Fort Wayne VA Loan Rates, Closing Costs & Stats

FORT WAYNE, IN

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.

Fort Wayne's 101 lenders originated 1,195 VA loans during 2021. The total origination value was $247,805,000, with an average VA loan value of $207,368.

Fort Wayne VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Fort Wayne averaged 0.44% for the week of 2022-11-25, compared to the national average (all VA variants) of 0% for the same period.

Fort Wayne's average VA mortgage closing costs are $4,254.

The average rate for the prior week (2022-11-18) was 6.83% and one month ago for the week of 2022-10-21, the average rate was 7.27%.

The average rate one year ago was 3.36%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.22%.

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

Fort Wayne 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 Fort Wayne level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 118 2.56% $4,681
Mortgage Research Center, LLC 101 2.88% $5,230
RUOFF MORTGAGE COMPANY, INC. 84 3.19% $5,810
FREEDOM MORTGAGE CORPORATION 81 2.63% $1,843
CALIBER HOME LOANS, INC. 40 2.68% $4,126
PENNYMAC LOAN SERVICES, LLC 39 2.73% $4,267
UNION HOME MORTGAGE CORP. 35 2.99% $4,327
NEW DAY FINANCIAL, LLC 33 2.76% $5,028
HALLMARK HOME MORTGAGE, LLC 27 2.89% $5,465
CROSSCOUNTRY MORTGAGE, LLC 25 3.00% $5,512
USAA Federal Savings Bank 22 2.73% $3,995
NAVY FEDERAL CREDIT UNION 20 2.51% $4,082
AMERICAN MORTGAGE SERVICE COMPANY 19 2.80% $4,038
Mr. Cooper ( Nationstar Mortgage ) 17 3.29% $2,822
Flagstar Bank, FSB 15 2.76% $5,103
VILLAGE CAPITAL MORTGAGE 15 2.62% $2,603
GVC MORTGAGE, INC. 14 3.21% $5,930
LAKEVIEW LOAN SERVICING, LLC 13 2.61% $1,927
LOANDEPOT.COM, LLC 13 2.94% $2,557
Union Savings Bank 13 2.55% $2,629
Wells Fargo Bank 13 2.61% $3,586
V.I.P. MORTGAGE, INC. 11 3.14% $4,273
First Guaranty Mortgage Corporation 11 2.61% $2,435
DHI MORTGAGE COMPANY, LTD. 10 2.71% $4,640
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 10 3.15% $5,506
ACADEMY MORTGAGE CORPORATION 10 2.91% $5,433
CLEARPATH LENDING 9 2.36% $3,285
NEWREZ LLC 9 2.62% $1,713
The Federal Savings Bank 9 2.64% $5,842
Barrington Bank & Trust Company, N.A. 9 2.70% $4,856
Low VA Rates, LLC 8 2.45% $2,596
TEACHERS CREDIT UNION 8 2.67% $6,442
UNITED WHOLESALE MORTGAGE, LLC 8 2.41% $4,898
Carrington Mortgage Services, LLC 8 2.94% $2,134
HOME POINT FINANCIAL CORPORATION 7 2.39% $4,427
Nations Lending Corporation 6 3.15% $5,829
FINANCE OF AMERICA MORTGAGE LLC 6 2.48% $3,062
AMERICAN FINANCIAL NETWORK, INC. 6 2.46% $4,640
Blue Ridge Bank 6 2.81% $4,297
