Indiana VA Loan Rates, Closing Costs & Stats

Indiana

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.

Indiana VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Indiana averaged 6.67% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Indiana's average VA mortgage closing costs are $5,016.

The average rate for the prior week (2024-04-05) was 6.92% and one month ago for the week of 2024-03-08, the average rate was 6.45%.

The average rate one year ago was 6.05%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.25%.

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

Indiana 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 Indiana level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 1,472 6.81% $5,635
QUICKEN LOANS, LLC 451 6.23% $10,058
RUOFF MORTGAGE COMPANY, INC. 283 6.79% $4,651
UNITED WHOLESALE MORTGAGE, LLC 257 6.44% $8,436
NAVY FEDERAL CREDIT UNION 242 5.86% $5,146
FREEDOM MORTGAGE CORPORATION 240 6.58% $13,009
USAA Federal Savings Bank 163 6.43% $6,591
NEW DAY FINANCIAL, LLC 162 7.55% $11,623
GVC MORTGAGE, INC. 154 6.90% $6,596
PENNYMAC LOAN SERVICES, LLC 136 5.53% $6,849
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 136 6.98% $6,839
NEWREZ LLC 120 6.76% $7,293
LOANDEPOT.COM, LLC 113 6.27% $10,446
The Federal Savings Bank 99 6.49% $14,346
VANDERBILT MORTGAGE AND FINANCE, INC. 97 5.69% $6,653
CALIBER HOME LOANS, INC. 93 6.41% $5,969
CROSSCOUNTRY MORTGAGE, LLC 84 6.81% $8,359
DHI MORTGAGE COMPANY, LTD. 82 5.29% $6,721
HALLMARK HOME MORTGAGE, LLC 77 6.76% $7,540
EAGLE HOME MORTGAGE, LLC 72 5.33% $6,671
Barrington Bank & Trust Company, N.A. 68 6.42% $8,363
MORTGAGE MASTERS OF INDIANA, INC. 58 6.72% $4,348
MOVEMENT MORTGAGE, LLC 52 7.00% $6,434
MJW Financial LLC 52 6.58% $6,321
Nations Lending Corporation 51 7.07% $8,209
GUARANTEED RATE, INC. 50 6.40% $5,330
CARDINAL FINANCIAL 46 6.88% $7,602
AMERISAVE MORTGAGE CORPORATION 46 5.93% $14,210
UNION HOME MORTGAGE CORP. 45 6.87% $7,354
Mr. Cooper ( Nationstar Mortgage ) 45 6.04% $12,353
VILLAGE CAPITAL MORTGAGE 44 6.16% $9,566
JPMorgan Chase Bank 40 6.54% $5,394
MORTGAGE SOLUTIONS OF COLORADO, LLC 39 7.76% $2,657
THRIVE MORTGAGE, LLC 39 6.89% $5,770
Fifth Third Bank 37 6.36% $4,426
M/I FINANCIAL, LLC 33 5.64% $13,657
STOCKTON MORTGAGE CORPORATION 32 6.51% $7,232
Bank of England 31 6.68% $7,720
FIRST COMMUNITY MORTGAGE, INC. 30 6.79% $8,452
AMERICAN FINANCIAL NETWORK, INC. 30 6.94% $8,898
BROKER SOLUTIONS, INC. 30 6.71% $8,979
Wolfe Financial, Inc 29 7.14% $7,216
The Huntington National Bank 29 6.74% $5,397
NVR Mortgage Finance, Inc. 27 5.48% $9,855
Magnolia Bank 26 6.39% $14,341
PLAZA HOME MORTGAGE, INC. 26 6.79% $7,272
Northpointe Bank 25 6.27% $8,896
MUTUAL OF OMAHA MORTGAGE, INC. 25 6.33% $11,568
LOANPAL, LLC 24 5.95% $10,198
