Jackson VA Loan Rates, Closing Costs & Stats

JACKSON, MI

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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.

    Jackson's 40 lenders originated 149 VA loans during 2023. The total origination value was $34,545,000, with an average VA loan value of $231,846.

    Jackson VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Jackson averaged 6.91% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Jackson's average VA mortgage closing costs are $4,867.

    The average rate for the prior week (2024-04-12) was 6.84% and one month ago for the week of 2024-03-15, the average rate was 6.61%.

    The average rate one year ago was 6.2%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.07%.

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

    Jackson 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 Jackson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 42 6.81% $4,290
    MORTGAGE 1 INCORPORATED 11 6.66% $6,791
    QUICKEN LOANS, LLC 11 6.10% $9,527
    Flagstar Bank, FSB 8 6.93% $8,457
    UNITED WHOLESALE MORTGAGE, LLC 8 6.57% $6,340
    PENNYMAC LOAN SERVICES, LLC 7 5.34% $7,673
    RUOFF MORTGAGE COMPANY, INC. 6 6.73% $5,105
    NEW DAY FINANCIAL, LLC 5 7.05% $7,909
    CROSSCOUNTRY MORTGAGE, LLC 4 7.31% $4,611
    The Huntington National Bank 3 7.13% $6,180
    NAVY FEDERAL CREDIT UNION 3 5.88% $3,099
    The Dart Bank 2 6.38% $13,296
    ROSS MORTGAGE CORPORATION 2 6.63% $5,325
    DAS Acquisition Company, LLC 2 6.81% $2,603
    Platinum Home Mortgage Corporation 2 5.87% $16,804
    FREEDOM MORTGAGE CORPORATION 2 6.13% $6,849
    VILLAGE CAPITAL MORTGAGE 2 6.25% $8,163
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $5,286
    THE MORTGAGE LINK, INC. 1 7.00% $13,332
    TOWNE MORTGAGE COMPANY 1 6.50% $7,148
    UNION HOME MORTGAGE CORP. 1 6.63% $17,160
    USAA Federal Savings Bank 1 7.38% $9,763
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $14,666
    Wells Fargo Bank 1 5.63% $5,377
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $9,462
    CARDINAL FINANCIAL 1 7.75% $8,757
    EVANSVILLE TEACHERS 1 6.13% $6,426
    Fifth Third Bank 1 7.13% $6,237
    First Savings Bank 1 7.13% $12,879
    HOMESTAR FINANCIAL CORPORATION 1 7.25% $5,679
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.63% $5,954
    LOANDEPOT.COM, LLC 1 5.99% $3,675
    MJW Financial LLC 1 5.75% $5,754
    MOVEMENT MORTGAGE, LLC 1 6.25% $4,776
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $5,171
    NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $30,728
    NEWREZ LLC 1 6.00% $8,067
    Preston Home Loans Inc 1 6.63% $11,972
    SIRVA MORTGAGE, INC. 1 6.13% $4,197
    STAUNTON FINANCIAL, INC. 1 7.25% $9,592

    The top Jackson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 42 VA loans originated. Their average total fees are $4,290, which is $2,501 lower than the next largest lender, MORTGAGE 1 INCORPORATED.

    The lowest fee Jackson VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,290), MORTGAGE 1 INCORPORATED ($6,791), QUICKEN LOANS, LLC ($9,527), .

