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 156 lenders originated 2,572 VA loans during 2023. The total origination value was $765,070,000, with an average VA loan value of $297,461.

Indianapolis VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Indianapolis averaged 6.97% for the week of 2024-05-10, compared to the national average (all VA variants) of 6.593% for the same period.

Indianapolis's average VA mortgage closing costs are $5,263.

The average rate for the prior week (2024-05-03) was 6.7% and one month ago for the week of 2024-04-05, the average rate was 6.4%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-05-10, the average rate was 6.87%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 451 6.76% $6,400
QUICKEN LOANS, LLC 161 6.17% $10,873
FREEDOM MORTGAGE CORPORATION 107 6.53% $14,110
GVC MORTGAGE, INC. 95 6.85% $7,345
VANDERBILT MORTGAGE AND FINANCE, INC. 82 5.67% $6,669
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 81 6.87% $7,552
UNITED WHOLESALE MORTGAGE, LLC 81 6.35% $7,938
NAVY FEDERAL CREDIT UNION 78 5.85% $5,686
NEWREZ LLC 70 6.79% $7,220
CALIBER HOME LOANS, INC. 65 6.41% $5,884
RUOFF MORTGAGE COMPANY, INC. 61 6.54% $6,155
USAA Federal Savings Bank 61 6.40% $7,435
EAGLE HOME MORTGAGE, LLC 55 5.37% $6,006
NEW DAY FINANCIAL, LLC 53 7.50% $12,101
DHI MORTGAGE COMPANY, LTD. 52 5.27% $7,290
PENNYMAC LOAN SERVICES, LLC 46 5.53% $7,025
LOANDEPOT.COM, LLC 45 6.26% $11,187
The Federal Savings Bank 43 6.45% $15,438
MJW Financial LLC 43 6.54% $6,203
CROSSCOUNTRY MORTGAGE, LLC 42 6.82% $9,375
M/I FINANCIAL, LLC 33 5.64% $13,657
NVR Mortgage Finance, Inc. 27 5.48% $9,855
HALLMARK HOME MORTGAGE, LLC 20 6.63% $8,303
PULTE MORTGAGE LLC 19 5.84% $6,007
TUCKER MORTGAGE, LLC 17 6.59% $6,765
Barrington Bank & Trust Company, N.A. 17 6.18% $10,521
UNION HOME MORTGAGE CORP. 17 7.01% $6,340
The Huntington National Bank 16 6.66% $4,979
Flagstar Bank, FSB 15 6.79% $6,484
MILESTONE HOME LENDING, LLC 15 6.84% $9,264
JPMorgan Chase Bank 15 6.26% $7,064
AMERISAVE MORTGAGE CORPORATION 14 5.90% $14,791
BROKER SOLUTIONS, INC. 14 6.75% $10,012
Wolfe Financial, Inc 14 6.98% $7,226
THRIVE MORTGAGE, LLC 13 6.92% $6,158
VILLAGE CAPITAL MORTGAGE 13 6.07% $9,476
GUARANTEED RATE, INC. 13 6.76% $6,436
Nations Lending Corporation 13 7.07% $8,851
FIRST COMMUNITY MORTGAGE, INC. 12 6.66% $8,327
LOANPAL, LLC 11 5.81% $11,819
Mr. Cooper ( Nationstar Mortgage ) 11 6.26% $12,402
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 6.88% $8,752
MUTUAL OF OMAHA MORTGAGE, INC. 10 6.20% $11,830
MORTGAGE SOLUTIONS OF COLORADO, LLC 10 7.71% $5,070
LAKEVIEW LOAN SERVICING, LLC 10 6.08% $9,908
PLANET HOME LENDING, LLC 9 5.93% $8,943
PLAZA HOME MORTGAGE, INC. 9 6.67% $8,789
Magnolia Bank 9 6.26% $19,511
Fifth Third Bank 8 6.45% $5,731
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 6.63% $10,592
VICTORY MORTGAGE, L.L.C. 7 6.07% $5,454
Sierra Pacific Mortgage Company, Inc. 7 6.63% $6,896
NBKC BANK 7 6.16% $5,697
Bank of England 7 6.77% $11,076
Paramount Residential Mortgage Group, Inc. 7 6.79% $5,568
PENTAGON FEDERAL CREDIT UNION 7 5.45% $7,273
RELIANCE FIRST CAPITAL, LLC 6 6.00% $9,511
ROYAL UNITED MORTGAGE LLC 6 7.17% $14,850
Northpointe Bank 6 6.38% $8,175
FIRST EQUITY MORTGAGE INCORPORATED 6 6.14% $14,627
ENDEAVOR CAPITAL, LLC. 6 6.69% $6,338
Prosperity Home Mortgage, LLC 5 6.00% $7,495
CARDINAL FINANCIAL 5 7.05% $6,531
Elements Financial Federal Credit Union 5 6.48% $8,454
First Option Mortgage, LLC 5 6.83% $7,329
Servion, Inc. 5 6.20% $6,669
Union Savings Bank 5 6.88% $5,700
Residential Mortgage Solutions, Inc. 4 7.09% $10,862
