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 137 lenders originated 1,790 VA loans during 2023. The total origination value was $572,040,000, with an average VA loan value of $319,575.

Columbus VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Columbus averaged 6.92% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Columbus's average VA mortgage closing costs are $6,314.

The average rate for the prior week (2024-05-17) was 6.65% and one month ago for the week of 2024-04-19, the average rate was 6.81%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-05-24, the average rate was 7.16%.

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 233 6.75% $7,786
QUICKEN LOANS, LLC 91 6.23% $13,352
DHI MORTGAGE COMPANY, LTD. 88 5.29% $8,512
NFM, INC. 87 6.91% $11,337
UNITED WHOLESALE MORTGAGE, LLC 81 6.53% $9,617
CROSSCOUNTRY MORTGAGE, LLC 63 6.69% $9,509
NAVY FEDERAL CREDIT UNION 53 5.83% $5,911
UNION HOME MORTGAGE CORP. 50 6.56% $10,718
FREEDOM MORTGAGE CORPORATION 49 6.54% $15,027
PENNYMAC LOAN SERVICES, LLC 34 5.77% $8,266
The Huntington National Bank 32 6.59% $8,089
PULTE MORTGAGE LLC 32 5.70% $5,789
GUARANTEED RATE, INC. 31 6.11% $8,052
The Federal Savings Bank 31 6.63% $14,224
RUOFF MORTGAGE COMPANY, INC. 27 6.71% $7,411
NEW DAY FINANCIAL, LLC 27 7.66% $12,911
M/I FINANCIAL, LLC 27 5.91% $16,226
USAA Federal Savings Bank 26 6.29% $9,508
LOANDEPOT.COM, LLC 25 6.05% $12,602
GUARANTEED RATE AFFINITY, LLC 22 6.50% $7,251
NVR Mortgage Finance, Inc. 21 5.42% $10,099
NEWREZ LLC 21 6.68% $10,526
Mr. Cooper ( Nationstar Mortgage ) 18 5.87% $14,479
Flagstar Bank, FSB 18 6.66% $8,669
T2 FINANCIAL LLC 15 6.76% $9,356
PENTAGON FEDERAL CREDIT UNION 14 5.71% $6,664
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.50% $12,156
RAPID MORTGAGE COMPANY 12 6.61% $10,794
PLANET HOME LENDING, LLC 12 6.24% $10,297
EQUITY RESOURCES, INC. 12 6.75% $7,371
HOMESIDE FINANCIAL, LLC 11 6.81% $9,684
JPMorgan Chase Bank 11 6.65% $6,439
VICTORY MORTGAGE, L.L.C. 11 5.81% $8,699
Citizens Bank 11 6.32% $9,529
Barrington Bank & Trust Company, N.A. 11 6.24% $11,325
THE EQUITABLE MORTGAGE CORPORATION 9 6.40% $8,283
CARDINAL FINANCIAL 9 6.60% $13,623
POLARIS HOME FUNDING CORP. 9 6.82% $13,833
GUILD MORTGAGE COMPANY 8 6.38% $19,252
J. VIRGIL, INC. 8 6.67% $6,263
Nations Lending Corporation 8 6.72% $10,703
AMERISAVE MORTGAGE CORPORATION 8 5.69% $15,934
Paramount Residential Mortgage Group, Inc. 8 6.43% $7,163
GSF Mortgage Corporation 8 6.48% $7,750
HOWARD HANNA FINANCIAL SERVICES, INC. 8 6.42% $12,633
The State Bank and Trust Company 7 6.63% $5,507
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.25% $5,251
THRIVE MORTGAGE, LLC 7 6.05% $14,746
VILLAGE CAPITAL MORTGAGE 7 6.07% $12,621
VANDERBILT MORTGAGE AND FINANCE, INC. 7 6.25% $3,277
Neighborhood Loans, Inc. 7 6.63% $12,694
Bank of England 7 6.11% $12,228
PNC Bank 7 6.39% $7,819
Fifth Third Bank 7 6.48% $6,376
MUTUAL OF OMAHA MORTGAGE, INC. 7 7.09% $10,666
GENEVA FINANCIAL, LLC 6 7.15% $11,381
NATIONWIDE MORTGAGE BANKERS, INC. 6 6.77% $10,493
DAS Acquisition Company, LLC 6 6.71% $7,211
LAKEVIEW LOAN SERVICING, LLC 6 5.96% $14,317
