Muncie VA Loan Rates, Closing Costs & Stats

MUNCIE, 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.

Muncie's 39 lenders originated 141 VA loans during 2022. The total origination value was $28,325,000, with an average VA loan value of $200,887.

Muncie VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Muncie averaged 0.21% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Muncie's average VA mortgage closing costs are $3,901.

The average rate for the prior week (2024-02-16) was 6.89% and one month ago for the week of 2024-01-19, the average rate was 6.34%.

The average rate one year ago was 6.16%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.83%.

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

Muncie 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 Muncie level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 31 5.49% $2,749
QUICKEN LOANS, LLC 15 4.47% $5,572
USAA Federal Savings Bank 10 3.98% $7,260
RUOFF MORTGAGE COMPANY, INC. 9 5.15% $3,887
GVC MORTGAGE, INC. 8 4.91% $9,224
PENNYMAC LOAN SERVICES, LLC 7 4.04% $6,540
CALIBER HOME LOANS, INC. 7 5.11% $4,114
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.84% $4,735
NEW DAY FINANCIAL, LLC 4 4.71% $7,201
FREEDOM MORTGAGE CORPORATION 3 4.58% $12,953
UNITED WHOLESALE MORTGAGE, LLC 3 3.44% $8,990
BROKER SOLUTIONS, INC. 2 4.88% $4,999
Mid-Continent Funding, Inc. 2 6.44% $6,602
LAKEVIEW LOAN SERVICING, LLC 2 3.63% $1,676
Mr. Cooper ( Nationstar Mortgage ) 2 5.38% $4,014
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $200
The Federal Savings Bank 2 4.50% $20,812
SOUTHWEST STAGE FUNDING, LLC 1 3.38% $0
THRIVE MORTGAGE, LLC 1 6.50% $3,901
Truist 1 4.75% $4,654
UNION HOME MORTGAGE CORP. 1 5.88% $7,284
AMERICAN MORTGAGE SERVICE COMPANY 1 5.50% $7,937
WRIGHT-PATT CREDIT UNION, INC. 1 3.50% $2,984
AMERIFIRST FINANCIAL CORPORATION 1 5.25% $11,127
Barrington Bank & Trust Company, N.A. 1 3.25% $2,152
Carrington Mortgage Services, LLC 1 3.88% $1,793
First Merchants Bank 1 5.13% $1,684
Flagstar Bank, FSB 1 2.75% $5,065
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.50% $6,297
LOANDEPOT.COM, LLC 1 5.63% $14,458
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $7,271
MYCUMORTGAGE, LLC 1 5.00% $2,135
Nations Lending Corporation 1 6.25% $4,637
NAVY FEDERAL CREDIT UNION 1 5.13% $2,000
NEWREZ LLC 1 6.75% $3,522
Northwest Bank 1 4.50% $3,710
OPEN MORTGAGE, LLC 1 3.25% $13,706
PHH Mortgage Corporation 1 5.25% $5,840
Regions Bank 1 5.25% $14,141

The top Muncie VA lender as defined by loan originations is Mortgage Research Center, LLC, with 31 VA loans originated. Their average total fees are $2,749, which is $2,823 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Muncie VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($2,749), QUICKEN LOANS, LLC ($5,572), USAA Federal Savings Bank ($7,260), .

