Connersville VA Loan Rates, Closing Costs & Stats

Connersville, 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 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.

    Connersville's 14 lenders originated 24 VA loans during 2023. The total origination value was $4,350,000, with an average VA loan value of $181,250.

    Connersville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Connersville averaged 7.24% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Connersville's average VA mortgage closing costs are $3,615.

    The average rate for the prior week (2024-04-12) was 6.97% and one month ago for the week of 2024-03-15, the average rate was 6.93%.

    The average rate one year ago was 6.52%.

    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.

    Connersville 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 Connersville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 9 7.18% $2,549
    UNITED WHOLESALE MORTGAGE, LLC 2 7.03% $4,152
    QUICKEN LOANS, LLC 2 7.25% $4,662
    MOVEMENT MORTGAGE, LLC 1 7.25% $820
    NEW DAY FINANCIAL, LLC 1 7.49% $7,860
    North American Savings Bank, F.S.B. 1 5.63% $8,157
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $2,550
    The Huntington National Bank 1 6.25% $2,289
    THRIVE MORTGAGE, LLC 1 7.13% $8,156
    U.S. Bank 1 7.75% $4,442
    CARDINAL FINANCIAL 1 4.75% $6,170
    VILLAGE CAPITAL MORTGAGE 1 5.75% $7,805
    Fifth Third Bank 1 6.50% $0
    FREEDOM MORTGAGE CORPORATION 1 6.25% $7,522

    The top Connersville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 9 VA loans originated. Their average total fees are $2,549, which is $1,603 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Connersville VA lenders (with over 10 loans originated) are .

