Alma VA Loan Rates, Closing Costs & Stats

Alma, MI

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 6.7% for the week of 2024-10-25, compared to the national average (all VA variants) of 6.14% for the same period.

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

The average rate for the prior week (2024-10-18) was 6.52% and one month ago for the week of 2024-09-20, the average rate was 5.82%.

The average rate one year ago was 7.54%.

For refis of the same type during the week of 2024-10-25, the average rate was 6.34%.

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
Alma's median listing price for 2024-09-01 was $229,575, a difference of $47,575 (26.1%) versus the prior year and $-22,875 versus the prior month.

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

Alma's average listing price for 2024-09-01 was $249,060, a difference of $20,966 (9.2%) versus the prior year and $-1,076 versus the prior month.

For the 2024-09-01 period, Alma had 77 MLS listings, a difference of 11 listings (17%) versus the prior month and 29 listings (60%) 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
Alma's median listing age (time on market) for 2024-09-01 was 0 days.

Alma's median square footage for active listings during the 2024-09-01 period was 1,778 sqft. One year prior, the average listing was 1,690 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.