Frankfort VA Loan Rates, Closing Costs & Stats

Frankfort, 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.

Frankfort's 18 lenders originated 26 VA loans during 2023. The total origination value was $6,050,000, with an average VA loan value of $232,692.

Frankfort VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Frankfort averaged 6.83% for the week of 2024-12-06, compared to the national average (all VA variants) of 6.143% for the same period.

Frankfort's average VA mortgage closing costs are $4,702.

The average rate for the prior week (2024-11-29) was 6.53% and one month ago for the week of 2024-11-01, the average rate was 6.98%.

The average rate one year ago was 7.33%.

For refis of the same type during the week of 2024-12-06, the average rate was 5.94%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
NAVY FEDERAL CREDIT UNION 3 6.38% $5,176
FREEDOM MORTGAGE CORPORATION 2 6.13% $12,879
QUICKEN LOANS, LLC 2 7.06% $12,016
RUOFF MORTGAGE COMPANY, INC. 2 6.94% $2,086
Mortgage Research Center, LLC 2 6.50% $8,646
NEWREZ LLC 2 7.00% $3,923
Mr. Cooper ( Nationstar Mortgage ) 1 4.75% $8,396
NEW DAY FINANCIAL, LLC 1 7.63% $12,075
PENNYMAC LOAN SERVICES, LLC 1 5.25% $3,490
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $4,024
TUCKER MORTGAGE, LLC 1 7.25% $2,916
Barrington Bank & Trust Company, N.A. 1 6.25% $9,545
USAA Federal Savings Bank 1 6.25% $3,646
FAIR WAY LENDING LLC 1 7.75% $9,535
GVC MORTGAGE, INC. 1 7.13% $11,965
HALLMARK HOME MORTGAGE, LLC 1 6.63% $4,455
LAKEVIEW LOAN SERVICING, LLC 1 7.25% $10,940
MICHIGAN MUTUAL, INC. 1 7.00% $10,855

The top Frankfort VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with 3 VA loans originated. Their average total fees are $5,176, which is $7,703 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

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 $119,900 (-14.6%) $141,338 (-10.1%) 0.00 29
2020-08-01 $137,000 (0.7%) $137,629 (-16.8%) 0.00 23
2020-09-01 $119,900 (-11.7%) $135,613 (-22.3%) 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 (8.3%) $211,881 (49.9%) 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 (48.8%) 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%) $197,843 (27.9%) 0.00 24
2022-04-01 $159,900 (18.9%) $209,917 (31.4%) 0.00 25
2022-05-01 $158,675 (15.9%) $225,672 (22.1%) 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 (13.5%) 0.00 24
2023-04-01 $229,500 (43.5%) $225,167 (7.3%) 0.00 24
2023-05-01 $234,975 (48.1%) $262,508 (16.3%) 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 $232,500 (-1.1%) $240,823 (-8.3%) 0.00 32
2024-06-01 $222,500 (-16.2%) $239,332 (-13.6%) 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 43
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
Frankfort's median listing price for 2024-11-01 was $245,000, a difference of $14,608 (6.3%) versus the prior year and $8,000 versus the prior month.

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

Frankfort's average listing price for 2024-11-01 was $262,041, a difference of $8,229 (3.2%) versus the prior year and $16,716 versus the prior month.

For the 2024-11-01 period, Frankfort had 47 MLS listings, a difference of 11 listings (31%) versus the prior month and 8 listings (21%) 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 1,824 sqft
2018-10-01 0 days 1,816 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 1,978 sqft
2020-08-01 0 days 1,904 sqft
2020-09-01 0 days 1,584 sqft
2020-10-01 0 days 1,581 sqft
2020-11-01 0 days 1,657 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 1,446 sqft
2022-04-01 0 days 1,574 sqft
2022-05-01 0 days 1,607 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 1,622 sqft
2024-06-01 0 days 1,679 sqft
2024-07-01 0 days 1,685 sqft
2024-08-01 0 days 1,954 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
Frankfort's median listing age (time on market) for 2024-11-01 was 0 days.

Frankfort's median square footage for active listings during the 2024-11-01 period was 1,794 sqft. One year prior, the average listing was 1,783 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.