Kokomo VA Loan Rates, Closing Costs & Stats

KOKOMO, 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 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 41 lenders originated 158 VA loans during 2023. The total origination value was $31,780,000, with an average VA loan value of $201,139.

    Kokomo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kokomo averaged 0.56% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Kokomo's average VA mortgage closing costs are $4,087.

    The average rate for the prior week (2024-11-08) was 6.56% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.82%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.88% $4,643
    GVC MORTGAGE, INC. 11 7.03% $4,359
    PENNYMAC LOAN SERVICES, LLC 8 5.97% $4,044
    QUICKEN LOANS, LLC 8 6.34% $9,856
    USAA Federal Savings Bank 7 6.54% $4,912
    VANDERBILT MORTGAGE AND FINANCE, INC. 6 5.88% $3,999
    MOVEMENT MORTGAGE, LLC 5 6.90% $8,610
    NAVY FEDERAL CREDIT UNION 5 5.95% $2,584
    PLAZA HOME MORTGAGE, INC. 5 7.15% $4,077
    RUOFF MORTGAGE COMPANY, INC. 5 7.20% $2,100
    NEW DAY FINANCIAL, LLC 4 7.03% $9,575
    American Mortgage & Equity Consultants, Inc. 4 7.31% $4,198
    STOCKTON MORTGAGE CORPORATION 3 6.42% $7,903
    Nations Lending Corporation 3 7.04% $5,493
    Mr. Cooper ( Nationstar Mortgage ) 2 5.94% $9,987
    UNITED WHOLESALE MORTGAGE, LLC 2 5.56% $6,317
    LOANDEPOT.COM, LLC 2 6.75% $8,166
    Mid-Continent Funding, Inc. 2 7.12% $4,361
    The Federal Savings Bank 2 6.94% $6,583
    THRIVE MORTGAGE, LLC 2 7.13% $4,835
    AMERICAN FINANCING CORPORATION 1 6.63% $4,274
    VILLAGE CAPITAL MORTGAGE 1 5.75% $10,459
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $3,611
    Bank of England 1 6.75% $9,893
    Barrington Bank & Trust Company, N.A. 1 7.25% $6,660
    Credence Funding Corporation 1 5.38% $3,258
    DAS Acquisition Company, LLC 1 5.88% $1,981
    EMM LOANS LLC 1 5.88% $8,098
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $9,579
    FREEDOM MORTGAGE CORPORATION 1 6.75% $10,437
    GUARANTEED RATE, INC. 1 5.75% $0
    GUILD MORTGAGE COMPANY 1 6.63% $5,615
    JPMorgan Chase Bank 1 7.63% $484
    LEADERONE FINANCIAL CORPORATION 1 6.75% $2,784
    MJW Financial LLC 1 6.25% $7,172
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $3,010
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $4,987
    Paramount Residential Mortgage Group, Inc. 1 5.75% $4,587
    ROYAL UNITED MORTGAGE LLC 1 6.25% $11,157
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.75% $20,334
    UNION HOME MORTGAGE CORP. 1 6.63% $7,273

    The top Kokomo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $4,643, which is $284 higher than the next largest lender, GVC MORTGAGE, INC..

    The lowest fee Kokomo VA lenders (with over 10 loans originated) are GVC MORTGAGE, INC. ($4,359), Mortgage Research Center, LLC ($4,643), .

