Indiana VA Loan Rates, Closing Costs & Stats

Indiana

  • 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.

    Indiana VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Indiana averaged 6.42% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Indiana's average VA mortgage closing costs are $4,761.

    The average rate for the prior week (2023-05-19) was 6.15% and one month ago for the week of 2023-04-21, the average rate was 6.37%.

    The average rate one year ago was 5.14%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.24%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 1,709 5.21% $5,760
    QUICKEN LOANS, LLC 689 4.27% $9,308
    FREEDOM MORTGAGE CORPORATION 516 4.44% $9,141
    RUOFF MORTGAGE COMPANY, INC. 374 5.08% $6,040
    UNITED WHOLESALE MORTGAGE, LLC 349 4.42% $7,136
    NEW DAY FINANCIAL, LLC 338 5.16% $9,263
    CALIBER HOME LOANS, INC. 295 4.80% $6,914
    USAA Federal Savings Bank 291 4.59% $6,512
    NAVY FEDERAL CREDIT UNION 282 4.00% $5,152
    LOANDEPOT.COM, LLC 216 4.36% $7,625
    GVC MORTGAGE, INC. 213 5.13% $7,002
    PENNYMAC LOAN SERVICES, LLC 200 3.77% $7,592
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 171 5.03% $6,968
    The Federal Savings Bank 127 4.85% $12,851
    Mr. Cooper ( Nationstar Mortgage ) 123 4.98% $8,327
    HALLMARK HOME MORTGAGE, LLC 117 4.94% $8,860
    CROSSCOUNTRY MORTGAGE, LLC 101 5.05% $8,239
    DHI MORTGAGE COMPANY, LTD. 92 4.18% $7,516
    Barrington Bank & Trust Company, N.A. 84 4.92% $7,130
    Flagstar Bank, FSB 82 4.95% $8,192
    NEWREZ LLC 78 4.54% $6,875
    HOME POINT FINANCIAL CORPORATION 75 4.49% $7,379
    UNION HOME MORTGAGE CORP. 74 5.11% $7,500
    AMERISAVE MORTGAGE CORPORATION 72 4.19% $8,880
    VANDERBILT MORTGAGE AND FINANCE, INC. 72 5.18% $6,694
    GUARANTEED RATE, INC. 70 4.71% $6,258
    LAKEVIEW LOAN SERVICING, LLC 64 3.85% $5,279
    VILLAGE CAPITAL MORTGAGE 64 3.90% $6,925
    CARDINAL FINANCIAL 61 4.94% $10,196
    MJW Financial LLC 60 4.67% $6,992
    CLEARPATH LENDING 58 3.92% $10,621
    PRIMELENDING, A PLAINSCAPITAL COMPANY 55 4.94% $7,649
    MORTGAGE MASTERS OF INDIANA, INC. 53 4.87% $5,498
    EAGLE HOME MORTGAGE, LLC 52 4.04% $7,364
    NVR Mortgage Finance, Inc. 52 3.91% $8,866
    Carrington Mortgage Services, LLC 48 4.68% $7,586
    MOVEMENT MORTGAGE, LLC 47 5.31% $5,581
    AMERICAN MORTGAGE SERVICE COMPANY 44 4.66% $7,475
    BROKER SOLUTIONS, INC. 41 5.11% $9,646
    Fifth Third Bank 39 4.48% $4,593
    PLAZA HOME MORTGAGE, INC. 38 4.96% $6,945
    PENTAGON FEDERAL CREDIT UNION 37 3.54% $6,448
    PLANET HOME LENDING, LLC 37 4.02% $6,614
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 36 5.15% $6,696
    MUTUAL OF OMAHA MORTGAGE, INC. 36 4.16% $9,689
    Wells Fargo Bank 35 4.08% $4,826
    Nations Lending Corporation 34 5.53% $8,856
    M/I FINANCIAL, LLC 33 4.40% $7,414
    Mid-Continent Funding, Inc. 31 5.29% $7,642
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 30 5.39% $8,284
    AMERIFIRST FINANCIAL CORPORATION 29 5.12% $9,518
    AMERICAN PACIFIC MORTGAGE CORPORATION 28 5.23% $8,188
    PULTE MORTGAGE LLC 28 4.45% $5,759
    JPMorgan Chase Bank 28 4.64% $6,131
    DIRECT MORTGAGE LOANS, LLC 26 5.15% $11,186
    Bank of England 26 5.11% $8,623
