Detroit VA Loan Rates, Closing Costs & Stats

Detroit-Warren-Dearborn, 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.

    Detroit's 137 lenders originated 3,148 VA loans during 2024. The total origination value was $953,130,000, with an average VA loan value of $302,773.

    Detroit VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Detroit averaged 6.86% for the week of 2025-05-23, compared to the national average (all VA variants) of 6.52% for the same period.

    Detroit's average VA mortgage closing costs are $5,553.

    The average rate for the prior week (2025-05-16) was 6.85% and one month ago for the week of 2025-04-18, the average rate was 7.12%.

    The average rate one year ago was 7.14%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.54%.

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

    Detroit 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 Detroit level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 545 6.08% $6,944
    Mortgage Research Center, LLC 499 6.41% $6,032
    QUICKEN LOANS, LLC 399 6.12% $8,978
    FREEDOM MORTGAGE CORPORATION 127 6.18% $8,805
    NAVY FEDERAL CREDIT UNION 99 5.95% $4,689
    NEW DAY FINANCIAL, LLC 80 7.48% $10,590
    PENNYMAC LOAN SERVICES, LLC 79 5.77% $7,515
    UNION HOME MORTGAGE CORP. 67 6.46% $7,183
    USAA Federal Savings Bank 63 6.17% $6,955
    MORTGAGE 1 INCORPORATED 60 6.54% $5,977
    VILLAGE CAPITAL MORTGAGE 60 6.05% $7,004
    Flagstar Bank, FSB 46 6.36% $4,454
    CROSSCOUNTRY MORTGAGE, LLC 45 6.49% $8,538
    NEWREZ LLC 44 6.24% $8,253
    GUARANTEED RATE, INC. 38 6.04% $4,480
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 35 6.31% $7,028
    STAUNTON FINANCIAL, INC. 30 6.38% $5,624
    LOANDEPOT.COM, LLC 28 6.30% $7,852
    Mr. Cooper ( Nationstar Mortgage ) 26 6.32% $7,151
    ROSS MORTGAGE CORPORATION 26 6.50% $5,695
    PLANET HOME LENDING, LLC 24 5.76% $4,330
    SUCCESS MORTGAGE PARTNERS, INC. 24 6.49% $9,521
    LAKEVIEW LOAN SERVICING, LLC 22 5.71% $5,559
    CLEARPATH LENDING 17 5.48% $7,569
    MICHIGAN MUTUAL, INC. 17 6.51% $5,037
    The Federal Savings Bank 16 6.30% $15,231
    NBKC BANK 16 5.73% $5,160
    Barrington Bank & Trust Company, N.A. 15 6.48% $6,156
    THE MORTGAGE LINK, INC. 15 6.73% $15,984
    MORTGAGE CENTER L.C 14 6.29% $7,640
    CMG MORTGAGE, INC. 14 6.42% $6,495
    Plains Commerce Bank 13 6.40% $8,762
    LAKE MICHIGAN CREDIT UNION 12 6.09% $8,453
    JPMorgan Chase Bank 12 6.23% $3,322
    BROKER SOLUTIONS, INC. 11 6.49% $10,289
    Equity Prime Mortgage LLC 11 6.75% $8,571
    PLAZA HOME MORTGAGE, INC. 10 6.65% $10,700
    The Huntington National Bank 10 6.80% $5,875
    PHH Mortgage Corporation 10 5.97% $6,970
    FIRST COMMUNITY MORTGAGE, INC. 10 6.55% $8,289
    AMERISAVE MORTGAGE CORPORATION 9 5.89% $14,329
    Preston Home Loans Inc 9 6.72% $12,838
    Lakeview Community Capital, LLC 9 5.90% $5,079
    Carrington Mortgage Services, LLC 9 5.69% $7,886
    MORTGAGE SOLUTIONS OF COLORADO, LLC 9 7.26% $5,688
    First State Bank 8 6.55% $11,505
    Magnolia Bank 8 5.72% $15,343
    University Bank 7 6.25% $8,121
    AMERICAN FINANCIAL NETWORK, INC. 7 6.34% $7,684
    CARDINAL FINANCIAL 7 6.23% $9,030
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.29% $5,498
    The Dart Bank 6 6.25% $8,402
    DAS Acquisition Company, LLC 6 6.75% $4,711
    The Loan Store, Inc. 6 6.35% $8,195
    M/I FINANCIAL, LLC 6 5.94% $9,446
    CALCON MUTUAL MORTGAGE LLC 6 6.50% $7,297
    INSPIRE HOME LOANS INC. 6 5.92% $9,004
    MICHIGAN FIRST CREDIT UNION 6 6.73% $5,339