    The lowest rate Kokomo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.88%), GVC MORTGAGE, INC. (7.03%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kokomo (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 $86,225 (-4.1%) $123,621 (2.3%) 0.00 294
    2018-02-01 $82,450 (-8.3%) $119,100 (-2.4%) 0.00 281
    2018-03-01 $87,250 (-6.8%) $122,309 (-1.7%) 0.00 248
    2018-04-01 $99,450 (14.7%) $131,049 (5.7%) 0.00 228
    2018-05-01 $107,000 (15.7%) $139,446 (5.2%) 0.00 224
    2018-06-01 $122,700 (36.0%) $149,253 (15.6%) 0.00 257
    2018-07-01 $91,575 (-7.0%) $129,805 (-0.2%) 0.00 293
    2018-08-01 $94,575 (-7.9%) $133,824 (-5.1%) 0.00 298
    2018-09-01 $99,900 (0.0%) $137,825 (-7.3%) 0.00 318
    2018-10-01 $119,900 (23.2%) $139,414 (-5.5%) 0.00 367
    2018-11-01 $117,600 (23.5%) $134,671 (-7.0%) 0.00 358
    2018-12-01 $112,490 (25.1%) $130,123 (5.6%) 0.00 373
    2019-01-01 $111,343 (29.1%) $128,640 (4.1%) 0.00 345
    2019-02-01 $113,450 (37.6%) $128,220 (7.7%) 0.00 314
    2019-03-01 $115,347 (32.2%) $129,401 (5.8%) 0.00 282
    2019-04-01 $120,352 (21.0%) $137,007 (4.6%) 0.00 253
    2019-05-01 $123,490 (15.4%) $143,308 (2.8%) 0.00 239
    2019-06-01 $129,945 (5.9%) $150,283 (0.7%) 0.00 236
    2019-07-01 $135,950 (48.5%) $154,872 (19.3%) 0.00 232
    2019-08-01 $133,142 (40.8%) $153,648 (14.8%) 0.00 236
    2019-09-01 $122,937 (23.1%) $149,364 (8.4%) 0.00 245
    2019-10-01 $115,000 (-4.1%) $145,506 (4.4%) 0.00 254
    2019-11-01 $119,900 (2.0%) $144,687 (7.4%) 0.00 243
    2019-12-01 $118,720 (5.5%) $145,277 (11.7%) 0.00 228
    2020-01-01 $114,995 (3.3%) $144,092 (12.0%) 0.00 206
    2020-02-01 $115,000 (1.4%) $142,781 (11.4%) 0.00 182
    2020-03-01 $129,700 (12.4%) $146,467 (13.2%) 0.00 148
    2020-04-01 $127,400 (5.9%) $143,669 (4.9%) 0.00 149
    2020-05-01 $132,900 (7.6%) $154,586 (7.9%) 0.00 135
    2020-06-01 $117,400 (-9.7%) $146,964 (-2.2%) 0.00 125
    2020-07-01 $139,600 (2.7%) $164,046 (5.9%) 0.00 132
    2020-08-01 $149,900 (12.6%) $160,951 (4.8%) 0.00 116
    2020-09-01 $144,175 (17.3%) $167,081 (11.9%) 0.00 122
    2020-10-01 $119,900 (4.3%) $156,024 (7.2%) 0.00 125
    2020-11-01 $122,150 (1.9%) $153,141 (5.8%) 0.00 137
    2020-12-01 $122,450 (3.1%) $156,344 (7.6%) 0.00 118
    2021-01-01 $139,900 (21.7%) $164,788 (14.4%) 0.00 85
    2021-02-01 $112,450 (-2.2%) $175,060 (22.6%) 0.00 58
    2021-03-01 $130,050 (0.3%) $182,074 (24.3%) 0.00 61
    2021-04-01 $159,800 (25.4%) $193,971 (35.0%) 0.00 45
    2021-05-01 $152,950 (15.1%) $180,619 (16.8%) 0.00 49
