Columbus VA Loan Rates, Closing Costs & Stats
COLUMBUS, OH
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 194 lenders originated 5,942 VA loans during 2021. The total origination value was $1,522,970,000, with an average VA loan value of $256,306.
Columbus VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Columbus
averaged
6.85%
for the week of 2022-12-02, compared to the national average (all VA variants) of
6.292% for the same period.
Columbus's average VA mortgage closing costs are $5,553.
The average rate for the prior week (2022-11-25) was
6.98% and
one month ago for the week of 2022-10-28, the
average rate was 6.87%.
The average rate one year ago was 3.35%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.55%.
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.
The top Columbus VA lender as defined by loan originations is QUICKEN LOANS, LLC, with
471 VA loans originated. Their average total fees are
$5,669, which is $2,562
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Columbus VA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($2,076), PLANET HOME LENDING, LLC ($2,710), InterContinental Capital Group, Inc ($2,886), FREEDOM MORTGAGE CORPORATION ($3,106) and LAKEVIEW LOAN SERVICING, LLC ($3,183).
The lowest rate Columbus VA lenders (with over 10 loans originated) are
CLEARPATH LENDING (2.26%), BNC National Bank (2.34%), Low VA Rates, LLC (2.38%), NP, Inc. (2.39%) and VILLAGE CAPITAL MORTGAGE (2.40%).
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 | $254,450 (29.5%) | $339,283 (14.0%) | 0.94 | 3,075 |
| 2018-02-01 | $276,445 (34.9%) | $361,458 (17.4%) | 1.00 | 2,800 |
| 2018-03-01 | $280,000 (20.7%) | $362,210 (10.1%) | 0.98 | 2,841 |
| 2018-04-01 | $292,450 (17.5%) | $368,446 (7.8%) | 0.99 | 3,043 |
| 2018-05-01 | $299,900 (14.9%) | $377,689 (7.7%) | 1.00 | 3,441 |
| 2018-06-01 | $299,900 (14.0%) | $376,350 (6.5%) | 1.00 | 3,844 |
| 2018-07-01 | $299,800 (15.4%) | $374,633 (7.9%) | 1.00 | 4,240 |
| 2018-08-01 | $284,850 (9.8%) | $359,166 (4.5%) | 0.95 | 4,625 |
| 2018-09-01 | $274,800 (9.9%) | $351,521 (6.1%) | 0.92 | 4,753 |
| 2018-10-01 | $266,450 (6.7%) | $345,100 (5.9%) | 0.90 | 4,805 |
| 2018-11-01 | $261,200 (5.4%) | $339,966 (3.9%) | 0.89 | 4,598 |
| 2018-12-01 | $254,900 (4.1%) | $335,781 (2.3%) | 0.88 | 3,979 |
| 2019-01-01 | $254,915 (0.2%) | $337,189 (-0.6%) | 0.88 | 3,382 |
| 2019-02-01 | $268,950 (-2.7%) | $350,324 (-3.1%) | 0.91 | 3,140 |
| 2019-03-01 | $285,671 (2.0%) | $369,906 (2.1%) | 0.93 | 3,145 |
| 2019-04-01 | $301,340 (3.0%) | $385,251 (4.6%) | 0.96 | 3,259 |
| 2019-05-01 | $307,500 (2.5%) | $390,953 (3.5%) | 0.96 | 3,521 |
| 2019-06-01 | $321,417 (7.2%) | $397,128 (5.5%) | 1.00 | 3,698 |
| 2019-07-01 | $319,900 (6.7%) | $389,614 (4.0%) | 1.00 | 4,107 |
