Evanston VA Loan Rates, Closing Costs & Stats

Evanston, WY

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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.

    Evanston's 9 lenders originated 21 VA loans during 2023. The total origination value was $6,545,000, with an average VA loan value of $311,667.

    Evanston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Evanston averaged 6.72% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Evanston's average VA mortgage closing costs are $5,225.

    The average rate for the prior week (2025-02-07) was 6.35% and one month ago for the week of 2025-01-10, the average rate was 6.59%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.23%.

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

    Evanston 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 Evanston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 6.33% $4,171
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.62% $4,987
    Mortgage Research Center, LLC 4 6.97% $11,058
    CRESCENT MORTGAGE COMPANY 2 6.19% $7,477
    Barrington Bank & Trust Company, N.A. 1 7.25% $20,678
    Wells Fargo Bank 1 5.63% $0
    Nations Lending Corporation 1 6.75% $18,383
    PENNYMAC LOAN SERVICES, LLC 1 6.88% $3,896
    U.S. Bank 1 6.75% $4,200

    The top Evanston VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 VA loans originated. Their average total fees are $4,171, which is $816 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Evanston VA lenders (with over 10 loans originated) are .

    The lowest rate Evanston VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Evanston (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 $209,900 (10.5%) $250,118 (-0.1%) 0.00 129
    2018-02-01 $199,450 (2.7%) $249,070 (-4.0%) 0.00 126
    2018-03-01 $212,400 (3.9%) $260,853 (-1.4%) 0.00 124
    2018-04-01 $223,650 (-4.8%) $278,161 (6.2%) 0.00 137
    2018-05-01 $242,000 (0.5%) $293,676 (4.9%) 0.00 145
    2018-06-01 $246,750 (5.9%) $294,447 (8.9%) 0.00 154
    2018-07-01 $249,900 (10.1%) $299,368 (9.0%) 0.00 171
    2018-08-01 $236,475 (7.5%) $291,541 (6.2%) 0.00 163
    2018-09-01 $230,000 (2.3%) $285,902 (3.6%) 0.00 158
    2018-10-01 $252,975 (9.9%) $288,622 (4.6%) 0.00 170
    2018-11-01 $259,900 (33.6%) $298,924 (12.3%) 0.00 157
    2018-12-01 $259,000 (36.4%) $296,814 (20.9%) 0.00 140
    2019-01-01 $249,900 (19.1%) $300,897 (20.3%) 0.00 124
    2019-02-01 $249,900 (25.3%) $306,209 (22.9%) 0.00 123
    2019-03-01 $254,214 (19.7%) $319,374 (22.4%) 0.00 126
    2019-04-01 $259,900 (16.2%) $340,201 (22.3%) 0.00 133
    2019-05-01 $259,450 (7.2%) $340,404 (15.9%) 0.00 138
    2019-06-01 $262,450 (6.4%) $360,649 (22.5%) 0.00 151
    2019-07-01 $264,900 (6.0%) $369,722 (23.5%) 0.00 172
    2019-08-01 $272,627 (15.3%) $376,216 (29.0%) 0.00 169
    2019-09-01 $276,718 (20.3%) $381,334 (33.4%) 0.00 162
    2019-10-01 $284,900 (12.6%) $381,475 (32.2%) 0.00 152
    2019-11-01 $289,900 (11.5%) $369,421 (23.6%) 0.00 131
    2019-12-01 $279,900 (8.1%) $358,527 (20.8%) 0.00 122
    2020-01-01 $276,925 (10.8%) $359,675 (19.5%) 0.00 112
    2020-02-01 $279,900 (12.0%) $366,952 (19.8%) 0.00 108
    2020-03-01 $292,450 (15.0%) $382,453 (19.8%) 0.00 104
    2020-04-01 $299,600 (15.3%) $377,661 (11.0%) 0.00 122
    2020-05-01 $299,200 (15.3%) $372,751 (9.5%) 0.00 130
    2020-06-01 $299,500 (14.1%) $366,803 (1.7%) 0.00 119
