900 (6.1%) $323,531 (8.9%) 0.00 212
2018-05-01 $254,900 (2.8%) $329,206 (9.5%) 0.00 228
2018-06-01 $249,900 (-0.4%) $323,083 (7.0%) 0.00 240
2018-07-01 $254,900 (-1.9%) $320,484 (2.3%) 0.00 251
2018-08-01 $249,900 (-2.0%) $316,268 (0.0%) 0.00 256
2018-09-01 $239,900 (-4.0%) $308,610 (-1.6%) 0.00 247
2018-10-01 $237,400 (2.6%) $307,413 (2.0%) 0.00 247
2018-11-01 $259,000 (13.2%) $323,284 (6.6%) 0.00 237
2018-12-01 $272,000 (17.5%) $339,734 (11.4%) 0.00 226
2019-01-01 $277,400 (12.1%) $347,979 (11.4%) 0.00 197
2019-02-01 $279,900 (15.5%) $350,884 (14.3%) 0.00 177
2019-03-01 $288,471 (14.5%) $354,421 (11.1%) 0.00 179
2019-04-01 $304,950 (17.3%) $363,648 (12.4%) 0.00 168
2019-05-01 $304,250 (19.4%) $360,969 (9.7%) 0.00 163
2019-06-01 $299,900 (20.0%) $363,415 (12.5%) 0.00 168
2019-07-01 $274,900 (7.9%) $340,317 (6.2%) 0.00 188
2019-08-01 $257,043 (2.9%) $316,330 (0.0%) 0.00 216
2019-09-01 $247,043 (3.0%) $303,138 (-1.8%) 0.00 213
2019-10-01 $249,000 (4.9%) $310,384 (1.0%) 0.00 200
2019-11-01 $259,990 (0.4%) $330,386 (2.2%) 0.00 177
2019-12-01 $262,495 (-3.5%) $327,622 (-3.6%) 0.00 151
2020-01-01 $254,500 (-8.3%) $321,926 (-7.5%) 0.00 140
2020-02-01 $250,000 (-10.7%) $327,692 (-6.6%) 0.00 148
2020-03-01 $260,950 (-9.5%) $334,048 (-5.8%) 0.00 136
2020-04-01 $249,900 (-18.1%) $309,303 (-14.9%) 0.00 149
2020-05-01 $249,900 (-17.9%) $308,977 (-14.4%) 0.00 152
2020-06-01 $242,400 (-19.2%) $305,737 (-15.9%) 0.00 148
2020-07-01 $246,500 (-10.3%) $322,396 (-5.3%) 0.00 142
2020-08-01 $250,000 (-2.7%) $312,647 (-1.2%) 0.00 134
2020-09-01 $265,995 (7.7%) $325,385 (7.3%) 0.00 119
2020-10-01 $269,000 (8.0%) $321,946 (3.7%) 0.00 118
2020-11-01 $279,900 (7.7%) $322,805 (-2.3%) 0.00 100
2020-12-01 $269,450 (2.7%) $308,566 (-5.8%) 0.00 84
2021-01-01 $259,900 (2.1%) $307,467 (-4.5%) 0.00 67
2021-02-01 $277,400 (11.0%) $312,628 (-4.6%) 0.00 45
2021-03-01 $299,900 (14.9%) $345,440 (3.4%) 0.00 49
2021-04-01 $299,900 (20.0%) $352,406 (13.9%) 0.00 51
2021-05-01 $310,000 (24.1%) $368,152 (19.2%) 0.00 65
2021-06-01 $282,450 (16.5%) $367,968 (20.4%) 0.00 71
2021-07-01 $280,000 (13.6%) $352,373 (9.3%) 0.00 87
2021-08-01 $267,400 (7.0%) $339,909 (8.7%) 0.00 107
2021-09-01 $259,900 (-2.3%) $353,770 (8.7%) 0.00 108
2021-10-01 $279,900 (4.1%) $354,177 (10.0%) 0.00 101
2021-11-01 $304,500 (8.8%) $381,475 (18.2%) 0.00 80
2021-12-01 $334,245 (24.1%) $354,448 (14.9%) 0.00 83
2022-01-01 $329,900 (26.9%) $336,427 (9.4%) 0.00 68
2022-02-01 $339,900 (22.5%) $357,789 (14.5%) 0.00 66
2022-03-01 $336,250 (12.1%) $725,999 (110.2%) 0.00 67
2022-04-01 $299,900 (0.0%) $650,267 (84.5%) 0.00 79
Columbus's median listing price for 2022-04-01 was $299,900, a difference of $0 (0.0%) versus the prior year and $-36,350 versus the prior month.

Columbus's median listing price comes in at 0% of the national average.

Columbus's average listing price for 2022-04-01 was $650,267, a difference of $297,861 (84.5%) versus the prior year and $-75,732 versus the prior month.

For the 2022-04-01 period, Columbus had 79 MLS listings, a difference of 12 listings (18%) versus the prior month and 28 listings (55%) 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 0 days 2,470 sqft
2018-02-01 0 days 2,416 sqft
2018-03-01 0 days 2,702 sqft
2018-04-01 0 days 2,725 sqft
2018-05-01 0 days 2,733 sqft
2018-06-01 0 days 2,693 sqft
2018-07-01 0 days 2,740 sqft
2018-08-01 0 days 2,685 sqft
2018-09-01 0 days 2,464 sqft
2018-10-01 0 days 2,493 sqft
2018-11-01 0 days 2,615 sqft
2018-12-01 0 days 2,743 sqft
2019-01-01 0 days 2,629 sqft
2019-02-01 0 days 2,688 sqft
2019-03-01 0 days 2,890 sqft
2019-04-01 0 days 3,001 sqft
2019-05-01 0 days 2,869 sqft
2019-06-01 0 days 2,704 sqft
2019-07-01 0 days 2,489 sqft
2019-08-01 0 days 2,435 sqft
2019-09-01 0 days 2,476 sqft
2019-10-01 0 days 2,697 sqft
2019-11-01 0 days 2,772 sqft
2019-12-01 0 days 2,723 sqft
2020-01-01 0 days 2,742 sqft
2020-02-01 0 days 2,712 sqft
2020-03-01 0 days 2,820 sqft
2020-04-01 0 days 2,740 sqft
2020-05-01 0 days 2,774 sqft
2020-06-01 0 days 2,515 sqft
2020-07-01 0 days 2,800 sqft
2020-08-01 0 days 2,680 sqft
2020-09-01 0 days 2,376 sqft
2020-10-01 0 days 2,322 sqft
2020-11-01 0 days 2,356 sqft
2020-12-01 0 days 2,154 sqft
2021-01-01 0 days 2,218 sqft
2021-02-01 0 days 2,223 sqft
2021-03-01 0 days 2,271 sqft
2021-04-01 0 days 2,240 sqft
2021-05-01 0 days 2,457 sqft
2021-06-01 0 days 2,404 sqft
2021-07-01 0 days 2,344 sqft
2021-08-01 0 days 2,264 sqft
2021-09-01 0 days 2,210 sqft
2021-10-01 0 days 2,200 sqft
2021-11-01 0 days 2,369 sqft
2021-12-01 0 days 2,078 sqft
2022-01-01 0 days 1,862 sqft
2022-02-01 0 days 1,867 sqft
2022-03-01 0 days 2,182 sqft
2022-04-01 0 days 2,076 sqft
Columbus's median listing age (time on market) for 2022-04-01 was 0 days.

Columbus's median square footage for active listings during the 2022-04-01 period was 2,076 sqft. One year prior, the average listing was 2,240 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.