Terre Haute VA Loan Rates, Closing Costs & Stats

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 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.

Terre Haute's 39 lenders originated 185 VA loans during 2023. The total origination value was $38,795,000, with an average VA loan value of $209,703.

Terre Haute VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Terre Haute averaged 6.81% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Terre Haute's average VA mortgage closing costs are $4,246.

The average rate for the prior week (2024-06-07) was 6.78% and one month ago for the week of 2024-05-10, the average rate was 7.19%.

The average rate one year ago was 6.83%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.97%.

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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Terre Haute level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 51 6.93% $3,483
RUOFF MORTGAGE COMPANY, INC. 20 6.96% $4,255
MOVEMENT MORTGAGE, LLC 14 6.96% $5,711
QUICKEN LOANS, LLC 11 6.71% $7,100
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.99% $6,560
NAVY FEDERAL CREDIT UNION 6 5.92% $2,610
FREEDOM MORTGAGE CORPORATION 6 7.15% $11,577
Wolfe Financial, Inc 5 7.63% $5,755
Fifth Third Bank 5 6.03% $2,404
NEW DAY FINANCIAL, LLC 5 7.85% $14,248
Barrington Bank & Trust Company, N.A. 5 6.30% $13,619
UNITED WHOLESALE MORTGAGE, LLC 4 5.80% $8,406
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.83% $1,278
USAA Federal Savings Bank 3 6.92% $2,384
LOANDEPOT.COM, LLC 2 6.38% $7,667
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $8,517
NEWREZ LLC 2 6.25% $7,320
PENNYMAC LOAN SERVICES, LLC 2 5.44% $3,467
BROKER SOLUTIONS, INC. 2 7.19% $9,714
AMERISAVE MORTGAGE CORPORATION 2 4.94% $17,759
GVC MORTGAGE, INC. 1 6.25% $1,100
LOANPAL, LLC 1 5.63% $10,863
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $20,224
GUARANTEED RATE, INC. 1 6.75% $110
NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $1,585
Flagstar Bank, FSB 1 6.75% $7,682
University Bank 1 6.25% $4,214
Paramount Residential Mortgage Group, Inc. 1 7.25% $2,080
AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $4,680
CARDINAL FINANCIAL 1 7.25% $8,915
Wells Fargo Bank 1 6.63% $1,554
STOCKTON MORTGAGE CORPORATION 1 6.25% $5,125
The Federal Savings Bank 1 6.38% $15,709
UNION HOME MORTGAGE CORP. 1 7.25% $2,963
Magnolia Bank 1 6.75% $22,507
MJW Financial LLC 1 7.75% $14,387
MORTGAGE MASTERS OF INDIANA, INC. 1 6.13% $7,326
HALLMARK HOME MORTGAGE, LLC 1 7.25% $4,243
1ST SIGNATURE LENDING, LLC 1 6.63% $7,908

The top Terre Haute VA lender as defined by loan originations is Mortgage Research Center, LLC, with 51 VA loans originated. Their average total fees are $3,483, which is $771 lower than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Terre Haute VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,483), RUOFF MORTGAGE COMPANY, INC. ($4,255), MOVEMENT MORTGAGE, LLC ($5,711), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,560) and QUICKEN LOANS, LLC ($7,100).

The lowest rate Terre Haute VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.71%), Mortgage Research Center, LLC (6.93%), RUOFF MORTGAGE COMPANY, INC. (6.96%), MOVEMENT MORTGAGE, LLC (6.96%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.99%).


