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 81 lenders originated 629 VA loans during 2022. The total origination value was $159,985,000, with an average VA loan value of $254,348.

Fort Wayne VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Fort Wayne averaged 6.74% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Fort Wayne's average VA mortgage closing costs are $4,721.

The average rate for the prior week (2024-02-23) was 6.67% and one month ago for the week of 2024-01-26, the average rate was 6.2%.

The average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.61%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 90 5.19% $6,322
RUOFF MORTGAGE COMPANY, INC. 53 5.15% $5,526
QUICKEN LOANS, LLC 49 4.12% $10,336
FREEDOM MORTGAGE CORPORATION 30 4.24% $10,544
HALLMARK HOME MORTGAGE, LLC 26 4.99% $8,635
USAA Federal Savings Bank 22 4.83% $5,021
NAVY FEDERAL CREDIT UNION 21 4.29% $4,279
LOANDEPOT.COM, LLC 19 4.39% $7,697
CROSSCOUNTRY MORTGAGE, LLC 18 4.71% $7,288
UNION HOME MORTGAGE CORP. 17 5.04% $6,469
DHI MORTGAGE COMPANY, LTD. 16 3.66% $3,888
NEW DAY FINANCIAL, LLC 16 6.00% $8,341
GVC MORTGAGE, INC. 13 4.84% $7,440
PENNYMAC LOAN SERVICES, LLC 12 3.86% $6,488
UNITED WHOLESALE MORTGAGE, LLC 11 5.38% $14,285
Mr. Cooper ( Nationstar Mortgage ) 10 4.88% $10,509
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 9 5.75% $8,162
V.I.P. MORTGAGE, INC. 8 5.11% $7,596
NEWREZ LLC 8 4.25% $5,807
AMERISAVE MORTGAGE CORPORATION 7 3.88% $10,221
The Federal Savings Bank 7 5.61% $12,226
CALIBER HOME LOANS, INC. 6 4.05% $5,624
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.12% $7,432
Flagstar Bank, FSB 6 4.35% $8,057
POLARIS HOME FUNDING CORP. 5 5.50% $8,093
Barrington Bank & Trust Company, N.A. 5 4.45% $7,313
Wells Fargo Bank 5 4.23% $5,088
BROKER SOLUTIONS, INC. 5 5.05% $6,285
JPMorgan Chase Bank 5 3.85% $4,749
Carrington Mortgage Services, LLC 4 4.47% $9,061
Union Savings Bank 4 5.63% $4,477
Nations Lending Corporation 4 6.03% $6,681
GUARANTEED RATE, INC. 4 5.09% $3,340
TEACHERS CREDIT UNION 3 5.33% $2,458
Fifth Third Bank 3 4.63% $4,983
ACADEMY MORTGAGE CORPORATION 3 5.29% $6,349
LAKEVIEW LOAN SERVICING, LLC 3 3.75% $2,700
AMERICAN FINANCING CORPORATION 3 4.54% $8,443
VAN DYK MORTGAGE CORPORATION 3 5.33% $7,957
CLEARPATH LENDING 3 4.17% $21,936
Magnolia Bank 3 4.71% $7,572
GENEVA FINANCIAL, LLC 3 5.42% $7,939
SUCCESS MORTGAGE PARTNERS, INC. 2 4.06% $11,953
VILLAGE CAPITAL MORTGAGE 2 5.56% $22,420
North American Savings Bank, F.S.B. 2 4.19% $10,035
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.37% $5,579
Mid-Continent Funding, Inc. 2 5.00% $4,715
Servion, Inc. 2 5.50% $5,380
PLANET HOME LENDING, LLC 2 4.00% $18,822
MOVEMENT MORTGAGE, LLC 2 5.94% $2,684
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $13,074
First Guaranty Mortgage Corporation 2 4.00% $8,229
FINANCE OF AMERICA MORTGAGE LLC 2 4.56% $5,899
HOME POINT FINANCIAL CORPORATION 2 3.56% $2,050
Wyndham Capital Mortgage, Inc. 1 4.50% $5,129
AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $9,730
AMERICAN MORTGAGE SERVICE COMPANY 1 6.25% $2,444
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $2,215
Blue Ridge Bank 1 5.62% $8,641
CARDINAL FINANCIAL 1 3.25% $11,126
CHURCHILL MORTGAGE CORPORATION 1 5.25% $6,872
GUILD MORTGAGE COMPANY 1 5.38% $4,281
HOMESIDE FINANCIAL, LLC 1 5.13% $10,889
Horizon Bank 1 3.50% $0
JAMES B. NUTTER & COMPANY 1 5.25% $2,871
LOANPAL, LLC 1 5.00% $5,008
Low VA Rates, LLC 1 5.75% $19,377
MILESTONE HOME LENDING, LLC 1 3.88% $4,816
MYCUMORTGAGE, LLC 1 5.63% $2,074
NATIONS RELIABLE LENDING, LLC 1 5.50% $6,615
NBKC BANK 1 2.38% $2,647
NETWORK CAPITAL FUNDING CORPORATION 1 4.63% $12,198
Northpointe Bank 1 4.75% $4,251
NP, Inc. 1 2.38% $2,220
Old National Bank 1 5.25% $1,838
PENTAGON FEDERAL CREDIT UNION 1 3.75% $3,367
PNC Bank 1 5.13% $5,904
ROSS MORTGAGE CORPORATION 1 5.50% $6,600
SIRVA MORTGAGE, INC. 1 6.75% $5,779
Texana Bank 1 4.25% $11,869
United Fidelity Funding Corp. 1 7.25% $6,220

