Indiana VA Loan Rates, Closing Costs & Stats

Indiana

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    • 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 6.97% 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 6.82% and one month ago for the week of 2024-03-08, the average rate was 6.45%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.95%.

    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.