Champaign VA Loan Rates, Closing Costs & Stats

CHAMPAIGN-URBANA, IL

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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.

    Champaign's 34 lenders originated 135 VA loans during 2023. The total origination value was $32,085,000, with an average VA loan value of $237,667.

    Champaign VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Champaign averaged 6.59% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Champaign's average VA mortgage closing costs are $4,536.

    The average rate for the prior week (2025-02-07) was 6.62% and one month ago for the week of 2025-01-10, the average rate was 6.56%.

    The average rate one year ago was 6.28%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.53%.

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

    Champaign 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 Champaign level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 47 6.83% $5,748
    FLAT BRANCH MORTGAGE, INC. 19 6.97% $6,554
    UNITED WHOLESALE MORTGAGE, LLC 8 6.13% $5,727
    NAVY FEDERAL CREDIT UNION 6 5.77% $3,334
    USAA Federal Savings Bank 5 6.38% $6,834
    BROKER SOLUTIONS, INC. 3 6.83% $9,644
    FREEDOM MORTGAGE CORPORATION 3 6.58% $11,233
    UNION HOME MORTGAGE CORP. 3 6.13% $6,985
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.38% $2,448
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.06% $9,009
    Barrington Bank & Trust Company, N.A. 2 6.50% $3,982
    Busey Bank 2 6.38% $2,025
    Citizens Bank 2 5.69% $1,719
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $8,543
    LOANDEPOT.COM, LLC 2 6.44% $9,728
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $11,505
    POINT Mortgage 2 6.50% $11,361
    QUICKEN LOANS, LLC 2 6.31% $5,880
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $3,003
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $3,628
    NEWREZ LLC 1 6.63% $3,903
    PENNYMAC LOAN SERVICES, LLC 1 6.63% $7,509
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $2,655
    PNC Bank 1 7.00% $2,211
    VILLAGE CAPITAL MORTGAGE 1 5.75% $9,767
    Equity Prime Mortgage LLC 1 6.75% $73
    Wells Fargo Bank 1 6.25% $12,065
    ROYAL UNITED MORTGAGE LLC 1 6.75% $9,640
    Service Federal Credit Union 1 5.63% $6,124
    COMPASS MORTGAGE, INC. 1 6.13% $6,921
    INB 1 6.63% $2,417
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.75% $7,555
    Marine Bank 1 6.25% $4,001
    GUARANTEED RATE, INC. 1 6.13% $5,537

    The top Champaign VA lender as defined by loan originations is Mortgage Research Center, LLC, with 47 VA loans originated. Their average total fees are $5,748, which is $805 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Champaign VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,748), FLAT BRANCH MORTGAGE, INC. ($6,554), .