EUSTIS AND AMERICAN MORTGAGE COMPANY 4 7.28% $4,598
Advisors Mortgage Group, L.L.C. 4 6.97% $7,006
AMERICAN FINANCIAL NETWORK, INC. 4 6.63% $20,347
MOVEMENT MORTGAGE, LLC 4 6.75% $13,405
Old National Bank 4 6.41% $3,405
Blue Ridge Bank 4 6.38% $8,858
FORUM Credit Union 4 6.38% $7,026
Mid-Continent Funding, Inc. 4 5.65% $11,775
PNC Bank 4 6.16% $5,776
1ST SIGNATURE LENDING, LLC 3 6.13% $9,664
Century Mortgage Company DBA Century Lending Company 3 6.46% $8,987
North American Savings Bank, F.S.B. 3 5.54% $7,654
SUN WEST MORTGAGE COMPANY, INC. 3 6.75% $5,984
The Central Trust Bank 3 5.38% $7,414
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.58% $7,682
Armed Forces Bank 3 6.00% $6,098
DAS Acquisition Company, LLC 3 7.46% $3,388
GUILD MORTGAGE COMPANY 3 6.46% $9,308
Wells Fargo Bank 3 6.00% $10,983
CORNERSTONE HOME LENDING, INC. 3 7.08% $4,410
VERITAS FUNDING, LLC 2 6.75% $18,244
EVERETT FINANCIAL, INC. 2 6.69% $14,191
TEACHERS CREDIT UNION 2 6.38% $5,852
Gateway First Bank 2 5.88% $1,914
LAND HOME FINANCIAL SERVICES, INC. 2 6.75% $11,182
Citizens Bank 2 7.25% $11,849
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 7.44% $14,766
BAYSHORE MORTGAGE FUNDING, LLC 2 7.50% $13,753
TOP FLITE FINANCIAL, INC. 2 6.44% $12,834
Community First National Bank 2 5.75% $6,066
V.I.P. MORTGAGE, INC. 2 6.19% $11,655
CMG MORTGAGE, INC. 2 7.06% $8,068
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.63% $7,381
Plains Commerce Bank 2 6.44% $7,403
U.S. Bank 2 6.13% $15,724
Carrington Mortgage Services, LLC 2 5.88% $1,773
WesBanco 2 5.69% $5,578
BNC National Bank 2 5.88% $9,401
Centier Bank 2 6.56% $6,983
Regions Bank 2 6.19% $2,783
Equity Prime Mortgage LLC 2 5.81% $4,116
MICHIGAN MUTUAL, INC. 2 6.69% $4,807
Strong Home Mortgage, LLC 2 6.38% $7,557
Encompass Lending Group, LP 2 7.69% $5,603
HOMESIDE FINANCIAL, LLC 1 6.25% $15,840
KELLER MORTGAGE, LLC 1 5.75% $1,222
KeyBank 1 6.88% $4,801
Key Mortgage Services, Inc. 1 6.50% $4,102
LEADERONE FINANCIAL CORPORATION 1 6.75% $2,029
GUARANTEED RATE AFFINITY, LLC 1 6.15% $1,714
LOANFLIGHT LENDING, LLC 1 6.25% $7,536
GSF Mortgage Corporation 1 6.75% $7,817
GERSHMAN INVESTMENT CORP. 1 6.13% $1,009
MID AMERICA MORTGAGE, INC. 1 6.75% $3,412
MIDLAND MORTGAGE CORPORATION 1 7.00% $11,764
Midwest Mortgage Associates Corporation 1 6.63% $6,865
German American Bank 1 6.75% $2,563
GENEVA FINANCIAL, LLC 1 7.50% $12,725
Mortgage Assurance Inc. 1 6.25% $2,944
First Merchants Bank 1 6.75% $8,587
First Financial Bank 1 7.13% $22,186
First Federal Bank 1 6.13% $8,228
NATIONS DIRECT MORTGAGE, LLC 1 5.50% $10,393
Farmers Bank & Trust 1 5.49% $1,500
EQUITY RESOURCES, INC. 1 5.75% $5,077
Northwest Bank 1 5.50% $5,789
NP, Inc. 1 5.75% $4,575
OPEN MORTGAGE, LLC 1 7.13% $8,932
Credence Funding Corporation 1 6.00% $2,942
Cornerstone First Mortgage, Inc 1 7.00% $7,614
POLARIS HOME FUNDING CORP. 1 6.75% $7,903
Presidential Bank, FSB 1 5.75% $14,615
CHURCHILL MORTGAGE CORPORATION 1 6.99% $13,071
SIRVA MORTGAGE, INC. 1 5.88% $14,526
SOVEREIGN LENDING GROUP INCORPORATED 1 4.99% $17,976
Stifel Bank and Trust 1 6.25% $1,915
STOCKTON MORTGAGE CORPORATION 1 8.00% $7,467
SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $4,830
SWBC MORTGAGE CORPORATION 1 7.13% $26,085
BM Real Estate Services, Inc. 1 7.25% $6,752
The State Bank and Trust Company 1 6.75% $23,001
Arvest Bank 1 6.50% $10,425
Academy Bank 1 5.63% $6,873
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $7,053
American Mortgage & Equity Consultants, Inc. 1 7.62% $5,933
AMERICAN FINANCING CORPORATION 1 7.38% $15,568
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $2,355
HOMESTEAD FUNDING CORP. 1 5.75% $1,393

