Wooster VA Loan Rates, Closing Costs & Stats

Wooster, OH

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 0.34% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.91% and one month ago for the week of 2024-10-25, the average rate was 6.5%.

The average rate one year ago was 7.05%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.78%.

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
2024-04-01 $286,225 (19.5%) $361,022 (42.6%) 0.00 63
2024-05-01 $342,450 (36.1%) $418,738 (56.4%) 0.00 68
2024-06-01 $324,500 (21.1%) $379,158 (35.0%) 0.00 91
2024-07-01 $307,450 (9.8%) $337,154 (10.1%) 0.00 106
2024-08-01 $295,000 (2.6%) $320,035 (5.0%) 0.00 98
2024-09-01 $281,000 (2.2%) $308,388 (5.4%) 0.00 106
2024-10-01 $272,975 (2.1%) $298,624 (1.3%) 0.00 123
Wooster's median listing price for 2024-10-01 was $272,975, a difference of $5,525 (2.1%) versus the prior year and $-8,025 versus the prior month.

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

Wooster's average listing price for 2024-10-01 was $298,624, a difference of $3,800 (1.3%) versus the prior year and $-9,764 versus the prior month.

For the 2024-10-01 period, Wooster had 123 MLS listings, a difference of 17 listings (16%) versus the prior month and -1 listings (-1%) 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 1,929 sqft
2024-03-01 0 days 2,017 sqft
2024-04-01 0 days 1,857 sqft
2024-05-01 0 days 2,143 sqft
2024-06-01 0 days 1,998 sqft
2024-07-01 0 days 1,819 sqft
2024-08-01 0 days 1,749 sqft
2024-09-01 0 days 1,780 sqft
2024-10-01 0 days 1,734 sqft
Wooster's median listing age (time on market) for 2024-10-01 was 0 days.

Wooster's median square footage for active listings during the 2024-10-01 period was 1,734 sqft. One year prior, the average listing was 1,932 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.