Mansfield VA Loan Rates, Closing Costs & Stats

MANSFIELD, OH

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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.

    Mansfield's 37 lenders originated 120 VA loans during 2023. The total origination value was $25,420,000, with an average VA loan value of $211,833.

    Mansfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mansfield averaged 6.9% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Mansfield's average VA mortgage closing costs are $5,174.

    The average rate for the prior week (2024-04-12) was 7.03% and one month ago for the week of 2024-03-15, the average rate was 6.69%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.24%.

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

    Mansfield 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 Mansfield level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 24 6.97% $4,040
    LOANDEPOT.COM, LLC 10 6.92% $7,112
    CROSSCOUNTRY MORTGAGE, LLC 8 6.82% $8,610
    QUICKEN LOANS, LLC 7 6.08% $12,244
    UNION HOME MORTGAGE CORP. 7 7.09% $4,574
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.40% $5,164
    Mr. Cooper ( Nationstar Mortgage ) 4 6.25% $7,723
    NEW DAY FINANCIAL, LLC 4 7.18% $9,190
    NAVY FEDERAL CREDIT UNION 4 5.53% $8,537
    USAA Federal Savings Bank 3 6.71% $3,509
    FREEDOM MORTGAGE CORPORATION 3 6.92% $13,619
    The Federal Savings Bank 3 6.21% $15,389
    UNITED WHOLESALE MORTGAGE, LLC 3 7.00% $9,721
    VILLAGE CAPITAL MORTGAGE 2 6.13% $9,984
    Barrington Bank & Trust Company, N.A. 2 6.75% $5,290
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.75% $8,887
    The Park National Bank 2 6.00% $10,313
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $15,449
    BROKER SOLUTIONS, INC. 1 6.75% $7,050
    GUILD MORTGAGE COMPANY 1 7.00% $4,785
    GENEVA FINANCIAL, LLC 1 6.38% $11,223
    NBKC BANK 1 5.63% $13,088
    NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $17,821
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $3,133
    NFM, INC. 1 6.38% $21,486
    North American Savings Bank, F.S.B. 1 5.25% $14,087
    Paramount Bank 1 6.50% $2,248
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $6,640
    Plains Commerce Bank 1 6.75% $4,772
    EQUITY RESOURCES, INC. 1 6.99% $7,150
    T2 FINANCIAL LLC 1 8.13% $2,883
    Equity Prime Mortgage LLC 1 7.63% $9,369
    AMERICAN FINANCING CORPORATION 1 6.38% $4,192
    Citizens Bank 1 7.25% $5,010
    Carrington Mortgage Services, LLC 1 7.13% $9,122
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $6,667
    LOANPAL, LLC 1 5.75% $13,639

    The top Mansfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 24 VA loans originated. Their average total fees are $4,040, which is $3,072 lower than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Mansfield VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,040), LOANDEPOT.COM, LLC ($7,112), .

