Wabash VA Loan Rates, Closing Costs & Stats
Wabash, 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.
Wabash's 22 lenders originated 37 VA loans during 2023. The total origination value was $7,265,000, with an average VA loan value of $196,351.
Wabash VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Wabash
averaged
6.65%
for the week of 2024-11-08, compared to the national average (all VA variants) of
6.34% for the same period.
Wabash's average VA mortgage closing costs are $3,903.
The average rate for the prior week (2024-11-01) was
6.81% and
one month ago for the week of 2024-10-04, the
average rate was 6.13%.
The average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.24%.
Wabash 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 Wabash level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 8 | 7.06% | $4,312 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 5.75% | $6,948 |
| NEWREZ LLC | 3 | 7.17% | $8,804 |
| UNION HOME MORTGAGE CORP. | 2 | 6.94% | $4,062 |
| USAA Federal Savings Bank | 2 | 6.00% | $6,814 |
| RUOFF MORTGAGE COMPANY, INC. | 2 | 6.19% | $3,834 |
| LOANDEPOT.COM, LLC | 1 | 7.63% | $7,024 |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | 1 | 7.75% | $595 |
| MOVEMENT MORTGAGE, LLC | 1 | 7.25% | $2,271 |
| NAVY FEDERAL CREDIT UNION | 1 | 6.38% | $1,622 |
| NBKC BANK | 1 | 7.00% | $160 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 5.25% | $10,202 |
| QUICKEN LOANS, LLC | 1 | 5.99% | $6,172 |
| The Federal Savings Bank | 1 | 6.75% | $7,178 |
| VILLAGE CAPITAL MORTGAGE | 1 | 6.25% | $6,884 |
| Barrington Bank & Trust Company, N.A. | 1 | 7.25% | $2,878 |
| Waterstone Mortgage Corporation | 1 | 7.13% | $6,288 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.13% | $5,432 |
| FIDELITY BANK | 1 | 7.25% | $4,853 |
| Flagstar Bank, FSB | 1 | 7.75% | $10,047 |
| FREEDOM MORTGAGE CORPORATION | 1 | 7.25% | $7,539 |
| GUARANTEED RATE, INC. | 1 | 7.25% | $0 |
The top Wabash VA lender as defined by loan originations is Mortgage Research Center, LLC, with
8 VA loans originated. Their average total fees are
$4,312, which is $2,636
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Wabash VA lenders (with over 10 loans originated) are
.
The lowest rate Wabash VA lenders (with over 10 loans originated) are
.