South Bend VA Loan Rates, Closing Costs & Stats
SOUTH BEND-MISHAWAKA, IN-MI
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.
South Bend's 56 lenders originated 319 VA loans during 2022. The total origination value was $70,785,000, with an average VA loan value of $221,897.
South Bend VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in South Bend
averaged
0%
for the week of 2023-11-24, compared to the national average (all VA variants) of
0% for the same period.
South Bend's average VA mortgage closing costs are $4,698.
The average rate for the prior week (2023-11-17) was
7.24% and
one month ago for the week of 2023-10-20, the
average rate was 7.67%.
The average rate one year ago was 6.59%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.04%.
South Bend 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 South Bend level.
The top South Bend VA lender as defined by loan originations is Mortgage Research Center, LLC, with
61 VA loans originated. Their average total fees are
$5,108, which is $2,853
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee South Bend VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($3,262), Mortgage Research Center, LLC ($5,108), USAA Federal Savings Bank ($5,348), RUOFF MORTGAGE COMPANY, INC. ($5,437) and FREEDOM MORTGAGE CORPORATION ($7,730).
The lowest rate South Bend VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.06%), NAVY FEDERAL CREDIT UNION (4.08%), USAA Federal Savings Bank (4.30%), NEW DAY FINANCIAL, LLC (4.50%) and FREEDOM MORTGAGE CORPORATION (4.63%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - South Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $129,900 (23.7%) | $215,859 (11.0%) | 0.48 | 963 |
2018-02-01 | $135,000 (23.1%) | $226,398 (11.9%) | 0.49 | 885 |
2018-03-01 | $139,500 (16.4%) | $237,065 (7.7%) | 0.49 | 827 |
2018-04-01 | $159,900 (23.0%) | $254,892 (7.2%) | 0.54 | 810 |
2018-05-01 | $169,900 (13.3%) | $261,294 (6.4%) | 0.57 | 855 |
2018-06-01 | $170,000 (9.8%) | $263,841 (8.2%) | 0.57 | 936 |
2018-07-01 | $175,725 (17.2%) | $259,678 (10.3%) | 0.59 | 1,027 |
2018-08-01 | $174,700 (17.3%) | $249,956 (8.4%) | 0.59 | 1,084 |
2018-09-01 | $169,000 (16.6%) | $241,650 (5.2%) | 0.57 | 1,119 |
2018-10-01 | $165,000 (13.9%) | $242,330 (4.8%) | 0.56 | 1,104 |
2018-11-01 | $159,900 (12.3%) | $240,862 (6.4%) | 0.54 | 993 |
2018-12-01 | $151,450 (16.5%) | $234,010 (7.9%) | 0.52 | 937 |
2019-01-01 | $154,900 (19.3%) | $232,935 (7.9%) | 0.54 | 830 |
2019-02-01 | $162,400 (20.3%) | $236,581 (4.5%) | 0.55 | 798 |
2019-03-01 | $184,757 (32.4%) | $251,858 (6.2%) | 0.60 | 764 |
2019-04-01 | $209,900 (31.3%) | $272,879 (7.1%) | 0.67 | 743 |
2019-05-01 | $223,675 (31.7%) | $281,719 (7.8%) | 0.70 | 772 |
2019-06-01 | $220,000 (29.4%) | $281,451 (6.7%) | 0.69 | 872 |
2019-07-01 | $218,950 (24.6%) | $284,780 (9.7%) | 0.69 | 927 |
2019-08-01 | $206,791 (18.4%) | $276,066 (10.5%) | 0.66 | 995 |
2019-09-01 | $194,477 (15.1%) | $266,919 (10.5%) | 0.62 | 1,014 |
2019-10-01 | $184,900 (12.1%) | $261,314 (7.8%) | 0.60 | 1,018 |
2019-11-01 | $179,900 (12.5%) | $262,210 (8.9%) | 0.59 | 921 |
