Toledo VA Loan Rates, Closing Costs & Stats

TOLEDO, OH

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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 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 56 lenders originated 465 VA loans during 2023. The total origination value was $109,975,000, with an average VA loan value of $236,505.

    Toledo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Toledo averaged 0.32% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Toledo's average VA mortgage closing costs are $5,576.

    The average rate for the prior week (2024-11-08) was 6.73% and one month ago for the week of 2024-10-11, the average rate was 6.4%.

    The average rate one year ago was 7.69%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.83%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 101 6.85% $6,735
    QUICKEN LOANS, LLC 45 6.22% $10,545
    UNITED WHOLESALE MORTGAGE, LLC 35 6.66% $7,180
    NAVY FEDERAL CREDIT UNION 23 5.77% $5,009
    UNION HOME MORTGAGE CORP. 22 6.41% $9,861
    EQUITY RESOURCES, INC. 18 6.66% $3,719
    NEWREZ LLC 16 6.80% $9,004
    The Huntington National Bank 14 6.71% $8,383
    NEW DAY FINANCIAL, LLC 12 7.57% $10,442
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.53% $10,028
    LOANDEPOT.COM, LLC 12 6.73% $8,490
    FREEDOM MORTGAGE CORPORATION 11 6.50% $13,419
    PENNYMAC LOAN SERVICES, LLC 10 5.66% $6,030
    USAA Federal Savings Bank 9 6.24% $7,527
    MID AMERICA MORTGAGE, INC. 9 6.36% $4,751
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.07% $8,047
    CROSSCOUNTRY MORTGAGE, LLC 6 6.65% $6,240
    KeyBank 5 6.38% $5,785
    Fifth Third Bank 5 6.60% $5,573
    First Federal Bank of the Midwest 5 6.35% $7,001
    Mr. Cooper ( Nationstar Mortgage ) 5 5.88% $10,423
    RUOFF MORTGAGE COMPANY, INC. 4 6.50% $5,750
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.97% $9,988
    The Federal Savings Bank 4 6.44% $16,432
    VAN DYK MORTGAGE CORPORATION 4 6.78% $6,308
    NFM, INC. 3 7.21% $6,796
    Paramount Residential Mortgage Group, Inc. 3 6.00% $9,845
    Flagstar Bank, FSB 3 6.63% $3,834
    GVC MORTGAGE, INC. 3 6.67% $8,489
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 8.13% $2,248
    MOVEMENT MORTGAGE, LLC 2 6.13% $7,776
    BROKER SOLUTIONS, INC. 2 7.06% $9,269
    Barrington Bank & Trust Company, N.A. 2 6.25% $7,833
    AMERISAVE MORTGAGE CORPORATION 2 5.88% $14,335
    SUCCESS MORTGAGE PARTNERS, INC. 2 7.63% $8,110
    RELIANCE FIRST CAPITAL, LLC 2 5.88% $8,283
    First Federal Bank 2 6.38% $7,656
    VILLAGE CAPITAL MORTGAGE 1 6.25% $4,902
    Ameris Bank 1 6.63% $12,327
    Citizens Bank 1 7.00% $2,619
    CMG MORTGAGE, INC. 1 7.63% $4,358
    Colonial Savings, F.A. 1 6.00% $11,224
    CONTOUR MORTGAGE CORPORATION 1 6.38% $2,578
    GUARANTEED RATE, INC. 1 5.75% $843
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.25% $8,236
    Mid-Continent Funding, Inc. 1 6.99% $5,293
    MORTGAGE ACCESS CORP. 1 5.75% $3,948
    M&T Bank 1 6.25% $3,573
    NATIONS DIRECT MORTGAGE, LLC 1 7.50% $3,999
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.00% $11,365
    PNC Bank 1 7.75% $5,934
    RAPID MORTGAGE COMPANY 1 6.75% $7,356
    SUN Federal Credit Union 1 6.50% $6,643
    The Genoa Banking Company 1 7.63% $8,277
    U.S. Bank 1 7.00% $7,963
    AMCAP MORTGAGE, LTD. 1 7.13% $1,479

    The top Toledo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 101 VA loans originated. Their average total fees are $6,735, which is $3,810 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Toledo VA lenders (with over 10 loans originated) are EQUITY RESOURCES, INC. ($3,719), NAVY FEDERAL CREDIT UNION ($5,009), PENNYMAC LOAN SERVICES, LLC ($6,030), Mortgage Research Center, LLC ($6,735) and UNITED WHOLESALE MORTGAGE, LLC ($7,180).

    The lowest rate Toledo VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.66%), NAVY FEDERAL CREDIT UNION (5.77%), QUICKEN LOANS, LLC (6.22%), UNION HOME MORTGAGE CORP. (6.41%) and FREEDOM MORTGAGE CORPORATION (6.50%).

    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
    2024-02-01 $212,750 (11.5%) $308,287 (9.2%) 0.51 735
    2024-03-01 $230,000 (10.2%) $328,574 (10.0%) 0.54 742
    2024-04-01 $244,900 (13.9%) $335,453 (10.5%) 0.57 762
    2024-05-01 $276,177 (20.1%) $370,686 (21.3%) 0.62 852
    2024-06-01 $274,900 (14.6%) $365,433 (19.5%) 0.62 883
    2024-07-01 $262,400 (9.4%) $341,719 (10.8%) 0.60 911
    2024-08-01 $248,944 (5.0%) $320,949 (5.7%) 0.58 996
    2024-09-01 $237,450 (8.0%) $322,444 (13.2%) 0.56 1,034
    2024-10-01 $247,175 (20.2%) $328,939 (18.5%) 0.58 1,007
    Toledo's median listing price for 2024-10-01 was $247,175, a difference of $41,450 (20.2%) versus the prior year and $9,725 versus the prior month.

    Toledo's median listing price comes in at 58% of the national average.

    Toledo's average listing price for 2024-10-01 was $328,939, a difference of $51,357 (18.5%) versus the prior year and $6,495 versus the prior month.

    For the 2024-10-01 period, Toledo had 1,007 MLS listings, a difference of -27 listings (-3%) versus the prior month and 16 listings (2%) 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
    2024-02-01 42 days 1,545 sqft
    2024-03-01 37 days 1,556 sqft
    2024-04-01 37 days 1,593 sqft
    2024-05-01 28 days 1,647 sqft
    2024-06-01 31 days 1,656 sqft
    2024-07-01 37 days 1,648 sqft
    2024-08-01 35 days 1,603 sqft
    2024-09-01 37 days 1,598 sqft
    2024-10-01 43 days 1,611 sqft
    Toledo's median listing age (time on market) for 2024-10-01 was 43 days. This is 10% longer than the same period one year ago.

    Toledo's median square footage for active listings during the 2024-10-01 period was 1,611 sqft. One year prior, the average listing was 1,552 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.