| 2019-08-01 | $301,791 (6.0%) | $375,028 (4.4%) | 0.96 | 4,292 |
| 2019-09-01 | $289,477 (5.3%) | $361,589 (2.9%) | 0.93 | 4,409 |
| 2019-10-01 | $279,450 (4.9%) | $350,566 (1.6%) | 0.90 | 4,488 |
| 2019-11-01 | $274,900 (5.3%) | $344,140 (1.2%) | 0.90 | 4,183 |
| 2019-12-01 | $273,900 (7.5%) | $342,421 (2.0%) | 0.91 | 3,581 |
| 2020-01-01 | $277,450 (8.8%) | $344,440 (2.2%) | 0.93 | 3,086 |
| 2020-02-01 | $293,250 (9.0%) | $359,941 (2.7%) | 0.96 | 2,602 |
| 2020-03-01 | $299,900 (5.0%) | $375,705 (1.6%) | 0.94 | 2,685 |
| 2020-04-01 | $308,600 (2.4%) | $377,955 (-1.9%) | 0.97 | 2,746 |
| 2020-05-01 | $319,900 (4.0%) | $390,466 (-0.1%) | 0.97 | 2,646 |
| 2020-06-01 | $329,803 (2.6%) | $404,627 (1.9%) | 0.97 | 2,500 |
| 2020-07-01 | $327,250 (2.3%) | $411,962 (5.7%) | 0.95 | 2,371 |
| 2020-08-01 | $314,631 (4.3%) | $395,552 (5.5%) | 0.90 | 2,335 |
| 2020-09-01 | $299,900 (3.6%) | $386,659 (6.9%) | 0.86 | 2,389 |
| 2020-10-01 | $300,000 (7.4%) | $384,279 (9.6%) | 0.86 | 2,392 |
| 2020-11-01 | $302,500 (10.0%) | $376,152 (9.3%) | 0.88 | 2,248 |
| 2020-12-01 | $304,900 (11.3%) | $373,055 (9.0%) | 0.91 | 1,879 |
| 2021-01-01 | $299,250 (7.9%) | $376,507 (9.3%) | 0.89 | 1,559 |
| 2021-02-01 | $303,404 (3.5%) | $391,806 (8.9%) | 0.88 | 1,256 |
| 2021-03-01 | $312,400 (4.2%) | $399,187 (6.3%) | 0.89 | 1,306 |
| 2021-04-01 | $307,200 (-0.5%) | $398,405 (5.4%) | 0.83 | 1,470 |
| 2021-05-01 | $309,900 (-3.1%) | $395,509 (1.3%) | 0.82 | 1,635 |
| 2021-06-01 | $299,950 (-9.1%) | $391,975 (-3.1%) | 0.79 | 1,885 |
| 2021-07-01 | $300,000 (-8.3%) | $383,104 (-7.0%) | 0.79 | 2,253 |
| 2021-08-01 | $299,900 (-4.7%) | $376,138 (-4.9%) | 0.80 | 2,434 |
| 2021-09-01 | $289,450 (-3.5%) | $369,884 (-4.3%) | 0.77 | 2,393 |
| 2021-10-01 | $289,999 (-3.3%) | $374,676 (-2.5%) | 0.77 | 2,320 |
| 2021-11-01 | $289,422 (-4.3%) | $373,866 (-0.6%) | 0.77 | 2,018 |
| 2021-12-01 | $289,835 (-4.9%) | $383,852 (2.9%) | 0.79 | 1,628 |
| 2022-01-01 | $299,900 (0.2%) | $394,006 (4.7%) | 0.81 | 1,372 |
| 2022-02-01 | $320,000 (5.5%) | $409,872 (4.6%) | 0.83 | 1,196 |
| 2022-03-01 | $329,028 (5.3%) | $410,880 (2.9%) | 0.82 | 1,291 |
| 2022-04-01 | $325,000 (5.8%) | $413,920 (3.9%) | 0.78 | 1,459 |
| 2022-05-01 | $343,770 (10.9%) | $438,072 (10.8%) | 0.79 | 1,751 |
| 2022-06-01 | $349,900 (16.7%) | $444,897 (13.5%) | 0.78 | 2,087 |
| 2022-07-01 | $345,000 (15.0%) | $434,503 (13.4%) | 0.78 | 2,592 |
| 2022-08-01 | $333,000 (11.0%) | $426,567 (13.4%) | 0.77 | 2,693 |
| 2022-09-01 | $337,400 (16.6%) | $428,104 (15.7%) | 0.79 | 2,642 |
| 2022-10-01 | $338,900 (16.9%) | $425,831 (13.7%) | 0.80 | 2,824 |
| 2022-11-01 | $330,000 (14.0%) | $426,553 (14.1%) | 0.79 | 2,762 |
Columbus's median listing price comes in at 79% of the national average.
