Logansport VA Loan Rates, Closing Costs & Stats
Logansport, 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.
Logansport's 21 lenders originated 39 VA loans during 2023. The total origination value was $7,415,000, with an average VA loan value of $190,128.
Logansport VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Logansport
averaged
7.08%
for the week of 2024-11-08, compared to the national average (all VA variants) of
6.34% for the same period.
Logansport's average VA mortgage closing costs are $4,169.
The average rate for the prior week (2024-11-01) was
7.03% and
one month ago for the week of 2024-10-04, the
average rate was 6.36%.
The average rate one year ago was 7.92%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.14%.
Logansport 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 Logansport level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 11 | 7.00% | $5,111 |
| MOVEMENT MORTGAGE, LLC | 4 | 6.72% | $5,722 |
| PLAZA HOME MORTGAGE, INC. | 2 | 7.25% | $15,752 |
| QUICKEN LOANS, LLC | 2 | 6.37% | $7,364 |
| LOANDEPOT.COM, LLC | 2 | 6.13% | $10,665 |
| Horizon Bank | 1 | 7.50% | $1,233 |
| LAKEVIEW LOAN SERVICING, LLC | 1 | 6.75% | $5,471 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 7.75% | $5,275 |
| NAVY FEDERAL CREDIT UNION | 1 | 5.63% | $2,755 |
| NEW DAY FINANCIAL, LLC | 1 | 8.25% | $16,537 |
| NEWREZ LLC | 1 | 6.75% | $4,459 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 6.75% | $1,972 |
| PENTAGON FEDERAL CREDIT UNION | 1 | 5.75% | $3,376 |
| RUOFF MORTGAGE COMPANY, INC. | 1 | 7.00% | $2,429 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.38% | $16,592 |
| AMERICAN FINANCIAL NETWORK, INC. | 1 | 7.13% | $11,377 |
| VILLAGE CAPITAL MORTGAGE | 1 | 7.50% | $5,876 |
| BROKER SOLUTIONS, INC. | 1 | 7.25% | $10,474 |
| CALIBER HOME LOANS, INC. | 1 | 6.25% | $9,923 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 6.13% | $2,239 |
| FREEDOM MORTGAGE CORPORATION | 1 | 6.25% | $8,113 |
The top Logansport VA lender as defined by loan originations is Mortgage Research Center, LLC, with
11 VA loans originated. Their average total fees are
$5,111, which is $611
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Logansport VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($5,111), .
The lowest rate Logansport VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC (7.00%), .