The lowest rate Muncie VA lenders (with over 10 loans originated) are USAA Federal Savings Bank (3.98%), QUICKEN LOANS, LLC (4.47%), Mortgage Research Center, LLC (5.49%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Muncie (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 $74,900 (1.0%) $112,806 (-1.1%) 0.00 363
2018-02-01 $74,900 (7.2%) $117,880 (1.5%) 0.00 348
2018-03-01 $74,900 (4.7%) $126,601 (8.0%) 0.00 330
2018-04-01 $77,444 (6.2%) $142,299 (22.0%) 0.00 313
2018-05-01 $89,925 (23.3%) $146,861 (23.3%) 0.00 346
2018-06-01 $88,194 (11.7%) $143,176 (12.7%) 0.00 369
2018-07-01 $89,900 (11.1%) $141,504 (8.4%) 0.00 387
2018-08-01 $87,322 (4.5%) $142,802 (-1.8%) 0.00 405
2018-09-01 $85,000 (-0.5%) $138,709 (-12.3%) 0.00 435
2018-10-01 $87,925 (4.6%) $140,051 (-11.2%) 0.00 416
2018-11-01 $85,175 (5.7%) $140,101 (-11.1%) 0.00 405
2018-12-01 $79,900 (6.7%) $136,042 (13.8%) 0.00 387
2019-01-01 $79,900 (6.7%) $133,094 (18.0%) 0.00 368
2019-02-01 $79,900 (6.7%) $127,795 (8.4%) 0.00 352
2019-03-01 $82,686 (10.4%) $134,346 (6.1%) 0.00 345
2019-04-01 $87,150 (12.5%) $142,940 (0.5%) 0.00 345
2019-05-01 $98,675 (9.7%) $149,283 (1.7%) 0.00 343
2019-06-01 $105,000 (19.1%) $153,534 (7.2%) 0.00 350
2019-07-01 $107,400 (19.5%) $163,182 (15.3%) 0.00 355
2019-08-01 $118,536 (35.8%) $162,873 (14.1%) 0.00 371
2019-09-01 $116,491 (37.1%) $158,220 (14.1%) 0.00 379
2019-10-01 $113,450 (29.0%) $152,810 (9.1%) 0.00 378
2019-11-01 $109,900 (29.0%) $144,891 (3.4%) 0.00 375
2019-12-01 $99,900 (25.0%) $140,825 (3.5%) 0.00 336
2020-01-01 $100,723 (26.1%) $141,730 (6.5%) 0.00 302
2020-02-01 $94,400 (18.2%) $140,808 (10.2%) 0.00 267
2020-03-01 $90,438 (9.4%) $140,663 (4.7%) 0.00 246
2020-04-01 $81,400 (-6.6%) $137,777 (-3.6%) 0.00 237
2020-05-01 $88,000 (-10.8%) $159,458 (6.8%) 0.00 193
2020-06-01 $81,175 (-22.7%) $159,972 (4.2%) 0.00 161
2020-07-01 $111,425 (3.8%) $178,876 (9.6%) 0.00 146
2020-08-01 $110,000 (-7.2%) $175,809 (7.9%) 0.00 158
2020-09-01 $112,400 (-3.5%) $166,349 (5.1%) 0.00 200
2020-10-01 $103,900 (-8.4%) $157,104 (2.8%) 0.00 236
2020-11-01 $95,525 (-13.1%) $153,051 (5.6%) 0.00 237
2020-12-01 $78,838 (-21.1%) $140,566 (-0.2%) 0.00 205
2021-01-01 $68,950 (-31.5%) $136,035 (-4.0%) 0.00 187
2021-02-01 $63,900 (-32.3%) $139,396 (-1.0%) 0.00 139
2021-03-01 $59,900 (-33.8%) $137,791 (-2.0%) 0.00 115
2021-04-01 $63,475 (-22.0%) $127,887 (-7.2%) 0.00 108
2021-05-01 $67,000 (-23.9%) $132,118 (-17.2%) 0.00 116
2021-06-01 $89,150 (9.8%) $158,170 (-1.1%) 0.00 134
2021-07-01 $115,900 (4.0%) $173,918 (-2.8%) 0.00 169
2021-08-01 $122,450 (11.3%) $172,663 (-1.8%) 0.00 168
2021-09-01 $124,900 (11.1%) $166,224 (-0.1%) 0.00 170
2021-10-01 $119,900 (15.4%) $154,827 (-1.5%) 0.00 163
2021-11-01 $123,700 (29.5%) $153,934 (0.6%) 0.00 144
2021-12-01 $129,900 (64.8%) $163,246 (16.1%) 0.00 135
2022-01-01 $132,900 (92.8%) $153,079 (12.5%) 0.00 115
2022-02-01 $107,500 (68.2%) $145,211 (4.2%) 0.00 74
2022-03-01 $119,450 (99.4%) $161,852 (17.5%) 0.00 82
2022-04-01 $111,250 (75.3%) $163,836 (28.1%) 0.00 91
2022-05-01 $131,250 (95.9%) $180,972 (37.0%) 0.00 108
2022-06-01 $128,900 (44.6%) $192,920 (22.0%) 0.00 133
2022-07-01 $130,000 (12.2%) $202,990 (16.7%) 0.00 149
2022-08-01 $135,000 (10.3%) $202,583 (17.3%) 0.00 157
2022-09-01 $136,975 (9.7%) $191,759 (15.4%) 0.00 170
2022-10-01 $165,375 (37.9%) $195,021 (26.0%) 0.00 182
2022-11-01 $172,450 (39.4%) $199,577 (29.7%) 0.00 186
2022-12-01 $174,250 (34.1%) $198,491 (21.6%) 0.00 152
2023-01-01 $167,400 (26.0%) $188,741 (23.3%) 0.00 122
2023-02-01 $149,500 (39.1%) $191,549 (31.9%) 0.00 103
2023-03-01 $139,975 (17.2%) $196,106 (21.2%) 0.00 89
2023-04-01 $134,950 (21.3%) $196,927 (20.2%) 0.00 91
2023-05-01 $125,925 (-4.1%) $192,490 (6.4%) 0.00 94
2023-06-01 $129,400 (0.4%) $194,018 (0.6%) 0.00 111
2023-07-01 $134,900 (3.8%) $186,569 (-8.1%) 0.00 138
2023-08-01 $152,500 (13.0%) $200,226 (-1.2%) 0.00 151
2023-09-01 $154,950 (13.1%) $189,193 (-1.3%) 0.00 171
2023-10-01 $152,450 (-7.8%) $187,034 (-4.1%) 0.00 182
2023-11-01 $158,975 (-7.8%) $188,300 (-5.7%) 0.00 201
2023-12-01 $152,450 (-12.5%) $189,758 (-4.4%) 0.00 218
Muncie's median listing price for 2023-12-01 was $152,450, a difference of $-21,800 (-12.5%) versus the prior year and $-6,525 versus the prior month.