Paramount Residential Mortgage Group, Inc. 24 6.81% $6,302
Flagstar Bank, FSB 23 6.84% $6,591
DIRECT MORTGAGE LOANS, LLC 23 7.08% $14,780
PLANET HOME LENDING, LLC 21 6.16% $8,289
PENTAGON FEDERAL CREDIT UNION 21 5.80% $7,175
TUCKER MORTGAGE, LLC 20 6.69% $6,193
PULTE MORTGAGE LLC 19 5.84% $6,007
NBKC BANK 19 6.15% $6,050
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 19 6.89% $10,434
University Bank 18 6.18% $6,206
Mid-Continent Funding, Inc. 18 6.43% $7,193
LAKEVIEW LOAN SERVICING, LLC 18 6.29% $9,583
Equity Prime Mortgage LLC 17 6.79% $5,117
MILESTONE HOME LENDING, LLC 16 6.84% $9,791
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 15 6.88% $7,652
Prosperity Home Mortgage, LLC 15 6.34% $7,737
FIRST CENTENNIAL MORTGAGE CORPORATION 15 6.63% $4,831
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 14 6.60% $7,172
Century Mortgage Company DBA Century Lending Company 14 6.53% $7,370
MICHIGAN MUTUAL, INC. 14 7.02% $6,226
Sierra Pacific Mortgage Company, Inc. 14 6.58% $7,702
TEACHERS CREDIT UNION 13 6.52% $6,064
AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.84% $8,778
PNC Bank 13 6.51% $6,191
ROYAL UNITED MORTGAGE LLC 13 6.91% $10,988
Union Savings Bank 13 6.72% $3,298
Wells Fargo Bank 13 6.00% $4,562
RELIANCE FIRST CAPITAL, LLC 12 6.14% $8,800
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.70% $9,332
GUILD MORTGAGE COMPANY 11 6.59% $9,735
Servion, Inc. 11 6.01% $6,523
VICTORY MORTGAGE, L.L.C. 11 6.08% $6,168
SUN WEST MORTGAGE COMPANY, INC. 11 6.34% $6,207
POLARIS HOME FUNDING CORP. 10 6.96% $6,872
ENDEAVOR CAPITAL, LLC. 10 6.60% $7,194
GENEVA FINANCIAL, LLC 10 7.08% $7,386
CMG MORTGAGE, INC. 9 6.49% $7,617
SUCCESS MORTGAGE PARTNERS, INC. 9 6.83% $6,417
VAN DYK MORTGAGE CORPORATION 9 6.99% $4,470
CHURCHILL MORTGAGE CORPORATION 9 6.68% $8,420
LEADERONE FINANCIAL CORPORATION 9 7.14% $2,385
German American Bank 9 6.42% $4,252
V.I.P. MORTGAGE, INC. 9 6.68% $9,169
American Mortgage & Equity Consultants, Inc. 8 7.31% $5,018
FBC MORTGAGE, LLC 8 5.53% $8,861
Old National Bank 8 6.09% $4,842
Blue Ridge Bank 8 6.67% $11,171
U.S. Bank 8 6.89% $6,874
HOMESIDE FINANCIAL, LLC 8 6.61% $8,088
VERITAS FUNDING, LLC 8 6.87% $17,397
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.57% $7,752
INSPIRE HOME LOANS INC. 6 5.69% $8,801
INTERLINC MORTGAGE SERVICES, LLC 6 7.00% $7,603
EMM LOANS LLC 6 6.15% $11,871
DAS Acquisition Company, LLC 6 7.06% $5,242
Citizens Bank 6 6.52% $9,657
Armed Forces Bank 6 5.96% $8,922
Plains Commerce Bank 6 6.23% $9,755
NATIONS RELIABLE LENDING, LLC 6 6.94% $3,567
North American Savings Bank, F.S.B. 6 5.98% $7,163
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 7.38% $9,623
First Option Mortgage, LLC 6 6.81% $9,247
First Merchants Bank 6 6.63% $6,286
BNC National Bank 6 5.58% $10,527
