Wooster VA Loan Rates, Closing Costs & Stats

Wooster, OH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Wooster's 32 lenders originated 78 VA loans during 2023. The total origination value was $18,910,000, with an average VA loan value of $242,436.

    Wooster VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wooster averaged 7.3% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Wooster's average VA mortgage closing costs are $5,315.

    The average rate for the prior week (2024-04-12) was 6.83% and one month ago for the week of 2024-03-15, the average rate was 6.69%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.74%.

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

    Wooster 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 Wooster level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 16 6.63% $7,229
    CROSSCOUNTRY MORTGAGE, LLC 7 6.86% $10,421
    NEW DAY FINANCIAL, LLC 6 7.31% $14,131
    NAVY FEDERAL CREDIT UNION 5 5.68% $9,650
    PENNYMAC LOAN SERVICES, LLC 4 5.75% $4,910
    QUICKEN LOANS, LLC 4 5.69% $9,532
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.38% $4,839
    USAA Federal Savings Bank 2 6.44% $5,787
    Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $6,878
    UNION HOME MORTGAGE CORP. 2 6.88% $7,699
    LOANDEPOT.COM, LLC 1 6.99% $8,307
    LOANPAL, LLC 1 5.63% $11,695
    Magnolia Bank 1 6.75% $15,078
    MID AMERICA MORTGAGE, INC. 1 5.63% $2,301
    FREEDOM MORTGAGE CORPORATION 1 6.25% $16,557
    UNITED WHOLESALE MORTGAGE, LLC 1 6.75% $4,910
    First Federal Bank 1 8.00% $13,045
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $8,083
    NEWREZ LLC 1 5.75% $15,088
    CITYWIDE HOME LOANS, LLC 1 5.63% $14,035
    PNC Bank 1 7.13% $3,136
    Barrington Bank & Trust Company, N.A. 1 7.25% $8,611
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $1,010
    Bank of England 1 6.75% $14,036
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $11,430
    RUOFF MORTGAGE COMPANY, INC. 1 7.00% $2,997
    Strong Home Mortgage, LLC 1 6.50% $9,630
    SUN WEST MORTGAGE COMPANY, INC. 1 6.83% $16,971
    The Huntington National Bank 1 6.88% $4,143
    American Midwest Mortgage Corporation 1 7.13% $3,556
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.63% $9,811
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $6,164

    The top Wooster VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $7,229, which is $3,192 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Wooster VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,229), .

