Topeka VA Loan Rates, Closing Costs & Stats

TOPEKA, KS

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.

Topeka's 59 lenders originated 429 VA loans during 2022. The total origination value was $99,215,000, with an average VA loan value of $231,270.

Topeka VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Topeka averaged -0.1% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Topeka's average VA mortgage closing costs are $4,535.

The average rate for the prior week (2024-02-16) was 6.28% and one month ago for the week of 2024-01-19, the average rate was 5.93%.

The average rate one year ago was 6.05%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.03%.

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

Topeka 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 Topeka level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 79 4.98% $5,306
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 49 4.65% $6,654
QUICKEN LOANS, LLC 34 3.97% $7,268
Landmark National Bank 26 4.87% $6,392
USAA Federal Savings Bank 24 4.26% $4,890
FREEDOM MORTGAGE CORPORATION 20 4.50% $6,697
PENNYMAC LOAN SERVICES, LLC 16 3.94% $9,622
NAVY FEDERAL CREDIT UNION 15 4.41% $3,970
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 6.04% $6,439
NEW DAY FINANCIAL, LLC 10 4.88% $10,243
UNION HOME MORTGAGE CORP. 9 4.54% $5,228
Mr. Cooper ( Nationstar Mortgage ) 8 5.58% $7,009
U.S. Bank 7 4.96% $7,050
NBH Bank 7 4.95% $9,884
LAKEVIEW LOAN SERVICING, LLC 7 3.20% $3,543
LOANDEPOT.COM, LLC 7 4.21% $8,734
AMERISAVE MORTGAGE CORPORATION 6 3.96% $6,014
UNITED WHOLESALE MORTGAGE, LLC 5 4.84% $14,383
Flagstar Bank, FSB 5 6.17% $5,735
Central National Bank 4 5.03% $4,419
Wells Fargo Bank 4 3.81% $5,176
Carrington Mortgage Services, LLC 3 4.96% $4,882
Nations Lending Corporation 3 5.25% $7,902
EVERETT FINANCIAL, INC. 3 6.33% $1,803
Gateway First Bank 2 5.44% $2,468
PENTAGON FEDERAL CREDIT UNION 2 2.88% $6,006
NEWREZ LLC 2 4.06% $6,744
HOME POINT FINANCIAL CORPORATION 2 4.31% $14,821
Armed Forces Bank 2 4.88% $2,423
Barrington Bank & Trust Company, N.A. 2 3.38% $8,221
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.50% $5,215
MOVEMENT MORTGAGE, LLC 2 5.00% $2,058
BOKF 2 5.38% $8,032
Mortgage Investment Services Corporation 1 4.75% $5,680
BAY EQUITY LLC 1 5.63% $12,235
BROKER SOLUTIONS, INC. 1 3.75% $8,065
CALIBER HOME LOANS, INC. 1 3.95% $8,893
Century Mortgage Company DBA Century Lending Company 1 3.63% $8,089
Community First National Bank 1 3.75% $3,159
COMMUNITY MORTGAGE, LLC 1 2.75% $15,462
CROSSCOUNTRY MORTGAGE, LLC 1 5.13% $9,242
Equity Prime Mortgage LLC 1 4.25% $2,239
Exchange Bank 1 4.75% $2,193
FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $2,787
First Home Bank 1 2.75% $10,679
FLAT BRANCH MORTGAGE, INC. 1 6.13% $13,057
Goldwater Bank, N.A. 1 5.63% $7,395
GUILD MORTGAGE COMPANY 1 6.50% $2,682
HOMESIDE FINANCIAL, LLC 1 3.88% $2,997
Ixonia Bank 1 2.99% $11,097
LEADERONE FINANCIAL CORPORATION 1 6.25% $7,681
Members Mortgage Services, L.L.C. 1 3.25% $4,353
Mid-Continent Funding, Inc. 1 5.63% $6,446
ACADEMY MORTGAGE CORPORATION 1 6.13% $3,401
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.88% $4,797
NBKC BANK 1 4.63% $9,419
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $8,250
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.13% $10,825
The Federal Savings Bank 1 7.00% $12,378

