Topeka VA Loan Rates, Closing Costs & Stats

TOPEKA, KS

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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.

    Topeka's 52 lenders originated 289 VA loans during 2023. The total origination value was $74,165,000, with an average VA loan value of $256,626.

    Topeka VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Topeka averaged 6.13% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Topeka's average VA mortgage closing costs are $4,723.

    The average rate for the prior week (2024-12-06) was 6.16% and one month ago for the week of 2024-11-08, the average rate was 6.36%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.16%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 81 6.73% $5,131
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 6.80% $4,986
    QUICKEN LOANS, LLC 21 6.17% $7,722
    NAVY FEDERAL CREDIT UNION 14 6.01% $4,332
    UNITED WHOLESALE MORTGAGE, LLC 12 6.62% $8,146
    NEW DAY FINANCIAL, LLC 11 7.43% $10,539
    Landmark National Bank 10 6.76% $5,890
    USAA Federal Savings Bank 10 6.23% $5,743
    FREEDOM MORTGAGE CORPORATION 8 6.50% $10,644
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.56% $5,982
    U.S. Bank 6 6.77% $7,042
    The Federal Savings Bank 5 6.15% $13,400
    NBH Bank 5 6.25% $5,564
    LOANDEPOT.COM, LLC 4 6.72% $9,733
    FLAT BRANCH MORTGAGE, INC. 4 7.53% $8,805
    Flagstar Bank, FSB 4 6.12% $12,402
    LEADERONE FINANCIAL CORPORATION 3 7.33% $8,896
    Mr. Cooper ( Nationstar Mortgage ) 3 5.88% $11,064
    NBKC BANK 3 5.79% $4,320
    PENNYMAC LOAN SERVICES, LLC 3 5.58% $3,401
    MID AMERICA MORTGAGE, INC. 2 6.75% $3,327
    North American Savings Bank, F.S.B. 2 6.44% $760
    ENDEAVOR CAPITAL, LLC. 2 6.44% $1,826
    Magnolia Bank 2 6.06% $16,678
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $13,407
    Citizens Bank 1 6.25% $9,593
    American Mortgage & Equity Consultants, Inc. 1 5.49% $7,665
    Central National Bank 1 6.00% $1,646
    Carrington Mortgage Services, LLC 1 5.13% $1,705
    Capitol Federal Savings Bank 1 7.13% $2,885
    MOVEMENT MORTGAGE, LLC 1 7.13% $1,602
    Armed Forces Bank 1 6.00% $6,079
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $4,410
    BOKF 1 7.13% $18,205
    Bell Bank 1 6.38% $7,687
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $21,938
    Neighborhood Loans, Inc. 1 7.25% $6,157
    Barrington Bank & Trust Company, N.A. 1 7.25% $4,815
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $15,519
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $2,612
    PLANET HOME LENDING, LLC 1 6.25% $7,327
    PLAZA HOME MORTGAGE, INC. 1 5.25% $7,141
    Prosperity Home Mortgage, LLC 1 7.13% $8,678
    Azura Credit Union 1 7.63% $650
    SIRVA MORTGAGE, INC. 1 7.25% $5,680
    Arvest Bank 1 7.00% $1,531
    Equity Prime Mortgage LLC 1 6.63% $7,309
    CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $0
    DELMAR FINANCIAL COMPANY 1 7.25% $6,613
    GUARANTEED RATE, INC. 1 6.25% $6,832
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $5,494
    Ixonia Bank 1 6.75% $7,220

    The top Topeka VA lender as defined by loan originations is Mortgage Research Center, LLC, with 81 VA loans originated. Their average total fees are $5,131, which is $145 higher 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 ($4,332), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,986), Mortgage Research Center, LLC ($5,131), USAA Federal Savings Bank ($5,743) and Landmark National Bank ($5,890).

    The lowest rate Topeka VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (6.01%), QUICKEN LOANS, LLC (6.17%), USAA Federal Savings Bank (6.23%), UNITED WHOLESALE MORTGAGE, LLC (6.62%) and Mortgage Research Center, LLC (6.73%).

    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
    2024-01-01 $234,925 (-2.8%) $298,522 (-26.2%) 0.57 235
    2024-02-01 $236,175 (-3.4%) $298,598 (-20.1%) 0.57 236
    2024-03-01 $249,900 (-0.1%) $320,183 (-13.9%) 0.59 213
    2024-04-01 $255,000 (6.8%) $316,568 (-8.8%) 0.59 242
    2024-05-01 $279,000 (4.3%) $803,612 (123.8%) 0.63 253
    2024-06-01 $264,900 (-9.3%) $316,119 (-14.4%) 0.60 274
    2024-07-01 $249,900 (-10.7%) $304,563 (-16.2%) 0.57 283
    2024-08-01 $249,900 (-6.8%) $307,415 (-8.0%) 0.58 317
    2024-09-01 $245,550 (-1.8%) $306,473 (-6.5%) 0.58 319
    2024-10-01 $249,125 (6.9%) $292,936 (-4.3%) 0.59 352
    2024-11-01 $239,000 (4.0%) $275,803 (-5.0%) 0.57 390
    Topeka's median listing price for 2024-11-01 was $239,000, a difference of $9,200 (4.0%) versus the prior year and $-10,125 versus the prior month.

    Topeka's median listing price comes in at 57% of the national average.

    Topeka's average listing price for 2024-11-01 was $275,803, a difference of $-14,400 (-5.0%) versus the prior year and $-17,133 versus the prior month.

    For the 2024-11-01 period, Topeka had 390 MLS listings, a difference of 38 listings (11%) versus the prior month and 36 listings (10%) 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 1,774 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
    2024-01-01 57 days 1,768 sqft
    2024-02-01 50 days 1,810 sqft
    2024-03-01 38 days 1,835 sqft
    2024-04-01 32 days 1,828 sqft
    2024-05-01 30 days 1,908 sqft
    2024-06-01 26 days 1,885 sqft
    2024-07-01 36 days 1,820 sqft
    2024-08-01 37 days 1,892 sqft
    2024-09-01 38 days 1,877 sqft
    2024-10-01 37 days 1,837 sqft
    2024-11-01 40 days 1,723 sqft
    Topeka's median listing age (time on market) for 2024-11-01 was 40 days. This is 3% longer than the same period one year ago.

    Topeka's median square footage for active listings during the 2024-11-01 period was 1,723 sqft. One year prior, the average listing was 1,752 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.