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 59 lenders originated 211 VA loans during 2022. The total origination value was $50,605,000, with an average VA loan value of $239,834.

    Janesville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Janesville averaged 6.4% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Janesville's average VA mortgage closing costs are $4,869.

    The average rate for the prior week (2023-05-19) was 6.23% and one month ago for the week of 2023-04-21, the average rate was 5.85%.

    The average rate one year ago was 5.22%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.94%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 36 5.48% $8,015
    QUICKEN LOANS, LLC 26 4.21% $8,118
    ENVOY MORTGAGE, LTD 12 5.20% $6,511
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 4.73% $7,802
    GUILD MORTGAGE COMPANY 8 5.53% $10,897
    UNITED WHOLESALE MORTGAGE, LLC 7 4.38% $7,570
    USAA Federal Savings Bank 6 4.81% $4,576
    NAVY FEDERAL CREDIT UNION 5 4.03% $5,702
    FREEDOM MORTGAGE CORPORATION 5 5.48% $9,215
    NEW DAY FINANCIAL, LLC 5 5.35% $9,270
    INLANTA MORTGAGE, INC. 5 4.83% $10,739
    LOANDEPOT.COM, LLC 4 5.09% $11,826
    NEWREZ LLC 4 3.87% $2,654
    PENNYMAC LOAN SERVICES, LLC 3 4.21% $5,419
    GUARANTEED RATE, INC. 3 5.08% $8,438
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 4.71% $7,820
    Johnson Bank 3 5.67% $6,731
    Mr. Cooper ( Nationstar Mortgage ) 3 5.83% $10,223
    WISCONSIN MORTGAGE CORPORATION 3 4.63% $4,233
    THOMPSON KANE & COMPANY, LLC 2 5.44% $9,523
    CARDINAL FINANCIAL 2 4.56% $6,133
    Paramount Residential Mortgage Group, Inc. 2 5.38% $8,572
    CALIBER HOME LOANS, INC. 2 5.50% $5,749
    Wells Fargo Bank 2 5.25% $4,093
    Prosperity Home Mortgage, LLC 2 6.19% $4,991
    Associated Bank 2 4.75% $4,596
    Flagstar Bank, FSB 2 3.75% $5,851
    VILLAGE CAPITAL MORTGAGE 2 4.00% $5,327
    Midwest Community Bank 1 3.38% $2,290
    Blackhawk Bank 1 5.25% $5,544
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $13,181
    MOVEMENT MORTGAGE, LLC 1 5.25% $3,411
    WRIGHT-PATT CREDIT UNION, INC. 1 3.00% $2,134
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.13% $9,288
    Bell Bank 1 5.25% $7,375
    Barrington Bank & Trust Company, N.A. 1 4.75% $8,860
    Bank of England 1 5.75% $9,772
    Old National Bank 1 3.25% $8,977
    AMERICAN INTERNET MORTGAGE, INC. 1 4.63% $2,025
    Plains Commerce Bank 1 2.63% $7,989
    Servion, Inc. 1 5.13% $14,094
    The Federal Savings Bank 1 3.75% $9,178
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.75% $9,013
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.13% $8,474
    U.S. Bank 1 3.38% $19,633
    CORNERSTONE HOME LENDING, INC. 1 4.75% $10,130
    CROSSCOUNTRY MORTGAGE, LLC 1 5.25% $9,696
    Colonial Savings, F.A. 1 4.88% $18,863
    Equity Prime Mortgage LLC 1 5.75% $8,487
    FINANCE OF AMERICA MORTGAGE LLC 1 3.63% $3,105
    CHERRY CREEK MORTGAGE, LLC 1 2.88% $1,450
    First Federal Bank 1 3.00% $4,793
    Century Mortgage Company DBA Century Lending Company 1 4.75% $3,215
    Waterstone Mortgage Corporation 1 5.63% $3,216
    HOME POINT FINANCIAL CORPORATION 1 4.13% $0
    HOMESIDE FINANCIAL, LLC 1 3.88% $3,255
    Key Mortgage Services, Inc. 1 5.25% $11,370
    BROKER SOLUTIONS, INC. 1 4.13% $3,207
    LOANPAL, LLC 1 5.00% $8,212

    The top Janesville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $8,015, which is $103 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Janesville VA lenders (with over 10 loans originated) are ENVOY MORTGAGE, LTD ($6,511), Mortgage Research Center, LLC ($8,015), QUICKEN LOANS, LLC ($8,118), .