    LOANPAL, LLC 24 4.35% $8,854
    Magnolia Bank 23 4.57% $11,074
    TUCKER MORTGAGE, LLC 23 4.74% $6,106
    Century Mortgage Company DBA Century Lending Company 22 4.74% $7,165
    CMG MORTGAGE, INC. 22 4.61% $7,645
    PNC Bank 22 4.55% $4,843
    Northpointe Bank 21 4.99% $7,422
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 20 5.03% $6,677
    Wolfe Financial, Inc 20 4.95% $5,121
    STOCKTON MORTGAGE CORPORATION 18 4.87% $7,822
    Low VA Rates, LLC 18 4.23% $10,150
    HANCOCK MORTGAGE PARTNERS, LLC 18 5.66% $11,037
    Equity Prime Mortgage LLC 18 5.40% $7,049
    HOMEBRIDGE FINANCIAL SERVICES, INC. 17 4.85% $8,015
    EVANSVILLE TEACHERS 17 4.88% $6,112
    VICTORY MORTGAGE, L.L.C. 17 4.55% $8,214
    RELIANCE FIRST CAPITAL, LLC 17 4.79% $7,493
    V.I.P. MORTGAGE, INC. 17 5.46% $9,806
    ROYAL UNITED MORTGAGE LLC 16 5.23% $11,868
    Regions Bank 16 4.66% $4,762
    North American Savings Bank, F.S.B. 16 4.91% $4,689
    FBC MORTGAGE, LLC 16 4.82% $8,091
    The Huntington National Bank 16 4.86% $5,061
    MORTGAGE SOLUTIONS OF COLORADO, LLC 16 5.88% $6,495
    FIRST CENTENNIAL MORTGAGE CORPORATION 15 5.61% $6,200
    NBKC BANK 15 4.02% $7,271
    AMERICAN FINANCING CORPORATION 15 4.22% $6,898
    NATIONS RELIABLE LENDING, LLC 15 5.35% $6,065
    HOMESIDE FINANCIAL, LLC 14 4.54% $8,203
    GENEVA FINANCIAL, LLC 14 5.22% $6,244
    INSPIRE HOME LOANS INC. 13 5.13% $4,510
    SUN WEST MORTGAGE COMPANY, INC. 13 4.73% $9,175
    Citizens Bank 13 5.12% $7,732
    PRIMARY RESIDENTIAL MORTGAGE, INC. 13 5.60% $10,478
    LEADERONE FINANCIAL CORPORATION 13 4.61% $8,111
    POLARIS HOME FUNDING CORP. 12 5.17% $8,373
    FLAT BRANCH MORTGAGE, INC. 12 4.44% $3,455
    EVERETT FINANCIAL, INC. 12 5.35% $6,031
    ACADEMY MORTGAGE CORPORATION 12 5.06% $6,628
    Servion, Inc. 12 4.26% $6,840
    The Home Loan Expert LLC 12 4.31% $8,398
    UNIVERSITY LENDING GROUP, LLC 11 4.34% $12,143
    TEACHERS CREDIT UNION 11 4.93% $5,077
    M&T Bank 11 4.56% $6,957
    Old National Bank 11 5.25% $6,011
    Hometown Lenders, Inc. 11 4.80% $8,504
    First Guaranty Mortgage Corporation 10 3.90% $7,536
    OPEN MORTGAGE, LLC 10 5.13% $8,882
    INTERLINC MORTGAGE SERVICES, LLC 10 5.19% $6,856
    THRIVE MORTGAGE, LLC 9 5.82% $7,248
    MILESTONE HOME LENDING, LLC 9 5.08% $7,152
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 9 4.61% $7,813
    U.S. Bank 9 5.21% $8,557
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 9 4.61% $7,885
    Prosperity Home Mortgage, LLC 9 5.12% $7,350
    Armed Forces Bank 9 4.33% $5,182
    VAN DYK MORTGAGE CORPORATION 9 4.78% $5,164
    FINANCE OF AMERICA MORTGAGE LLC 9 4.67% $10,109
    FAIR WAY LENDING LLC 9 4.68% $6,018
    Horizon Bank 9 5.32% $5,119
    BNC National Bank 8 4.33% $8,585
    Union Savings Bank 8 4.86% $3,590
    SOVEREIGN LENDING GROUP INCORPORATED 8 4.02% $9,421
    First Option Mortgage, LLC 8 5.28% $11,661
    First Merchants Bank 8 5.11% $3,691
    First Financial Bank 8 5.25% $7,927
    MID AMERICA MORTGAGE, INC. 8 3.89% $2,722
    Texana Bank 8 4.33% $12,646
    German American Bank 8 4.27% $4,324
    NETWORK CAPITAL FUNDING CORPORATION 7 4.38% $8,399
    ENVOY MORTGAGE, LTD 7 5.16% $7,723
    EUSTIS AND AMERICAN MORTGAGE COMPANY 7 4.55% $6,399
