Frankfort VA Loan Rates, Closing Costs & Stats

Frankfort, 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.

    Frankfort's 19 lenders originated 38 VA loans during 2024. The total origination value was $8,950,000, with an average VA loan value of $235,526.

    Frankfort VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Frankfort averaged 7.1% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    Frankfort's average VA mortgage closing costs are $4,869.

    The average rate for the prior week (2025-05-16) was 6.99% and one month ago for the week of 2025-04-18, the average rate was 6.96%.

    The average rate one year ago was 6.98%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.72%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Frankfort 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 Frankfort level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 9 6.72% $5,550
    QUICKEN LOANS, LLC 3 6.29% $10,463
    RUOFF MORTGAGE COMPANY, INC. 3 6.21% $7,080
    Prosperity Home Mortgage, LLC 2 6.56% $3,254
    UNITED WHOLESALE MORTGAGE, LLC 2 6.25% $6,597
    FREEDOM MORTGAGE CORPORATION 2 6.63% $1,744
    Nations Lending Corporation 1 7.75% $8,649
    NAVY FEDERAL CREDIT UNION 1 5.38% $980
    NEWREZ LLC 1 6.25% $3,387
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $6,087
    PHH Mortgage Corporation 1 6.13% $8,240
    Regions Bank 1 6.25% $2,802
    Armed Forces Bank 1 6.50% $7,257
    USAA Federal Savings Bank 1 6.50% $1,750
    Carrington Mortgage Services, LLC 1 6.13% $8,677
    CLEARPATH LENDING 1 5.75% $2,557
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $6,093
    LOANDEPOT.COM, LLC 1 5.99% $5,282
    MLD MORTGAGE INC. 1 6.50% $1,645

    The top Frankfort VA lender as defined by loan originations is Mortgage Research Center, LLC, with 9 VA loans originated. Their average total fees are $5,550, which is $4,913 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Frankfort VA lenders (with over 10 loans originated) are .

