Hillsdale VA Loan Rates, Closing Costs & Stats

Hillsdale, MI

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.

Hillsdale's 15 lenders originated 40 VA loans during 2023. The total origination value was $7,490,000, with an average VA loan value of $187,250.

Hillsdale VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Hillsdale averaged 6.21% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

Hillsdale's average VA mortgage closing costs are $4,431.

The average rate for the prior week (2024-10-04) was 5.88% and one month ago for the week of 2024-09-06, the average rate was 6.27%.

The average rate one year ago was 7.44%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.05%.

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

Hillsdale 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 Hillsdale level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 16 6.59% $4,447
QUICKEN LOANS, LLC 4 6.44% $7,602
FREEDOM MORTGAGE CORPORATION 2 6.56% $13,037
CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $2,833
Barrington Bank & Trust Company, N.A. 2 7.00% $5,613
MORTGAGE 1 INCORPORATED 2 7.13% $3,647
UNION HOME MORTGAGE CORP. 1 6.63% $7,077
UNITED WHOLESALE MORTGAGE, LLC 1 6.13% $625
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $3,684
USAA Federal Savings Bank 1 6.13% $17,329
BAY EQUITY LLC 1 5.13% $7,558
EQUITY RESOURCES, INC. 1 6.75% $1,083
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $3,045
KeyBank 1 6.25% $3,575
Mr. Cooper ( Nationstar Mortgage ) 1 6.00% $7,077

The top Hillsdale VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $4,447, which is $3,154 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Hillsdale VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,447), .