U.S. Bank 5 6.28% $5,700
East Coast Capital Corp. 5 6.65% $8,807
Union Savings Bank 5 6.63% $5,505
AMERICAN FINANCIAL NETWORK, INC. 5 6.73% $13,961
AMERICAN FINANCIAL RESOURCES, INC. 5 6.85% $12,998
First Financial Bank 4 6.66% $7,895
LAND HOME FINANCIAL SERVICES, INC. 4 7.44% $7,530
The Union Bank Company 4 6.31% $9,840
DEVELOPER'S MORTGAGE COMPANY 4 6.16% $13,352
Magnolia Bank 4 6.28% $15,178
WRIGHT-PATT CREDIT UNION, INC. 3 6.29% $12,973
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $5,797
BNC National Bank 3 5.71% $3,621
BROKER SOLUTIONS, INC. 3 6.71% $14,413
Civista Bank 3 6.75% $7,528
CMG MORTGAGE, INC. 3 5.88% $12,872
EVERETT FINANCIAL, INC. 3 6.46% $9,446
Heartland Bank 3 6.58% $5,150
HOMESPIRE MORTGAGE CORPORATION 3 6.88% $5,357
LOANPAL, LLC 3 6.04% $13,377
MOVEMENT MORTGAGE, LLC 3 7.08% $8,355
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $4,909
SUMMIT FUNDING, INC. 3 6.96% $6,854
SUN WEST MORTGAGE COMPANY, INC. 3 6.67% $7,412
VERITAS FUNDING, LLC 3 6.88% $16,519
Wells Fargo Bank 3 5.92% $6,584
WesBanco 3 5.67% $5,688
First Federal Bank 2 6.69% $3,885
Armed Forces Bank 2 5.75% $9,460
The Loan Store, Inc. 2 7.00% $8,095
NBKC BANK 2 5.56% $13,741
GUARANTY HOME MORTGAGE CORPORATION 2 6.25% $4,843
Equity Prime Mortgage LLC 2 7.31% $6,530
Mid-Continent Funding, Inc. 2 6.13% $6,783
FIRST COMMUNITY MORTGAGE, INC. 2 6.88% $11,821
AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.50% $7,864
INTERCOASTAL MORTGAGE COMPANY 1 5.88% $4,414
AmRes Corporation 1 6.38% $16,700
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.63% $9,435
First Savings Bank 1 5.50% $15,648
RELIANCE FIRST CAPITAL, LLC 1 6.88% $3,099
RESIDENTIAL HOME FUNDING CORP. 1 7.50% $4,624
ROSS MORTGAGE CORPORATION 1 7.50% $6,527
ROYAL UNITED MORTGAGE LLC 1 7.25% $10,949
First Merchants Bank 1 6.25% $6,082
S1L, Inc. 1 6.25% $5,752
SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $14,321
SIWELL, INC. 1 7.50% $12,523
South State Bank 1 6.38% $15,629
Sunflower Bank 1 5.38% $19,869
Western Ohio Mortgage Corporation 1 7.50% $7,615
The Central Trust Bank 1 7.25% $3,089
First Commonwealth Bank 1 5.13% $5,210
FIRST COLONY MORTGAGE CORPORATION 1 7.50% $6,758
The Park National Bank 1 7.12% $11,534
ENDEAVOR CAPITAL, LLC. 1 6.13% $9,038
Credence Funding Corporation 1 5.00% $12,830
Towne Bank 1 6.13% $8,086
Truist 1 5.75% $10,826
CHURCHILL MORTGAGE CORPORATION 1 7.13% $12,700
Carrington Mortgage Services, LLC 1 5.13% $3,590
CALIBER HOME LOANS, INC. 1 3.95% $5,389
CALCON MUTUAL MORTGAGE LLC 1 7.13% $1,798
BAYSHORE MORTGAGE FUNDING, LLC 1 7.25% $9,852
AMERICAN FINANCING CORPORATION 1 5.99% $19,979
NATIONS DIRECT MORTGAGE, LLC 1 7.25% $10,548
MORIA DEVELOPMENT, INC. 1 7.50% $8,720
Northpointe Bank 1 7.25% $1,582
ON Q FINANCIAL, INC. 1 5.63% $10,906
MID AMERICA MORTGAGE, INC. 1 7.75% $4,926
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.75% $3,624
Lakeview Community Capital, LLC 1 6.25% $11,288
KeyBank 1 6.38% $6,582
PHH Mortgage Corporation 1 5.99% $9,363
Plains Commerce Bank 1 5.00% $7,426
Ixonia Bank 1 6.63% $4,731
PLAZA HOME MORTGAGE, INC. 1 5.75% $24,332
INTERNATIONAL CITY MORTGAGE, INC. 1 6.63% $16,200