    STOCKTON MORTGAGE CORPORATION 6 6.33% $10,220
    AmeriHome Mortgage Company, LLC 5 6.18% $5,217
    MEMBER FIRST MORTGAGE, LLC 5 6.98% $9,142
    PULTE MORTGAGE LLC 5 6.45% $7,635
    First Merchants Bank 5 6.93% $4,636
    GUILD MORTGAGE COMPANY 4 6.19% $7,309
    HOMESIDE FINANCIAL, LLC 4 5.97% $8,020
    Paramount Residential Mortgage Group, Inc. 4 6.44% $6,058
    J. VIRGIL, INC. 4 6.66% $7,697
    First Federal Bank 4 5.63% $8,332
    ROYAL UNITED MORTGAGE LLC 4 6.22% $14,339
    U.S. Bank 4 6.06% $4,926
    AMERICAN FINANCIAL RESOURCES, INC. 4 7.22% $7,750
    MOVEMENT MORTGAGE, LLC 4 6.78% $14,520
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.47% $7,918
    Prosperity Home Mortgage, LLC 3 6.46% $9,950
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 7.17% $8,606
    Armed Forces Bank 3 6.42% $9,016
    BAY EQUITY LLC 3 6.42% $3,206
    Credence Funding Corporation 3 5.79% $4,885
    DELMAR FINANCIAL COMPANY 3 6.79% $9,742
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 6.83% $2,937
    LOANPAL, LLC 3 6.25% $9,784
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.75% $14,116
    PNC Bank 3 6.67% $6,383
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.33% $4,169
    RUOFF MORTGAGE COMPANY, INC. 3 6.46% $5,262
    Texana Bank 3 6.08% $18,599
    TOWNE MORTGAGE COMPANY 3 7.08% $13,910
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.00% $13,050
    TJC Mortgage, Inc. 2 6.25% $9,198
    Ixonia Bank 2 6.38% $18,231
    GUARANTEED RATE AFFINITY, LLC 2 6.46% $1,827
    SUN WEST MORTGAGE COMPANY, INC. 2 6.37% $11,866
    BM Real Estate Services, Inc. 2 7.44% $485
    Wells Fargo Bank 2 5.94% $14,801
    Fifth Third Bank 2 6.38% $2,140
    Independent Bank 2 6.12% $148
    MORTGAGE ACCESS CORP. 2 6.25% $9,655
    PENTAGON FEDERAL CREDIT UNION 2 6.06% $3,933
    First Federal Bank of the Midwest 2 5.94% $4,126
    JMAC LENDING, INC. 2 6.00% $6,886
    Residential Mortgage Solutions, Inc. 1 6.25% $5,536
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 6.25% $3,073
    FIRST COLONY MORTGAGE CORPORATION 1 5.75% $3,213
    AMERICAN FINANCING CORPORATION 1 5.25% $16,369
    SOUTHWEST FUNDING, LP 1 6.75% $0
    EMM LOANS LLC 1 6.13% $33,589
    Stride Bank 1 6.13% $3,540
    Strong Home Mortgage, LLC 1 5.25% $0
    CORNERSTONE HOME LENDING, INC. 1 6.75% $5,656
    Summit Mortgage Corporation 1 7.13% $3,589
    Sunflower Bank 1 6.13% $5,467
    Cornerstone First Mortgage, Inc 1 6.63% $6,319
    Commerce Home Mortgage, Inc. 1 6.13% $5,287
    Citizens Bank 1 5.25% $5,801
    Century Mortgage Company DBA Century Lending Company 1 6.25% $24,015
    Capital Bank 1 6.00% $8,959
    TOP FLITE FINANCIAL, INC. 1 7.13% $9,319
    ZILLOW HOME LOANS, LLC 1 6.75% $4,522
    TruHome Solutions, LLC 1 6.50% $625
    BLG HOLDINGS, INC. 1 7.25% $14,548
    Bank of England 1 6.63% $3,023
    Nations Lending Corporation 1 5.75% $3,858
    LEADERONE FINANCIAL CORPORATION 1 6.50% $7,866
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $5,473
    KeyBank 1 6.00% $5,990
    NP, Inc. 1 6.25% $5,597
    OCMBC, INC. 1 6.75% $11,267
    HOMESITE MORTGAGE, LLC 1 6.63% $16,951
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $5,235
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $5,617
    Bank of America 1 5.50% $16,305
    PREMIA MORTGAGE, LLC 1 6.99% $8,910
    Arvest Bank 1 6.50% $9,389
    Princeton Mortgage Corporation 1 6.25% $5,228
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $4,590
    GoPrime Mortgage, Inc. 1 5.75% $11,414
    F & M Bank 1 6.50% $8,704

