Gary VA Loans

GARY, 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 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.

Gary's 134 lenders originated 1,956 VA loans during 2021. The total origination value was $456,460,000, with an average VA loan value of $233,364.

Gary VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Gary averaged 4.63% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.51% and one month ago for the week of 2022-02-18, the average rate was 4.43%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.49%.

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

Gary VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Gary level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 184 2.90% $4,627
QUICKEN LOANS, LLC 175 2.47% $5,187
FREEDOM MORTGAGE CORPORATION 152 2.52% $2,855
PENNYMAC LOAN SERVICES, LLC 89 2.54% $5,786
GUARANTEED RATE, INC. 58 2.69% $5,393
NEW DAY FINANCIAL, LLC 57 2.72% $5,328
LOANDEPOT.COM, LLC 43 2.73% $4,900
VILLAGE CAPITAL & INVESTMENT LLC 40 2.35% $2,524
FIRST CENTENNIAL MORTGAGE CORPORATION 38 2.72% $5,499
NAVY FEDERAL CREDIT UNION 36 2.42% $4,647
UNION HOME MORTGAGE CORP. 35 2.73% $5,926
CLEARPATH LENDING 34 2.45% $4,607
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 32 3.17% $9,394
USAA Federal Savings Bank 31 2.96% $4,084
CALIBER HOME LOANS, INC. 30 2.58% $4,108
Mr. Cooper ( Nationstar Mortgage ) 29 2.96% $3,435
UNITED WHOLESALE MORTGAGE, LLC 28 2.60% $6,233
LAKEVIEW LOAN SERVICING, LLC 27 2.54% $2,667
Wells Fargo Bank 26 2.50% $4,356
DIRECT MORTGAGE LOANS, LLC 25 3.30% $7,227
Barrington Bank & Trust Company, N.A. 22 2.84% $4,243
CROSSCOUNTRY MORTGAGE, LLC 22 3.04% $4,908
AMERICAN FINANCIAL NETWORK, INC. 20 2.88% $8,359
The Federal Savings Bank 19 2.85% $8,344
HANCOCK MORTGAGE PARTNERS, LLC 18 3.03% $5,479
UNIVERSITY LENDING GROUP, LLC 16 2.95% $7,237
Low VA Rates, LLC 16 2.43% $4,076
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 15 2.59% $8,445
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 3.06% $7,824
NEWREZ LLC 13 2.71% $4,167
Carrington Mortgage Services, LLC 13 2.69% $4,360
HOME POINT FINANCIAL CORPORATION 13 2.72% $5,805
AMERICAN PORTFOLIO MORTGAGE CORPORATION 12 2.70% $6,579
CELEBRITY HOME LOANS, LLC 12 2.86% $5,006
InterContinental Capital Group, Inc 10 2.29% $3,665
SUN WEST MORTGAGE COMPANY, INC. 10 2.33% $2,678
LEADERONE FINANCIAL CORPORATION 9 2.94% $2,916
RUOFF MORTGAGE COMPANY, INC. 9 3.04% $4,506
AMERISAVE MORTGAGE CORPORATION 9 2.50% $8,472
Paramount Residential Mortgage Group, Inc. 9 2.82% $3,896
ACADEMY MORTGAGE CORPORATION 9 2.89% $5,720
First Guaranty Mortgage Corporation 6 2.81% $3,372
Fifth Third Bank 6 2.96% $7,296
NP, Inc. 6 2.25% $6,177
EAGLE HOME MORTGAGE, LLC 5 2.83% $1,978
BROKER SOLUTIONS, INC. 5 2.77% $4,004
First Federal Bank 5 2.70% $8,519
TOP FLITE FINANCIAL, INC. 5 3.03% $7,672
GUARANTEED RATE AFFINITY, LLC 5 2.68% $8,732
RAPID MORTGAGE COMPANY 5 3.33% $12,528
SOVEREIGN LENDING GROUP INCORPORATED 5 2.53% $3,006
Hometown Lenders, Inc. 5 3.53% $7,165
Centier Bank 5 2.63% $3,461
CANOPY MORTGAGE, LLC 5 2.72% $11,433
Plains Commerce Bank 5 2.93% $9,732
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.15% $2,389
NBKC BANK 5 2.73% $4,638
First Midwest Bank 4 2.84% $3,107
Flagstar Bank, FSB 4 2.50% $6,978
U.S. Bank 4 2.91% $3,053
Mid-Continent Funding, Inc. 4 2.66% $5,588
COMPASS MORTGAGE, INC. 4 2.65% $10,261
