Eau Claire VA Loan Rates, Closing Costs & Stats

EAU CLAIRE, WI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.65% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.51% and one month ago for the week of 2024-10-04, the average rate was 5.73%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.43%.

    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%), .

    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.