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

Muncie's average listing price for 2023-12-01 was $189,758, a difference of $-8,733 (-4.4%) versus the prior year and $1,458 versus the prior month.

For the 2023-12-01 period, Muncie had 218 MLS listings, a difference of 17 listings (8%) versus the prior month and 66 listings (43%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Muncie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,522 sqft
2018-02-01 0 days 1,525 sqft
2018-03-01 0 days 1,537 sqft
2018-04-01 0 days 1,580 sqft
2018-05-01 0 days 1,735 sqft
2018-06-01 0 days 1,735 sqft
2018-07-01 0 days 1,722 sqft
2018-08-01 0 days 1,665 sqft
2018-09-01 0 days 1,609 sqft
2018-10-01 0 days 1,612 sqft
2018-11-01 0 days 1,612 sqft
2018-12-01 0 days 1,617 sqft
2019-01-01 0 days 1,527 sqft
2019-02-01 0 days 1,497 sqft
2019-03-01 0 days 1,492 sqft
2019-04-01 0 days 1,527 sqft
2019-05-01 0 days 1,547 sqft
2019-06-01 0 days 1,579 sqft
2019-07-01 0 days 1,611 sqft
2019-08-01 0 days 1,623 sqft
2019-09-01 0 days 1,616 sqft
2019-10-01 0 days 1,610 sqft
2019-11-01 0 days 1,599 sqft
2019-12-01 0 days 1,588 sqft
2020-01-01 0 days 1,569 sqft
2020-02-01 0 days 1,560 sqft
2020-03-01 0 days 1,487 sqft
2020-04-01 0 days 1,458 sqft
2020-05-01 0 days 1,464 sqft
2020-06-01 0 days 1,464 sqft
2020-07-01 0 days 1,584 sqft
2020-08-01 0 days 1,658 sqft
2020-09-01 0 days 1,617 sqft
2020-10-01 0 days 1,567 sqft
2020-11-01 0 days 1,503 sqft
2020-12-01 0 days 1,465 sqft
2021-01-01 0 days 1,407 sqft
2021-02-01 0 days 1,400 sqft
2021-03-01 0 days 1,298 sqft
2021-04-01 0 days 1,357 sqft
2021-05-01 0 days 1,393 sqft
2021-06-01 0 days 1,551 sqft
2021-07-01 0 days 1,632 sqft
2021-08-01 0 days 1,602 sqft
2021-09-01 0 days 1,604 sqft
2021-10-01 0 days 1,594 sqft
2021-11-01 0 days 1,581 sqft
2021-12-01 0 days 1,538 sqft
2022-01-01 0 days 1,584 sqft
2022-02-01 0 days 1,576 sqft
2022-03-01 0 days 1,603 sqft
2022-04-01 0 days 1,694 sqft
2022-05-01 0 days 1,756 sqft
2022-06-01 0 days 1,687 sqft
2022-07-01 0 days 1,680 sqft
2022-08-01 0 days 1,794 sqft
2022-09-01 0 days 1,761 sqft
2022-10-01 0 days 1,733 sqft
2022-11-01 0 days 1,771 sqft
2022-12-01 0 days 1,684 sqft
2023-01-01 0 days 1,609 sqft
2023-02-01 0 days 1,642 sqft
2023-03-01 0 days 1,609 sqft
2023-04-01 0 days 1,728 sqft
2023-05-01 0 days 1,588 sqft
2023-06-01 0 days 1,662 sqft
2023-07-01 0 days 1,580 sqft
2023-08-01 0 days 1,793 sqft
2023-09-01 0 days 1,758 sqft
2023-10-01 0 days 1,798 sqft
2023-11-01 0 days 1,742 sqft
2023-12-01 0 days 1,741 sqft
Muncie's median listing age (time on market) for 2023-12-01 was 0 days.

Muncie's median square footage for active listings during the 2023-12-01 period was 1,741 sqft. One year prior, the average listing was 1,684 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.