Galesburg VA Loan Rates, Closing Costs & Stats
Galesburg, IL
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.
Galesburg's 16 lenders originated 30 VA loans during 2023. The total origination value was $4,580,000, with an average VA loan value of $152,667.
Galesburg VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Galesburg
averaged
7.25%
for the week of 2024-04-26, compared to the national average (all VA variants) of
6.757% for the same period.
Galesburg's average VA mortgage closing costs are $3,874.
The average rate for the prior week (2024-04-19) was
6.95% and
one month ago for the week of 2024-03-22, the
average rate was 6.9%.
The average rate one year ago was 6.24%.
For refis of the same type during the week of 2024-04-26, the average rate
was 6.56%.
Galesburg 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 Galesburg level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 11 | 6.84% | $4,546 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 7.13% | $8,128 |
| GERSHMAN INVESTMENT CORP. | 2 | 6.69% | $5,294 |
| CRESCENT MORTGAGE COMPANY | 1 | 6.63% | $3,644 |
| FBC MORTGAGE, LLC | 1 | 7.25% | $3,422 |
| GUARANTEED RATE, INC. | 1 | 6.88% | $0 |
| INB | 1 | 5.38% | $1,681 |
| MORTGAGEONE, INC. | 1 | 7.75% | $240 |
| Mr. Cooper ( Nationstar Mortgage ) | 1 | 6.00% | $13,181 |
| PNC Bank | 1 | 7.75% | $2,303 |
| PREMIA MORTGAGE, LLC | 1 | 5.50% | $4,948 |
| QUICKEN LOANS, LLC | 1 | 6.49% | $13,880 |
| AMERISAVE MORTGAGE CORPORATION | 1 | 5.75% | $8,880 |
| USAA Federal Savings Bank | 1 | 5.75% | $6,949 |
| Barrington Bank & Trust Company, N.A. | 1 | 6.13% | $4,256 |
| Community Mortgage Banc Corporation | 1 | 7.25% | $0 |
The top Galesburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with
11 VA loans originated. Their average total fees are
$4,546, which is $3,582
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Galesburg VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,546), .
The lowest rate Galesburg VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC (6.84%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Galesburg (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 | $104,550 (1.3%) | $137,069 (0.8%) | 0.00 | 218 |
| 2018-02-01 | $99,375 (-4.8%) | $134,147 (-0.8%) | 0.00 | 216 |
| 2018-03-01 | $105,000 (-5.0%) | $144,971 (2.5%) | 0.00 | 232 |
| 2018-04-01 | $112,950 (-1.7%) | $151,595 (-2.6%) | 0.00 | 243 |
