Kokomo VA Loan Rates, Closing Costs & Stats

KOKOMO, 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.

Kokomo's 42 lenders originated 173 VA loans during 2024. The total origination value was $40,125,000, with an average VA loan value of $231,936.

Kokomo VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Kokomo averaged 0.74% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

Kokomo's average VA mortgage closing costs are $4,332.

The average rate for the prior week (2025-06-27) was 6.87% and one month ago for the week of 2025-05-30, the average rate was 7.1%.

The average rate one year ago was 6.91%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.05%.

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

Kokomo 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 Kokomo level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 35 6.51% $4,362
FREEDOM MORTGAGE CORPORATION 14 6.36% $5,755
VANDERBILT MORTGAGE AND FINANCE, INC. 12 5.30% $4,511
QUICKEN LOANS, LLC 12 6.27% $8,690
PENNYMAC LOAN SERVICES, LLC 9 5.93% $5,107
GVC MORTGAGE, INC. 9 6.94% $5,673
RUOFF MORTGAGE COMPANY, INC. 6 6.94% $3,194
UNITED WHOLESALE MORTGAGE, LLC 6 5.90% $13,835
PLAZA HOME MORTGAGE, INC. 6 6.92% $6,662
NEW DAY FINANCIAL, LLC 4 7.52% $6,855
USAA Federal Savings Bank 4 6.25% $7,400
MJW Financial LLC 3 5.92% $4,487
NEWREZ LLC 3 6.58% $4,130
American Mortgage & Equity Consultants, Inc. 3 6.92% $9,797
UNION HOME MORTGAGE CORP. 3 6.50% $3,409
VILLAGE CAPITAL MORTGAGE 3 5.50% $7,678
The Federal Savings Bank 2 6.25% $17,975
NAVY FEDERAL CREDIT UNION 2 6.19% $1,539
LOANPAL, LLC 2 5.50% $17,160
LOANDEPOT.COM, LLC 2 5.99% $10,958
MOVEMENT MORTGAGE, LLC 2 6.88% $6,500
Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $11,366
Nations Lending Corporation 1 6.25% $3,415
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $3,648
Barrington Bank & Trust Company, N.A. 1 7.25% $6,084
CALCON MUTUAL MORTGAGE LLC 1 6.63% $7,085
Carrington Mortgage Services, LLC 1 6.25% $5,020
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $6,325
EVERETT FINANCIAL, INC. 1 5.50% $5,702
First Federal Bank 1 5.63% $1,837
FLAT BRANCH MORTGAGE, INC. 1 6.25% $6,559
GUILD MORTGAGE COMPANY 1 6.75% $3,775
JPMorgan Chase Bank 1 6.13% $3,088
MILEND, INC. 1 6.13% $8,133
AMERICAN FINANCING CORPORATION 1 6.25% $5,775
NBKC BANK 1 5.63% $1,822
PENTAGON FEDERAL CREDIT UNION 1 6.75% $10,387
PLANET HOME LENDING, LLC 1 4.13% $2,674
PNC Bank 1 6.50% $6,514
STOCKTON MORTGAGE CORPORATION 1 6.75% $8,589
The Huntington National Bank 1 7.75% $1,342
TJC Mortgage, Inc. 1 5.88% $17,490

The top Kokomo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 35 VA loans originated. Their average total fees are $4,362, which is $1,393 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Kokomo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,362), VANDERBILT MORTGAGE AND FINANCE, INC. ($4,511), FREEDOM MORTGAGE CORPORATION ($5,755), QUICKEN LOANS, LLC ($8,690) and .

The lowest rate Kokomo VA lenders (with over 10 loans originated) are VANDERBILT MORTGAGE AND FINANCE, INC. (5.30%), QUICKEN LOANS, LLC (6.27%), FREEDOM MORTGAGE CORPORATION (6.36%), Mortgage Research Center, LLC (6.51%) and .

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.