Marion VA Loan Rates, Closing Costs & Stats

Marion, OH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 25 lenders originated 68 VA loans during 2023. The total origination value was $12,870,000, with an average VA loan value of $189,265.

    Marion VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Marion averaged 6.61% 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 $5,232.

    The average rate for the prior week (2024-12-06) was 6.54% and one month ago for the week of 2024-11-08, the average rate was 6.94%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

    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 11 6.82% $6,115
    UNION HOME MORTGAGE CORP. 7 6.48% $6,953
    CROSSCOUNTRY MORTGAGE, LLC 4 6.11% $6,628
    QUICKEN LOANS, LLC 4 6.40% $7,452
    NFM, INC. 4 6.63% $4,706
    Barrington Bank & Trust Company, N.A. 3 7.08% $6,768
    PENNYMAC LOAN SERVICES, LLC 3 5.58% $2,737
    The Federal Savings Bank 3 6.17% $16,346
    RUOFF MORTGAGE COMPANY, INC. 2 6.63% $5,410
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 7.38% $3,773
    Flagstar Bank, FSB 2 5.94% $9,311
    NEW DAY FINANCIAL, LLC 1 7.49% $18,289
    FREEDOM MORTGAGE CORPORATION 1 6.00% $13,376
    UNITED WHOLESALE MORTGAGE, LLC 1 5.75% $3,796
    PLANET HOME LENDING, LLC 1 6.13% $2,570
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.75% $6,026
    ROYAL UNITED MORTGAGE LLC 1 5.75% $10,483
    U.S. Bank 1 6.75% $2,063
    The Huntington National Bank 1 6.75% $2,583
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $3,141
    Union Savings Bank 1 7.25% $3,594
    MID AMERICA MORTGAGE, INC. 1 6.75% $3,123
    GUILD MORTGAGE COMPANY 1 6.63% $7,381
    GENEVA FINANCIAL, LLC 1 6.50% $9,175
    NAVY FEDERAL CREDIT UNION 1 5.50% $4,859

    The top Marion VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $6,115, which is $838 lower than the next largest lender, UNION HOME MORTGAGE CORP..

    The lowest fee Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,115), .

    The lowest rate Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.82%), .