    The lowest rate Connersville VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Connersville (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 $59,900 (-14.4%) $81,496 (-23.8%) 0.00 72
    2018-02-01 $56,200 (-18.8%) $86,585 (-17.3%) 0.00 68
    2018-03-01 $69,900 (1.0%) $107,907 (1.9%) 0.00 64
    2018-04-01 $69,950 (0.4%) $106,876 (0.7%) 0.00 61
    2018-05-01 $69,725 (1.0%) $101,684 (10.9%) 0.00 72
    2018-06-01 $65,900 (-6.7%) $95,446 (0.5%) 0.00 90
    2018-07-01 $71,175 (1.7%) $105,429 (10.0%) 0.00 92
    2018-08-01 $69,925 (-1.8%) $102,703 (7.7%) 0.00 100
    2018-09-01 $74,900 (20.8%) $115,637 (27.2%) 0.00 101
    2018-10-01 $74,900 (15.4%) $119,734 (14.4%) 0.00 93
    2018-11-01 $69,900 (6.5%) $123,182 (21.6%) 0.00 87
    2018-12-01 $79,200 (32.2%) $122,688 (38.8%) 0.00 82
    2019-01-01 $76,200 (27.2%) $113,434 (39.2%) 0.00 76
    2019-02-01 $74,950 (33.4%) $113,572 (31.2%) 0.00 80
    2019-03-01 $70,586 (1.0%) $110,540 (2.4%) 0.00 73
    2019-04-01 $71,386 (2.1%) $108,967 (2.0%) 0.00 66
    2019-05-01 $79,900 (14.6%) $119,528 (17.6%) 0.00 64
    2019-06-01 $72,000 (9.3%) $124,644 (30.6%) 0.00 72
    2019-07-01 $69,900 (-1.8%) $114,066 (8.2%) 0.00 97
    2019-08-01 $69,900 (0.0%) $111,653 (8.7%) 0.00 94
    2019-09-01 $69,900 (-6.7%) $105,909 (-8.4%) 0.00 91
    2019-10-01 $70,900 (-5.3%) $103,568 (-13.5%) 0.00 86
    2019-11-01 $76,000 (8.7%) $98,996 (-19.6%) 0.00 78
    2019-12-01 $66,900 (-15.5%) $108,409 (-11.6%) 0.00 77
    2020-01-01 $64,600 (-15.2%) $111,186 (-2.0%) 0.00 71
    2020-02-01 $64,500 (-13.9%) $113,306 (-0.2%) 0.00 63
    2020-03-01 $67,675 (-4.1%) $114,554 (3.6%) 0.00 57
    2020-04-01 $69,900 (-2.1%) $107,123 (-1.7%) 0.00 57
    2020-05-01 $69,900 (-12.5%) $114,434 (-4.3%) 0.00 49
    2020-06-01 $67,025 (-6.9%) $109,544 (-12.1%) 0.00 46
    2020-07-01 $68,225 (-2.4%) $121,495 (6.5%) 0.00 44
    2020-08-01 $65,000 (-7.0%) $136,955 (22.7%) 0.00 37
    2020-09-01 $77,550 (10.9%) $115,440 (9.0%) 0.00 37
    2020-10-01 $84,900 (19.8%) $122,235 (18.0%) 0.00 44
    2020-11-01 $79,700 (4.9%) $97,569 (-1.4%) 0.00 40
    2020-12-01 $77,725 (16.2%) $103,238 (-4.8%) 0.00 35
    2021-01-01 $94,700 (46.6%) $118,002 (6.1%) 0.00 32
    2021-02-01 $85,350 (32.3%) $143,345 (26.5%) 0.00 35
    2021-03-01 $79,900 (18.1%) $117,422 (2.5%) 0.00 31
    2021-04-01 $71,975 (3.0%) $124,573 (16.3%) 0.00 23
    2021-05-01 $95,000 (35.9%) $134,741 (17.8%) 0.00 23
    2021-06-01 $112,200 (67.4%) $142,138 (29.8%) 0.00 35
    2021-07-01 $114,950 (68.5%) $158,119 (30.1%) 0.00 31
    2021-08-01 $137,400 (111.4%) $157,670 (15.1%) 0.00 42
    2021-09-01 $119,875 (54.6%) $155,558 (34.8%) 0.00 37
    2021-10-01 $139,900 (64.8%) $152,548 (24.8%) 0.00 37
    2021-11-01 $106,200 (33.3%) $136,038 (39.4%) 0.00 32
    2021-12-01 $131,725 (69.5%) $155,005 (50.1%) 0.00 28
    2022-01-01 $149,900 (58.3%) $173,081 (46.7%) 0.00 34
    2022-02-01 $165,925 (94.4%) $178,424 (24.5%) 0.00 22
    2022-03-01 $176,400 (120.8%) $197,867 (68.5%) 0.00 23
    2022-04-01 $135,000 (87.6%) $187,024 (50.1%) 0.00 23
    2022-05-01 $148,675 (56.5%) $171,769 (27.5%) 0.00 33
    2022-06-01 $121,950 (8.7%) $142,594 (0.3%) 0.00 45
    2022-07-01 $110,000 (-4.3%) $138,588 (-12.4%) 0.00 45
    2022-08-01 $127,450 (-7.2%) $160,838 (2.0%) 0.00 51
    2022-09-01 $157,400 (31.3%) $190,631 (22.6%) 0.00 55
    2022-10-01 $157,400 (12.5%) $191,088 (25.3%) 0.00 59
    2022-11-01 $157,900 (48.7%) $174,422 (28.2%) 0.00 55
    2022-12-01 $155,000 (17.7%) $179,836 (16.0%) 0.00 53
    2023-01-01 $147,425 (-1.7%) $162,854 (-5.9%) 0.00 48
    2023-02-01 $131,950 (-20.5%) $158,472 (-11.2%) 0.00 45
    2023-03-01 $134,975 (-23.5%) $170,155 (-14.0%) 0.00 54
    2023-04-01 $119,900 (-11.2%) $180,641 (-3.4%) 0.00 44
    2023-05-01 $165,175 (11.1%) $194,267 (13.1%) 0.00 49
    2023-06-01 $192,175 (57.6%) $210,887 (47.9%) 0.00 47
    2023-07-01 $189,900 (72.6%) $216,243 (56.0%) 0.00 43
    2023-08-01 $189,900 (49.0%) $206,689 (28.5%) 0.00 37
    2023-09-01 $184,900 (17.5%) $201,329 (5.6%) 0.00 39
    2023-10-01 $199,900 (27.0%) $208,728 (9.2%) 0.00 43
    2023-11-01 $182,400 (15.5%) $198,321 (13.7%) 0.00 40
    2023-12-01 $179,000 (15.5%) $202,097 (12.4%) 0.00 38
    2024-01-01 $179,675 (21.9%) $206,994 (27.1%) 0.00 46
    2024-02-01 $164,400 (24.6%) $184,024 (16.1%) 0.00 49
    2024-03-01 $159,900 (18.5%) $191,733 (12.7%) 0.00 46
    Connersville's median listing price for 2024-03-01 was $159,900, a difference of $24,925 (18.5%) versus the prior year and $-4,500 versus the prior month.

