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 43 lenders originated 174 VA loans during 2022. The total origination value was $34,700,000, with an average VA loan value of $199,425.

Kokomo VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Kokomo averaged 0.29% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Kokomo's average VA mortgage closing costs are $3,906.

The average rate for the prior week (2024-02-16) was 6.66% and one month ago for the week of 2024-01-19, the average rate was 6.32%.

The average rate one year ago was 6.33%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.01%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 31 5.61% $4,910
GVC MORTGAGE, INC. 14 4.87% $6,639
QUICKEN LOANS, LLC 12 4.56% $6,979
VANDERBILT MORTGAGE AND FINANCE, INC. 11 4.69% $5,415
PLAZA HOME MORTGAGE, INC. 9 4.60% $6,661
USAA Federal Savings Bank 8 4.92% $3,403
PENNYMAC LOAN SERVICES, LLC 8 4.22% $9,134
RUOFF MORTGAGE COMPANY, INC. 7 5.34% $6,217
FREEDOM MORTGAGE CORPORATION 6 4.81% $6,877
LEADERONE FINANCIAL CORPORATION 6 4.38% $6,852
STOCKTON MORTGAGE CORPORATION 5 4.73% $7,808
NEW DAY FINANCIAL, LLC 5 5.82% $7,805
NAVY FEDERAL CREDIT UNION 4 4.25% $3,122
FLAT BRANCH MORTGAGE, INC. 3 4.25% $1,916
UNITED WHOLESALE MORTGAGE, LLC 3 4.04% $2,090
AMERISAVE MORTGAGE CORPORATION 3 3.79% $7,432
The Federal Savings Bank 2 6.00% $11,262
CALIBER HOME LOANS, INC. 2 5.31% $9,665
Nations Lending Corporation 2 7.25% $8,950
GUARANTEED RATE, INC. 2 5.00% $1,152
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.50% $3,662
NEWREZ LLC 2 5.44% $4,065
MJW Financial LLC 1 5.75% $1,488
AMERIFIRST FINANCIAL CORPORATION 1 6.75% $4,909
Atlantic Union Bank 1 5.50% $8,207
Bank of England 1 5.25% $18,125
Barrington Bank & Trust Company, N.A. 1 4.50% $6,449
DIRECT MORTGAGE LOANS, LLC 1 3.50% $4,562
EMM LOANS LLC 1 4.25% $8,401
Gateway First Bank 1 5.63% $3,217
GENEVA FINANCIAL, LLC 1 7.25% $6,145
Key Mortgage Services, Inc. 1 5.25% $3,844
LOANDEPOT.COM, LLC 1 3.75% $3,238
LOANPAL, LLC 1 3.63% $4,391
Low VA Rates, LLC 1 4.25% $1,897
1ST SIGNATURE LENDING, LLC 1 3.75% $3,600
Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $5,710
Notre Dame Federal Credit Union Corporation 1 4.13% $6,463
PENTAGON FEDERAL CREDIT UNION 1 5.63% $1,919
PLANET HOME LENDING, LLC 1 2.75% $1,740
PNC Bank 1 3.88% $1,792
ROYAL UNITED MORTGAGE LLC 1 4.25% $4,825
VILLAGE CAPITAL MORTGAGE 1 2.75% $3,376

The top Kokomo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 31 VA loans originated. Their average total fees are $4,910, which is $1,729 lower than the next largest lender, GVC MORTGAGE, INC..

The lowest fee Kokomo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,910), VANDERBILT MORTGAGE AND FINANCE, INC. ($5,415), GVC MORTGAGE, INC. ($6,639), QUICKEN LOANS, LLC ($6,979) and .

The lowest rate Kokomo VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.56%), VANDERBILT MORTGAGE AND FINANCE, INC. (4.69%), GVC MORTGAGE, INC. (4.87%), Mortgage Research Center, LLC (5.61%) and .