    The lowest rate Janesville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.21%), ENVOY MORTGAGE, LTD (5.20%), Mortgage Research Center, LLC (5.48%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Janesville (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 $166,700 (19.6%) $211,242 (14.1%) 0.62 307
    2018-02-01 $160,950 (14.1%) $211,298 (11.9%) 0.59 279
    2018-03-01 $182,000 (19.4%) $228,367 (15.1%) 0.64 232
    2018-04-01 $187,200 (10.9%) $230,697 (7.5%) 0.63 243
    2018-05-01 $185,725 (9.7%) $230,335 (5.6%) 0.62 246
    2018-06-01 $200,000 (21.9%) $240,544 (9.7%) 0.67 278
    2018-07-01 $206,820 (20.0%) $243,855 (8.2%) 0.69 316
    2018-08-01 $209,900 (20.4%) $244,659 (8.9%) 0.70 404
    2018-09-01 $194,900 (13.5%) $235,537 (6.6%) 0.66 434
    2018-10-01 $192,475 (13.1%) $234,271 (5.6%) 0.65 440
    2018-11-01 $194,950 (11.1%) $242,010 (12.6%) 0.66 410
    2018-12-01 $184,950 (8.2%) $230,725 (7.6%) 0.64 378
    2019-01-01 $188,400 (12.6%) $237,935 (12.6%) 0.65 337
    2019-02-01 $189,950 (16.6%) $239,384 (13.3%) 0.64 288
    2019-03-01 $214,900 (14.6%) $250,479 (9.7%) 0.72 275
    2019-04-01 $220,610 (17.0%) $248,515 (7.7%) 0.70 301
    2019-05-01 $224,950 (20.7%) $256,006 (11.1%) 0.70 327
    2019-06-01 $225,000 (9.8%) $259,377 (7.8%) 0.70 313
    2019-07-01 $227,425 (8.4%) $258,880 (6.2%) 0.71 336
    2019-08-01 $224,950 (8.2%) $257,746 (5.4%) 0.71 342
    2019-09-01 $219,900 (14.5%) $260,090 (10.4%) 0.69 333
    2019-10-01 $217,800 (12.6%) $251,231 (7.2%) 0.70 402
    2019-11-01 $214,900 (10.3%) $245,742 (1.5%) 0.70 358
    2019-12-01 $214,900 (16.2%) $239,766 (3.9%) 0.72 335
    2020-01-01 $210,175 (11.8%) $237,395 (-0.2%) 0.70 312
    2020-02-01 $214,100 (13.1%) $241,836 (1.0%) 0.70 253
    2020-03-01 $214,950 (2.7%) $247,097 (-1.4%) 0.67 249
    2020-04-01 $218,900 (-0.1%) $239,060 (-3.8%) 0.69 267
    2020-05-01 $221,450 (0.0%) $247,752 (-3.2%) 0.67 241
    2020-06-01 $219,650 (-2.3%) $256,738 (-1.0%) 0.65 214
    2020-07-01 $229,900 (1.5%) $266,507 (3.0%) 0.67 200
    2020-08-01 $249,000 (10.0%) $277,667 (7.7%) 0.71 219
    2020-09-01 $219,825 (0.5%) $271,170 (4.3%) 0.63 206
    2020-10-01 $219,900 (-0.9%) $271,129 (7.9%) 0.63 208
    2020-11-01 $212,450 (-0.1%) $257,217 (4.7%) 0.62 209
    2020-12-01 $209,950 (0.6%) $252,631 (5.4%) 0.62 165
    2021-01-01 $225,950 (7.7%) $253,471 (6.8%) 0.67 136
    2021-02-01 $224,900 (4.7%) $257,910 (6.7%) 0.65 126
    2021-03-01 $228,950 (5.7%) $269,413 (9.0%) 0.65 102
    2021-04-01 $247,900 (11.2%) $291,762 (22.1%) 0.67 112
    2021-05-01 $229,000 (2.2%) $277,369 (12.0%) 0.61 139
    2021-06-01 $227,450 (2.9%) $274,625 (7.0%) 0.60 158
    2021-07-01 $229,900 (-0.4%) $271,777 (2.0%) 0.61 192
    2021-08-01 $229,950 (-8.0%) $265,220 (-4.5%) 0.61 217
    2021-09-01 $236,175 (5.4%) $268,981 (-0.8%) 0.63 242
    2021-10-01 $239,900 (10.3%) $273,005 (0.7%) 0.64 240
    2021-11-01 $236,925 (14.1%) $274,801 (6.8%) 0.63 208
    2021-12-01 $229,075 (9.6%) $276,391 (9.4%) 0.62 191
    2022-01-01 $249,900 (10.1%) $293,330 (15.7%) 0.68 152
    2022-02-01 $271,200 (23.4%) $318,967 (23.7%) 0.71 128
    2022-03-01 $274,450 (20.1%) $327,573 (21.6%) 0.69 134
    2022-04-01 $289,900 (18.9%) $323,972 (11.0%) 0.69 162
    2022-05-01 $289,900 (26.1%) $312,685 (12.7%) 0.66 183
    2022-06-01 $293,675 (30.8%) $323,993 (18.0%) 0.65 196
    2022-07-01 $289,950 (27.2%) $323,031 (18.9%) 0.66 232
    2022-08-01 $293,725 (29.6%) $332,440 (25.3%) 0.68 238
    2022-09-01 $298,175 (26.8%) $341,159 (26.8%) 0.70 236
    2022-10-01 $303,266 (28.5%) $340,815 (24.8%) 0.71 252
    2022-11-01 $298,125 (22.5%) $338,969 (23.4%) 0.72 252
    2022-12-01 $299,900 (26.6%) $347,040 (25.6%) 0.74 197
    2023-01-01 $301,250 (21.5%) $353,176 (20.4%) 0.75 163
    2023-02-01 $312,059 (12.7%) $356,737 (11.8%) 0.75 130
    2023-03-01 $330,750 (0.0%) $365,893 (11.7%) 0.78 132
    2023-04-01 $338,442 (0.0%) $365,765 (12.9%) 0.79 132
    Janesville's median listing price for 2023-04-01 was $338,442, a difference of $48,542 (0.0%) versus the prior year and $7,692 versus the prior month.

