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 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.