    The lowest rate Champaign VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.83%), FLAT BRANCH MORTGAGE, INC. (6.97%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Champaign (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 $149,950 (7.2%) $203,956 (8.8%) 0.60 997
    2018-02-01 $156,000 (12.1%) $206,217 (7.9%) 0.62 958
    2018-03-01 $159,900 (10.5%) $215,003 (8.9%) 0.63 942
    2018-04-01 $166,175 (7.3%) $218,451 (4.9%) 0.62 967
    2018-05-01 $172,400 (12.3%) $218,595 (4.1%) 0.63 982
    2018-06-01 $169,000 (8.7%) $214,354 (0.4%) 0.60 1,050
    2018-07-01 $165,000 (3.2%) $211,874 (-2.4%) 0.58 1,081
    2018-08-01 $167,350 (4.7%) $212,135 (-1.1%) 0.59 1,104
    2018-09-01 $168,250 (5.2%) $211,521 (-2.8%) 0.59 1,081
    2018-10-01 $169,900 (6.9%) $211,245 (-0.9%) 0.61 1,058
    2018-11-01 $168,750 (8.8%) $209,467 (1.2%) 0.61 1,040
    2018-12-01 $164,900 (7.9%) $203,131 (-0.3%) 0.60 1,008
    2019-01-01 $165,000 (10.0%) $205,241 (0.6%) 0.61 930
    2019-02-01 $165,000 (5.8%) $212,036 (2.8%) 0.60 946
    2019-03-01 $171,193 (7.1%) $220,801 (2.7%) 0.62 917
    2019-04-01 $181,175 (9.0%) $228,952 (4.8%) 0.65 885
    2019-05-01 $184,475 (7.0%) $229,677 (5.1%) 0.62 920
    2019-06-01 $182,900 (8.2%) $228,062 (6.4%) 0.61 963
    2019-07-01 $178,400 (8.1%) $223,145 (5.3%) 0.60 1,019
    2019-08-01 $170,773 (2.1%) $217,736 (2.6%) 0.58 1,036
    2019-09-01 $166,682 (-0.9%) $212,471 (0.5%) 0.57 1,040
    2019-10-01 $164,705 (-3.1%) $209,348 (-0.9%) 0.57 1,041
    2019-11-01 $162,500 (-3.7%) $208,005 (-0.7%) 0.57 1,009
    2019-12-01 $155,400 (-5.8%) $208,354 (2.6%) 0.57 928
    2020-01-01 $158,900 (-3.7%) $208,632 (1.7%) 0.58 864
    2020-02-01 $174,900 (6.0%) $222,903 (5.1%) 0.61 798
    2020-03-01 $180,900 (5.7%) $231,189 (4.7%) 0.61 788
    2020-04-01 $184,850 (2.0%) $232,582 (1.6%) 0.62 752
    2020-05-01 $189,900 (2.9%) $237,709 (3.5%) 0.64 658
    2020-06-01 $189,900 (3.8%) $239,763 (5.1%) 0.60 613
    2020-07-01 $199,700 (11.9%) $250,859 (12.4%) 0.65 591
    2020-08-01 $192,000 (12.4%) $246,258 (13.1%) 0.62 538
    2020-09-01 $189,900 (13.9%) $243,428 (14.6%) 0.61 536
    2020-10-01 $177,500 (7.8%) $236,532 (13.0%) 0.55 496
    2020-11-01 $169,900 (4.6%) $229,214 (10.2%) 0.54 476
    2020-12-01 $176,049 (13.3%) $231,047 (10.9%) 0.57 427
    2021-01-01 $167,500 (5.4%) $226,330 (8.5%) 0.57 370
    2021-02-01 $161,950 (-7.4%) $223,711 (0.4%) 0.52 310
    2021-03-01 $162,675 (-10.1%) $236,541 (2.3%) 0.51 282
    2021-04-01 $169,600 (-8.3%) $249,978 (7.5%) 0.50 256
    2021-05-01 $174,900 (-7.9%) $256,563 (7.9%) 0.49 267
    2021-06-01 $184,675 (-2.8%) $260,926 (8.8%) 0.51 293
