Kalamazoo VA Loan Rates, Closing Costs & Stats
KALAMAZOO-PORTAGE, 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.
Kalamazoo's 60 lenders originated 229 VA loans during 2022. The total origination value was $57,405,000, with an average VA loan value of $250,677.
Kalamazoo VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Kalamazoo
averaged
6.72%
for the week of 2023-12-08, compared to the national average (all VA variants) of
6.544% for the same period.
Kalamazoo's average VA mortgage closing costs are $4,977.
The average rate for the prior week (2023-12-01) was
6.72% and
one month ago for the week of 2023-11-03, the
average rate was 7.46%.
The average rate one year ago was 6.13%.
For refis of the same type during the week of 2023-12-08, the average rate
was 5.64%.
Kalamazoo 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 Kalamazoo level.
The top Kalamazoo VA lender as defined by loan originations is Mortgage Research Center, LLC, with
40 VA loans originated. Their average total fees are
$7,192, which is $222
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Kalamazoo VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($5,515), UNITED WHOLESALE MORTGAGE, LLC ($6,971), Mortgage Research Center, LLC ($7,192), QUICKEN LOANS, LLC ($8,122) and SUCCESS MORTGAGE PARTNERS, INC. ($11,637).
The lowest rate Kalamazoo VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION (4.20%), QUICKEN LOANS, LLC (4.50%), Mortgage Research Center, LLC (5.17%), UNITED WHOLESALE MORTGAGE, LLC (5.17%) and SUCCESS MORTGAGE PARTNERS, INC. (5.21%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Kalamazoo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $196,250 (-2.6%) | $273,353 (-12.6%) | 0.73 | 550 |
2018-02-01 | $207,225 (-14.7%) | $282,733 (-15.2%) | 0.75 | 502 |
2018-03-01 | $240,000 (-5.3%) | $324,828 (-6.2%) | 0.84 | 469 |
2018-04-01 | $268,950 (-0.4%) | $340,615 (-3.6%) | 0.91 | 476 |
2018-05-01 | $279,900 (9.8%) | $339,984 (1.3%) | 0.93 | 526 |
2018-06-01 | $272,875 (13.7%) | $335,654 (7.2%) | 0.91 | 581 |
2018-07-01 | $253,900 (6.2%) | $319,017 (2.3%) | 0.85 | 623 |
2018-08-01 | $239,900 (6.7%) | $305,566 (2.8%) | 0.80 | 712 |
2018-09-01 | $230,000 (7.0%) | $292,594 (0.6%) | 0.77 | 768 |
2018-10-01 | $229,900 (7.0%) | $292,045 (0.7%) | 0.78 | 787 |
2018-11-01 | $228,250 (14.2%) | $296,898 (4.7%) | 0.77 | 744 |
2018-12-01 | $229,000 (14.6%) | $295,655 (5.9%) | 0.79 | 654 |
2019-01-01 | $224,900 (14.6%) | $294,463 (7.7%) | 0.78 | 593 |
2019-02-01 | $229,450 (10.7%) | $307,876 (8.9%) | 0.78 | 528 |
2019-03-01 | $256,214 (6.8%) | $331,709 (2.1%) | 0.84 | 510 |
2019-04-01 | $279,900 (4.1%) | $354,322 (4.0%) | 0.89 | 521 |
2019-05-01 | $291,325 (4.1%) | $362,341 (6.6%) | 0.91 | 534 |