    The lowest rate Frankfort VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Frankfort (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 $75,725 (13.2%) $108,400 (13.7%) 0.00 66
    2018-02-01 $75,725 (8.3%) $107,483 (12.7%) 0.00 58
    2018-03-01 $76,000 (1.2%) $114,098 (14.7%) 0.00 53
    2018-04-01 $100,500 (27.2%) $145,837 (32.5%) 0.00 59
    2018-05-01 $97,475 (20.8%) $143,756 (31.0%) 0.00 56
    2018-06-01 $109,900 (27.6%) $145,107 (34.3%) 0.00 59
    2018-07-01 $111,225 (34.2%) $140,821 (22.2%) 0.00 77
    2018-08-01 $121,150 (39.9%) $145,430 (21.5%) 0.00 84
    2018-09-01 $117,450 (38.2%) $146,619 (18.1%) 0.00 68
    2018-10-01 $106,975 (33.8%) $146,521 (25.1%) 0.00 73
    2018-11-01 $132,450 (67.5%) $157,641 (34.9%) 0.00 72
    2018-12-01 $134,950 (71.9%) $152,286 (33.2%) 0.00 70
    2019-01-01 $138,500 (82.9%) $150,714 (39.0%) 0.00 69
    2019-02-01 $134,900 (78.1%) $153,561 (42.9%) 0.00 63
    2019-03-01 $138,043 (81.6%) $158,108 (38.6%) 0.00 53
    2019-04-01 $139,018 (38.3%) $156,875 (7.6%) 0.00 47
    2019-05-01 $138,800 (42.4%) $160,629 (11.7%) 0.00 51
    2019-06-01 $138,772 (26.3%) $150,715 (3.9%) 0.00 52
    2019-07-01 $140,361 (26.2%) $157,178 (11.6%) 0.00 52
    2019-08-01 $135,988 (12.3%) $165,468 (13.8%) 0.00 54
    2019-09-01 $135,714 (15.6%) $174,450 (19.0%) 0.00 58
    2019-10-01 $134,650 (25.9%) $176,521 (20.5%) 0.00 63
    2019-11-01 $129,450 (-2.3%) $165,471 (5.0%) 0.00 54
    2019-12-01 $107,975 (-20.0%) $162,319 (6.6%) 0.00 51
    2020-01-01 $104,850 (-24.3%) $155,750 (3.3%) 0.00 51
    2020-02-01 $94,500 (-30.0%) $150,596 (-1.9%) 0.00 44
    2020-03-01 $82,575 (-40.2%) $141,127 (-10.7%) 0.00 36
    2020-04-01 $90,750 (-34.7%) $146,484 (-6.6%) 0.00 36
    2020-05-01 $115,000 (-17.2%) $151,290 (-5.8%) 0.00 36
    2020-06-01 $119,950 (-13.6%) $163,642 (8.6%) 0.00 38
    2020-07-01 $119,675 (-14.7%) $139,776 (-11.1%) 0.00 29
    2020-08-01 $137,000 (0.7%) $137,629 (-16.8%) 0.00 23
    2020-09-01 $119,900 (-11.7%) $130,532 (-25.2%) 0.00 28
    2020-10-01 $110,450 (-18.0%) $124,323 (-29.6%) 0.00 33
    2020-11-01 $118,900 (-8.2%) $130,819 (-20.9%) 0.00 29
    2020-12-01 $117,450 (8.8%) $125,242 (-22.8%) 0.00 30
    2021-01-01 $129,950 (23.9%) $128,971 (-17.2%) 0.00 27
    2021-02-01 $137,500 (45.5%) $145,584 (-3.3%) 0.00 21
    2021-03-01 $141,200 (71.0%) $154,716 (9.6%) 0.00 14
    2021-04-01 $134,500 (48.2%) $159,747 (9.1%) 0.00 24
    2021-05-01 $136,950 (19.1%) $184,765 (22.1%) 0.00 15
    2021-06-01 $136,950 (14.2%) $198,667 (21.4%) 0.00 17
    2021-07-01 $129,900 (8.5%) $211,881 (51.6%) 0.00 21
    2021-08-01 $171,225 (25.0%) $213,718 (55.3%) 0.00 27
    2021-09-01 $172,450 (43.8%) $201,717 (54.5%) 0.00 35
    2021-10-01 $165,000 (49.4%) $184,151 (48.1%) 0.00 38
    2021-11-01 $170,925 (43.8%) $216,908 (65.8%) 0.00 34
    2021-12-01 $148,925 (26.8%) $203,365 (62.4%) 0.00 36
    2022-01-01 $141,000 (8.5%) $217,751 (68.8%) 0.00 24
    2022-02-01 $141,875 (3.2%) $210,247 (44.4%) 0.00 23
    2022-03-01 $143,125 (1.4%) $197,356 (27.6%) 0.00 24
    2022-04-01 $153,200 (13.9%) $209,192 (31.0%) 0.00 24
    2022-05-01 $158,675 (15.9%) $225,218 (21.9%) 0.00 31
    2022-06-01 $161,225 (17.7%) $225,680 (13.6%) 0.00 37
    2022-07-01 $169,900 (30.8%) $230,602 (8.8%) 0.00 40
    2022-08-01 $175,725 (2.6%) $219,785 (2.8%) 0.00 41
    2022-09-01 $179,075 (3.8%) $218,968 (8.6%) 0.00 33
    2022-10-01 $165,000 (0.0%) $192,812 (4.7%) 0.00 35
    2022-11-01 $177,475 (3.8%) $200,666 (-7.5%) 0.00 34
    2022-12-01 $184,900 (24.2%) $204,916 (0.8%) 0.00 33
    2023-01-01 $174,450 (23.7%) $195,825 (-10.1%) 0.00 29
    2023-02-01 $167,000 (17.7%) $195,767 (-6.9%) 0.00 28
    2023-03-01 $204,500 (42.9%) $224,538 (13.8%) 0.00 24
    2023-04-01 $229,500 (49.8%) $225,167 (7.6%) 0.00 24
    2023-05-01 $234,975 (48.1%) $262,508 (16.6%) 0.00 24
    2023-06-01 $265,500 (64.7%) $277,025 (22.8%) 0.00 25
    2023-07-01 $259,000 (52.4%) $287,096 (24.5%) 0.00 27
    2023-08-01 $219,325 (24.8%) $271,360 (23.5%) 0.00 31
    2023-09-01 $239,700 (33.9%) $267,793 (22.3%) 0.00 31
    2023-10-01 $244,450 (48.2%) $265,830 (37.9%) 0.00 38
    2023-11-01 $230,392 (29.8%) $253,812 (26.5%) 0.00 39
    2023-12-01 $228,233 (23.4%) $252,687 (23.3%) 0.00 31
    2024-01-01 $222,500 (27.5%) $257,857 (31.7%) 0.00 26
    2024-02-01 $248,750 (49.0%) $257,963 (31.8%) 0.00 23
    2024-03-01 $265,000 (29.6%) $275,840 (22.9%) 0.00 26
    2024-04-01 $247,000 (7.6%) $255,274 (13.4%) 0.00 30
    2024-05-01 $226,250 (-3.7%) $240,823 (-8.3%) 0.00 32
    2024-06-01 $222,450 (-16.2%) $237,121 (-14.4%) 0.00 47
    2024-07-01 $212,500 (-18.0%) $240,254 (-16.3%) 0.00 45
    2024-08-01 $242,500 (10.6%) $258,498 (-4.7%) 0.00 42
    2024-09-01 $247,500 (3.3%) $268,783 (0.4%) 0.00 39
    2024-10-01 $237,000 (-3.1%) $245,325 (-7.7%) 0.00 36
    2024-11-01 $245,000 (6.3%) $262,041 (3.2%) 0.00 47
    2024-12-01 $241,225 (5.7%) $262,628 (3.9%) 0.00 41
    2025-01-01 $249,750 (12.3%) $261,927 (1.6%) 0.00 35
    2025-02-01 $224,250 (-9.9%) $243,422 (-5.6%) 0.00 25
    2025-03-01 $224,950 (-15.1%) $247,232 (-10.4%) 0.00 25
    2025-04-01 $235,625 (-4.6%) $246,742 (-3.3%) 0.00 25
    Frankfort's median listing price for 2025-04-01 was $235,625, a difference of $-11,375 (-4.6%) versus the prior year and $10,675 versus the prior month.

