Terre Haute VA Loans

TERRE HAUTE, 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 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.

    Terre Haute's 56 lenders originated 413 VA loans during 2021. The total origination value was $70,735,000, with an average VA loan value of $171,271.

    Terre Haute VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Terre Haute averaged 5.7% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.73% and one month ago for the week of 2022-04-08, the average rate was 5.05%.

    The average rate one year ago was 3.06%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.54%.

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

    Terre Haute VA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Terre Haute level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 84 2.93% $3,749
    RUOFF MORTGAGE COMPANY, INC. 39 3.27% $4,473
    FREEDOM MORTGAGE CORPORATION 36 2.63% $1,995
    QUICKEN LOANS, LLC 34 2.60% $4,271
    PENNYMAC LOAN SERVICES, LLC 16 2.84% $3,779
    NEW DAY FINANCIAL, LLC 15 2.50% $4,443
    USAA Federal Savings Bank 9 3.03% $1,733
    Barrington Bank & Trust Company, N.A. 8 2.51% $3,920
    LOANDEPOT.COM, LLC 8 3.09% $5,017
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 3.25% $4,602
    NAVY FEDERAL CREDIT UNION 7 2.59% $2,610
    Fifth Third Bank 7 2.95% $3,680
    Wolfe Financial, Inc 7 2.82% $3,592
    VILLAGE CAPITAL & INVESTMENT LLC 6 2.54% $2,463
    CALIBER HOME LOANS, INC. 6 3.33% $3,924
    Wells Fargo Bank 5 2.68% $1,708
    CLEARPATH LENDING 4 2.38% $3,868
    The Federal Savings Bank 4 2.63% $4,166
    Mr. Cooper ( Nationstar Mortgage ) 3 3.00% $3,376
    The Huntington National Bank 2 2.94% $1,841
    AMERIFIRST FINANCIAL CORPORATION 2 2.94% $4,785
    GVC MORTGAGE, INC. 2 2.94% $6,242
    LAKEVIEW LOAN SERVICING, LLC 2 2.75% $2,725
    Low VA Rates, LLC 2 2.63% $3,006
    Magnolia Bank 2 3.44% $4,582
    UNION HOME MORTGAGE CORP. 2 2.88% $4,195
    UNITED WHOLESALE MORTGAGE, LLC 2 2.47% $5,312
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $6,173
    Mid-Continent Funding, Inc. 1 3.38% $5,732
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $2,133
    LOANPAL, LLC 1 2.88% $5,569
    NBKC BANK 1 2.75% $667
    HOME POINT FINANCIAL CORPORATION 1 2.25% $8,233
    NEWREZ LLC 1 2.99% $1,535
    NP, Inc. 1 2.38% $2,275
    OPEN MORTGAGE, LLC 1 2.75% $4,819
    Paramount Residential Mortgage Group, Inc. 1 3.50% $9,724
    HALLMARK HOME MORTGAGE, LLC 1 3.00% $2,539
    PENTAGON FEDERAL CREDIT UNION 1 2.25% $2,286
    PHH Mortgage Corporation 1 3.88% $1,433
    PNC Bank 1 2.88% $6,133
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $5,942
    Flagstar Bank, FSB 1 3.63% $4,589
    First Internet Bank of Indiana 1 2.75% $4,812
    ROYAL UNITED MORTGAGE LLC 1 3.63% $1,422
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $9,548
    SOUTHWEST FUNDING, LP 1 3.75% $4,937
    Carrington Mortgage Services, LLC 1 4.75% $3,676
    AMCAP MORTGAGE, LTD. 1 3.25% $17,323
    AMERICAN FINANCING CORPORATION 1 2.38% $3,497
    AMERICAN FINANCIAL NETWORK, INC. 1 2.25% $6,356
    UNIVERSITY LENDING GROUP, LLC 1 3.13% $7,701
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.38% $6,218
    AMERICAN MORTGAGE SERVICE COMPANY 1 3.13% $2,704
    MORTGAGE MASTERS OF INDIANA, INC. 1 3.25% $948
    MILESTONE HOME LENDING, LLC 1 3.75% $2,665

    The top Terre Haute VA lender as defined by loan originations is Mortgage Research Center, LLC, with 84 VA loans originated. Their average total fees are $3,749, which is $724 lower than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

    The lowest fee Terre Haute VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,995), Mortgage Research Center, LLC ($3,749), PENNYMAC LOAN SERVICES, LLC ($3,779), QUICKEN LOANS, LLC ($4,271) and NEW DAY FINANCIAL, LLC ($4,443).

