Columbus VA Loan Rates, Closing Costs & Stats

Columbus, MS

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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 36 lenders originated 152 VA loans during 2023. The total origination value was $40,690,000, with an average VA loan value of $267,697.

    Columbus VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Columbus averaged 0.2% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Columbus's average VA mortgage closing costs are $5,621.

    The average rate for the prior week (2024-11-08) was 6.51% and one month ago for the week of 2024-10-11, the average rate was 5.78%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

    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 34 6.73% $4,881
    Renasant Bank 12 6.28% $8,946
    Trustmark National Bank 11 6.10% $4,397
    NBKC BANK 8 6.05% $8,186
    USAA Federal Savings Bank 7 6.38% $7,090
    Magnolia Bank 5 5.65% $9,870
    CARDINAL FINANCIAL 4 6.47% $8,008
    NAVY FEDERAL CREDIT UNION 4 6.06% $4,896
    Flagstar Bank, FSB 4 6.34% $9,424
    UNITED WHOLESALE MORTGAGE, LLC 4 6.19% $6,133
    PENNYMAC LOAN SERVICES, LLC 4 5.28% $5,711
    CIS Financial Services, Inc. 3 6.13% $9,317
    LEADERONE FINANCIAL CORPORATION 3 6.91% $8,887
    QUICKEN LOANS, LLC 3 6.25% $10,290
    FIRST COMMUNITY MORTGAGE, INC. 3 6.08% $11,262
    CMG MORTGAGE, INC. 3 6.08% $7,148
    Mr. Cooper ( Nationstar Mortgage ) 3 5.71% $18,225
    NEWREZ LLC 2 7.00% $12,765
    Regions Bank 2 6.38% $12,713
    TOWNE MORTGAGE COMPANY 2 5.94% $9,886
    U.S. Bank 2 6.44% $6,831
    First Federal Bank 2 6.25% $3,637
    NEW DAY FINANCIAL, LLC 2 6.75% $12,238
    Paramount Residential Mortgage Group, Inc. 2 6.25% $12,692
    Wells Fargo Bank 1 5.63% $3,139
    BancorpSouth 1 6.63% $6,590
    Barrington Bank & Trust Company, N.A. 1 6.25% $13,892
    Century Mortgage Company DBA Century Lending Company 1 6.99% $6,716
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $4,939
    GUARANTEED RATE, INC. 1 7.25% $660
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    MOVEMENT MORTGAGE, LLC 1 6.75% $28,602
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $11,689
    Neighborhood Loans, Inc. 1 7.50% $5,819
    The Central Trust Bank 1 6.75% $12,011
    Armed Forces Bank 1 6.25% $10,023

    The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 34 VA loans originated. Their average total fees are $4,881, which is $4,065 lower than the next largest lender, Renasant Bank.

    The lowest fee Columbus VA lenders (with over 10 loans originated) are Trustmark National Bank ($4,397), Mortgage Research Center, LLC ($4,881), Renasant Bank ($8,946), .

    The lowest rate Columbus VA lenders (with over 10 loans originated) are Trustmark National Bank (6.10%), Renasant Bank (6.28%), Mortgage Research Center, LLC (6.73%), .

