Eau Claire VA Loans

EAU CLAIRE, WI

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 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.

Eau Claire's 70 lenders originated 422 VA loans during 2021. The total origination value was $97,120,000, with an average VA loan value of $230,142.

Eau Claire VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Eau Claire averaged 5.55% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

The average rate for the prior week (2022-07-29) was 5.3% and one month ago for the week of 2022-07-01, the average rate was 5.82%.

The average rate one year ago was 3%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.21%.

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

Eau Claire VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Eau Claire level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 59 2.83% $4,641
QUICKEN LOANS, LLC 46 2.53% $4,784
Wells Fargo Bank 25 2.46% $4,269
FREEDOM MORTGAGE CORPORATION 22 2.61% $2,482
USAA Federal Savings Bank 19 2.93% $3,052
NEW DAY FINANCIAL, LLC 16 2.74% $4,421
NAVY FEDERAL CREDIT UNION 15 2.44% $3,429
PENNYMAC LOAN SERVICES, LLC 14 2.38% $4,461
U.S. Bank 14 2.89% $5,647
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.33% $7,506
LOANDEPOT.COM, LLC 9 3.26% $6,519
American Mortgage & Equity Consultants, Inc. 9 3.03% $6,417
Barrington Bank & Trust Company, N.A. 6 2.74% $4,650
CRESCENT MORTGAGE COMPANY 6 2.75% $5,529
UNITED WHOLESALE MORTGAGE, LLC 6 2.73% $4,558
Prosperity Home Mortgage, LLC 5 2.75% $6,391
Low VA Rates, LLC 5 2.45% $5,801
Associated Bank 5 2.80% $5,675
CLEARPATH LENDING 5 2.48% $3,693
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.05% $8,561
LAKEVIEW LOAN SERVICING, LLC 4 2.28% $1,626
The Federal Savings Bank 4 2.59% $6,085
AMERISAVE MORTGAGE CORPORATION 4 2.47% $8,513
Mr. Cooper ( Nationstar Mortgage ) 4 2.91% $4,670
CROSSCOUNTRY MORTGAGE, LLC 4 2.90% $8,389
Magnolia Bank 3 2.37% $4,839
VILLAGE CAPITAL & INVESTMENT LLC 3 2.25% $1,892
BROKER SOLUTIONS, INC. 3 2.46% $9,613
Flagstar Bank, FSB 3 2.85% $1,946
TOWNE MORTGAGE COMPANY 2 2.94% $5,254
AMERICAN FINANCIAL NETWORK, INC. 2 2.44% $13,712
EMBRACE HOME LOANS, INC. 2 3.87% $11,579
FINANCE OF AMERICA MORTGAGE LLC 2 3.06% $12,587
North American Savings Bank, F.S.B. 2 2.25% $1,218
PLANET HOME LENDING, LLC 2 2.31% $1,729
Servion, Inc. 2 2.75% $5,220
ACCELERATE MORTGAGE, LLC 2 1.87% $7,312
HOME POINT FINANCIAL CORPORATION 1 2.25% $1,165
Merchants Bank 1 2.65% $1,880
MICHIGAN MUTUAL, INC. 1 3.25% $4,104
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.13% $6,058
HANCOCK MORTGAGE PARTNERS, LLC 1 3.25% $8,174
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.25% $7,664
First Federal Bank 1 2.75% $9,938
NEWREZ LLC 1 2.75% $2,773
Bank of England 1 3.13% $10,044
Northpointe Bank 1 2.25% $7,837
PARKSIDE LENDING, LLC 1 3.38% $712
FirstBank 1 2.38% $1,789
PENTAGON FEDERAL CREDIT UNION 1 2.38% $1,155
Plains Commerce Bank 1 2.50% $5,001
Waterstone Mortgage Corporation 1 3.38% $2,924
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $1,901
Citizens Bank 1 2.25% $6,296
Carrington Mortgage Services, LLC 1 2.25% $3,610
Capital Bank 1 2.25% $2,263
AMERICAN FINANCING CORPORATION 1 2.75% $3,378
Sierra Pacific Mortgage Company, Inc. 1 2.50% $7,177
SOVEREIGN LENDING GROUP INCORPORATED 1 3.75% $9,279
SUN WEST MORTGAGE COMPANY, INC. 1 2.50% $1,881
CALIBER HOME LOANS, INC. 1 2.25% $2,341
ZILLOW HOME LOANS, LLC 1 2.38% $7,037
Tradition Mortgage, LLC 1 2.25% $719
Bremer Bank 1 3.13% $2,472
BNC National Bank 1 2.50% $8,749
BELEM SERVICING LLC 1 3.63% $3,049
Lake Area Bank 1 2.63% $15,625
KELLER MORTGAGE, LLC 1 2.25% $5,862
INLANTA MORTGAGE, INC. 1 2.88% $4,044
HOMESTEAD FUNDING CORP. 1 2.38% $1,478

The top Eau Claire VA lender as defined by loan originations is Mortgage Research Center, LLC, with 59 VA loans originated. Their average total fees are $4,641, which is $144 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Eau Claire VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,482), USAA Federal Savings Bank ($3,052), NAVY FEDERAL CREDIT UNION ($3,429), Wells Fargo Bank ($4,269) and NEW DAY FINANCIAL, LLC ($4,421).

