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 5.97% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.3% and one month ago for the week of 2024-11-08, the average rate was 6.2%.

    The average rate one year ago was 6.45%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.98%.

    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 $188,225 (14.1%) $226,206 (15.9%) 0.00 82
    2018-02-01 $185,000 (9.0%) $221,444 (12.8%) 0.00 83
    2018-03-01 $187,000 (10.1%) $223,284 (11.4%) 0.00 83
    2018-04-01 $189,925 (11.8%) $236,147 (13.4%) 0.00 91
    2018-05-01 $194,900 (7.6%) $241,713 (10.9%) 0.00 94
    2018-06-01 $199,900 (5.7%) $234,736 (7.6%) 0.00 92
    2018-07-01 $199,225 (8.3%) $231,529 (5.3%) 0.00 95
    2018-08-01 $196,475 (9.5%) $224,168 (6.7%) 0.00 87
    2018-09-01 $187,450 (4.7%) $216,406 (-0.3%) 0.00 81
    2018-10-01 $197,425 (16.3%) $227,282 (5.6%) 0.00 85
    2018-11-01 $212,450 (28.0%) $229,284 (8.6%) 0.00 79
    2018-12-01 $204,750 (20.5%) $227,258 (8.8%) 0.00 79
    2019-01-01 $211,225 (12.2%) $221,380 (-2.1%) 0.00 75
    2019-02-01 $197,200 (6.6%) $217,138 (-1.9%) 0.00 71
    2019-03-01 $198,957 (6.4%) $221,284 (-0.9%) 0.00 69
    2019-04-01 $201,657 (6.2%) $227,272 (-3.8%) 0.00 72
    2019-05-01 $190,700 (-2.2%) $223,098 (-7.7%) 0.00 74
    2019-06-01 $189,900 (-5.0%) $254,792 (8.5%) 0.00 81
    2019-07-01 $189,900 (-4.7%) $240,267 (3.8%) 0.00 91
    2019-08-01 $192,300 (-2.1%) $239,858 (7.0%) 0.00 79
    2019-09-01 $196,575 (4.9%) $246,413 (13.9%) 0.00 70
    2019-10-01 $204,950 (3.8%) $258,369 (13.7%) 0.00 64
    2019-11-01 $205,000 (-3.5%) $268,580 (17.1%) 0.00 57
    2019-12-01 $197,500 (-3.5%) $269,540 (18.6%) 0.00 55
    2020-01-01 $195,000 (-7.7%) $274,252 (23.9%) 0.00 51
    2020-02-01 $219,000 (11.1%) $275,023 (26.7%) 0.00 49
    2020-03-01 $198,875 (0.0%) $280,559 (26.8%) 0.00 45
    2020-04-01 $229,450 (13.8%) $290,141 (27.7%) 0.00 51
    2020-05-01 $220,000 (15.4%) $276,935 (24.1%) 0.00 60
    2020-06-01 $217,475 (14.5%) $267,186 (4.9%) 0.00 67
    2020-07-01 $219,950 (15.8%) $243,619 (1.4%) 0.00 61
    2020-08-01 $215,000 (11.8%) $243,994 (1.7%) 0.00 42
    2020-09-01 $229,975 (17.0%) $249,001 (1.1%) 0.00 31
    2020-10-01 $205,000 (0.0%) $235,926 (-8.7%) 0.00 26
    2020-11-01 $207,500 (1.2%) $217,325 (-19.1%) 0.00 30
    2020-12-01 $213,750 (8.2%) $235,264 (-12.7%) 0.00 28
    2021-01-01 $220,000 (12.8%) $247,842 (-9.6%) 0.00 25
    2021-02-01 $225,950 (3.2%) $260,548 (-5.3%) 0.00 28
    2021-03-01 $255,475 (28.5%) $357,850 (27.6%) 0.00 28
    2021-04-01 $254,000 (10.7%) $354,602 (22.2%) 0.00 34