    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 $132,425 (3.7%) $166,898 (-3.9%) 0.00 223
    2018-02-01 $120,000 (-11.4%) $162,861 (-11.4%) 0.00 230
    2018-03-01 $129,900 (-7.2%) $163,102 (-12.4%) 0.00 238
    2018-04-01 $134,950 (0.0%) $171,143 (-5.1%) 0.00 267
    2018-05-01 $139,900 (4.8%) $177,683 (-1.4%) 0.00 259
    2018-06-01 $149,900 (11.3%) $181,018 (0.1%) 0.00 267
    2018-07-01 $154,900 (19.2%) $186,639 (5.3%) 0.00 259
    2018-08-01 $161,488 (22.9%) $190,684 (10.2%) 0.00 238
    2018-09-01 $160,950 (23.9%) $193,104 (14.1%) 0.00 239
    2018-10-01 $159,125 (21.4%) $192,089 (10.6%) 0.00 243
    2018-11-01 $151,013 (11.9%) $193,311 (12.4%) 0.00 235
    2018-12-01 $154,500 (14.5%) $193,874 (12.9%) 0.00 226
    2019-01-01 $154,350 (16.6%) $188,268 (12.8%) 0.00 228
    2019-02-01 $159,450 (32.9%) $193,405 (18.8%) 0.00 224
    2019-03-01 $162,814 (25.3%) $204,236 (25.2%) 0.00 219
    2019-04-01 $169,600 (25.7%) $213,258 (24.6%) 0.00 218
    2019-05-01 $159,900 (14.3%) $214,237 (20.6%) 0.00 218
    2019-06-01 $168,750 (12.6%) $226,867 (25.3%) 0.00 213
    2019-07-01 $174,450 (12.6%) $234,285 (25.5%) 0.00 209
    2019-08-01 $172,168 (6.6%) $232,190 (21.8%) 0.00 207
    2019-09-01 $175,420 (9.0%) $231,680 (20.0%) 0.00 206
    2019-10-01 $176,364 (10.8%) $231,340 (20.4%) 0.00 203
    2019-11-01 $175,950 (16.5%) $232,584 (20.3%) 0.00 193
    2019-12-01 $177,975 (15.2%) $237,330 (22.4%) 0.00 189
    2020-01-01 $177,975 (15.3%) $231,079 (22.7%) 0.00 191
    2020-02-01 $197,645 (24.0%) $239,507 (23.8%) 0.00 188
    2020-03-01 $201,698 (23.9%) $242,501 (18.7%) 0.00 191
    2020-04-01 $199,800 (17.8%) $242,247 (13.6%) 0.00 189
    2020-05-01 $198,888 (24.4%) $245,103 (14.4%) 0.00 177
    2020-06-01 $203,197 (20.4%) $255,620 (12.7%) 0.00 164
    2020-07-01 $208,675 (19.6%) $255,877 (9.2%) 0.00 159
    2020-08-01 $218,000 (26.6%) $255,138 (9.9%) 0.00 156
    2020-09-01 $219,350 (25.0%) $255,442 (10.3%) 0.00 147
    2020-10-01 $224,500 (27.3%) $259,584 (12.2%) 0.00 144
    2020-11-01 $187,950 (6.8%) $240,247 (3.3%) 0.00 147
    2020-12-01 $198,500 (11.5%) $244,548 (3.0%) 0.00 137
    2021-01-01 $195,900 (10.1%) $231,153 (0.0%) 0.00 128
    2021-02-01 $188,700 (-4.5%) $234,711 (-2.0%) 0.00 110
    2021-03-01 $189,900 (-5.9%) $237,425 (-2.1%) 0.00 101
    2021-04-01 $197,725 (-1.0%) $255,906 (5.6%) 0.00 88
    2021-05-01 $209,900 (5.5%) $266,316 (8.7%) 0.00 80
    2021-06-01 $194,975 (-4.1%) $266,079 (4.1%) 0.00 76
