Indianapolis VA Loan Rates, Closing Costs & Stats

INDIANAPOLIS-CARMEL-ANDERSON, IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Indianapolis's 175 lenders originated 3,491 VA loans during 2024. The total origination value was $1,117,405,000, with an average VA loan value of $320,082.

    Indianapolis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Indianapolis averaged 0.13% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Indianapolis's average VA mortgage closing costs are $5,473.

    The average rate for the prior week (2025-06-13) was 6.97% and one month ago for the week of 2025-05-16, the average rate was 6.73%.

    The average rate one year ago was 6.83%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.2%.

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

    Indianapolis 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 Indianapolis level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 613 6.34% $5,427
    FREEDOM MORTGAGE CORPORATION 254 6.23% $7,591
    UNITED WHOLESALE MORTGAGE, LLC 251 5.85% $6,351
    QUICKEN LOANS, LLC 178 6.13% $9,628
    NEWREZ LLC 106 6.25% $7,162
    GVC MORTGAGE, INC. 95 6.47% $7,689
    PENNYMAC LOAN SERVICES, LLC 91 5.68% $6,793
    VANDERBILT MORTGAGE AND FINANCE, INC. 85 5.66% $5,145
    NEW DAY FINANCIAL, LLC 78 7.52% $10,668
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 78 6.43% $7,424
    USAA Federal Savings Bank 71 6.24% $6,415
    RUOFF MORTGAGE COMPANY, INC. 69 6.52% $5,312
    NAVY FEDERAL CREDIT UNION 65 5.88% $5,978
    MJW Financial LLC 63 6.25% $4,907
    EAGLE HOME MORTGAGE, LLC 60 5.16% $6,798
    VILLAGE CAPITAL MORTGAGE 57 5.71% $5,903
    DHI MORTGAGE COMPANY, LTD. 55 5.00% $7,502
    NVR Mortgage Finance, Inc. 52 5.88% $5,226
    CROSSCOUNTRY MORTGAGE, LLC 51 6.36% $7,014
    UNION HOME MORTGAGE CORP. 46 6.49% $8,037
    LOANDEPOT.COM, LLC 43 6.09% $9,176
    The Federal Savings Bank 41 6.40% $15,572
    M/I FINANCIAL, LLC 28 5.23% $15,654
    Mr. Cooper ( Nationstar Mortgage ) 26 6.30% $8,815
    PULTE MORTGAGE LLC 25 5.13% $7,504
    LOANPAL, LLC 23 5.79% $10,941
    GUARANTEED RATE, INC. 23 6.07% $5,054
    Magnolia Bank 22 5.88% $15,404
    HALLMARK HOME MORTGAGE, LLC 22 6.19% $7,678
    CALCON MUTUAL MORTGAGE LLC 21 6.54% $7,388
    GUILD MORTGAGE COMPANY 19 6.45% $6,085
    MILESTONE HOME LENDING, LLC 19 6.62% $8,189
    LAKEVIEW LOAN SERVICING, LLC 18 6.03% $5,748
    PLANET HOME LENDING, LLC 17 6.00% $4,872
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 17 6.70% $7,197
    JPMorgan Chase Bank 16 6.44% $4,491
    CLEARPATH LENDING 16 5.74% $9,521
    HOWARD HANNA FINANCIAL SERVICES, INC. 16 6.43% $7,237
    VICTORY MORTGAGE, L.L.C. 13 5.57% $4,542
    MUTUAL OF OMAHA MORTGAGE, INC. 13 6.09% $14,505
    Carrington Mortgage Services, LLC 13 6.02% $13,629
    Nations Lending Corporation 13 6.68% $6,622
    BROKER SOLUTIONS, INC. 13 6.51% $9,200
    NBKC BANK 12 5.97% $4,536
    First Federal Bank 12 5.70% $3,916
    Barrington Bank & Trust Company, N.A. 12 6.19% $4,932
    Fifth Third Bank 11 6.17% $5,014
    Prosperity Home Mortgage, LLC 11 6.25% $8,274
    The Huntington National Bank 10 6.69% $6,036
