South Bend VA Loan Rates, Closing Costs & Stats

SOUTH BEND-MISHAWAKA, IN-MI

  • 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.

    South Bend's 60 lenders originated 328 VA loans during 2024. The total origination value was $86,530,000, with an average VA loan value of $263,811.

    South Bend VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in South Bend averaged 7.24% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    South Bend's average VA mortgage closing costs are $5,202.

    The average rate for the prior week (2025-05-16) was 7.13% and one month ago for the week of 2025-04-18, the average rate was 6.9%.

    The average rate one year ago was 7.11%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.99%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 82 6.38% $4,827
    QUICKEN LOANS, LLC 26 6.27% $9,831
    FREEDOM MORTGAGE CORPORATION 23 6.27% $7,726
    UNITED WHOLESALE MORTGAGE, LLC 22 5.87% $6,128
    HALLMARK HOME MORTGAGE, LLC 19 6.67% $9,806
    NAVY FEDERAL CREDIT UNION 14 5.80% $5,581
    RUOFF MORTGAGE COMPANY, INC. 13 6.41% $7,225
    NEW DAY FINANCIAL, LLC 8 7.68% $8,881
    PENNYMAC LOAN SERVICES, LLC 8 5.66% $7,236
    UNION HOME MORTGAGE CORP. 7 6.45% $7,761
    CARDINAL FINANCIAL 7 6.89% $6,460
    VILLAGE CAPITAL MORTGAGE 5 5.85% $5,546
    GUARANTEED RATE, INC. 4 6.44% $5,050
    LOANDEPOT.COM, LLC 4 6.28% $5,885
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.08% $12,085
    The Federal Savings Bank 3 6.54% $12,741
    USAA Federal Savings Bank 3 5.79% $5,822
    JPMorgan Chase Bank 3 6.00% $7,684
    CROSSCOUNTRY MORTGAGE, LLC 3 6.21% $5,372
    CHURCHILL MORTGAGE CORPORATION 2 7.00% $4,996
    TEACHERS CREDIT UNION 2 6.44% $3,402
    AMERISAVE MORTGAGE CORPORATION 2 6.31% $12,284
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $2,960
    Carrington Mortgage Services, LLC 2 5.75% $14,652
    CLEARPATH LENDING 2 6.19% $6,599
    LAKEVIEW LOAN SERVICING, LLC 2 5.25% $5,706
    LAKE MICHIGAN CREDIT UNION 2 6.38% $8,115
    NEWREZ LLC 2 6.00% $4,577
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.63% $16,988
    Barrington Bank & Trust Company, N.A. 2 6.25% $5,816
    The Dart Bank 1 6.13% $3,935
    AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $7,900
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $29,894
    AMERICAN FINANCING CORPORATION 1 4.99% $37,613
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $27,062
    AmeriHome Mortgage Company, LLC 1 5.99% $3,389
    BROKER SOLUTIONS, INC. 1 7.25% $8,262
    CMG MORTGAGE, INC. 1 5.99% $15,813
    CONTOUR MORTGAGE CORPORATION 1 7.13% $4,863
    Credence Funding Corporation 1 5.88% $5,172
    Fifth Third Bank 1 6.38% $6,121
    First Federal Bank 1 6.00% $9,038
    Flagstar Bank, FSB 1 5.00% $4,273
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $12,818
    GVC MORTGAGE, INC. 1 6.75% $4,697
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $2,499
    Horizon Bank 1 6.63% $1,283
    Ixonia Bank 1 7.00% $14,746
    Magnolia Bank 1 5.88% $12,045
    Mid-Continent Funding, Inc. 1 6.00% $1,031
    MOVEMENT MORTGAGE, LLC 1 6.25% $10,568
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $6,387
    PHH Mortgage Corporation 1 7.13% $4,606
    PLAZA HOME MORTGAGE, INC. 1 6.49% $8,042
    PNC Bank 1 6.25% $1,259
    Regions Bank 1 7.13% $19,831
    ROYAL UNITED MORTGAGE LLC 1 6.75% $15,778
    1st Source Bank 1 6.75% $4,348
    Truist 1 6.13% $5,242
    VAN DYK MORTGAGE CORPORATION 1 6.63% $8,892

    The top South Bend VA lender as defined by loan originations is Mortgage Research Center, LLC, with 82 VA loans originated. Their average total fees are $4,827, which is $5,004 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee South Bend VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,827), NAVY FEDERAL CREDIT UNION ($5,581), UNITED WHOLESALE MORTGAGE, LLC ($6,128), RUOFF MORTGAGE COMPANY, INC. ($7,225) and FREEDOM MORTGAGE CORPORATION ($7,726).