The top Topeka VA lender as defined by loan originations is Mortgage Research Center, LLC, with 79 VA loans originated. Their average total fees are $5,306, which is $1,347 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Topeka VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,970), USAA Federal Savings Bank ($4,890), Mortgage Research Center, LLC ($5,306), Landmark National Bank ($6,392) and MORTGAGE SOLUTIONS OF COLORADO, LLC ($6,439).

The lowest rate Topeka VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.94%), QUICKEN LOANS, LLC (3.97%), USAA Federal Savings Bank (4.26%), NAVY FEDERAL CREDIT UNION (4.41%) and FREEDOM MORTGAGE CORPORATION (4.50%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Topeka (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 $106,225 (-1.2%) $152,272 (1.7%) 0.39 568
2018-02-01 $110,475 (0.5%) $157,554 (2.2%) 0.40 570
2018-03-01 $114,900 (-2.1%) $159,512 (-2.1%) 0.40 555
2018-04-01 $116,450 (-5.1%) $170,246 (-2.0%) 0.39 546
2018-05-01 $119,925 (1.2%) $176,938 (3.7%) 0.40 565
2018-06-01 $125,000 (-2.5%) $184,672 (7.2%) 0.42 619
2018-07-01 $130,500 (8.8%) $183,644 (9.0%) 0.44 654
2018-08-01 $127,450 (8.5%) $181,595 (9.6%) 0.43 644
2018-09-01 $120,950 (10.1%) $171,684 (7.1%) 0.41 662
2018-10-01 $119,999 (4.5%) $168,513 (4.5%) 0.41 644
2018-11-01 $117,500 (8.7%) $162,560 (4.3%) 0.40 623
2018-12-01 $119,900 (11.0%) $165,189 (7.7%) 0.41 568
2019-01-01 $118,450 (11.5%) $167,193 (9.8%) 0.41 553
2019-02-01 $119,947 (8.6%) $176,277 (11.9%) 0.41 511
2019-03-01 $126,297 (9.9%) $183,301 (14.9%) 0.41 502
2019-04-01 $139,800 (20.1%) $189,259 (11.2%) 0.44 492
2019-05-01 $152,450 (27.1%) $191,640 (8.3%) 0.48 491
2019-06-01 $149,000 (19.2%) $182,288 (-1.3%) 0.47 522
2019-07-01 $149,900 (14.9%) $183,775 (0.1%) 0.47 512
2019-08-01 $149,245 (17.1%) $188,018 (3.5%) 0.47 507
2019-09-01 $148,264 (22.6%) $189,204 (10.2%) 0.47 500
2019-10-01 $146,225 (21.9%) $188,536 (11.9%) 0.47 505
2019-11-01 $134,900 (14.8%) $181,857 (11.9%) 0.44 526
2019-12-01 $125,000 (4.3%) $169,395 (2.6%) 0.42 485
2020-01-01 $128,475 (8.5%) $166,431 (-0.5%) 0.43 418
2020-02-01 $137,000 (14.2%) $174,542 (-1.0%) 0.45 381
2020-03-01 $147,800 (17.0%) $185,416 (1.2%) 0.46 379
2020-04-01 $152,475 (9.1%) $193,064 (2.0%) 0.48 367
2020-05-01 $165,000 (8.2%) $206,687 (7.9%) 0.50 305
2020-06-01 $152,450 (2.3%) $200,250 (9.9%) 0.45 292
2020-07-01 $131,975 (-12.0%) $194,724 (6.0%) 0.38 282
2020-08-01 $140,000 (-6.2%) $198,626 (5.6%) 0.40 273