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 $85,575 (-4.8%) $123,417 (2.4%) 0.00 293
2018-02-01 $81,825 (-8.2%) $118,875 (-2.2%) 0.00 280
2018-03-01 $87,000 (-3.8%) $122,102 (-1.5%) 0.00 247
2018-04-01 $99,175 (19.5%) $130,845 (5.7%) 0.00 227
2018-05-01 $107,000 (16.1%) $139,265 (5.0%) 0.00 223
2018-06-01 $122,500 (36.0%) $149,119 (15.5%) 0.00 256
2018-07-01 $91,575 (-6.3%) $129,805 (-0.2%) 0.00 293
2018-08-01 $94,575 (-7.7%) $133,824 (-4.8%) 0.00 297
2018-09-01 $99,900 (0.0%) $137,634 (-6.8%) 0.00 317
2018-10-01 $119,900 (23.9%) $139,225 (-5.0%) 0.00 366
2018-11-01 $117,500 (23.8%) $134,403 (-6.5%) 0.00 357
2018-12-01 $112,245 (26.5%) $129,860 (5.5%) 0.00 372
2019-01-01 $111,073 (29.8%) $128,095 (3.8%) 0.00 343
2019-02-01 $112,450 (37.4%) $127,911 (7.6%) 0.00 313
2019-03-01 $115,321 (32.6%) $129,059 (5.7%) 0.00 281
2019-04-01 $120,346 (21.4%) $136,663 (4.5%) 0.00 252
2019-05-01 $123,490 (15.4%) $142,991 (2.7%) 0.00 238
2019-06-01 $129,945 (6.1%) $150,283 (0.8%) 0.00 236
2019-07-01 $135,950 (48.5%) $154,896 (19.3%) 0.00 232
2019-08-01 $133,109 (40.7%) $153,683 (14.8%) 0.00 236
2019-09-01 $122,923 (23.1%) $149,379 (8.5%) 0.00 245
2019-10-01 $115,000 (-4.1%) $145,337 (4.4%) 0.00 253
2019-11-01 $118,990 (1.3%) $144,687 (7.7%) 0.00 242
2019-12-01 $117,868 (5.0%) $144,940 (11.6%) 0.00 227
2020-01-01 $114,995 (3.5%) $144,020 (12.4%) 0.00 205
2020-02-01 $115,000 (2.3%) $142,781 (11.6%) 0.00 182
2020-03-01 $129,700 (12.5%) $146,467 (13.5%) 0.00 148
2020-04-01 $127,400 (5.9%) $143,669 (5.1%) 0.00 149
2020-05-01 $132,900 (7.6%) $154,586 (8.1%) 0.00 135
2020-06-01 $115,945 (-10.8%) $146,463 (-2.5%) 0.00 125
2020-07-01 $136,725 (0.6%) $163,655 (5.7%) 0.00 131
2020-08-01 $149,900 (12.6%) $160,951 (4.7%) 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 (7.4%) 0.00 125
2020-11-01 $122,150 (2.7%) $153,141 (5.8%) 0.00 137
2020-12-01 $122,450 (3.9%) $156,344 (7.9%) 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 (-0.9%) $158,701 (8.4%) 0.00 73
2021-07-01 $109,900 (-19.6%) $146,671 (-10.4%) 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 $107,950 (-17.0%) $137,878 (-24.3%) 0.00 82
2022-04-01 $109,450 (-31.5%) $139,535 (-28.1%) 0.00 67
2022-05-01 $149,900 (-2.0%) $179,654 (-0.5%) 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%) 0.00 119
2022-08-01 $130,675 (12.5%) $180,610 (11.0%) 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 $161,500 (26.7%) $188,662 (16.3%) 0.00 156
2022-12-01 $164,000 (36.7%) $189,819 (20.9%) 0.00 133
2023-01-01 $149,250 (31.0%) $180,435 (41.3%) 0.00 118
2023-02-01 $158,675 (60.8%) $190,425 (55.4%) 0.00 81
2023-03-01 $143,475 (32.9%) $188,015 (36.4%) 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 (7.4%) 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 (23.5%) 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 (19.3%) $227,816 (20.8%) 0.00 142
2023-12-01 $184,700 (12.6%) $221,341 (16.6%) 0.00 148
Kokomo's median listing price for 2023-12-01 was $184,700, a difference of $20,700 (12.6%) versus the prior year and $-7,900 versus the prior month.

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

Kokomo's average listing price for 2023-12-01 was $221,341, a difference of $31,522 (16.6%) versus the prior year and $-6,475 versus the prior month.

For the 2023-12-01 period, Kokomo had 148 MLS listings, a difference of 6 listings (4%) versus the prior month and 15 listings (11%) 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 1,533 sqft
2018-02-01 0 days 1,491 sqft
2018-03-01 0 days 1,499 sqft
2018-04-01 0 days 1,555 sqft
2018-05-01 0 days 1,575 sqft
2018-06-01 0 days 1,642 sqft
2018-07-01 0 days 1,531 sqft
2018-08-01 0 days 1,592 sqft
2018-09-01 0 days 1,627 sqft
2018-10-01 0 days 1,615 sqft
2018-11-01 0 days 1,592 sqft
2018-12-01 0 days 1,564 sqft
2019-01-01 0 days 1,498 sqft
2019-02-01 0 days 1,501 sqft
2019-03-01 0 days 1,524 sqft
2019-04-01 0 days 1,572 sqft
2019-05-01 0 days 1,605 sqft
2019-06-01 0 days 1,712 sqft
2019-07-01 0 days 1,668 sqft
2019-08-01 0 days 1,690 sqft
2019-09-01 0 days 1,675 sqft
2019-10-01 0 days 1,632 sqft
2019-11-01 0 days 1,577 sqft
2019-12-01 0 days 1,561 sqft
2020-01-01 0 days 1,665 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 1,611 sqft
2020-07-01 0 days 1,734 sqft
2020-08-01 0 days 1,640 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 1,415 sqft
2022-04-01 0 days 1,448 sqft
2022-05-01 0 days 1,588 sqft
2022-06-01 0 days 1,534 sqft
2022-07-01 0 days 1,463 sqft
2022-08-01 0 days 1,543 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 1,505 sqft
2023-01-01 0 days 1,488 sqft
2023-02-01 0 days 1,532 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
Kokomo's median listing age (time on market) for 2023-12-01 was 0 days.

Kokomo's median square footage for active listings during the 2023-12-01 period was 1,724 sqft. One year prior, the average listing was 1,505 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.