    The lowest rate Terre Haute VA lenders (with over 10 loans originated) are NEW DAY FINANCIAL, LLC (2.50%), QUICKEN LOANS, LLC (2.60%), FREEDOM MORTGAGE CORPORATION (2.63%), PENNYMAC LOAN SERVICES, LLC (2.84%) and Mortgage Research Center, LLC (2.93%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Terre Haute (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 $79,900 (-5.9%) $133,624 (9.1%) 0.29 553
    2018-02-01 $79,900 (-1.8%) $137,929 (13.8%) 0.29 523
    2018-03-01 $82,000 (-3.4%) $146,134 (18.1%) 0.28 461
    2018-04-01 $89,700 (2.5%) $147,878 (16.5%) 0.30 488
    2018-05-01 $91,700 (2.0%) $140,448 (3.4%) 0.31 481
    2018-06-01 $99,900 (10.5%) $147,274 (6.6%) 0.33 534
    2018-07-01 $109,900 (22.3%) $147,032 (4.5%) 0.37 533
    2018-08-01 $113,900 (26.7%) $147,923 (3.8%) 0.38 528
    2018-09-01 $109,900 (22.3%) $143,764 (-0.2%) 0.37 587
    2018-10-01 $104,950 (17.3%) $142,509 (2.9%) 0.35 592
    2018-11-01 $105,000 (25.1%) $140,940 (7.5%) 0.35 570
    2018-12-01 $96,500 (12.2%) $136,973 (2.7%) 0.33 541
    2019-01-01 $94,950 (18.8%) $133,350 (-0.2%) 0.33 531
    2019-02-01 $90,500 (13.3%) $135,757 (-1.6%) 0.30 486
    2019-03-01 $88,929 (8.5%) $136,519 (-6.6%) 0.29 452
    2019-04-01 $88,879 (-0.9%) $142,216 (-3.8%) 0.28 422
    2019-05-01 $87,400 (-4.7%) $143,807 (2.4%) 0.27 427
    2019-06-01 $88,900 (-11.0%) $147,419 (0.1%) 0.27 476
    2019-07-01 $95,000 (-13.6%) $149,934 (2.0%) 0.30 493
    2019-08-01 $96,714 (-15.1%) $149,264 (0.9%) 0.30 507
    2019-09-01 $96,664 (-12.0%) $147,501 (2.6%) 0.31 523
    2019-10-01 $95,400 (-9.1%) $142,689 (0.1%) 0.30 546
    2019-11-01 $89,900 (-14.4%) $138,782 (-1.5%) 0.29 515
    2019-12-01 $88,000 (-8.8%) $134,097 (-2.1%) 0.29 484
    2020-01-01 $90,075 (-5.1%) $139,413 (4.6%) 0.30 493
    2020-02-01 $94,900 (4.9%) $138,796 (2.2%) 0.31 527
    2020-03-01 $91,900 (3.3%) $141,745 (3.8%) 0.29 447
    2020-04-01 $93,700 (5.4%) $143,530 (0.9%) 0.29 415
    2020-05-01 $100,000 (14.4%) $161,088 (12.0%) 0.30 369
    2020-06-01 $112,200 (26.2%) $164,857 (11.8%) 0.33 355
    2020-07-01 $132,450 (39.4%) $180,362 (20.3%) 0.38 334
    2020-08-01 $114,900 (18.8%) $180,574 (21.0%) 0.33 345
    2020-09-01 $119,900 (24.0%) $173,223 (17.4%) 0.34 337
    2020-10-01 $119,900 (25.7%) $175,089 (22.7%) 0.34 302
    2020-11-01 $99,500 (10.7%) $170,306 (22.7%) 0.28 330
    2020-12-01 $98,250 (11.7%) $168,237 (25.5%) 0.29 307
    2021-01-01 $89,900 (-0.2%) $165,927 (19.0%) 0.26 267
    2021-02-01 $97,500 (2.7%) $168,096 (21.1%) 0.28 218
    2021-03-01 $99,250 (8.0%) $162,316 (14.5%) 0.28 212
    2021-04-01 $124,200 (32.6%) $180,429 (25.7%) 0.33 187
    2021-05-01 $129,900 (29.9%) $190,178 (18.1%) 0.34 199
    2021-06-01 $127,400 (13.6%) $185,924 (12.8%) 0.33 245
    2021-07-01 $121,500 (-8.3%) $180,005 (-0.2%) 0.32 270
    2021-08-01 $134,900 (17.4%) $196,268 (8.7%) 0.35 289
    2021-09-01 $127,200 (6.1%) $192,433 (11.1%) 0.33 325
    2021-10-01 $129,900 (8.3%) $194,078 (10.9%) 0.34 305
    2021-11-01 $127,900 (28.5%) $194,906 (14.4%) 0.34 268
    2021-12-01 $117,450 (19.5%) $192,078 (14.2%) 0.31 227
    2022-01-01 $109,900 (22.3%) $175,794 (6.0%) 0.29 199
    2022-02-01 $104,900 (7.6%) $162,829 (-3.1%) 0.27 174
    2022-03-01 $127,150 (28.1%) $156,155 (-3.8%) 0.31 172
    2022-04-01 $119,000 (-4.2%) $160,723 (-10.9%) 0.28 171
    Terre Haute's median listing price for 2022-04-01 was $119,000, a difference of $-5,200 (-4.2%) versus the prior year and $-8,150 versus the prior month.