    Frankfort's median listing price comes in at 0% of the national average.

    Frankfort's average listing price for 2025-04-01 was $246,742, a difference of $-8,532 (-3.3%) versus the prior year and $-490 versus the prior month.

    For the 2025-04-01 period, Frankfort had 25 MLS listings, a difference of 0 listings (0%) versus the prior month and -5 listings (-17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Frankfort (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,526 sqft
    2018-02-01 0 days 1,533 sqft
    2018-03-01 0 days 1,543 sqft
    2018-04-01 0 days 1,829 sqft
    2018-05-01 0 days 1,823 sqft
    2018-06-01 0 days 1,693 sqft
    2018-07-01 0 days 1,530 sqft
    2018-08-01 0 days 1,777 sqft
    2018-09-01 0 days 1,827 sqft
    2018-10-01 0 days 1,818 sqft
    2018-11-01 0 days 1,908 sqft
    2018-12-01 0 days 1,954 sqft
    2019-01-01 0 days 1,968 sqft
    2019-02-01 0 days 1,935 sqft
    2019-03-01 0 days 1,912 sqft
    2019-04-01 0 days 1,850 sqft
    2019-05-01 0 days 2,010 sqft
    2019-06-01 0 days 1,792 sqft
    2019-07-01 0 days 1,736 sqft
    2019-08-01 0 days 1,714 sqft
    2019-09-01 0 days 1,733 sqft
    2019-10-01 0 days 1,748 sqft
    2019-11-01 0 days 1,729 sqft
    2019-12-01 0 days 1,699 sqft
    2020-01-01 0 days 1,648 sqft
    2020-02-01 0 days 1,722 sqft
    2020-03-01 0 days 1,736 sqft
    2020-04-01 0 days 1,770 sqft
    2020-05-01 0 days 1,807 sqft
    2020-06-01 0 days 2,064 sqft
    2020-07-01 0 days 1,887 sqft
    2020-08-01 0 days 1,904 sqft
    2020-09-01 0 days 1,568 sqft
    2020-10-01 0 days 1,581 sqft
    2020-11-01 0 days 1,656 sqft
    2020-12-01 0 days 1,668 sqft
    2021-01-01 0 days 1,656 sqft
    2021-02-01 0 days 1,969 sqft
    2021-03-01 0 days 1,820 sqft
    2021-04-01 0 days 1,798 sqft
    2021-05-01 0 days 1,750 sqft
    2021-06-01 0 days 1,590 sqft
    2021-07-01 0 days 1,640 sqft
    2021-08-01 0 days 1,748 sqft
    2021-09-01 0 days 1,826 sqft
    2021-10-01 0 days 1,622 sqft
    2021-11-01 0 days 1,656 sqft
    2021-12-01 0 days 1,622 sqft
    2022-01-01 0 days 1,715 sqft
    2022-02-01 0 days 1,499 sqft
    2022-03-01 0 days 1,430 sqft
    2022-04-01 0 days 1,536 sqft
    2022-05-01 0 days 1,600 sqft
    2022-06-01 0 days 1,625 sqft
    2022-07-01 0 days 1,820 sqft
    2022-08-01 0 days 1,696 sqft
    2022-09-01 0 days 1,652 sqft
    2022-10-01 0 days 1,646 sqft
    2022-11-01 0 days 1,726 sqft
    2022-12-01 0 days 1,714 sqft
    2023-01-01 0 days 1,691 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,712 sqft
    2023-04-01 0 days 1,691 sqft
    2023-05-01 0 days 1,796 sqft
    2023-06-01 0 days 1,806 sqft
    2023-07-01 0 days 1,824 sqft
    2023-08-01 0 days 1,829 sqft
    2023-09-01 0 days 1,795 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,783 sqft
    2023-12-01 0 days 1,749 sqft
    2024-01-01 0 days 1,751 sqft
    2024-02-01 0 days 1,771 sqft
    2024-03-01 0 days 1,772 sqft
    2024-04-01 0 days 1,636 sqft
    2024-05-01 0 days 1,600 sqft
    2024-06-01 0 days 1,679 sqft
    2024-07-01 0 days 1,685 sqft
    2024-08-01 0 days 1,911 sqft
    2024-09-01 0 days 2,019 sqft
    2024-10-01 0 days 1,824 sqft
    2024-11-01 0 days 1,794 sqft
    2024-12-01 0 days 1,800 sqft
    2025-01-01 0 days 1,809 sqft
    2025-02-01 0 days 1,715 sqft
    2025-03-01 0 days 1,751 sqft
    2025-04-01 0 days 1,831 sqft
    Frankfort's median listing age (time on market) for 2025-04-01 was 0 days.

    Frankfort's median square footage for active listings during the 2025-04-01 period was 1,831 sqft. One year prior, the average listing was 1,636 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.