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 51 lenders originated 182 VA loans during 2022. The total origination value was $49,730,000, with an average VA loan value of $273,242.

    Eau Claire VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Eau Claire averaged 6.2% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Eau Claire's average VA mortgage closing costs are $4,913.

    The average rate for the prior week (2023-05-19) was 6.12% and one month ago for the week of 2023-04-21, the average rate was 5.94%.

    The average rate one year ago was 4.71%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.39%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 45 4.84% $7,535
    QUICKEN LOANS, LLC 17 3.95% $7,807
    FREEDOM MORTGAGE CORPORATION 11 4.84% $8,478
    USAA Federal Savings Bank 10 4.91% $6,723
    NAVY FEDERAL CREDIT UNION 8 4.44% $4,279
    FINANCE OF AMERICA MORTGAGE LLC 6 5.31% $10,250
    Wells Fargo Bank 6 3.83% $4,581
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 4.96% $6,212
    NEW DAY FINANCIAL, LLC 5 3.85% $6,904
    Mr. Cooper ( Nationstar Mortgage ) 4 4.34% $9,739
    The Federal Savings Bank 4 5.41% $15,178
    American Mortgage & Equity Consultants, Inc. 3 5.50% $3,940
    LOANDEPOT.COM, LLC 3 4.46% $9,023
    UNITED WHOLESALE MORTGAGE, LLC 3 4.63% $6,378
    Barrington Bank & Trust Company, N.A. 2 5.75% $8,764
    AMERICAN FINANCING CORPORATION 2 4.75% $5,445
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.75% $6,695
    U.S. Bank 2 5.13% $5,519
    GUARANTEED RATE, INC. 2 5.75% $8,254
    Servion, Inc. 2 6.06% $8,090
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.81% $2,597
    SOVEREIGN LENDING GROUP INCORPORATED 2 3.50% $8,407
    AMERISAVE MORTGAGE CORPORATION 2 4.25% $12,056
    Royal Credit Union 1 7.63% $9,813
    Summit Mortgage Corporation 1 3.75% $8,151
    TOWNE MORTGAGE COMPANY 1 3.38% $16,988
    VILLAGE CAPITAL MORTGAGE 1 3.38% $3,113
    Waterstone Mortgage Corporation 1 5.63% $2,857
    Tradition Mortgage, LLC 1 4.63% $13,484
    Associated Bank 1 3.00% $11,826
    Bank First, N.A. 1 5.50% $9,915
    BAY EQUITY LLC 1 5.50% $6,088
    BROKER SOLUTIONS, INC. 1 5.10% $5,700
    CALIBER HOME LOANS, INC. 1 4.45% $6,413
    Carrington Mortgage Services, LLC 1 4.88% $14,212
    Citizens Bank 1 6.75% $18,478
    CLEARPATH LENDING 1 2.88% $2,039
    CRESCENT MORTGAGE COMPANY 1 5.25% $29,182
    CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $10,511
    ENVOY MORTGAGE, LTD 1 5.63% $1,602
    FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $6,198
    Flagstar Bank, FSB 1 3.24% $1,421
    KELLER MORTGAGE, LLC 1 3.88% $13,618
    LEADERONE FINANCIAL CORPORATION 1 4.50% $5,193
    Low VA Rates, LLC 1 5.50% $11,859
    Mid-Continent Funding, Inc. 1 5.13% $2,628
    M&T Bank 1 5.75% $2,299
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.50% $4,810
    PENNYMAC LOAN SERVICES, LLC 1 3.25% $5,783
    PLAZA HOME MORTGAGE, INC. 1 4.63% $8,289
    Prosperity Home Mortgage, LLC 1 3.25% $8,639

    The top Eau Claire VA lender as defined by loan originations is Mortgage Research Center, LLC, with 45 VA loans originated. Their average total fees are $7,535, which is $272 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Eau Claire VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($6,723), Mortgage Research Center, LLC ($7,535), QUICKEN LOANS, LLC ($7,807), FREEDOM MORTGAGE CORPORATION ($8,478) and .