| 2018-05-01 | $109,800 (-10.7%) | $145,199 (-12.1%) | 0.00 | 261 |
| 2018-06-01 | $110,700 (-12.5%) | $151,052 (-9.9%) | 0.00 | 282 |
| 2018-07-01 | $111,375 (-10.2%) | $148,758 (-9.9%) | 0.00 | 308 |
| 2018-08-01 | $99,250 (-20.6%) | $138,257 (-18.2%) | 0.00 | 329 |
| 2018-09-01 | $97,400 (-22.5%) | $131,576 (-22.0%) | 0.00 | 324 |
| 2018-10-01 | $94,500 (-20.2%) | $130,682 (-19.7%) | 0.00 | 312 |
| 2018-11-01 | $94,975 (-14.3%) | $132,992 (-14.5%) | 0.00 | 278 |
| 2018-12-01 | $99,500 (-5.2%) | $130,497 (-6.8%) | 0.00 | 234 |
| 2019-01-01 | $103,725 (-0.8%) | $131,890 (-3.8%) | 0.00 | 224 |
| 2019-02-01 | $107,750 (8.4%) | $132,685 (-1.1%) | 0.00 | 214 |
| 2019-03-01 | $110,500 (5.2%) | $140,202 (-3.3%) | 0.00 | 198 |
| 2019-04-01 | $113,450 (0.4%) | $147,762 (-2.5%) | 0.00 | 187 |
| 2019-05-01 | $119,900 (9.2%) | $155,489 (7.1%) | 0.00 | 196 |
| 2019-06-01 | $112,900 (2.0%) | $152,152 (0.7%) | 0.00 | 214 |
| 2019-07-01 | $108,225 (-2.8%) | $155,451 (4.5%) | 0.00 | 220 |
| 2019-08-01 | $96,964 (-2.3%) | $155,664 (12.6%) | 0.00 | 224 |
| 2019-09-01 | $92,484 (-5.1%) | $157,573 (19.8%) | 0.00 | 233 |
| 2019-10-01 | $89,250 (-5.6%) | $158,846 (21.6%) | 0.00 | 238 |
| 2019-11-01 | $84,900 (-10.6%) | $151,056 (13.6%) | 0.00 | 241 |
| 2019-12-01 | $84,925 (-14.7%) | $151,227 (15.9%) | 0.00 | 221 |
| 2020-01-01 | $81,975 (-21.0%) | $147,254 (11.7%) | 0.00 | 197 |
| 2020-02-01 | $84,900 (-21.2%) | $151,073 (13.9%) | 0.00 | 178 |
| 2020-03-01 | $94,550 (-14.4%) | $159,932 (14.1%) | 0.00 | 182 |
| 2020-04-01 | $96,250 (-15.2%) | $138,955 (-6.0%) | 0.00 | 184 |
| 2020-05-01 | $101,900 (-15.0%) | $166,957 (7.4%) | 0.00 | 185 |
| 2020-06-01 | $104,225 (-7.7%) | $167,076 (9.8%) | 0.00 | 174 |
| 2020-07-01 | $109,450 (1.1%) | $171,686 (10.4%) | 0.00 | 167 |
| 2020-08-01 | $107,000 (10.4%) | $172,789 (11.0%) | 0.00 | 141 |
| 2020-09-01 | $96,950 (4.8%) | $165,100 (4.8%) | 0.00 | 131 |
| 2020-10-01 | $84,450 (-5.4%) | $160,105 (0.8%) | 0.00 | 122 |
| 2020-11-01 | $75,625 (-10.9%) | $141,649 (-6.2%) | 0.00 | 130 |
| 2020-12-01 | $75,875 (-10.7%) | $140,960 (-6.8%) | 0.00 | 107 |
| 2021-01-01 | $72,000 (-12.2%) | $113,415 (-23.0%) | 0.00 | 101 |
| 2021-02-01 | $79,900 (-5.9%) | $117,263 (-22.4%) | 0.00 | 97 |
| 2021-03-01 | $82,700 (-12.5%) | $130,077 (-18.7%) | 0.00 | 86 |
| 2021-04-01 | $87,900 (-8.7%) | $136,719 (-1.6%) | 0.00 | 71 |
| 2021-05-01 | $79,900 (-21.6%) | $133,530 (-20.0%) | 0.00 | 62 |