AMERISAVE MORTGAGE CORPORATION 5 3.08% $6,230
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.94% $7,371
PLANET HOME LENDING, LLC 5 2.68% $3,380
GUARANTEED RATE, INC. 5 2.40% $4,710
PNC Bank 5 2.88% $3,129
SUCCESS MORTGAGE PARTNERS, INC. 4 3.72% $7,126
MID AMERICA MORTGAGE, INC. 4 3.25% $2,097
SUN WEST MORTGAGE COMPANY, INC. 3 2.54% $3,694
First Merchants Bank 3 2.63% $4,529
ACCELERATE MORTGAGE, LLC 3 2.25% $4,078
NP, Inc. 3 2.25% $3,919
POLARIS HOME FUNDING CORP. 3 3.00% $6,897
The Huntington National Bank 3 3.17% $1,583
RELIANCE FIRST CAPITAL, LLC 3 2.75% $5,179
SOVEREIGN LENDING GROUP INCORPORATED 3 2.50% $2,027
VAN DYK MORTGAGE CORPORATION 2 2.88% $1,792
Old National Bank 2 3.00% $2,850
Citizens Bank 2 2.69% $5,317
InterContinental Capital Group, Inc 2 2.44% $4,633
AmeriHome Mortgage Company, LLC 2 2.75% $2,011
Mid-Continent Funding, Inc. 2 2.75% $6,015
PENTAGON FEDERAL CREDIT UNION 2 2.31% $9,257
North American Savings Bank, F.S.B. 2 2.25% $2,957
OCEANSIDE MORTGAGE COMPANY 2 2.25% $1,046
UNITED SECURITY FINANCIAL CORP 2 2.25% $4,355
Wyndham Capital Mortgage, Inc. 1 2.63% $1,355
AMERICAN FINANCING CORPORATION 1 3.50% $1,505
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $2,804
AMERIFIRST FINANCIAL CORPORATION 1 2.88% $6,781
BNC National Bank 1 2.25% $2,030
BROKER SOLUTIONS, INC. 1 2.25% $2,194
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $7,570
CityWorth Mortgage LLC 1 2.25% $563
Commonwealth Bank and Trust Company 1 2.50% $2,487
DAS Acquisition Company, LLC 1 3.75% $14,383
EMBRACE HOME LOANS, INC. 1 2.63% $8,942
Fifth Third Bank 1 3.00% $2,131
First Federal Bank 1 3.50% $6,156
FLAT BRANCH MORTGAGE, INC. 1 2.75% $4,336
HOMESIDE FINANCIAL, LLC 1 2.75% $3,349
HOMESTEAD FUNDING CORP. 1 2.25% $1,066
Horizon Bank 1 3.13% $179
JPMorgan Chase Bank 1 3.13% $8,224
KS StateBank 1 2.25% $112
LOANPAL, LLC 1 3.25% $3,460
Magnolia Bank 1 3.13% $3,326
Meridian Bank Corporation 1 2.25% $3,694
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.75% $6,154
MYCUMORTGAGE, LLC 1 2.75% $3,237
PHH Mortgage Corporation 1 3.75% $1,254
PLAZA HOME MORTGAGE, INC. 1 2.75% $2,113
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $2,433
ROYAL UNITED MORTGAGE LLC 1 3.25% $1,936
Sierra Pacific Mortgage Company, Inc. 1 2.25% $9,504
SIRVA MORTGAGE, INC. 1 2.38% $17,009
SOUTHWEST FUNDING, LP 1 2.63% $2,130
SOUTHWEST STAGE FUNDING, LLC 1 2.25% $2,767
The State Bank and Trust Company 1 2.38% $1,878
Three Rivers Federal Credit Union 1 2.50% $3,015
THRIVE MORTGAGE, LLC 1 3.00% $2,163
U.S. Bank 1 2.63% $4,524
Watermark Capital, Inc. 1 2.38% $1,984