    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 $79,400 (-5.6%) $121,146 (9.0%) 0.00 135
    2018-02-01 $79,650 (-0.4%) $126,444 (11.2%) 0.00 132
    2018-03-01 $78,950 (-1.3%) $126,265 (10.1%) 0.00 128
    2018-04-01 $79,425 (-0.1%) $134,571 (22.4%) 0.00 109
    2018-05-01 $88,663 (11.9%) $132,892 (19.0%) 0.00 112
    2018-06-01 $94,500 (8.7%) $139,920 (13.6%) 0.00 129
    2018-07-01 $99,200 (12.8%) $142,133 (13.7%) 0.00 142
    2018-08-01 $91,450 (5.8%) $135,050 (6.6%) 0.00 168
    2018-09-01 $91,900 (15.0%) $129,849 (5.9%) 0.00 167
    2018-10-01 $88,675 (13.1%) $126,916 (0.9%) 0.00 159
    2018-11-01 $84,225 (10.4%) $117,602 (1.1%) 0.00 162
    2018-12-01 $74,900 (0.0%) $110,366 (-5.8%) 0.00 152
    2019-01-01 $74,900 (-5.7%) $103,412 (-14.6%) 0.00 134
    2019-02-01 $79,900 (0.3%) $106,028 (-16.2%) 0.00 117
    2019-03-01 $79,357 (0.5%) $109,586 (-13.2%) 0.00 106
    2019-04-01 $78,900 (-0.7%) $112,892 (-16.1%) 0.00 96
    2019-05-01 $91,475 (3.2%) $133,149 (0.2%) 0.00 97
    2019-06-01 $89,900 (-4.9%) $141,781 (1.3%) 0.00 112
    2019-07-01 $91,500 (-7.8%) $149,466 (5.2%) 0.00 108
    2019-08-01 $102,960 (12.6%) $152,309 (12.8%) 0.00 112
    2019-09-01 $106,920 (16.3%) $151,769 (16.9%) 0.00 120
    2019-10-01 $109,950 (24.0%) $150,691 (18.7%) 0.00 133
    2019-11-01 $109,900 (30.5%) $149,253 (26.9%) 0.00 137
    2019-12-01 $94,688 (26.4%) $145,689 (32.0%) 0.00 128
    2020-01-01 $89,900 (20.0%) $144,638 (39.9%) 0.00 102
    2020-02-01 $89,500 (12.0%) $135,351 (27.7%) 0.00 93
    2020-03-01 $84,125 (6.0%) $136,360 (24.4%) 0.00 78
    2020-04-01 $87,800 (11.3%) $137,728 (22.0%) 0.00 75
    2020-05-01 $87,900 (-3.9%) $149,850 (12.5%) 0.00 79
    2020-06-01 $89,600 (-0.3%) $136,246 (-3.9%) 0.00 64
    2020-07-01 $96,400 (5.4%) $153,670 (2.8%) 0.00 59
    2020-08-01 $114,950 (11.7%) $169,189 (11.1%) 0.00 56
    2020-09-01 $135,400 (26.6%) $180,316 (18.8%) 0.00 54
    2020-10-01 $119,900 (9.1%) $164,500 (9.2%) 0.00 66
    2020-11-01 $138,950 (26.4%) $176,200 (18.1%) 0.00 67
    2020-12-01 $129,200 (36.5%) $165,546 (13.6%) 0.00 56
    2021-01-01 $137,200 (52.6%) $176,741 (22.2%) 0.00 41
    2021-02-01 $105,375 (17.7%) $166,234 (22.8%) 0.00 30
    2021-03-01 $93,700 (11.4%) $159,505 (17.0%) 0.00 30
    2021-04-01 $167,200 (90.4%) $177,704 (29.0%) 0.00 41
    2021-05-01 $194,900 (121.7%) $180,897 (20.7%) 0.00 52
    2021-06-01 $149,450 (66.8%) $175,008 (28.5%) 0.00 52
    2021-07-01 $129,900 (34.8%) $163,493 (6.4%) 0.00 71
    2021-08-01 $130,325 (13.4%) $172,965 (2.2%) 0.00 82
    2021-09-01 $121,800 (-10.0%) $163,744 (-9.2%) 0.00 75
    2021-10-01 $114,900 (-4.2%) $151,246 (-8.1%) 0.00 78
    2021-11-01 $124,250 (-10.6%) $145,283 (-17.6%) 0.00 78
    2021-12-01 $119,225 (-7.7%) $141,677 (-14.4%) 0.00 70
    2022-01-01 $119,900 (-12.6%) $139,405 (-21.1%) 0.00 56
    2022-02-01 $129,250 (22.7%) $165,545 (-0.4%) 0.00 33
    2022-03-01 $135,700 (44.8%) $177,307 (11.2%) 0.00 26
    2022-04-01 $143,500 (-14.2%) $172,176 (-3.1%) 0.00 31
    2022-05-01 $103,092 (-47.1%) $147,397 (-18.5%) 0.00 59
    2022-06-01 $111,725 (-25.2%) $159,448 (-8.9%) 0.00 74
    2022-07-01 $138,900 (6.9%) $173,428 (6.1%) 0.00 75
    2022-08-01 $154,975 (18.9%) $197,608 (14.3%) 0.00 87
    2022-09-01 $148,900 (22.3%) $182,386 (11.4%) 0.00 99
    2022-10-01 $145,000 (26.2%) $172,198 (13.9%) 0.00 110
    2022-11-01 $146,075 (17.6%) $173,785 (19.6%) 0.00 96
    2022-12-01 $139,900 (17.3%) $169,973 (20.0%) 0.00 87
    2023-01-01 $134,900 (12.5%) $166,484 (19.4%) 0.00 70
    2023-02-01 $126,225 (-2.3%) $165,978 (0.3%) 0.00 60
    2023-03-01 $127,450 (-6.1%) $176,856 (-0.3%) 0.00 54
    2023-04-01 $138,200 (-3.7%) $174,060 (1.1%) 0.00 46
    2023-05-01 $131,700 (27.8%) $162,671 (10.4%) 0.00 40
    2023-06-01 $139,950 (25.3%) $205,864 (29.1%) 0.00 48
    2023-07-01 $164,900 (18.7%) $228,475 (31.7%) 0.00 52
    2023-08-01 $195,175 (25.9%) $239,114 (21.0%) 0.00 69
    2023-09-01 $185,000 (24.2%) $229,162 (25.7%) 0.00 77
    2023-10-01 $177,500 (22.4%) $209,160 (21.5%) 0.00 82
    2023-11-01 $161,225 (10.4%) $207,077 (19.2%) 0.00 96
    2023-12-01 $171,944 (22.9%) $205,346 (20.8%) 0.00 98
    2024-01-01 $174,947 (29.7%) $202,860 (21.9%) 0.00 87
    2024-02-01 $191,225 (51.5%) $221,336 (33.4%) 0.00 77
    2024-03-01 $216,950 (70.2%) $248,955 (40.8%) 0.00 52
    2024-04-01 $243,425 (76.1%) $271,743 (56.1%) 0.00 61
    2024-05-01 $246,995 (87.5%) $275,681 (69.5%) 0.00 71
    2024-06-01 $232,400 (66.1%) $278,827 (35.4%) 0.00 71
    2024-07-01 $184,725 (12.0%) $241,843 (5.9%) 0.00 93
    2024-08-01 $191,040 (-2.1%) $233,758 (-2.2%) 0.00 105
    2024-09-01 $184,950 (0.0%) $224,571 (-2.0%) 0.00 122
    2024-10-01 $184,450 (3.9%) $229,973 (10.0%) 0.00 124
    2024-11-01 $189,000 (17.2%) $277,984 (34.2%) 0.00 117
    Marion's median listing price for 2024-11-01 was $189,000, a difference of $27,775 (17.2%) versus the prior year and $4,550 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 $277,984, a difference of $70,907 (34.2%) versus the prior year and $48,011 versus the prior month.