The lowest rate Hillsdale VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.59%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hillsdale (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 $141,900 (-3.0%) $167,164 (-7.3%) 0.00 156
2018-02-01 $140,400 (-0.9%) $169,808 (-5.3%) 0.00 152
2018-03-01 $139,900 (-0.4%) $170,638 (-5.3%) 0.00 158
2018-04-01 $139,900 (-3.5%) $166,582 (-7.1%) 0.00 163
2018-05-01 $139,900 (-1.4%) $165,250 (-6.8%) 0.00 164
2018-06-01 $149,250 (7.0%) $177,599 (3.9%) 0.00 171
2018-07-01 $149,500 (10.7%) $182,564 (11.9%) 0.00 191
2018-08-01 $144,900 (4.2%) $176,910 (10.4%) 0.00 204
2018-09-01 $144,900 (3.6%) $176,403 (9.1%) 0.00 217
2018-10-01 $139,900 (2.9%) $173,676 (7.6%) 0.00 206
2018-11-01 $142,400 (1.8%) $168,298 (0.4%) 0.00 199
2018-12-01 $145,200 (1.7%) $169,999 (1.7%) 0.00 171
2019-01-01 $130,400 (-8.1%) $157,791 (-5.6%) 0.00 149
2019-02-01 $133,425 (-5.0%) $163,678 (-3.6%) 0.00 131
2019-03-01 $143,471 (2.6%) $179,413 (5.1%) 0.00 132
2019-04-01 $153,471 (9.7%) $195,553 (17.4%) 0.00 137
2019-05-01 $165,400 (18.2%) $205,146 (24.1%) 0.00 153
2019-06-01 $169,900 (13.8%) $208,325 (17.3%) 0.00 166
2019-07-01 $161,450 (8.0%) $199,865 (9.5%) 0.00 181
2019-08-01 $159,123 (9.8%) $197,124 (11.4%) 0.00 185
2019-09-01 $159,307 (9.9%) $195,879 (11.0%) 0.00 188
2019-10-01 $159,675 (14.1%) $195,048 (12.3%) 0.00 187
2019-11-01 $164,950 (15.8%) $193,065 (14.7%) 0.00 178
2019-12-01 $162,500 (11.9%) $185,448 (9.1%) 0.00 157
2020-01-01 $159,950 (22.7%) $182,842 (15.9%) 0.00 130
2020-02-01 $159,900 (19.8%) $184,790 (12.9%) 0.00 126
2020-03-01 $164,350 (14.6%) $194,252 (8.3%) 0.00 124
2020-04-01 $160,575 (4.6%) $193,323 (-1.1%) 0.00 118
2020-05-01 $160,950 (-2.7%) $195,715 (-4.6%) 0.00 120
2020-06-01 $174,400 (2.7%) $205,786 (-1.2%) 0.00 119
2020-07-01 $189,450 (17.3%) $213,024 (6.6%) 0.00 116
2020-08-01 $175,000 (10.0%) $207,013 (5.0%) 0.00 103
2020-09-01 $194,700 (22.2%) $226,886 (15.8%) 0.00 83
2020-10-01 $199,900 (25.2%) $238,571 (22.3%) 0.00 77
2020-11-01 $169,900 (3.0%) $218,472 (13.2%) 0.00 78
2020-12-01 $164,975 (1.5%) $207,789 (12.1%) 0.00 78
2021-01-01 $156,500 (-2.2%) $199,972 (9.4%) 0.00 70
2021-02-01 $147,450 (-7.8%) $191,527 (3.7%) 0.00 57
2021-03-01 $156,500 (-4.8%) $206,417 (6.3%) 0.00 44
2021-04-01 $164,450 (2.4%) $221,553 (14.6%) 0.00 44
2021-05-01 $189,900 (18.0%) $231,983 (18.5%) 0.00 46
2021-06-01 $197,400 (13.2%) $242,533 (17.9%) 0.00 48
2021-07-01 $174,900 (-7.7%) $228,241 (7.1%) 0.00 60
2021-08-01 $183,425 (4.8%) $233,944 (13.0%) 0.00 51
2021-09-01 $178,650 (-8.2%) $229,734 (1.3%) 0.00 59
2021-10-01 $167,900 (-16.0%) $235,017 (-1.5%) 0.00 60
2021-11-01 $163,675 (-3.7%) $227,087 (3.9%) 0.00 65
2021-12-01 $157,900 (-4.3%) $218,285 (5.1%) 0.00 64
2022-01-01 $152,900 (-2.3%) $218,494 (9.3%) 0.00 55
2022-02-01 $165,750 (12.4%) $235,730 (23.1%) 0.00 40
2022-03-01 $194,950 (24.6%) $271,447 (31.5%) 0.00 42
2022-04-01 $215,000 (30.7%) $311,794 (40.7%) 0.00 42
2022-05-01 $224,950 (18.5%) $306,669 (32.2%) 0.00 56
2022-06-01 $217,000 (9.9%) $308,767 (27.3%) 0.00 76
2022-07-01 $195,000 (11.5%) $282,257 (23.7%) 0.00 87
2022-08-01 $189,900 (3.5%) $263,606 (12.7%) 0.00 99
2022-09-01 $201,050 (12.5%) $278,766 (21.3%) 0.00 92
2022-10-01 $199,997 (19.1%) $278,820 (18.6%) 0.00 89
2022-11-01 $205,300 (25.4%) $279,251 (23.0%) 0.00 87
2022-12-01 $214,500 (35.9%) $281,807 (29.1%) 0.00 77
2023-01-01 $207,400 (35.6%) $284,802 (30.4%) 0.00 63
2023-02-01 $222,400 (34.2%) $299,873 (27.2%) 0.00 53
2023-03-01 $228,650 (17.3%) $249,706 (-8.0%) 0.00 52
2023-04-01 $239,900 (11.6%) $256,925 (-17.6%) 0.00 49
2023-05-01 $259,925 (15.6%) $277,480 (-9.5%) 0.00 53
2023-06-01 $253,675 (16.9%) $313,635 (1.6%) 0.00 63
2023-07-01 $249,900 (28.2%) $303,509 (7.5%) 0.00 70
2023-08-01 $248,000 (30.6%) $295,278 (12.0%) 0.00 76
2023-09-01 $259,000 (28.8%) $313,730 (12.5%) 0.00 92
2023-10-01 $249,900 (25.0%) $306,873 (10.1%) 0.00 102
2023-11-01 $229,900 (12.0%) $316,245 (13.3%) 0.00 97
2023-12-01 $225,000 (4.9%) $320,517 (13.7%) 0.00 90
2024-01-01 $232,450 (12.1%) $332,914 (16.9%) 0.00 78
2024-02-01 $251,175 (12.9%) $335,262 (11.8%) 0.00 69
2024-03-01 $259,900 (13.7%) $344,225 (37.9%) 0.00 67
2024-04-01 $292,450 (21.9%) $368,702 (43.5%) 0.00 73
2024-05-01 $298,000 (14.7%) $347,015 (25.1%) 0.00 91
2024-06-01 $290,900 (14.7%) $330,413 (5.4%) 0.00 103
2024-07-01 $299,000 (19.7%) $342,649 (12.9%) 0.00 104
2024-08-01 $272,400 (9.8%) $323,405 (9.5%) 0.00 109
2024-09-01 $267,400 (3.2%) $311,762 (-0.6%) 0.00 124
Hillsdale's median listing price for 2024-09-01 was $267,400, a difference of $8,400 (3.2%) versus the prior year and $-5,000 versus the prior month.