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 $79,800 (-4.7%) $126,051 (2.6%) 0.30 554
2018-02-01 $79,900 (-1.8%) $132,013 (7.6%) 0.29 526
2018-03-01 $79,900 (-8.3%) $140,259 (9.9%) 0.28 480
2018-04-01 $91,750 (2.1%) $148,714 (13.2%) 0.31 498
2018-05-01 $94,850 (4.9%) $142,239 (2.9%) 0.32 499
2018-06-01 $109,900 (13.3%) $149,697 (5.8%) 0.37 533
2018-07-01 $110,975 (16.8%) $149,879 (5.0%) 0.37 553
2018-08-01 $111,600 (17.6%) $148,076 (3.1%) 0.37 551
2018-09-01 $109,700 (21.9%) $144,448 (0.6%) 0.37 605
2018-10-01 $105,575 (16.7%) $145,668 (6.0%) 0.36 628
2018-11-01 $104,925 (23.8%) $143,753 (10.3%) 0.36 614
2018-12-01 $95,000 (18.9%) $139,082 (9.6%) 0.33 583
2019-01-01 $92,925 (16.5%) $134,505 (6.7%) 0.32 564
2019-02-01 $90,725 (13.6%) $137,631 (4.3%) 0.31 521
2019-03-01 $91,929 (15.1%) $140,597 (0.2%) 0.30 487
2019-04-01 $95,914 (4.5%) $146,261 (-1.7%) 0.30 472
2019-05-01 $94,975 (0.1%) $151,676 (6.6%) 0.30 474
2019-06-01 $94,900 (-13.7%) $153,392 (2.5%) 0.30 527
2019-07-01 $105,675 (-4.8%) $159,905 (6.7%) 0.33 545
2019-08-01 $103,936 (-6.9%) $157,494 (6.4%) 0.33 562
2019-09-01 $101,666 (-7.3%) $154,748 (7.1%) 0.33 585
2019-10-01 $99,900 (-5.4%) $152,152 (4.5%) 0.32 599
2019-11-01 $94,900 (-9.6%) $147,804 (2.8%) 0.31 560
2019-12-01 $89,900 (-5.4%) $144,461 (3.9%) 0.30 522
2020-01-01 $96,200 (3.5%) $148,288 (10.3%) 0.32 529
2020-02-01 $99,500 (9.7%) $147,828 (7.4%) 0.33 558
2020-03-01 $99,800 (8.6%) $151,643 (7.9%) 0.31 480
2020-04-01 $99,900 (4.2%) $153,479 (4.9%) 0.31 447
2020-05-01 $109,900 (15.7%) $168,431 (11.1%) 0.33 400
2020-06-01 $116,100 (22.3%) $173,360 (13.0%) 0.34 392
2020-07-01 $136,725 (29.4%) $185,834 (16.2%) 0.40 366
2020-08-01 $122,000 (17.4%) $185,212 (17.6%) 0.35 369
2020-09-01 $120,000 (18.0%) $178,844 (15.6%) 0.34 363
2020-10-01 $119,950 (20.1%) $183,591 (20.7%) 0.34 321
2020-11-01 $109,925 (15.8%) $184,979 (25.2%) 0.32 320
2020-12-01 $102,450 (14.0%) $181,832 (25.9%) 0.30 299
2021-01-01 $99,900 (3.9%) $179,885 (21.3%) 0.30 262
2021-02-01 $117,450 (18.0%) $179,146 (21.2%) 0.34 227
2021-03-01 $118,600 (18.8%) $179,358 (18.3%) 0.34 211
2021-04-01 $137,450 (37.6%) $194,737 (26.9%) 0.37 187
2021-05-01 $149,800 (36.3%) $204,432 (21.4%) 0.40 201
2021-06-01 $133,800 (15.3%) $201,236 (16.1%) 0.35 237
2021-07-01 $129,900 (-5.0%) $194,381 (4.6%) 0.34 274
2021-08-01 $147,200 (20.7%) $210,891 (13.9%) 0.39 283
2021-09-01 $136,925 (14.1%) $202,768 (13.4%) 0.37 319
2021-10-01 $134,950 (12.5%) $210,077 (14.4%) 0.36 300
2021-11-01 $129,950 (18.2%) $209,060 (13.0%) 0.35 269
2021-12-01 $119,950 (17.1%) $209,110 (15.0%) 0.32 233
2022-01-01 $117,900 (18.0%) $197,614 (9.9%) 0.32 208
2022-02-01 $113,475 (-3.4%) $186,082 (3.9%) 0.30 183
2022-03-01 $127,400 (7.4%) $187,802 (4.7%) 0.32 170
2022-04-01 $135,450 (-1.5%) $198,758 (2.1%) 0.32 175
2022-05-01 $139,675 (-6.8%) $193,229 (-5.5%) 0.32 203
2022-06-01 $152,500 (14.0%) $215,016 (6.9%) 0.34 232
2022-07-01 $159,450 (22.8%) $209,875 (8.0%) 0.36 280
2022-08-01 $149,450 (1.5%) $207,178 (-1.8%) 0.35 310
2022-09-01 $154,250 (12.7%) $200,272 (-1.2%) 0.36 318
2022-10-01 $152,000 (12.6%) $205,106 (-2.4%) 0.36 330
2022-11-01 $161,975 (24.6%) $206,700 (-1.1%) 0.39 333
2022-12-01 $159,900 (33.3%) $207,370 (-0.8%) 0.39 296
2023-01-01 $156,425 (32.7%) $203,465 (3.0%) 0.39 286
2023-02-01 $152,950 (34.8%) $208,139 (11.9%) 0.37 253
2023-03-01 $163,500 (28.3%) $229,274 (22.1%) 0.39 235
2023-04-01 $165,000 (21.8%) $227,332 (14.4%) 0.38 219
2023-05-01 $179,950 (28.8%) $239,795 (24.1%) 0.41 211
2023-06-01 $175,913 (15.4%) $236,436 (10.0%) 0.40 229
2023-07-01 $175,000 (9.8%) $237,313 (13.1%) 0.40 245
2023-08-01 $168,200 (12.6%) $229,431 (10.7%) 0.39 278
2023-09-01 $159,900 (3.7%) $227,499 (13.6%) 0.37 293
2023-10-01 $159,850 (5.2%) $223,992 (9.2%) 0.38 328
2023-11-01 $169,900 (4.9%) $227,020 (9.8%) 0.40 345
2023-12-01 $177,000 (10.7%) $230,203 (11.0%) 0.43 330
2024-01-01 $179,900 (15.0%) $235,977 (16.0%) 0.44 305
2024-02-01 $171,075 (11.9%) $229,619 (10.3%) 0.41 294
2024-03-01 $179,900 (10.0%) $241,885 (5.5%) 0.42 303
2024-04-01 $179,900 (9.0%) $255,650 (12.5%) 0.42 293
2024-05-01 $184,500 (2.5%) $265,683 (10.8%) 0.42 314
Terre Haute's median listing price for 2024-05-01 was $184,500, a difference of $4,550 (2.5%) versus the prior year and $4,600 versus the prior month.

