Toledo VA Loan Rates, Closing Costs & Stats

TOLEDO, OH

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.

Toledo's 74 lenders originated 663 VA loans during 2022. The total origination value was $146,445,000, with an average VA loan value of $220,882.

Toledo VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Toledo averaged 6.5% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Toledo's average VA mortgage closing costs are $5,356.

The average rate for the prior week (2024-02-23) was 6.73% and one month ago for the week of 2024-01-26, the average rate was 6.36%.

The average rate one year ago was 6.6%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.7%.

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

Toledo 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 Toledo level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 123 5.30% $6,307
QUICKEN LOANS, LLC 62 4.50% $9,839
UNION HOME MORTGAGE CORP. 31 4.79% $8,809
UNITED WHOLESALE MORTGAGE, LLC 27 4.73% $6,467
USAA Federal Savings Bank 23 4.43% $6,610
NAVY FEDERAL CREDIT UNION 22 3.99% $8,785
LOANDEPOT.COM, LLC 21 5.00% $11,298
The Huntington National Bank 21 4.69% $6,725
EQUITY RESOURCES, INC. 20 4.47% $5,655
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 5.11% $6,393
CALIBER HOME LOANS, INC. 16 4.46% $10,008
FREEDOM MORTGAGE CORPORATION 16 4.49% $11,763
PENNYMAC LOAN SERVICES, LLC 16 3.43% $7,722
NEW DAY FINANCIAL, LLC 13 5.37% $10,047
ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 5.31% $5,237
Fifth Third Bank 12 5.16% $3,700
CROSSCOUNTRY MORTGAGE, LLC 11 5.45% $9,243
Mr. Cooper ( Nationstar Mortgage ) 10 4.78% $6,528
RUOFF MORTGAGE COMPANY, INC. 9 5.63% $5,166
AMERIFIRST FINANCIAL CORPORATION 9 4.94% $7,268
MID AMERICA MORTGAGE, INC. 9 4.33% $3,164
AMERISAVE MORTGAGE CORPORATION 7 4.13% $11,803
VILLAGE CAPITAL MORTGAGE 6 3.50% $6,796
MUTUAL OF OMAHA MORTGAGE, INC. 5 3.78% $13,012
Flagstar Bank, FSB 5 5.39% $2,376
Carrington Mortgage Services, LLC 5 4.70% $7,751
KeyBank 5 3.48% $2,670
GVC MORTGAGE, INC. 4 5.78% $5,282
BROKER SOLUTIONS, INC. 4 4.75% $8,666
Citizens Bank 4 4.34% $7,400
NEWREZ LLC 4 4.78% $6,058
LIBERTY HOME MORTGAGE CORPORATION 3 5.12% $8,445
CLEARPATH LENDING 3 3.91% $12,277
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.13% $7,338
Barrington Bank & Trust Company, N.A. 3 5.00% $15,079
First Federal Bank 3 6.12% $6,487
The Federal Savings Bank 3 4.25% $14,301
VAN DYK MORTGAGE CORPORATION 3 3.88% $11,659
GUARANTEED RATE, INC. 3 5.43% $5,283
Hometown Lenders, Inc. 2 6.75% $10,475
LAKEVIEW LOAN SERVICING, LLC 2 3.63% $5,360
Magnolia Bank 2 5.50% $12,659
Mid-Continent Funding, Inc. 2 4.44% $4,395
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.13% $2,891
GENEVA FINANCIAL, LLC 2 4.88% $4,724
YOUR HOME FINANCIAL LLC 2 5.25% $12,641
NFM, INC. 2 5.81% $6,507
North American Savings Bank, F.S.B. 2 4.94% $9,058
Northpointe Bank 2 5.00% $12,469
SUN Federal Credit Union 2 6.06% $7,210
The State Bank and Trust Company 2 5.44% $3,555
Capital Bank 1 3.25% $12,447
AMERICAN FINANCING CORPORATION 1 3.13% $11,031
HOME POINT FINANCIAL CORPORATION 1 4.25% $13,509
ANGEL OAK HOME LOANS LLC 1 3.50% $1,429
FirstBank 1 3.13% $8,597
PNC Bank 1 4.38% $3,677
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.75% $9,677
DELMAR FINANCIAL COMPANY 1 5.50% $7,806
RAPID MORTGAGE COMPANY 1 5.13% $10,342
MORTGAGE ACCESS CORP. 1 6.25% $5,128
Servion, Inc. 1 3.63% $3,698
Wells Fargo Bank 1 4.38% $4,384
Low VA Rates, LLC 1 4.75% $12,470
CHURCHILL MORTGAGE CORPORATION 1 4.50% $5,060
JPMorgan Chase Bank 1 4.63% $9,892
The Union Bank Company 1 7.25% $7,138
CARDINAL FINANCIAL 1 3.50% $10,013
M&T Bank 1 3.50% $3,340
First Federal Bank of the Midwest 1 3.75% $11,137
NATIONS RELIABLE LENDING, LLC 1 6.25% $9,539
First Federal Bank of Kansas City 1 5.00% $8,008
NBKC BANK 1 4.63% $3,185
MOVEMENT MORTGAGE, LLC 1 7.25% $6,140