The top Indianapolis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 451 VA loans originated. Their average total fees are $6,400, which is $4,473 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Indianapolis VA lenders (with over 10 loans originated) are The Huntington National Bank ($4,979), MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,070), NAVY FEDERAL CREDIT UNION ($5,686), CALIBER HOME LOANS, INC. ($5,884) and EAGLE HOME MORTGAGE, LLC ($6,006).

The lowest rate Indianapolis VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.27%), EAGLE HOME MORTGAGE, LLC (5.37%), NVR Mortgage Finance, Inc. (5.48%), PENNYMAC LOAN SERVICES, LLC (5.53%) and M/I FINANCIAL, LLC (5.64%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Indianapolis (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 $229,950 (28.8%) $308,557 (16.1%) 0.85 4,676
2018-02-01 $247,450 (35.7%) $320,291 (15.8%) 0.90 4,220
2018-03-01 $259,900 (26.4%) $334,451 (13.5%) 0.91 4,142
2018-04-01 $278,450 (26.6%) $353,623 (16.6%) 0.94 4,342
2018-05-01 $284,950 (24.7%) $360,680 (15.4%) 0.95 4,761
2018-06-01 $279,900 (19.2%) $354,418 (11.2%) 0.93 5,323
2018-07-01 $272,400 (18.4%) $344,560 (9.1%) 0.91 5,891
2018-08-01 $262,412 (14.4%) $334,846 (7.3%) 0.88 6,154
2018-09-01 $254,900 (12.3%) $329,125 (6.3%) 0.86 6,416
2018-10-01 $244,500 (8.7%) $317,617 (4.1%) 0.83 6,686
2018-11-01 $239,900 (6.6%) $317,595 (3.9%) 0.81 6,402
2018-12-01 $239,900 (7.4%) $313,848 (3.8%) 0.83 5,730
2019-01-01 $242,400 (5.4%) $316,339 (2.5%) 0.84 5,183
2019-02-01 $256,695 (3.7%) $331,687 (3.6%) 0.87 4,839
2019-03-01 $268,037 (3.1%) $347,360 (3.9%) 0.88 4,749
2019-04-01 $277,450 (-0.4%) $356,448 (0.8%) 0.88 4,582
2019-05-01 $282,950 (-0.7%) $360,044 (-0.2%) 0.88 4,954
2019-06-01 $279,900 (0.0%) $354,729 (0.1%) 0.87 5,353
2019-07-01 $279,900 (2.8%) $365,360 (6.0%) 0.88 5,745
2019-08-01 $270,909 (3.2%) $351,488 (5.0%) 0.86 6,034
2019-09-01 $264,773 (3.9%) $340,668 (3.5%) 0.85 6,219
2019-10-01 $260,682 (6.6%) $333,454 (5.0%) 0.84 6,365
2019-11-01 $259,900 (8.3%) $328,517 (3.4%) 0.85 5,983
2019-12-01 $255,750 (6.6%) $326,532 (4.0%) 0.85 5,204
2020-01-01 $264,945 (9.3%) $348,053 (10.0%) 0.89 4,663
2020-02-01 $269,945 (5.2%) $339,364 (2.3%) 0.88 4,079
2020-03-01 $279,495 (4.3%) $345,547 (-0.5%) 0.88 3,854
2020-04-01 $283,835 (2.3%) $342,457 (-3.9%) 0.89 4,059
2020-05-01 $297,500 (5.1%) $361,506 (0.4%) 0.90 3,832
2020-06-01 $299,900 (7.2%) $373,903 (5.4%) 0.88 3,503
2020-07-01 $300,000 (7.2%) $379,874 (4.0%) 0.87 3,358
2020-08-01 $299,500 (10.6%) $374,075 (6.4%) 0.86 3,204
