Eau Claire VA Loan Rates, Closing Costs & Stats

EAU CLAIRE, WI

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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.

    Eau Claire's 33 lenders originated 111 VA loans during 2023. The total origination value was $32,045,000, with an average VA loan value of $288,694.

    Eau Claire VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Eau Claire averaged 6.97% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Eau Claire's average VA mortgage closing costs are $5,161.

    The average rate for the prior week (2024-04-12) was 6.9% and one month ago for the week of 2024-03-15, the average rate was 6.76%.

    The average rate one year ago was 6.35%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.05%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Eau Claire level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 32 6.75% $7,235
    NAVY FEDERAL CREDIT UNION 9 5.94% $5,633
    QUICKEN LOANS, LLC 7 5.91% $12,328
    UNITED WHOLESALE MORTGAGE, LLC 7 6.43% $9,010
    FIRST COMMUNITY MORTGAGE, INC. 6 6.67% $7,629
    NEW DAY FINANCIAL, LLC 4 7.81% $9,790
    USAA Federal Savings Bank 4 6.53% $13,314
    LOANDEPOT.COM, LLC 3 6.87% $10,505
    Barrington Bank & Trust Company, N.A. 3 6.25% $6,237
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $6,220
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.88% $14,357
    American Mortgage & Equity Consultants, Inc. 2 6.25% $6,663
    U.S. Bank 2 5.56% $6,661
    Prosperity Home Mortgage, LLC 2 5.75% $5,378
    Paramount Residential Mortgage Group, Inc. 1 7.25% $3,801
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.00% $2,219
    Royal Credit Union 1 6.25% $13,931
    The Federal Savings Bank 1 5.75% $7,668
    ALTRA 1 6.13% $8,518
    Wells Fargo Bank 1 7.38% $2,464
    Associated Bank 1 6.13% $11,076
    Capital Bank 1 5.75% $5,541
    CARDINAL FINANCIAL 1 6.25% $22,324
    CRESCENT MORTGAGE COMPANY 1 6.63% $1,206
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $11,051
    DAS Acquisition Company, LLC 1 6.63% $200
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $6,638
    GUARANTEED RATE, INC. 1 6.13% $24,318
    Merchants Bank 1 6.28% $4,366
    Mid-Continent Funding, Inc. 1 6.63% $12,666
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $11,100
    Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $3,940
    NEWREZ LLC 1 6.63% $9,610

    The top Eau Claire VA lender as defined by loan originations is Mortgage Research Center, LLC, with 32 VA loans originated. Their average total fees are $7,235, which is $1,603 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Eau Claire VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,235), .

    The lowest rate Eau Claire VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.75%), .