    2020-07-01 $281,150 (6.1%) $354,151 (-4.2%) 0.00 102
    2020-08-01 $307,450 (12.8%) $370,032 (-1.6%) 0.00 73
    2020-09-01 $344,000 (24.3%) $446,105 (17.0%) 0.00 59
    2020-10-01 $312,450 (9.7%) $516,633 (35.4%) 0.00 53
    2020-11-01 $299,225 (3.2%) $502,274 (36.0%) 0.00 50
    2020-12-01 $285,500 (2.0%) $500,382 (39.6%) 0.00 44
    2021-01-01 $297,450 (7.4%) $496,673 (38.1%) 0.00 39
    2021-02-01 $338,900 (21.1%) $506,538 (38.0%) 0.00 47
    2021-03-01 $328,400 (12.3%) $550,090 (43.8%) 0.00 44
    2021-04-01 $309,725 (3.4%) $450,627 (19.3%) 0.00 48
    2021-05-01 $359,900 (20.3%) $503,628 (35.1%) 0.00 57
    2021-06-01 $386,000 (28.9%) $546,847 (49.1%) 0.00 76
    2021-07-01 $369,900 (31.6%) $640,004 (80.7%) 0.00 80
    2021-08-01 $389,750 (26.8%) $676,423 (82.8%) 0.00 85
    2021-09-01 $395,950 (15.1%) $695,792 (56.0%) 0.00 78
    2021-10-01 $399,900 (28.0%) $731,157 (41.5%) 0.00 66
    2021-11-01 $447,450 (49.5%) $711,378 (41.6%) 0.00 61
    2021-12-01 $482,175 (68.9%) $757,462 (51.4%) 0.00 50
    2022-01-01 $539,900 (81.5%) $882,263 (77.6%) 0.00 34
    2022-02-01 $627,450 (85.1%) $856,870 (69.2%) 0.00 47
    2022-03-01 $669,700 (103.9%) $831,999 (51.3%) 0.00 55
    2022-04-01 $732,000 (136.3%) $860,195 (90.9%) 0.00 67
    2022-05-01 $686,000 (90.6%) $756,790 (50.3%) 0.00 86
    2022-06-01 $649,900 (68.4%) $710,245 (29.9%) 0.00 119
    2022-07-01 $575,000 (55.5%) $697,806 (9.0%) 0.00 134
    2022-08-01 $506,250 (29.9%) $645,356 (-4.6%) 0.00 128
    2022-09-01 $575,000 (45.2%) $668,369 (-3.9%) 0.00 136
    2022-10-01 $517,500 (29.4%) $627,024 (-14.2%) 0.00 131
    2022-11-01 $498,488 (11.4%) $614,211 (-13.7%) 0.00 120
    2022-12-01 $499,900 (3.7%) $618,486 (-18.4%) 0.00 105
    2023-01-01 $507,225 (-6.1%) $601,571 (-31.8%) 0.00 99
    2023-02-01 $494,651 (-21.2%) $587,962 (-31.4%) 0.00 92
    2023-03-01 $532,000 (-20.6%) $594,876 (-28.5%) 0.00 85
    2023-04-01 $539,450 (-26.3%) $686,719 (-20.2%) 0.00 97
    2023-05-01 $595,500 (-13.2%) $700,688 (-7.4%) 0.00 111
    2023-06-01 $550,000 (-15.4%) $712,086 (0.3%) 0.00 129
    2023-07-01 $545,000 (-5.2%) $700,756 (0.4%) 0.00 151
    2023-08-01 $546,750 (8.0%) $703,886 (9.1%) 0.00 158
    2023-09-01 $520,000 (-9.6%) $696,488 (4.2%) 0.00 154
    2023-10-01 $527,000 (1.8%) $684,832 (9.2%) 0.00 160
    2023-11-01 $528,000 (5.9%) $716,830 (16.7%) 0.00 160
    2023-12-01 $540,000 (8.0%) $736,509 (19.1%) 0.00 136
    2024-01-01 $535,565 (5.6%) $769,068 (27.8%) 0.00 102
    2024-02-01 $554,650 (12.1%) $760,846 (29.4%) 0.00 98
    2024-03-01 $573,050 (7.7%) $729,428 (22.6%) 0.00 106
    2024-04-01 $579,000 (7.3%) $714,068 (4.0%) 0.00 122
    2024-05-01 $599,925 (0.7%) $717,662 (2.4%) 0.00 135
    2024-06-01 $629,900 (14.5%) $716,281 (0.6%) 0.00 153
    2024-07-01 $631,400 (15.9%) $749,580 (7.0%) 0.00 159
    2024-08-01 $635,700 (16.3%) $788,841 (12.1%) 0.00 172
    2024-09-01 $612,225 (17.7%) $775,301 (11.3%) 0.00 178
    2024-10-01 $624,450 (18.5%) $772,717 (12.8%) 0.00 168
    2024-11-01 $624,450 (18.3%) $778,036 (8.5%) 0.00 162
    2024-12-01 $639,450 (18.4%) $780,754 (6.0%) 0.00 148
    2025-01-01 $637,400 (19.0%) $797,216 (3.7%) 0.00 129
    Evanston's median listing price for 2025-01-01 was $637,400, a difference of $101,835 (19.0%) versus the prior year and $-2,050 versus the prior month.

    Evanston's median listing price comes in at 0% of the national average.

