Cadillac VA Loan Rates, Closing Costs & Stats

Cadillac, 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.

Cadillac's 29 lenders originated 80 VA loans during 2022. The total origination value was $17,460,000, with an average VA loan value of $218,250.

Cadillac VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Cadillac averaged 6.7% for the week of 2024-03-15, compared to the national average (all VA variants) of 6.439% for the same period.

Cadillac's average VA mortgage closing costs are $4,145.

The average rate for the prior week (2024-03-08) was 6.62% and one month ago for the week of 2024-02-09, the average rate was 6.39%.

The average rate one year ago was 6.78%.

For refis of the same type during the week of 2024-03-15, the average rate was 6.12%.

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

Cadillac 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 Cadillac level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 17 5.27% $4,618
QUICKEN LOANS, LLC 10 4.39% $9,014
UNITED WHOLESALE MORTGAGE, LLC 9 4.21% $5,344
NAVY FEDERAL CREDIT UNION 5 5.08% $2,647
CALIBER HOME LOANS, INC. 4 4.81% $6,454
PENNYMAC LOAN SERVICES, LLC 3 3.92% $5,559
Fifth Third Bank 2 4.00% $4,083
PLAZA HOME MORTGAGE, INC. 2 4.19% $5,775
T2 FINANCIAL LLC 2 5.50% $4,385
The Huntington National Bank 2 4.31% $3,593
USAA Federal Savings Bank 2 5.94% $2,071
LOANDEPOT.COM, LLC 2 4.06% $7,265
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.13% $275
The Federal Savings Bank 1 5.75% $8,459
UNION HOME MORTGAGE CORP. 1 5.75% $8,330
VAN DYK MORTGAGE CORPORATION 1 6.13% $3,464
AMERIFIRST FINANCIAL CORPORATION 1 5.50% $8,554
Wells Fargo Bank 1 4.50% $4,424
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,784
Barrington Bank & Trust Company, N.A. 1 5.25% $5,793
CARDINAL FINANCIAL 1 2.75% $7,322
EVERETT FINANCIAL, INC. 1 5.13% $1,879
FREEDOM MORTGAGE CORPORATION 1 4.75% $2,008
Horizon Bank 1 6.99% $2,430
LAKE MICHIGAN CREDIT UNION 1 5.50% $16,133
MORTGAGE 1 INCORPORATED 1 3.63% $2,324
Mr. Cooper ( Nationstar Mortgage ) 1 5.13% $6,121
Neighborhood Loans, Inc. 1 5.75% $915
NEW DAY FINANCIAL, LLC 1 4.99% $5,512

The top Cadillac VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $4,618, which is $4,396 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Cadillac VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,618), QUICKEN LOANS, LLC ($9,014), .