    First Federal Bank 7 5.89% $8,204
    First Financial Bank 7 5.02% $5,719
    VERITAS FUNDING, LLC 7 5.00% $23,436
    CHERRY CREEK MORTGAGE, LLC 6 4.15% $1,528
    GUARANTEED RATE AFFINITY, LLC 6 5.12% $2,940
    Paramount Residential Mortgage Group, Inc. 6 5.25% $8,814
    Republic Bank & Trust Company 6 4.08% $4,017
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 5.00% $9,796
    Flanagan State Bank 6 5.50% $4,211
    FIRST COMMUNITY MORTGAGE, INC. 6 5.60% $8,728
    1ST SIGNATURE LENDING, LLC 6 5.31% $7,092
    MICHIGAN MUTUAL, INC. 6 4.88% $5,044
    CHURCHILL MORTGAGE CORPORATION 6 5.38% $8,673
    Blue Ridge Bank 6 5.21% $9,339
    KELLER MORTGAGE, LLC 5 4.60% $4,431
    GUARANTY HOME MORTGAGE CORPORATION 5 4.20% $10,765
    Sierra Pacific Mortgage Company, Inc. 5 4.45% $5,480
    Gateway First Bank 5 4.85% $4,088
    AMCAP MORTGAGE, LTD. 5 6.20% $12,225
    University Bank 5 6.00% $6,677
    Elements Financial Federal Credit Union 5 5.30% $6,680
    DRAPER AND KRAMER MORTGAGE CORP. 5 4.88% $8,311
    AMERICAN FINANCIAL RESOURCES, INC. 5 4.90% $6,181
    KeyBank 5 4.30% $2,098
    FIRST EQUITY MORTGAGE INCORPORATED 5 3.68% $9,699
    NP, Inc. 5 2.58% $5,775
    MYCUMORTGAGE, LLC 5 4.83% $3,553
    First Savings Bank 4 4.25% $7,854
    GUILD MORTGAGE COMPANY 4 5.44% $5,503
    BAYSHORE MORTGAGE FUNDING, LLC 4 5.25% $10,625
    Waterstone Mortgage Corporation 4 5.03% $4,110
    Wyndham Capital Mortgage, Inc. 4 4.75% $7,510
    Sunflower Bank 3 4.20% $11,240
    Neighborhood Loans, Inc. 3 5.54% $7,685
    SIRVA MORTGAGE, INC. 3 4.92% $7,602
    SOUTHWEST FUNDING, LP 3 6.88% $6,238
    SOUTHWEST STAGE FUNDING, LLC 3 4.79% $2,515
    Centier Bank 3 5.08% $5,942
    Strong Home Mortgage, LLC 3 4.29% $2,200
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.96% $9,250
    EQUITY RESOURCES, INC. 3 5.71% $5,085
    ENDEAVOR CAPITAL, LLC. 3 4.42% $11,914
    Northwest Bank 3 4.46% $8,479
    The Central Trust Bank 3 3.79% $8,728
    OCEANSIDE MORTGAGE COMPANY 3 4.63% $5,962
    The Union Bank Company 3 3.63% $9,396
    EMM LOANS LLC 3 4.54% $8,687
    TOP FLITE FINANCIAL, INC. 3 5.33% $21,449
    Truist 3 4.58% $6,180
    Atlantic Union Bank 3 5.13% $12,429
    PHH Mortgage Corporation 3 4.46% $6,231
    Plains Commerce Bank 3 5.42% $9,670
    1st Source Bank 3 6.04% $8,301
    First Internet Bank of Indiana 3 6.04% $6,178
    LOANFLIGHT LENDING, LLC 3 3.17% $6,260
    PREMIA MORTGAGE, LLC 3 4.71% $7,940
    PROPER RATE, LLC 3 5.02% $1,725
    RAPID MORTGAGE COMPANY 3 5.00% $9,962
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.44% $15,503
    EMBRACE HOME LOANS, INC. 2 5.13% $6,464
    THE MORTGAGE WAREHOUSE,LLC 2 4.13% $1,688
    LAKE MORTGAGE COMPANY INC 2 4.94% $4,319
    FirstBank 2 3.25% $2,661
    Residential Mortgage Solutions, Inc. 2 5.81% $14,923
    First Home Bank 2 5.75% $10,611
    BAY EQUITY LLC 2 5.69% $10,800
    CIBM Bank 2 4.63% $6,219
    GSF Mortgage Corporation 2 7.06% $14,412
    ZILLOW HOME LOANS, LLC 2 3.19% $6,418
    Peoples Bank 2 5.31% $13,301
    Paramount Bank 2 4.56% $12,525
    JAMES B. NUTTER & COMPANY 2 5.25% $7,214
    PANORAMA MORTGAGE GROUP, LLC 2 6.44% $7,238
    Notre Dame Federal Credit Union Corporation 2 3.63% $5,299
