Ann Arbor VA Loan Rates, Closing Costs & Stats

ANN ARBOR, 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.

    Ann Arbor's 53 lenders originated 170 VA loans during 2024. The total origination value was $64,590,000, with an average VA loan value of $379,941.

    Ann Arbor VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Ann Arbor averaged 7.09% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    Ann Arbor's average VA mortgage closing costs are $6,204.

    The average rate for the prior week (2025-05-16) was 7.08% and one month ago for the week of 2025-04-18, the average rate was 6.65%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.93%.

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

    Ann Arbor 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 Ann Arbor level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 31 6.30% $5,934
    UNITED WHOLESALE MORTGAGE, LLC 19 6.01% $7,892
    QUICKEN LOANS, LLC 11 6.03% $12,291
    NAVY FEDERAL CREDIT UNION 7 5.95% $4,981
    USAA Federal Savings Bank 7 5.95% $8,081
    PENNYMAC LOAN SERVICES, LLC 6 5.71% $5,190
    FREEDOM MORTGAGE CORPORATION 5 6.80% $6,665
    SUCCESS MORTGAGE PARTNERS, INC. 5 6.60% $11,030
    CMG MORTGAGE, INC. 5 5.85% $9,114
    MORTGAGE 1 INCORPORATED 4 6.63% $7,488
    LOANDEPOT.COM, LLC 4 6.41% $13,229
    LAKEVIEW LOAN SERVICING, LLC 3 5.58% $4,676
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.04% $7,812
    M/I FINANCIAL, LLC 3 5.79% $8,971
    CROSSCOUNTRY MORTGAGE, LLC 3 7.06% $6,231
    LAKE MICHIGAN CREDIT UNION 3 6.13% $4,224
    Equity Prime Mortgage LLC 3 6.08% $9,323
    The Federal Savings Bank 3 6.25% $26,934
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.19% $5,633
    CLEARPATH LENDING 2 5.81% $7,720
    The Huntington National Bank 2 6.63% $2,134
    NEW DAY FINANCIAL, LLC 2 7.18% $6,496
    University Bank 2 5.94% $5,169
    Old National Bank 2 6.25% $3,118
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $7,738
    STAUNTON FINANCIAL, INC. 1 6.63% $5,725
    SUN WEST MORTGAGE COMPANY, INC. 1 5.85% $17,470
    The Loan Store, Inc. 1 6.25% $8,853
    UNION HOME MORTGAGE CORP. 1 7.13% $4,328
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $3,461
    AMERISAVE MORTGAGE CORPORATION 1 5.50% $20,403
    Armed Forces Bank 1 6.00% $3,785
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $4,405
    DAS Acquisition Company, LLC 1 6.75% $3,322
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $5,987
    FIRST COLONY MORTGAGE CORPORATION 1 6.63% $2,392
    FIRST COMMUNITY MORTGAGE, INC. 1 5.25% $7,139
    First Federal Bank 1 5.63% $10,682
    First Federal Bank of the Midwest 1 6.63% $3,383
    First Merchants Bank 1 7.00% $4,074
    First State Bank 1 7.25% $12,409
    Flagstar Bank, FSB 1 5.69% $6,538
    GENEVA FINANCIAL, LLC 1 6.75% $9,784
    GUARANTEED RATE, INC. 1 5.68% $24,309
    HOMESITE MORTGAGE, LLC 1 6.63% $4,348
    Magnolia Bank 1 5.38% $10,832
    MEMBER FIRST MORTGAGE, LLC 1 7.25% $21,293
    MOVEMENT MORTGAGE, LLC 1 5.50% $1,914
    AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $14,340
    NBKC BANK 1 5.63% $3,482
    NEWREZ LLC 1 6.25% $2,722
    PLANET HOME LENDING, LLC 1 2.75% $2,418
    ROSS MORTGAGE CORPORATION 1 6.63% $8,333

    The top Ann Arbor VA lender as defined by loan originations is Mortgage Research Center, LLC, with 31 VA loans originated. Their average total fees are $5,934, which is $1,958 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Ann Arbor VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,934), UNITED WHOLESALE MORTGAGE, LLC ($7,892), QUICKEN LOANS, LLC ($12,291), .