The top Toledo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 123 VA loans originated. Their average total fees are $6,307, which is $3,532 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Toledo VA lenders (with over 10 loans originated) are Fifth Third Bank ($3,700), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,237), EQUITY RESOURCES, INC. ($5,655), Mortgage Research Center, LLC ($6,307) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,393).

The lowest rate Toledo VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.43%), NAVY FEDERAL CREDIT UNION (3.99%), USAA Federal Savings Bank (4.43%), CALIBER HOME LOANS, INC. (4.46%) and EQUITY RESOURCES, INC. (4.47%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Toledo (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 $129,950 (-1.7%) $199,476 (4.5%) 0.48 1,993
2018-02-01 $134,900 (0.0%) $203,753 (3.7%) 0.49 1,850
2018-03-01 $144,900 (3.6%) $213,548 (5.8%) 0.51 1,776
2018-04-01 $157,450 (11.4%) $228,081 (11.2%) 0.53 1,779
2018-05-01 $165,000 (10.9%) $233,610 (9.7%) 0.55 1,786
2018-06-01 $165,000 (13.4%) $229,359 (6.0%) 0.55 1,935
2018-07-01 $166,388 (14.8%) $226,483 (5.2%) 0.56 2,057
2018-08-01 $155,037 (10.8%) $219,787 (5.5%) 0.52 2,172
2018-09-01 $149,900 (4.9%) $214,419 (3.1%) 0.50 2,182
2018-10-01 $149,900 (6.0%) $211,764 (2.2%) 0.51 2,220
2018-11-01 $149,200 (6.7%) $210,764 (2.5%) 0.51 2,106
2018-12-01 $145,000 (6.2%) $210,114 (-2.6%) 0.50 1,968
2019-01-01 $149,450 (15.0%) $212,975 (6.8%) 0.52 1,754
2019-02-01 $151,450 (12.3%) $218,235 (7.1%) 0.51 1,653
2019-03-01 $168,943 (16.6%) $230,994 (8.2%) 0.55 1,603
2019-04-01 $179,493 (14.0%) $240,921 (5.6%) 0.57 1,592
2019-05-01 $193,950 (17.6%) $245,229 (5.0%) 0.61 1,610
2019-06-01 $194,900 (18.1%) $246,539 (7.5%) 0.61 1,652
2019-07-01 $184,950 (11.2%) $242,582 (7.1%) 0.58 1,781
2019-08-01 $180,910 (16.7%) $239,493 (9.0%) 0.57 1,814
2019-09-01 $174,774 (16.6%) $235,702 (9.9%) 0.56 1,833
2019-10-01 $169,951 (13.4%) $232,202 (9.7%) 0.55 1,846
2019-11-01 $165,000 (10.6%) $226,584 (7.5%) 0.54 1,835
2019-12-01 $159,900 (10.3%) $225,502 (7.3%) 0.53 1,720
2020-01-01 $160,599 (7.5%) $227,963 (7.0%) 0.54 1,585
2020-02-01 $166,000 (9.6%) $231,041 (5.9%) 0.54 1,505
2020-03-01 $169,475 (0.3%) $236,922 (2.6%) 0.53 1,472
2020-04-01 $180,950 (0.8%) $241,258 (0.1%) 0.57 1,440
2020-05-01 $197,700 (1.9%) $254,112 (3.6%) 0.60 1,344
2020-06-01 $202,475 (3.9%) $266,529 (8.1%) 0.60 1,210
