Freeport VA Loan Rates, Closing Costs & Stats

Freeport, IL

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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.

    Freeport's 12 lenders originated 28 VA loans during 2023. The total origination value was $5,200,000, with an average VA loan value of $185,714.

    Freeport VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Freeport averaged 6.78% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Freeport's average VA mortgage closing costs are $4,514.

    The average rate for the prior week (2024-04-12) was 6.71% and one month ago for the week of 2024-03-15, the average rate was 6.47%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Freeport 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 Freeport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 12 7.02% $4,088
    QUICKEN LOANS, LLC 4 6.15% $8,573
    USAA Federal Savings Bank 2 6.63% $5,187
    JPMorgan Chase Bank 1 5.99% $7,136
    LOANDEPOT.COM, LLC 1 6.25% $9,150
    Mid-Continent Funding, Inc. 1 6.75% $6,739
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $13,895
    UNITED WHOLESALE MORTGAGE, LLC 1 6.44% $348
    Blackhawk Bank 1 6.88% $13,487
    Wells Fargo Bank 1 5.38% $7,314
    CALIBER HOME LOANS, INC. 1 7.25% $3,878
    GUILD MORTGAGE COMPANY 1 7.13% $9,182

    The top Freeport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $4,088, which is $4,485 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Freeport VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,088), .