    DAS Acquisition Company, LLC 2 5.06% $5,871
    LAND HOME FINANCIAL SERVICES, INC. 1 5.75% $6,548
    LIBERTY HOME MORTGAGE CORPORATION 1 3.00% $3,252
    Key Mortgage Services, Inc. 1 5.25% $3,844
    MEMBER FIRST MORTGAGE, LLC 1 3.50% $5,403
    INTERCAP LENDING INC. 1 2.75% $11,694
    MIDLAND MORTGAGE CORPORATION 1 4.25% $12,385
    HOMESTAR FINANCIAL CORPORATION 1 5.25% $7,902
    Mutual Federal Bank 1 5.00% $6,500
    NATIONS DIRECT MORTGAGE, LLC 1 4.50% $1,294
    First Federal Bank of Kansas City 1 2.63% $2,649
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $18,450
    NBH Bank 1 3.88% $3,075
    121 FINANCIAL 1 5.13% $24,792
    FEDEX EMPLOYEES CREDIT ASSOCIATION 1 3.50% $6,131
    FCB Banks 1 3.25% $2,729
    NFM, INC. 1 7.13% $11,992
    Encompass Lending Group, LP 1 4.99% $4,464
    Pacor Mortgage Corp 1 4.75% $4,247
    Pinnacle Bank 1 4.25% $3,024
    CRESCENT MORTGAGE COMPANY 1 3.13% $1,411
    Countybank 1 4.99% $15,504
    Cornerstone First Mortgage, Inc 1 3.00% $15,897
    COMMUNITYAMERICA 1 5.63% $5,260
    Colten Mortgage, LLC 1 4.25% $8,922
    Colonial Savings, F.A. 1 3.50% $17,265
    Civista Bank 1 5.63% $1,823
    CityWorth Mortgage LLC 1 3.88% $22,957
    RANLIFE, INC. 1 7.13% $4,371
    City National Bank of Florida 1 4.50% $0
    Cincinnati Federal 1 6.63% $2,910
    ROSS MORTGAGE CORPORATION 1 5.50% $6,600
    S1L, Inc. 1 7.00% $4,356
    SeaTrust Mortgage Company 1 6.75% $11,033
    Semper Home Loans, Inc. 1 3.00% $6,013
    CapStar Bank 1 3.50% $2,536
    Stock Yards Bank & Trust Company 1 3.25% $1,678
    SUMMIT FUNDING, INC. 1 3.63% $13,862
    Capital Bank 1 2.25% $1,591
    T2 FINANCIAL LLC 1 4.25% $9,979
    CANOPY MORTGAGE, LLC 1 3.25% $11,235
    TEXAS TECH 1 5.75% $10,193
    BLUELEAF LENDING, LLC 1 5.50% $2,347
    The State Bank and Trust Company 1 5.00% $7,509
    Austin Capital Bank SSB 1 5.75% $9,510
    Arvest Bank 1 5.00% $12,607
    United Fidelity Funding Corp. 1 7.25% $6,220
    UNITED MORTGAGE CORP. 1 5.25% $6,695
    UNITED SECURITY FINANCIAL CORP 1 5.50% $12,730
    Arbor Bank 1 5.99% $8,149
    ANGEL OAK HOME LOANS LLC 1 6.50% $4,366
    Amerifirst Financial, Inc. 1 5.25% $5,739
    American Mortgage & Equity Consultants, Inc. 1 5.63% $638
    US MORTGAGE CORPORATION 1 5.00% $10,269
    AMERICAN INTERNET MORTGAGE, INC. 1 4.13% $15,300
    AMERICAN ADVISORS GROUP 1 3.25% $13,093
    AHL FUNDING 1 4.13% $6,560
    WINTERWOOD MORTGAGE GROUP, LLC 1 2.50% $3,772
    WRIGHT-PATT CREDIT UNION, INC. 1 3.50% $2,984
    LEGEND LENDING CORPORATION 1 6.50% $4,205

    The top Indiana VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1,709 VA loans originated. Their average total fees are $5,760, which is $3,548 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Indiana VA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($3,455), INSPIRE HOME LOANS INC. ($4,510), Fifth Third Bank ($4,593), North American Savings Bank, F.S.B. ($4,689) and Regions Bank ($4,762).

    The lowest rate Indiana VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.54%), PENNYMAC LOAN SERVICES, LLC (3.77%), LAKEVIEW LOAN SERVICING, LLC (3.85%), VILLAGE CAPITAL MORTGAGE (3.90%) and First Guaranty Mortgage Corporation (3.90%).

    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.