    The top Detroit VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 545 VA loans originated. Their average total fees are $6,944, which is $912 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Detroit VA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($3,322), PLANET HOME LENDING, LLC ($4,330), Flagstar Bank, FSB ($4,454), GUARANTEED RATE, INC. ($4,480) and NAVY FEDERAL CREDIT UNION ($4,689).

    The lowest rate Detroit VA lenders (with over 10 loans originated) are CLEARPATH LENDING (5.48%), LAKEVIEW LOAN SERVICING, LLC (5.71%), NBKC BANK (5.73%), PLANET HOME LENDING, LLC (5.76%) and PENNYMAC LOAN SERVICES, LLC (5.77%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Detroit (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 $199,900 (7.3%) $309,612 (5.3%) 0.74 9,943
    2018-02-01 $205,995 (7.1%) $318,931 (6.5%) 0.75 9,273
    2018-03-01 $224,900 (5.9%) $338,115 (8.3%) 0.79 9,085
    2018-04-01 $242,450 (7.8%) $343,602 (5.1%) 0.82 9,494
    2018-05-01 $249,900 (6.6%) $348,798 (3.2%) 0.83 10,499
    2018-06-01 $252,900 (7.4%) $353,472 (3.9%) 0.84 11,784
    2018-07-01 $249,900 (6.3%) $346,109 (2.7%) 0.83 12,982
    2018-08-01 $244,950 (8.1%) $336,207 (2.9%) 0.82 14,306
    2018-09-01 $239,900 (6.6%) $334,438 (2.9%) 0.81 14,961
    2018-10-01 $231,200 (4.4%) $326,445 (1.2%) 0.78 14,884
    2018-11-01 $225,000 (4.1%) $318,682 (0.1%) 0.76 14,432
    2018-12-01 $219,900 (4.8%) $314,529 (-0.2%) 0.76 13,257
    2019-01-01 $218,750 (9.4%) $313,352 (1.2%) 0.76 12,164
    2019-02-01 $219,950 (6.8%) $317,074 (-0.6%) 0.74 11,497
    2019-03-01 $232,814 (3.5%) $329,700 (-2.5%) 0.76 11,352
    2019-04-01 $250,400 (3.3%) $345,434 (0.5%) 0.80 11,489
    2019-05-01 $259,900 (4.0%) $351,994 (0.9%) 0.81 12,361
    2019-06-01 $262,000 (3.6%) $350,214 (-0.9%) 0.82 13,709
    2019-07-01 $259,900 (4.0%) $344,100 (-0.6%) 0.81 14,991
    2019-08-01 $253,355 (3.4%) $337,148 (0.3%) 0.80 15,527
    2019-09-01 $243,536 (1.5%) $328,224 (-1.9%) 0.78 15,830
    2019-10-01 $236,991 (2.5%) $321,800 (-1.4%) 0.76 15,906
