Lafayette VA Loan Rates, Closing Costs & Stats

LAFAYETTE-WEST LAFAYETTE, 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.

    Lafayette's 60 lenders originated 237 VA loans during 2024. The total origination value was $72,235,000, with an average VA loan value of $304,789.

    Lafayette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lafayette averaged 0.38% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Lafayette's average VA mortgage closing costs are $5,422.

    The average rate for the prior week (2025-06-27) was 6.91% and one month ago for the week of 2025-05-30, the average rate was 7.14%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.33%.

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

    Lafayette 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 Lafayette level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.14% $5,564
    UNITED WHOLESALE MORTGAGE, LLC 25 6.13% $7,884
    QUICKEN LOANS, LLC 14 6.25% $7,813
    FREEDOM MORTGAGE CORPORATION 12 5.95% $11,381
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.60% $8,793
    USAA Federal Savings Bank 10 6.29% $4,571
    NAVY FEDERAL CREDIT UNION 8 5.55% $7,845
    PENNYMAC LOAN SERVICES, LLC 7 5.64% $4,050
    The Federal Savings Bank 6 6.35% $17,433
    RUOFF MORTGAGE COMPANY, INC. 6 6.42% $3,258
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 6.45% $6,143
    VILLAGE CAPITAL MORTGAGE 4 5.81% $6,147
    First Merchants Bank 4 6.34% $9,291
    HALLMARK HOME MORTGAGE, LLC 4 6.75% $7,559
    CROSSCOUNTRY MORTGAGE, LLC 3 6.33% $7,355
    NEW DAY FINANCIAL, LLC 3 7.33% $8,328
    CALCON MUTUAL MORTGAGE LLC 3 6.71% $9,621
    Prosperity Home Mortgage, LLC 3 6.66% $6,831
    HOMESIDE FINANCIAL, LLC 3 6.25% $9,504
    LAKEVIEW LOAN SERVICING, LLC 3 6.16% $4,817
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.21% $12,559
    CLEARPATH LENDING 3 5.58% $3,903
    AMERICAN FINANCIAL NETWORK, INC. 2 6.88% $5,601
    Carrington Mortgage Services, LLC 2 5.81% $17,632
    FAIR WAY LENDING LLC 2 7.44% $3,965
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $12,735
    PLANET HOME LENDING, LLC 2 6.06% $2,827
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 4.94% $7,692
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.25% $6,613
    AmeriHome Mortgage Company, LLC 2 6.06% $4,629
    Wells Fargo Bank 1 7.13% $1,850
    BETTER MORTGAGE CORPORATION 1 6.13% $5,396
    BROKER SOLUTIONS, INC. 1 6.25% $4,603
    CARDINAL FINANCIAL 1 7.75% $18,485
    Centier Bank 1 5.63% $0
    DAS Acquisition Company, LLC 1 6.75% $3,184
    Fifth Third Bank 1 5.75% $3,902
    First Federal Bank 1 5.63% $2,097
    First Financial Bank 1 7.13% $2,749
    First Option Mortgage, LLC 1 6.63% $9,142
    FIRST STATE MORTGAGE SERVICES, LLC 1 6.99% $2,465
    FLAT BRANCH MORTGAGE, INC. 1 6.50% $5,835
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $6,615
    GUILD MORTGAGE COMPANY 1 6.63% $8,193
    GVC MORTGAGE, INC. 1 6.63% $8,158
    LOANDEPOT.COM, LLC 1 6.50% $10,710
    LOANPAL, LLC 1 5.63% $10,285
    Magnolia Bank 1 5.99% $8,065
    MILESTONE HOME LENDING, LLC 1 6.25% $14,331
    MJW Financial LLC 1 7.25% $1,310
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $18,538
    NEWREZ LLC 1 5.75% $14,525
    NFM, INC. 1 6.50% $8,880
    Old National Bank 1 6.13% $10,418
    OPEN MORTGAGE, LLC 1 6.63% $10,057
    ROYAL UNITED MORTGAGE LLC 1 7.25% $5,684
    Service Federal Credit Union 1 6.50% $2,809
    STOCKTON MORTGAGE CORPORATION 1 7.25% $9,140
    Texana Bank 1 6.13% $843
    VERITAS FUNDING, LLC 1 6.25% $13,311

    The top Lafayette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $5,564, which is $2,320 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lafayette VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($4,571), Mortgage Research Center, LLC ($5,564), QUICKEN LOANS, LLC ($7,813), UNITED WHOLESALE MORTGAGE, LLC ($7,884) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,793).