| 2021-06-01 | $95,900 (-8.0%) | $150,559 (-9.9%) | 0.00 | 71 |
| 2021-07-01 | $99,900 (-8.7%) | $158,490 (-7.7%) | 0.00 | 83 |
| 2021-08-01 | $117,450 (9.8%) | $157,351 (-8.9%) | 0.00 | 82 |
| 2021-09-01 | $129,950 (34.0%) | $177,226 (7.3%) | 0.00 | 94 |
| 2021-10-01 | $110,900 (31.3%) | $169,451 (5.8%) | 0.00 | 97 |
| 2021-11-01 | $102,200 (35.1%) | $146,232 (3.2%) | 0.00 | 104 |
| 2021-12-01 | $96,375 (27.0%) | $136,992 (-2.8%) | 0.00 | 100 |
| 2022-01-01 | $93,250 (29.5%) | $130,841 (15.4%) | 0.00 | 80 |
| 2022-02-01 | $100,425 (25.7%) | $145,894 (24.4%) | 0.00 | 58 |
| 2022-03-01 | $99,000 (19.7%) | $149,532 (15.0%) | 0.00 | 55 |
| 2022-04-01 | $102,500 (16.6%) | $162,160 (18.6%) | 0.00 | 72 |
| 2022-05-01 | $99,175 (24.1%) | $158,363 (18.6%) | 0.00 | 78 |
| 2022-06-01 | $93,950 (-2.0%) | $155,165 (3.1%) | 0.00 | 67 |
| 2022-07-01 | $96,200 (-3.7%) | $160,344 (1.2%) | 0.00 | 73 |
| 2022-08-01 | $94,450 (-19.6%) | $166,561 (5.9%) | 0.00 | 74 |
| 2022-09-01 | $99,575 (-23.4%) | $163,119 (-8.0%) | 0.00 | 78 |
| 2022-10-01 | $114,950 (3.7%) | $168,854 (-0.4%) | 0.00 | 82 |
| 2022-11-01 | $117,400 (14.9%) | $159,848 (9.3%) | 0.00 | 99 |
| 2022-12-01 | $115,000 (19.3%) | $166,887 (21.8%) | 0.00 | 89 |
| 2023-01-01 | $114,900 (23.2%) | $160,181 (22.4%) | 0.00 | 90 |
| 2023-02-01 | $125,300 (24.8%) | $173,602 (19.0%) | 0.00 | 82 |
| 2023-03-01 | $118,300 (19.5%) | $173,322 (15.9%) | 0.00 | 66 |
| 2023-04-01 | $143,500 (40.0%) | $198,608 (22.5%) | 0.00 | 60 |
| 2023-05-01 | $127,425 (28.5%) | $195,406 (23.4%) | 0.00 | 72 |
| 2023-06-01 | $127,950 (36.2%) | $203,371 (31.1%) | 0.00 | 79 |
| 2023-07-01 | $132,900 (38.2%) | $205,653 (28.3%) | 0.00 | 72 |
| 2023-08-01 | $125,175 (32.5%) | $203,185 (22.0%) | 0.00 | 80 |
| 2023-09-01 | $114,750 (15.2%) | $173,496 (6.4%) | 0.00 | 68 |
| 2023-10-01 | $110,500 (-3.9%) | $155,671 (-7.8%) | 0.00 | 79 |
| 2023-11-01 | $110,500 (-5.9%) | $148,117 (-7.3%) | 0.00 | 79 |
| 2023-12-01 | $112,450 (-2.2%) | $149,250 (-10.6%) | 0.00 | 74 |
| 2024-01-01 | $108,225 (-5.8%) | $148,685 (-7.2%) | 0.00 | 71 |
| 2024-02-01 | $94,950 (-24.2%) | $144,316 (-16.9%) | 0.00 | 68 |
| 2024-03-01 | $122,400 (3.5%) | $183,432 (5.8%) | 0.00 | 67 |
Galesburg's median listing price comes in at 0% of the national average.
Galesburg's average listing price for 2024-03-01 was $183,432, a difference of $10,110 (5.8%) versus the prior year and $39,116 versus the prior month.