    The lowest rate Eau Claire VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.95%), FREEDOM MORTGAGE CORPORATION (4.84%), Mortgage Research Center, LLC (4.84%), USAA Federal Savings Bank (4.91%) and .

    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 (2.4%) $288,016 (-4.2%) 0.87 358
    2018-04-01 $244,900 (2.1%) $285,823 (-7.6%) 0.83 363
    2018-05-01 $249,900 (0.0%) $289,666 (-8.2%) 0.83 381
    2018-06-01 $258,900 (3.8%) $302,409 (-2.2%) 0.86 378
    2018-07-01 $252,400 (1.0%) $297,157 (-4.1%) 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%) $286,277 (5.1%) 0.81 359
    2019-01-01 $239,650 (2.5%) $290,113 (1.7%) 0.83 335
    2019-02-01 $253,050 (3.3%) $307,584 (4.4%) 0.85 323
    2019-03-01 $259,200 (4.1%) $325,392 (13.0%) 0.86 299
    2019-04-01 $260,100 (6.2%) $321,752 (12.6%) 0.83 329
    2019-05-01 $249,900 (0.0%) $311,097 (7.4%) 0.78 348
    2019-06-01 $249,900 (-3.5%) $302,368 (0.0%) 0.78 390
    2019-07-01 $243,950 (-3.4%) $303,098 (2.0%) 0.76 407
    2019-08-01 $239,900 (-4.0%) $307,930 (5.2%) 0.75 424
    2019-09-01 $237,650 (-0.9%) $299,832 (3.4%) 0.75 436
    2019-10-01 $234,450 (0.8%) $297,508 (5.0%) 0.76 457
    2019-11-01 $229,900 (-0.1%) $299,206 (5.5%) 0.75 433
    2019-12-01 $225,675 (-3.9%) $303,351 (6.0%) 0.75 375
    2020-01-01 $229,900 (-4.1%) $307,970 (6.2%) 0.77 306
    2020-02-01 $259,900 (2.7%) $329,594 (7.2%) 0.85 282
    2020-03-01 $261,463 (0.9%) $331,988 (2.0%) 0.82 304
    2020-04-01 $262,519 (0.9%) $323,208 (0.5%) 0.82 335
    2020-05-01 $270,400 (8.2%) $326,960 (5.1%) 0.82 325
    2020-06-01 $279,375 (11.8%) $345,963 (14.4%) 0.82 305
    2020-07-01 $286,775 (17.6%) $355,011 (17.1%) 0.83 270
    2020-08-01 $274,900 (14.6%) $341,231 (10.8%) 0.79 264
    2020-09-01 $262,500 (10.5%) $323,279 (7.8%) 0.75 282
    2020-10-01 $255,000 (8.8%) $313,304 (5.3%) 0.73 238
    2020-11-01 $249,450 (8.5%) $300,119 (0.3%) 0.73 242
    2020-12-01 $249,900 (10.7%) $303,196 (-0.1%) 0.74 209
    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 $274,950 (1.7%) $349,948 (7.0%) 0.73 157
    2021-06-01 $284,900 (2.0%) $349,821 (1.1%) 0.75 178
    2021-07-01 $287,450 (0.2%) $348,141 (-1.9%) 0.76 206
    2021-08-01 $299,900 (9.1%) $347,883 (2.0%) 0.80 222
    2021-09-01 $299,925 (14.3%) $355,587 (10.0%) 0.80 256
    2021-10-01 $279,900 (9.8%) $337,645 (7.8%) 0.75 247
    2021-11-01 $282,450 (13.2%) $359,647 (19.8%) 0.76 216
    2021-12-01 $298,175 (19.3%) $360,246 (18.8%) 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 $326,900 (22.8%) $400,242 (5.1%) 0.82 118
    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 (16.2%) 0.79 202
    2022-07-01 $346,000 (20.4%) $393,280 (13.0%) 0.78 257
    2022-08-01 $364,925 (21.7%) $413,096 (18.8%) 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%) $406,062 (12.7%) 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 (2.5%) $413,482 (3.3%) 0.79 136
    2023-04-01 $346,900 (8.4%) $433,717 (14.2%) 0.81 131
    Eau Claire's median listing price for 2023-04-01 was $346,900, a difference of $27,000 (8.4%) versus the prior year and $11,950 versus the prior month.

