Columbus VA Loan Rates, Closing Costs & Stats

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 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 32 lenders originated 86 VA loans during 2023. The total origination value was $25,350,000, with an average VA loan value of $294,767.

Columbus VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbus averaged 6.72% 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 $5,207.

The average rate for the prior week (2024-05-10) was 6.63% and one month ago for the week of 2024-04-12, the average rate was 6.91%.

The average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.4%.

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 22 6.72% $8,562
VANDERBILT MORTGAGE AND FINANCE, INC. 9 5.72% $8,277
NAVY FEDERAL CREDIT UNION 4 5.75% $7,194
USAA Federal Savings Bank 4 5.69% $8,508
RUOFF MORTGAGE COMPANY, INC. 4 6.56% $8,501
QUICKEN LOANS, LLC 3 5.54% $8,474
AMERISAVE MORTGAGE CORPORATION 2 5.88% $15,220
Barrington Bank & Trust Company, N.A. 2 7.00% $3,288
FIRST COMMUNITY MORTGAGE, INC. 2 6.38% $7,710
GVC MORTGAGE, INC. 2 6.94% $1,491
HALLMARK HOME MORTGAGE, LLC 2 5.63% $10,930
MJW Financial LLC 2 6.69% $5,941
NBKC BANK 2 6.00% $11,647
NEW DAY FINANCIAL, LLC 2 8.00% $7,618
UNITED WHOLESALE MORTGAGE, LLC 1 6.00% $375
First Financial Bank 1 6.25% $4,528
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $8,056
Fifth Third Bank 1 6.38% $6,195
Blue Ridge Bank 1 7.25% $25,415
Bank of England 1 6.75% $8,641
NEWREZ LLC 1 6.75% $16,268
Northwest Bank 1 6.38% $7,189
PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,808
PENTAGON FEDERAL CREDIT UNION 1 6.50% $9,157
DIRECT MORTGAGE LOANS, LLC 1 7.13% $12,150
CARDINAL FINANCIAL 1 5.75% $16,761
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $7,445
FREEDOM MORTGAGE CORPORATION 1 7.25% $13,403
GUARANTEED RATE, INC. 1 6.18% $12,480
The Federal Savings Bank 1 6.75% $15,014
Union Savings Bank 1 7.00% $1,924
LOANDEPOT.COM, LLC 1 5.00% $10,932

The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $8,562, which is $285 higher than the next largest lender, VANDERBILT MORTGAGE AND FINANCE, INC..

The lowest fee Columbus VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,562), .

The lowest rate Columbus VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.72%), .