2020-09-01 $138,725 (-6.4%) $196,702 (4.0%) 0.40 273
2020-10-01 $134,950 (-7.7%) $199,862 (6.0%) 0.39 253
2020-11-01 $142,450 (5.6%) $196,981 (8.3%) 0.42 257
2020-12-01 $142,450 (14.0%) $191,045 (12.8%) 0.42 233
2021-01-01 $146,200 (13.8%) $199,663 (20.0%) 0.44 191
2021-02-01 $147,500 (7.7%) $205,495 (17.7%) 0.43 152
2021-03-01 $154,850 (4.8%) $204,214 (10.1%) 0.44 159
2021-04-01 $157,725 (3.4%) $226,037 (17.1%) 0.43 158
2021-05-01 $160,000 (-3.0%) $224,490 (8.6%) 0.43 177
2021-06-01 $152,500 (0.0%) $219,628 (9.7%) 0.40 216
2021-07-01 $172,273 (30.5%) $231,245 (18.8%) 0.45 255
2021-08-01 $164,500 (17.5%) $221,169 (11.4%) 0.44 247
2021-09-01 $171,250 (23.5%) $227,269 (15.5%) 0.46 253
2021-10-01 $168,750 (25.1%) $215,427 (7.8%) 0.45 253
2021-11-01 $165,532 (16.2%) $206,148 (4.7%) 0.44 226
2021-12-01 $160,894 (13.0%) $218,073 (14.2%) 0.44 185
2022-01-01 $154,950 (6.0%) $230,781 (15.6%) 0.42 124
2022-02-01 $179,250 (21.5%) $249,527 (21.4%) 0.47 117
2022-03-01 $179,950 (16.2%) $251,413 (23.1%) 0.45 128
2022-04-01 $182,450 (15.7%) $255,260 (12.9%) 0.43 151
2022-05-01 $213,200 (33.3%) $273,493 (21.8%) 0.49 174
2022-06-01 $219,975 (44.3%) $273,298 (24.4%) 0.49 202
2022-07-01 $210,000 (21.9%) $268,019 (15.9%) 0.47 220
2022-08-01 $229,750 (39.7%) $341,969 (54.6%) 0.53 210
2022-09-01 $229,900 (34.3%) $317,040 (39.5%) 0.54 225
2022-10-01 $229,000 (35.7%) $306,636 (42.3%) 0.54 273
2022-11-01 $232,450 (40.4%) $369,855 (79.4%) 0.56 326
2022-12-01 $227,450 (41.4%) $382,683 (75.5%) 0.56 283
2023-01-01 $241,738 (56.0%) $404,744 (75.4%) 0.60 232
2023-02-01 $244,500 (36.4%) $373,530 (49.7%) 0.59 215
2023-03-01 $250,125 (39.0%) $372,045 (48.0%) 0.59 183
2023-04-01 $238,700 (30.8%) $347,250 (36.0%) 0.56 203
2023-05-01 $267,463 (25.5%) $359,135 (31.3%) 0.61 204
2023-06-01 $292,000 (32.7%) $369,275 (35.1%) 0.66 225
2023-07-01 $279,900 (33.3%) $363,350 (35.6%) 0.64 258
2023-08-01 $268,000 (16.7%) $334,163 (-2.3%) 0.62 269
2023-09-01 $249,950 (8.7%) $327,696 (3.4%) 0.58 309
2023-10-01 $233,075 (1.8%) $306,185 (-0.2%) 0.55 362
2023-11-01 $229,800 (-1.1%) $290,203 (-21.5%) 0.55 354
2023-12-01 $226,950 (-0.2%) $295,014 (-22.9%) 0.55 304
Topeka's median listing price for 2023-12-01 was $226,950, a difference of $-500 (-0.2%) versus the prior year and $-2,850 versus the prior month.

Topeka's median listing price comes in at 55% of the national average.

Topeka's average listing price for 2023-12-01 was $295,014, a difference of $-87,669 (-22.9%) versus the prior year and $4,811 versus the prior month.

