Decatur VA Loan Rates, Closing Costs & Stats

Decatur, 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.

    Decatur's 10 lenders originated 16 VA loans during 2023. The total origination value was $3,600,000, with an average VA loan value of $225,000.

    Decatur VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Decatur averaged 6.95% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Decatur's average VA mortgage closing costs are $4,479.

    The average rate for the prior week (2024-11-01) was 6.81% and one month ago for the week of 2024-10-04, the average rate was 5.83%.

    The average rate one year ago was 7.79%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Decatur 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 Decatur level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    LOANDEPOT.COM, LLC 3 5.46% $12,718
    Mortgage Research Center, LLC 3 6.67% $4,436
    FREEDOM MORTGAGE CORPORATION 2 6.75% $9,314
    Nations Lending Corporation 2 7.19% $3,140
    The Huntington National Bank 1 6.25% $9,605
    Barrington Bank & Trust Company, N.A. 1 5.50% $7,693
    THRIVE MORTGAGE, LLC 1 6.63% $2,393
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $22,150
    QUICKEN LOANS, LLC 1 6.49% $5,317
    RUOFF MORTGAGE COMPANY, INC. 1 6.50% $7,312

    The top Decatur VA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 3 VA loans originated. Their average total fees are $12,718, which is $8,282 higher than the next largest lender, Mortgage Research Center, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Decatur (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 $89,300 (11.1%) $112,290 (3.6%) 0.00 58
    2018-02-01 $92,400 (3.6%) $123,771 (6.1%) 0.00 54
    2018-03-01 $99,500 (10.7%) $133,926 (12.7%) 0.00 55
    2018-04-01 $110,000 (22.4%) $137,019 (17.9%) 0.00 48
    2018-05-01 $114,000 (27.4%) $141,621 (25.6%) 0.00 45
    2018-06-01 $104,250 (20.0%) $138,827 (8.9%) 0.00 56
    2018-07-01 $102,700 (2.8%) $141,062 (7.9%) 0.00 58
    2018-08-01 $103,175 (2.9%) $138,255 (6.1%) 0.00 59
    2018-09-01 $115,000 (15.1%) $139,259 (4.1%) 0.00 65
    2018-10-01 $109,900 (2.7%) $138,302 (2.0%) 0.00 68
    2018-11-01 $108,700 (9.0%) $130,540 (-3.1%) 0.00 69
    2018-12-01 $112,900 (25.5%) $134,284 (17.4%) 0.00 61
    2019-01-01 $111,125 (24.4%) $130,000 (15.8%) 0.00 57
    2019-02-01 $117,450 (27.1%) $134,320 (8.5%) 0.00 50
    2019-03-01 $117,714 (18.3%) $135,682 (1.3%) 0.00 53
    2019-04-01 $129,450 (17.7%) $148,742 (8.6%) 0.00 54
    2019-05-01 $144,990 (27.2%) $156,494 (10.5%) 0.00 47
    2019-06-01 $144,990 (39.1%) $172,309 (24.1%) 0.00 50
    2019-07-01 $133,750 (30.2%) $161,261 (14.3%) 0.00 56
    2019-08-01 $135,382 (31.2%) $156,936 (13.5%) 0.00 58
    2019-09-01 $135,955 (18.2%) $150,312 (7.9%) 0.00 54
    2019-10-01 $134,886 (22.7%) $144,678 (4.6%) 0.00 54
    2019-11-01 $128,900 (18.6%) $142,842 (9.4%) 0.00 50
    2019-12-01 $128,450 (13.8%) $147,938 (10.2%) 0.00 48
    2020-01-01 $118,300 (6.5%) $130,551 (0.4%) 0.00 44
    2020-02-01 $119,900 (2.1%) $142,745 (6.3%) 0.00 41
    2020-03-01 $127,750 (8.5%) $160,582 (18.4%) 0.00 34
    2020-04-01 $138,450 (7.0%) $173,269 (16.5%) 0.00 31