    Terre Haute's median listing price comes in at 28% of the national average.

    Terre Haute's average listing price for 2022-04-01 was $160,723, a difference of $-19,706 (-10.9%) versus the prior year and $4,568 versus the prior month.

    For the 2022-04-01 period, Terre Haute had 171 MLS listings, a difference of -1 listings (-1%) versus the prior month and -16 listings (-9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Terre Haute (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,542 sqft
    2018-02-01 88 days 1,532 sqft
    2018-03-01 86 days 1,567 sqft
    2018-04-01 60 days 1,693 sqft
    2018-05-01 61 days 1,672 sqft
    2018-06-01 57 days 1,672 sqft
    2018-07-01 58 days 1,673 sqft
    2018-08-01 62 days 1,726 sqft
    2018-09-01 57 days 1,726 sqft
    2018-10-01 64 days 1,756 sqft
    2018-11-01 69 days 1,705 sqft
    2018-12-01 75 days 1,668 sqft
    2019-01-01 84 days 1,653 sqft
    2019-02-01 88 days 1,619 sqft
    2019-03-01 69 days 1,634 sqft
    2019-04-01 55 days 1,661 sqft
    2019-05-01 57 days 1,624 sqft
    2019-06-01 52 days 1,599 sqft
    2019-07-01 56 days 1,599 sqft
    2019-08-01 64 days 1,599 sqft
    2019-09-01 64 days 1,599 sqft
    2019-10-01 66 days 1,592 sqft
    2019-11-01 71 days 1,568 sqft
    2019-12-01 81 days 1,542 sqft
    2020-01-01 81 days 1,554 sqft
    2020-02-01 80 days 1,524 sqft
    2020-03-01 60 days 1,488 sqft
    2020-04-01 67 days 1,493 sqft
    2020-05-01 81 days 1,562 sqft
    2020-06-01 83 days 1,599 sqft
    2020-07-01 64 days 1,599 sqft
    2020-08-01 59 days 1,598 sqft
    2020-09-01 53 days 1,578 sqft
    2020-10-01 59 days 1,593 sqft
    2020-11-01 55 days 1,599 sqft
    2020-12-01 60 days 1,584 sqft
    2021-01-01 79 days 1,512 sqft
    2021-02-01 89 days 1,539 sqft
    2021-03-01 78 days 1,500 sqft
    2021-04-01 68 days 1,599 sqft
    2021-05-01 49 days 1,599 sqft
    2021-06-01 34 days 1,601 sqft
    2021-07-01 38 days 1,607 sqft
    2021-08-01 44 days 1,686 sqft
    2021-09-01 45 days 1,664 sqft
    2021-10-01 50 days 1,599 sqft
    2021-11-01 52 days 1,512 sqft
    2021-12-01 64 days 1,511 sqft
    2022-01-01 69 days 1,488 sqft
    2022-02-01 72 days 1,522 sqft
    2022-03-01 44 days 1,484 sqft
    2022-04-01 43 days 1,536 sqft
    Terre Haute's median listing age (time on market) for 2022-04-01 was 43 days. This is -37% shorter than the same period one year ago.

    Terre Haute's median square footage for active listings during the 2022-04-01 period was 1,536 sqft. One year prior, the average listing was 1,599 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.