The lowest rate Cadillac VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.39%), Mortgage Research Center, LLC (5.27%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cadillac (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 $137,606 (14.3%) $162,876 (9.1%) 0.00 236
2018-02-01 $143,900 (20.0%) $169,208 (14.4%) 0.00 221
2018-03-01 $149,950 (17.9%) $179,734 (17.4%) 0.00 225
2018-04-01 $148,325 (11.2%) $177,081 (11.7%) 0.00 230
2018-05-01 $152,450 (9.2%) $183,166 (11.7%) 0.00 260
2018-06-01 $160,000 (14.4%) $186,966 (9.9%) 0.00 289
2018-07-01 $165,450 (18.8%) $188,806 (10.8%) 0.00 305
2018-08-01 $165,950 (20.7%) $188,413 (14.0%) 0.00 299
2018-09-01 $169,900 (22.0%) $191,546 (14.5%) 0.00 293
2018-10-01 $169,950 (20.8%) $194,086 (14.9%) 0.00 266
2018-11-01 $168,450 (20.9%) $190,105 (14.8%) 0.00 245
2018-12-01 $154,900 (14.7%) $185,582 (15.1%) 0.00 216
2019-01-01 $149,900 (8.9%) $180,261 (10.7%) 0.00 208
2019-02-01 $146,725 (2.0%) $174,655 (3.2%) 0.00 202
2019-03-01 $147,357 (-1.7%) $173,827 (-3.3%) 0.00 200
2019-04-01 $145,207 (-2.1%) $174,168 (-1.7%) 0.00 205
2019-05-01 $151,500 (-0.6%) $182,296 (-0.5%) 0.00 247
2019-06-01 $169,000 (5.6%) $197,768 (5.8%) 0.00 267
2019-07-01 $163,700 (-1.1%) $195,774 (3.7%) 0.00 301
2019-08-01 $159,041 (-4.2%) $192,849 (2.4%) 0.00 310
2019-09-01 $157,752 (-7.2%) $191,420 (-0.1%) 0.00 308
2019-10-01 $167,868 (-1.2%) $199,537 (2.8%) 0.00 271
2019-11-01 $171,200 (1.6%) $204,014 (7.3%) 0.00 232
2019-12-01 $164,925 (6.5%) $197,608 (6.5%) 0.00 205
2020-01-01 $169,425 (13.0%) $196,215 (8.9%) 0.00 176
2020-02-01 $189,900 (29.4%) $216,043 (23.7%) 0.00 157
2020-03-01 $187,450 (27.2%) $211,828 (21.9%) 0.00 147
2020-04-01 $184,925 (27.4%) $214,760 (23.3%) 0.00 142
2020-05-01 $192,900 (27.3%) $215,363 (18.1%) 0.00 151
2020-06-01 $178,650 (5.7%) $208,467 (5.4%) 0.00 138
2020-07-01 $174,925 (6.9%) $206,811 (5.6%) 0.00 120
2020-08-01 $179,900 (13.1%) $213,289 (10.6%) 0.00 106
2020-09-01 $179,900 (14.0%) $222,852 (16.4%) 0.00 88
2020-10-01 $174,950 (4.2%) $208,542 (4.5%) 0.00 79
2020-11-01 $164,000 (-4.2%) $194,503 (-4.7%) 0.00 69
2020-12-01 $163,650 (-0.8%) $183,826 (-7.0%) 0.00 60
2021-01-01 $159,000 (-6.2%) $182,410 (-7.0%) 0.00 53
2021-02-01 $144,950 (-23.7%) $197,510 (-8.6%) 0.00 42
2021-03-01 $178,450 (-4.8%) $220,463 (4.1%) 0.00 38
2021-04-01 $180,950 (-2.2%) $227,790 (6.1%) 0.00 39
2021-05-01 $187,450 (-2.8%) $233,611 (8.5%) 0.00 42
2021-06-01 $183,675 (2.8%) $242,244 (16.2%) 0.00 49
2021-07-01 $162,450 (-7.1%) $230,796 (11.6%) 0.00 64
2021-08-01 $169,450 (-5.8%) $232,407 (9.0%) 0.00 72
2021-09-01 $191,975 (6.7%) $247,485 (11.1%) 0.00 77
2021-10-01 $197,200 (12.7%) $248,481 (19.2%) 0.00 85
2021-11-01 $200,950 (22.5%) $230,294 (18.4%) 0.00 76
2021-12-01 $203,900 (24.6%) $234,161 (27.4%) 0.00 68
2022-01-01 $182,175 (14.6%) $229,406 (25.8%) 0.00 62
2022-02-01 $166,200 (14.7%) $210,630 (6.6%) 0.00 47
2022-03-01 $163,675 (-8.3%) $196,658 (-10.8%) 0.00 47
2022-04-01 $172,450 (-4.7%) $218,774 (-4.0%) 0.00 42
2022-05-01 $195,725 (4.4%) $247,625 (6.0%) 0.00 56
2022-06-01 $232,400 (26.5%) $272,871 (12.6%) 0.00 60
2022-07-01 $249,900 (53.8%) $270,268 (17.1%) 0.00 86
2022-08-01 $228,825 (35.0%) $253,721 (9.2%) 0.00 115
2022-09-01 $212,449 (10.7%) $250,644 (1.3%) 0.00 115
2022-10-01 $199,500 (1.2%) $238,083 (-4.2%) 0.00 101
2022-11-01 $183,650 (-8.6%) $227,456 (-1.2%) 0.00 96
2022-12-01 $182,250 (-10.6%) $252,666 (7.9%) 0.00 82
2023-01-01 $188,450 (3.4%) $259,150 (13.0%) 0.00 64
2023-02-01 $191,175 (15.0%) $255,491 (21.3%) 0.00 57
2023-03-01 $235,000 (43.6%) $271,512 (38.1%) 0.00 56
2023-04-01 $267,500 (55.1%) $288,083 (31.7%) 0.00 59
2023-05-01 $291,950 (49.2%) $333,456 (34.7%) 0.00 66
2023-06-01 $286,150 (23.1%) $323,574 (18.6%) 0.00 81
2023-07-01 $262,450 (5.0%) $310,675 (15.0%) 0.00 85
2023-08-01 $264,250 (15.5%) $304,673 (20.1%) 0.00 97
2023-09-01 $237,000 (11.6%) $308,251 (23.0%) 0.00 104
2023-10-01 $244,850 (22.7%) $294,984 (23.9%) 0.00 103
2023-11-01 $249,950 (36.1%) $296,084 (30.2%) 0.00 96
2023-12-01 $225,000 (23.5%) $291,030 (15.2%) 0.00 89
2024-01-01 $227,425 (20.7%) $285,565 (10.2%) 0.00 81
Cadillac's median listing price for 2024-01-01 was $227,425, a difference of $38,975 (20.7%) versus the prior year and $2,425 versus the prior month.

