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
6.42%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Fort Wayne's average VA mortgage closing costs are $4,927.
The average rate for the prior week (2024-10-04) was
5.79% and
one month ago for the week of 2024-09-06, the
average rate was 6.28%.
The average rate one year ago was 7.64%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.31%.
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.