2020-09-01 $285,000 (7.6%) $366,787 (7.7%) 0.82 3,229
2020-10-01 $274,900 (5.5%) $352,050 (5.6%) 0.79 3,341
2020-11-01 $266,091 (2.4%) $341,596 (4.0%) 0.78 3,256
2020-12-01 $259,950 (1.6%) $328,514 (0.6%) 0.77 2,791
2021-01-01 $260,000 (-1.9%) $328,997 (-5.5%) 0.78 2,291
2021-02-01 $267,000 (-1.1%) $343,033 (1.1%) 0.78 1,770
2021-03-01 $271,600 (-2.8%) $353,523 (2.3%) 0.77 1,705
2021-04-01 $274,950 (-3.1%) $364,250 (6.4%) 0.74 1,689
2021-05-01 $275,000 (-7.6%) $368,545 (2.0%) 0.73 1,767
2021-06-01 $275,000 (-8.3%) $372,653 (-0.3%) 0.72 2,013
2021-07-01 $279,900 (-6.7%) $369,976 (-2.6%) 0.74 2,314
2021-08-01 $279,849 (-6.6%) $372,386 (-0.5%) 0.75 2,451
2021-09-01 $280,000 (-1.8%) $374,322 (2.1%) 0.75 2,494
2021-10-01 $275,000 (0.0%) $364,974 (3.7%) 0.73 2,509
2021-11-01 $269,950 (1.5%) $358,081 (4.8%) 0.72 2,315
2021-12-01 $277,250 (6.7%) $364,216 (10.9%) 0.75 1,962
2022-01-01 $279,000 (7.3%) $367,963 (11.8%) 0.75 1,631
2022-02-01 $292,423 (9.5%) $380,455 (10.9%) 0.76 1,382
2022-03-01 $298,950 (10.1%) $394,790 (11.7%) 0.75 1,375
2022-04-01 $299,999 (9.1%) $399,092 (9.6%) 0.72 1,446
2022-05-01 $317,749 (15.6%) $402,147 (9.1%) 0.73 1,975
2022-06-01 $319,950 (16.4%) $407,086 (9.2%) 0.71 2,447
2022-07-01 $324,967 (16.1%) $404,797 (9.4%) 0.73 3,173
2022-08-01 $312,450 (11.7%) $387,593 (4.1%) 0.72 3,405
2022-09-01 $300,000 (7.1%) $381,663 (2.0%) 0.70 3,600
2022-10-01 $299,999 (9.1%) $381,687 (4.6%) 0.71 3,810
2022-11-01 $297,000 (10.0%) $377,207 (5.3%) 0.71 3,864
2022-12-01 $294,900 (6.4%) $376,982 (3.5%) 0.73 3,487
2023-01-01 $289,750 (3.9%) $380,027 (3.3%) 0.72 2,989
2023-02-01 $302,400 (3.4%) $392,917 (3.3%) 0.73 2,572
2023-03-01 $312,675 (4.6%) $408,482 (3.5%) 0.74 2,352
2023-04-01 $329,900 (10.0%) $442,517 (10.9%) 0.77 2,343
2023-05-01 $347,000 (9.2%) $458,814 (14.1%) 0.79 2,593
2023-06-01 $349,913 (9.4%) $456,448 (12.1%) 0.79 2,894
2023-07-01 $347,250 (6.9%) $441,685 (9.1%) 0.79 3,193
2023-08-01 $337,450 (8.0%) $430,272 (11.0%) 0.77 3,415
2023-09-01 $329,900 (10.0%) $417,694 (9.4%) 0.77 3,756
2023-10-01 $319,950 (6.7%) $407,251 (6.7%) 0.75 4,153
2023-11-01 $312,500 (5.2%) $404,419 (7.2%) 0.74 4,184
2023-12-01 $304,900 (3.4%) $401,226 (6.4%) 0.74 3,733
2024-01-01 $310,097 (7.0%) $412,005 (8.4%) 0.76 3,186
2024-02-01 $318,950 (5.5%) $419,898 (6.9%) 0.77 2,889
2024-03-01 $330,000 (5.5%) $428,857 (5.0%) 0.78 2,905
2024-04-01 $339,750 (3.0%) $436,895 (-1.3%) 0.79 3,126
Indianapolis's median listing price for 2024-04-01 was $339,750, a difference of $9,850 (3.0%) versus the prior year and $9,750 versus the prior month.