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

    Connersville's average listing price for 2024-03-01 was $191,733, a difference of $21,578 (12.7%) versus the prior year and $7,709 versus the prior month.

    For the 2024-03-01 period, Connersville had 46 MLS listings, a difference of -3 listings (-6%) versus the prior month and -8 listings (-15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Connersville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,384 sqft
    2018-02-01 0 days 1,447 sqft
    2018-03-01 0 days 1,477 sqft
    2018-04-01 0 days 1,421 sqft
    2018-05-01 0 days 1,410 sqft
    2018-06-01 0 days 1,378 sqft
    2018-07-01 0 days 1,484 sqft
    2018-08-01 0 days 1,474 sqft
    2018-09-01 0 days 1,484 sqft
    2018-10-01 0 days 1,448 sqft
    2018-11-01 0 days 1,440 sqft
    2018-12-01 0 days 1,440 sqft
    2019-01-01 0 days 1,328 sqft
    2019-02-01 0 days 1,381 sqft
    2019-03-01 0 days 1,383 sqft
    2019-04-01 0 days 1,389 sqft
    2019-05-01 0 days 1,512 sqft
    2019-06-01 0 days 1,490 sqft
    2019-07-01 0 days 1,391 sqft
    2019-08-01 0 days 1,422 sqft
    2019-09-01 0 days 1,469 sqft
    2019-10-01 0 days 1,497 sqft
    2019-11-01 0 days 1,466 sqft
    2019-12-01 0 days 1,540 sqft
    2020-01-01 0 days 1,528 sqft
    2020-02-01 0 days 1,506 sqft
    2020-03-01 0 days 1,552 sqft
    2020-04-01 0 days 1,522 sqft
    2020-05-01 0 days 1,512 sqft
    2020-06-01 0 days 1,358 sqft
    2020-07-01 0 days 1,366 sqft
    2020-08-01 0 days 1,524 sqft
    2020-09-01 0 days 1,389 sqft
    2020-10-01 0 days 1,433 sqft
    2020-11-01 0 days 1,470 sqft
    2020-12-01 0 days 1,436 sqft
    2021-01-01 0 days 1,646 sqft
    2021-02-01 0 days 1,607 sqft
    2021-03-01 0 days 1,603 sqft
    2021-04-01 0 days 1,633 sqft
    2021-05-01 0 days 1,560 sqft
    2021-06-01 0 days 1,494 sqft
    2021-07-01 0 days 1,560 sqft
    2021-08-01 0 days 1,560 sqft
    2021-09-01 0 days 1,538 sqft
    2021-10-01 0 days 1,374 sqft
    2021-11-01 0 days 1,206 sqft
    2021-12-01 0 days 1,262 sqft
    2022-01-01 0 days 1,440 sqft
    2022-02-01 0 days 1,565 sqft
    2022-03-01 0 days 1,649 sqft
    2022-04-01 0 days 1,486 sqft
    2022-05-01 0 days 1,534 sqft
    2022-06-01 0 days 1,567 sqft
    2022-07-01 0 days 1,515 sqft
    2022-08-01 0 days 1,485 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,652 sqft
    2022-11-01 0 days 1,589 sqft
    2022-12-01 0 days 1,664 sqft
    2023-01-01 0 days 1,616 sqft
    2023-02-01 0 days 1,456 sqft
    2023-03-01 0 days 1,453 sqft
    2023-04-01 0 days 1,448 sqft
    2023-05-01 0 days 1,579 sqft
    2023-06-01 0 days 1,686 sqft
    2023-07-01 0 days 1,675 sqft
    2023-08-01 0 days 1,780 sqft
    2023-09-01 0 days 1,790 sqft
    2023-10-01 0 days 1,744 sqft
    2023-11-01 0 days 1,752 sqft
    2023-12-01 0 days 1,742 sqft
    2024-01-01 0 days 1,804 sqft
    2024-02-01 0 days 1,631 sqft
    2024-03-01 0 days 1,570 sqft
    Connersville's median listing age (time on market) for 2024-03-01 was 0 days.

    Connersville's median square footage for active listings during the 2024-03-01 period was 1,570 sqft. One year prior, the average listing was 1,453 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.