    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 $233,900 (6.4%) $285,151 (2.8%) 0.87 299
    2018-02-01 $244,900 (4.3%) $294,674 (-0.1%) 0.89 308
    2018-03-01 $248,900 (2.7%) $288,016 (-4.1%) 0.87 358
    2018-04-01 $244,900 (2.1%) $285,823 (-7.4%) 0.83 363
    2018-05-01 $249,900 (0.0%) $289,666 (-8.0%) 0.83 381
    2018-06-01 $258,900 (4.3%) $302,409 (-2.1%) 0.86 378
    2018-07-01 $252,400 (1.0%) $297,157 (-4.0%) 0.84 432
    2018-08-01 $249,900 (2.0%) $292,739 (-3.1%) 0.84 483
    2018-09-01 $239,900 (2.1%) $289,875 (-2.6%) 0.81 474
    2018-10-01 $232,688 (1.3%) $283,338 (-4.3%) 0.79 481
    2018-11-01 $230,194 (2.1%) $283,529 (-3.2%) 0.78 443
    2018-12-01 $234,900 (3.3%) $286,576 (5.2%) 0.81 358
    2019-01-01 $240,450 (2.8%) $290,761 (2.0%) 0.83 333
    2019-02-01 $254,025 (3.7%) $308,380 (4.7%) 0.86 321
    2019-03-01 $259,900 (4.4%) $325,697 (13.1%) 0.85 314
    2019-04-01 $259,900 (6.1%) $320,815 (12.2%) 0.83 328
    2019-05-01 $249,900 (0.0%) $311,472 (7.5%) 0.78 347
    2019-06-01 $249,900 (-3.5%) $302,688 (0.1%) 0.78 389
    2019-07-01 $244,450 (-3.2%) $303,396 (2.1%) 0.77 406
    2019-08-01 $242,245 (-3.1%) $306,104 (4.6%) 0.77 412
    2019-09-01 $238,114 (-0.7%) $303,614 (4.7%) 0.76 421
    2019-10-01 $234,900 (1.0%) $299,117 (5.6%) 0.76 443
    2019-11-01 $229,900 (-0.1%) $299,206 (5.5%) 0.75 433
    2019-12-01 $225,675 (-3.9%) $303,351 (5.9%) 0.75 375
    2020-01-01 $229,900 (-4.4%) $307,970 (5.9%) 0.77 306
    2020-02-01 $259,900 (2.3%) $329,594 (6.9%) 0.85 282
    2020-03-01 $261,463 (0.6%) $331,988 (1.9%) 0.82 304
    2020-04-01 $262,519 (1.0%) $323,208 (0.8%) 0.82 335
    2020-05-01 $270,400 (8.2%) $326,960 (5.0%) 0.82 325
    2020-06-01 $278,850 (11.6%) $345,983 (14.3%) 0.82 304
    2020-07-01 $286,350 (17.1%) $355,069 (17.0%) 0.83 269
    2020-08-01 $274,900 (13.5%) $341,358 (11.5%) 0.79 265
    2020-09-01 $263,450 (10.6%) $323,338 (6.5%) 0.75 283
    2020-10-01 $254,950 (8.5%) $312,344 (4.4%) 0.73 237
    2020-11-01 $248,450 (8.1%) $299,020 (-0.1%) 0.73 241
    2020-12-01 $248,481 (10.1%) $301,949 (-0.5%) 0.74 208
    2021-01-01 $259,400 (12.8%) $335,312 (8.9%) 0.77 140
    2021-02-01 $272,050 (4.7%) $352,700 (7.0%) 0.79 136
    2021-03-01 $266,150 (1.8%) $380,747 (14.7%) 0.76 121
    2021-04-01 $272,400 (3.8%) $381,430 (18.0%) 0.74 127
    2021-05-01 $274,900 (1.7%) $349,948 (7.0%) 0.73 157
    2021-06-01 $284,900 (2.2%) $349,311 (1.0%) 0.75 178
    2021-07-01 $287,450 (0.4%) $348,141 (-2.0%) 0.76 206
    2021-08-01 $299,900 (9.1%) $347,883 (1.9%) 0.80 222
    2021-09-01 $299,925 (13.9%) $355,587 (10.0%) 0.80 256
    2021-10-01 $279,900 (9.8%) $337,645 (8.1%) 0.75 247
    2021-11-01 $282,450 (13.7%) $359,647 (20.3%) 0.75 216
    2021-12-01 $298,175 (20.0%) $360,246 (19.3%) 0.81 186
    2022-01-01 $289,900 (11.8%) $349,399 (4.2%) 0.78 139
    2022-02-01 $312,325 (14.8%) $370,575 (5.1%) 0.81 116
    2022-03-01 $324,400 (21.9%) $399,467 (4.9%) 0.81 118
    2022-04-01 $319,900 (17.4%) $379,819 (-0.4%) 0.76 134
    2022-05-01 $333,450 (21.3%) $394,776 (12.8%) 0.76 171
    2022-06-01 $354,200 (24.3%) $406,406 (16.4%) 0.79 202
    2022-07-01 $345,450 (20.2%) $393,280 (13.0%) 0.78 257
    2022-08-01 $364,925 (21.7%) $412,939 (18.7%) 0.84 246
    2022-09-01 $369,900 (23.3%) $417,447 (17.4%) 0.86 226
    2022-10-01 $372,400 (33.1%) $424,514 (25.7%) 0.88 222
    2022-11-01 $357,450 (26.6%) $406,479 (13.0%) 0.86 224
    2022-12-01 $359,900 (20.7%) $406,800 (12.9%) 0.89 190
    2023-01-01 $359,450 (24.0%) $409,840 (17.3%) 0.89 159
    2023-02-01 $332,475 (6.5%) $407,618 (10.0%) 0.80 140
    2023-03-01 $334,950 (3.3%) $413,482 (3.5%) 0.79 136
    2023-04-01 $346,900 (8.4%) $433,717 (14.2%) 0.81 131
    2023-05-01 $382,450 (14.7%) $467,997 (18.6%) 0.87 143
    2023-06-01 $382,450 (8.0%) $451,488 (11.1%) 0.86 157
    2023-07-01 $394,950 (14.3%) $469,206 (19.3%) 0.90 183
    2023-08-01 $372,413 (2.1%) $451,009 (9.2%) 0.86 219
    2023-09-01 $364,900 (-1.4%) $446,174 (6.9%) 0.85 244
    2023-10-01 $368,425 (-1.1%) $441,492 (4.0%) 0.87 280
    2023-11-01 $385,500 (7.9%) $455,979 (12.2%) 0.92 248
    2023-12-01 $395,000 (9.8%) $456,762 (12.3%) 0.96 213
    2024-01-01 $399,900 (11.3%) $466,856 (13.9%) 0.98 171
    2024-02-01 $399,900 (20.3%) $471,779 (15.7%) 0.96 161
    2024-03-01 $399,900 (19.4%) $464,711 (12.4%) 0.94 171
    Eau Claire's median listing price for 2024-03-01 was $399,900, a difference of $64,950 (19.4%) versus the prior year and $0 versus the prior month.