    2021-07-01 $194,900 (-6.6%) $251,268 (-1.8%) 0.00 75
    2021-08-01 $189,750 (-13.0%) $247,557 (-3.0%) 0.00 82
    2021-09-01 $207,400 (-5.5%) $254,648 (-0.3%) 0.00 82
    2021-10-01 $199,900 (-11.0%) $254,293 (-2.0%) 0.00 87
    2021-11-01 $216,175 (15.0%) $275,838 (14.8%) 0.00 95
    2021-12-01 $199,950 (0.7%) $274,688 (12.3%) 0.00 101
    2022-01-01 $197,500 (0.8%) $311,273 (34.7%) 0.00 92
    2022-02-01 $196,000 (3.9%) $312,925 (33.3%) 0.00 82
    2022-03-01 $215,700 (13.6%) $322,171 (35.7%) 0.00 73
    2022-04-01 $259,900 (31.5%) $340,676 (33.1%) 0.00 87
    2022-05-01 $247,450 (17.9%) $328,959 (23.5%) 0.00 96
    2022-06-01 $231,250 (18.6%) $318,640 (19.8%) 0.00 105
    2022-07-01 $229,450 (17.7%) $291,630 (16.1%) 0.00 130
    2022-08-01 $229,600 (21.0%) $293,839 (18.7%) 0.00 128
    2022-09-01 $216,000 (4.2%) $281,847 (10.7%) 0.00 123
    2022-10-01 $217,000 (8.6%) $286,923 (12.8%) 0.00 131
    2022-11-01 $209,450 (-3.1%) $274,552 (-0.5%) 0.00 145
    2022-12-01 $199,000 (-0.5%) $272,951 (-0.6%) 0.00 134
    2023-01-01 $209,000 (5.8%) $286,818 (-7.9%) 0.00 120
    2023-02-01 $204,450 (4.3%) $286,256 (-8.5%) 0.00 122
    2023-03-01 $204,995 (-5.0%) $296,072 (-8.1%) 0.00 118
    2023-04-01 $224,950 (-13.5%) $306,941 (-9.9%) 0.00 108
    2023-05-01 $228,625 (-7.6%) $289,949 (-11.9%) 0.00 110
    2023-06-01 $217,323 (-6.0%) $291,185 (-8.6%) 0.00 101
    2023-07-01 $224,500 (-2.2%) $299,771 (2.8%) 0.00 99
    2023-08-01 $257,000 (11.9%) $304,135 (3.5%) 0.00 106
    2023-09-01 $249,450 (15.5%) $286,745 (1.7%) 0.00 119
    2023-10-01 $249,900 (15.2%) $301,746 (5.2%) 0.00 131
    2023-11-01 $247,400 (18.1%) $302,687 (10.3%) 0.00 131
    2023-12-01 $252,450 (26.9%) $307,848 (12.8%) 0.00 134
    2024-01-01 $246,875 (18.1%) $268,069 (-6.5%) 0.00 136
    2024-02-01 $248,100 (21.4%) $269,823 (-5.7%) 0.00 131
    2024-03-01 $244,900 (19.5%) $266,685 (-9.9%) 0.00 125
    2024-04-01 $236,500 (5.1%) $260,046 (-15.3%) 0.00 138
    2024-05-01 $231,250 (1.2%) $259,261 (-10.6%) 0.00 137
    2024-06-01 $227,400 (4.6%) $258,445 (-11.2%) 0.00 148
    2024-07-01 $239,125 (6.5%) $265,444 (-11.5%) 0.00 146
    2024-08-01 $236,250 (-8.1%) $272,140 (-10.5%) 0.00 145
    2024-09-01 $254,450 (2.0%) $283,390 (-1.2%) 0.00 148
    2024-10-01 $250,975 (0.4%) $281,527 (-6.7%) 0.00 144
    Columbus's median listing price for 2024-10-01 was $250,975, a difference of $1,075 (0.4%) versus the prior year and $-3,475 versus the prior month.