    The lowest rate Freeport VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.02%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Freeport (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 $79,950 (-5.8%) $99,850 (-10.1%) 0.00 209
    2018-02-01 $81,200 (-4.4%) $102,479 (-10.3%) 0.00 207
    2018-03-01 $87,150 (-3.1%) $108,560 (-12.7%) 0.00 203
    2018-04-01 $89,950 (-3.2%) $115,711 (-13.1%) 0.00 219
    2018-05-01 $91,375 (-8.1%) $120,513 (-12.2%) 0.00 234
    2018-06-01 $91,000 (-6.3%) $127,794 (-1.8%) 0.00 229
    2018-07-01 $91,950 (2.3%) $129,269 (0.0%) 0.00 224
    2018-08-01 $84,975 (-5.5%) $125,905 (-2.1%) 0.00 219
    2018-09-01 $85,900 (-4.5%) $124,022 (-2.0%) 0.00 206
    2018-10-01 $89,900 (1.9%) $131,047 (11.8%) 0.00 188
    2018-11-01 $89,900 (5.9%) $135,685 (18.3%) 0.00 183
    2018-12-01 $89,900 (7.1%) $123,162 (14.8%) 0.00 175
    2019-01-01 $89,700 (12.2%) $122,297 (22.5%) 0.00 172
    2019-02-01 $93,900 (15.6%) $124,206 (21.2%) 0.00 170
    2019-03-01 $96,671 (10.9%) $127,232 (17.2%) 0.00 173
    2019-04-01 $99,400 (10.5%) $131,998 (14.1%) 0.00 177
    2019-05-01 $99,900 (9.3%) $138,259 (14.7%) 0.00 180
    2019-06-01 $104,500 (14.8%) $142,608 (11.6%) 0.00 183
    2019-07-01 $107,400 (16.8%) $142,015 (9.9%) 0.00 208
    2019-08-01 $111,109 (30.8%) $141,660 (12.5%) 0.00 213
    2019-09-01 $106,210 (23.6%) $139,176 (12.2%) 0.00 216
    2019-10-01 $102,400 (13.9%) $135,334 (3.3%) 0.00 217
    2019-11-01 $99,900 (11.1%) $128,056 (-5.6%) 0.00 212
    2019-12-01 $90,000 (0.1%) $123,317 (0.1%) 0.00 196
    2020-01-01 $90,450 (0.8%) $126,109 (3.1%) 0.00 175
    2020-02-01 $89,900 (-4.3%) $128,784 (3.7%) 0.00 166
    2020-03-01 $95,150 (-1.6%) $132,519 (4.2%) 0.00 154
    2020-04-01 $108,650 (9.3%) $140,219 (6.2%) 0.00 156
    2020-05-01 $119,900 (20.0%) $162,716 (17.7%) 0.00 132
    2020-06-01 $117,400 (12.3%) $159,194 (11.6%) 0.00 129
    2020-07-01 $115,925 (7.9%) $165,504 (16.5%) 0.00 126
    2020-08-01 $109,900 (-1.1%) $160,518 (13.3%) 0.00 110
    2020-09-01 $101,750 (-4.2%) $149,410 (7.4%) 0.00 106
    2020-10-01 $107,900 (5.4%) $164,525 (21.6%) 0.00 100
    2020-11-01 $101,750 (1.9%) $157,592 (23.1%) 0.00 97
    2020-12-01 $101,400 (12.7%) $158,959 (28.9%) 0.00 99
    2021-01-01 $87,500 (-3.3%) $155,110 (23.0%) 0.00 93
    2021-02-01 $83,600 (-7.0%) $159,942 (24.2%) 0.00 81
    2021-03-01 $82,625 (-13.2%) $156,828 (18.3%) 0.00 71
    2021-04-01 $108,308 (-0.3%) $166,932 (19.1%) 0.00 56
    2021-05-01 $129,900 (8.3%) $184,733 (13.5%) 0.00 50
    2021-06-01 $108,000 (-8.0%) $159,543 (0.2%) 0.00 49
    2021-07-01 $90,000 (-22.4%) $155,608 (-6.0%) 0.00 88
    2021-08-01 $125,000 (13.7%) $168,055 (4.7%) 0.00 98
    2021-09-01 $138,175 (35.8%) $189,221 (26.7%) 0.00 109
    2021-10-01 $144,900 (34.3%) $191,381 (16.3%) 0.00 125
    2021-11-01 $126,225 (24.1%) $175,239 (11.2%) 0.00 135
    2021-12-01 $128,450 (26.7%) $179,464 (12.9%) 0.00 117
    2022-01-01 $99,900 (14.2%) $144,579 (-6.8%) 0.00 103
    2022-02-01 $106,225 (27.1%) $146,648 (-8.3%) 0.00 87
    2022-03-01 $118,400 (43.3%) $161,352 (2.9%) 0.00 68
    2022-04-01 $131,400 (21.3%) $171,033 (2.5%) 0.00 70
    2022-05-01 $148,750 (14.5%) $197,889 (7.1%) 0.00 72
    2022-06-01 $159,900 (48.1%) $204,148 (28.0%) 0.00 69
    2022-07-01 $129,450 (43.8%) $187,982 (20.8%) 0.00 76
    2022-08-01 $152,725 (22.2%) $202,476 (20.5%) 0.00 82
    2022-09-01 $129,950 (-6.0%) $189,440 (0.1%) 0.00 83
    2022-10-01 $113,000 (-22.0%) $166,765 (-12.9%) 0.00 91
    2022-11-01 $128,900 (2.1%) $163,789 (-6.5%) 0.00 98
    2022-12-01 $128,400 (0.0%) $156,207 (-13.0%) 0.00 95
    2023-01-01 $114,225 (14.3%) $142,878 (-1.2%) 0.00 80
    2023-02-01 $77,225 (-27.3%) $129,505 (-11.7%) 0.00 95
    2023-03-01 $75,000 (-36.7%) $124,148 (-23.1%) 0.00 91
    2023-04-01 $75,000 (-42.9%) $136,004 (-20.5%) 0.00 87
    2023-05-01 $95,225 (-36.0%) $175,800 (-11.2%) 0.00 57
    2023-06-01 $130,650 (-18.3%) $180,076 (-11.8%) 0.00 65
    2023-07-01 $127,450 (-1.5%) $185,821 (-1.2%) 0.00 72
    2023-08-01 $110,675 (-27.5%) $173,591 (-14.3%) 0.00 84
    2023-09-01 $119,950 (-7.7%) $178,343 (-5.9%) 0.00 86
    2023-10-01 $144,900 (28.2%) $192,100 (15.2%) 0.00 90
    2023-11-01 $134,950 (4.7%) $187,246 (14.3%) 0.00 97
    2023-12-01 $125,000 (-2.7%) $174,691 (11.8%) 0.00 99
    2024-01-01 $126,600 (10.8%) $183,249 (28.3%) 0.00 92
    2024-02-01 $128,650 (66.6%) $184,826 (42.7%) 0.00 84
    2024-03-01 $149,950 (99.9%) $201,480 (62.3%) 0.00 82
    Freeport's median listing price for 2024-03-01 was $149,950, a difference of $74,950 (99.9%) versus the prior year and $21,300 versus the prior month.

