Janesville VA Loan Rates, Closing Costs & Stats

JANESVILLE-BELOIT, WI

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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.

    Janesville's 49 lenders originated 168 VA loans during 2023. The total origination value was $41,890,000, with an average VA loan value of $249,345.

    Janesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Janesville averaged 6.72% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Janesville's average VA mortgage closing costs are $5,116.

    The average rate for the prior week (2024-07-12) was 6.46% and one month ago for the week of 2024-06-14, the average rate was 6.62%.

    The average rate one year ago was 6.6%.

    For refis of the same type during the week of 2024-07-19, the average rate was 5.67%.

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

    Janesville 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 Janesville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 41 6.68% $5,875
    GUILD MORTGAGE COMPANY 15 6.81% $9,626
    QUICKEN LOANS, LLC 11 5.88% $11,645
    UNITED WHOLESALE MORTGAGE, LLC 8 7.45% $6,794
    ENVOY MORTGAGE, LTD 7 6.68% $4,701
    Barrington Bank & Trust Company, N.A. 5 6.70% $4,553
    CROSSCOUNTRY MORTGAGE, LLC 4 6.88% $7,593
    LOANDEPOT.COM, LLC 4 5.97% $9,110
    NAVY FEDERAL CREDIT UNION 4 5.66% $4,103
    Nations Lending Corporation 3 6.75% $12,247
    NEW DAY FINANCIAL, LLC 3 7.58% $7,257
    PENNYMAC LOAN SERVICES, LLC 3 5.38% $6,002
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.75% $6,849
    Mr. Cooper ( Nationstar Mortgage ) 3 5.71% $10,688
    GUARANTEED RATE, INC. 3 6.04% $6,404
    Johnson Bank 3 6.50% $5,705
    USAA Federal Savings Bank 3 5.96% $7,572
    Prosperity Home Mortgage, LLC 2 6.69% $3,221
    Bell Bank 2 6.44% $6,989
    Blackhawk Bank 2 7.00% $7,646
    U.S. Bank 2 6.19% $4,498
    VILLAGE CAPITAL MORTGAGE 2 5.57% $13,862
    CORNERSTONE HOME LENDING, INC. 2 6.50% $8,114
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.19% $10,226
    BROKER SOLUTIONS, INC. 2 6.25% $6,366
    NEWREZ LLC 2 6.75% $4,525
    WISCONSIN MORTGAGE CORPORATION 1 7.75% $4,066
    Bank Five Nine 1 6.63% $9,825
    CALIBER HOME LOANS, INC. 1 6.75% $3,251
    CARDINAL FINANCIAL 1 6.25% $13,891
    CIBM Bank 1 6.13% $7,845
    DAS Acquisition Company, LLC 1 7.63% $1,015
    ENDEAVOR CAPITAL, LLC. 1 6.75% $8,709
    FREEDOM MORTGAGE CORPORATION 1 7.25% $13,691
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $2,678
    JPMorgan Chase Bank 1 6.63% $0
    KELLER MORTGAGE, LLC 1 6.25% $9,270
    LOANPAL, LLC 1 7.00% $7,955
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $20,230
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $1,488
    NexBank 1 7.00% $3,758
    PENTAGON FEDERAL CREDIT UNION 1 6.38% $13,823
    Plains Commerce Bank 1 6.50% $10,407
    PLANET HOME LENDING, LLC 1 6.25% $2,755
    Servion, Inc. 1 6.13% $12,747
    The Federal Savings Bank 1 6.00% $12,918
    THOMPSON KANE & COMPANY, LLC 1 7.25% $14,114
    University of Wisconsin Credit Union 1 7.13% $7,747
    Ameris Bank 1 7.13% $3,332

    The top Janesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 41 VA loans originated. Their average total fees are $5,875, which is $3,752 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Janesville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,875), GUILD MORTGAGE COMPANY ($9,626), QUICKEN LOANS, LLC ($11,645), .

    The lowest rate Janesville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.88%), Mortgage Research Center, LLC (6.68%), GUILD MORTGAGE COMPANY (6.81%), .

    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.