Muncie VA Loan Rates, Closing Costs & Stats

MUNCIE, 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.

    Muncie's 30 lenders originated 99 VA loans during 2023. The total origination value was $20,465,000, with an average VA loan value of $206,717.

    Muncie VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Muncie averaged 7.44% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Muncie's average VA mortgage closing costs are $4,118.

    The average rate for the prior week (2024-04-12) was 7.07% and one month ago for the week of 2024-03-15, the average rate was 6.73%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.84%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 23 6.91% $3,534
    RUOFF MORTGAGE COMPANY, INC. 9 7.08% $3,013
    QUICKEN LOANS, LLC 6 6.62% $9,834
    CALIBER HOME LOANS, INC. 6 6.42% $4,260
    NEW DAY FINANCIAL, LLC 5 7.72% $11,937
    NAVY FEDERAL CREDIT UNION 5 5.78% $7,103
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.25% $3,877
    GVC MORTGAGE, INC. 4 7.19% $3,903
    PENNYMAC LOAN SERVICES, LLC 3 5.75% $7,335
    UNITED WHOLESALE MORTGAGE, LLC 3 6.87% $16,733
    NEWREZ LLC 3 7.38% $1,361
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $16,815
    Barrington Bank & Trust Company, N.A. 2 6.50% $10,155
    HALLMARK HOME MORTGAGE, LLC 2 7.44% $3,235
    NBKC BANK 1 6.38% $2,731
    MJW Financial LLC 1 5.25% $3,555
    Mid-Continent Funding, Inc. 1 6.38% $8,185
    Northwest Bank 1 6.13% $10,365
    FREEDOM MORTGAGE CORPORATION 1 6.38% $7,312
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $24,047
    PLAZA HOME MORTGAGE, INC. 1 7.25% $2,867
    Prosperity Home Mortgage, LLC 1 6.63% $1,604
    ENDEAVOR CAPITAL, LLC. 1 6.50% $2,455
    Cincinnati Federal 1 6.00% $2,520
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $12,216
    The Federal Savings Bank 1 5.75% $10,604
    THRIVE MORTGAGE, LLC 1 6.13% $3,356
    UNITED HOME LOANS, INC. 1 7.50% $2,039
    BROKER SOLUTIONS, INC. 1 7.13% $2,438
    VILLAGE CAPITAL MORTGAGE 1 6.25% $3,039

    The top Muncie VA lender as defined by loan originations is Mortgage Research Center, LLC, with 23 VA loans originated. Their average total fees are $3,534, which is $521 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

    The lowest fee Muncie VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,534), .

    The lowest rate Muncie VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.91%), .

    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
    2024-01-01 $163,450 (-2.4%) $199,008 (5.4%) 0.00 200
    2024-02-01 $161,200 (7.8%) $195,946 (2.3%) 0.00 185
    2024-03-01 $163,450 (16.8%) $193,472 (-1.3%) 0.00 168
    Muncie's median listing price for 2024-03-01 was $163,450, a difference of $23,475 (16.8%) versus the prior year and $2,250 versus the prior month.

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

    Muncie's average listing price for 2024-03-01 was $193,472, a difference of $-2,634 (-1.3%) versus the prior year and $-2,474 versus the prior month.

    For the 2024-03-01 period, Muncie had 168 MLS listings, a difference of -17 listings (-9%) versus the prior month and 79 listings (89%) 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
    2024-01-01 0 days 1,802 sqft
    2024-02-01 0 days 1,750 sqft
    2024-03-01 0 days 1,695 sqft
    Muncie's median listing age (time on market) for 2024-03-01 was 0 days.

    Muncie's median square footage for active listings during the 2024-03-01 period was 1,695 sqft. One year prior, the average listing was 1,609 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.