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

Hillsdale's average listing price for 2024-09-01 was $311,762, a difference of $-1,968 (-0.6%) versus the prior year and $-11,643 versus the prior month.

For the 2024-09-01 period, Hillsdale had 124 MLS listings, a difference of 15 listings (14%) versus the prior month and 32 listings (35%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hillsdale (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,630 sqft
2018-02-01 0 days 1,680 sqft
2018-03-01 0 days 1,600 sqft
2018-04-01 0 days 1,628 sqft
2018-05-01 0 days 1,673 sqft
2018-06-01 0 days 1,594 sqft
2018-07-01 0 days 1,515 sqft
2018-08-01 0 days 1,512 sqft
2018-09-01 0 days 1,536 sqft
2018-10-01 0 days 1,616 sqft
2018-11-01 0 days 1,602 sqft
2018-12-01 0 days 1,655 sqft
2019-01-01 0 days 1,646 sqft
2019-02-01 0 days 1,635 sqft
2019-03-01 0 days 1,638 sqft
2019-04-01 0 days 1,654 sqft
2019-05-01 0 days 1,743 sqft
2019-06-01 0 days 1,757 sqft
2019-07-01 0 days 1,684 sqft
2019-08-01 0 days 1,697 sqft
2019-09-01 0 days 1,741 sqft
2019-10-01 0 days 1,774 sqft
2019-11-01 0 days 1,769 sqft
2019-12-01 0 days 1,762 sqft
2020-01-01 0 days 1,803 sqft
2020-02-01 0 days 1,719 sqft
2020-03-01 0 days 1,740 sqft
2020-04-01 0 days 1,773 sqft
2020-05-01 0 days 1,790 sqft
2020-06-01 0 days 1,779 sqft
2020-07-01 0 days 1,872 sqft
2020-08-01 0 days 1,650 sqft
2020-09-01 0 days 1,648 sqft
2020-10-01 0 days 1,746 sqft
2020-11-01 0 days 1,622 sqft
2020-12-01 0 days 1,683 sqft
2021-01-01 0 days 1,649 sqft
2021-02-01 0 days 1,598 sqft
2021-03-01 0 days 1,519 sqft
2021-04-01 0 days 1,528 sqft
2021-05-01 0 days 1,650 sqft
2021-06-01 0 days 1,667 sqft
2021-07-01 0 days 1,664 sqft
2021-08-01 0 days 1,600 sqft
2021-09-01 0 days 1,586 sqft
2021-10-01 0 days 1,650 sqft
2021-11-01 0 days 1,665 sqft
2021-12-01 0 days 1,677 sqft
2022-01-01 0 days 1,588 sqft
2022-02-01 0 days 1,562 sqft
2022-03-01 0 days 1,645 sqft
2022-04-01 0 days 1,650 sqft
2022-05-01 0 days 1,637 sqft
2022-06-01 0 days 1,702 sqft
2022-07-01 0 days 1,721 sqft
2022-08-01 0 days 1,720 sqft
2022-09-01 0 days 1,673 sqft
2022-10-01 0 days 1,748 sqft
2022-11-01 0 days 1,742 sqft
2022-12-01 0 days 1,747 sqft
2023-01-01 0 days 1,658 sqft
2023-02-01 0 days 1,705 sqft
2023-03-01 0 days 1,778 sqft
2023-04-01 0 days 1,768 sqft
2023-05-01 0 days 1,768 sqft
2023-06-01 0 days 1,843 sqft
2023-07-01 0 days 1,800 sqft
2023-08-01 0 days 1,779 sqft
2023-09-01 0 days 1,818 sqft
2023-10-01 0 days 1,718 sqft
2023-11-01 0 days 1,674 sqft
2023-12-01 0 days 1,646 sqft
2024-01-01 0 days 1,701 sqft
2024-02-01 0 days 1,713 sqft
2024-03-01 0 days 1,720 sqft
2024-04-01 0 days 1,810 sqft
2024-05-01 0 days 1,773 sqft
2024-06-01 0 days 1,796 sqft
2024-07-01 0 days 1,745 sqft
2024-08-01 0 days 1,724 sqft
2024-09-01 0 days 1,688 sqft
Hillsdale's median listing age (time on market) for 2024-09-01 was 0 days.

Hillsdale's median square footage for active listings during the 2024-09-01 period was 1,688 sqft. One year prior, the average listing was 1,818 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.