For the 2024-03-01 period, Galesburg had 67 MLS listings, a difference of -1 listings (-1%) versus the prior month and 1 listings (2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Galesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,526 sqft |
| 2018-02-01 | 0 days | 1,506 sqft |
| 2018-03-01 | 0 days | 1,521 sqft |
| 2018-04-01 | 0 days | 1,557 sqft |
| 2018-05-01 | 0 days | 1,517 sqft |
| 2018-06-01 | 0 days | 1,515 sqft |
| 2018-07-01 | 0 days | 1,522 sqft |
| 2018-08-01 | 0 days | 1,488 sqft |
| 2018-09-01 | 0 days | 1,488 sqft |
| 2018-10-01 | 0 days | 1,502 sqft |
| 2018-11-01 | 0 days | 1,483 sqft |
| 2018-12-01 | 0 days | 1,501 sqft |
| 2019-01-01 | 0 days | 1,546 sqft |
| 2019-02-01 | 0 days | 1,544 sqft |
| 2019-03-01 | 0 days | 1,569 sqft |
| 2019-04-01 | 0 days | 1,588 sqft |
| 2019-05-01 | 0 days | 1,603 sqft |
| 2019-06-01 | 0 days | 1,664 sqft |
| 2019-07-01 | 0 days | 1,664 sqft |
| 2019-08-01 | 0 days | 1,591 sqft |
| 2019-09-01 | 0 days | 1,579 sqft |
| 2019-10-01 | 0 days | 1,571 sqft |
| 2019-11-01 | 0 days | 1,532 sqft |
| 2019-12-01 | 0 days | 1,524 sqft |
| 2020-01-01 | 0 days | 1,532 sqft |
| 2020-02-01 | 0 days | 1,536 sqft |
| 2020-03-01 | 0 days | 1,545 sqft |
| 2020-04-01 | 0 days | 1,539 sqft |
| 2020-05-01 | 0 days | 1,566 sqft |
| 2020-06-01 | 0 days | 1,542 sqft |
| 2020-07-01 | 0 days | 1,646 sqft |
| 2020-08-01 | 0 days | 1,640 sqft |
| 2020-09-01 | 0 days | 1,606 sqft |
| 2020-10-01 | 0 days | 1,581 sqft |
| 2020-11-01 | 0 days | 1,555 sqft |
| 2020-12-01 | 0 days | 1,532 sqft |
| 2021-01-01 | 0 days | 1,440 sqft |
| 2021-02-01 | 0 days | 1,371 sqft |
| 2021-03-01 | 0 days | 1,400 sqft |
| 2021-04-01 | 0 days | 1,582 sqft |
| 2021-05-01 | 0 days | 1,510 sqft |
| 2021-06-01 | 0 days | 1,442 sqft |
| 2021-07-01 | 0 days | 1,464 sqft |
| 2021-08-01 | 0 days | 1,586 sqft |
| 2021-09-01 | 0 days | 1,632 sqft |
| 2021-10-01 | 0 days | 1,473 sqft |
| 2021-11-01 | 0 days | 1,437 sqft |
| 2021-12-01 | 0 days | 1,462 sqft |
| 2022-01-01 | 0 days | 1,506 sqft |
| 2022-02-01 | 0 days | 1,412 sqft |
| 2022-03-01 | 0 days | 1,399 sqft |
| 2022-04-01 | 0 days | 1,422 sqft |
| 2022-05-01 | 0 days | 1,472 sqft |
| 2022-06-01 | 0 days | 1,452 sqft |
| 2022-07-01 | 0 days | 1,400 sqft |
| 2022-08-01 | 0 days | 1,410 sqft |
| 2022-09-01 | 0 days | 1,349 sqft |
| 2022-10-01 | 0 days | 1,380 sqft |
| 2022-11-01 | 0 days | 1,411 sqft |
| 2022-12-01 | 0 days | 1,404 sqft |
| 2023-01-01 | 0 days | 1,398 sqft |
| 2023-02-01 | 0 days | 1,412 sqft |
| 2023-03-01 | 0 days | 1,429 sqft |
| 2023-04-01 | 0 days | 1,420 sqft |
| 2023-05-01 | 0 days | 1,448 sqft |
| 2023-06-01 | 0 days | 1,548 sqft |
| 2023-07-01 | 0 days | 1,637 sqft |
| 2023-08-01 | 0 days | 1,642 sqft |
| 2023-09-01 | 0 days | 1,602 sqft |
| 2023-10-01 | 0 days | 1,521 sqft |
| 2023-11-01 | 0 days | 1,389 sqft |
| 2023-12-01 | 0 days | 1,521 sqft |
| 2024-01-01 | 0 days | 1,450 sqft |
| 2024-02-01 | 0 days | 1,384 sqft |
| 2024-03-01 | 0 days | 1,466 sqft |
Galesburg's median square footage for active listings during the 2024-03-01 period was 1,466 sqft. One year prior, the average listing was 1,429 sqft.