    Eau Claire's median listing price comes in at 81% of the national average.

    Eau Claire's average listing price for 2023-04-01 was $433,717, a difference of $53,898 (14.2%) versus the prior year and $20,235 versus the prior month.

    For the 2023-04-01 period, Eau Claire had 131 MLS listings, a difference of -5 listings (-4%) versus the prior month and -3 listings (-2%) 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
    2018-01-01 128 days 2,015 sqft
    2018-02-01 112 days 1,964 sqft
    2018-03-01 46 days 2,018 sqft
    2018-04-01 48 days 2,067 sqft
    2018-05-01 57 days 2,029 sqft
    2018-06-01 57 days 2,027 sqft
    2018-07-01 52 days 2,052 sqft
    2018-08-01 52 days 2,036 sqft
    2018-09-01 60 days 1,975 sqft
    2018-10-01 66 days 1,977 sqft
    2018-11-01 73 days 1,876 sqft
    2018-12-01 94 days 1,836 sqft
    2019-01-01 101 days 1,781 sqft
    2019-02-01 96 days 1,941 sqft
    2019-03-01 88 days 1,964 sqft
    2019-04-01 62 days 1,997 sqft
    2019-05-01 47 days 1,830 sqft
    2019-06-01 42 days 1,904 sqft
    2019-07-01 52 days 1,880 sqft
    2019-08-01 66 days 1,836 sqft
    2019-09-01 69 days 1,808 sqft
    2019-10-01 61 days 1,769 sqft
    2019-11-01 66 days 1,745 sqft
    2019-12-01 83 days 1,716 sqft
    2020-01-01 95 days 1,722 sqft
    2020-02-01 103 days 1,796 sqft
    2020-03-01 60 days 1,905 sqft
    2020-04-01 54 days 1,900 sqft
    2020-05-01 53 days 1,965 sqft
    2020-06-01 62 days 2,063 sqft
    2020-07-01 70 days 2,004 sqft
    2020-08-01 51 days 2,034 sqft
    2020-09-01 38 days 1,925 sqft
    2020-10-01 45 days 1,891 sqft
    2020-11-01 50 days 1,785 sqft
    2020-12-01 67 days 1,785 sqft
    2021-01-01 79 days 1,800 sqft
    2021-02-01 63 days 1,854 sqft
    2021-03-01 35 days 1,800 sqft
    2021-04-01 28 days 1,803 sqft
    2021-05-01 21 days 1,668 sqft
    2021-06-01 30 days 1,679 sqft
    2021-07-01 30 days 1,707 sqft
    2021-08-01 34 days 1,909 sqft
    2021-09-01 40 days 1,849 sqft
    2021-10-01 45 days 1,685 sqft
    2021-11-01 59 days 1,692 sqft
    2021-12-01 59 days 1,735 sqft
    2022-01-01 66 days 1,628 sqft
    2022-02-01 65 days 1,672 sqft
    2022-03-01 40 days 1,732 sqft
    2022-04-01 24 days 1,825 sqft
    2022-05-01 23 days 2,047 sqft
    2022-06-01 28 days 2,084 sqft
    2022-07-01 31 days 1,952 sqft
    2022-08-01 43 days 2,136 sqft
    2022-09-01 53 days 2,098 sqft
    2022-10-01 50 days 2,047 sqft
    2022-11-01 49 days 1,994 sqft
    2022-12-01 70 days 2,000 sqft
    2023-01-01 79 days 1,970 sqft
    2023-02-01 79 days 1,834 sqft
    2023-03-01 60 days 1,840 sqft
    2023-04-01 38 days 1,893 sqft
    Eau Claire's median listing age (time on market) for 2023-04-01 was 38 days. This is 56% longer than the same period one year ago.

    Eau Claire's median square footage for active listings during the 2023-04-01 period was 1,893 sqft. One year prior, the average listing was 1,825 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.