Terre Haute VA Loans

TERRE HAUTE, 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 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.