    2021-07-01 $175,000 (-12.4%) $254,059 (1.3%) 0.49 360
    2021-08-01 $169,900 (-11.5%) $243,461 (-1.1%) 0.47 373
    2021-09-01 $159,950 (-15.8%) $246,393 (1.2%) 0.44 358
    2021-10-01 $157,900 (-11.0%) $242,596 (2.6%) 0.43 376
    2021-11-01 $148,000 (-12.9%) $247,425 (7.9%) 0.41 342
    2021-12-01 $144,950 (-17.7%) $244,768 (5.9%) 0.41 290
    2022-01-01 $134,900 (-19.5%) $244,556 (8.1%) 0.38 247
    2022-02-01 $140,600 (-13.2%) $253,029 (13.1%) 0.40 220
    2022-03-01 $156,075 (-4.1%) $245,344 (3.7%) 0.42 197
    2022-04-01 $155,500 (-8.3%) $244,318 (-2.3%) 0.39 212
    2022-05-01 $165,875 (-5.2%) $239,116 (-6.8%) 0.40 241
    2022-06-01 $179,450 (-2.8%) $252,345 (-3.3%) 0.41 279
    2022-07-01 $179,900 (2.8%) $244,483 (-3.8%) 0.42 355
    2022-08-01 $182,450 (7.4%) $242,652 (-0.3%) 0.44 370
    2022-09-01 $182,450 (14.1%) $249,318 (1.2%) 0.47 364
    2022-10-01 $189,900 (20.3%) $253,393 (4.5%) 0.47 358
    2022-11-01 $194,500 (31.4%) $249,603 (0.9%) 0.49 333
    2022-12-01 $197,000 (35.9%) $251,078 (2.6%) 0.50 295
    2023-01-01 $191,150 (41.7%) $261,065 (6.8%) 0.51 251
    2023-02-01 $206,200 (46.7%) $286,521 (13.2%) 0.54 212
    2023-03-01 $239,825 (53.7%) $316,631 (29.1%) 0.61 192
    2023-04-01 $239,900 (54.3%) $326,877 (33.8%) 0.64 202
    2023-05-01 $257,500 (55.2%) $337,575 (41.2%) 0.67 197
    2023-06-01 $260,450 (45.1%) $329,330 (30.5%) 0.63 230
    2023-07-01 $269,400 (49.8%) $336,743 (37.7%) 0.65 234
    2023-08-01 $256,225 (40.4%) $332,737 (37.1%) 0.64 269
    2023-09-01 $256,000 (40.3%) $333,015 (33.6%) 0.64 309
    2023-10-01 $245,900 (29.5%) $318,844 (25.8%) 0.60 308
    2023-11-01 $239,500 (23.1%) $307,014 (23.0%) 0.59 315
    2023-12-01 $227,400 (15.4%) $298,862 (19.0%) 0.58 305
    2024-01-01 $226,912 (18.7%) $306,427 (17.4%) 0.59 271
    2024-02-01 $254,925 (23.6%) $324,857 (13.4%) 0.67 235
    2024-03-01 $270,000 (12.6%) $349,685 (10.4%) 0.69 212
    2024-04-01 $308,725 (28.7%) $372,560 (14.0%) 0.76 212
    2024-05-01 $302,400 (17.4%) $373,525 (10.7%) 0.75 240
    2024-06-01 $296,750 (13.9%) $349,255 (6.1%) 0.73 274
    2024-07-01 $294,900 (9.5%) $358,968 (6.6%) 0.70 286
    2024-08-01 $279,900 (9.2%) $352,995 (6.1%) 0.66 305
    2024-09-01 $258,450 (1.0%) $337,181 (1.3%) 0.62 325
    2024-10-01 $259,450 (5.5%) $340,707 (6.9%) 0.64 304
    2024-11-01 $265,000 (10.7%) $339,520 (10.6%) 0.67 311
    2024-12-01 $246,225 (8.3%) $323,743 (8.3%) 0.63 267
    2025-01-01 $246,400 (8.6%) $319,674 (4.3%) 0.00 238
    Champaign's median listing price for 2025-01-01 was $246,400, a difference of $19,488 (8.6%) versus the prior year and $175 versus the prior month.