The top Fort Wayne VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 118 VA loans originated. Their average total fees are $4,681, which is $549 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Fort Wayne VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,843), LAKEVIEW LOAN SERVICING, LLC ($1,927), First Guaranty Mortgage Corporation ($2,435), LOANDEPOT.COM, LLC ($2,557) and VILLAGE CAPITAL MORTGAGE ($2,603).

The lowest rate Fort Wayne VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (2.51%), Union Savings Bank (2.55%), QUICKEN LOANS, LLC (2.56%), Wells Fargo Bank (2.61%) and LAKEVIEW LOAN SERVICING, LLC (2.61%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fort Wayne (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 $174,950 (18.8%) $246,025 (6.6%) 0.65 853
2018-02-01 $182,700 (15.0%) $256,026 (5.5%) 0.66 815
2018-03-01 $190,272 (2.9%) $276,830 (4.9%) 0.67 715
2018-04-01 $199,200 (3.1%) $290,711 (6.7%) 0.68 687
2018-05-01 $193,268 (0.6%) $284,603 (4.6%) 0.65 756
2018-06-01 $198,250 (5.8%) $284,848 (10.2%) 0.66 787
2018-07-01 $198,950 (8.8%) $283,526 (9.4%) 0.66 895
2018-08-01 $193,808 (7.7%) $270,824 (2.1%) 0.65 963
2018-09-01 $193,085 (7.3%) $267,212 (-0.2%) 0.65 1,016
2018-10-01 $189,900 (7.8%) $264,584 (-1.3%) 0.64 1,019
2018-11-01 $185,435 (7.9%) $260,050 (-1.5%) 0.63 1,008
2018-12-01 $185,000 (8.9%) $261,931 (9.0%) 0.64 878
2019-01-01 $187,400 (7.1%) $263,063 (6.9%) 0.65 792
2019-02-01 $208,450 (14.1%) $282,788 (10.5%) 0.70 687
2019-03-01 $221,043 (16.2%) $283,791 (2.5%) 0.72 608
2019-04-01 $234,043 (17.5%) $281,593 (-3.1%) 0.74 523
2019-05-01 $235,150 (21.7%) $286,116 (0.5%) 0.74 541
2019-06-01 $231,662 (16.9%) $284,189 (-0.2%) 0.72 627
2019-07-01 $229,900 (15.6%) $284,290 (0.3%) 0.72 697
2019-08-01 $221,745 (14.4%) $281,568 (4.0%) 0.70 755
2019-09-01 $209,513 (8.5%) $273,307 (2.3%) 0.67 841
2019-10-01 $199,950 (5.3%) $265,227 (0.2%) 0.65 905
2019-11-01 $199,757 (7.7%) $258,839 (-0.5%) 0.65 881
2019-12-01 $204,808 (10.7%) $261,372 (-0.2%) 0.68 783
2020-01-01 $208,329 (11.2%) $261,546 (-0.6%) 0.70 663
2020-02-01 $234,900 (12.7%) $292,944 (3.6%) 0.77 545
2020-03-01 $251,300 (13.7%) $302,468 (6.6%) 0.79 530
2020-04-01 $241,700 (3.3%) $293,537 (4.2%) 0.76 547
2020-05-01 $239,900 (2.0%) $288,441 (0.8%) 0.73 547
2020-06-01 $239,900 (3.6%) $292,833 (3.0%) 0.71 468
2020-07-01 $237,932 (3.5%) $306,142 (7.7%) 0.69 464
2020-08-01 $234,900 (5.9%) $303,956 (8.0%) 0.67 460
2020-09-01 $224,550 (7.2%) $282,471 (3.4%) 0.64 475
2020-10-01 $219,900 (10.0%) $287,043 (8.2%) 0.63 436
2020-11-01 $220,000 (10.1%) $286,866 (10.8%) 0.64 407
2020-12-01 $219,450 (7.2%) $285,854 (9.4%) 0.65 340
2021-01-01 $220,860 (6.0%) $285,926 (9.3%) 0.66 288
2021-02-01 $230,900 (-1.7%) $293,305 (0.1%) 0.67 256
2021-03-01 $233,714 (-7.0%) $280,306 (-7.3%) 0.66 239
2021-04-01 $245,900 (1.7%) $301,508 (2.7%) 0.67 206
2021-05-01 $245,000 (2.1%) $304,824 (5.7%) 0.65 210
2021-06-01 $227,450 (-5.2%) $303,292 (3.6%) 0.60 255
2021-07-01 $249,900 (5.0%) $335,723 (9.7%) 0.66 298
2021-08-01 $249,900 (6.4%) $309,783 (1.9%) 0.67 369
2021-09-01 $232,369 (3.5%) $297,881 (5.5%) 0.62 377
2021-10-01 $222,450 (1.2%) $284,982 (-0.7%) 0.59 366
2021-11-01 $231,950 (5.4%) $293,311 (2.3%) 0.62 372
2021-12-01 $231,416 (5.5%) $288,126 (0.8%) 0.63 347
2022-01-01 $249,900 (13.2%) $304,133 (6.4%) 0.68 256
2022-02-01 $288,700 (25.0%) $325,807 (11.1%) 0.75 235
2022-03-01 $259,050 (10.8%) $305,831 (9.1%) 0.65 230
2022-04-01 $269,900 (9.8%) $313,351 (3.9%) 0.64 247
2022-05-01 $279,950 (14.3%) $316,544 (3.8%) 0.64 323
2022-06-01 $287,425 (26.4%) $319,394 (5.3%) 0.64 407
2022-07-01 $288,250 (15.4%) $330,640 (-1.5%) 0.65 464
2022-08-01 $297,450 (19.0%) $335,754 (8.4%) 0.69 463
2022-09-01 $299,900 (29.1%) $337,373 (13.3%) 0.70 494
2022-10-01 $295,000 (32.6%) $337,105 (18.3%) 0.69 569
Fort Wayne's median listing price for 2022-10-01 was $295,000, a difference of $72,550 (32.6%) versus the prior year and $-4,900 versus the prior month.