    2020-05-01 $199,500 (37.6%) $204,890 (30.9%) 0.00 23
    2020-06-01 $183,750 (26.7%) $205,011 (19.0%) 0.00 24
    2020-07-01 $124,850 (-6.7%) $163,870 (1.6%) 0.00 30
    2020-08-01 $120,000 (-11.4%) $160,520 (2.3%) 0.00 26
    2020-09-01 $145,750 (7.2%) $174,130 (15.9%) 0.00 28
    2020-10-01 $129,900 (-3.7%) $161,514 (11.6%) 0.00 35
    2020-11-01 $124,900 (-3.1%) $173,997 (21.8%) 0.00 31
    2020-12-01 $103,650 (-19.3%) $140,413 (-5.1%) 0.00 20
    2021-01-01 $108,500 (-8.3%) $142,054 (8.8%) 0.00 20
    2021-02-01 $137,950 (15.1%) $221,685 (55.3%) 0.00 15
    2021-03-01 $156,499 (22.5%) $241,906 (50.6%) 0.00 16
    2021-04-01 $126,725 (-8.5%) $258,798 (49.4%) 0.00 16
    2021-05-01 $114,900 (-42.4%) $280,410 (36.9%) 0.00 13
    2021-06-01 $108,675 (-40.9%) $228,478 (11.5%) 0.00 19
    2021-07-01 $134,700 (7.9%) $202,597 (23.6%) 0.00 24
    2021-08-01 $157,850 (31.5%) $219,276 (36.6%) 0.00 21
    2021-09-01 $177,400 (21.7%) $243,091 (39.6%) 0.00 18
    2021-10-01 $184,900 (42.3%) $252,080 (56.1%) 0.00 18
    2021-11-01 $184,900 (48.0%) $249,470 (43.4%) 0.00 15
    2021-12-01 $141,725 (36.7%) $213,390 (52.0%) 0.00 14
    2022-01-01 $148,900 (37.2%) $250,573 (76.4%) 0.00 14
    2022-02-01 $199,222 (44.4%) $288,768 (30.3%) 0.00 14
    2022-03-01 $180,950 (15.6%) $263,449 (8.9%) 0.00 16
    2022-04-01 $217,222 (71.4%) $265,124 (2.4%) 0.00 20
    2022-05-01 $198,561 (72.8%) $256,593 (-8.5%) 0.00 21
    2022-06-01 $177,400 (63.2%) $242,899 (6.3%) 0.00 28
    2022-07-01 $177,400 (31.7%) $240,154 (18.5%) 0.00 30
    2022-08-01 $159,900 (1.3%) $211,955 (-3.3%) 0.00 30
    2022-09-01 $144,950 (-18.3%) $203,287 (-16.4%) 0.00 33
    2022-10-01 $170,000 (-8.1%) $245,614 (-2.6%) 0.00 33
    2022-11-01 $190,224 (2.9%) $255,180 (2.3%) 0.00 30
    2022-12-01 $199,900 (41.1%) $254,070 (19.1%) 0.00 25
    2023-01-01 $232,927 (56.4%) $231,618 (-7.6%) 0.00 20
    2023-02-01 $229,927 (15.4%) $219,833 (-23.9%) 0.00 19
    2023-03-01 $235,988 (30.4%) $230,560 (-12.5%) 0.00 24
    2023-04-01 $218,449 (0.6%) $237,064 (-10.6%) 0.00 21
    2023-05-01 $234,950 (18.3%) $237,115 (-7.6%) 0.00 22
    2023-06-01 $209,575 (18.1%) $238,590 (-1.8%) 0.00 20
    2023-07-01 $202,450 (14.1%) $258,102 (7.5%) 0.00 23
    2023-08-01 $258,888 (61.9%) $254,494 (20.1%) 0.00 22
    2023-09-01 $239,500 (65.2%) $247,173 (21.6%) 0.00 27
    2023-10-01 $239,975 (41.2%) $234,168 (-4.7%) 0.00 33
    2023-11-01 $241,183 (26.8%) $244,177 (-4.3%) 0.00 37
    2023-12-01 $244,900 (22.5%) $227,327 (-10.5%) 0.00 32
    2024-01-01 $233,500 (0.3%) $220,266 (-4.9%) 0.00 34
    2024-02-01 $267,383 (16.3%) $240,748 (9.5%) 0.00 27
    2024-03-01 $259,900 (10.1%) $249,312 (8.1%) 0.00 31
    2024-04-01 $239,900 (9.8%) $227,115 (-4.2%) 0.00 26
    2024-05-01 $265,449 (13.0%) $241,704 (1.9%) 0.00 30
    2024-06-01 $265,998 (26.9%) $245,457 (2.9%) 0.00 29
    2024-07-01 $260,718 (28.8%) $252,024 (-2.4%) 0.00 37
    2024-08-01 $262,949 (1.6%) $249,888 (-1.8%) 0.00 33
    2024-09-01 $250,000 (4.4%) $247,328 (0.1%) 0.00 31
    2024-10-01 $217,250 (-9.5%) $233,187 (-0.4%) 0.00 30
    Decatur's median listing price for 2024-10-01 was $217,250, a difference of $-22,725 (-9.5%) versus the prior year and $-32,750 versus the prior month.