The top Columbus VA lender as defined by loan originations is Mortgage Research Center, LLC, with 233 VA loans originated. Their average total fees are $7,786, which is $5,565 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Columbus VA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($5,789), NAVY FEDERAL CREDIT UNION ($5,911), JPMorgan Chase Bank ($6,439), PENTAGON FEDERAL CREDIT UNION ($6,664) and GUARANTEED RATE AFFINITY, LLC ($7,251).

The lowest rate Columbus VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.29%), NVR Mortgage Finance, Inc. (5.42%), PULTE MORTGAGE LLC (5.70%), PENTAGON FEDERAL CREDIT UNION (5.71%) and PENNYMAC LOAN SERVICES, LLC (5.77%).


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 (29.2%) $339,307 (14.0%) 0.94 3,074
2018-02-01 $276,493 (34.9%) $361,516 (17.3%) 1.00 2,798
2018-03-01 $280,000 (20.6%) $362,243 (10.1%) 0.98 2,840
2018-04-01 $292,450 (17.5%) $368,479 (7.8%) 0.99 3,042
2018-05-01 $299,900 (14.7%) $377,721 (7.7%) 1.00 3,441
2018-06-01 $299,900 (14.0%) $376,379 (6.5%) 1.00 3,844
2018-07-01 $299,750 (15.3%) $374,600 (7.9%) 1.00 4,239
2018-08-01 $284,850 (9.8%) $359,154 (4.5%) 0.95 4,626
2018-09-01 $274,800 (9.9%) $351,506 (6.1%) 0.92 4,753
2018-10-01 $266,450 (6.7%) $345,076 (5.9%) 0.90 4,806
2018-11-01 $261,200 (5.4%) $339,949 (3.9%) 0.89 4,599
2018-12-01 $254,900 (4.1%) $335,795 (2.3%) 0.88 3,979
2019-01-01 $254,915 (0.2%) $337,162 (-0.6%) 0.88 3,382
2019-02-01 $268,950 (-2.7%) $350,342 (-3.1%) 0.91 3,140
2019-03-01 $285,671 (2.0%) $369,901 (2.1%) 0.93 3,139
2019-04-01 $302,445 (3.4%) $385,276 (4.6%) 0.96 3,245
2019-05-01 $310,388 (3.5%) $391,597 (3.7%) 0.97 3,497
2019-06-01 $324,500 (8.2%) $398,369 (5.8%) 1.01 3,671
2019-07-01 $320,950 (7.1%) $390,746 (4.3%) 1.00 4,081
2019-08-01 $305,355 (7.2%) $376,009 (4.7%) 0.97 4,265
2019-09-01 $291,036 (5.9%) $362,466 (3.1%) 0.93 4,382
2019-10-01 $279,839 (5.0%) $351,321 (1.8%) 0.90 4,460
2019-11-01 $275,000 (5.3%) $344,898 (1.5%) 0.90 4,154
2019-12-01 $274,900 (7.9%) $343,319 (2.2%) 0.92 3,553
2020-01-01 $278,138 (9.1%) $345,535 (2.5%) 0.93 3,057
2020-02-01 $294,900 (9.7%) $361,332 (3.1%) 0.97 2,576
2020-03-01 $299,999 (5.0%) $377,072 (1.9%) 0.94 2,658
2020-04-01 $309,450 (2.3%) $379,164 (-1.6%) 0.97 2,719
2020-05-01 $324,000 (4.4%) $392,132 (0.1%) 0.98 2,619
2020-06-01 $332,400 (2.4%) $406,568 (2.1%) 0.98 2,471
2020-07-01 $329,700 (2.7%) $413,967 (5.9%) 0.96 2,343
2020-08-01 $315,000 (3.2%) $397,470 (5.7%) 0.90 2,309
2020-09-01 $300,057 (3.1%) $388,375 (7.2%) 0.86 2,363