    2021-05-01 $284,500 (29.3%) $381,744 (37.9%) 0.00 34
    2021-06-01 $281,950 (29.7%) $391,872 (46.7%) 0.00 44
    2021-07-01 $314,500 (43.0%) $359,579 (47.6%) 0.00 50
    2021-08-01 $304,500 (41.6%) $369,068 (51.3%) 0.00 54
    2021-09-01 $282,800 (23.0%) $376,991 (51.4%) 0.00 45
    2021-10-01 $274,950 (34.1%) $390,961 (65.7%) 0.00 37
    2021-11-01 $261,738 (26.1%) $392,588 (80.7%) 0.00 34
    2021-12-01 $248,000 (16.0%) $391,597 (66.5%) 0.00 29
    2022-01-01 $269,000 (22.3%) $384,105 (55.0%) 0.00 18
    2022-02-01 $329,125 (45.7%) $457,487 (75.6%) 0.00 23
    2022-03-01 $399,925 (56.5%) $499,236 (39.5%) 0.00 26
    2022-04-01 $454,900 (79.1%) $534,702 (50.8%) 0.00 24
    2022-05-01 $450,000 (58.2%) $494,288 (29.5%) 0.00 39
    2022-06-01 $407,973 (44.7%) $474,521 (21.1%) 0.00 48
    2022-07-01 $409,500 (30.2%) $467,289 (30.0%) 0.00 51
    2022-08-01 $388,225 (27.5%) $449,845 (21.9%) 0.00 51
    2022-09-01 $372,475 (31.7%) $436,666 (15.8%) 0.00 53
    2022-10-01 $375,000 (36.4%) $421,812 (7.9%) 0.00 46
    2022-11-01 $389,050 (48.6%) $428,414 (9.1%) 0.00 45
    2022-12-01 $389,900 (57.2%) $405,709 (3.6%) 0.00 39
    2023-01-01 $354,656 (31.8%) $381,552 (-0.7%) 0.00 40
    2023-02-01 $349,975 (6.3%) $379,063 (-17.1%) 0.00 39
    2023-03-01 $353,750 (-11.6%) $381,279 (-23.6%) 0.00 32
    2023-04-01 $395,000 (-13.2%) $439,130 (-17.9%) 0.00 36
    2023-05-01 $397,225 (-11.7%) $456,351 (-7.7%) 0.00 39
    2023-06-01 $407,879 (0.0%) $463,386 (-2.4%) 0.00 43
    2023-07-01 $383,500 (-6.4%) $450,367 (-3.6%) 0.00 50
    2023-08-01 $379,000 (-2.4%) $495,762 (10.2%) 0.00 49
    2023-09-01 $359,950 (-3.4%) $470,198 (7.7%) 0.00 49
    2023-10-01 $332,475 (-11.3%) $466,018 (10.5%) 0.00 50
    2023-11-01 $343,225 (-11.8%) $454,104 (6.0%) 0.00 51
    2023-12-01 $359,500 (-7.8%) $491,288 (21.1%) 0.00 42
    2024-01-01 $358,450 (1.1%) $506,792 (32.8%) 0.00 37
    2024-02-01 $367,200 (4.9%) $565,279 (49.1%) 0.00 34
    2024-03-01 $355,000 (0.4%) $552,078 (44.8%) 0.00 38
    2024-04-01 $359,750 (-8.9%) $564,504 (28.6%) 0.00 37
    2024-05-01 $380,000 (-4.3%) $583,579 (27.9%) 0.00 42
    2024-06-01 $435,000 (6.7%) $592,983 (28.0%) 0.00 39
    2024-07-01 $444,000 (15.8%) $604,647 (34.3%) 0.00 39
    2024-08-01 $454,900 (20.0%) $536,111 (8.1%) 0.00 43
    2024-09-01 $414,475 (15.2%) $512,093 (8.9%) 0.00 48
    2024-10-01 $401,749 (20.8%) $493,638 (5.9%) 0.00 43
    2024-11-01 $399,999 (16.5%) $468,526 (3.2%) 0.00 44
    Evanston's median listing price for 2024-11-01 was $399,999, a difference of $56,774 (16.5%) versus the prior year and $-1,750 versus the prior month.

