Indianapolis VA Loan Rates, Closing Costs & Stats

INDIANAPOLIS-CARMEL-ANDERSON, 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.

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.