Columbus VA Loan Rates, Closing Costs & Stats

COLUMBUS, IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.98% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Columbus's average VA mortgage closing costs are $5,207.

    The average rate for the prior week (2024-04-12) was 6.81% and one month ago for the week of 2024-03-15, the average rate was 6.77%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    Columbus's median listing price for 2024-03-01 was $327,450, a difference of $-52,050 (-13.7%) versus the prior year and $22,250 versus the prior month.

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

    Columbus's average listing price for 2024-03-01 was $382,850, a difference of $-75,698 (-16.5%) versus the prior year and $29,047 versus the prior month.

    For the 2024-03-01 period, Columbus had 98 MLS listings, a difference of 8 listings (9%) versus the prior month and 3 listings (3%) 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
    Columbus's median listing age (time on market) for 2024-03-01 was 0 days.

    Columbus's median square footage for active listings during the 2024-03-01 period was 2,211 sqft. One year prior, the average listing was 2,281 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.