    Evanston's average listing price for 2025-01-01 was $797,216, a difference of $28,148 (3.7%) versus the prior year and $16,462 versus the prior month.

    For the 2025-01-01 period, Evanston had 129 MLS listings, a difference of -19 listings (-13%) versus the prior month and 27 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Evanston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,016 sqft
    2018-02-01 0 days 1,943 sqft
    2018-03-01 0 days 2,112 sqft
    2018-04-01 0 days 2,200 sqft
    2018-05-01 0 days 2,200 sqft
    2018-06-01 0 days 2,114 sqft
    2018-07-01 0 days 2,119 sqft
    2018-08-01 0 days 2,122 sqft
    2018-09-01 0 days 2,150 sqft
    2018-10-01 0 days 2,054 sqft
    2018-11-01 0 days 2,060 sqft
    2018-12-01 0 days 2,080 sqft
    2019-01-01 0 days 2,079 sqft
    2019-02-01 0 days 2,078 sqft
    2019-03-01 0 days 2,120 sqft
    2019-04-01 0 days 2,170 sqft
    2019-05-01 0 days 2,146 sqft
    2019-06-01 0 days 2,144 sqft
    2019-07-01 0 days 2,178 sqft
    2019-08-01 0 days 2,123 sqft
    2019-09-01 0 days 2,115 sqft
    2019-10-01 0 days 2,176 sqft
    2019-11-01 0 days 2,212 sqft
    2019-12-01 0 days 2,106 sqft
    2020-01-01 0 days 2,084 sqft
    2020-02-01 0 days 2,112 sqft
    2020-03-01 0 days 2,223 sqft
    2020-04-01 0 days 2,354 sqft
    2020-05-01 0 days 2,302 sqft
    2020-06-01 0 days 2,364 sqft
    2020-07-01 0 days 2,407 sqft
    2020-08-01 0 days 2,416 sqft
    2020-09-01 0 days 2,493 sqft
    2020-10-01 0 days 2,401 sqft
    2020-11-01 0 days 1,982 sqft
    2020-12-01 0 days 1,885 sqft
    2021-01-01 0 days 1,984 sqft
    2021-02-01 0 days 2,083 sqft
    2021-03-01 0 days 2,154 sqft
    2021-04-01 0 days 2,132 sqft
    2021-05-01 0 days 2,361 sqft
    2021-06-01 0 days 2,402 sqft
    2021-07-01 0 days 2,381 sqft
    2021-08-01 0 days 2,290 sqft
    2021-09-01 0 days 2,241 sqft
    2021-10-01 0 days 2,202 sqft
    2021-11-01 0 days 2,226 sqft
    2021-12-01 0 days 2,264 sqft
    2022-01-01 0 days 2,532 sqft
    2022-02-01 0 days 2,314 sqft
    2022-03-01 0 days 2,507 sqft
    2022-04-01 0 days 2,495 sqft
    2022-05-01 0 days 2,464 sqft
    2022-06-01 0 days 2,528 sqft
    2022-07-01 0 days 2,495 sqft
    2022-08-01 0 days 2,439 sqft
    2022-09-01 0 days 2,428 sqft
    2022-10-01 0 days 2,348 sqft
    2022-11-01 0 days 2,400 sqft
    2022-12-01 0 days 2,336 sqft
    2023-01-01 0 days 2,178 sqft
    2023-02-01 0 days 2,195 sqft
    2023-03-01 0 days 2,367 sqft
    2023-04-01 0 days 2,424 sqft
    2023-05-01 0 days 2,519 sqft
    2023-06-01 0 days 2,479 sqft
    2023-07-01 0 days 2,168 sqft
    2023-08-01 0 days 2,075 sqft
    2023-09-01 0 days 2,075 sqft
    2023-10-01 0 days 2,054 sqft
    2023-11-01 0 days 2,074 sqft
    2023-12-01 0 days 2,038 sqft
    2024-01-01 0 days 2,184 sqft
    2024-02-01 0 days 2,399 sqft
    2024-03-01 0 days 2,386 sqft
    2024-04-01 0 days 2,128 sqft
    2024-05-01 0 days 2,169 sqft
    2024-06-01 0 days 2,201 sqft
    2024-07-01 0 days 2,393 sqft
    2024-08-01 0 days 2,393 sqft
    2024-09-01 0 days 2,479 sqft
    2024-10-01 0 days 2,465 sqft
    2024-11-01 0 days 2,415 sqft
    2024-12-01 0 days 2,448 sqft
    2025-01-01 0 days 2,448 sqft
    Evanston's median listing age (time on market) for 2025-01-01 was 0 days.

    Evanston's median square footage for active listings during the 2025-01-01 period was 2,448 sqft. One year prior, the average listing was 2,184 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.