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 73 lenders originated 399 VA loans during 2023. The total origination value was $105,515,000, with an average VA loan value of $264,449.

Fort Wayne VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Fort Wayne averaged 0.16% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Fort Wayne's average VA mortgage closing costs are $4,927.

The average rate for the prior week (2024-06-14) was 6.87% and one month ago for the week of 2024-05-17, the average rate was 6.66%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.66%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 77 6.82% $5,572
RUOFF MORTGAGE COMPANY, INC. 36 6.85% $4,478
QUICKEN LOANS, LLC 21 6.41% $10,542
DHI MORTGAGE COMPANY, LTD. 19 5.34% $5,388
HALLMARK HOME MORTGAGE, LLC 14 6.72% $5,619
NAVY FEDERAL CREDIT UNION 12 5.75% $4,491
Nations Lending Corporation 12 7.02% $8,598
GVC MORTGAGE, INC. 12 6.88% $5,618
FREEDOM MORTGAGE CORPORATION 12 6.61% $11,191
STOCKTON MORTGAGE CORPORATION 10 6.50% $6,290
NEWREZ LLC 8 6.33% $8,085
USAA Federal Savings Bank 8 6.52% $6,192
NEW DAY FINANCIAL, LLC 7 7.46% $18,530
Barrington Bank & Trust Company, N.A. 7 6.52% $6,321
Union Savings Bank 7 6.57% $1,779
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 6 6.75% $8,174
LOANDEPOT.COM, LLC 6 6.43% $11,643
UNITED WHOLESALE MORTGAGE, LLC 6 6.23% $12,220
Fifth Third Bank 6 6.13% $5,738
TEACHERS CREDIT UNION 4 6.63% $4,047
PENNYMAC LOAN SERVICES, LLC 4 5.81% $10,636
The Federal Savings Bank 4 6.84% $11,043
VAN DYK MORTGAGE CORPORATION 4 7.34% $4,996
JPMorgan Chase Bank 4 6.81% $3,680
MOVEMENT MORTGAGE, LLC 3 7.00% $8,095
Northpointe Bank 3 6.21% $12,556
CROSSCOUNTRY MORTGAGE, LLC 3 6.23% $6,865
VILLAGE CAPITAL MORTGAGE 3 7.17% $16,643
AMERISAVE MORTGAGE CORPORATION 3 6.88% $11,180
V.I.P. MORTGAGE, INC. 3 7.21% $8,864
ACADEMY MORTGAGE CORPORATION 2 6.50% $3,361
CARDINAL FINANCIAL 2 6.00% $5,315
Citizens Bank 2 6.13% $11,905
FIRST COMMUNITY MORTGAGE, INC. 2 7.56% $7,725
First Federal Bank 2 5.63% $6,268
LOANPAL, LLC 2 5.81% $8,766
MICHIGAN MUTUAL, INC. 2 6.88% $8,017
Mr. Cooper ( Nationstar Mortgage ) 2 5.88% $13,153
NBKC BANK 2 5.81% $10,615
Old National Bank 2 5.81% $2,023
PENTAGON FEDERAL CREDIT UNION 2 6.13% $3,317
POLARIS HOME FUNDING CORP. 2 7.13% $6,798
THRIVE MORTGAGE, LLC 2 7.13% $3,146
UNION HOME MORTGAGE CORP. 2 7.25% $4,136
Wells Fargo Bank 2 5.44% $6,652
NFM, INC. 1 7.63% $14,284
North American Savings Bank, F.S.B. 1 7.13% $5,901
GUARANTEED RATE, INC. 1 5.70% $7,588
Armed Forces Bank 1 5.75% $9,712
GSF Mortgage Corporation 1 4.88% $6,311
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $3,292
PLANET HOME LENDING, LLC 1 5.25% $8,270
VERITAS FUNDING, LLC 1 6.75% $17,802
PREMIA MORTGAGE, LLC 1 5.25% $8,775
GENEVA FINANCIAL, LLC 1 7.50% $2,580
ROSS MORTGAGE CORPORATION 1 5.38% $14,282
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $12,227
Servion, Inc. 1 6.13% $2,200
SIRVA MORTGAGE, INC. 1 6.13% $16,829
Elements Financial Federal Credit Union 1 6.25% $4,939
SUN WEST MORTGAGE COMPANY, INC. 1 5.96% $2,397
Citibank 1 6.00% $7,516
BROKER SOLUTIONS, INC. 1 5.75% $5,683
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $8,706
AMERICAN FINANCING CORPORATION 1 6.25% $7,504
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $658
Blue Ridge Bank 1 6.99% $17,929
Mid-Continent Funding, Inc. 1 6.25% $1,892
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $8,622
LAKEVIEW LOAN SERVICING, LLC 1 6.13% $14,264
Bank of England 1 5.75% $12,378
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $1,458
GUILD MORTGAGE COMPANY 1 7.13% $14,846

The top Fort Wayne VA lender as defined by loan originations is Mortgage Research Center, LLC, with 77 VA loans originated. Their average total fees are $5,572, which is $1,094 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Fort Wayne VA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($4,478), NAVY FEDERAL CREDIT UNION ($4,491), DHI MORTGAGE COMPANY, LTD. ($5,388), Mortgage Research Center, LLC ($5,572) and GVC MORTGAGE, INC. ($5,618).

The lowest rate Fort Wayne VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.34%), NAVY FEDERAL CREDIT UNION (5.75%), QUICKEN LOANS, LLC (6.41%), STOCKTON MORTGAGE CORPORATION (6.50%) and FREEDOM MORTGAGE CORPORATION (6.61%).

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.