Gary VA Loans

GARY, 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 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.