    The lowest rate Ann Arbor VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.01%), QUICKEN LOANS, LLC (6.03%), Mortgage Research Center, LLC (6.30%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ann Arbor (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 $389,500 (17.6%) $504,774 (12.9%) 1.44 551
    2018-02-01 $391,125 (13.6%) $512,234 (1.6%) 1.42 543
    2018-03-01 $390,000 (3.8%) $503,965 (-3.0%) 1.37 582
    2018-04-01 $394,950 (1.3%) $488,766 (-7.6%) 1.34 666
    2018-05-01 $406,450 (3.2%) $493,815 (-6.8%) 1.36 800
    2018-06-01 $408,500 (5.0%) $495,888 (-3.1%) 1.36 885
    2018-07-01 $409,500 (7.8%) $486,820 (0.7%) 1.37 981
    2018-08-01 $393,950 (6.5%) $459,729 (-3.7%) 1.32 1,065
    2018-09-01 $390,000 (5.6%) $462,854 (-2.7%) 1.31 1,066
    2018-10-01 $393,625 (6.1%) $463,979 (-6.0%) 1.33 1,040
    2018-11-01 $396,500 (-0.6%) $461,290 (-8.4%) 1.34 965
    2018-12-01 $399,000 (-0.2%) $457,678 (-8.4%) 1.38 837
    2019-01-01 $399,900 (2.7%) $461,700 (-8.5%) 1.38 743
    2019-02-01 $399,950 (2.3%) $468,019 (-8.6%) 1.35 741
    2019-03-01 $404,246 (3.7%) $477,400 (-5.3%) 1.32 850
    2019-04-01 $407,481 (3.2%) $486,408 (-0.5%) 1.29 963
    2019-05-01 $417,250 (2.7%) $492,013 (-0.4%) 1.30 1,071
    2019-06-01 $418,000 (2.3%) $502,446 (1.3%) 1.31 1,117
    2019-07-01 $408,453 (-0.3%) $486,504 (-0.1%) 1.28 1,166
    2019-08-01 $394,445 (0.1%) $471,414 (2.5%) 1.25 1,200
    2019-09-01 $386,264 (-1.0%) $460,886 (-0.4%) 1.24 1,196
    2019-10-01 $379,450 (-3.6%) $450,993 (-2.8%) 1.22 1,192
    2019-11-01 $373,900 (-5.7%) $439,462 (-4.7%) 1.23 1,096
    2019-12-01 $368,750 (-7.6%) $434,260 (-5.1%) 1.23 937
    2020-01-01 $368,528 (-7.9%) $432,704 (-6.3%) 1.23 811
    2020-02-01 $388,495 (-2.9%) $452,148 (-3.4%) 1.27 792
    2020-03-01 $398,950 (-1.3%) $467,537 (-2.1%) 1.25 860
    2020-04-01 $399,000 (-2.1%) $460,991 (-5.2%) 1.25 890
    2020-05-01 $398,000 (-4.6%) $457,143 (-7.1%) 1.21 1,063
    2020-06-01 $398,920 (-4.6%) $463,812 (-7.7%) 1.18 1,080
    2020-07-01 $399,450 (-2.2%) $471,699 (-3.0%) 1.16 1,033
    2020-08-01 $398,900 (1.1%) $473,257 (0.4%) 1.14 1,009
    2020-09-01 $399,950 (3.5%) $482,726 (4.7%) 1.15 959
    2020-10-01 $409,998 (8.1%) $494,034 (9.5%) 1.17 892
    2020-11-01 $418,250 (11.9%) $491,874 (11.9%) 1.22 791
    2020-12-01 $416,455 (12.9%) $491,595 (13.2%) 1.24 698
    2021-01-01 $429,900 (16.7%) $510,994 (18.1%) 1.28 563
    2021-02-01 $443,241 (14.1%) $537,303 (18.8%) 1.29 488
    2021-03-01 $449,600 (12.7%) $541,471 (15.8%) 1.28 456
    2021-04-01 $449,300 (12.6%) $559,009 (21.3%) 1.22 454
    2021-05-01 $439,000 (10.3%) $559,444 (22.4%) 1.17 505
    2021-06-01 $424,850 (6.5%) $549,654 (18.5%) 1.12 598
    2021-07-01 $422,000 (5.7%) $550,094 (16.6%) 1.11 665