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

    Columbus's average listing price for 2024-10-01 was $281,527, a difference of $-20,219 (-6.7%) versus the prior year and $-1,863 versus the prior month.

    For the 2024-10-01 period, Columbus had 144 MLS listings, a difference of -4 listings (-3%) versus the prior month and 13 listings (10%) 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 1,859 sqft
    2018-02-01 0 days 1,806 sqft
    2018-03-01 0 days 1,819 sqft
    2018-04-01 0 days 1,808 sqft
    2018-05-01 0 days 1,830 sqft
    2018-06-01 0 days 1,829 sqft
    2018-07-01 0 days 1,837 sqft
    2018-08-01 0 days 1,850 sqft
    2018-09-01 0 days 1,889 sqft
    2018-10-01 0 days 1,892 sqft
    2018-11-01 0 days 1,878 sqft
    2018-12-01 0 days 1,897 sqft
    2019-01-01 0 days 1,874 sqft
    2019-02-01 0 days 1,896 sqft
    2019-03-01 0 days 1,967 sqft
    2019-04-01 0 days 2,019 sqft
    2019-05-01 0 days 2,000 sqft
    2019-06-01 0 days 1,965 sqft
    2019-07-01 0 days 2,044 sqft
    2019-08-01 0 days 2,007 sqft
    2019-09-01 0 days 2,018 sqft
    2019-10-01 0 days 2,047 sqft
    2019-11-01 0 days 2,162 sqft
    2019-12-01 0 days 2,176 sqft
    2020-01-01 0 days 2,100 sqft
    2020-02-01 0 days 2,181 sqft
    2020-03-01 0 days 2,181 sqft
    2020-04-01 0 days 2,159 sqft
    2020-05-01 0 days 2,177 sqft
    2020-06-01 0 days 2,296 sqft
    2020-07-01 0 days 2,269 sqft
    2020-08-01 0 days 2,322 sqft
    2020-09-01 0 days 2,323 sqft
    2020-10-01 0 days 2,330 sqft
    2020-11-01 0 days 2,161 sqft
    2020-12-01 0 days 2,152 sqft
    2021-01-01 0 days 2,109 sqft
    2021-02-01 0 days 2,107 sqft
    2021-03-01 0 days 2,202 sqft
    2021-04-01 0 days 2,335 sqft
    2021-05-01 0 days 2,300 sqft
    2021-06-01 0 days 2,267 sqft
    2021-07-01 0 days 2,208 sqft
    2021-08-01 0 days 2,240 sqft
    2021-09-01 0 days 2,236 sqft
    2021-10-01 0 days 2,247 sqft
    2021-11-01 0 days 2,162 sqft
    2021-12-01 0 days 2,064 sqft
    2022-01-01 0 days 2,175 sqft
    2022-02-01 0 days 2,098 sqft
    2022-03-01 0 days 2,241 sqft
    2022-04-01 0 days 2,200 sqft
    2022-05-01 0 days 2,193 sqft
    2022-06-01 0 days 2,144 sqft
    2022-07-01 0 days 2,120 sqft
    2022-08-01 0 days 2,092 sqft
    2022-09-01 0 days 2,090 sqft
    2022-10-01 0 days 2,030 sqft
    2022-11-01 0 days 2,001 sqft
    2022-12-01 0 days 1,979 sqft
    2023-01-01 0 days 1,970 sqft
    2023-02-01 0 days 1,979 sqft
    2023-03-01 0 days 2,036 sqft
    2023-04-01 0 days 2,080 sqft
    2023-05-01 0 days 2,058 sqft
    2023-06-01 0 days 1,977 sqft
    2023-07-01 0 days 1,872 sqft
    2023-08-01 0 days 1,993 sqft
    2023-09-01 0 days 2,004 sqft
    2023-10-01 0 days 2,022 sqft
    2023-11-01 0 days 2,039 sqft
    2023-12-01 0 days 2,048 sqft
    2024-01-01 0 days 2,056 sqft
    2024-02-01 0 days 2,060 sqft
    2024-03-01 0 days 2,051 sqft
    2024-04-01 0 days 1,983 sqft
    2024-05-01 0 days 1,947 sqft
    2024-06-01 0 days 1,959 sqft
    2024-07-01 0 days 2,005 sqft
    2024-08-01 0 days 1,979 sqft
    2024-09-01 0 days 2,070 sqft
    2024-10-01 0 days 2,009 sqft
    Columbus's median listing age (time on market) for 2024-10-01 was 0 days.

    Columbus's median square footage for active listings during the 2024-10-01 period was 2,009 sqft. One year prior, the average listing was 2,022 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.