Fort Wayne's median listing price comes in at 69% of the national average.

Fort Wayne's average listing price for 2022-10-01 was $337,105, a difference of $52,123 (18.3%) versus the prior year and $-268 versus the prior month.

For the 2022-10-01 period, Fort Wayne had 569 MLS listings, a difference of 75 listings (15%) versus the prior month and 203 listings (55%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fort Wayne (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 68 days 1,881 sqft
2018-02-01 58 days 1,902 sqft
2018-03-01 47 days 1,982 sqft
2018-04-01 43 days 2,031 sqft
2018-05-01 31 days 1,990 sqft
2018-06-01 30 days 2,079 sqft
2018-07-01 31 days 2,078 sqft
2018-08-01 35 days 1,987 sqft
2018-09-01 40 days 1,979 sqft
2018-10-01 41 days 1,983 sqft
2018-11-01 45 days 1,972 sqft
2018-12-01 58 days 1,939 sqft
2019-01-01 64 days 1,921 sqft
2019-02-01 61 days 1,925 sqft
2019-03-01 53 days 1,917 sqft
2019-04-01 50 days 1,924 sqft
2019-05-01 32 days 2,009 sqft
2019-06-01 31 days 2,034 sqft
2019-07-01 32 days 1,980 sqft
2019-08-01 34 days 1,961 sqft
2019-09-01 38 days 1,937 sqft
2019-10-01 42 days 1,919 sqft
2019-11-01 43 days 1,909 sqft
2019-12-01 51 days 1,905 sqft
2020-01-01 59 days 1,907 sqft
2020-02-01 60 days 1,979 sqft
2020-03-01 35 days 1,997 sqft
2020-04-01 40 days 1,942 sqft
2020-05-01 42 days 1,977 sqft
2020-06-01 39 days 1,970 sqft
2020-07-01 38 days 1,980 sqft
2020-08-01 33 days 1,971 sqft
2020-09-01 30 days 1,904 sqft
2020-10-01 35 days 1,917 sqft
2020-11-01 35 days 1,912 sqft
2020-12-01 41 days 1,876 sqft
2021-01-01 39 days 1,820 sqft
2021-02-01 39 days 1,782 sqft
2021-03-01 29 days 1,779 sqft
2021-04-01 27 days 1,838 sqft
2021-05-01 15 days 1,890 sqft
2021-06-01 10 days 1,833 sqft
2021-07-01 16 days 1,938 sqft
2021-08-01 23 days 1,878 sqft
2021-09-01 25 days 1,851 sqft
2021-10-01 28 days 1,843 sqft
2021-11-01 27 days 1,801 sqft
2021-12-01 36 days 1,726 sqft
2022-01-01 45 days 1,792 sqft
2022-02-01 24 days 1,797 sqft
2022-03-01 26 days 1,774 sqft
2022-04-01 18 days 1,805 sqft
2022-05-01 16 days 1,893 sqft
2022-06-01 21 days 1,941 sqft
2022-07-01 25 days 1,978 sqft
2022-08-01 26 days 1,936 sqft
2022-09-01 25 days 1,962 sqft
2022-10-01 30 days 1,908 sqft
Fort Wayne's median listing age (time on market) for 2022-10-01 was 30 days. This is 7% longer than the same period one year ago.

Fort Wayne's median square footage for active listings during the 2022-10-01 period was 1,908 sqft. One year prior, the average listing was 1,843 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.