    The lowest rate Lafayette VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION (5.95%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), Mortgage Research Center, LLC (6.14%), QUICKEN LOANS, LLC (6.25%) and USAA Federal Savings Bank (6.29%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lafayette (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 $169,900 (10.4%) $204,585 (5.0%) 0.63 473
    2018-02-01 $173,050 (9.3%) $211,022 (6.4%) 0.63 467
    2018-03-01 $185,000 (-3.4%) $217,632 (-0.2%) 0.65 446
    2018-04-01 $202,400 (1.3%) $234,073 (2.8%) 0.69 456
    2018-05-01 $199,450 (-2.7%) $237,518 (3.1%) 0.67 492
    2018-06-01 $205,900 (6.2%) $244,156 (6.0%) 0.69 519
    2018-07-01 $194,950 (2.9%) $233,918 (5.3%) 0.65 532
    2018-08-01 $191,250 (6.3%) $228,188 (3.1%) 0.64 557
    2018-09-01 $189,900 (2.7%) $222,235 (-0.7%) 0.64 558
    2018-10-01 $179,900 (-1.4%) $216,223 (-3.6%) 0.61 567
    2018-11-01 $184,000 (2.3%) $215,354 (-4.2%) 0.62 528
    2018-12-01 $189,900 (11.8%) $217,992 (4.1%) 0.66 459
    2019-01-01 $196,050 (15.4%) $221,537 (8.3%) 0.68 397
    2019-02-01 $197,325 (14.0%) $221,462 (5.0%) 0.67 378
    2019-03-01 $216,229 (16.9%) $237,517 (9.1%) 0.71 339
    2019-04-01 $238,500 (17.8%) $256,715 (9.7%) 0.76 295
    2019-05-01 $256,950 (28.8%) $278,266 (17.2%) 0.80 321
    2019-06-01 $250,000 (21.4%) $278,683 (14.1%) 0.78 330
    2019-07-01 $248,400 (27.4%) $273,486 (16.9%) 0.78 343
    2019-08-01 $236,718 (23.8%) $266,745 (16.9%) 0.75 362
    2019-09-01 $224,445 (18.2%) $258,376 (16.3%) 0.72 385
    2019-10-01 $216,264 (20.2%) $252,612 (16.8%) 0.70 399
    2019-11-01 $205,000 (11.4%) $239,929 (11.4%) 0.67 354
    2019-12-01 $201,000 (5.9%) $240,124 (10.2%) 0.67 275
    2020-01-01 $202,400 (3.2%) $234,845 (6.0%) 0.68 230
    2020-02-01 $235,900 (19.6%) $258,815 (16.9%) 0.77 242
    2020-03-01 $262,950 (21.6%) $277,454 (16.8%) 0.82 247
    2020-04-01 $238,850 (0.2%) $268,329 (4.5%) 0.75 271
    2020-05-01 $244,950 (-4.7%) $278,531 (0.1%) 0.74 259
    2020-06-01 $264,925 (6.0%) $295,390 (6.0%) 0.78 223
    2020-07-01 $252,450 (1.6%) $293,058 (7.2%) 0.73 227
    2020-08-01 $259,900 (9.8%) $306,620 (15.0%) 0.74 230
    2020-09-01 $249,200 (11.0%) $295,138 (14.2%) 0.71 235
    2020-10-01 $249,900 (15.6%) $297,011 (17.6%) 0.72 217
    2020-11-01 $245,725 (19.9%) $289,388 (20.6%) 0.72 185
    2020-12-01 $223,650 (11.3%) $280,043 (16.6%) 0.67 155
    2021-01-01 $199,450 (-1.5%) $270,500 (15.2%) 0.60 117
    2021-02-01 $238,200 (1.0%) $311,609 (20.4%) 0.69 84
    2021-03-01 $249,225 (-5.2%) $305,453 (10.1%) 0.71 90
    2021-04-01 $259,875 (8.8%) $311,862 (16.2%) 0.70 97
    2021-05-01 $239,900 (-2.1%) $310,652 (11.5%) 0.64 114
    2021-06-01 $223,725 (-15.6%) $299,157 (1.3%) 0.59 137
    2021-07-01 $217,450 (-13.9%) $286,803 (-2.1%) 0.57 167