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

    Evanston's average listing price for 2024-11-01 was $468,526, a difference of $14,422 (3.2%) versus the prior year and $-25,112 versus the prior month.

    For the 2024-11-01 period, Evanston had 44 MLS listings, a difference of 1 listings (2%) versus the prior month and -7 listings (-14%) 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 1,899 sqft
    2018-02-01 0 days 1,878 sqft
    2018-03-01 0 days 1,950 sqft
    2018-04-01 0 days 2,056 sqft
    2018-05-01 0 days 2,059 sqft
    2018-06-01 0 days 2,043 sqft
    2018-07-01 0 days 2,078 sqft
    2018-08-01 0 days 2,099 sqft
    2018-09-01 0 days 2,114 sqft
    2018-10-01 0 days 2,064 sqft
    2018-11-01 0 days 2,121 sqft
    2018-12-01 0 days 2,080 sqft
    2019-01-01 0 days 2,079 sqft
    2019-02-01 0 days 2,048 sqft
    2019-03-01 0 days 2,000 sqft
    2019-04-01 0 days 2,064 sqft
    2019-05-01 0 days 2,030 sqft
    2019-06-01 0 days 1,810 sqft
    2019-07-01 0 days 1,872 sqft
    2019-08-01 0 days 1,862 sqft
    2019-09-01 0 days 1,848 sqft
    2019-10-01 0 days 1,870 sqft
    2019-11-01 0 days 1,886 sqft
    2019-12-01 0 days 1,900 sqft
    2020-01-01 0 days 1,857 sqft
    2020-02-01 0 days 1,842 sqft
    2020-03-01 0 days 1,842 sqft
    2020-04-01 0 days 2,085 sqft
    2020-05-01 0 days 1,876 sqft
    2020-06-01 0 days 2,004 sqft
    2020-07-01 0 days 2,039 sqft
    2020-08-01 0 days 1,728 sqft
    2020-09-01 0 days 1,855 sqft
    2020-10-01 0 days 1,854 sqft
    2020-11-01 0 days 1,743 sqft
    2020-12-01 0 days 1,767 sqft
    2021-01-01 0 days 1,747 sqft
    2021-02-01 0 days 1,754 sqft
    2021-03-01 0 days 1,854 sqft
    2021-04-01 0 days 1,938 sqft
    2021-05-01 0 days 1,976 sqft
    2021-06-01 0 days 2,278 sqft
    2021-07-01 0 days 2,219 sqft
    2021-08-01 0 days 2,215 sqft
    2021-09-01 0 days 2,117 sqft
    2021-10-01 0 days 2,087 sqft
    2021-11-01 0 days 2,101 sqft
    2021-12-01 0 days 1,972 sqft
    2022-01-01 0 days 2,087 sqft
    2022-02-01 0 days 2,098 sqft
    2022-03-01 0 days 2,440 sqft
    2022-04-01 0 days 2,495 sqft
    2022-05-01 0 days 2,392 sqft
    2022-06-01 0 days 2,286 sqft
    2022-07-01 0 days 2,224 sqft
    2022-08-01 0 days 2,235 sqft
    2022-09-01 0 days 2,237 sqft
    2022-10-01 0 days 2,204 sqft
    2022-11-01 0 days 2,221 sqft
    2022-12-01 0 days 2,133 sqft
    2023-01-01 0 days 2,112 sqft
    2023-02-01 0 days 2,112 sqft
    2023-03-01 0 days 2,142 sqft
    2023-04-01 0 days 2,201 sqft
    2023-05-01 0 days 2,358 sqft
    2023-06-01 0 days 2,372 sqft
    2023-07-01 0 days 2,101 sqft
    2023-08-01 0 days 2,000 sqft
    2023-09-01 0 days 2,039 sqft
    2023-10-01 0 days 1,953 sqft
    2023-11-01 0 days 1,991 sqft
    2023-12-01 0 days 1,944 sqft
    2024-01-01 0 days 1,933 sqft
    2024-02-01 0 days 2,008 sqft
    2024-03-01 0 days 2,183 sqft
    2024-04-01 0 days 2,140 sqft
    2024-05-01 0 days 2,249 sqft
    2024-06-01 0 days 2,249 sqft
    2024-07-01 0 days 2,383 sqft
    2024-08-01 0 days 2,203 sqft
    2024-09-01 0 days 2,482 sqft
    2024-10-01 0 days 2,425 sqft
    2024-11-01 0 days 2,093 sqft
    Evanston's median listing age (time on market) for 2024-11-01 was 0 days.

    Evanston's median square footage for active listings during the 2024-11-01 period was 2,093 sqft. One year prior, the average listing was 1,991 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.