    Eau Claire's median listing price comes in at 94% of the national average.

    Eau Claire's average listing price for 2024-03-01 was $464,711, a difference of $51,229 (12.4%) versus the prior year and $-7,068 versus the prior month.

    For the 2024-03-01 period, Eau Claire had 171 MLS listings, a difference of 10 listings (6%) versus the prior month and 35 listings (26%) 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
    2018-01-01 118 days 2,015 sqft
    2018-02-01 103 days 1,964 sqft
    2018-03-01 41 days 2,018 sqft
    2018-04-01 45 days 2,067 sqft
    2018-05-01 53 days 2,029 sqft
    2018-06-01 51 days 2,027 sqft
    2018-07-01 48 days 2,052 sqft
    2018-08-01 47 days 2,036 sqft
    2018-09-01 54 days 1,975 sqft
    2018-10-01 61 days 1,977 sqft
    2018-11-01 70 days 1,876 sqft
    2018-12-01 92 days 1,840 sqft
    2019-01-01 98 days 1,796 sqft
    2019-02-01 94 days 1,949 sqft
    2019-03-01 70 days 2,020 sqft
    2019-04-01 50 days 1,997 sqft
    2019-05-01 44 days 1,839 sqft
    2019-06-01 40 days 1,906 sqft
    2019-07-01 49 days 1,887 sqft
    2019-08-01 55 days 1,818 sqft
    2019-09-01 58 days 1,784 sqft
    2019-10-01 58 days 1,762 sqft
    2019-11-01 64 days 1,745 sqft
    2019-12-01 80 days 1,716 sqft
    2020-01-01 89 days 1,722 sqft
    2020-02-01 96 days 1,796 sqft
    2020-03-01 57 days 1,905 sqft
    2020-04-01 51 days 1,900 sqft
    2020-05-01 49 days 1,965 sqft
    2020-06-01 58 days 2,066 sqft
    2020-07-01 62 days 2,011 sqft
    2020-08-01 47 days 2,028 sqft
    2020-09-01 33 days 1,922 sqft
    2020-10-01 40 days 1,890 sqft
    2020-11-01 43 days 1,785 sqft
    2020-12-01 59 days 1,784 sqft
    2021-01-01 72 days 1,800 sqft
    2021-02-01 50 days 1,854 sqft
    2021-03-01 31 days 1,800 sqft
    2021-04-01 25 days 1,803 sqft
    2021-05-01 18 days 1,672 sqft
    2021-06-01 26 days 1,683 sqft
    2021-07-01 26 days 1,714 sqft
    2021-08-01 31 days 1,913 sqft
    2021-09-01 38 days 1,859 sqft
    2021-10-01 45 days 1,685 sqft
    2021-11-01 56 days 1,698 sqft
    2021-12-01 56 days 1,735 sqft
    2022-01-01 66 days 1,628 sqft
    2022-02-01 63 days 1,672 sqft
    2022-03-01 40 days 1,725 sqft
    2022-04-01 23 days 1,825 sqft
    2022-05-01 23 days 2,047 sqft
    2022-06-01 27 days 2,084 sqft
    2022-07-01 30 days 1,952 sqft
    2022-08-01 42 days 2,129 sqft
    2022-09-01 53 days 2,098 sqft
    2022-10-01 48 days 2,047 sqft
    2022-11-01 49 days 1,994 sqft
    2022-12-01 68 days 2,000 sqft
    2023-01-01 78 days 1,970 sqft
    2023-02-01 78 days 1,834 sqft
    2023-03-01 59 days 1,840 sqft
    2023-04-01 36 days 1,893 sqft
    2023-05-01 30 days 2,122 sqft
    2023-06-01 28 days 2,152 sqft
    2023-07-01 29 days 2,154 sqft
    2023-08-01 30 days 2,028 sqft
    2023-09-01 39 days 2,000 sqft
    2023-10-01 43 days 2,083 sqft
    2023-11-01 62 days 2,083 sqft
    2023-12-01 83 days 2,059 sqft
    2024-01-01 99 days 2,011 sqft
    2024-02-01 83 days 2,014 sqft
    2024-03-01 40 days 2,085 sqft
    Eau Claire's median listing age (time on market) for 2024-03-01 was 40 days. This is -32% shorter than the same period one year ago.

    Eau Claire's median square footage for active listings during the 2024-03-01 period was 2,085 sqft. One year prior, the average listing was 1,840 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.