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

    Champaign's average listing price for 2025-01-01 was $319,674, a difference of $13,247 (4.3%) versus the prior year and $-4,069 versus the prior month.

    For the 2025-01-01 period, Champaign had 238 MLS listings, a difference of -29 listings (-11%) versus the prior month and -33 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Champaign (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 109 days 1,640 sqft
    2018-02-01 108 days 1,641 sqft
    2018-03-01 78 days 1,666 sqft
    2018-04-01 59 days 1,708 sqft
    2018-05-01 61 days 1,745 sqft
    2018-06-01 62 days 1,749 sqft
    2018-07-01 65 days 1,739 sqft
    2018-08-01 68 days 1,746 sqft
    2018-09-01 72 days 1,737 sqft
    2018-10-01 80 days 1,740 sqft
    2018-11-01 88 days 1,728 sqft
    2018-12-01 100 days 1,708 sqft
    2019-01-01 113 days 1,672 sqft
    2019-02-01 107 days 1,681 sqft
    2019-03-01 90 days 1,710 sqft
    2019-04-01 67 days 1,767 sqft
    2019-05-01 59 days 1,779 sqft
    2019-06-01 65 days 1,768 sqft
    2019-07-01 67 days 1,782 sqft
    2019-08-01 68 days 1,736 sqft
    2019-09-01 72 days 1,715 sqft
    2019-10-01 77 days 1,712 sqft
    2019-11-01 92 days 1,715 sqft
    2019-12-01 104 days 1,712 sqft
    2020-01-01 110 days 1,700 sqft
    2020-02-01 113 days 1,742 sqft
    2020-03-01 75 days 1,784 sqft
    2020-04-01 74 days 1,790 sqft
    2020-05-01 78 days 1,780 sqft
    2020-06-01 74 days 1,810 sqft
    2020-07-01 61 days 1,840 sqft
    2020-08-01 58 days 1,784 sqft
    2020-09-01 61 days 1,776 sqft
    2020-10-01 64 days 1,728 sqft
    2020-11-01 60 days 1,706 sqft
    2020-12-01 72 days 1,728 sqft
    2021-01-01 78 days 1,639 sqft
    2021-02-01 68 days 1,581 sqft
    2021-03-01 58 days 1,594 sqft
    2021-04-01 47 days 1,613 sqft
    2021-05-01 41 days 1,653 sqft
    2021-06-01 41 days 1,706 sqft
    2021-07-01 43 days 1,672 sqft
    2021-08-01 45 days 1,589 sqft
    2021-09-01 46 days 1,549 sqft
    2021-10-01 46 days 1,519 sqft
    2021-11-01 57 days 1,500 sqft
    2021-12-01 64 days 1,475 sqft
    2022-01-01 74 days 1,445 sqft
    2022-02-01 62 days 1,484 sqft
    2022-03-01 43 days 1,566 sqft
    2022-04-01 38 days 1,536 sqft
    2022-05-01 34 days 1,533 sqft
    2022-06-01 35 days 1,613 sqft
    2022-07-01 37 days 1,623 sqft
    2022-08-01 40 days 1,653 sqft
    2022-09-01 48 days 1,698 sqft
    2022-10-01 51 days 1,700 sqft
    2022-11-01 59 days 1,713 sqft
    2022-12-01 71 days 1,700 sqft
    2023-01-01 77 days 1,708 sqft
    2023-02-01 68 days 1,726 sqft
    2023-03-01 55 days 1,843 sqft
    2023-04-01 38 days 1,832 sqft
    2023-05-01 39 days 1,854 sqft
    2023-06-01 43 days 1,781 sqft
    2023-07-01 43 days 1,798 sqft
    2023-08-01 44 days 1,779 sqft
    2023-09-01 44 days 1,800 sqft
    2023-10-01 48 days 1,787 sqft
    2023-11-01 50 days 1,782 sqft
    2023-12-01 57 days 1,747 sqft
    2024-01-01 67 days 1,728 sqft
    2024-02-01 58 days 1,769 sqft
    2024-03-01 46 days 1,788 sqft
    2024-04-01 40 days 1,889 sqft
    2024-05-01 30 days 1,891 sqft
    2024-06-01 37 days 1,823 sqft
    2024-07-01 43 days 1,854 sqft
    2024-08-01 46 days 1,806 sqft
    2024-09-01 44 days 1,777 sqft
    2024-10-01 50 days 1,787 sqft
    2024-11-01 51 days 1,830 sqft
    2024-12-01 66 days 1,796 sqft
    2025-01-01 0 days 1,784 sqft
    Champaign's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Champaign's median square footage for active listings during the 2025-01-01 period was 1,784 sqft. One year prior, the average listing was 1,728 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.