    The lowest rate Wooster VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.63%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wooster (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 $162,814 (25.8%) $203,638 (18.3%) 0.00 158
    2018-02-01 $162,225 (20.2%) $210,323 (14.9%) 0.00 151
    2018-03-01 $159,950 (16.3%) $220,631 (17.0%) 0.00 157
    2018-04-01 $163,200 (16.6%) $214,410 (14.9%) 0.00 155
    2018-05-01 $159,900 (13.8%) $212,455 (15.6%) 0.00 171
    2018-06-01 $166,250 (16.3%) $221,145 (19.5%) 0.00 185
    2018-07-01 $164,950 (17.9%) $225,297 (23.6%) 0.00 187
    2018-08-01 $167,625 (11.8%) $216,148 (13.2%) 0.00 224
    2018-09-01 $165,000 (10.8%) $213,982 (10.7%) 0.00 215
    2018-10-01 $168,548 (12.9%) $214,069 (10.2%) 0.00 218
    2018-11-01 $173,425 (10.2%) $214,443 (9.1%) 0.00 209
    2018-12-01 $179,900 (14.1%) $223,546 (15.2%) 0.00 191
    2019-01-01 $179,900 (10.5%) $226,544 (11.3%) 0.00 171
    2019-02-01 $179,900 (10.9%) $230,964 (9.8%) 0.00 149
    2019-03-01 $195,400 (22.2%) $237,663 (7.7%) 0.00 145
    2019-04-01 $213,484 (30.8%) $241,968 (12.9%) 0.00 142
    2019-05-01 $175,000 (9.4%) $219,350 (3.3%) 0.00 152
    2019-06-01 $184,950 (11.3%) $234,367 (6.0%) 0.00 157
    2019-07-01 $180,250 (9.3%) $231,681 (2.8%) 0.00 173
    2019-08-01 $185,318 (10.6%) $228,965 (5.9%) 0.00 177
    2019-09-01 $179,795 (9.0%) $221,190 (3.4%) 0.00 175
    2019-10-01 $176,114 (4.5%) $214,846 (0.4%) 0.00 174
    2019-11-01 $175,500 (1.2%) $213,839 (-0.3%) 0.00 160
    2019-12-01 $171,175 (-4.9%) $207,622 (-7.1%) 0.00 155
    2020-01-01 $172,550 (-4.1%) $211,060 (-6.8%) 0.00 140
    2020-02-01 $165,000 (-8.3%) $208,272 (-9.8%) 0.00 128
    2020-03-01 $161,450 (-17.4%) $206,598 (-13.1%) 0.00 126
    2020-04-01 $167,400 (-21.6%) $207,756 (-14.1%) 0.00 110
    2020-05-01 $162,900 (-6.9%) $208,617 (-4.9%) 0.00 95
    2020-06-01 $186,225 (0.7%) $231,493 (-1.2%) 0.00 98
    2020-07-01 $202,150 (12.2%) $234,486 (1.2%) 0.00 97
    2020-08-01 $205,000 (10.6%) $227,265 (-0.7%) 0.00 100
    2020-09-01 $208,350 (15.9%) $244,402 (10.5%) 0.00 116
    2020-10-01 $189,950 (7.9%) $233,895 (8.9%) 0.00 108
    2020-11-01 $183,650 (4.6%) $228,706 (7.0%) 0.00 96
    2020-12-01 $178,450 (4.3%) $224,607 (8.2%) 0.00 94
    2021-01-01 $166,950 (-3.3%) $228,294 (8.2%) 0.00 82
    2021-02-01 $194,700 (18.0%) $253,736 (21.8%) 0.00 63
    2021-03-01 $182,000 (12.7%) $244,353 (18.3%) 0.00 49
    2021-04-01 $199,950 (19.4%) $253,647 (22.1%) 0.00 51
    2021-05-01 $200,000 (22.8%) $246,102 (18.0%) 0.00 59
    2021-06-01 $199,975 (7.4%) $233,334 (0.8%) 0.00 66
    2021-07-01 $215,000 (6.4%) $277,038 (18.2%) 0.00 82
    2021-08-01 $197,225 (-3.8%) $266,286 (17.2%) 0.00 82
    2021-09-01 $193,450 (-7.2%) $277,942 (13.7%) 0.00 73
    2021-10-01 $199,900 (5.2%) $270,703 (15.7%) 0.00 80
    2021-11-01 $199,000 (8.4%) $277,944 (21.5%) 0.00 75
    2021-12-01 $199,925 (12.0%) $279,629 (24.5%) 0.00 59
    2022-01-01 $229,000 (37.2%) $235,116 (3.0%) 0.00 72
    2022-02-01 $224,000 (15.1%) $264,947 (4.4%) 0.00 52
    2022-03-01 $221,465 (21.7%) $290,512 (18.9%) 0.00 47
    2022-04-01 $210,000 (5.0%) $269,803 (6.4%) 0.00 54
    2022-05-01 $223,575 (11.8%) $271,330 (10.3%) 0.00 62
    2022-06-01 $260,000 (30.0%) $277,387 (18.9%) 0.00 73
    2022-07-01 $255,900 (19.0%) $285,521 (3.1%) 0.00 83
    2022-08-01 $253,925 (28.8%) $285,278 (7.1%) 0.00 92
    2022-09-01 $229,500 (18.6%) $270,011 (-2.9%) 0.00 87
    2022-10-01 $223,700 (11.9%) $261,140 (-3.5%) 0.00 95
    2022-11-01 $235,000 (18.1%) $272,186 (-2.1%) 0.00 89
    2022-12-01 $225,000 (12.5%) $258,585 (-7.5%) 0.00 83
    2023-01-01 $229,600 (0.3%) $265,189 (12.8%) 0.00 71
    2023-02-01 $244,950 (9.4%) $267,582 (1.0%) 0.00 73
    2023-03-01 $256,225 (15.7%) $273,908 (-5.7%) 0.00 76
    2023-04-01 $239,450 (14.0%) $253,114 (-6.2%) 0.00 71
    2023-05-01 $251,700 (12.6%) $267,750 (-1.3%) 0.00 70
    2023-06-01 $267,950 (3.1%) $280,878 (1.3%) 0.00 80
    2023-07-01 $280,000 (9.4%) $306,102 (7.2%) 0.00 87
    2023-08-01 $287,500 (13.2%) $304,869 (6.9%) 0.00 99
    2023-09-01 $275,000 (19.8%) $292,560 (8.4%) 0.00 107
    2023-10-01 $267,450 (19.6%) $294,824 (12.9%) 0.00 124
    2023-11-01 $279,950 (19.1%) $322,426 (18.5%) 0.00 122
    2023-12-01 $277,450 (23.3%) $334,022 (29.2%) 0.00 109
    2024-01-01 $285,000 (24.1%) $343,089 (29.4%) 0.00 81
    2024-02-01 $299,000 (22.1%) $366,167 (36.8%) 0.00 64
    2024-03-01 $282,500 (10.3%) $367,231 (34.1%) 0.00 57
    Wooster's median listing price for 2024-03-01 was $282,500, a difference of $26,275 (10.3%) versus the prior year and $-16,500 versus the prior month.