    The lowest rate Jackson VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.10%), MORTGAGE 1 INCORPORATED (6.66%), Mortgage Research Center, LLC (6.81%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Jackson (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 $139,900 (4.6%) $166,532 (-5.5%) 0.52 631
    2018-02-01 $134,974 (-3.5%) $167,712 (-7.3%) 0.49 602
    2018-03-01 $139,450 (-0.3%) $167,908 (-8.7%) 0.49 610
    2018-04-01 $139,900 (0.0%) $173,667 (-6.3%) 0.47 641
    2018-05-01 $149,900 (2.7%) $181,192 (-3.0%) 0.50 679
    2018-06-01 $155,000 (3.4%) $189,831 (0.8%) 0.52 702
    2018-07-01 $149,900 (0.0%) $186,572 (0.5%) 0.50 747
    2018-08-01 $150,946 (0.6%) $187,688 (0.2%) 0.51 761
    2018-09-01 $154,900 (-3.1%) $192,303 (2.1%) 0.52 797
    2018-10-01 $152,294 (1.6%) $200,748 (8.8%) 0.52 784
    2018-11-01 $149,665 (-0.2%) $194,678 (7.9%) 0.51 757
    2018-12-01 $144,950 (0.0%) $192,672 (12.6%) 0.50 689
    2019-01-01 $143,575 (2.6%) $194,317 (16.7%) 0.50 621
    2019-02-01 $144,925 (7.4%) $196,136 (17.0%) 0.49 612
    2019-03-01 $147,114 (5.5%) $196,844 (17.2%) 0.48 595
    2019-04-01 $152,450 (9.0%) $213,979 (23.2%) 0.48 597
    2019-05-01 $158,175 (5.5%) $215,641 (19.0%) 0.49 641
    2019-06-01 $162,500 (4.8%) $218,797 (15.3%) 0.51 669
    2019-07-01 $163,100 (8.8%) $218,191 (17.0%) 0.51 706
    2019-08-01 $163,091 (8.1%) $213,058 (13.5%) 0.52 720
    2019-09-01 $160,227 (3.4%) $204,518 (6.4%) 0.51 744
    2019-10-01 $159,268 (4.6%) $199,773 (-0.5%) 0.51 746
    2019-11-01 $158,950 (6.2%) $199,632 (2.5%) 0.52 680
    2019-12-01 $149,900 (3.4%) $191,952 (-0.4%) 0.50 596
    2020-01-01 $149,900 (4.4%) $189,212 (-2.6%) 0.50 543
    2020-02-01 $145,000 (0.1%) $184,360 (-6.0%) 0.47 540
    2020-03-01 $149,900 (1.9%) $192,590 (-2.2%) 0.47 535
    2020-04-01 $156,000 (2.3%) $196,728 (-8.1%) 0.49 493
    2020-05-01 $172,400 (9.0%) $208,128 (-3.5%) 0.52 509
    2020-06-01 $178,450 (9.8%) $208,772 (-4.6%) 0.53 553
    2020-07-01 $186,500 (14.4%) $216,908 (-0.6%) 0.54 565
    2020-08-01 $176,900 (8.5%) $214,654 (0.8%) 0.51 534
    2020-09-01 $174,925 (9.2%) $220,830 (8.0%) 0.50 504
    2020-10-01 $174,900 (9.8%) $225,728 (13.0%) 0.50 494
    2020-11-01 $169,950 (6.9%) $217,422 (8.9%) 0.50 469
    2020-12-01 $162,450 (8.4%) $207,429 (8.1%) 0.48 433
    2021-01-01 $149,900 (0.0%) $202,742 (7.2%) 0.45 375
    2021-02-01 $149,900 (3.4%) $202,757 (10.0%) 0.44 308
    2021-03-01 $145,750 (-2.8%) $210,125 (9.1%) 0.41 285
    2021-04-01 $147,000 (-5.8%) $209,403 (6.4%) 0.40 292
    2021-05-01 $162,900 (-5.5%) $217,040 (4.3%) 0.43 355
    2021-06-01 $175,000 (-1.9%) $230,496 (10.4%) 0.46 417
    2021-07-01 $179,900 (-3.5%) $236,488 (9.0%) 0.47 464
    2021-08-01 $181,475 (2.6%) $254,881 (18.7%) 0.48 252
    2021-09-01 $180,950 (3.4%) $234,776 (6.3%) 0.48 291
    2021-10-01 $169,900 (-2.9%) $215,217 (-4.7%) 0.45 290
    2021-11-01 $157,150 (-7.5%) $197,765 (-9.0%) 0.42 262
    2021-12-01 $153,475 (-5.5%) $200,618 (-3.3%) 0.42 226
    2022-01-01 $164,000 (9.4%) $212,332 (4.7%) 0.44 213
    2022-02-01 $173,675 (15.9%) $226,694 (11.8%) 0.45 198
    2022-03-01 $177,975 (22.1%) $234,701 (11.7%) 0.45 178
    2022-04-01 $179,950 (22.4%) $223,799 (6.9%) 0.43 174
    2022-05-01 $189,975 (16.6%) $248,341 (14.4%) 0.43 197
    2022-06-01 $219,925 (25.7%) $274,681 (19.2%) 0.49 223
    2022-07-01 $229,000 (27.3%) $282,730 (19.6%) 0.52 278
    2022-08-01 $217,400 (19.8%) $283,247 (11.1%) 0.50 283
    2022-09-01 $219,950 (21.6%) $286,814 (22.2%) 0.51 298
    2022-10-01 $220,000 (29.5%) $277,095 (28.8%) 0.52 308
    2022-11-01 $212,250 (35.1%) $270,966 (37.0%) 0.51 291
    2022-12-01 $199,999 (30.3%) $255,607 (27.4%) 0.49 267
    2023-01-01 $193,200 (17.8%) $252,845 (19.1%) 0.48 229
    2023-02-01 $223,750 (28.8%) $269,783 (19.0%) 0.54 183
    2023-03-01 $235,750 (32.5%) $288,415 (22.9%) 0.56 159
    2023-04-01 $239,900 (33.3%) $307,151 (37.2%) 0.56 179
    2023-05-01 $264,325 (39.1%) $314,388 (26.6%) 0.60 206
    2023-06-01 $262,400 (19.3%) $310,825 (13.2%) 0.59 216
    2023-07-01 $245,000 (7.0%) $301,167 (6.5%) 0.56 228
    2023-08-01 $233,425 (7.4%) $305,038 (7.7%) 0.54 239
    2023-09-01 $229,000 (4.1%) $303,602 (5.9%) 0.53 249
    2023-10-01 $239,950 (9.1%) $310,634 (12.1%) 0.56 287
    2023-11-01 $247,450 (16.6%) $307,652 (13.5%) 0.59 274
    2023-12-01 $233,750 (16.9%) $299,287 (17.1%) 0.57 262
    2024-01-01 $224,975 (16.5%) $287,859 (13.9%) 0.55 243
    2024-02-01 $209,750 (-6.3%) $279,780 (3.7%) 0.50 219
    2024-03-01 $245,900 (4.3%) $308,511 (7.0%) 0.58 213
    Jackson's median listing price for 2024-03-01 was $245,900, a difference of $10,150 (4.3%) versus the prior year and $36,150 versus the prior month.