    The lowest rate South Bend VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.80%), UNITED WHOLESALE MORTGAGE, LLC (5.87%), QUICKEN LOANS, LLC (6.27%), FREEDOM MORTGAGE CORPORATION (6.27%) and Mortgage Research Center, LLC (6.38%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - South Bend (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 $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 $223,450 (31.5%) $281,613 (7.8%) 0.70 771
    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%) 0.65 995
    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 (7.4%) $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%) 0.54 477
    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%) 0.65 514
    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%) $434,702 (2.4%) 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
    2023-11-01 $234,900 (-17.6%) $353,830 (-16.5%) 0.56 593
    2023-12-01 $220,000 (-20.7%) $344,957 (-16.4%) 0.54 551
    2024-01-01 $212,425 (-29.1%) $343,894 (-17.1%) 0.52 501
    2024-02-01 $225,000 (-23.6%) $361,435 (-14.5%) 0.54 469
    2024-03-01 $239,000 (-25.3%) $367,545 (-17.5%) 0.56 462
    2024-04-01 $269,450 (-10.2%) $388,301 (-13.0%) 0.63 472
    2024-05-01 $291,365 (-9.9%) $408,501 (-10.6%) 0.66 471
    2024-06-01 $299,000 (2.2%) $408,777 (-6.0%) 0.68 511
    2024-07-01 $281,750 (-2.8%) $386,647 (-10.0%) 0.64 609
    2024-08-01 $265,900 (-2.2%) $368,583 (-7.6%) 0.62 717
    2024-09-01 $263,725 (1.5%) $364,718 (-3.0%) 0.62 752
    2024-10-01 $263,125 (4.2%) $355,919 (-3.5%) 0.62 779
    2024-11-01 $247,900 (5.5%) $342,239 (-3.3%) 0.60 818
    2024-12-01 $229,950 (4.5%) $320,247 (-7.2%) 0.57 703
    2025-01-01 $234,950 (10.6%) $331,005 (-3.8%) 0.59 648
    2025-02-01 $236,975 (5.3%) $335,711 (-7.1%) 0.58 591
    2025-03-01 $249,000 (4.2%) $384,337 (4.6%) 0.59 561
    2025-04-01 $260,475 (-3.3%) $401,421 (3.4%) 0.60 583
    South Bend's median listing price for 2025-04-01 was $260,475, a difference of $-8,975 (-3.3%) versus the prior year and $11,475 versus the prior month.

    South Bend's median listing price comes in at 60% of the national average.

    South Bend's average listing price for 2025-04-01 was $401,421, a difference of $13,120 (3.4%) versus the prior year and $17,084 versus the prior month.

    For the 2025-04-01 period, South Bend had 583 MLS listings, a difference of 22 listings (4%) versus the prior month and 111 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - South Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 1,783 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 1,900 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 55 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 1,711 sqft
    2020-02-01 81 days 1,804 sqft
    2020-03-01 57 days 1,814 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 1,646 sqft
    2021-12-01 58 days 1,654 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 1,847 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 1,809 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
    2023-11-01 45 days 1,684 sqft
    2023-12-01 57 days 1,621 sqft
    2024-01-01 60 days 1,595 sqft
    2024-02-01 59 days 1,600 sqft
    2024-03-01 45 days 1,615 sqft
    2024-04-01 38 days 1,690 sqft
    2024-05-01 37 days 1,707 sqft
    2024-06-01 40 days 1,786 sqft
    2024-07-01 36 days 1,738 sqft
    2024-08-01 36 days 1,728 sqft
    2024-09-01 43 days 1,728 sqft
    2024-10-01 46 days 1,717 sqft
    2024-11-01 49 days 1,680 sqft
    2024-12-01 55 days 1,637 sqft
    2025-01-01 64 days 1,659 sqft
    2025-02-01 66 days 1,652 sqft
    2025-03-01 55 days 1,650 sqft
    2025-04-01 43 days 1,696 sqft
    South Bend's median listing age (time on market) for 2025-04-01 was 43 days. This is 15% longer than the same period one year ago.

    South Bend's median square footage for active listings during the 2025-04-01 period was 1,696 sqft. One year prior, the average listing was 1,690 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.