FIRST EQUITY MORTGAGE INCORPORATED 6 6.14% $14,627
Elements Financial Federal Credit Union 6 6.44% $7,868
Regions Bank 6 6.06% $5,702
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.73% $1,766
1ST SIGNATURE LENDING, LLC 5 6.53% $10,329
ACADEMY MORTGAGE CORPORATION 5 6.63% $9,279
Centier Bank 5 6.60% $4,708
EVANSVILLE TEACHERS 5 6.85% $8,473
EVERETT FINANCIAL, INC. 5 7.20% $8,200
First Federal Bank 5 5.93% $5,952
First Savings Bank 5 6.43% $16,806
FLAT BRANCH MORTGAGE, INC. 5 6.68% $3,022
Northwest Bank 5 6.13% $5,352
Horizon Bank 5 6.68% $3,411
Ixonia Bank 5 7.53% $8,736
SOVEREIGN LENDING GROUP INCORPORATED 4 5.22% $15,141
The Central Trust Bank 4 5.34% $6,970
GUARANTY HOME MORTGAGE CORPORATION 4 6.44% $9,458
Residential Mortgage Solutions, Inc. 4 7.09% $10,862
FORUM Credit Union 4 6.38% $7,026
First Financial Bank 4 6.66% $7,913
FAIR WAY LENDING LLC 4 6.59% $5,441
EUSTIS AND AMERICAN MORTGAGE COMPANY 4 7.28% $4,598
Credence Funding Corporation 4 5.72% $4,070
Community First National Bank 4 5.94% $6,127
Advisors Mortgage Group, L.L.C. 4 6.97% $7,006
OPEN MORTGAGE, LLC 3 7.38% $8,579
BAYSHORE MORTGAGE FUNDING, LLC 3 7.71% $12,419
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.88% $5,221
AmeriHome Mortgage Company, LLC 3 6.46% $5,366
AMERICAN FINANCIAL RESOURCES, INC. 3 6.92% $6,282
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 6.46% $10,713
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.58% $7,682
PREMIA MORTGAGE, LLC 3 5.38% $11,781
AMERICAN FINANCING CORPORATION 3 6.75% $9,115
TOP FLITE FINANCIAL, INC. 3 6.54% $11,933
CORNERSTONE HOME LENDING, INC. 3 7.08% $4,410
Gateway First Bank 3 6.25% $2,620
PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.83% $8,787
PROPER RATE, LLC 2 6.75% $11,673
Ameris Bank 2 5.94% $10,180
Carrington Mortgage Services, LLC 2 5.88% $1,773
Cincinnati Federal 2 5.88% $3,012
Cornerstone First Mortgage, Inc 2 7.06% $8,860
DRAPER AND KRAMER MORTGAGE CORP. 2 6.06% $10,995
Encompass Lending Group, LP 2 7.69% $5,603
GSF Mortgage Corporation 2 5.81% $7,064
GUARANTEED RATE AFFINITY, LLC 2 6.51% $939
HOMESTEAD FUNDING CORP. 2 5.50% $1,457
INOVA FEDERAL CREDIT UNION 2 6.50% $1,990
KeyBank 2 6.69% $4,590
LAND HOME FINANCIAL SERVICES, INC. 2 6.75% $11,182
Meridian Bank Corporation 2 6.94% $4,414
MID AMERICA MORTGAGE, INC. 2 6.63% $3,089
MORTGAGE ACCESS CORP. 2 6.19% $21,296
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.88% $7,634
Neighborhood Loans, Inc. 2 7.12% $5,429
NFM, INC. 2 7.63% $8,526
SeaTrust Mortgage Company 2 6.37% $11,015
SIRVA MORTGAGE, INC. 2 6.00% $15,678
Strong Home Mortgage, LLC 2 6.38% $7,557
TOWNE MORTGAGE COMPANY 2 6.94% $5,599
UNITED HOME LOANS, INC. 2 6.56% $5,210
Waterstone Mortgage Corporation 2 7.00% $9,180
WesBanco 2 5.69% $5,578
