Alma VA Loan Rates, Closing Costs & Stats

Alma, MI

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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.

    Alma's 16 lenders originated 35 VA loans during 2023. The total origination value was $6,315,000, with an average VA loan value of $180,429.

    Alma VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Alma averaged 6.34% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Alma's average VA mortgage closing costs are $4,093.

    The average rate for the prior week (2024-12-06) was 6.68% and one month ago for the week of 2024-11-08, the average rate was 6.57%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Alma 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 Alma level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 10 7.15% $3,041
    PENNYMAC LOAN SERVICES, LLC 3 5.58% $3,514
    ACADEMY MORTGAGE CORPORATION 2 7.00% $3,974
    CROSSCOUNTRY MORTGAGE, LLC 2 6.91% $4,308
    NAVY FEDERAL CREDIT UNION 2 5.50% $5,448
    UNITED WHOLESALE MORTGAGE, LLC 2 6.83% $4,155
    USAA Federal Savings Bank 2 5.88% $9,734
    The Dart Bank 1 6.25% $5,047
    NEW DAY FINANCIAL, LLC 1 8.25% $9,343
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $6,133
    PLAZA HOME MORTGAGE, INC. 1 7.25% $5,594
    QUICKEN LOANS, LLC 1 6.63% $7,352
    RUOFF MORTGAGE COMPANY, INC. 1 6.13% $8,528
    LOANDEPOT.COM, LLC 1 8.13% $6,768
    MMS MORTGAGE SERVICES, LTD. 1 7.25% $5,594
    BM Real Estate Services, Inc. 1 7.25% $10,942

    The top Alma VA lender as defined by loan originations is Mortgage Research Center, LLC, with 10 VA loans originated. Their average total fees are $3,041, which is $473 lower than the next largest lender, PENNYMAC LOAN SERVICES, LLC.

    The lowest fee Alma VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,041), .