For the 2023-12-01 period, Topeka had 304 MLS listings, a difference of -50 listings (-14%) versus the prior month and 21 listings (7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Topeka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 70 days 1,591 sqft
2018-02-01 58 days 1,616 sqft
2018-03-01 44 days 1,632 sqft
2018-04-01 40 days 1,667 sqft
2018-05-01 37 days 1,671 sqft
2018-06-01 35 days 1,700 sqft
2018-07-01 37 days 1,735 sqft
2018-08-01 42 days 1,671 sqft
2018-09-01 44 days 1,600 sqft
2018-10-01 45 days 1,600 sqft
2018-11-01 55 days 1,585 sqft
2018-12-01 61 days 1,585 sqft
2019-01-01 64 days 1,585 sqft
2019-02-01 63 days 1,608 sqft
2019-03-01 52 days 1,655 sqft
2019-04-01 35 days 1,694 sqft
2019-05-01 37 days 1,765 sqft
2019-06-01 36 days 1,786 sqft
2019-07-01 38 days 1,772 sqft
2019-08-01 42 days 1,768 sqft
2019-09-01 40 days 1,769 sqft
2019-10-01 40 days 1,756 sqft
2019-11-01 45 days 1,700 sqft
2019-12-01 53 days 1,665 sqft
2020-01-01 59 days 1,643 sqft
2020-02-01 52 days 1,660 sqft
2020-03-01 36 days 1,679 sqft
2020-04-01 39 days 1,788 sqft
2020-05-01 32 days 1,799 sqft
2020-06-01 24 days 1,729 sqft
2020-07-01 24 days 1,627 sqft
2020-08-01 29 days 1,629 sqft
2020-09-01 25 days 1,591 sqft
2020-10-01 28 days 1,637 sqft
2020-11-01 28 days 1,634 sqft
2020-12-01 30 days 1,576 sqft
2021-01-01 37 days 1,632 sqft
2021-02-01 29 days 1,639 sqft
2021-03-01 16 days 1,600 sqft
2021-04-01 13 days 1,560 sqft
2021-05-01 12 days 1,643 sqft
2021-06-01 14 days 1,658 sqft
2021-07-01 18 days 1,719 sqft
2021-08-01 22 days 1,674 sqft
2021-09-01 22 days 1,686 sqft
2021-10-01 27 days 1,676 sqft
2021-11-01 32 days 1,676 sqft
2021-12-01 38 days 1,645 sqft
2022-01-01 31 days 1,625 sqft
2022-02-01 22 days 1,681 sqft
2022-03-01 12 days 1,733 sqft
2022-04-01 24 days 1,693 sqft
2022-05-01 26 days 1,753 sqft
2022-06-01 20 days 1,775 sqft
2022-07-01 27 days 1,768 sqft
2022-08-01 31 days 1,836 sqft
2022-09-01 28 days 1,846 sqft
2022-10-01 32 days 1,820 sqft
2022-11-01 36 days 1,751 sqft
2022-12-01 43 days 1,716 sqft
2023-01-01 59 days 1,723 sqft
2023-02-01 61 days 1,698 sqft
2023-03-01 47 days 1,778 sqft
2023-04-01 33 days 1,680 sqft
2023-05-01 29 days 2,008 sqft
2023-06-01 25 days 2,137 sqft
2023-07-01 28 days 2,107 sqft
2023-08-01 31 days 1,897 sqft
2023-09-01 30 days 1,902 sqft
2023-10-01 36 days 1,782 sqft
2023-11-01 39 days 1,752 sqft
2023-12-01 47 days 1,772 sqft
Topeka's median listing age (time on market) for 2023-12-01 was 47 days. This is 9% longer than the same period one year ago.

Topeka's median square footage for active listings during the 2023-12-01 period was 1,772 sqft. One year prior, the average listing was 1,716 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.