Fort Wayne VA Loan Rates, Closing Costs & Stats

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 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 2024-11-15, 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 (2024-11-08) was 6.77% and one month ago for the week of 2024-10-11, the average rate was 6.44%.

    The average rate one year ago was 7.53%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.36%.

    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%).

    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
    2024-02-01 $317,225 (-0.7%) $374,515 (1.6%) 0.76 483
    2024-03-01 $324,900 (-4.3%) $390,454 (-2.8%) 0.76 478
    2024-04-01 $321,925 (-6.4%) $394,466 (0.5%) 0.75 487
    2024-05-01 $339,925 (-2.3%) $417,971 (2.7%) 0.77 553
    2024-06-01 $334,900 (-4.3%) $404,124 (-1.7%) 0.75 627
    2024-07-01 $313,145 (-10.5%) $372,565 (-9.0%) 0.72 719
    2024-08-01 $314,900 (-4.4%) $367,494 (-5.7%) 0.73 742
    2024-09-01 $307,900 (-1.4%) $365,176 (-3.8%) 0.72 763
    2024-10-01 $301,175 (-0.4%) $355,184 (-4.1%) 0.71 830
    Fort Wayne's median listing price for 2024-10-01 was $301,175, a difference of $-1,275 (-0.4%) versus the prior year and $-6,725 versus the prior month.

    Fort Wayne's median listing price comes in at 71% of the national average.

    Fort Wayne's average listing price for 2024-10-01 was $355,184, a difference of $-14,980 (-4.1%) versus the prior year and $-9,992 versus the prior month.

    For the 2024-10-01 period, Fort Wayne had 830 MLS listings, a difference of 67 listings (9%) versus the prior month and 140 listings (20%) 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
    2024-02-01 47 days 1,906 sqft
    2024-03-01 38 days 1,952 sqft
    2024-04-01 39 days 1,921 sqft
    2024-05-01 28 days 1,969 sqft
    2024-06-01 33 days 1,917 sqft
    2024-07-01 37 days 1,840 sqft
    2024-08-01 38 days 1,871 sqft
    2024-09-01 39 days 1,888 sqft
    2024-10-01 37 days 1,849 sqft
    Fort Wayne's median listing age (time on market) for 2024-10-01 was 37 days. This is 0% longer than the same period one year ago.

    Fort Wayne's median square footage for active listings during the 2024-10-01 period was 1,849 sqft. One year prior, the average listing was 1,952 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.