Terre Haute's median listing price comes in at 42% of the national average.

Terre Haute's average listing price for 2024-05-01 was $265,683, a difference of $25,888 (10.8%) versus the prior year and $10,033 versus the prior month.

For the 2024-05-01 period, Terre Haute had 314 MLS listings, a difference of 21 listings (7%) versus the prior month and 103 listings (49%) 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 82 days 1,534 sqft
2018-02-01 83 days 1,533 sqft
2018-03-01 74 days 1,616 sqft
2018-04-01 56 days 1,723 sqft
2018-05-01 60 days 1,704 sqft
2018-06-01 55 days 1,701 sqft
2018-07-01 58 days 1,698 sqft
2018-08-01 60 days 1,726 sqft
2018-09-01 54 days 1,728 sqft
2018-10-01 63 days 1,740 sqft
2018-11-01 67 days 1,688 sqft
2018-12-01 74 days 1,659 sqft
2019-01-01 85 days 1,619 sqft
2019-02-01 88 days 1,599 sqft
2019-03-01 73 days 1,627 sqft
2019-04-01 55 days 1,659 sqft
2019-05-01 57 days 1,647 sqft
2019-06-01 54 days 1,637 sqft
2019-07-01 60 days 1,656 sqft
2019-08-01 66 days 1,620 sqft
2019-09-01 69 days 1,620 sqft
2019-10-01 72 days 1,620 sqft
2019-11-01 74 days 1,599 sqft
2019-12-01 87 days 1,599 sqft
2020-01-01 88 days 1,599 sqft
2020-02-01 88 days 1,575 sqft
2020-03-01 67 days 1,558 sqft
2020-04-01 70 days 1,569 sqft
2020-05-01 81 days 1,599 sqft
2020-06-01 76 days 1,599 sqft
2020-07-01 58 days 1,599 sqft
2020-08-01 57 days 1,599 sqft
2020-09-01 51 days 1,599 sqft
2020-10-01 52 days 1,599 sqft
2020-11-01 57 days 1,599 sqft
2020-12-01 64 days 1,599 sqft
2021-01-01 74 days 1,596 sqft
2021-02-01 67 days 1,599 sqft
2021-03-01 54 days 1,576 sqft
2021-04-01 49 days 1,599 sqft
2021-05-01 31 days 1,599 sqft
2021-06-01 28 days 1,659 sqft
2021-07-01 33 days 1,656 sqft
2021-08-01 39 days 1,755 sqft
2021-09-01 40 days 1,702 sqft
2021-10-01 44 days 1,632 sqft
2021-11-01 47 days 1,574 sqft
2021-12-01 60 days 1,548 sqft
2022-01-01 57 days 1,536 sqft
2022-02-01 63 days 1,553 sqft
2022-03-01 39 days 1,532 sqft
2022-04-01 37 days 1,584 sqft
2022-05-01 28 days 1,570 sqft
2022-06-01 35 days 1,632 sqft
2022-07-01 33 days 1,664 sqft
2022-08-01 39 days 1,637 sqft
2022-09-01 45 days 1,693 sqft
2022-10-01 52 days 1,704 sqft
2022-11-01 53 days 1,797 sqft
2022-12-01 62 days 1,626 sqft
2023-01-01 71 days 1,600 sqft
2023-02-01 67 days 1,602 sqft
2023-03-01 58 days 1,654 sqft
2023-04-01 52 days 1,600 sqft
2023-05-01 38 days 1,599 sqft
2023-06-01 39 days 1,602 sqft
2023-07-01 40 days 1,707 sqft
2023-08-01 39 days 1,779 sqft
2023-09-01 46 days 1,820 sqft
2023-10-01 45 days 1,765 sqft
2023-11-01 48 days 1,817 sqft
2023-12-01 61 days 1,736 sqft
2024-01-01 70 days 1,758 sqft
2024-02-01 73 days 1,697 sqft
2024-03-01 53 days 1,733 sqft
2024-04-01 50 days 1,681 sqft
2024-05-01 48 days 1,682 sqft
Terre Haute's median listing age (time on market) for 2024-05-01 was 48 days. This is 26% longer than the same period one year ago.

Terre Haute's median square footage for active listings during the 2024-05-01 period was 1,682 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.