Warsaw VA Loan Rates, Closing Costs & Stats

Warsaw, IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Warsaw's 22 lenders originated 52 VA loans during 2023. The total origination value was $13,700,000, with an average VA loan value of $263,462.

    Warsaw VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Warsaw averaged 6.93% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Warsaw's average VA mortgage closing costs are $5,242.

    The average rate for the prior week (2024-11-01) was 6.78% and one month ago for the week of 2024-10-04, the average rate was 6.21%.

    The average rate one year ago was 7.87%.

    For refis of the same type during the week of 2024-11-08, the average rate was 7.56%.

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

    Warsaw 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 Warsaw level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 14 6.74% $6,175
    RUOFF MORTGAGE COMPANY, INC. 9 7.10% $4,014
    CARDINAL FINANCIAL 4 7.00% $9,209
    QUICKEN LOANS, LLC 3 6.25% $7,019
    Barrington Bank & Trust Company, N.A. 2 6.25% $9,145
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $2,208
    FREEDOM MORTGAGE CORPORATION 2 6.50% $19,179
    NAVY FEDERAL CREDIT UNION 1 6.00% $2,153
    PENNYMAC LOAN SERVICES, LLC 1 5.50% $15,503
    SUN WEST MORTGAGE COMPANY, INC. 1 5.72% $8,248
    TEACHERS CREDIT UNION 1 6.75% $5,940
    UNITED WHOLESALE MORTGAGE, LLC 1 6.60% $18,599
    USAA Federal Savings Bank 1 7.13% $5,090
    VAN DYK MORTGAGE CORPORATION 1 7.00% $1,404
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.38% $4,320
    VILLAGE CAPITAL MORTGAGE 1 5.75% $2,465
    CROSSCOUNTRY MORTGAGE, LLC 1 7.19% $6,596
    GENEVA FINANCIAL, LLC 1 7.25% $14,042
    HALLMARK HOME MORTGAGE, LLC 1 7.25% $3,006
    Horizon Bank 1 7.00% $1,508
    Mid-Continent Funding, Inc. 1 5.99% $2,952
    MOVEMENT MORTGAGE, LLC 1 7.13% $21,088

    The top Warsaw VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $6,175, which is $2,162 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

    The lowest fee Warsaw VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,175), .

    The lowest rate Warsaw VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.74%), .

    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.