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 $230,300 (5.2%) $286,489 (4.4%) 0.00 234
2018-02-01 $222,950 (1.9%) $279,744 (0.2%) 0.00 209
2018-03-01 $239,900 (9.3%) $294,448 (3.5%) 0.00 198
2018-04-01 $259,650 (5.6%) $304,011 (4.9%) 0.00 189
2018-05-01 $241,195 (-2.3%) $303,269 (2.3%) 0.00 198
2018-06-01 $239,900 (-3.6%) $302,124 (2.0%) 0.00 203
2018-07-01 $244,925 (-2.0%) $302,586 (-0.7%) 0.00 215
2018-08-01 $235,925 (-5.1%) $301,914 (0.2%) 0.00 221
2018-09-01 $224,900 (-5.3%) $297,276 (-0.1%) 0.00 212
2018-10-01 $231,875 (3.1%) $296,413 (2.5%) 0.00 217
2018-11-01 $242,473 (11.7%) $311,288 (9.6%) 0.00 213
2018-12-01 $259,900 (22.2%) $325,577 (15.8%) 0.00 202
2019-01-01 $271,050 (17.7%) $334,679 (16.8%) 0.00 185
2019-02-01 $274,900 (23.3%) $337,067 (20.5%) 0.00 171
2019-03-01 $284,800 (18.7%) $339,222 (15.2%) 0.00 169
2019-04-01 $303,950 (17.1%) $347,570 (14.3%) 0.00 160
2019-05-01 $294,500 (22.1%) $342,044 (12.8%) 0.00 155
2019-06-01 $289,450 (20.7%) $338,349 (12.0%) 0.00 155
2019-07-01 $259,900 (6.1%) $322,916 (6.7%) 0.00 177
2019-08-01 $249,900 (5.9%) $315,598 (4.5%) 0.00 191
2019-09-01 $249,900 (11.1%) $314,095 (5.7%) 0.00 197
2019-10-01 $249,900 (7.8%) $312,866 (5.6%) 0.00 199
2019-11-01 $255,000 (5.2%) $318,813 (2.4%) 0.00 173
2019-12-01 $257,495 (-0.9%) $321,297 (-1.3%) 0.00 151
2020-01-01 $249,900 (-7.8%) $307,654 (-8.1%) 0.00 141
2020-02-01 $249,900 (-9.1%) $312,716 (-7.2%) 0.00 145
2020-03-01 $256,450 (-10.0%) $326,556 (-3.7%) 0.00 132
2020-04-01 $249,425 (-17.9%) $308,188 (-11.3%) 0.00 145
2020-05-01 $249,900 (-15.1%) $303,723 (-11.2%) 0.00 153
2020-06-01 $242,400 (-16.3%) $304,782 (-9.9%) 0.00 149
2020-07-01 $245,300 (-5.6%) $312,885 (-3.1%) 0.00 139
2020-08-01 $247,200 (-1.1%) $305,017 (-3.4%) 0.00 134
2020-09-01 $254,973 (2.0%) $306,280 (-2.5%) 0.00 115
2020-10-01 $259,900 (4.0%) $312,918 (0.0%) 0.00 116
2020-11-01 $262,000 (2.8%) $314,088 (-1.5%) 0.00 101
2020-12-01 $256,175 (-0.5%) $302,053 (-6.0%) 0.00 83
2021-01-01 $262,450 (5.0%) $307,956 (0.1%) 0.00 66
2021-02-01 $273,650 (9.5%) $312,365 (-0.1%) 0.00 43
2021-03-01 $294,900 (15.0%) $331,900 (1.6%) 0.00 48
2021-04-01 $297,425 (19.2%) $347,618 (12.8%) 0.00 48
2021-05-01 $299,900 (20.0%) $357,030 (17.6%) 0.00 63
2021-06-01 $272,473 (12.4%) $362,263 (18.9%) 0.00 72
2021-07-01 $272,450 (11.1%) $341,997 (9.3%) 0.00 85
2021-08-01 $266,150 (7.7%) $335,044 (9.8%) 0.00 107
2021-09-01 $253,425 (-0.6%) $343,271 (12.1%) 0.00 107
2021-10-01 $270,450 (4.1%) $343,877 (9.9%) 0.00 100
2021-11-01 $297,200 (13.4%) $368,416 (17.3%) 0.00 81
2021-12-01 $319,445 (24.7%) $346,824 (14.8%) 0.00 82
2022-01-01 $329,445 (25.5%) $333,005 (8.1%) 0.00 68
2022-02-01 $334,900 (22.4%) $346,599 (11.0%) 0.00 67
2022-03-01 $345,325 (17.1%) $710,115 (114.0%) 0.00 65
2022-04-01 $333,995 (12.3%) $671,222 (93.1%) 0.00 75
2022-05-01 $367,423 (22.5%) $650,219 (82.1%) 0.00 91
2022-06-01 $374,966 (37.6%) $626,686 (73.0%) 0.00 103
2022-07-01 $369,900 (35.8%) $583,747 (70.7%) 0.00 136
2022-08-01 $346,000 (30.0%) $576,347 (72.0%) 0.00 135
2022-09-01 $337,000 (33.0%) $564,935 (64.6%) 0.00 132
2022-10-01 $329,000 (21.7%) $570,637 (65.9%) 0.00 140
2022-11-01 $343,698 (15.7%) $571,901 (55.2%) 0.00 144
2022-12-01 $339,900 (6.4%) $374,658 (8.0%) 0.00 121
2023-01-01 $339,450 (3.0%) $384,674 (15.5%) 0.00 107
2023-02-01 $339,900 (1.5%) $417,312 (20.4%) 0.00 101
2023-03-01 $379,500 (9.9%) $458,548 (-35.4%) 0.00 95
2023-04-01 $379,500 (13.6%) $460,472 (-31.4%) 0.00 92
2023-05-01 $379,500 (3.3%) $455,824 (-29.9%) 0.00 93
2023-06-01 $392,200 (4.6%) $460,208 (-26.6%) 0.00 111
2023-07-01 $374,950 (1.4%) $424,689 (-27.3%) 0.00 104
2023-08-01 $349,475 (1.0%) $392,000 (-32.0%) 0.00 95
2023-09-01 $345,000 (2.4%) $398,079 (-29.5%) 0.00 101
2023-10-01 $339,900 (3.3%) $387,053 (-32.2%) 0.00 126
2023-11-01 $327,400 (-4.7%) $373,711 (-34.7%) 0.00 127
2023-12-01 $299,900 (-11.8%) $354,632 (-5.4%) 0.00 120
2024-01-01 $299,900 (-11.7%) $348,498 (-9.4%) 0.00 110
2024-02-01 $305,200 (-10.2%) $353,803 (-15.2%) 0.00 90
2024-03-01 $327,450 (-13.7%) $382,850 (-16.5%) 0.00 98
2024-04-01 $349,950 (-7.8%) $624,344 (35.6%) 0.00 99
Columbus's median listing price for 2024-04-01 was $349,950, a difference of $-29,550 (-7.8%) versus the prior year and $22,500 versus the prior month.