The top Fort Wayne VA lender as defined by loan originations is Mortgage Research Center, LLC, with 90 VA loans originated. Their average total fees are $6,322, which is $797 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Fort Wayne VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($3,888), NAVY FEDERAL CREDIT UNION ($4,279), USAA Federal Savings Bank ($5,021), RUOFF MORTGAGE COMPANY, INC. ($5,526) and Mortgage Research Center, LLC ($6,322).

The lowest rate Fort Wayne VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (3.66%), PENNYMAC LOAN SERVICES, LLC (3.86%), QUICKEN LOANS, LLC (4.12%), FREEDOM MORTGAGE CORPORATION (4.24%) and NAVY FEDERAL CREDIT UNION (4.29%).


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%) $245,909 (6.6%) 0.65 854
2018-02-01 $182,700 (15.0%) $255,962 (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 $193,450 (0.7%) $284,603 (4.6%) 0.65 756
2018-06-01 $198,250 (5.8%) $284,848 (10.3%) 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 (-1.2%) 0.64 1,019
2018-11-01 $185,435 (7.9%) $260,133 (-1.4%) 0.63 1,008
2018-12-01 $185,000 (8.9%) $261,931 (9.1%) 0.64 878
2019-01-01 $187,400 (7.1%) $263,063 (7.0%) 0.65 792
2019-02-01 $208,450 (14.1%) $282,788 (10.5%) 0.70 687
2019-03-01 $220,850 (16.1%) $283,291 (2.3%) 0.72 608
2019-04-01 $233,700 (17.3%) $280,713 (-3.4%) 0.74 521
2019-05-01 $235,549 (21.8%) $287,069 (0.9%) 0.74 538
2019-06-01 $234,900 (18.5%) $285,050 (0.1%) 0.73 623
2019-07-01 $229,900 (15.6%) $284,863 (0.5%) 0.72 692
2019-08-01 $221,745 (14.4%) $282,106 (4.2%) 0.70 750
2019-09-01 $209,513 (8.5%) $273,777 (2.5%) 0.67 836
2019-10-01 $199,950 (5.3%) $265,634 (0.4%) 0.65 900
2019-11-01 $199,614 (7.7%) $259,215 (-0.4%) 0.65 876
2019-12-01 $205,479 (11.1%) $261,811 (-0.1%) 0.69 778
2020-01-01 $208,500 (11.3%) $262,055 (-0.4%) 0.70 658
2020-02-01 $236,900 (13.7%) $293,866 (3.9%) 0.78 540
2020-03-01 $251,400 (13.8%) $303,516 (7.1%) 0.79 525
2020-04-01 $242,038 (3.6%) $294,461 (4.9%) 0.76 542
2020-05-01 $239,900 (1.9%) $289,314 (0.8%) 0.73 542
2020-06-01 $239,900 (2.1%) $293,929 (3.1%) 0.71 463
2020-07-01 $238,932 (3.9%) $307,411 (7.9%) 0.69 459
2020-08-01 $237,800 (7.2%) $305,151 (8.2%) 0.68 455
2020-09-01 $224,925 (7.4%) $283,435 (3.5%) 0.64 470