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

Cadillac's average listing price for 2024-01-01 was $285,565, a difference of $26,415 (10.2%) versus the prior year and $-5,465 versus the prior month.

For the 2024-01-01 period, Cadillac had 81 MLS listings, a difference of -8 listings (-9%) versus the prior month and 17 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cadillac (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,587 sqft
2018-02-01 0 days 1,600 sqft
2018-03-01 0 days 1,661 sqft
2018-04-01 0 days 1,649 sqft
2018-05-01 0 days 1,649 sqft
2018-06-01 0 days 1,700 sqft
2018-07-01 0 days 1,749 sqft
2018-08-01 0 days 1,727 sqft
2018-09-01 0 days 1,744 sqft
2018-10-01 0 days 1,774 sqft
2018-11-01 0 days 1,735 sqft
2018-12-01 0 days 1,620 sqft
2019-01-01 0 days 1,621 sqft
2019-02-01 0 days 1,612 sqft
2019-03-01 0 days 1,621 sqft
2019-04-01 0 days 1,593 sqft
2019-05-01 0 days 1,575 sqft
2019-06-01 0 days 1,620 sqft
2019-07-01 0 days 1,746 sqft
2019-08-01 0 days 1,719 sqft
2019-09-01 0 days 1,674 sqft
2019-10-01 0 days 1,695 sqft
2019-11-01 0 days 1,800 sqft
2019-12-01 0 days 1,700 sqft
2020-01-01 0 days 1,637 sqft
2020-02-01 0 days 1,620 sqft
2020-03-01 0 days 1,618 sqft
2020-04-01 0 days 1,645 sqft
2020-05-01 0 days 1,732 sqft
2020-06-01 0 days 1,708 sqft
2020-07-01 0 days 1,608 sqft
2020-08-01 0 days 1,800 sqft
2020-09-01 0 days 1,800 sqft
2020-10-01 0 days 1,713 sqft
2020-11-01 0 days 1,621 sqft
2020-12-01 0 days 1,621 sqft
2021-01-01 0 days 1,514 sqft
2021-02-01 0 days 1,513 sqft
2021-03-01 0 days 1,557 sqft
2021-04-01 0 days 1,687 sqft
2021-05-01 0 days 1,607 sqft
2021-06-01 0 days 1,509 sqft
2021-07-01 0 days 1,456 sqft
2021-08-01 0 days 1,448 sqft
2021-09-01 0 days 1,562 sqft
2021-10-01 0 days 1,573 sqft
2021-11-01 0 days 1,608 sqft
2021-12-01 0 days 1,602 sqft
2022-01-01 0 days 1,565 sqft
2022-02-01 0 days 1,436 sqft
2022-03-01 0 days 1,421 sqft
2022-04-01 0 days 1,410 sqft
2022-05-01 0 days 1,449 sqft
2022-06-01 0 days 1,555 sqft
2022-07-01 0 days 1,686 sqft
2022-08-01 0 days 1,668 sqft
2022-09-01 0 days 1,600 sqft
2022-10-01 0 days 1,574 sqft
2022-11-01 0 days 1,509 sqft
2022-12-01 0 days 1,500 sqft
2023-01-01 0 days 1,558 sqft
2023-02-01 0 days 1,500 sqft
2023-03-01 0 days 1,552 sqft
2023-04-01 0 days 1,523 sqft
2023-05-01 0 days 1,600 sqft
2023-06-01 0 days 1,600 sqft
2023-07-01 0 days 1,504 sqft
2023-08-01 0 days 1,469 sqft
2023-09-01 0 days 1,568 sqft
2023-10-01 0 days 1,585 sqft
2023-11-01 0 days 1,569 sqft
2023-12-01 0 days 1,510 sqft
2024-01-01 0 days 1,433 sqft
Cadillac's median listing age (time on market) for 2024-01-01 was 0 days.

Cadillac's median square footage for active listings during the 2024-01-01 period was 1,433 sqft. One year prior, the average listing was 1,558 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.