    The lowest rate Alma VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.15%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alma (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 $87,400 (-12.5%) $112,982 (-10.1%) 0.00 135
    2018-02-01 $84,675 (-15.2%) $114,882 (-6.0%) 0.00 132
    2018-03-01 $82,450 (-17.4%) $115,176 (-9.6%) 0.00 141
    2018-04-01 $84,450 (-16.8%) $115,644 (-10.4%) 0.00 141
    2018-05-01 $89,075 (-10.8%) $126,365 (-1.7%) 0.00 146
    2018-06-01 $94,900 (-3.7%) $135,945 (5.6%) 0.00 153
    2018-07-01 $97,175 (-1.8%) $134,250 (4.3%) 0.00 163
    2018-08-01 $105,000 (5.1%) $145,598 (12.3%) 0.00 161
    2018-09-01 $105,000 (3.5%) $143,891 (10.7%) 0.00 154
    2018-10-01 $102,450 (2.6%) $145,120 (14.1%) 0.00 156
    2018-11-01 $97,125 (6.2%) $133,685 (9.5%) 0.00 154
    2018-12-01 $88,900 (-1.1%) $126,798 (10.5%) 0.00 146
    2019-01-01 $88,800 (1.6%) $127,448 (12.8%) 0.00 136
    2019-02-01 $87,450 (3.3%) $127,097 (10.6%) 0.00 130
    2019-03-01 $89,386 (8.4%) $122,859 (6.7%) 0.00 128
    2019-04-01 $96,900 (14.7%) $128,434 (11.1%) 0.00 133
    2019-05-01 $98,100 (10.1%) $131,239 (3.9%) 0.00 129
    2019-06-01 $99,900 (5.3%) $136,844 (0.7%) 0.00 135
    2019-07-01 $99,900 (2.8%) $130,959 (-2.5%) 0.00 132
    2019-08-01 $108,518 (3.4%) $131,768 (-9.5%) 0.00 129
    2019-09-01 $109,295 (4.1%) $128,884 (-10.4%) 0.00 130
    2019-10-01 $112,663 (10.0%) $129,346 (-10.9%) 0.00 118
    2019-11-01 $107,400 (10.6%) $130,701 (-2.2%) 0.00 91
    2019-12-01 $134,975 (51.8%) $143,449 (13.1%) 0.00 81
    2020-01-01 $119,900 (35.0%) $134,833 (5.8%) 0.00 79
    2020-02-01 $119,900 (37.1%) $133,035 (4.7%) 0.00 81
    2020-03-01 $110,700 (23.9%) $134,974 (9.9%) 0.00 72
    2020-04-01 $119,900 (23.7%) $141,375 (10.1%) 0.00 66
    2020-05-01 $114,900 (17.1%) $141,888 (8.1%) 0.00 66
    2020-06-01 $146,175 (46.3%) $158,947 (16.2%) 0.00 57
    2020-07-01 $136,850 (37.0%) $165,997 (26.8%) 0.00 58
    2020-08-01 $119,900 (10.5%) $153,905 (16.8%) 0.00 63
    2020-09-01 $129,900 (18.9%) $181,538 (40.9%) 0.00 55
    2020-10-01 $129,900 (15.3%) $178,078 (37.7%) 0.00 60
    2020-11-01 $127,600 (18.8%) $170,360 (30.3%) 0.00 66
    2020-12-01 $124,900 (-7.5%) $171,917 (19.9%) 0.00 61
    2021-01-01 $124,900 (4.2%) $163,026 (20.9%) 0.00 54
    2021-02-01 $124,900 (4.2%) $174,144 (30.9%) 0.00 35
    2021-03-01 $131,200 (18.5%) $191,583 (41.9%) 0.00 35
    2021-04-01 $133,950 (11.7%) $189,522 (34.1%) 0.00 30
    2021-05-01 $149,900 (30.5%) $195,946 (38.1%) 0.00 35
    2021-06-01 $176,400 (20.7%) $198,816 (25.1%) 0.00 43
    2021-07-01 $162,400 (18.7%) $200,908 (21.0%) 0.00 52
    2021-08-01 $161,250 (34.5%) $200,269 (30.1%) 0.00 65
    2021-09-01 $141,800 (9.2%) $190,094 (4.7%) 0.00 74
    2021-10-01 $134,950 (3.9%) $186,481 (4.7%) 0.00 72
    2021-11-01 $129,575 (1.6%) $177,121 (4.0%) 0.00 62
    2021-12-01 $135,175 (8.2%) $192,178 (11.8%) 0.00 48
    2022-01-01 $169,000 (35.3%) $219,647 (34.7%) 0.00 43
    2022-02-01 $147,500 (18.1%) $204,086 (17.2%) 0.00 35
    2022-03-01 $165,925 (26.5%) $218,142 (13.9%) 0.00 33
    2022-04-01 $149,900 (11.9%) $193,808 (2.3%) 0.00 45
    2022-05-01 $159,875 (6.7%) $207,162 (5.7%) 0.00 51
    2022-06-01 $164,925 (-6.5%) $227,682 (14.5%) 0.00 53
    2022-07-01 $179,900 (10.8%) $246,127 (22.5%) 0.00 60
    2022-08-01 $182,450 (13.2%) $245,149 (22.4%) 0.00 71
    2022-09-01 $167,200 (17.9%) $227,328 (19.6%) 0.00 76
    2022-10-01 $167,000 (23.8%) $224,329 (20.3%) 0.00 78
    2022-11-01 $169,925 (31.1%) $222,608 (25.7%) 0.00 87
    2022-12-01 $155,500 (15.0%) $206,296 (7.4%) 0.00 73
    2023-01-01 $149,675 (-11.4%) $214,139 (-2.5%) 0.00 62
    2023-02-01 $160,000 (8.5%) $218,497 (7.1%) 0.00 46
    2023-03-01 $170,675 (2.9%) $226,207 (3.7%) 0.00 42
    2023-04-01 $169,850 (13.3%) $215,092 (11.0%) 0.00 33
    2023-05-01 $219,475 (37.3%) $256,208 (23.7%) 0.00 35
    2023-06-01 $210,975 (27.9%) $264,729 (16.3%) 0.00 35
    2023-07-01 $199,000 (10.6%) $259,304 (5.4%) 0.00 41
    2023-08-01 $185,950 (1.9%) $242,994 (-0.9%) 0.00 49
    2023-09-01 $182,000 (8.9%) $228,094 (0.3%) 0.00 48
    2023-10-01 $184,000 (10.2%) $219,045 (-2.4%) 0.00 58
    2023-11-01 $183,000 (7.7%) $226,233 (1.6%) 0.00 68
    2023-12-01 $179,000 (15.1%) $220,125 (6.7%) 0.00 53
    2024-01-01 $177,800 (18.8%) $222,336 (3.8%) 0.00 45
    2024-02-01 $169,500 (5.9%) $215,988 (-1.2%) 0.00 46
    2024-03-01 $180,000 (5.5%) $230,466 (1.9%) 0.00 48
    2024-04-01 $179,950 (6.0%) $220,791 (2.7%) 0.00 53
    2024-05-01 $179,725 (-18.1%) $221,905 (-13.4%) 0.00 48
    2024-06-01 $189,900 (-10.0%) $231,321 (-12.6%) 0.00 54
    2024-07-01 $224,950 (13.0%) $238,488 (-8.0%) 0.00 54
    2024-08-01 $252,450 (35.8%) $250,136 (2.9%) 0.00 66
    2024-09-01 $229,575 (26.1%) $249,060 (9.2%) 0.00 77
    2024-10-01 $223,225 (21.3%) $242,909 (10.9%) 0.00 75
    2024-11-01 $199,000 (8.7%) $220,467 (-2.6%) 0.00 86
    Alma's median listing price for 2024-11-01 was $199,000, a difference of $16,000 (8.7%) versus the prior year and $-24,225 versus the prior month.

