Fort Wayne VA Loans

FORT WAYNE, 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 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 5.6% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.63% and one month ago for the week of 2022-04-08, the average rate was 5.15%.

    The average rate one year ago was 3.06%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

    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 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. Total Fees
    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 & INVESTMENT LLC 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 & INVESTMENT LLC ($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 $169,900 (21.4%) $239,791 (-1.8%) 0.63 904
    2018-02-01 $176,400 (19.6%) $248,445 (-3.3%) 0.64 855
    2018-03-01 $188,000 (8.1%) $267,116 (-10.3%) 0.65 765
    2018-04-01 $193,450 (8.1%) $278,525 (7.4%) 0.65 736
    2018-05-01 $189,900 (5.6%) $271,480 (5.1%) 0.63 811
    2018-06-01 $194,900 (10.0%) $273,985 (10.9%) 0.65 861
    2018-07-01 $195,450 (11.7%) $273,237 (10.5%) 0.65 956
    2018-08-01 $189,900 (10.2%) $260,944 (3.3%) 0.63 1,017
    2018-09-01 $188,945 (8.0%) $256,643 (-0.2%) 0.63 1,090
    2018-10-01 $183,950 (8.3%) $254,678 (-1.2%) 0.62 1,083
    2018-11-01 $179,900 (8.1%) $249,717 (-1.5%) 0.60 1,065
    2018-12-01 $179,900 (12.4%) $252,227 (8.9%) 0.62 924
    2019-01-01 $182,400 (7.4%) $253,917 (5.9%) 0.63 832
    2019-02-01 $198,900 (12.8%) $271,460 (9.3%) 0.67 720
    2019-03-01 $214,900 (14.3%) $274,931 (2.9%) 0.70 627
    2019-04-01 $232,936 (20.4%) $274,844 (-1.3%) 0.73 529
    2019-05-01 $231,900 (22.1%) $278,610 (2.6%) 0.71 543
    2019-06-01 $229,500 (17.8%) $274,541 (0.2%) 0.71 637
    2019-07-01 $227,400 (16.4%) $273,818 (0.2%) 0.71 714
    2019-08-01 $209,900 (10.5%) $264,216 (1.3%) 0.66 813
    2019-09-01 $192,400 (1.8%) $249,724 (-2.7%) 0.61 893
    2019-10-01 $198,400 (7.9%) $256,715 (0.8%) 0.63 935
    2019-11-01 $189,900 (5.6%) $250,563 (0.3%) 0.61 904
    2019-12-01 $193,000 (7.3%) $249,633 (-1.0%) 0.64 810
    2020-01-01 $199,307 (9.3%) $250,054 (-1.5%) 0.66 673
    2020-02-01 $224,900 (13.1%) $279,587 (3.0%) 0.73 570
    2020-03-01 $245,900 (14.4%) $294,062 (7.0%) 0.77 544
    2020-04-01 $235,975 (1.3%) $286,644 (4.3%) 0.74 554
    2020-05-01 $237,500 (2.4%) $283,684 (1.8%) 0.72 542
    2020-06-01 $234,950 (2.4%) $285,912 (4.1%) 0.69 474
    2020-07-01 $234,400 (3.1%) $296,154 (8.2%) 0.67 469
    2020-08-01 $233,000 (11.0%) $292,682 (10.8%) 0.67 467
    2020-09-01 $219,950 (14.3%) $273,308 (9.4%) 0.63 477
    2020-10-01 $214,900 (8.3%) $280,501 (9.3%) 0.61 442
    2020-11-01 $219,900 (15.8%) $280,541 (12.0%) 0.63 404
    2020-12-01 $218,900 (13.4%) $279,930 (12.1%) 0.64 348
    2021-01-01 $220,000 (10.4%) $281,192 (12.5%) 0.65 297
    2021-02-01 $231,938 (3.1%) $294,684 (5.4%) 0.67 256
    2021-03-01 $234,845 (-4.5%) $280,102 (-4.8%) 0.66 231
    2021-04-01 $245,395 (4.0%) $298,026 (4.0%) 0.66 198
    2021-05-01 $249,900 (5.2%) $303,837 (7.1%) 0.66 210
    2021-06-01 $234,124 (-0.4%) $306,497 (7.2%) 0.61 253
    2021-07-01 $238,200 (1.6%) $323,369 (9.2%) 0.62 281
    2021-08-01 $239,900 (3.0%) $300,417 (2.6%) 0.63 369
    2021-09-01 $226,950 (3.2%) $289,568 (6.0%) 0.60 382
    2021-10-01 $224,900 (4.7%) $284,860 (1.6%) 0.59 371
    2021-11-01 $227,500 (3.5%) $290,974 (3.7%) 0.60 375
    2021-12-01 $232,450 (6.2%) $290,286 (3.7%) 0.62 344
    2022-01-01 $249,900 (13.6%) $304,434 (8.3%) 0.67 257
    2022-02-01 $289,900 (25.0%) $325,185 (10.4%) 0.74 237
    2022-03-01 $254,950 (8.6%) $304,904 (8.9%) 0.63 226
    2022-04-01 $270,000 (10.0%) $313,486 (5.2%) 0.64 216
    Fort Wayne's median listing price for 2022-04-01 was $270,000, a difference of $24,605 (10.0%) versus the prior year and $15,050 versus the prior month.