    Janesville's median listing price comes in at 79% of the national average.

    Janesville's average listing price for 2023-04-01 was $365,765, a difference of $41,793 (12.9%) versus the prior year and $-128 versus the prior month.

    For the 2023-04-01 period, Janesville had 132 MLS listings, a difference of 0 listings (0%) versus the prior month and -30 listings (-19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Janesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 1,651 sqft
    2018-02-01 84 days 1,634 sqft
    2018-03-01 61 days 1,675 sqft
    2018-04-01 41 days 1,731 sqft
    2018-05-01 38 days 1,745 sqft
    2018-06-01 41 days 1,787 sqft
    2018-07-01 39 days 1,793 sqft
    2018-08-01 38 days 1,771 sqft
    2018-09-01 43 days 1,756 sqft
    2018-10-01 50 days 1,724 sqft
    2018-11-01 54 days 1,729 sqft
    2018-12-01 69 days 1,653 sqft
    2019-01-01 80 days 1,690 sqft
    2019-02-01 89 days 1,730 sqft
    2019-03-01 68 days 1,750 sqft
    2019-04-01 54 days 1,803 sqft
    2019-05-01 48 days 1,834 sqft
    2019-06-01 47 days 1,831 sqft
    2019-07-01 44 days 1,855 sqft
    2019-08-01 49 days 1,837 sqft
    2019-09-01 55 days 1,825 sqft
    2019-10-01 54 days 1,853 sqft
    2019-11-01 66 days 1,803 sqft
    2019-12-01 73 days 1,770 sqft
    2020-01-01 76 days 1,735 sqft
    2020-02-01 76 days 1,718 sqft
    2020-03-01 63 days 1,737 sqft
    2020-04-01 52 days 1,745 sqft
    2020-05-01 56 days 1,770 sqft
    2020-06-01 66 days 1,793 sqft
    2020-07-01 59 days 1,784 sqft
    2020-08-01 49 days 1,850 sqft
    2020-09-01 48 days 1,802 sqft
    2020-10-01 41 days 1,784 sqft
    2020-11-01 46 days 1,731 sqft
    2020-12-01 51 days 1,686 sqft
    2021-01-01 55 days 1,683 sqft
    2021-02-01 43 days 1,632 sqft
    2021-03-01 40 days 1,701 sqft
    2021-04-01 29 days 1,757 sqft
    2021-05-01 29 days 1,754 sqft
    2021-06-01 33 days 1,696 sqft
    2021-07-01 34 days 1,701 sqft
    2021-08-01 30 days 1,699 sqft
    2021-09-01 31 days 1,675 sqft
    2021-10-01 37 days 1,633 sqft
    2021-11-01 45 days 1,633 sqft
    2021-12-01 53 days 1,606 sqft
    2022-01-01 58 days 1,665 sqft
    2022-02-01 57 days 1,777 sqft
    2022-03-01 25 days 1,772 sqft
    2022-04-01 31 days 1,784 sqft
    2022-05-01 36 days 1,729 sqft
    2022-06-01 39 days 1,755 sqft
    2022-07-01 34 days 1,772 sqft
    2022-08-01 44 days 1,784 sqft
    2022-09-01 49 days 1,784 sqft
    2022-10-01 46 days 1,784 sqft
    2022-11-01 47 days 1,799 sqft
    2022-12-01 57 days 1,825 sqft
    2023-01-01 73 days 1,813 sqft
    2023-02-01 58 days 1,836 sqft
    2023-03-01 38 days 1,844 sqft
    2023-04-01 40 days 1,810 sqft
    Janesville's median listing age (time on market) for 2023-04-01 was 40 days. This is 27% longer than the same period one year ago.

    Janesville's median square footage for active listings during the 2023-04-01 period was 1,810 sqft. One year prior, the average listing was 1,784 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.