Eau Claire VA Loans

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 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.