    Fort Wayne's median listing price comes in at 64% of the national average.

    Fort Wayne's average listing price for 2022-04-01 was $313,486, a difference of $15,460 (5.2%) versus the prior year and $8,582 versus the prior month.

    For the 2022-04-01 period, Fort Wayne had 216 MLS listings, a difference of -10 listings (-4%) versus the prior month and 18 listings (9%) 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 70 days 1,865 sqft
    2018-02-01 59 days 1,882 sqft
    2018-03-01 48 days 1,960 sqft
    2018-04-01 41 days 1,984 sqft
    2018-05-01 31 days 1,958 sqft
    2018-06-01 31 days 2,031 sqft
    2018-07-01 32 days 2,054 sqft
    2018-08-01 36 days 1,961 sqft
    2018-09-01 40 days 1,956 sqft
    2018-10-01 41 days 1,956 sqft
    2018-11-01 46 days 1,941 sqft
    2018-12-01 59 days 1,922 sqft
    2019-01-01 63 days 1,897 sqft
    2019-02-01 61 days 1,893 sqft
    2019-03-01 63 days 1,901 sqft
    2019-04-01 55 days 1,918 sqft
    2019-05-01 36 days 1,993 sqft
    2019-06-01 35 days 2,006 sqft
    2019-07-01 34 days 1,944 sqft
    2019-08-01 37 days 1,891 sqft
    2019-09-01 42 days 1,853 sqft
    2019-10-01 44 days 1,898 sqft
    2019-11-01 44 days 1,894 sqft
    2019-12-01 50 days 1,881 sqft
    2020-01-01 59 days 1,878 sqft
    2020-02-01 59 days 1,957 sqft
    2020-03-01 39 days 1,981 sqft
    2020-04-01 40 days 1,938 sqft
    2020-05-01 45 days 1,951 sqft
    2020-06-01 42 days 1,949 sqft
    2020-07-01 38 days 1,967 sqft
    2020-08-01 35 days 1,968 sqft
    2020-09-01 34 days 1,895 sqft
    2020-10-01 35 days 1,910 sqft
    2020-11-01 38 days 1,914 sqft
    2020-12-01 40 days 1,865 sqft
    2021-01-01 44 days 1,818 sqft
    2021-02-01 43 days 1,795 sqft
    2021-03-01 40 days 1,776 sqft
    2021-04-01 37 days 1,837 sqft
    2021-05-01 21 days 1,909 sqft
    2021-06-01 14 days 1,878 sqft
    2021-07-01 22 days 1,914 sqft
    2021-08-01 25 days 1,859 sqft
    2021-09-01 30 days 1,833 sqft
    2021-10-01 31 days 1,846 sqft
    2021-11-01 30 days 1,788 sqft
    2021-12-01 40 days 1,724 sqft
    2022-01-01 46 days 1,780 sqft
    2022-02-01 30 days 1,812 sqft
    2022-03-01 30 days 1,776 sqft
    2022-04-01 24 days 1,828 sqft
    Fort Wayne's median listing age (time on market) for 2022-04-01 was 24 days. This is -35% shorter than the same period one year ago.

    Fort Wayne's median square footage for active listings during the 2022-04-01 period was 1,828 sqft. One year prior, the average listing was 1,837 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.