Indianapolis's median listing price comes in at 79% of the national average.

Indianapolis's average listing price for 2024-04-01 was $436,895, a difference of $-5,622 (-1.3%) versus the prior year and $8,038 versus the prior month.

For the 2024-04-01 period, Indianapolis had 3,126 MLS listings, a difference of 221 listings (8%) versus the prior month and 783 listings (33%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Indianapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 77 days 2,399 sqft
2018-02-01 71 days 2,437 sqft
2018-03-01 50 days 2,520 sqft
2018-04-01 44 days 2,605 sqft
2018-05-01 37 days 2,659 sqft
2018-06-01 39 days 2,640 sqft
2018-07-01 43 days 2,574 sqft
2018-08-01 46 days 2,521 sqft
2018-09-01 50 days 2,458 sqft
2018-10-01 53 days 2,405 sqft
2018-11-01 57 days 2,365 sqft
2018-12-01 71 days 2,336 sqft
2019-01-01 78 days 2,328 sqft
2019-02-01 78 days 2,395 sqft
2019-03-01 63 days 2,451 sqft
2019-04-01 49 days 2,493 sqft
2019-05-01 43 days 2,537 sqft
2019-06-01 44 days 2,538 sqft
2019-07-01 48 days 2,532 sqft
2019-08-01 48 days 2,466 sqft
2019-09-01 51 days 2,431 sqft
2019-10-01 53 days 2,408 sqft
2019-11-01 59 days 2,374 sqft
2019-12-01 70 days 2,337 sqft
2020-01-01 80 days 2,329 sqft
2020-02-01 81 days 2,320 sqft
2020-03-01 50 days 2,345 sqft
2020-04-01 48 days 2,365 sqft
2020-05-01 54 days 2,400 sqft
2020-06-01 47 days 2,408 sqft
2020-07-01 44 days 2,419 sqft
2020-08-01 44 days 2,387 sqft
2020-09-01 42 days 2,287 sqft
2020-10-01 41 days 2,238 sqft
2020-11-01 48 days 2,153 sqft
2020-12-01 54 days 2,084 sqft
2021-01-01 58 days 2,045 sqft
2021-02-01 52 days 2,030 sqft
2021-03-01 39 days 2,063 sqft
2021-04-01 36 days 2,058 sqft
2021-05-01 34 days 2,059 sqft
2021-06-01 31 days 2,070 sqft
2021-07-01 33 days 2,118 sqft
2021-08-01 33 days 2,110 sqft
2021-09-01 36 days 2,091 sqft
2021-10-01 37 days 2,100 sqft
2021-11-01 40 days 2,074 sqft
2021-12-01 44 days 2,057 sqft
2022-01-01 48 days 2,017 sqft
2022-02-01 37 days 2,001 sqft
2022-03-01 32 days 2,040 sqft
2022-04-01 29 days 2,048 sqft
2022-05-01 25 days 2,111 sqft
2022-06-01 26 days 2,166 sqft
2022-07-01 30 days 2,176 sqft
2022-08-01 36 days 2,127 sqft
2022-09-01 39 days 2,094 sqft
2022-10-01 41 days 2,088 sqft
2022-11-01 45 days 2,088 sqft
2022-12-01 53 days 2,088 sqft
2023-01-01 61 days 2,054 sqft
2023-02-01 59 days 2,096 sqft
2023-03-01 46 days 2,105 sqft
2023-04-01 38 days 2,160 sqft
2023-05-01 36 days 2,216 sqft
2023-06-01 36 days 2,218 sqft
2023-07-01 38 days 2,231 sqft
2023-08-01 36 days 2,194 sqft
2023-09-01 39 days 2,159 sqft
2023-10-01 41 days 2,101 sqft
2023-11-01 46 days 2,069 sqft
2023-12-01 57 days 2,028 sqft
2024-01-01 67 days 2,020 sqft
2024-02-01 59 days 2,027 sqft
2024-03-01 42 days 2,064 sqft
2024-04-01 39 days 2,115 sqft
Indianapolis's median listing age (time on market) for 2024-04-01 was 39 days. This is 1% longer than the same period one year ago.

Indianapolis's median square footage for active listings during the 2024-04-01 period was 2,115 sqft. One year prior, the average listing was 2,160 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.