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

    Freeport's average listing price for 2024-03-01 was $201,480, a difference of $77,332 (62.3%) versus the prior year and $16,654 versus the prior month.

    For the 2024-03-01 period, Freeport had 82 MLS listings, a difference of -2 listings (-2%) versus the prior month and -9 listings (-10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Freeport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,559 sqft
    2018-02-01 0 days 1,554 sqft
    2018-03-01 0 days 1,584 sqft
    2018-04-01 0 days 1,588 sqft
    2018-05-01 0 days 1,595 sqft
    2018-06-01 0 days 1,650 sqft
    2018-07-01 0 days 1,655 sqft
    2018-08-01 0 days 1,625 sqft
    2018-09-01 0 days 1,624 sqft
    2018-10-01 0 days 1,665 sqft
    2018-11-01 0 days 1,689 sqft
    2018-12-01 0 days 1,644 sqft
    2019-01-01 0 days 1,628 sqft
    2019-02-01 0 days 1,662 sqft
    2019-03-01 0 days 1,653 sqft
    2019-04-01 0 days 1,644 sqft
    2019-05-01 0 days 1,573 sqft
    2019-06-01 0 days 1,664 sqft
    2019-07-01 0 days 1,765 sqft
    2019-08-01 0 days 1,784 sqft
    2019-09-01 0 days 1,761 sqft
    2019-10-01 0 days 1,754 sqft
    2019-11-01 0 days 1,758 sqft
    2019-12-01 0 days 1,678 sqft
    2020-01-01 0 days 1,697 sqft
    2020-02-01 0 days 1,673 sqft
    2020-03-01 0 days 1,746 sqft
    2020-04-01 0 days 1,818 sqft
    2020-05-01 0 days 1,827 sqft
    2020-06-01 0 days 1,791 sqft
    2020-07-01 0 days 1,693 sqft
    2020-08-01 0 days 1,597 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,640 sqft
    2020-11-01 0 days 1,633 sqft
    2020-12-01 0 days 1,650 sqft
    2021-01-01 0 days 1,628 sqft
    2021-02-01 0 days 1,598 sqft
    2021-03-01 0 days 1,581 sqft
    2021-04-01 0 days 1,674 sqft
    2021-05-01 0 days 1,743 sqft
    2021-06-01 0 days 1,533 sqft
    2021-07-01 0 days 1,680 sqft
    2021-08-01 0 days 1,748 sqft
    2021-09-01 0 days 1,877 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,788 sqft
    2021-12-01 0 days 1,812 sqft
    2022-01-01 0 days 1,608 sqft
    2022-02-01 0 days 1,650 sqft
    2022-03-01 0 days 1,782 sqft
    2022-04-01 0 days 1,783 sqft
    2022-05-01 0 days 1,823 sqft
    2022-06-01 0 days 1,846 sqft
    2022-07-01 0 days 1,770 sqft
    2022-08-01 0 days 1,952 sqft
    2022-09-01 0 days 1,815 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 1,667 sqft
    2022-12-01 0 days 1,684 sqft
    2023-01-01 0 days 1,593 sqft
    2023-02-01 0 days 1,516 sqft
    2023-03-01 0 days 1,445 sqft
    2023-04-01 0 days 1,456 sqft
    2023-05-01 0 days 1,559 sqft
    2023-06-01 0 days 1,645 sqft
    2023-07-01 0 days 1,613 sqft
    2023-08-01 0 days 1,620 sqft
    2023-09-01 0 days 1,704 sqft
    2023-10-01 0 days 1,706 sqft
    2023-11-01 0 days 1,680 sqft
    2023-12-01 0 days 1,734 sqft
    2024-01-01 0 days 1,672 sqft
    2024-02-01 0 days 1,675 sqft
    2024-03-01 0 days 1,664 sqft
    Freeport's median listing age (time on market) for 2024-03-01 was 0 days.

    Freeport's median square footage for active listings during the 2024-03-01 period was 1,664 sqft. One year prior, the average listing was 1,445 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.