2020-07-01 $211,225 (14.2%) $270,004 (11.3%) 0.61 1,173
2020-08-01 $215,000 (18.8%) $268,774 (12.2%) 0.62 1,107
2020-09-01 $202,450 (15.8%) $259,184 (10.0%) 0.58 1,073
2020-10-01 $189,900 (11.7%) $254,888 (9.8%) 0.54 1,117
2020-11-01 $179,950 (9.1%) $249,744 (10.2%) 0.53 1,026
2020-12-01 $179,675 (12.4%) $247,111 (9.6%) 0.53 894
2021-01-01 $180,000 (12.1%) $246,732 (8.2%) 0.54 785
2021-02-01 $197,000 (18.7%) $260,241 (12.6%) 0.57 635
2021-03-01 $191,750 (13.1%) $257,647 (8.8%) 0.54 641
2021-04-01 $183,000 (1.1%) $254,981 (5.7%) 0.50 679
2021-05-01 $187,250 (-5.3%) $253,797 (-0.1%) 0.50 727
2021-06-01 $184,250 (-9.0%) $258,618 (-3.0%) 0.49 794
2021-07-01 $185,000 (-12.4%) $253,724 (-6.0%) 0.49 921
2021-08-01 $179,400 (-16.6%) $258,851 (-3.7%) 0.48 1,034
2021-09-01 $169,900 (-16.1%) $252,231 (-2.7%) 0.45 1,097
2021-10-01 $165,000 (-13.1%) $246,723 (-3.2%) 0.44 1,050
2021-11-01 $159,900 (-11.1%) $243,667 (-2.4%) 0.43 944
2021-12-01 $152,475 (-15.1%) $243,785 (-1.4%) 0.41 786
2022-01-01 $149,900 (-16.7%) $251,318 (1.9%) 0.41 665
2022-02-01 $152,500 (-22.6%) $251,286 (-3.4%) 0.40 541
2022-03-01 $166,500 (-13.2%) $272,557 (5.8%) 0.42 525
2022-04-01 $179,900 (-1.7%) $274,927 (7.8%) 0.43 610
2022-05-01 $184,450 (-1.5%) $269,706 (6.3%) 0.42 749
2022-06-01 $189,000 (2.6%) $270,668 (4.7%) 0.42 896
2022-07-01 $184,900 (-0.1%) $269,875 (6.4%) 0.42 993
2022-08-01 $181,200 (1.0%) $268,572 (3.8%) 0.42 1,030
2022-09-01 $179,950 (5.9%) $256,955 (1.9%) 0.42 1,020
2022-10-01 $169,900 (3.0%) $243,741 (-1.2%) 0.40 1,063
2022-11-01 $161,319 (0.9%) $238,106 (-2.3%) 0.39 1,024
2022-12-01 $167,000 (9.5%) $246,743 (1.2%) 0.41 888
2023-01-01 $174,600 (16.5%) $264,260 (5.2%) 0.43 758
2023-02-01 $190,825 (25.1%) $282,413 (12.4%) 0.46 686
2023-03-01 $208,800 (25.4%) $298,616 (9.6%) 0.49 689
2023-04-01 $215,000 (19.5%) $303,613 (10.4%) 0.50 718
2023-05-01 $229,950 (24.7%) $305,498 (13.3%) 0.52 795
2023-06-01 $239,900 (26.9%) $305,806 (13.0%) 0.54 849
2023-07-01 $239,900 (29.8%) $308,542 (14.3%) 0.55 811
2023-08-01 $237,200 (30.9%) $303,766 (13.1%) 0.54 868
2023-09-01 $219,900 (22.2%) $284,806 (10.8%) 0.51 927
2023-10-01 $205,725 (21.1%) $277,582 (13.9%) 0.48 991
2023-11-01 $199,900 (23.9%) $279,117 (17.2%) 0.48 942
2023-12-01 $199,800 (19.6%) $270,402 (9.6%) 0.49 882
2024-01-01 $189,950 (8.8%) $285,518 (8.0%) 0.46 831
Toledo's median listing price for 2024-01-01 was $189,950, a difference of $15,350 (8.8%) versus the prior year and $-9,850 versus the prior month.