MYCUMORTGAGE, LLC 1 7.63% $3,673
Republic Bank & Trust Company 1 6.75% $5,281
M&T Bank 1 6.25% $3,588
ROSS MORTGAGE CORPORATION 1 5.38% $14,282
Mortgage Assurance Inc. 1 6.25% $2,944
Midwest Mortgage Associates Corporation 1 6.63% $6,865
BM Real Estate Services, Inc. 1 7.25% $6,752
MIDLAND MORTGAGE CORPORATION 1 7.00% $11,764
MEMBER FIRST MORTGAGE, LLC 1 6.38% $3,406
Arvest Bank 1 6.50% $10,425
SOUTH CENTRAL BANK, INC. 1 6.75% $2,032
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.49% $6,008
Stifel Bank and Trust 1 6.25% $1,915
LOANFLIGHT LENDING, LLC 1 6.25% $7,536
Stock Yards Bank & Trust Company 1 6.00% $5,970
Academy Bank 1 5.63% $6,873
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.38% $8,208
SUMMIT FUNDING, INC. 1 6.99% $25,188
LCNB National Bank 1 6.75% $1,730
SWBC MORTGAGE CORPORATION 1 7.13% $26,085
LAKE MORTGAGE COMPANY INC 1 6.75% $1,828
THE ANDERSON FINANCIAL GROUP, INC. 1 6.63% $7,480
Key Mortgage Services, Inc. 1 6.50% $4,102
KELLER MORTGAGE, LLC 1 5.75% $1,222
INTERNATIONAL CITY MORTGAGE, INC. 1 6.00% $3,051
THE MORTGAGE WAREHOUSE,LLC 1 7.25% $7,780
The State Bank and Trust Company 1 6.75% $23,001
GREENSTATE CREDIT UNION 1 5.75% $3,718
GERSHMAN INVESTMENT CORP. 1 6.13% $1,009
ALLIED MORTGAGE GROUP, INC. 1 6.63% $6,764
Truist 1 5.75% $4,778
FIRST STATE MORTGAGE SERVICES, LLC 1 6.75% $2,386
First Harrison Bank 1 7.00% $6,581
First Financial Bank 1 7.13% $22,186
UNITED 1 6.75% $8,632
United Fidelity Funding Corp. 1 6.50% $9,393
ZILLOW HOME LOANS, LLC 1 6.38% $2,683
First Federal Savings and Loan Association of Lakewood 1 6.75% $7,482
FIDELITY BANK 1 7.25% $4,853
Farmers Bank & Trust 1 5.49% $1,500
EQUITY RESOURCES, INC. 1 5.75% $5,077
ENVOY MORTGAGE, LTD 1 6.75% $10,063
Citibank 1 6.00% $7,516
CIBM Bank 1 5.75% $6,681
Capital Bank 1 5.25% $10,053
Presidential Bank, FSB 1 5.75% $14,615
Paramount Bank 1 6.00% $19,767
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $4,987
Pacor Mortgage Corp 1 7.63% $14,937
NP, Inc. 1 5.75% $4,575
NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $1,585
NATIONS DIRECT MORTGAGE, LLC 1 5.50% $10,393

The top Indiana VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,472 VA loans originated. Their average total fees are $5,635, which is $4,423 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Indiana VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($2,657), Union Savings Bank ($3,298), MORTGAGE MASTERS OF INDIANA, INC. ($4,348), Fifth Third Bank ($4,426) and Wells Fargo Bank ($4,562).

The lowest rate Indiana VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.29%), EAGLE HOME MORTGAGE, LLC (5.33%), NVR Mortgage Finance, Inc. (5.48%), PENNYMAC LOAN SERVICES, LLC (5.53%) and M/I FINANCIAL, LLC (5.64%).

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.