    2021-06-01 $114,888 (-2.1%) $158,701 (8.0%) 0.00 73
    2021-07-01 $109,900 (-21.3%) $146,671 (-10.6%) 0.00 109
    2021-08-01 $116,200 (-22.5%) $162,659 (1.1%) 0.00 98
    2021-09-01 $112,500 (-22.0%) $161,699 (-3.2%) 0.00 113
    2021-10-01 $112,000 (-6.6%) $140,672 (-9.8%) 0.00 118
    2021-11-01 $127,450 (4.3%) $162,272 (6.0%) 0.00 122
    2021-12-01 $119,950 (-2.0%) $157,004 (0.4%) 0.00 115
    2022-01-01 $113,900 (-18.6%) $127,711 (-22.5%) 0.00 95
    2022-02-01 $98,675 (-12.3%) $122,511 (-30.0%) 0.00 80
    2022-03-01 $108,700 (-16.4%) $138,575 (-23.9%) 0.00 82
    2022-04-01 $109,450 (-31.5%) $139,535 (-28.1%) 0.00 67
    2022-05-01 $149,900 (-2.0%) $179,869 (-0.4%) 0.00 87
    2022-06-01 $145,500 (26.7%) $179,875 (13.3%) 0.00 102
    2022-07-01 $134,400 (22.3%) $187,031 (27.5%) 0.00 120
    2022-08-01 $130,700 (12.5%) $181,134 (11.4%) 0.00 131
    2022-09-01 $144,925 (28.8%) $185,004 (14.4%) 0.00 133
    2022-10-01 $148,000 (32.1%) $189,232 (34.5%) 0.00 145
    2022-11-01 $162,750 (27.7%) $188,662 (16.3%) 0.00 156
    2022-12-01 $164,000 (36.7%) $189,819 (20.9%) 0.00 134
    2023-01-01 $149,250 (31.0%) $180,435 (41.3%) 0.00 118
    2023-02-01 $159,900 (62.1%) $190,896 (55.8%) 0.00 81
    2023-03-01 $143,475 (32.0%) $188,015 (35.7%) 0.00 72
    2023-04-01 $147,900 (35.1%) $193,678 (38.8%) 0.00 85
    2023-05-01 $147,200 (-1.8%) $192,924 (7.3%) 0.00 95
    2023-06-01 $166,975 (14.8%) $199,105 (10.7%) 0.00 109
    2023-07-01 $166,950 (24.2%) $202,141 (8.1%) 0.00 109
    2023-08-01 $198,675 (52.0%) $222,984 (23.1%) 0.00 109
    2023-09-01 $187,250 (29.2%) $211,652 (14.4%) 0.00 118
    2023-10-01 $181,200 (22.4%) $204,825 (8.2%) 0.00 136
    2023-11-01 $192,600 (18.3%) $227,816 (20.8%) 0.00 142
    2023-12-01 $184,700 (12.6%) $221,341 (16.6%) 0.00 148
    2024-01-01 $167,425 (12.2%) $207,941 (15.2%) 0.00 131
    2024-02-01 $186,225 (16.5%) $212,717 (11.4%) 0.00 82
    2024-03-01 $212,300 (48.0%) $232,469 (23.6%) 0.00 74
    2024-04-01 $204,125 (38.0%) $228,951 (18.2%) 0.00 74
    2024-05-01 $234,725 (59.5%) $244,057 (26.5%) 0.00 85
    2024-06-01 $239,900 (43.7%) $254,589 (27.9%) 0.00 92
    2024-07-01 $223,675 (34.0%) $243,115 (20.3%) 0.00 102
    2024-08-01 $219,900 (10.7%) $250,854 (12.5%) 0.00 109
    2024-09-01 $204,950 (9.5%) $246,612 (16.5%) 0.00 143
    2024-10-01 $195,000 (7.6%) $239,183 (16.8%) 0.00 153
    Kokomo's median listing price for 2024-10-01 was $195,000, a difference of $13,800 (7.6%) versus the prior year and $-9,950 versus the prior month.