The lowest rate Eau Claire VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (2.38%), NAVY FEDERAL CREDIT UNION (2.44%), Wells Fargo Bank (2.46%), QUICKEN LOANS, LLC (2.53%) and FREEDOM MORTGAGE CORPORATION (2.61%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Eau Claire (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 $235,950 (4.9%) $302,134 (6.1%) 0.87 328
2018-02-01 $249,850 (4.2%) $309,500 (2.4%) 0.90 340
2018-03-01 $249,900 (3.1%) $300,467 (-1.9%) 0.86 393
2018-04-01 $244,900 (-0.9%) $291,255 (-9.5%) 0.82 390
2018-05-01 $249,900 (-1.6%) $291,105 (-10.1%) 0.83 414
2018-06-01 $269,900 (8.0%) $314,499 (-0.6%) 0.90 414
2018-07-01 $260,400 (0.2%) $314,534 (0.1%) 0.87 483
2018-08-01 $257,450 (-0.7%) $312,073 (-3.1%) 0.86 550
2018-09-01 $249,900 (0.0%) $308,164 (-1.2%) 0.84 534
2018-10-01 $239,900 (0.2%) $297,382 (-4.5%) 0.80 550
2018-11-01 $234,900 (2.6%) $296,906 (-3.2%) 0.79 500
2018-12-01 $239,000 (4.9%) $300,064 (4.1%) 0.82 407
2019-01-01 $244,900 (3.8%) $307,846 (1.9%) 0.84 380
2019-02-01 $256,400 (2.6%) $326,775 (5.6%) 0.86 366
2019-03-01 $262,900 (5.2%) $339,571 (13.0%) 0.86 356
2019-04-01 $262,900 (7.4%) $339,434 (16.5%) 0.83 370
2019-05-01 $257,400 (3.0%) $325,362 (11.8%) 0.79 393
2019-06-01 $249,900 (-7.4%) $307,893 (-2.1%) 0.77 452
2019-07-01 $248,900 (-4.4%) $308,570 (-1.9%) 0.77 467
2019-08-01 $240,943 (-6.4%) $303,780 (-2.7%) 0.76 525
2019-09-01 $234,743 (-6.1%) $294,703 (-4.4%) 0.75 555
2019-10-01 $237,200 (-1.1%) $297,215 (-0.1%) 0.76 517
2019-11-01 $236,900 (0.9%) $295,065 (-0.6%) 0.76 478
2019-12-01 $227,450 (-4.8%) $301,576 (0.5%) 0.76 416
2020-01-01 $231,825 (-5.3%) $303,898 (-1.3%) 0.77 346
2020-02-01 $264,900 (3.3%) $331,281 (1.4%) 0.85 322
2020-03-01 $264,950 (0.8%) $336,533 (-0.9%) 0.83 353
2020-04-01 $267,900 (1.9%) $325,489 (-4.1%) 0.83 386
2020-05-01 $279,900 (8.7%) $330,875 (1.7%) 0.85 371
2020-06-01 $282,450 (13.0%) $347,064 (12.7%) 0.82 332
2020-07-01 $279,900 (12.5%) $348,672 (13.0%) 0.80 289
2020-08-01 $275,000 (14.1%) $341,911 (12.6%) 0.79 276
2020-09-01 $266,400 (13.5%) $329,193 (11.7%) 0.76 296
2020-10-01 $255,000 (7.5%) $319,677 (7.6%) 0.73 252
2020-11-01 $249,450 (5.3%) $305,771 (3.6%) 0.71 254
2020-12-01 $250,000 (9.9%) $309,486 (2.6%) 0.73 218
2021-01-01 $264,900 (14.3%) $353,668 (16.4%) 0.78 157
2021-02-01 $278,650 (5.2%) $384,034 (15.9%) 0.80 149
2021-03-01 $273,950 (3.4%) $432,691 (28.6%) 0.77 133
2021-04-01 $279,950 (4.5%) $429,651 (32.0%) 0.75 137
2021-05-01 $279,000 (-0.3%) $386,014 (16.7%) 0.73 160
2021-06-01 $287,400 (1.8%) $383,030 (10.4%) 0.75 187
2021-07-01 $312,400 (11.6%) $366,279 (5.1%) 0.81 216
2021-08-01 $269,900 (-1.9%) $322,773 (-5.6%) 0.71 557
2021-09-01 $263,725 (-1.0%) $318,326 (-3.3%) 0.69 525
2021-10-01 $262,000 (2.8%) $317,962 (-0.5%) 0.69 521
2021-11-01 $284,900 (14.2%) $371,178 (21.4%) 0.75 227
2021-12-01 $292,500 (17.0%) $369,983 (19.6%) 0.78 196
2022-01-01 $298,900 (12.8%) $363,239 (2.7%) 0.80 145
2022-02-01 $324,900 (16.6%) $409,388 (6.6%) 0.83 125
2022-03-01 $341,400 (24.6%) $442,699 (2.3%) 0.84 127
2022-04-01 $319,900 (14.3%) $403,234 (-6.2%) 0.75 143
2022-05-01 $329,450 (18.1%) $402,933 (4.4%) 0.74 183
2022-06-01 $367,900 (28.0%) $421,560 (10.1%) 0.82 215
Eau Claire's median listing price for 2022-06-01 was $367,900, a difference of $80,500 (28.0%) versus the prior year and $38,450 versus the prior month.