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

    Decatur's average listing price for 2024-10-01 was $233,187, a difference of $-981 (-0.4%) versus the prior year and $-14,141 versus the prior month.

    For the 2024-10-01 period, Decatur had 30 MLS listings, a difference of -1 listings (-3%) versus the prior month and -3 listings (-9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,543 sqft
    2018-02-01 0 days 1,614 sqft
    2018-03-01 0 days 1,581 sqft
    2018-04-01 0 days 1,686 sqft
    2018-05-01 0 days 1,573 sqft
    2018-06-01 0 days 1,441 sqft
    2018-07-01 0 days 1,680 sqft
    2018-08-01 0 days 1,691 sqft
    2018-09-01 0 days 1,616 sqft
    2018-10-01 0 days 1,583 sqft
    2018-11-01 0 days 1,583 sqft
    2018-12-01 0 days 1,591 sqft
    2019-01-01 0 days 1,574 sqft
    2019-02-01 0 days 1,728 sqft
    2019-03-01 0 days 1,675 sqft
    2019-04-01 0 days 1,657 sqft
    2019-05-01 0 days 1,802 sqft
    2019-06-01 0 days 1,812 sqft
    2019-07-01 0 days 1,772 sqft
    2019-08-01 0 days 1,737 sqft
    2019-09-01 0 days 1,690 sqft
    2019-10-01 0 days 1,662 sqft
    2019-11-01 0 days 1,652 sqft
    2019-12-01 0 days 1,662 sqft
    2020-01-01 0 days 1,675 sqft
    2020-02-01 0 days 1,772 sqft
    2020-03-01 0 days 1,756 sqft
    2020-04-01 0 days 1,767 sqft
    2020-05-01 0 days 1,804 sqft
    2020-06-01 0 days 1,956 sqft
    2020-07-01 0 days 1,813 sqft
    2020-08-01 0 days 1,562 sqft
    2020-09-01 0 days 1,902 sqft
    2020-10-01 0 days 1,792 sqft
    2020-11-01 0 days 1,730 sqft
    2020-12-01 0 days 1,581 sqft
    2021-01-01 0 days 1,467 sqft
    2021-02-01 0 days 1,461 sqft
    2021-03-01 0 days 1,551 sqft
    2021-04-01 0 days 1,785 sqft
    2021-05-01 0 days 1,850 sqft
    2021-06-01 0 days 1,722 sqft
    2021-07-01 0 days 1,728 sqft
    2021-08-01 0 days 1,800 sqft
    2021-09-01 0 days 1,827 sqft
    2021-10-01 0 days 2,003 sqft
    2021-11-01 0 days 2,018 sqft
    2021-12-01 0 days 2,024 sqft
    2022-01-01 0 days 1,751 sqft
    2022-02-01 0 days 1,766 sqft
    2022-03-01 0 days 1,708 sqft
    2022-04-01 0 days 2,002 sqft
    2022-05-01 0 days 1,894 sqft
    2022-06-01 0 days 1,797 sqft
    2022-07-01 0 days 1,803 sqft
    2022-08-01 0 days 1,669 sqft
    2022-09-01 0 days 1,656 sqft
    2022-10-01 0 days 1,680 sqft
    2022-11-01 0 days 1,820 sqft
    2022-12-01 0 days 1,606 sqft
    2023-01-01 0 days 1,482 sqft
    2023-02-01 0 days 1,476 sqft
    2023-03-01 0 days 1,645 sqft
    2023-04-01 0 days 1,588 sqft
    2023-05-01 0 days 1,522 sqft
    2023-06-01 0 days 1,868 sqft
    2023-07-01 0 days 1,940 sqft
    2023-08-01 0 days 1,824 sqft
    2023-09-01 0 days 1,830 sqft
    2023-10-01 0 days 1,792 sqft
    2023-11-01 0 days 1,763 sqft
    2023-12-01 0 days 1,735 sqft
    2024-01-01 0 days 1,735 sqft
    2024-02-01 0 days 1,792 sqft
    2024-03-01 0 days 1,790 sqft
    2024-04-01 0 days 1,721 sqft
    2024-05-01 0 days 1,731 sqft
    2024-06-01 0 days 1,707 sqft
    2024-07-01 0 days 1,713 sqft
    2024-08-01 0 days 1,755 sqft
    2024-09-01 0 days 1,743 sqft
    2024-10-01 0 days 1,728 sqft
    Decatur's median listing age (time on market) for 2024-10-01 was 0 days.

    Decatur's median square footage for active listings during the 2024-10-01 period was 1,728 sqft. One year prior, the average listing was 1,792 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.