    The lowest rate Mansfield VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (6.92%), Mortgage Research Center, LLC (6.97%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mansfield (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 $96,975 (14.5%) $139,725 (18.6%) 0.00 260
    2018-02-01 $95,400 (8.0%) $137,484 (9.1%) 0.00 258
    2018-03-01 $99,450 (6.5%) $136,017 (5.9%) 0.00 215
    2018-04-01 $103,538 (9.1%) $147,323 (13.3%) 0.00 207
    2018-05-01 $124,925 (25.6%) $165,070 (18.3%) 0.00 233
    2018-06-01 $124,900 (25.0%) $160,652 (10.1%) 0.00 257
    2018-07-01 $114,950 (13.4%) $165,912 (14.9%) 0.00 266
    2018-08-01 $119,900 (16.8%) $167,061 (16.4%) 0.00 292
    2018-09-01 $119,900 (9.0%) $166,153 (12.0%) 0.00 283
    2018-10-01 $124,950 (15.6%) $167,496 (17.5%) 0.00 317
    2018-11-01 $116,550 (14.4%) $160,940 (13.3%) 0.00 304
    2018-12-01 $110,000 (11.4%) $155,585 (11.6%) 0.00 275
    2019-01-01 $109,900 (13.3%) $155,852 (11.5%) 0.00 232
    2019-02-01 $107,450 (12.6%) $157,379 (14.5%) 0.00 202
    2019-03-01 $109,900 (10.5%) $162,323 (19.3%) 0.00 190
    2019-04-01 $107,310 (3.6%) $164,063 (11.4%) 0.00 192
    2019-05-01 $114,925 (-8.0%) $165,124 (0.0%) 0.00 203
    2019-06-01 $121,750 (-2.5%) $168,246 (4.7%) 0.00 216
    2019-07-01 $126,000 (9.6%) $172,809 (4.2%) 0.00 238
    2019-08-01 $127,173 (6.1%) $172,890 (3.5%) 0.00 257
    2019-09-01 $123,082 (2.7%) $168,172 (1.2%) 0.00 255
    2019-10-01 $124,405 (-0.4%) $165,315 (-1.3%) 0.00 251
    2019-11-01 $122,500 (5.1%) $163,226 (1.4%) 0.00 223
    2019-12-01 $119,500 (8.6%) $159,420 (2.5%) 0.00 197
    2020-01-01 $109,900 (0.0%) $154,501 (-0.9%) 0.00 172
    2020-02-01 $104,950 (-2.3%) $164,162 (4.3%) 0.00 148
    2020-03-01 $102,450 (-6.8%) $166,715 (2.7%) 0.00 144
    2020-04-01 $109,850 (2.4%) $178,233 (8.6%) 0.00 134
    2020-05-01 $127,400 (10.9%) $182,627 (10.6%) 0.00 134
    2020-06-01 $153,075 (25.7%) $214,307 (27.4%) 0.00 126
    2020-07-01 $149,600 (18.7%) $223,579 (29.4%) 0.00 111
    2020-08-01 $140,000 (10.1%) $223,058 (29.0%) 0.00 100
    2020-09-01 $114,900 (-6.7%) $186,978 (11.2%) 0.00 129
    2020-10-01 $99,400 (-20.1%) $152,973 (-7.5%) 0.00 163
    2020-11-01 $99,150 (-19.1%) $147,235 (-9.8%) 0.00 162
    2020-12-01 $89,925 (-24.8%) $135,570 (-15.0%) 0.00 147
    2021-01-01 $122,000 (11.0%) $160,142 (3.7%) 0.00 107
    2021-02-01 $106,425 (1.4%) $145,751 (-11.2%) 0.00 88
    2021-03-01 $114,675 (11.9%) $151,062 (-9.4%) 0.00 84
    2021-04-01 $139,900 (27.4%) $187,800 (5.4%) 0.00 71
    2021-05-01 $149,900 (17.7%) $200,331 (9.7%) 0.00 78
    2021-06-01 $149,450 (-2.4%) $198,398 (-7.4%) 0.00 99
    2021-07-01 $159,000 (6.3%) $205,586 (-8.1%) 0.00 117
    2021-08-01 $146,600 (4.7%) $223,912 (0.4%) 0.00 129
    2021-09-01 $148,675 (29.4%) $224,448 (20.0%) 0.00 132
    2021-10-01 $142,450 (43.3%) $208,208 (36.1%) 0.00 141
    2021-11-01 $110,000 (10.9%) $165,935 (12.7%) 0.00 225
    2021-12-01 $110,000 (22.3%) $160,119 (18.1%) 0.00 203
    2022-01-01 $110,000 (-9.8%) $161,559 (0.9%) 0.00 174
    2022-02-01 $110,000 (3.4%) $162,931 (11.8%) 0.00 163
    2022-03-01 $112,500 (-1.9%) $191,050 (26.5%) 0.00 74
    2022-04-01 $134,900 (-3.6%) $243,629 (29.7%) 0.00 90
    2022-05-01 $154,950 (3.4%) $238,063 (18.8%) 0.00 98
    2022-06-01 $146,667 (-1.9%) $214,486 (8.1%) 0.00 115
    2022-07-01 $194,400 (22.3%) $236,013 (14.8%) 0.00 147
    2022-08-01 $189,450 (29.2%) $241,382 (7.8%) 0.00 141
    2022-09-01 $162,450 (9.3%) $213,788 (-4.8%) 0.00 167
    2022-10-01 $148,700 (4.4%) $190,369 (-8.6%) 0.00 174
    2022-11-01 $143,400 (30.4%) $195,396 (17.8%) 0.00 182
    2022-12-01 $134,950 (22.7%) $197,775 (23.5%) 0.00 146
    2023-01-01 $151,800 (38.0%) $230,838 (42.9%) 0.00 98
    2023-02-01 $149,900 (36.3%) $226,935 (39.3%) 0.00 84
    2023-03-01 $159,900 (42.1%) $231,436 (21.1%) 0.00 70
    2023-04-01 $172,450 (27.8%) $296,305 (21.6%) 0.00 58
    2023-05-01 $171,150 (10.5%) $236,351 (-0.7%) 0.00 79
    2023-06-01 $167,500 (14.2%) $231,355 (7.9%) 0.00 119
    2023-07-01 $153,950 (-20.8%) $228,717 (-3.1%) 0.00 135
    2023-08-01 $159,675 (-15.7%) $243,609 (0.9%) 0.00 140
    2023-09-01 $165,000 (1.6%) $234,920 (9.9%) 0.00 163
    2023-10-01 $179,900 (21.0%) $263,918 (38.6%) 0.00 141
    2023-11-01 $191,125 (33.3%) $283,002 (44.8%) 0.00 126
    2023-12-01 $199,900 (48.1%) $272,052 (37.6%) 0.00 125
    2024-01-01 $187,000 (23.2%) $259,037 (12.2%) 0.00 116
    2024-02-01 $224,975 (50.1%) $290,694 (28.1%) 0.00 104
    2024-03-01 $220,000 (37.6%) $295,674 (27.8%) 0.00 86
    Mansfield's median listing price for 2024-03-01 was $220,000, a difference of $60,100 (37.6%) versus the prior year and $-4,975 versus the prior month.