    2019-11-01 $229,900 (2.2%) $317,760 (-0.3%) 0.75 14,872
    2019-12-01 $224,900 (2.3%) $311,265 (-1.0%) 0.75 13,036
    2020-01-01 $219,950 (0.6%) $310,516 (-0.9%) 0.74 11,629
    2020-02-01 $222,500 (1.2%) $315,616 (-0.5%) 0.73 10,735
    2020-03-01 $237,950 (2.2%) $329,604 (0.0%) 0.75 10,379
    2020-04-01 $244,018 (-2.6%) $333,336 (-3.5%) 0.76 9,897
    2020-05-01 $249,900 (-3.9%) $338,741 (-3.8%) 0.76 10,721
    2020-06-01 $272,725 (4.1%) $365,221 (4.3%) 0.80 10,264
    2020-07-01 $278,500 (7.2%) $374,380 (8.8%) 0.81 9,833
    2020-08-01 $274,900 (8.5%) $373,983 (10.9%) 0.79 9,310
    2020-09-01 $269,950 (10.9%) $373,511 (13.8%) 0.77 8,991
    2020-10-01 $265,000 (11.8%) $373,840 (16.2%) 0.76 8,483
    2020-11-01 $254,950 (10.9%) $373,438 (17.5%) 0.75 7,676
    2020-12-01 $249,950 (11.1%) $370,831 (19.1%) 0.74 6,753
    2021-01-01 $249,900 (13.6%) $372,979 (20.1%) 0.75 5,689
    2021-02-01 $250,000 (12.4%) $388,722 (23.2%) 0.73 4,730
    2021-03-01 $266,294 (11.9%) $398,162 (20.8%) 0.76 4,596
    2021-04-01 $269,950 (10.6%) $405,925 (21.8%) 0.73 4,725
    2021-05-01 $279,900 (12.0%) $409,975 (21.0%) 0.74 5,267
    2021-06-01 $276,575 (1.4%) $396,675 (8.6%) 0.73 6,498
    2021-07-01 $275,000 (-1.3%) $391,506 (4.6%) 0.73 7,192
    2021-08-01 $267,400 (-2.7%) $383,727 (2.6%) 0.71 7,991
    2021-09-01 $249,950 (-7.4%) $370,605 (-0.8%) 0.67 8,195
    2021-10-01 $242,990 (-8.3%) $360,143 (-3.7%) 0.65 7,880
    2021-11-01 $227,450 (-10.8%) $348,427 (-6.7%) 0.61 7,274
    2021-12-01 $216,950 (-13.2%) $345,719 (-6.8%) 0.59 6,293
    2022-01-01 $205,000 (-18.0%) $341,364 (-8.5%) 0.55 5,189
    2022-02-01 $216,100 (-13.6%) $354,232 (-8.9%) 0.56 4,625
    2022-03-01 $227,450 (-14.6%) $360,375 (-9.5%) 0.57 4,771
    2022-04-01 $249,900 (-7.4%) $376,980 (-7.1%) 0.60 5,012
    2022-05-01 $274,000 (-2.1%) $384,646 (-6.2%) 0.63 6,342
    2022-06-01 $279,950 (1.2%) $388,407 (-2.1%) 0.62 7,666
    2022-07-01 $279,900 (1.8%) $381,907 (-2.5%) 0.63 9,284
    2022-08-01 $272,350 (1.9%) $370,524 (-3.4%) 0.63 9,869