2019-12-01 | $174,900 (15.5%) | $258,861 (10.6%) | 0.58 | 849 |
2020-01-01 | $177,450 (14.6%) | $257,988 (10.8%) | 0.59 | 744 |
2020-02-01 | $202,450 (24.7%) | $271,753 (14.9%) | 0.66 | 667 |
2020-03-01 | $224,800 (21.7%) | $289,262 (14.9%) | 0.70 | 663 |
2020-04-01 | $222,875 (6.2%) | $287,825 (5.5%) | 0.70 | 678 |
2020-05-01 | $239,950 (7.3%) | $305,377 (8.4%) | 0.73 | 656 |
2020-06-01 | $257,425 (17.0%) | $317,503 (12.8%) | 0.76 | 589 |
2020-07-01 | $246,250 (12.5%) | $311,270 (9.3%) | 0.71 | 586 |
2020-08-01 | $247,900 (19.9%) | $312,145 (13.1%) | 0.71 | 576 |
2020-09-01 | $249,450 (28.3%) | $312,109 (16.9%) | 0.71 | 528 |
2020-10-01 | $225,000 (21.7%) | $297,683 (13.9%) | 0.64 | 547 |
2020-11-01 | $189,925 (5.6%) | $276,437 (5.4%) | 0.56 | 521 |
2020-12-01 | $183,169 (4.7%) | $262,739 (1.5%) | 0.55 | 477 |
2021-01-01 | $175,000 (-1.4%) | $256,681 (-0.5%) | 0.52 | 416 |
2021-02-01 | $195,950 (-3.2%) | $297,303 (9.4%) | 0.57 | 312 |
2021-03-01 | $232,350 (3.4%) | $334,831 (15.8%) | 0.66 | 275 |
2021-04-01 | $248,475 (11.5%) | $383,009 (33.1%) | 0.67 | 259 |
2021-05-01 | $229,950 (-4.2%) | $345,499 (13.1%) | 0.61 | 302 |
2021-06-01 | $244,950 (-4.9%) | $352,913 (11.2%) | 0.64 | 356 |
2021-07-01 | $234,000 (-5.0%) | $351,458 (12.9%) | 0.62 | 405 |
2021-08-01 | $220,000 (-11.3%) | $357,719 (14.6%) | 0.59 | 433 |
2021-09-01 | $228,250 (-8.5%) | $368,275 (18.0%) | 0.61 | 438 |
2021-10-01 | $223,950 (-0.5%) | $361,805 (21.5%) | 0.60 | 432 |
2021-11-01 | $222,500 (17.2%) | $340,035 (23.0%) | 0.59 | 373 |
2021-12-01 | $224,450 (22.5%) | $329,626 (25.5%) | 0.61 | 310 |
2022-01-01 | $249,900 (42.8%) | $360,616 (40.5%) | 0.68 | 244 |
2022-02-01 | $287,000 (46.5%) | $400,143 (34.6%) | 0.75 | 223 |
2022-03-01 | $249,900 (7.6%) | $386,805 (15.5%) | 0.63 | 242 |
2022-04-01 | $274,900 (10.6%) | $421,405 (10.0%) | 0.66 | 259 |
2022-05-01 | $304,925 (32.6%) | $427,389 (23.7%) | 0.70 | 312 |
2022-06-01 | $283,450 (15.7%) | $424,586 (20.3%) | 0.63 | 382 |
2022-07-01 | $264,950 (13.2%) | $392,242 (11.6%) | 0.60 | 463 |
2022-08-01 | $273,225 (24.2%) | $382,054 (6.8%) | 0.63 | 477 |
2022-09-01 | $279,900 (22.6%) | $397,724 (8.0%) | 0.65 | 491 |
2022-10-01 | $275,000 (22.8%) | $410,430 (13.4%) | 0.65 | 515 |
2022-11-01 | $284,900 (28.0%) | $423,804 (24.6%) | 0.68 | 512 |
2022-12-01 | $277,450 (23.6%) | $412,621 (25.2%) | 0.69 | 476 |
2023-01-01 | $299,738 (19.9%) | $414,787 (15.0%) | 0.74 | 415 |
2023-02-01 | $294,425 (2.6%) | $422,711 (5.6%) | 0.71 | 371 |
2023-03-01 | $319,950 (28.0%) | $445,710 (15.2%) | 0.75 | 346 |
2023-04-01 | $299,950 (9.1%) | $446,537 (6.0%) | 0.70 | 340 |
2023-05-01 | $323,450 (6.1%) | $457,011 (6.9%) | 0.73 | 386 |
2023-06-01 | $292,450 (3.2%) | $434,202 (2.3%) | 0.66 | 417 |
2023-07-01 | $289,900 (9.4%) | $429,712 (9.6%) | 0.66 | 417 |
2023-08-01 | $271,750 (-0.5%) | $398,801 (4.4%) | 0.62 | 454 |
2023-09-01 | $259,900 (-7.2%) | $376,159 (-5.4%) | 0.61 | 520 |
2023-10-01 | $252,475 (-8.2%) | $368,878 (-10.1%) | 0.59 | 583 |
South Bend's median listing price comes in at 59% of the national average.