    2021-08-01 $399,950 (0.3%) $531,540 (12.3%) 1.07 692
    2021-09-01 $412,475 (3.1%) $543,570 (12.6%) 1.10 613
    2021-10-01 $415,000 (1.2%) $553,831 (12.1%) 1.11 560
    2021-11-01 $399,100 (-4.6%) $554,373 (12.7%) 1.07 489
    2021-12-01 $407,745 (-2.1%) $563,225 (14.6%) 1.10 411
    2022-01-01 $428,695 (-0.3%) $576,600 (12.8%) 1.16 329
    2022-02-01 $444,500 (0.3%) $598,012 (11.3%) 1.16 293
    2022-03-01 $414,250 (-7.9%) $578,053 (6.8%) 1.04 308
    2022-04-01 $429,900 (-4.3%) $585,294 (4.7%) 1.02 358
    2022-05-01 $450,383 (2.6%) $591,117 (5.7%) 1.03 398
    2022-06-01 $449,938 (5.9%) $564,667 (2.7%) 1.00 479
    2022-07-01 $453,390 (7.4%) $568,611 (3.4%) 1.02 583
    2022-08-01 $449,944 (12.5%) $547,140 (2.9%) 1.04 621
    2022-09-01 $449,830 (9.1%) $547,848 (0.8%) 1.05 619
    2022-10-01 $449,000 (8.2%) $552,613 (-0.2%) 1.06 624
    2022-11-01 $436,725 (9.4%) $544,276 (-1.8%) 1.05 589
    2022-12-01 $420,000 (3.0%) $543,487 (-3.5%) 1.04 465
    2023-01-01 $430,000 (0.3%) $566,369 (-1.8%) 1.07 416
    2023-02-01 $449,495 (1.1%) $597,447 (-0.1%) 1.08 368
    2023-03-01 $468,750 (13.2%) $631,888 (9.3%) 1.11 374
    2023-04-01 $475,000 (10.5%) $646,643 (10.5%) 1.10 394
    2023-05-01 $495,450 (10.0%) $644,195 (9.0%) 1.12 393
    2023-06-01 $511,070 (13.6%) $661,149 (17.1%) 1.15 417
    2023-07-01 $529,900 (16.9%) $677,324 (19.1%) 1.20 440
    2023-08-01 $499,589 (11.0%) $650,040 (18.8%) 1.15 443
    2023-09-01 $498,845 (10.9%) $653,735 (19.3%) 1.16 453
    2023-10-01 $484,120 (7.8%) $642,515 (16.3%) 1.14 465
    2023-11-01 $489,118 (12.0%) $646,613 (18.8%) 1.16 553
    2023-12-01 $495,790 (18.1%) $668,473 (23.0%) 1.21 388
    2024-01-01 $505,895 (17.7%) $664,712 (17.4%) 1.24 344
    2024-02-01 $516,455 (14.9%) $688,294 (15.2%) 1.24 327
    2024-03-01 $525,000 (12.0%) $669,032 (5.9%) 1.24 362
    2024-04-01 $550,293 (15.9%) $690,983 (6.9%) 1.28 389
    2024-05-01 $549,500 (10.9%) $691,978 (7.4%) 1.25 451
    2024-06-01 $525,000 (2.7%) $668,194 (1.1%) 1.19 509
    2024-07-01 $526,500 (-0.6%) $650,321 (-4.0%) 1.20 513
    2024-08-01 $513,790 (2.8%) $652,481 (0.4%) 1.19 566
    2024-09-01 $509,450 (2.1%) $643,567 (-1.6%) 1.20 598
    2024-10-01 $472,473 (-2.4%) $618,667 (-3.7%) 1.11 582
    2024-11-01 $469,900 (-3.9%) $615,044 (-4.9%) 1.13 539
    2024-12-01 $454,500 (-8.3%) $593,572 (-11.2%) 1.13 438
    2025-01-01 $459,495 (-9.2%) $627,370 (-5.6%) 1.15 402
    2025-02-01 $484,708 (-6.2%) $645,392 (-6.2%) 1.18 399
    2025-03-01 $519,900 (-1.0%) $686,725 (2.6%) 1.22 450
    2025-04-01 $527,475 (-4.2%) $683,041 (-1.2%) 1.22 548
    Ann Arbor's median listing price for 2025-04-01 was $527,475, a difference of $-22,818 (-4.2%) versus the prior year and $7,575 versus the prior month.