North American Savings Bank, F.S.B. 4 2.47% $5,164
PENTAGON FEDERAL CREDIT UNION 4 2.34% $1,248
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.75% $4,306
Bank of England 3 2.63% $6,696
BLUELEAF LENDING, LLC 3 2.79% $1,556
Citizens Bank 3 2.50% $3,832
DRAPER AND KRAMER MORTGAGE CORP. 3 2.63% $5,226
GVC MORTGAGE, INC. 3 3.04% $4,956
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.63% $7,892
LAKE MORTGAGE COMPANY INC 3 3.42% $8,118
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.29% $9,355
TEACHERS CREDIT UNION 3 2.58% $2,490
PNC Bank 2 2.63% $7,477
First Home Bank 2 2.50% $1,506
TJC Mortgage, Inc. 2 2.38% $2,111
Blue Ridge Bank 2 2.63% $2,616
First Financial Bank 2 2.69% $8,385
PANORAMA MORTGAGE GROUP, LLC 2 3.00% $8,241
PROPER RATE, LLC 2 3.13% $1,669
Nations Lending Corporation 2 2.31% $7,246
MOVEMENT MORTGAGE, LLC 2 2.25% $6,920
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.63% $6,534
ROYAL UNITED MORTGAGE LLC 2 2.88% $8,006
HOMESIDE FINANCIAL, LLC 2 2.63% $4,006
HOMESTEAD FUNDING CORP. 2 2.31% $2,833
PHH Mortgage Corporation 2 3.63% $5,020
EMM LOANS LLC 2 2.75% $6,593
PLANET HOME LENDING, LLC 2 2.56% $736
ACCELERATE MORTGAGE, LLC 2 2.25% $4,279
KS StateBank 2 2.38% $14,906
Magnolia Bank 2 3.00% $15,325
DAS Acquisition Company, LLC 1 2.88% $16,280
Community Mortgage Banc Corporation 1 3.00% $15,526
CMG MORTGAGE, INC. 1 3.00% $14,137
CIBM Bank 1 2.50% $5,093
STEARNS LENDING, LLC 1 2.50% $2,916
CASTLE & COOKE MORTGAGE, LLC 1 2.75% $310
ZILLOW HOME LOANS, LLC 1 2.38% $4,028
THE ANDERSON FINANCIAL GROUP, INC. 1 2.25% $9,217
BNC National Bank 1 2.25% $1,053
The Union Bank Company 1 3.25% $3,046
Triumph Bank 1 2.25% $5,611
Truist Bank 1 2.75% $2,018
BAY EQUITY LLC 1 2.99% $3,201
United Fidelity Funding Corp. 1 3.25% $10,131
UNITED SECURITY FINANCIAL CORP 1 2.88% $2,590
AmeriHome Mortgage Company, LLC 1 2.99% $3,379
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $14,675
AMERICAN FINANCING CORPORATION 1 2.50% $1,558
VAN DYK MORTGAGE CORPORATION 1 3.63% $13,674
Advisors Mortgage Group, L.L.C. 1 2.25% $1,334
V.I.P. MORTGAGE, INC. 1 2.38% $5,164
INSPIRE HOME LOANS INC. 1 3.25% $10,365
Key Mortgage Services, Inc. 1 3.13% $9,774
LOANPAL, LLC 1 2.25% $10,486
Horizon Bank 1 2.99% $15,697
MEMBER FIRST MORTGAGE, LLC 1 2.88% $3,402
HOMESTAR FINANCIAL CORPORATION 1 3.25% $9,307
HALLMARK HOME MORTGAGE, LLC 1 2.88% $2,819
NATIONS DIRECT MORTGAGE, LLC 1 2.50% $3,370
GUILD MORTGAGE COMPANY 1 2.75% $4,085
Goldwater Bank, N.A. 1 2.38% $4,506
Flanagan State Bank 1 2.38% $0
First Merchants Bank 1 2.63% $2,583
Paramount Bank 1 3.00% $6,768
First Federal Bank of Kansas City 1 2.25% $972
FINANCE OF AMERICA MORTGAGE LLC 1 2.50% $2,321
Equity Prime Mortgage LLC 1 2.75% $2,177
PLAZA HOME MORTGAGE, INC. 1 3.13% $849
Wyndham Capital Mortgage, Inc. 1 2.25% $10,481
Prime Choice Funding Inc. 1 2.75% $11,611
DHI MORTGAGE COMPANY, LTD. 1 3.50% $0

The top Gary VA lender as defined by loan originations is Mortgage Research Center, LLC, with 184 VA loans originated. Their average total fees are $4,627, which is $560 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Gary VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,524), LAKEVIEW LOAN SERVICING, LLC ($2,667), SUN WEST MORTGAGE COMPANY, INC. ($2,678), FREEDOM MORTGAGE CORPORATION ($2,855) and Mr. Cooper ( Nationstar Mortgage ) ($3,435).