    AMERISAVE MORTGAGE CORPORATION 10 6.05% $16,130
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 6.81% $8,437
    CMG MORTGAGE, INC. 9 6.47% $6,885
    FIRST EQUITY MORTGAGE INCORPORATED 9 5.71% $13,111
    HOMEBRIDGE FINANCIAL SERVICES, INC. 9 6.46% $1,691
    Equity Prime Mortgage LLC 9 6.88% $7,591
    HOMESIDE FINANCIAL, LLC 9 6.69% $11,222
    South Pacific Financial Corporation 9 4.75% $7,427
    Ixonia Bank 8 6.41% $7,962
    Union Savings Bank 8 6.16% $4,567
    Wolfe Financial, Inc 8 6.97% $8,742
    First Option Mortgage, LLC 8 6.53% $7,663
    Elements Financial Federal Credit Union 7 6.32% $5,627
    PRIMELENDING, A PLAINSCAPITAL COMPANY 7 6.63% $4,353
    PLAZA HOME MORTGAGE, INC. 7 6.25% $9,543
    PENTAGON FEDERAL CREDIT UNION 6 6.27% $8,697
    Credence Funding Corporation 6 5.79% $5,541
    VERITAS FUNDING, LLC 6 6.42% $19,354
    FIRST COMMUNITY MORTGAGE, INC. 6 6.56% $6,216
    Flagstar Bank, FSB 6 6.48% $6,426
    PNC Bank 5 6.55% $3,178
    EUSTIS AND AMERICAN MORTGAGE COMPANY 5 6.90% $3,949
    MICHIGAN MUTUAL, INC. 5 6.53% $3,826
    The Loan Store, Inc. 5 6.22% $8,670
    Armed Forces Bank 5 6.13% $14,306
    AmeriHome Mortgage Company, LLC 5 6.50% $5,282
    Paramount Residential Mortgage Group, Inc. 5 6.38% $7,447
    SUN WEST MORTGAGE COMPANY, INC. 5 5.70% $8,772
    TEACHERS CREDIT UNION 5 6.32% $5,131
    FLAT BRANCH MORTGAGE, INC. 5 6.43% $6,475
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 6.93% $11,292
    Lakeview Community Capital, LLC 4 5.50% $4,160
    TJC Mortgage, Inc. 4 6.19% $11,771
    SUCCESS MORTGAGE PARTNERS, INC. 4 6.50% $15,992
    Mid-Continent Funding, Inc. 4 5.53% $5,909
    AMERICAN FINANCIAL NETWORK, INC. 4 6.91% $11,936
    First Financial Bank 4 6.97% $5,298
    Plains Commerce Bank 3 6.38% $9,750
    U.S. Bank 3 6.83% $2,726
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.38% $8,453
    Regions Bank 3 5.79% $8,709
    ROYAL UNITED MORTGAGE LLC 3 5.71% $13,797
    EVERETT FINANCIAL, INC. 3 6.54% $9,884
    STOCKTON MORTGAGE CORPORATION 3 6.71% $8,442
    KeyBank 3 5.75% $3,802
    PREMIA MORTGAGE, LLC 3 5.93% $3,474
    Texana Bank 3 6.75% $11,308
    CARDINAL FINANCIAL 3 6.04% $14,659
    Blue Ridge Bank 3 6.21% $3,411
    The State Bank and Trust Company 3 6.21% $7,610
    MOVEMENT MORTGAGE, LLC 3 6.42% $3,612
    Gateway First Bank 3 6.71% $3,121
    ZILLOW HOME LOANS, LLC 2 6.63% $13,588
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.63% $6,187
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.37% $5,656
    BAY EQUITY LLC 2 6.19% $14,899
    BELEM SERVICING LLC 2 5.25% $4,127
    Century Mortgage Company DBA Century Lending Company 2 5.56% $4,410
    ENDEAVOR CAPITAL, LLC. 2 6.69% $2,857
    GENEVA FINANCIAL, LLC 2 6.38% $12,651
    JMAC LENDING, INC. 2 5.44% $5,259
    Merchants Bank of Indiana 2 5.88% $4,042
    OCEANSIDE MORTGAGE COMPANY 2 5.75% $5,129
    Old National Bank 2 6.25% $3,588
    OPEN MORTGAGE, LLC 2 7.44% $688
    PHH Mortgage Corporation 2 6.06% $3,196
    SECURITYNATIONAL MORTGAGE COMPANY 2 6.94% $14,365
    Sunflower Bank 2 6.06% $10,904
    The Dart Bank 2 5.75% $5,379
    TOWNE MORTGAGE COMPANY 2 6.75% $5,055
    Waterstone Mortgage Corporation 2 5.50% $6,428