    2022-09-01 $263,908 (5.6%) $366,211 (-1.2%) 0.62 9,756
    2022-10-01 $250,000 (2.9%) $355,627 (-1.3%) 0.59 9,856
    2022-11-01 $247,000 (8.6%) $347,736 (-0.2%) 0.59 9,743
    2022-12-01 $230,000 (6.0%) $341,684 (-1.2%) 0.57 8,673
    2023-01-01 $227,250 (10.9%) $343,293 (0.6%) 0.56 7,432
    2023-02-01 $229,450 (6.2%) $347,618 (-1.9%) 0.55 6,513
    2023-03-01 $236,950 (4.2%) $362,607 (0.6%) 0.56 5,939
    2023-04-01 $250,000 (0.0%) $384,503 (2.0%) 0.58 5,885
    2023-05-01 $267,450 (-2.4%) $399,456 (3.9%) 0.61 6,035
    2023-06-01 $270,000 (-3.6%) $402,227 (3.6%) 0.61 6,449
    2023-07-01 $269,000 (-3.9%) $393,640 (3.1%) 0.61 6,991
    2023-08-01 $272,400 (0.0%) $389,943 (5.2%) 0.63 7,451
    2023-09-01 $262,500 (-0.5%) $386,071 (5.4%) 0.61 7,663
    2023-10-01 $252,450 (1.0%) $382,614 (7.6%) 0.59 7,910
    2023-11-01 $247,250 (0.1%) $373,072 (7.3%) 0.59 8,119
    2023-12-01 $235,900 (2.6%) $366,002 (7.1%) 0.58 7,359
    2024-01-01 $229,575 (1.0%) $363,506 (5.9%) 0.56 6,427
    2024-02-01 $229,450 (0.0%) $368,098 (5.9%) 0.55 6,204
    2024-03-01 $239,900 (1.2%) $380,002 (4.8%) 0.56 6,153
    2024-04-01 $250,000 (0.0%) $387,719 (0.8%) 0.58 6,146
    2024-05-01 $261,950 (-2.1%) $407,746 (2.1%) 0.60 6,542
    2024-06-01 $274,900 (1.8%) $420,987 (4.7%) 0.62 7,088
    2024-07-01 $279,900 (4.1%) $430,572 (9.4%) 0.64 7,736
    2024-08-01 $279,900 (2.8%) $417,041 (7.0%) 0.65 8,525
    2024-09-01 $277,000 (5.5%) $407,313 (5.5%) 0.65 8,921
    2024-10-01 $271,200 (7.4%) $399,253 (4.4%) 0.64 8,920
    2024-11-01 $260,000 (5.2%) $388,539 (4.2%) 0.62 8,789
    2024-12-01 $249,900 (5.9%) $382,461 (4.5%) 0.62 7,942
    2025-01-01 $239,950 (4.5%) $376,317 (3.5%) 0.60 7,125
    2025-02-01 $239,900 (4.6%) $378,684 (2.9%) 0.58 6,587
    2025-03-01 $245,000 (2.1%) $385,499 (1.5%) 0.58 6,735
    2025-04-01 $253,575 (1.4%) $403,421 (4.1%) 0.59 7,173
    Detroit's median listing price for 2025-04-01 was $253,575, a difference of $3,575 (1.4%) versus the prior year and $8,575 versus the prior month.

