Marion VA Loan Rates, Closing Costs & Stats

Marion, 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.

    Marion's 22 lenders originated 68 VA loans during 2023. The total origination value was $13,180,000, with an average VA loan value of $193,824.

    Marion VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Marion averaged 6.35% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Marion's average VA mortgage closing costs are $3,545.

    The average rate for the prior week (2024-12-06) was 6.49% and one month ago for the week of 2024-11-08, the average rate was 6.78%.

    The average rate one year ago was 7.13%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.98%.

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

    Marion 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 Marion level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 19 6.74% $4,750
    NEW DAY FINANCIAL, LLC 6 7.66% $7,312
    RUOFF MORTGAGE COMPANY, INC. 6 6.75% $4,367
    UNION HOME MORTGAGE CORP. 6 7.04% $6,026
    NAVY FEDERAL CREDIT UNION 6 5.63% $4,603
    QUICKEN LOANS, LLC 4 6.37% $6,331
    MOVEMENT MORTGAGE, LLC 3 7.21% $4,751
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.88% $1,374
    LOANDEPOT.COM, LLC 2 5.99% $8,194
    GVC MORTGAGE, INC. 2 7.13% $5,652
    UNITED WHOLESALE MORTGAGE, LLC 1 6.38% $2,489
    American Mortgage & Equity Consultants, Inc. 1 7.13% $5,409
    V.I.P. MORTGAGE, INC. 1 7.00% $5,926
    Barrington Bank & Trust Company, N.A. 1 7.25% $4,154
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.50% $11,125
    FREEDOM MORTGAGE CORPORATION 1 6.75% $6,801
    JPMorgan Chase Bank 1 6.00% $4,517
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.00% $6,646
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $2,277
    ROYAL UNITED MORTGAGE LLC 1 7.00% $5,821
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $3,656
    TOP FLITE FINANCIAL, INC. 1 6.75% $10,130

    The top Marion VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $4,750, which is $2,561 lower than the next largest lender, NEW DAY FINANCIAL, LLC.

    The lowest fee Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,750), .