    Ann Arbor's median listing price comes in at 122% of the national average.

    Ann Arbor's average listing price for 2025-04-01 was $683,041, a difference of $-7,942 (-1.2%) versus the prior year and $-3,684 versus the prior month.

    For the 2025-04-01 period, Ann Arbor had 548 MLS listings, a difference of 98 listings (22%) versus the prior month and 159 listings (41%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ann Arbor (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 2,091 sqft
    2018-02-01 70 days 2,136 sqft
    2018-03-01 44 days 2,043 sqft
    2018-04-01 35 days 2,058 sqft
    2018-05-01 32 days 2,069 sqft
    2018-06-01 38 days 2,082 sqft
    2018-07-01 41 days 2,053 sqft
    2018-08-01 42 days 1,974 sqft
    2018-09-01 52 days 1,996 sqft
    2018-10-01 57 days 2,004 sqft
    2018-11-01 59 days 1,999 sqft
    2018-12-01 71 days 1,962 sqft
    2019-01-01 86 days 1,962 sqft
    2019-02-01 80 days 1,984 sqft
    2019-03-01 56 days 2,032 sqft
    2019-04-01 38 days 2,085 sqft
    2019-05-01 43 days 2,086 sqft
    2019-06-01 44 days 2,100 sqft
    2019-07-01 49 days 2,085 sqft
    2019-08-01 53 days 2,062 sqft
    2019-09-01 59 days 2,044 sqft
    2019-10-01 63 days 2,034 sqft
    2019-11-01 68 days 2,004 sqft
    2019-12-01 89 days 2,022 sqft
    2020-01-01 96 days 1,999 sqft
    2020-02-01 80 days 2,064 sqft
    2020-03-01 40 days 2,100 sqft
    2020-04-01 54 days 2,064 sqft
    2020-05-01 59 days 2,047 sqft
    2020-06-01 41 days 2,034 sqft
    2020-07-01 49 days 2,042 sqft
    2020-08-01 51 days 2,028 sqft
    2020-09-01 52 days 2,029 sqft
    2020-10-01 52 days 2,056 sqft
    2020-11-01 57 days 1,994 sqft
    2020-12-01 73 days 1,999 sqft
    2021-01-01 85 days 2,036 sqft
    2021-02-01 72 days 2,048 sqft
    2021-03-01 41 days 1,997 sqft
    2021-04-01 28 days 1,978 sqft
    2021-05-01 30 days 1,946 sqft
    2021-06-01 30 days 1,964 sqft
    2021-07-01 37 days 1,912 sqft
    2021-08-01 38 days 1,846 sqft
    2021-09-01 51 days 1,883 sqft
    2021-10-01 64 days 1,885 sqft
    2021-11-01 66 days 1,890 sqft
    2021-12-01 77 days 1,872 sqft
    2022-01-01 84 days 1,854 sqft
    2022-02-01 61 days 1,817 sqft
    2022-03-01 30 days 1,702 sqft
    2022-04-01 27 days 1,787 sqft
    2022-05-01 26 days 1,854 sqft
    2022-06-01 24 days 1,908 sqft
    2022-07-01 29 days 1,955 sqft
    2022-08-01 37 days 1,898 sqft
    2022-09-01 41 days 1,914 sqft
    2022-10-01 44 days 1,952 sqft
    2022-11-01 51 days 1,912 sqft
    2022-12-01 68 days 1,852 sqft
    2023-01-01 67 days 1,853 sqft
    2023-02-01 50 days 1,908 sqft
    2023-03-01 38 days 1,940 sqft
    2023-04-01 33 days 1,918 sqft
    2023-05-01 33 days 1,929 sqft
    2023-06-01 32 days 2,012 sqft
    2023-07-01 37 days 2,063 sqft
    2023-08-01 35 days 2,046 sqft
    2023-09-01 38 days 1,983 sqft
    2023-10-01 38 days 1,990 sqft
    2023-11-01 51 days 2,034 sqft
    2023-12-01 59 days 2,055 sqft
    2024-01-01 69 days 2,112 sqft
    2024-02-01 53 days 2,103 sqft
    2024-03-01 33 days 2,114 sqft
    2024-04-01 35 days 2,199 sqft
    2024-05-01 27 days 2,247 sqft
    2024-06-01 36 days 2,164 sqft
    2024-07-01 37 days 2,134 sqft
    2024-08-01 39 days 2,082 sqft
    2024-09-01 41 days 2,068 sqft
    2024-10-01 42 days 2,010 sqft
    2024-11-01 47 days 1,989 sqft
    2024-12-01 61 days 1,932 sqft
    2025-01-01 54 days 1,970 sqft
    2025-02-01 42 days 2,068 sqft
    2025-03-01 38 days 2,116 sqft
    2025-04-01 30 days 2,134 sqft
    Ann Arbor's median listing age (time on market) for 2025-04-01 was 30 days. This is -13% shorter than the same period one year ago.

    Ann Arbor's median square footage for active listings during the 2025-04-01 period was 2,134 sqft. One year prior, the average listing was 2,199 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.