    1ST SIGNATURE LENDING, LLC 2 6.69% $9,413
    V.I.P. MORTGAGE, INC. 1 5.75% $3,122
    M&T Bank 1 6.25% $5,656
    MORTGAGEONE, INC. 1 7.13% $7,020
    MLB RESIDENTIAL LENDING, LLC 1 6.63% $21,263
    LOANFLIGHT LENDING, LLC 1 6.25% $3,818
    LIBERTY HOME MORTGAGE CORPORATION 1 6.50% $42,311
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.88% $5,641
    LEADERONE FINANCIAL CORPORATION 1 7.13% $1,475
    ISERVE RESIDENTIAL LENDING, LLC 1 6.75% $34,996
    GUARANTEED RATE AFFINITY, LLC 1 6.13% $2,250
    Granite Community Bank 1 6.63% $9,970
    RANLIFE, INC. 1 5.99% $21,616
    Goldwater Bank, N.A. 1 9.75% $13,915
    RELIANCE FIRST CAPITAL, LLC 1 6.25% $13,394
    Residential Mortgage Solutions, Inc. 1 6.63% $2,331
    FORUM Credit Union 1 6.13% $2,638
    First National Bank Texas 1 6.25% $4,346
    WRIGHT-PATT CREDIT UNION, INC. 1 5.75% $7,144
    Servion, Inc. 1 6.13% $2,638
    FAIR WAY LENDING LLC 1 6.75% $7,747
    SOUTHWEST FUNDING, LP 1 6.75% $8,232
    DEVELOPER'S MORTGAGE COMPANY 1 6.50% $11,193
    Citizens Bank 1 6.25% $4,971
    Wells Fargo Bank 1 7.00% $2,026
    CIBM Bank 1 6.63% $1,937
    SWBC MORTGAGE CORPORATION 1 5.75% $1,160
    T2 FINANCIAL LLC 1 6.25% $8,626
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,861
    Centier Bank 1 5.75% $492
    WINTERWOOD MORTGAGE GROUP, LLC 1 7.13% $3,984
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $4,329
    CANOPY MORTGAGE, LLC 1 7.13% $15,914
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.75% $6,365
    Bank First, N.A. 1 6.13% $2,776
    Atlantic Union Bank 1 6.75% $3,799
    TOP FLITE FINANCIAL, INC. 1 5.75% $20,480
    Advisors Mortgage Group, L.L.C. 1 7.13% $8,715
    Arvest Bank 1 5.25% $6,998
    AmRes Corporation 1 5.63% $9,464
    Ameris Bank 1 6.75% $19,694
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $3,117
    American Mortgage Bank, LLC 1 6.75% $19,551
    AMERICAN FINANCING CORPORATION 1 6.13% $8,717
    VAN DYK MORTGAGE CORPORATION 1 6.25% $3,719
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.75% $5,827
    Northpointe Bank 1 4.25% $3,080
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $6,657
    OCMBC, INC. 1 7.13% $3,200
    ALLIANT CREDIT UNION 1 5.75% $1,401
    ALKAN MORTGAGE CORPORATION 1 6.25% $3,957
    Paramount Bank 1 6.75% $5,218
    NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $8,583
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.25% $7,333
    NATIONS RELIABLE LENDING, LLC 1 6.63% $4,872

    The top Indianapolis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 613 VA loans originated. Their average total fees are $5,427, which is $2,164 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Indianapolis VA lenders (with over 10 loans originated) are First Federal Bank ($3,916), JPMorgan Chase Bank ($4,491), NBKC BANK ($4,536), VICTORY MORTGAGE, L.L.C. ($4,542) and PLANET HOME LENDING, LLC ($4,872).

    The lowest rate Indianapolis VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.00%), PULTE MORTGAGE LLC (5.13%), EAGLE HOME MORTGAGE, LLC (5.16%), M/I FINANCIAL, LLC (5.23%) and VICTORY MORTGAGE, L.L.C. (5.57%).

    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.