2020-10-01 $219,900 (10.0%) $288,148 (8.5%) 0.63 431
2020-11-01 $221,418 (10.9%) $288,020 (11.1%) 0.65 402
2020-12-01 $219,725 (6.9%) $287,222 (9.7%) 0.65 335
2021-01-01 $222,570 (6.8%) $287,538 (9.7%) 0.66 283
2021-02-01 $231,375 (-2.3%) $295,359 (0.5%) 0.67 251
2021-03-01 $237,045 (-5.7%) $282,150 (-7.0%) 0.67 234
2021-04-01 $247,688 (2.3%) $304,246 (3.3%) 0.67 201
2021-05-01 $249,450 (4.0%) $307,405 (6.3%) 0.66 205
2021-06-01 $230,762 (-3.8%) $305,472 (3.9%) 0.61 250
2021-07-01 $249,950 (4.6%) $338,101 (10.0%) 0.66 293
2021-08-01 $249,900 (5.1%) $311,285 (2.0%) 0.67 364
2021-09-01 $232,500 (3.4%) $299,280 (5.6%) 0.62 372
2021-10-01 $224,900 (2.3%) $286,206 (-0.7%) 0.60 361
2021-11-01 $231,950 (4.8%) $294,703 (2.3%) 0.62 367
2021-12-01 $232,400 (5.8%) $289,482 (0.8%) 0.63 342
2022-01-01 $249,900 (12.3%) $306,411 (6.6%) 0.68 251
2022-02-01 $289,073 (24.9%) $328,633 (11.3%) 0.75 230
2022-03-01 $261,175 (10.2%) $307,663 (9.0%) 0.65 225
2022-04-01 $274,950 (11.0%) $316,202 (3.9%) 0.66 242
2022-05-01 $281,725 (12.9%) $318,391 (3.6%) 0.64 318
2022-06-01 $288,140 (24.9%) $320,921 (5.1%) 0.64 402
2022-07-01 $289,600 (15.9%) $332,197 (-1.8%) 0.65 459
2022-08-01 $299,450 (19.8%) $337,318 (8.4%) 0.69 458
2022-09-01 $299,925 (29.0%) $338,893 (13.2%) 0.70 489
2022-10-01 $299,000 (33.0%) $338,341 (18.2%) 0.70 564
2022-11-01 $289,900 (25.0%) $335,193 (13.7%) 0.70 573
2022-12-01 $289,900 (24.7%) $329,821 (13.9%) 0.72 519
2023-01-01 $309,950 (24.0%) $350,731 (14.5%) 0.77 420
2023-02-01 $319,600 (10.6%) $368,481 (12.1%) 0.77 375
2023-03-01 $339,399 (30.0%) $401,810 (30.6%) 0.80 344
2023-04-01 $343,900 (25.1%) $392,544 (24.1%) 0.80 398
2023-05-01 $347,900 (23.5%) $406,860 (27.8%) 0.79 425
2023-06-01 $349,900 (21.4%) $410,903 (28.0%) 0.79 481
2023-07-01 $349,900 (20.8%) $409,221 (23.2%) 0.80 513
2023-08-01 $329,400 (10.0%) $389,689 (15.5%) 0.76 568
2023-09-01 $312,199 (4.1%) $379,774 (12.1%) 0.73 609
2023-10-01 $302,450 (1.2%) $370,164 (9.4%) 0.71 690
2023-11-01 $307,450 (6.1%) $364,164 (8.6%) 0.73 695
2023-12-01 $299,999 (3.5%) $359,171 (8.9%) 0.73 659
2024-01-01 $312,150 (0.7%) $367,476 (4.8%) 0.76 565
Fort Wayne's median listing price for 2024-01-01 was $312,150, a difference of $2,200 (0.7%) versus the prior year and $12,151 versus the prior month.