Columbus's average listing price for 2022-11-01 was $426,553, a difference of $52,687 (14.1%) versus the prior year and $722 versus the prior month.
For the 2022-11-01 period, Columbus had 2,762 MLS listings, a difference of -62 listings (-2%) versus the prior month and 744 listings (37%) 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 | 80 days | 1,932 sqft |
| 2018-02-01 | 72 days | 2,044 sqft |
| 2018-03-01 | 42 days | 2,052 sqft |
| 2018-04-01 | 36 days | 2,090 sqft |
| 2018-05-01 | 33 days | 2,150 sqft |
| 2018-06-01 | 33 days | 2,151 sqft |
| 2018-07-01 | 39 days | 2,147 sqft |
| 2018-08-01 | 37 days | 2,065 sqft |
| 2018-09-01 | 44 days | 2,016 sqft |
| 2018-10-01 | 51 days | 1,977 sqft |
| 2018-11-01 | 53 days | 1,955 sqft |
| 2018-12-01 | 64 days | 1,904 sqft |
| 2019-01-01 | 74 days | 1,897 sqft |
| 2019-02-01 | 68 days | 1,944 sqft |
| 2019-03-01 | 48 days | 2,008 sqft |
| 2019-04-01 | 35 days | 2,067 sqft |
| 2019-05-01 | 33 days | 2,093 sqft |
| 2019-06-01 | 36 days | 2,129 sqft |
| 2019-07-01 | 39 days | 2,133 sqft |
| 2019-08-01 | 40 days | 2,078 sqft |
| 2019-09-01 | 42 days | 2,013 sqft |
| 2019-10-01 | 44 days | 1,961 sqft |
| 2019-11-01 | 52 days | 1,933 sqft |
| 2019-12-01 | 66 days | 1,905 sqft |
| 2020-01-01 | 72 days | 1,920 sqft |
| 2020-02-01 | 54 days | 1,954 sqft |
| 2020-03-01 | 39 days | 1,994 sqft |
| 2020-04-01 | 42 days | 1,994 sqft |
| 2020-05-01 | 50 days | 2,029 sqft |
| 2020-06-01 | 41 days | 2,050 sqft |
| 2020-07-01 | 35 days | 2,012 sqft |
| 2020-08-01 | 31 days | 1,961 sqft |
| 2020-09-01 | 30 days | 1,867 sqft |
| 2020-10-01 | 31 days | 1,856 sqft |
| 2020-11-01 | 38 days | 1,820 sqft |
| 2020-12-01 | 46 days | 1,787 sqft |
| 2021-01-01 | 49 days | 1,772 sqft |
| 2021-02-01 | 32 days | 1,771 sqft |
| 2021-03-01 | 22 days | 1,798 sqft |
| 2021-04-01 | 14 days | 1,796 sqft |
| 2021-05-01 | 11 days | 1,803 sqft |
| 2021-06-01 | 14 days | 1,764 sqft |
| 2021-07-01 | 16 days | 1,772 sqft |
| 2021-08-01 | 20 days | 1,724 sqft |
| 2021-09-01 | 24 days | 1,673 sqft |
| 2021-10-01 | 29 days | 1,668 sqft |
| 2021-11-01 | 33 days | 1,659 sqft |
| 2021-12-01 | 42 days | 1,627 sqft |
| 2022-01-01 | 41 days | 1,620 sqft |
| 2022-02-01 | 28 days | 1,694 sqft |
| 2022-03-01 | 17 days | 1,712 sqft |
| 2022-04-01 | 11 days | 1,725 sqft |
| 2022-05-01 | 12 days | 1,791 sqft |
| 2022-06-01 | 16 days | 1,806 sqft |
| 2022-07-01 | 22 days | 1,800 sqft |
| 2022-08-01 | 29 days | 1,783 sqft |
| 2022-09-01 | 32 days | 1,789 sqft |
| 2022-10-01 | 32 days | 1,796 sqft |
| 2022-11-01 | 37 days | 1,772 sqft |
Columbus's median square footage for active listings during the 2022-11-01 period was 1,772 sqft. One year prior, the average listing was 1,659 sqft.