    For the 2024-11-01 period, Marion had 117 MLS listings, a difference of -7 listings (-6%) versus the prior month and 21 listings (22%) 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 1,506 sqft
    2018-02-01 0 days 1,509 sqft
    2018-03-01 0 days 1,513 sqft
    2018-04-01 0 days 1,582 sqft
    2018-05-01 0 days 1,483 sqft
    2018-06-01 0 days 1,484 sqft
    2018-07-01 0 days 1,478 sqft
    2018-08-01 0 days 1,474 sqft
    2018-09-01 0 days 1,481 sqft
    2018-10-01 0 days 1,474 sqft
    2018-11-01 0 days 1,464 sqft
    2018-12-01 0 days 1,422 sqft
    2019-01-01 0 days 1,338 sqft
    2019-02-01 0 days 1,344 sqft
    2019-03-01 0 days 1,337 sqft
    2019-04-01 0 days 1,329 sqft
    2019-05-01 0 days 1,450 sqft
    2019-06-01 0 days 1,442 sqft
    2019-07-01 0 days 1,444 sqft
    2019-08-01 0 days 1,461 sqft
    2019-09-01 0 days 1,488 sqft
    2019-10-01 0 days 1,506 sqft
    2019-11-01 0 days 1,509 sqft
    2019-12-01 0 days 1,542 sqft
    2020-01-01 0 days 1,487 sqft
    2020-02-01 0 days 1,399 sqft
    2020-03-01 0 days 1,429 sqft
    2020-04-01 0 days 1,398 sqft
    2020-05-01 0 days 1,398 sqft
    2020-06-01 0 days 1,448 sqft
    2020-07-01 0 days 1,496 sqft
    2020-08-01 0 days 1,466 sqft
    2020-09-01 0 days 1,564 sqft
    2020-10-01 0 days 1,599 sqft
    2020-11-01 0 days 1,666 sqft
    2020-12-01 0 days 1,475 sqft
    2021-01-01 0 days 1,461 sqft
    2021-02-01 0 days 1,533 sqft
    2021-03-01 0 days 1,493 sqft
    2021-04-01 0 days 1,543 sqft
    2021-05-01 0 days 1,586 sqft
    2021-06-01 0 days 1,549 sqft
    2021-07-01 0 days 1,476 sqft
    2021-08-01 0 days 1,475 sqft
    2021-09-01 0 days 1,446 sqft
    2021-10-01 0 days 1,474 sqft
    2021-11-01 0 days 1,396 sqft
    2021-12-01 0 days 1,321 sqft
    2022-01-01 0 days 1,324 sqft
    2022-02-01 0 days 1,440 sqft
    2022-03-01 0 days 1,393 sqft
    2022-04-01 0 days 1,459 sqft
    2022-05-01 0 days 1,379 sqft
    2022-06-01 0 days 1,520 sqft
    2022-07-01 0 days 1,500 sqft
    2022-08-01 0 days 1,505 sqft
    2022-09-01 0 days 1,484 sqft
    2022-10-01 0 days 1,456 sqft
    2022-11-01 0 days 1,426 sqft
    2022-12-01 0 days 1,476 sqft
    2023-01-01 0 days 1,497 sqft
    2023-02-01 0 days 1,507 sqft
    2023-03-01 0 days 1,536 sqft
    2023-04-01 0 days 1,526 sqft
    2023-05-01 0 days 1,480 sqft
    2023-06-01 0 days 1,576 sqft
    2023-07-01 0 days 1,592 sqft
    2023-08-01 0 days 1,584 sqft
    2023-09-01 0 days 1,560 sqft
    2023-10-01 0 days 1,502 sqft
    2023-11-01 0 days 1,430 sqft
    2023-12-01 0 days 1,446 sqft
    2024-01-01 0 days 1,460 sqft
    2024-02-01 0 days 1,552 sqft
    2024-03-01 0 days 1,614 sqft
    2024-04-01 0 days 1,811 sqft
    2024-05-01 0 days 1,673 sqft
    2024-06-01 0 days 1,649 sqft
    2024-07-01 0 days 1,563 sqft
    2024-08-01 0 days 1,561 sqft
    2024-09-01 0 days 1,589 sqft
    2024-10-01 0 days 1,594 sqft
    2024-11-01 0 days 1,540 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 1,540 sqft. One year prior, the average listing was 1,430 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.