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

    Alma's average listing price for 2024-11-01 was $220,467, a difference of $-5,766 (-2.6%) versus the prior year and $-22,442 versus the prior month.

    For the 2024-11-01 period, Alma had 86 MLS listings, a difference of 11 listings (15%) versus the prior month and 18 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,523 sqft
    2018-02-01 0 days 1,512 sqft
    2018-03-01 0 days 1,460 sqft
    2018-04-01 0 days 1,454 sqft
    2018-05-01 0 days 1,479 sqft
    2018-06-01 0 days 1,506 sqft
    2018-07-01 0 days 1,546 sqft
    2018-08-01 0 days 1,562 sqft
    2018-09-01 0 days 1,557 sqft
    2018-10-01 0 days 1,579 sqft
    2018-11-01 0 days 1,500 sqft
    2018-12-01 0 days 1,450 sqft
    2019-01-01 0 days 1,450 sqft
    2019-02-01 0 days 1,473 sqft
    2019-03-01 0 days 1,471 sqft
    2019-04-01 0 days 1,499 sqft
    2019-05-01 0 days 1,507 sqft
    2019-06-01 0 days 1,612 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,568 sqft
    2019-09-01 0 days 1,558 sqft
    2019-10-01 0 days 1,579 sqft
    2019-11-01 0 days 1,600 sqft
    2019-12-01 0 days 1,760 sqft
    2020-01-01 0 days 1,736 sqft
    2020-02-01 0 days 1,702 sqft
    2020-03-01 0 days 1,576 sqft
    2020-04-01 0 days 1,653 sqft
    2020-05-01 0 days 1,569 sqft
    2020-06-01 0 days 1,775 sqft
    2020-07-01 0 days 1,703 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,708 sqft
    2020-10-01 0 days 1,660 sqft
    2020-11-01 0 days 1,653 sqft
    2020-12-01 0 days 1,600 sqft
    2021-01-01 0 days 1,570 sqft
    2021-02-01 0 days 1,511 sqft
    2021-03-01 0 days 1,509 sqft
    2021-04-01 0 days 1,593 sqft
    2021-05-01 0 days 1,726 sqft
    2021-06-01 0 days 1,728 sqft
    2021-07-01 0 days 1,749 sqft
    2021-08-01 0 days 1,590 sqft
    2021-09-01 0 days 1,536 sqft
    2021-10-01 0 days 1,552 sqft
    2021-11-01 0 days 1,458 sqft
    2021-12-01 0 days 1,458 sqft
    2022-01-01 0 days 1,633 sqft
    2022-02-01 0 days 1,566 sqft
    2022-03-01 0 days 1,601 sqft
    2022-04-01 0 days 1,604 sqft
    2022-05-01 0 days 1,642 sqft
    2022-06-01 0 days 1,657 sqft
    2022-07-01 0 days 1,681 sqft
    2022-08-01 0 days 1,708 sqft
    2022-09-01 0 days 1,654 sqft
    2022-10-01 0 days 1,669 sqft
    2022-11-01 0 days 1,716 sqft
    2022-12-01 0 days 1,653 sqft
    2023-01-01 0 days 1,612 sqft
    2023-02-01 0 days 1,614 sqft
    2023-03-01 0 days 1,477 sqft
    2023-04-01 0 days 1,573 sqft
    2023-05-01 0 days 1,805 sqft
    2023-06-01 0 days 1,853 sqft
    2023-07-01 0 days 1,878 sqft
    2023-08-01 0 days 1,771 sqft
    2023-09-01 0 days 1,690 sqft
    2023-10-01 0 days 1,758 sqft
    2023-11-01 0 days 1,844 sqft
    2023-12-01 0 days 1,860 sqft
    2024-01-01 0 days 1,791 sqft
    2024-02-01 0 days 1,752 sqft
    2024-03-01 0 days 1,755 sqft
    2024-04-01 0 days 1,622 sqft
    2024-05-01 0 days 1,759 sqft
    2024-06-01 0 days 1,788 sqft
    2024-07-01 0 days 1,792 sqft
    2024-08-01 0 days 1,798 sqft
    2024-09-01 0 days 1,778 sqft
    2024-10-01 0 days 1,809 sqft
    2024-11-01 0 days 1,753 sqft
    Alma's median listing age (time on market) for 2024-11-01 was 0 days.

    Alma's median square footage for active listings during the 2024-11-01 period was 1,753 sqft. One year prior, the average listing was 1,844 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.