Warsaw VA Loans

Warsaw, 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 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 37 lenders originated 149 VA loans during 2021. The total origination value was $35,995,000, with an average VA loan value of $241,577.

Warsaw VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Warsaw averaged 5.45% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

The average rate for the prior week (2022-07-29) was 5.6% and one month ago for the week of 2022-07-01, the average rate was 6.02%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.13%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Warsaw level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
RUOFF MORTGAGE COMPANY, INC. 17 3.26% $5,695
QUICKEN LOANS, LLC 14 2.48% $3,396
Mortgage Research Center, LLC 13 2.92% $7,230
FREEDOM MORTGAGE CORPORATION 11 2.64% $2,507
UNITED WHOLESALE MORTGAGE, LLC 7 2.58% $8,361
NAVY FEDERAL CREDIT UNION 7 2.50% $5,138
CALIBER HOME LOANS, INC. 6 2.69% $5,488
PENNYMAC LOAN SERVICES, LLC 4 2.50% $4,010
USAA Federal Savings Bank 4 2.88% $5,638
The Federal Savings Bank 4 2.50% $6,963
VILLAGE CAPITAL & INVESTMENT LLC 3 2.38% $3,133
LOANDEPOT.COM, LLC 3 2.58% $3,706
NEW DAY FINANCIAL, LLC 3 2.92% $9,216
BROKER SOLUTIONS, INC. 3 3.04% $24,726
Wells Fargo Bank 3 2.63% $3,347
Barrington Bank & Trust Company, N.A. 2 2.38% $3,252
NEWREZ LLC 2 2.99% $4,709
AMERICAN MORTGAGE SERVICE COMPANY 2 2.75% $7,893
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.38% $2,202
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.50% $3,510
AMERISAVE MORTGAGE CORPORATION 2 2.75% $3,491
Manufacturers and Traders Trust Company 1 3.13% $7,483
Blue Ridge Bank 1 2.75% $2,171
BNC National Bank 1 2.25% $2,880
CLEARPATH LENDING 1 2.25% $3,367
Fifth Third Bank 1 2.75% $6,654
GUARANTEED RATE, INC. 1 2.50% $1,216
GVC MORTGAGE, INC. 1 3.25% $31,727
Horizon Bank 1 3.25% $3,910
Magnolia Bank 1 2.50% $12,340
ACCELERATE MORTGAGE, LLC 1 1.75% $3,768
Mr. Cooper ( Nationstar Mortgage ) 1 2.25% $3,421
Nations Lending Corporation 1 3.13% $13,726
OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,061
SOVEREIGN LENDING GROUP INCORPORATED 1 2.38% $9,723
UNION HOME MORTGAGE CORP. 1 2.25% $4,145
VAN DYK MORTGAGE CORPORATION 1 3.50% $6,460

The top Warsaw VA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 17 VA loans originated. Their average total fees are $5,695, which is $2,299 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Warsaw VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,507), QUICKEN LOANS, LLC ($3,396), RUOFF MORTGAGE COMPANY, INC. ($5,695), Mortgage Research Center, LLC ($7,230) and .

The lowest rate Warsaw VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.48%), FREEDOM MORTGAGE CORPORATION (2.64%), Mortgage Research Center, LLC (2.92%), RUOFF MORTGAGE COMPANY, INC. (3.26%) and .

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.