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

Columbus's average listing price for 2024-04-01 was $624,344, a difference of $163,872 (35.6%) versus the prior year and $241,494 versus the prior month.

For the 2024-04-01 period, Columbus had 99 MLS listings, a difference of 1 listings (1%) versus the prior month and 7 listings (8%) 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 2,340 sqft
2018-02-01 0 days 2,330 sqft
2018-03-01 0 days 2,571 sqft
2018-04-01 0 days 2,693 sqft
2018-05-01 0 days 2,739 sqft
2018-06-01 0 days 2,490 sqft
2018-07-01 0 days 2,604 sqft
2018-08-01 0 days 2,549 sqft
2018-09-01 0 days 2,405 sqft
2018-10-01 0 days 2,416 sqft
2018-11-01 0 days 2,529 sqft
2018-12-01 0 days 2,656 sqft
2019-01-01 0 days 2,584 sqft
2019-02-01 0 days 2,631 sqft
2019-03-01 0 days 2,715 sqft
2019-04-01 0 days 2,864 sqft
2019-05-01 0 days 2,766 sqft
2019-06-01 0 days 2,624 sqft
2019-07-01 0 days 2,484 sqft
2019-08-01 0 days 2,509 sqft
2019-09-01 0 days 2,610 sqft
2019-10-01 0 days 2,688 sqft
2019-11-01 0 days 2,766 sqft
2019-12-01 0 days 2,734 sqft
2020-01-01 0 days 2,712 sqft
2020-02-01 0 days 2,673 sqft
2020-03-01 0 days 2,802 sqft
2020-04-01 0 days 2,741 sqft
2020-05-01 0 days 2,774 sqft
2020-06-01 0 days 2,600 sqft
2020-07-01 0 days 2,778 sqft
2020-08-01 0 days 2,577 sqft
2020-09-01 0 days 2,316 sqft
2020-10-01 0 days 2,335 sqft
2020-11-01 0 days 2,259 sqft
2020-12-01 0 days 2,112 sqft
2021-01-01 0 days 2,192 sqft
2021-02-01 0 days 2,194 sqft
2021-03-01 0 days 2,324 sqft
2021-04-01 0 days 2,200 sqft
2021-05-01 0 days 2,350 sqft
2021-06-01 0 days 2,342 sqft
2021-07-01 0 days 2,344 sqft
2021-08-01 0 days 2,238 sqft
2021-09-01 0 days 2,151 sqft
2021-10-01 0 days 2,151 sqft
2021-11-01 0 days 2,366 sqft
2021-12-01 0 days 2,000 sqft
2022-01-01 0 days 1,920 sqft
2022-02-01 0 days 1,884 sqft
2022-03-01 0 days 2,163 sqft
2022-04-01 0 days 2,028 sqft
2022-05-01 0 days 2,207 sqft
2022-06-01 0 days 2,365 sqft
2022-07-01 0 days 2,465 sqft
2022-08-01 0 days 2,428 sqft
2022-09-01 0 days 2,398 sqft
2022-10-01 0 days 2,282 sqft
2022-11-01 0 days 2,310 sqft
2022-12-01 0 days 2,240 sqft
2023-01-01 0 days 2,147 sqft
2023-02-01 0 days 2,043 sqft
2023-03-01 0 days 2,281 sqft
2023-04-01 0 days 2,399 sqft
2023-05-01 0 days 2,259 sqft
2023-06-01 0 days 2,380 sqft
2023-07-01 0 days 2,386 sqft
2023-08-01 0 days 2,446 sqft
2023-09-01 0 days 2,397 sqft
2023-10-01 0 days 2,302 sqft
2023-11-01 0 days 2,236 sqft
2023-12-01 0 days 2,112 sqft
2024-01-01 0 days 2,093 sqft
2024-02-01 0 days 2,072 sqft
2024-03-01 0 days 2,211 sqft
2024-04-01 0 days 2,334 sqft
Columbus's median listing age (time on market) for 2024-04-01 was 0 days.

Columbus's median square footage for active listings during the 2024-04-01 period was 2,334 sqft. One year prior, the average listing was 2,399 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.