Eau Claire's median listing price comes in at 82% of the national average.

Eau Claire's average listing price for 2022-06-01 was $421,560, a difference of $38,530 (10.1%) versus the prior year and $18,627 versus the prior month.

For the 2022-06-01 period, Eau Claire had 215 MLS listings, a difference of 32 listings (17%) versus the prior month and 28 listings (15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Eau Claire (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 129 days 2,032 sqft
2018-02-01 115 days 2,022 sqft
2018-03-01 46 days 2,072 sqft
2018-04-01 48 days 2,100 sqft
2018-05-01 56 days 2,037 sqft
2018-06-01 55 days 2,072 sqft
2018-07-01 51 days 2,132 sqft
2018-08-01 52 days 2,124 sqft
2018-09-01 61 days 2,033 sqft
2018-10-01 66 days 2,029 sqft
2018-11-01 74 days 1,925 sqft
2018-12-01 94 days 1,900 sqft
2019-01-01 104 days 1,896 sqft
2019-02-01 100 days 2,046 sqft
2019-03-01 84 days 2,095 sqft
2019-04-01 64 days 2,070 sqft
2019-05-01 46 days 1,937 sqft
2019-06-01 43 days 1,920 sqft
2019-07-01 50 days 1,911 sqft
2019-08-01 56 days 1,809 sqft
2019-09-01 57 days 1,777 sqft
2019-10-01 58 days 1,782 sqft
2019-11-01 65 days 1,750 sqft
2019-12-01 78 days 1,739 sqft
2020-01-01 91 days 1,742 sqft
2020-02-01 94 days 1,850 sqft
2020-03-01 58 days 1,983 sqft
2020-04-01 55 days 1,984 sqft
2020-05-01 55 days 2,033 sqft
2020-06-01 64 days 2,073 sqft
2020-07-01 69 days 2,022 sqft
2020-08-01 51 days 2,064 sqft
2020-09-01 36 days 1,965 sqft
2020-10-01 43 days 1,900 sqft
2020-11-01 50 days 1,811 sqft
2020-12-01 65 days 1,802 sqft
2021-01-01 78 days 1,854 sqft
2021-02-01 78 days 1,953 sqft
2021-03-01 47 days 1,867 sqft
2021-04-01 31 days 1,820 sqft
2021-05-01 24 days 1,700 sqft
2021-06-01 33 days 1,707 sqft
2021-07-01 30 days 1,837 sqft
2021-08-01 39 days 1,801 sqft
2021-09-01 43 days 1,808 sqft
2021-10-01 43 days 1,794 sqft
2021-11-01 58 days 1,732 sqft
2021-12-01 57 days 1,752 sqft
2022-01-01 65 days 1,695 sqft
2022-02-01 66 days 1,705 sqft
2022-03-01 36 days 1,819 sqft
2022-04-01 24 days 1,896 sqft
2022-05-01 26 days 2,041 sqft
2022-06-01 29 days 2,107 sqft
Eau Claire's median listing age (time on market) for 2022-06-01 was 29 days. This is -12% shorter than the same period one year ago.

Eau Claire's median square footage for active listings during the 2022-06-01 period was 2,107 sqft. One year prior, the average listing was 1,707 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.