2020-10-01 $304,110 (8.7%) $385,886 (9.8%) 0.87 2,367
2020-11-01 $307,225 (11.7%) $377,947 (9.6%) 0.90 2,222
2020-12-01 $307,450 (11.8%) $375,110 (9.3%) 0.91 1,853
2021-01-01 $299,900 (7.8%) $379,237 (9.8%) 0.90 1,533
2021-02-01 $307,444 (4.3%) $394,703 (9.2%) 0.90 1,229
2021-03-01 $316,950 (5.7%) $402,253 (6.7%) 0.90 1,279
2021-04-01 $311,075 (0.5%) $401,018 (5.8%) 0.84 1,443
2021-05-01 $314,617 (-2.9%) $397,943 (1.5%) 0.84 1,608
2021-06-01 $300,000 (-9.8%) $393,956 (-3.1%) 0.79 1,858
2021-07-01 $309,000 (-6.3%) $384,445 (-7.1%) 0.82 2,228
2021-08-01 $299,900 (-4.8%) $377,369 (-5.1%) 0.80 2,408
2021-09-01 $289,850 (-3.4%) $371,116 (-4.4%) 0.77 2,367
2021-10-01 $292,500 (-3.8%) $376,094 (-2.5%) 0.78 2,296
2021-11-01 $289,815 (-5.7%) $375,282 (-0.7%) 0.77 1,993
2021-12-01 $289,900 (-5.7%) $385,940 (2.9%) 0.79 1,602
2022-01-01 $299,900 (0.0%) $396,806 (4.6%) 0.81 1,344
2022-02-01 $325,000 (5.7%) $413,562 (4.8%) 0.85 1,169
2022-03-01 $334,925 (5.7%) $414,235 (3.0%) 0.84 1,264
2022-04-01 $329,900 (6.1%) $417,265 (4.1%) 0.79 1,432
2022-05-01 $349,000 (10.9%) $440,419 (10.7%) 0.80 1,722
2022-06-01 $349,950 (16.7%) $447,265 (13.5%) 0.78 2,059
2022-07-01 $347,000 (12.3%) $436,170 (13.5%) 0.78 2,564
2022-08-01 $336,995 (12.4%) $428,126 (13.5%) 0.78 2,665
2022-09-01 $339,350 (17.1%) $429,811 (15.8%) 0.79 2,613
2022-10-01 $339,900 (16.2%) $427,314 (13.6%) 0.80 2,796
2022-11-01 $334,900 (15.6%) $428,235 (14.1%) 0.81 2,735
2022-12-01 $330,000 (13.8%) $436,779 (13.2%) 0.81 2,248
2023-01-01 $347,900 (16.0%) $453,343 (14.3%) 0.86 1,900
2023-02-01 $359,950 (10.8%) $483,825 (17.0%) 0.87 1,623
2023-03-01 $376,874 (12.5%) $501,379 (21.0%) 0.89 1,604
2023-04-01 $385,900 (17.0%) $506,242 (21.3%) 0.90 1,721
2023-05-01 $393,950 (12.9%) $504,799 (14.6%) 0.89 1,851
2023-06-01 $399,450 (14.1%) $520,054 (16.3%) 0.90 2,033
2023-07-01 $399,000 (15.0%) $526,509 (20.7%) 0.91 2,264
2023-08-01 $386,250 (14.6%) $516,271 (20.6%) 0.89 2,407
2023-09-01 $379,900 (12.0%) $506,611 (17.9%) 0.88 2,510
2023-10-01 $366,250 (7.8%) $496,529 (16.2%) 0.86 2,706
2023-11-01 $360,000 (7.5%) $486,529 (13.6%) 0.86 2,791
2023-12-01 $359,900 (9.1%) $476,622 (9.1%) 0.88 2,441
2024-01-01 $369,950 (6.3%) $489,963 (8.1%) 0.90 2,133
2024-02-01 $376,750 (4.7%) $499,157 (3.2%) 0.91 1,981
2024-03-01 $379,900 (0.8%) $505,985 (0.9%) 0.89 1,927
2024-04-01 $396,950 (2.9%) $525,388 (3.8%) 0.92 2,118
Columbus's median listing price for 2024-04-01 was $396,950, a difference of $11,050 (2.9%) versus the prior year and $17,050 versus the prior month.