    The lowest rate Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.74%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marion (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 $69,900 (-12.1%) $98,698 (1.1%) 0.00 226
    2018-02-01 $69,900 (-11.4%) $99,117 (-1.2%) 0.00 229
    2018-03-01 $69,900 (-7.6%) $98,167 (-2.6%) 0.00 229
    2018-04-01 $69,900 (-6.7%) $97,691 (-3.5%) 0.00 238
    2018-05-01 $69,900 (-8.3%) $103,167 (1.3%) 0.00 251
    2018-06-01 $73,900 (-3.0%) $106,273 (5.7%) 0.00 246
    2018-07-01 $69,900 (-8.6%) $101,705 (-1.2%) 0.00 245
    2018-08-01 $73,450 (-5.8%) $100,099 (-6.6%) 0.00 266
    2018-09-01 $74,900 (-0.1%) $101,500 (-6.7%) 0.00 273
    2018-10-01 $74,925 (0.0%) $102,978 (-4.8%) 0.00 277
    2018-11-01 $72,600 (3.9%) $101,993 (0.3%) 0.00 266
    2018-12-01 $69,900 (3.6%) $100,719 (6.6%) 0.00 251
    2019-01-01 $67,575 (-3.3%) $96,974 (-1.8%) 0.00 246
    2019-02-01 $69,900 (0.0%) $97,787 (-1.3%) 0.00 239
    2019-03-01 $69,357 (-0.8%) $97,555 (-0.6%) 0.00 210
    2019-04-01 $69,457 (-0.6%) $101,529 (3.9%) 0.00 170
    2019-05-01 $61,200 (-12.5%) $100,118 (-3.0%) 0.00 157
    2019-06-01 $60,750 (-17.8%) $100,755 (-5.2%) 0.00 171
    2019-07-01 $74,200 (6.2%) $113,535 (11.6%) 0.00 188
    2019-08-01 $77,291 (5.2%) $117,174 (17.1%) 0.00 197
    2019-09-01 $88,377 (18.0%) $123,296 (21.5%) 0.00 199
    2019-10-01 $93,518 (24.8%) $125,728 (22.1%) 0.00 202
    2019-11-01 $91,100 (25.5%) $125,153 (22.7%) 0.00 217
    2019-12-01 $90,800 (29.9%) $125,367 (24.5%) 0.00 214
    2020-01-01 $83,270 (23.2%) $118,347 (22.0%) 0.00 206
    2020-02-01 $79,900 (14.3%) $115,818 (18.4%) 0.00 189
    2020-03-01 $79,350 (14.4%) $111,377 (14.2%) 0.00 189
    2020-04-01 $79,900 (15.0%) $114,457 (12.7%) 0.00 175
    2020-05-01 $79,900 (30.6%) $115,939 (15.8%) 0.00 149
    2020-06-01 $76,875 (26.5%) $116,491 (15.6%) 0.00 156
    2020-07-01 $78,125 (5.3%) $117,803 (3.8%) 0.00 157
    2020-08-01 $73,900 (-4.4%) $106,727 (-8.9%) 0.00 140
    2020-09-01 $70,950 (-19.7%) $103,860 (-15.8%) 0.00 136
    2020-10-01 $75,300 (-19.5%) $108,619 (-13.6%) 0.00 143
    2020-11-01 $75,375 (-17.3%) $108,905 (-13.0%) 0.00 144
    2020-12-01 $74,675 (-17.8%) $109,849 (-12.4%) 0.00 129
    2021-01-01 $79,000 (-5.1%) $110,068 (-7.0%) 0.00 112
    2021-02-01 $76,975 (-3.7%) $110,036 (-5.0%) 0.00 100
    2021-03-01 $66,300 (-16.5%) $99,808 (-10.4%) 0.00 71
    2021-04-01 $81,150 (1.6%) $100,623 (-12.1%) 0.00 52
    2021-05-01 $79,900 (0.0%) $105,505 (-9.0%) 0.00 53
    2021-06-01 $81,175 (5.6%) $102,478 (-12.0%) 0.00 51
    2021-07-01 $82,450 (5.5%) $105,159 (-10.7%) 0.00 60
    2021-08-01 $89,200 (20.7%) $119,875 (12.3%) 0.00 76
    2021-09-01 $89,350 (25.9%) $124,606 (20.0%) 0.00 82
    2021-10-01 $84,900 (12.8%) $120,783 (11.2%) 0.00 77
    2021-11-01 $77,925 (3.4%) $119,123 (9.4%) 0.00 84
    2021-12-01 $87,500 (17.2%) $125,363 (14.1%) 0.00 78
    2022-01-01 $82,854 (4.9%) $111,646 (1.4%) 0.00 66
    2022-02-01 $81,825 (6.3%) $112,824 (2.5%) 0.00 51
    2022-03-01 $72,900 (10.0%) $109,029 (9.2%) 0.00 53
    2022-04-01 $75,500 (-7.0%) $112,314 (11.6%) 0.00 55
    2022-05-01 $80,575 (0.8%) $127,536 (20.9%) 0.00 63
    2022-06-01 $82,450 (1.6%) $125,882 (22.8%) 0.00 72
    2022-07-01 $89,000 (7.9%) $133,278 (26.7%) 0.00 85
    2022-08-01 $97,625 (9.5%) $127,714 (6.5%) 0.00 93
    2022-09-01 $99,950 (11.9%) $141,525 (13.6%) 0.00 104
    2022-10-01 $99,900 (17.7%) $132,170 (9.4%) 0.00 104
    2022-11-01 $102,050 (31.0%) $140,254 (17.7%) 0.00 104
    2022-12-01 $104,900 (19.9%) $137,877 (10.0%) 0.00 105
    2023-01-01 $79,900 (-3.6%) $113,045 (1.3%) 0.00 91
    2023-02-01 $74,425 (-9.0%) $110,832 (-1.8%) 0.00 85
    2023-03-01 $77,400 (6.2%) $111,905 (2.6%) 0.00 75
    2023-04-01 $92,500 (22.5%) $141,349 (25.9%) 0.00 58
    2023-05-01 $99,900 (24.0%) $149,165 (17.0%) 0.00 62
    2023-06-01 $97,450 (18.2%) $155,425 (23.5%) 0.00 66
    2023-07-01 $99,900 (12.3%) $146,846 (10.2%) 0.00 63
    2023-08-01 $111,000 (13.7%) $141,945 (11.1%) 0.00 69
    2023-09-01 $115,950 (16.0%) $151,812 (7.3%) 0.00 73
    2023-10-01 $114,950 (15.1%) $160,163 (21.2%) 0.00 94
    2023-11-01 $129,950 (27.3%) $155,490 (10.9%) 0.00 110
    2023-12-01 $138,900 (32.4%) $157,084 (13.9%) 0.00 109
    2024-01-01 $145,975 (82.7%) $166,793 (47.6%) 0.00 104
    2024-02-01 $148,800 (99.9%) $170,153 (53.5%) 0.00 89
    2024-03-01 $144,450 (86.6%) $171,971 (53.7%) 0.00 81
    2024-04-01 $167,000 (80.5%) $211,497 (49.6%) 0.00 80
    2024-05-01 $148,249 (48.4%) $181,101 (21.4%) 0.00 93
    2024-06-01 $129,950 (33.4%) $160,822 (3.5%) 0.00 92
    2024-07-01 $149,925 (50.1%) $170,056 (15.8%) 0.00 104
    2024-08-01 $145,900 (31.4%) $167,763 (18.2%) 0.00 116
    2024-09-01 $158,750 (36.9%) $173,411 (14.2%) 0.00 126
    2024-10-01 $151,100 (31.5%) $166,233 (3.8%) 0.00 133
    2024-11-01 $144,500 (11.2%) $162,145 (4.3%) 0.00 129
    Marion's median listing price for 2024-11-01 was $144,500, a difference of $14,550 (11.2%) versus the prior year and $-6,600 versus the prior month.