    2021-08-01 $205,725 (-20.8%) $269,250 (-12.2%) 0.55 178
    2021-09-01 $216,592 (-13.1%) $270,136 (-8.5%) 0.58 194
    2021-10-01 $217,000 (-13.2%) $275,893 (-7.1%) 0.58 195
    2021-11-01 $225,750 (-8.1%) $293,427 (1.4%) 0.60 169
    2021-12-01 $224,925 (0.6%) $297,837 (6.4%) 0.61 137
    2022-01-01 $223,700 (12.2%) $316,250 (16.9%) 0.60 113
    2022-02-01 $260,950 (9.6%) $342,153 (9.8%) 0.68 96
    2022-03-01 $299,375 (20.1%) $366,632 (20.0%) 0.75 101
    2022-04-01 $325,000 (25.1%) $386,505 (23.9%) 0.77 108
    2022-05-01 $289,925 (20.9%) $348,772 (12.3%) 0.66 154
    2022-06-01 $282,400 (26.2%) $340,625 (13.9%) 0.63 183
    2022-07-01 $279,900 (28.7%) $335,627 (17.0%) 0.63 224
    2022-08-01 $290,000 (41.0%) $343,651 (27.6%) 0.67 195
    2022-09-01 $292,000 (34.8%) $348,471 (29.0%) 0.68 197
    2022-10-01 $300,000 (38.3%) $356,339 (29.2%) 0.71 215
    2022-11-01 $302,950 (34.2%) $343,429 (17.0%) 0.73 211
    2022-12-01 $314,900 (40.0%) $353,687 (18.8%) 0.78 204
    2023-01-01 $298,450 (33.4%) $344,316 (8.9%) 0.74 169
    2023-02-01 $304,900 (16.8%) $340,912 (-0.4%) 0.74 142
    2023-03-01 $288,925 (-3.5%) $343,139 (-6.4%) 0.68 112
    2023-04-01 $329,500 (1.4%) $383,537 (-0.8%) 0.77 106
    2023-05-01 $333,950 (15.2%) $391,902 (12.4%) 0.76 126
    2023-06-01 $354,950 (25.7%) $399,596 (17.3%) 0.80 144
    2023-07-01 $351,950 (25.7%) $389,067 (15.9%) 0.80 177
    2023-08-01 $331,250 (14.2%) $351,371 (2.3%) 0.76 180
    2023-09-01 $292,250 (0.1%) $333,973 (-4.2%) 0.68 191
    2023-10-01 $316,225 (5.4%) $343,503 (-3.6%) 0.74 218
    2023-11-01 $280,000 (-7.6%) $332,166 (-3.3%) 0.67 223
    2023-12-01 $309,500 (-1.7%) $343,690 (-2.8%) 0.75 178
    2024-01-01 $313,200 (4.9%) $344,650 (0.1%) 0.76 155
    2024-02-01 $320,375 (5.1%) $364,099 (6.8%) 0.77 134
    2024-03-01 $329,950 (14.2%) $379,073 (10.5%) 0.78 145
    2024-04-01 $326,750 (-0.8%) $379,048 (-1.2%) 0.76 156
    2024-05-01 $381,950 (14.4%) $415,767 (6.1%) 0.87 166
    2024-06-01 $364,900 (2.8%) $401,061 (0.4%) 0.83 209
    2024-07-01 $374,975 (6.5%) $409,100 (5.2%) 0.86 233
    2024-08-01 $359,950 (8.7%) $396,629 (12.9%) 0.84 236
    2024-09-01 $354,700 (21.4%) $383,017 (14.7%) 0.83 266
    2024-10-01 $350,175 (10.7%) $378,516 (10.2%) 0.82 259
    2024-11-01 $365,000 (30.4%) $385,024 (15.9%) 0.88 292
    2024-12-01 $364,975 (17.9%) $376,036 (9.4%) 0.91 252
    2025-01-01 $364,900 (16.5%) $377,484 (9.5%) 0.91 228
    2025-02-01 $362,425 (13.1%) $394,629 (8.4%) 0.88 234
    2025-03-01 $379,000 (14.9%) $416,060 (9.8%) 0.89 241
    2025-04-01 $383,975 (17.5%) $424,911 (12.1%) 0.89 259
    2025-05-01 $387,950 (1.6%) $433,524 (4.3%) 0.88 306
    Lafayette's median listing price for 2025-05-01 was $387,950, a difference of $6,000 (1.6%) versus the prior year and $3,975 versus the prior month.