    Kokomo's median listing price comes in at 0% of the national average.

    Kokomo's average listing price for 2024-10-01 was $239,183, a difference of $34,358 (16.8%) versus the prior year and $-7,429 versus the prior month.

    For the 2024-10-01 period, Kokomo had 153 MLS listings, a difference of 10 listings (7%) versus the prior month and 17 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kokomo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,535 sqft
    2018-02-01 0 days 1,494 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 1,557 sqft
    2018-05-01 0 days 1,576 sqft
    2018-06-01 0 days 1,644 sqft
    2018-07-01 0 days 1,531 sqft
    2018-08-01 0 days 1,592 sqft
    2018-09-01 0 days 1,630 sqft
    2018-10-01 0 days 1,618 sqft
    2018-11-01 0 days 1,592 sqft
    2018-12-01 0 days 1,568 sqft
    2019-01-01 0 days 1,507 sqft
    2019-02-01 0 days 1,505 sqft
    2019-03-01 0 days 1,525 sqft
    2019-04-01 0 days 1,578 sqft
    2019-05-01 0 days 1,607 sqft
    2019-06-01 0 days 1,712 sqft
    2019-07-01 0 days 1,668 sqft
    2019-08-01 0 days 1,700 sqft
    2019-09-01 0 days 1,680 sqft
    2019-10-01 0 days 1,632 sqft
    2019-11-01 0 days 1,600 sqft
    2019-12-01 0 days 1,566 sqft
    2020-01-01 0 days 1,675 sqft
    2020-02-01 0 days 1,662 sqft
    2020-03-01 0 days 1,646 sqft
    2020-04-01 0 days 1,660 sqft
    2020-05-01 0 days 1,728 sqft
    2020-06-01 0 days 1,613 sqft
    2020-07-01 0 days 1,745 sqft
    2020-08-01 0 days 1,641 sqft
    2020-09-01 0 days 1,546 sqft
    2020-10-01 0 days 1,443 sqft
    2020-11-01 0 days 1,569 sqft
    2020-12-01 0 days 1,548 sqft
    2021-01-01 0 days 1,592 sqft
    2021-02-01 0 days 1,497 sqft
    2021-03-01 0 days 1,420 sqft
    2021-04-01 0 days 1,573 sqft
    2021-05-01 0 days 1,508 sqft
    2021-06-01 0 days 1,419 sqft
    2021-07-01 0 days 1,406 sqft
    2021-08-01 0 days 1,524 sqft
    2021-09-01 0 days 1,517 sqft
    2021-10-01 0 days 1,476 sqft
    2021-11-01 0 days 1,561 sqft
    2021-12-01 0 days 1,470 sqft
    2022-01-01 0 days 1,408 sqft
    2022-02-01 0 days 1,335 sqft
    2022-03-01 0 days 1,418 sqft
    2022-04-01 0 days 1,448 sqft
    2022-05-01 0 days 1,584 sqft
    2022-06-01 0 days 1,534 sqft
    2022-07-01 0 days 1,463 sqft
    2022-08-01 0 days 1,546 sqft
    2022-09-01 0 days 1,466 sqft
    2022-10-01 0 days 1,512 sqft
    2022-11-01 0 days 1,544 sqft
    2022-12-01 0 days 1,512 sqft
    2023-01-01 0 days 1,488 sqft
    2023-02-01 0 days 1,538 sqft
    2023-03-01 0 days 1,498 sqft
    2023-04-01 0 days 1,589 sqft
    2023-05-01 0 days 1,571 sqft
    2023-06-01 0 days 1,668 sqft
    2023-07-01 0 days 1,777 sqft
    2023-08-01 0 days 1,827 sqft
    2023-09-01 0 days 1,784 sqft
    2023-10-01 0 days 1,635 sqft
    2023-11-01 0 days 1,780 sqft
    2023-12-01 0 days 1,724 sqft
    2024-01-01 0 days 1,612 sqft
    2024-02-01 0 days 1,648 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,817 sqft
    2024-05-01 0 days 1,811 sqft
    2024-06-01 0 days 1,799 sqft
    2024-07-01 0 days 1,678 sqft
    2024-08-01 0 days 1,722 sqft
    2024-09-01 0 days 1,697 sqft
    2024-10-01 0 days 1,673 sqft
    Kokomo's median listing age (time on market) for 2024-10-01 was 0 days.

    Kokomo's median square footage for active listings during the 2024-10-01 period was 1,673 sqft. One year prior, the average listing was 1,635 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.