    Detroit's median listing price comes in at 59% of the national average.

    Detroit's average listing price for 2025-04-01 was $403,421, a difference of $15,702 (4.1%) versus the prior year and $17,922 versus the prior month.

    For the 2025-04-01 period, Detroit had 7,173 MLS listings, a difference of 438 listings (7%) versus the prior month and 1,027 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Detroit (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 63 days 1,578 sqft
    2018-02-01 58 days 1,581 sqft
    2018-03-01 45 days 1,644 sqft
    2018-04-01 36 days 1,686 sqft
    2018-05-01 33 days 1,713 sqft
    2018-06-01 33 days 1,734 sqft
    2018-07-01 36 days 1,723 sqft
    2018-08-01 35 days 1,700 sqft
    2018-09-01 40 days 1,692 sqft
    2018-10-01 43 days 1,642 sqft
    2018-11-01 46 days 1,613 sqft
    2018-12-01 56 days 1,585 sqft
    2019-01-01 61 days 1,582 sqft
    2019-02-01 60 days 1,596 sqft
    2019-03-01 45 days 1,632 sqft
    2019-04-01 36 days 1,684 sqft
    2019-05-01 34 days 1,717 sqft
    2019-06-01 36 days 1,728 sqft
    2019-07-01 37 days 1,724 sqft
    2019-08-01 40 days 1,706 sqft
    2019-09-01 43 days 1,675 sqft
    2019-10-01 45 days 1,651 sqft
    2019-11-01 51 days 1,624 sqft
    2019-12-01 62 days 1,598 sqft
    2020-01-01 69 days 1,584 sqft
    2020-02-01 58 days 1,586 sqft
    2020-03-01 47 days 1,605 sqft
    2020-04-01 59 days 1,620 sqft
    2020-05-01 65 days 1,640 sqft
    2020-06-01 38 days 1,725 sqft
    2020-07-01 37 days 1,740 sqft
    2020-08-01 33 days 1,710 sqft
    2020-09-01 36 days 1,669 sqft
    2020-10-01 36 days 1,641 sqft
    2020-11-01 40 days 1,600 sqft
    2020-12-01 48 days 1,576 sqft
    2021-01-01 51 days 1,557 sqft
    2021-02-01 39 days 1,562 sqft
    2021-03-01 28 days 1,577 sqft
    2021-04-01 22 days 1,595 sqft
    2021-05-01 18 days 1,604 sqft
    2021-06-01 19 days 1,600 sqft
    2021-07-01 22 days 1,590 sqft
    2021-08-01 24 days 1,558 sqft
    2021-09-01 30 days 1,514 sqft
    2021-10-01 31 days 1,493 sqft
    2021-11-01 36 days 1,451 sqft
    2021-12-01 43 days 1,421 sqft
    2022-01-01 52 days 1,406 sqft
    2022-02-01 34 days 1,416 sqft
    2022-03-01 25 days 1,441 sqft
    2022-04-01 22 days 1,486 sqft
    2022-05-01 20 days 1,537 sqft
    2022-06-01 23 days 1,559 sqft
    2022-07-01 28 days 1,551 sqft
    2022-08-01 32 days 1,531 sqft
    2022-09-01 39 days 1,522 sqft
    2022-10-01 39 days 1,500 sqft
    2022-11-01 43 days 1,484 sqft
    2022-12-01 52 days 1,453 sqft
    2023-01-01 62 days 1,443 sqft
    2023-02-01 55 days 1,455 sqft
    2023-03-01 46 days 1,473 sqft
    2023-04-01 37 days 1,508 sqft
    2023-05-01 30 days 1,530 sqft
    2023-06-01 31 days 1,536 sqft
    2023-07-01 32 days 1,531 sqft
    2023-08-01 36 days 1,522 sqft
    2023-09-01 40 days 1,508 sqft
    2023-10-01 40 days 1,480 sqft
    2023-11-01 41 days 1,461 sqft
    2023-12-01 50 days 1,445 sqft
    2024-01-01 50 days 1,457 sqft
    2024-02-01 46 days 1,447 sqft
    2024-03-01 42 days 1,462 sqft
    2024-04-01 39 days 1,479 sqft
    2024-05-01 34 days 1,497 sqft
    2024-06-01 35 days 1,511 sqft
    2024-07-01 37 days 1,521 sqft
    2024-08-01 36 days 1,519 sqft
    2024-09-01 39 days 1,510 sqft
    2024-10-01 40 days 1,504 sqft
    2024-11-01 44 days 1,514 sqft
    2024-12-01 50 days 1,487 sqft
    2025-01-01 57 days 1,447 sqft
    2025-02-01 52 days 1,447 sqft
    2025-03-01 42 days 1,454 sqft
    2025-04-01 37 days 1,483 sqft
    Detroit's median listing age (time on market) for 2025-04-01 was 37 days. This is -7% shorter than the same period one year ago.

    Detroit's median square footage for active listings during the 2025-04-01 period was 1,483 sqft. One year prior, the average listing was 1,479 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.