Columbus's median listing price comes in at 92% of the national average.

Columbus's average listing price for 2024-04-01 was $525,388, a difference of $19,146 (3.8%) versus the prior year and $19,403 versus the prior month.

For the 2024-04-01 period, Columbus had 2,118 MLS listings, a difference of 191 listings (10%) versus the prior month and 397 listings (23%) 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 76 days 1,933 sqft
2018-02-01 66 days 2,045 sqft
2018-03-01 37 days 2,052 sqft
2018-04-01 33 days 2,090 sqft
2018-05-01 31 days 2,150 sqft
2018-06-01 31 days 2,150 sqft
2018-07-01 37 days 2,147 sqft
2018-08-01 36 days 2,065 sqft
2018-09-01 43 days 2,016 sqft
2018-10-01 50 days 1,977 sqft
2018-11-01 51 days 1,954 sqft
2018-12-01 62 days 1,904 sqft
2019-01-01 72 days 1,897 sqft
2019-02-01 64 days 1,944 sqft
2019-03-01 44 days 2,008 sqft
2019-04-01 33 days 2,068 sqft
2019-05-01 32 days 2,097 sqft
2019-06-01 33 days 2,132 sqft
2019-07-01 37 days 2,137 sqft
2019-08-01 38 days 2,083 sqft
2019-09-01 41 days 2,016 sqft
2019-10-01 43 days 1,962 sqft
2019-11-01 50 days 1,935 sqft
2019-12-01 63 days 1,907 sqft
2020-01-01 68 days 1,922 sqft
2020-02-01 44 days 1,960 sqft
2020-03-01 37 days 1,998 sqft
2020-04-01 39 days 1,998 sqft
2020-05-01 46 days 2,030 sqft
2020-06-01 38 days 2,053 sqft
2020-07-01 32 days 2,016 sqft
2020-08-01 29 days 1,967 sqft
2020-09-01 26 days 1,869 sqft
2020-10-01 30 days 1,856 sqft
2020-11-01 36 days 1,822 sqft
2020-12-01 44 days 1,789 sqft
2021-01-01 44 days 1,776 sqft
2021-02-01 29 days 1,774 sqft
2021-03-01 20 days 1,798 sqft
2021-04-01 12 days 1,796 sqft
2021-05-01 10 days 1,803 sqft
2021-06-01 12 days 1,768 sqft
2021-07-01 16 days 1,776 sqft
2021-08-01 19 days 1,726 sqft
2021-09-01 24 days 1,674 sqft
2021-10-01 28 days 1,670 sqft
2021-11-01 32 days 1,660 sqft
2021-12-01 39 days 1,628 sqft
2022-01-01 38 days 1,620 sqft
2022-02-01 25 days 1,696 sqft
2022-03-01 15 days 1,717 sqft
2022-04-01 10 days 1,727 sqft
2022-05-01 12 days 1,792 sqft
2022-06-01 15 days 1,809 sqft
2022-07-01 21 days 1,800 sqft
2022-08-01 27 days 1,785 sqft
2022-09-01 31 days 1,790 sqft
2022-10-01 30 days 1,799 sqft
2022-11-01 37 days 1,774 sqft
2022-12-01 50 days 1,756 sqft
2023-01-01 55 days 1,787 sqft
2023-02-01 39 days 1,816 sqft
2023-03-01 30 days 1,837 sqft
2023-04-01 23 days 1,886 sqft
2023-05-01 22 days 1,918 sqft
2023-06-01 23 days 1,931 sqft
2023-07-01 25 days 1,930 sqft
2023-08-01 26 days 1,879 sqft
2023-09-01 30 days 1,836 sqft
2023-10-01 31 days 1,823 sqft
2023-11-01 38 days 1,806 sqft
2023-12-01 49 days 1,788 sqft
2024-01-01 55 days 1,776 sqft
2024-02-01 38 days 1,789 sqft
2024-03-01 29 days 1,814 sqft
2024-04-01 25 days 1,867 sqft
Columbus's median listing age (time on market) for 2024-04-01 was 25 days. This is 9% longer than the same period one year ago.

Columbus's median square footage for active listings during the 2024-04-01 period was 1,867 sqft. One year prior, the average listing was 1,886 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.