The lowest rate Gary VA lenders (with over 10 loans originated) are InterContinental Capital Group, Inc (2.29%), SUN WEST MORTGAGE COMPANY, INC. (2.33%), VILLAGE CAPITAL & INVESTMENT LLC (2.35%), NAVY FEDERAL CREDIT UNION (2.42%) and Low VA Rates, LLC (2.43%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gary (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 $288,950 (6.8%) $452,003 (5.0%) 1.06 27,410
2018-02-01 $304,500 (6.5%) $470,283 (4.1%) 1.10 27,874
2018-03-01 $325,000 (8.5%) $489,585 (5.5%) 1.12 29,483
2018-04-01 $335,000 (8.1%) $494,077 (4.4%) 1.12 31,497
2018-05-01 $336,250 (5.2%) $491,926 (3.4%) 1.12 33,604
2018-06-01 $334,900 (4.7%) $483,070 (2.0%) 1.12 36,277
2018-07-01 $327,250 (3.9%) $472,829 (1.4%) 1.09 38,396
2018-08-01 $319,950 (4.9%) $460,744 (1.1%) 1.07 39,499
2018-09-01 $317,900 (6.0%) $454,842 (0.4%) 1.06 40,189
2018-10-01 $312,000 (4.0%) $449,152 (-0.7%) 1.04 39,937
2018-11-01 $302,000 (1.7%) $446,276 (-0.6%) 1.01 37,571
2018-12-01 $297,000 (2.8%) $437,462 (-1.2%) 1.02 32,888
2019-01-01 $297,788 (3.1%) $442,555 (-2.1%) 1.03 30,040
2019-02-01 $312,400 (2.6%) $462,775 (-1.6%) 1.05 30,361
2019-03-01 $327,957 (0.9%) $476,932 (-2.6%) 1.07 32,150
2019-04-01 $339,900 (1.5%) $485,549 (-1.7%) 1.07 34,125
2019-05-01 $339,900 (1.1%) $482,555 (-1.9%) 1.05 36,370
2019-06-01 $339,000 (1.2%) $477,893 (-1.1%) 1.04 38,444
2019-07-01 $332,450 (1.6%) $470,215 (-0.6%) 1.03 39,922
2019-08-01 $326,315 (2.0%) $460,792 (0.0%) 1.03 40,311
2019-09-01 $320,718 (0.9%) $453,105 (-0.4%) 1.02 40,478
2019-10-01 $319,000 (2.2%) $454,656 (1.2%) 1.02 40,147
2019-11-01 $309,900 (2.6%) $448,844 (0.6%) 1.00 36,884
2019-12-01 $299,900 (1.0%) $444,177 (1.5%) 1.00 31,631
2020-01-01 $299,900 (0.7%) $445,683 (0.7%) 1.00 28,727
2020-02-01 $319,900 (2.4%) $466,900 (0.9%) 1.03 29,189
2020-03-01 $328,950 (0.3%) $475,504 (-0.3%) 1.03 29,677
2020-04-01 $324,950 (-4.4%) $464,610 (-4.3%) 1.01 28,345
2020-05-01 $329,900 (-2.9%) $477,698 (-1.0%) 1.00 28,171
2020-06-01 $339,900 (0.3%) $490,505 (2.6%) 0.99 28,064
2020-07-01 $348,450 (4.8%) $499,130 (6.2%) 1.00 27,100
2020-08-01 $349,000 (7.0%) $501,220 (8.8%) 1.00 26,680
2020-09-01 $349,450 (9.0%) $504,956 (11.4%) 1.00 26,967
2020-10-01 $344,900 (8.1%) $500,068 (10.0%) 0.99 27,016
2020-11-01 $335,400 (8.2%) $496,618 (10.6%) 0.96 24,642
2020-12-01 $326,340 (8.8%) $493,986 (11.2%) 0.96 20,938
2021-01-01 $329,500 (9.9%) $505,908 (13.5%) 0.97 17,962
2021-02-01 $342,995 (7.2%) $545,150 (16.8%) 0.99 15,887
2021-03-01 $349,900 (6.4%) $552,641 (16.2%) 0.98 15,400
2021-04-01 $350,000 (7.7%) $553,431 (19.1%) 0.94 16,064
2021-05-01 $355,000 (7.6%) $551,761 (15.5%) 0.93 16,868
2021-06-01 $355,000 (4.4%) $538,278 (9.7%) 0.92 19,112
2021-07-01 $349,900 (0.4%) $521,444 (4.5%) 0.91 21,041
2021-08-01 $341,214 (-2.2%) $499,769 (-0.3%) 0.90 22,155
2021-09-01 $332,450 (-4.9%) $490,671 (-2.8%) 0.87 22,176
2021-10-01 $329,900 (-4.4%) $487,370 (-2.5%) 0.87 21,533
2021-11-01 $322,445 (-3.9%) $484,174 (-2.5%) 0.85 18,752
2021-12-01 $312,500 (-4.2%) $478,375 (-3.2%) 0.83 15,437
2022-01-01 $314,900 (-4.4%) $494,700 (-2.2%) 0.84 12,585
Gary's median listing price for 2022-01-01 was $314,900, a difference of $-14,600 (-4.4%) versus the prior year and $2,400 versus the prior month.