South Bend's average listing price for 2023-10-01 was $368,878, a difference of $-41,552 (-10.1%) versus the prior year and $-7,281 versus the prior month.
For the 2023-10-01 period, South Bend had 583 MLS listings, a difference of 63 listings (12%) versus the prior month and 68 listings (13%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - South Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 87 days | 1,632 sqft |
2018-02-01 | 90 days | 1,615 sqft |
2018-03-01 | 66 days | 1,636 sqft |
2018-04-01 | 55 days | 1,706 sqft |
2018-05-01 | 43 days | 1,730 sqft |
2018-06-01 | 40 days | 1,772 sqft |
2018-07-01 | 44 days | 1,794 sqft |
2018-08-01 | 46 days | 1,782 sqft |
2018-09-01 | 51 days | 1,750 sqft |
2018-10-01 | 60 days | 1,746 sqft |
2018-11-01 | 70 days | 1,738 sqft |
2018-12-01 | 74 days | 1,700 sqft |
2019-01-01 | 80 days | 1,696 sqft |
2019-02-01 | 76 days | 1,721 sqft |
2019-03-01 | 65 days | 1,771 sqft |
2019-04-01 | 51 days | 1,824 sqft |
2019-05-01 | 47 days | 1,903 sqft |
2019-06-01 | 45 days | 1,938 sqft |
2019-07-01 | 48 days | 1,920 sqft |
2019-08-01 | 50 days | 1,886 sqft |
2019-09-01 | 54 days | 1,838 sqft |
2019-10-01 | 57 days | 1,800 sqft |
2019-11-01 | 65 days | 1,729 sqft |
2019-12-01 | 76 days | 1,725 sqft |
2020-01-01 | 84 days | 1,709 sqft |
2020-02-01 | 81 days | 1,803 sqft |
2020-03-01 | 57 days | 1,813 sqft |
2020-04-01 | 56 days | 1,789 sqft |
2020-05-01 | 61 days | 1,830 sqft |
2020-06-01 | 58 days | 1,941 sqft |
2020-07-01 | 47 days | 1,900 sqft |
2020-08-01 | 47 days | 1,920 sqft |
2020-09-01 | 47 days | 1,985 sqft |
2020-10-01 | 41 days | 1,868 sqft |
2020-11-01 | 45 days | 1,737 sqft |
2020-12-01 | 51 days | 1,624 sqft |
2021-01-01 | 61 days | 1,620 sqft |
2021-02-01 | 66 days | 1,632 sqft |
2021-03-01 | 40 days | 1,648 sqft |
2021-04-01 | 33 days | 1,725 sqft |
2021-05-01 | 25 days | 1,663 sqft |
2021-06-01 | 24 days | 1,788 sqft |
2021-07-01 | 30 days | 1,800 sqft |
2021-08-01 | 32 days | 1,722 sqft |
2021-09-01 | 36 days | 1,663 sqft |
2021-10-01 | 38 days | 1,656 sqft |
2021-11-01 | 47 days | 1,647 sqft |
2021-12-01 | 58 days | 1,655 sqft |
2022-01-01 | 58 days | 1,820 sqft |
2022-02-01 | 39 days | 1,835 sqft |
2022-03-01 | 30 days | 1,800 sqft |
2022-04-01 | 26 days | 1,826 sqft |
2022-05-01 | 19 days | 1,872 sqft |
2022-06-01 | 24 days | 1,898 sqft |
2022-07-01 | 25 days | 1,900 sqft |
2022-08-01 | 32 days | 1,862 sqft |
2022-09-01 | 36 days | 1,838 sqft |
2022-10-01 | 36 days | 1,846 sqft |
2022-11-01 | 43 days | 1,811 sqft |
2022-12-01 | 52 days | 1,800 sqft |
2023-01-01 | 65 days | 1,806 sqft |
2023-02-01 | 63 days | 1,767 sqft |
2023-03-01 | 53 days | 1,833 sqft |
2023-04-01 | 36 days | 1,800 sqft |
2023-05-01 | 30 days | 1,833 sqft |
2023-06-01 | 32 days | 1,808 sqft |
2023-07-01 | 37 days | 1,833 sqft |
2023-08-01 | 35 days | 1,764 sqft |
2023-09-01 | 37 days | 1,691 sqft |
2023-10-01 | 37 days | 1,725 sqft |
South Bend's median square footage for active listings during the 2023-10-01 period was 1,725 sqft. One year prior, the average listing was 1,846 sqft.