    Wooster's median listing price comes in at 0% of the national average.

    Wooster's average listing price for 2024-03-01 was $367,231, a difference of $93,323 (34.1%) versus the prior year and $1,064 versus the prior month.

    For the 2024-03-01 period, Wooster had 57 MLS listings, a difference of -7 listings (-11%) versus the prior month and -19 listings (-25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wooster (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,464 sqft
    2018-02-01 0 days 1,460 sqft
    2018-03-01 0 days 1,456 sqft
    2018-04-01 0 days 1,488 sqft
    2018-05-01 0 days 1,500 sqft
    2018-06-01 0 days 1,528 sqft
    2018-07-01 0 days 1,783 sqft
    2018-08-01 0 days 1,773 sqft
    2018-09-01 0 days 1,822 sqft
    2018-10-01 0 days 1,822 sqft
    2018-11-01 0 days 1,802 sqft
    2018-12-01 0 days 1,864 sqft
    2019-01-01 0 days 1,778 sqft
    2019-02-01 0 days 1,688 sqft
    2019-03-01 0 days 1,697 sqft
    2019-04-01 0 days 1,732 sqft
    2019-05-01 0 days 1,577 sqft
    2019-06-01 0 days 1,670 sqft
    2019-07-01 0 days 1,617 sqft
    2019-08-01 0 days 1,645 sqft
    2019-09-01 0 days 1,685 sqft
    2019-10-01 0 days 1,712 sqft
    2019-11-01 0 days 1,676 sqft
    2019-12-01 0 days 1,672 sqft
    2020-01-01 0 days 1,639 sqft
    2020-02-01 0 days 1,617 sqft
    2020-03-01 0 days 1,626 sqft
    2020-04-01 0 days 1,612 sqft
    2020-05-01 0 days 1,698 sqft
    2020-06-01 0 days 1,695 sqft
    2020-07-01 0 days 1,719 sqft
    2020-08-01 0 days 1,724 sqft
    2020-09-01 0 days 1,750 sqft
    2020-10-01 0 days 1,746 sqft
    2020-11-01 0 days 1,700 sqft
    2020-12-01 0 days 1,712 sqft
    2021-01-01 0 days 1,665 sqft
    2021-02-01 0 days 1,628 sqft
    2021-03-01 0 days 1,615 sqft
    2021-04-01 0 days 1,626 sqft
    2021-05-01 0 days 1,580 sqft
    2021-06-01 0 days 1,592 sqft
    2021-07-01 0 days 1,718 sqft
    2021-08-01 0 days 1,645 sqft
    2021-09-01 0 days 1,718 sqft
    2021-10-01 0 days 1,731 sqft
    2021-11-01 0 days 1,739 sqft
    2021-12-01 0 days 1,675 sqft
    2022-01-01 0 days 1,620 sqft
    2022-02-01 0 days 1,620 sqft
    2022-03-01 0 days 1,713 sqft
    2022-04-01 0 days 1,743 sqft
    2022-05-01 0 days 1,747 sqft
    2022-06-01 0 days 1,867 sqft
    2022-07-01 0 days 1,966 sqft
    2022-08-01 0 days 2,005 sqft
    2022-09-01 0 days 1,809 sqft
    2022-10-01 0 days 1,776 sqft
    2022-11-01 0 days 1,823 sqft
    2022-12-01 0 days 1,672 sqft
    2023-01-01 0 days 1,775 sqft
    2023-02-01 0 days 1,793 sqft
    2023-03-01 0 days 1,967 sqft
    2023-04-01 0 days 1,881 sqft
    2023-05-01 0 days 1,899 sqft
    2023-06-01 0 days 1,891 sqft
    2023-07-01 0 days 2,013 sqft
    2023-08-01 0 days 2,026 sqft
    2023-09-01 0 days 1,942 sqft
    2023-10-01 0 days 1,932 sqft
    2023-11-01 0 days 1,907 sqft
    2023-12-01 0 days 1,884 sqft
    2024-01-01 0 days 1,867 sqft
    2024-02-01 0 days 1,910 sqft
    2024-03-01 0 days 2,011 sqft
    Wooster's median listing age (time on market) for 2024-03-01 was 0 days.

    Wooster's median square footage for active listings during the 2024-03-01 period was 2,011 sqft. One year prior, the average listing was 1,967 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.