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

    Mansfield's average listing price for 2024-03-01 was $295,674, a difference of $64,238 (27.8%) versus the prior year and $4,980 versus the prior month.

    For the 2024-03-01 period, Mansfield had 86 MLS listings, a difference of -18 listings (-17%) versus the prior month and 16 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mansfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,455 sqft
    2018-02-01 0 days 1,457 sqft
    2018-03-01 0 days 1,468 sqft
    2018-04-01 0 days 1,489 sqft
    2018-05-01 0 days 1,540 sqft
    2018-06-01 0 days 1,504 sqft
    2018-07-01 0 days 1,505 sqft
    2018-08-01 0 days 1,523 sqft
    2018-09-01 0 days 1,609 sqft
    2018-10-01 0 days 1,608 sqft
    2018-11-01 0 days 1,547 sqft
    2018-12-01 0 days 1,543 sqft
    2019-01-01 0 days 1,519 sqft
    2019-02-01 0 days 1,488 sqft
    2019-03-01 0 days 1,504 sqft
    2019-04-01 0 days 1,442 sqft
    2019-05-01 0 days 1,456 sqft
    2019-06-01 0 days 1,538 sqft
    2019-07-01 0 days 1,574 sqft
    2019-08-01 0 days 1,605 sqft
    2019-09-01 0 days 1,585 sqft
    2019-10-01 0 days 1,576 sqft
    2019-11-01 0 days 1,538 sqft
    2019-12-01 0 days 1,497 sqft
    2020-01-01 0 days 1,487 sqft
    2020-02-01 0 days 1,468 sqft
    2020-03-01 0 days 1,421 sqft
    2020-04-01 0 days 1,486 sqft
    2020-05-01 0 days 1,525 sqft
    2020-06-01 0 days 1,629 sqft
    2020-07-01 0 days 1,703 sqft
    2020-08-01 0 days 1,512 sqft
    2020-09-01 0 days 1,460 sqft
    2020-10-01 0 days 1,396 sqft
    2020-11-01 0 days 1,472 sqft
    2020-12-01 0 days 1,441 sqft
    2021-01-01 0 days 1,396 sqft
    2021-02-01 0 days 1,329 sqft
    2021-03-01 0 days 1,328 sqft
    2021-04-01 0 days 1,440 sqft
    2021-05-01 0 days 1,463 sqft
    2021-06-01 0 days 1,528 sqft
    2021-07-01 0 days 1,452 sqft
    2021-08-01 0 days 1,582 sqft
    2021-09-01 0 days 1,536 sqft
    2021-10-01 0 days 1,491 sqft
    2021-11-01 0 days 1,411 sqft
    2021-12-01 0 days 1,426 sqft
    2022-01-01 0 days 1,385 sqft
    2022-02-01 0 days 1,394 sqft
    2022-03-01 0 days 1,437 sqft
    2022-04-01 0 days 1,546 sqft
    2022-05-01 0 days 1,586 sqft
    2022-06-01 0 days 1,580 sqft
    2022-07-01 0 days 1,687 sqft
    2022-08-01 0 days 1,586 sqft
    2022-09-01 0 days 1,532 sqft
    2022-10-01 0 days 1,481 sqft
    2022-11-01 0 days 1,460 sqft
    2022-12-01 0 days 1,490 sqft
    2023-01-01 0 days 1,538 sqft
    2023-02-01 0 days 1,458 sqft
    2023-03-01 0 days 1,441 sqft
    2023-04-01 0 days 1,449 sqft
    2023-05-01 0 days 1,494 sqft
    2023-06-01 0 days 1,462 sqft
    2023-07-01 0 days 1,533 sqft
    2023-08-01 0 days 1,483 sqft
    2023-09-01 0 days 1,478 sqft
    2023-10-01 0 days 1,538 sqft
    2023-11-01 0 days 1,504 sqft
    2023-12-01 0 days 1,577 sqft
    2024-01-01 0 days 1,533 sqft
    2024-02-01 0 days 1,557 sqft
    2024-03-01 0 days 1,547 sqft
    Mansfield's median listing age (time on market) for 2024-03-01 was 0 days.

    Mansfield's median square footage for active listings during the 2024-03-01 period was 1,547 sqft. One year prior, the average listing was 1,441 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.