Fort Wayne VA Loans

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 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.