Gary's median listing price comes in at 84% of the national average.

Gary's average listing price for 2022-01-01 was $494,700, a difference of $-11,208 (-2.2%) versus the prior year and $16,325 versus the prior month.

For the 2022-01-01 period, Gary had 12,585 MLS listings, a difference of -2,852 listings (-18%) versus the prior month and -5,377 listings (-30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gary (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 75 days 1,918 sqft
2018-02-01 56 days 1,980 sqft
2018-03-01 43 days 2,008 sqft
2018-04-01 41 days 2,044 sqft
2018-05-01 41 days 2,048 sqft
2018-06-01 42 days 2,039 sqft
2018-07-01 44 days 2,007 sqft
2018-08-01 47 days 2,000 sqft
2018-09-01 49 days 1,988 sqft
2018-10-01 51 days 1,948 sqft
2018-11-01 56 days 1,922 sqft
2018-12-01 68 days 1,880 sqft
2019-01-01 73 days 1,880 sqft
2019-02-01 56 days 1,921 sqft
2019-03-01 43 days 1,974 sqft
2019-04-01 39 days 2,003 sqft
2019-05-01 41 days 2,022 sqft
2019-06-01 43 days 2,015 sqft
2019-07-01 44 days 2,001 sqft
2019-08-01 47 days 1,981 sqft
2019-09-01 49 days 1,949 sqft
2019-10-01 49 days 1,952 sqft
2019-11-01 56 days 1,922 sqft
2019-12-01 68 days 1,900 sqft
2020-01-01 73 days 1,887 sqft
2020-02-01 45 days 1,938 sqft
2020-03-01 43 days 1,981 sqft
2020-04-01 52 days 1,952 sqft
2020-05-01 60 days 1,985 sqft
2020-06-01 46 days 1,971 sqft
2020-07-01 42 days 1,936 sqft
2020-08-01 42 days 1,900 sqft
2020-09-01 42 days 1,833 sqft
2020-10-01 43 days 1,800 sqft
2020-11-01 50 days 1,753 sqft
2020-12-01 59 days 1,718 sqft
2021-01-01 64 days 1,700 sqft
2021-02-01 47 days 1,698 sqft
2021-03-01 43 days 1,694 sqft
2021-04-01 36 days 1,700 sqft
2021-05-01 36 days 1,726 sqft
2021-06-01 33 days 1,748 sqft
2021-07-01 36 days 1,745 sqft
2021-08-01 36 days 1,717 sqft
2021-09-01 38 days 1,700 sqft
2021-10-01 41 days 1,680 sqft
2021-11-01 45 days 1,649 sqft
2021-12-01 54 days 1,615 sqft
2022-01-01 60 days 1,600 sqft
Gary's median listing age (time on market) for 2022-01-01 was 60 days. This is -6% shorter than the same period one year ago.

Gary's median square footage for active listings during the 2022-01-01 period was 1,600 sqft. One year prior, the average listing was 1,700 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.