Fort Wayne's median listing price comes in at 76% of the national average.

Fort Wayne's average listing price for 2024-01-01 was $367,476, a difference of $16,745 (4.8%) versus the prior year and $8,305 versus the prior month.

For the 2024-01-01 period, Fort Wayne had 565 MLS listings, a difference of -94 listings (-14%) versus the prior month and 145 listings (35%) 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 66 days 1,880 sqft
2018-02-01 54 days 1,900 sqft
2018-03-01 46 days 1,982 sqft
2018-04-01 41 days 2,031 sqft
2018-05-01 30 days 1,990 sqft
2018-06-01 30 days 2,079 sqft
2018-07-01 30 days 2,078 sqft
2018-08-01 34 days 1,987 sqft
2018-09-01 38 days 1,979 sqft
2018-10-01 39 days 1,983 sqft
2018-11-01 44 days 1,973 sqft
2018-12-01 57 days 1,939 sqft
2019-01-01 62 days 1,921 sqft
2019-02-01 57 days 1,925 sqft
2019-03-01 49 days 1,917 sqft
2019-04-01 45 days 1,925 sqft
2019-05-01 30 days 2,012 sqft
2019-06-01 30 days 2,034 sqft
2019-07-01 30 days 1,980 sqft
2019-08-01 33 days 1,961 sqft
2019-09-01 37 days 1,936 sqft
2019-10-01 40 days 1,918 sqft
2019-11-01 40 days 1,908 sqft
2019-12-01 49 days 1,905 sqft
2020-01-01 58 days 1,907 sqft
2020-02-01 58 days 1,979 sqft
2020-03-01 34 days 1,998 sqft
2020-04-01 40 days 1,938 sqft
2020-05-01 40 days 1,972 sqft
2020-06-01 38 days 1,968 sqft
2020-07-01 36 days 1,978 sqft
2020-08-01 31 days 1,968 sqft
2020-09-01 30 days 1,903 sqft
2020-10-01 33 days 1,914 sqft
2020-11-01 33 days 1,910 sqft
2020-12-01 39 days 1,874 sqft
2021-01-01 39 days 1,818 sqft
2021-02-01 37 days 1,780 sqft
2021-03-01 28 days 1,771 sqft
2021-04-01 24 days 1,837 sqft
2021-05-01 14 days 1,885 sqft
2021-06-01 9 days 1,845 sqft
2021-07-01 16 days 1,931 sqft
2021-08-01 21 days 1,876 sqft
2021-09-01 24 days 1,850 sqft
2021-10-01 26 days 1,843 sqft
2021-11-01 26 days 1,799 sqft
2021-12-01 34 days 1,725 sqft
2022-01-01 40 days 1,792 sqft
2022-02-01 22 days 1,794 sqft
2022-03-01 25 days 1,772 sqft
2022-04-01 17 days 1,802 sqft
2022-05-01 15 days 1,889 sqft
2022-06-01 19 days 1,939 sqft
2022-07-01 24 days 1,978 sqft
2022-08-01 25 days 1,930 sqft
2022-09-01 24 days 1,952 sqft
2022-10-01 29 days 1,906 sqft
2022-11-01 37 days 1,844 sqft
2022-12-01 56 days 1,832 sqft
2023-01-01 68 days 1,832 sqft
2023-02-01 58 days 1,861 sqft
2023-03-01 41 days 1,935 sqft
2023-04-01 29 days 1,880 sqft
2023-05-01 30 days 1,933 sqft
2023-06-01 31 days 2,007 sqft
2023-07-01 32 days 2,030 sqft
2023-08-01 33 days 1,992 sqft
2023-09-01 37 days 1,948 sqft
2023-10-01 37 days 1,952 sqft
2023-11-01 40 days 1,928 sqft
2023-12-01 50 days 1,910 sqft
2024-01-01 57 days 1,917 sqft
Fort Wayne's median listing age (time on market) for 2024-01-01 was 57 days. This is -16% shorter than the same period one year ago.

Fort Wayne's median square footage for active listings during the 2024-01-01 period was 1,917 sqft. One year prior, the average listing was 1,832 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.