Columbus VA Loans

COLUMBUS, IN

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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 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.