    Lafayette's median listing price comes in at 88% of the national average.

    Lafayette's average listing price for 2025-05-01 was $433,524, a difference of $17,757 (4.3%) versus the prior year and $8,613 versus the prior month.

    For the 2025-05-01 period, Lafayette had 306 MLS listings, a difference of 47 listings (18%) versus the prior month and 140 listings (84%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 71 days 1,823 sqft
    2018-02-01 67 days 1,885 sqft
    2018-03-01 46 days 1,939 sqft
    2018-04-01 34 days 2,021 sqft
    2018-05-01 33 days 2,019 sqft
    2018-06-01 37 days 2,121 sqft
    2018-07-01 39 days 2,031 sqft
    2018-08-01 41 days 2,023 sqft
    2018-09-01 47 days 2,023 sqft
    2018-10-01 50 days 1,977 sqft
    2018-11-01 53 days 1,950 sqft
    2018-12-01 64 days 1,974 sqft
    2019-01-01 71 days 1,963 sqft
    2019-02-01 68 days 1,908 sqft
    2019-03-01 48 days 2,045 sqft
    2019-04-01 37 days 2,227 sqft
    2019-05-01 31 days 2,278 sqft
    2019-06-01 37 days 2,218 sqft
    2019-07-01 41 days 2,214 sqft
    2019-08-01 42 days 2,187 sqft
    2019-09-01 44 days 2,154 sqft
    2019-10-01 46 days 2,131 sqft
    2019-11-01 54 days 1,996 sqft
    2019-12-01 65 days 1,906 sqft
    2020-01-01 65 days 1,901 sqft
    2020-02-01 38 days 2,034 sqft
    2020-03-01 38 days 2,125 sqft
    2020-04-01 40 days 2,029 sqft
    2020-05-01 52 days 2,127 sqft
    2020-06-01 47 days 2,218 sqft
    2020-07-01 44 days 2,251 sqft
    2020-08-01 39 days 2,232 sqft
    2020-09-01 34 days 2,042 sqft
    2020-10-01 31 days 2,034 sqft
    2020-11-01 42 days 2,027 sqft
    2020-12-01 45 days 2,000 sqft
    2021-01-01 47 days 1,886 sqft
    2021-02-01 43 days 2,067 sqft
    2021-03-01 21 days 2,056 sqft
    2021-04-01 17 days 2,104 sqft
    2021-05-01 16 days 2,008 sqft
    2021-06-01 17 days 1,960 sqft
    2021-07-01 23 days 1,882 sqft
    2021-08-01 26 days 1,841 sqft
    2021-09-01 22 days 1,809 sqft
    2021-10-01 29 days 1,780 sqft
    2021-11-01 32 days 1,841 sqft
    2021-12-01 41 days 1,851 sqft
    2022-01-01 47 days 1,801 sqft
    2022-02-01 42 days 1,827 sqft
    2022-03-01 29 days 2,045 sqft
    2022-04-01 22 days 2,185 sqft
    2022-05-01 14 days 2,121 sqft
    2022-06-01 21 days 2,025 sqft
    2022-07-01 23 days 2,048 sqft
    2022-08-01 32 days 2,082 sqft
    2022-09-01 31 days 2,064 sqft
    2022-10-01 36 days 2,055 sqft
    2022-11-01 43 days 2,073 sqft
    2022-12-01 52 days 2,108 sqft
    2023-01-01 58 days 2,040 sqft
    2023-02-01 49 days 2,033 sqft
    2023-03-01 38 days 2,017 sqft
    2023-04-01 25 days 2,037 sqft
    2023-05-01 22 days 2,137 sqft
    2023-06-01 22 days 2,127 sqft
    2023-07-01 24 days 2,210 sqft
    2023-08-01 33 days 2,034 sqft
    2023-09-01 36 days 2,016 sqft
    2023-10-01 36 days 2,054 sqft
    2023-11-01 37 days 1,899 sqft
    2023-12-01 45 days 1,970 sqft
    2024-01-01 58 days 1,976 sqft
    2024-02-01 55 days 1,990 sqft
    2024-03-01 29 days 2,035 sqft
    2024-04-01 33 days 2,008 sqft
    2024-05-01 28 days 2,147 sqft
    2024-06-01 32 days 2,072 sqft
    2024-07-01 35 days 2,166 sqft
    2024-08-01 39 days 2,199 sqft
    2024-09-01 40 days 2,189 sqft
    2024-10-01 37 days 2,138 sqft
    2024-11-01 41 days 2,166 sqft
    2024-12-01 52 days 2,147 sqft
    2025-01-01 62 days 2,140 sqft
    2025-02-01 51 days 2,118 sqft
    2025-03-01 40 days 2,210 sqft
    2025-04-01 34 days 2,168 sqft
    2025-05-01 31 days 2,209 sqft
    Lafayette's median listing age (time on market) for 2025-05-01 was 31 days. This is 13% longer than the same period one year ago.

    Lafayette's median square footage for active listings during the 2025-05-01 period was 2,209 sqft. One year prior, the average listing was 2,147 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.