Toledo's median listing price comes in at 46% of the national average.

Toledo's average listing price for 2024-01-01 was $285,518, a difference of $21,258 (8.0%) versus the prior year and $15,116 versus the prior month.

For the 2024-01-01 period, Toledo had 831 MLS listings, a difference of -51 listings (-6%) versus the prior month and 73 listings (10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Toledo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 85 days 1,508 sqft
2018-02-01 82 days 1,509 sqft
2018-03-01 62 days 1,554 sqft
2018-04-01 52 days 1,589 sqft
2018-05-01 52 days 1,619 sqft
2018-06-01 48 days 1,640 sqft
2018-07-01 48 days 1,655 sqft
2018-08-01 49 days 1,622 sqft
2018-09-01 54 days 1,611 sqft
2018-10-01 60 days 1,618 sqft
2018-11-01 63 days 1,586 sqft
2018-12-01 72 days 1,568 sqft
2019-01-01 81 days 1,575 sqft
2019-02-01 79 days 1,570 sqft
2019-03-01 68 days 1,614 sqft
2019-04-01 52 days 1,664 sqft
2019-05-01 48 days 1,704 sqft
2019-06-01 50 days 1,715 sqft
2019-07-01 50 days 1,717 sqft
2019-08-01 53 days 1,711 sqft
2019-09-01 55 days 1,702 sqft
2019-10-01 57 days 1,695 sqft
2019-11-01 58 days 1,688 sqft
2019-12-01 66 days 1,648 sqft
2020-01-01 76 days 1,641 sqft
2020-02-01 72 days 1,629 sqft
2020-03-01 58 days 1,641 sqft
2020-04-01 62 days 1,670 sqft
2020-05-01 64 days 1,698 sqft
2020-06-01 46 days 1,724 sqft
2020-07-01 40 days 1,765 sqft
2020-08-01 45 days 1,738 sqft
2020-09-01 40 days 1,718 sqft
2020-10-01 40 days 1,694 sqft
2020-11-01 45 days 1,621 sqft
2020-12-01 56 days 1,631 sqft
2021-01-01 63 days 1,633 sqft
2021-02-01 47 days 1,651 sqft
2021-03-01 35 days 1,646 sqft
2021-04-01 28 days 1,620 sqft
2021-05-01 27 days 1,608 sqft
2021-06-01 28 days 1,604 sqft
2021-07-01 30 days 1,598 sqft
2021-08-01 30 days 1,594 sqft
2021-09-01 35 days 1,584 sqft
2021-10-01 42 days 1,568 sqft
2021-11-01 45 days 1,532 sqft
2021-12-01 53 days 1,529 sqft
2022-01-01 58 days 1,502 sqft
2022-02-01 42 days 1,488 sqft
2022-03-01 31 days 1,526 sqft
2022-04-01 24 days 1,531 sqft
2022-05-01 24 days 1,517 sqft
2022-06-01 25 days 1,542 sqft
2022-07-01 34 days 1,560 sqft
2022-08-01 35 days 1,562 sqft
2022-09-01 41 days 1,536 sqft
2022-10-01 40 days 1,512 sqft
2022-11-01 44 days 1,504 sqft
2022-12-01 54 days 1,500 sqft
2023-01-01 62 days 1,522 sqft
2023-02-01 47 days 1,539 sqft
2023-03-01 36 days 1,533 sqft
2023-04-01 37 days 1,544 sqft
2023-05-01 31 days 1,552 sqft
2023-06-01 35 days 1,576 sqft
2023-07-01 38 days 1,586 sqft
2023-08-01 37 days 1,615 sqft
2023-09-01 37 days 1,590 sqft
2023-10-01 39 days 1,552 sqft
2023-11-01 43 days 1,528 sqft
2023-12-01 53 days 1,530 sqft
2024-01-01 53 days 1,521 sqft
Toledo's median listing age (time on market) for 2024-01-01 was 53 days. This is -15% shorter than the same period one year ago.

Toledo's median square footage for active listings during the 2024-01-01 period was 1,521 sqft. One year prior, the average listing was 1,522 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.