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

    Marion's average listing price for 2024-11-01 was $162,145, a difference of $6,655 (4.3%) versus the prior year and $-4,088 versus the prior month.

    For the 2024-11-01 period, Marion had 129 MLS listings, a difference of -4 listings (-3%) versus the prior month and 19 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,558 sqft
    2018-02-01 0 days 1,547 sqft
    2018-03-01 0 days 1,480 sqft
    2018-04-01 0 days 1,420 sqft
    2018-05-01 0 days 1,387 sqft
    2018-06-01 0 days 1,442 sqft
    2018-07-01 0 days 1,411 sqft
    2018-08-01 0 days 1,434 sqft
    2018-09-01 0 days 1,442 sqft
    2018-10-01 0 days 1,472 sqft
    2018-11-01 0 days 1,464 sqft
    2018-12-01 0 days 1,466 sqft
    2019-01-01 0 days 1,478 sqft
    2019-02-01 0 days 1,491 sqft
    2019-03-01 0 days 1,510 sqft
    2019-04-01 0 days 1,569 sqft
    2019-05-01 0 days 1,488 sqft
    2019-06-01 0 days 1,442 sqft
    2019-07-01 0 days 1,528 sqft
    2019-08-01 0 days 1,504 sqft
    2019-09-01 0 days 1,539 sqft
    2019-10-01 0 days 1,555 sqft
    2019-11-01 0 days 1,566 sqft
    2019-12-01 0 days 1,568 sqft
    2020-01-01 0 days 1,558 sqft
    2020-02-01 0 days 1,501 sqft
    2020-03-01 0 days 1,475 sqft
    2020-04-01 0 days 1,458 sqft
    2020-05-01 0 days 1,492 sqft
    2020-06-01 0 days 1,463 sqft
    2020-07-01 0 days 1,527 sqft
    2020-08-01 0 days 1,440 sqft
    2020-09-01 0 days 1,422 sqft
    2020-10-01 0 days 1,456 sqft
    2020-11-01 0 days 1,447 sqft
    2020-12-01 0 days 1,483 sqft
    2021-01-01 0 days 1,492 sqft
    2021-02-01 0 days 1,451 sqft
    2021-03-01 0 days 1,398 sqft
    2021-04-01 0 days 1,461 sqft
    2021-05-01 0 days 1,488 sqft
    2021-06-01 0 days 1,420 sqft
    2021-07-01 0 days 1,490 sqft
    2021-08-01 0 days 1,547 sqft
    2021-09-01 0 days 1,494 sqft
    2021-10-01 0 days 1,427 sqft
    2021-11-01 0 days 1,432 sqft
    2021-12-01 0 days 1,443 sqft
    2022-01-01 0 days 1,424 sqft
    2022-02-01 0 days 1,434 sqft
    2022-03-01 0 days 1,387 sqft
    2022-04-01 0 days 1,498 sqft
    2022-05-01 0 days 1,562 sqft
    2022-06-01 0 days 1,542 sqft
    2022-07-01 0 days 1,532 sqft
    2022-08-01 0 days 1,558 sqft
    2022-09-01 0 days 1,562 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,619 sqft
    2022-12-01 0 days 1,515 sqft
    2023-01-01 0 days 1,454 sqft
    2023-02-01 0 days 1,441 sqft
    2023-03-01 0 days 1,478 sqft
    2023-04-01 0 days 1,500 sqft
    2023-05-01 0 days 1,450 sqft
    2023-06-01 0 days 1,505 sqft
    2023-07-01 0 days 1,500 sqft
    2023-08-01 0 days 1,408 sqft
    2023-09-01 0 days 1,360 sqft
    2023-10-01 0 days 1,422 sqft
    2023-11-01 0 days 1,512 sqft
    2023-12-01 0 days 1,523 sqft
    2024-01-01 0 days 1,502 sqft
    2024-02-01 0 days 1,654 sqft
    2024-03-01 0 days 1,762 sqft
    2024-04-01 0 days 1,509 sqft
    2024-05-01 0 days 1,500 sqft
    2024-06-01 0 days 1,490 sqft
    2024-07-01 0 days 1,547 sqft
    2024-08-01 0 days 1,490 sqft
    2024-09-01 0 days 1,555 sqft
    2024-10-01 0 days 1,517 sqft
    2024-11-01 0 days 1,544 sqft
    Marion's median listing age (time on market) for 2024-11-01 was 0 days.

    Marion's median square footage for active listings during the 2024-11-01 period was 1,544 sqft. One year prior, the average listing was 1,512 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.