    Jackson's median listing price comes in at 58% of the national average.

    Jackson's average listing price for 2024-03-01 was $308,511, a difference of $20,096 (7.0%) versus the prior year and $28,731 versus the prior month.

    For the 2024-03-01 period, Jackson had 213 MLS listings, a difference of -6 listings (-3%) versus the prior month and 54 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 79 days 1,596 sqft
    2018-02-01 72 days 1,574 sqft
    2018-03-01 53 days 1,600 sqft
    2018-04-01 48 days 1,581 sqft
    2018-05-01 44 days 1,605 sqft
    2018-06-01 43 days 1,679 sqft
    2018-07-01 42 days 1,663 sqft
    2018-08-01 45 days 1,683 sqft
    2018-09-01 47 days 1,712 sqft
    2018-10-01 52 days 1,703 sqft
    2018-11-01 55 days 1,661 sqft
    2018-12-01 64 days 1,603 sqft
    2019-01-01 73 days 1,590 sqft
    2019-02-01 68 days 1,600 sqft
    2019-03-01 59 days 1,650 sqft
    2019-04-01 46 days 1,676 sqft
    2019-05-01 44 days 1,656 sqft
    2019-06-01 45 days 1,746 sqft
    2019-07-01 46 days 1,761 sqft
    2019-08-01 48 days 1,749 sqft
    2019-09-01 50 days 1,710 sqft
    2019-10-01 52 days 1,692 sqft
    2019-11-01 56 days 1,693 sqft
    2019-12-01 67 days 1,642 sqft
    2020-01-01 74 days 1,640 sqft
    2020-02-01 61 days 1,592 sqft
    2020-03-01 55 days 1,595 sqft
    2020-04-01 62 days 1,584 sqft
    2020-05-01 69 days 1,650 sqft
    2020-06-01 43 days 1,711 sqft
    2020-07-01 44 days 1,740 sqft
    2020-08-01 46 days 1,708 sqft
    2020-09-01 41 days 1,700 sqft
    2020-10-01 40 days 1,697 sqft
    2020-11-01 46 days 1,696 sqft
    2020-12-01 46 days 1,675 sqft
    2021-01-01 50 days 1,560 sqft
    2021-02-01 49 days 1,558 sqft
    2021-03-01 43 days 1,558 sqft
    2021-04-01 33 days 1,567 sqft
    2021-05-01 30 days 1,623 sqft
    2021-06-01 32 days 1,611 sqft
    2021-07-01 31 days 1,600 sqft
    2021-08-01 23 days 1,602 sqft
    2021-09-01 32 days 1,613 sqft
    2021-10-01 37 days 1,600 sqft
    2021-11-01 44 days 1,558 sqft
    2021-12-01 50 days 1,561 sqft
    2022-01-01 53 days 1,540 sqft
    2022-02-01 51 days 1,597 sqft
    2022-03-01 47 days 1,559 sqft
    2022-04-01 40 days 1,525 sqft
    2022-05-01 32 days 1,588 sqft
    2022-06-01 33 days 1,618 sqft
    2022-07-01 32 days 1,728 sqft
    2022-08-01 39 days 1,725 sqft
    2022-09-01 45 days 1,698 sqft
    2022-10-01 47 days 1,660 sqft
    2022-11-01 50 days 1,650 sqft
    2022-12-01 58 days 1,649 sqft
    2023-01-01 65 days 1,636 sqft
    2023-02-01 59 days 1,677 sqft
    2023-03-01 52 days 1,698 sqft
    2023-04-01 37 days 1,673 sqft
    2023-05-01 29 days 1,716 sqft
    2023-06-01 32 days 1,740 sqft
    2023-07-01 38 days 1,695 sqft
    2023-08-01 40 days 1,707 sqft
    2023-09-01 42 days 1,756 sqft
    2023-10-01 46 days 1,681 sqft
    2023-11-01 50 days 1,704 sqft
    2023-12-01 52 days 1,624 sqft
    2024-01-01 56 days 1,589 sqft
    2024-02-01 55 days 1,536 sqft
    2024-03-01 43 days 1,653 sqft
    Jackson's median listing age (time on market) for 2024-03-01 was 43 days. This is -18% shorter than the same period one year ago.

    Jackson's median square footage for active listings during the 2024-03-01 period was 1,653 sqft. One year prior, the average listing was 1,698 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.