2019-06-01 | $274,950 (0.8%) | $353,251 (5.2%) | 0.86 | 615 |
2019-07-01 | $260,600 (2.6%) | $338,074 (6.0%) | 0.82 | 663 |
2019-08-01 | $247,245 (3.1%) | $326,168 (6.7%) | 0.78 | 725 |
2019-09-01 | $243,114 (5.7%) | $317,702 (8.6%) | 0.78 | 770 |
2019-10-01 | $239,900 (4.4%) | $310,276 (6.2%) | 0.77 | 795 |
2019-11-01 | $234,900 (2.9%) | $299,324 (0.8%) | 0.77 | 739 |
2019-12-01 | $229,900 (0.4%) | $297,442 (0.6%) | 0.77 | 641 |
2020-01-01 | $230,000 (2.3%) | $302,260 (2.7%) | 0.77 | 572 |
2020-02-01 | $249,500 (8.7%) | $308,496 (0.2%) | 0.82 | 541 |
2020-03-01 | $281,150 (9.7%) | $339,347 (2.3%) | 0.88 | 494 |
2020-04-01 | $289,900 (3.6%) | $345,472 (-2.5%) | 0.91 | 491 |
2020-05-01 | $299,953 (3.0%) | $369,309 (1.9%) | 0.91 | 501 |
2020-06-01 | $312,975 (13.8%) | $377,930 (7.0%) | 0.92 | 483 |
2020-07-01 | $297,700 (14.2%) | $365,692 (8.2%) | 0.86 | 471 |
2020-08-01 | $297,250 (20.2%) | $353,736 (8.5%) | 0.85 | 446 |
2020-09-01 | $289,894 (19.2%) | $345,386 (8.7%) | 0.83 | 422 |
2020-10-01 | $299,000 (24.6%) | $349,504 (12.6%) | 0.86 | 395 |
2020-11-01 | $301,975 (28.6%) | $358,872 (19.9%) | 0.88 | 369 |
2020-12-01 | $296,740 (29.1%) | $352,676 (18.6%) | 0.88 | 321 |
2021-01-01 | $286,950 (24.8%) | $353,740 (17.0%) | 0.86 | 264 |
2021-02-01 | $307,750 (23.4%) | $369,472 (19.8%) | 0.90 | 227 |
2021-03-01 | $327,450 (16.5%) | $380,188 (12.0%) | 0.93 | 214 |
2021-04-01 | $334,845 (15.5%) | $390,657 (13.1%) | 0.91 | 213 |
2021-05-01 | $340,000 (13.4%) | $379,376 (2.7%) | 0.90 | 235 |
2021-06-01 | $314,975 (0.6%) | $362,478 (-4.1%) | 0.83 | 259 |
2021-07-01 | $298,444 (0.3%) | $349,615 (-4.4%) | 0.79 | 298 |
2021-08-01 | $293,475 (-1.3%) | $358,530 (1.4%) | 0.78 | 326 |
2021-09-01 | $281,250 (-3.0%) | $356,149 (3.1%) | 0.75 | 328 |
2021-10-01 | $279,900 (-6.4%) | $361,308 (3.4%) | 0.75 | 320 |
2021-11-01 | $270,200 (-10.5%) | $357,492 (-0.4%) | 0.72 | 293 |
2021-12-01 | $258,450 (-12.9%) | $345,859 (-1.9%) | 0.70 | 219 |
2022-01-01 | $271,000 (-5.6%) | $350,880 (-0.8%) | 0.73 | 146 |
2022-02-01 | $307,400 (-0.1%) | $366,488 (-0.8%) | 0.80 | 146 |
2022-03-01 | $299,700 (-8.5%) | $369,024 (-2.9%) | 0.75 | 152 |
2022-04-01 | $329,000 (-1.8%) | $399,888 (2.4%) | 0.78 | 160 |
2022-05-01 | $303,704 (-10.7%) | $411,225 (8.4%) | 0.69 | 210 |
2022-06-01 | $326,225 (3.6%) | $418,185 (15.4%) | 0.73 | 255 |
2022-07-01 | $310,000 (3.9%) | $403,187 (15.3%) | 0.70 | 318 |
2022-08-01 | $291,250 (-0.8%) | $384,345 (7.2%) | 0.67 | 364 |
2022-09-01 | $295,000 (4.9%) | $382,339 (7.4%) | 0.69 | 339 |
2022-10-01 | $288,250 (3.0%) | $379,030 (4.9%) | 0.68 | 389 |
2022-11-01 | $279,945 (3.6%) | $359,967 (0.7%) | 0.67 | 397 |
2022-12-01 | $275,000 (6.4%) | $357,273 (3.3%) | 0.68 | 333 |
2023-01-01 | $295,993 (9.2%) | $381,584 (8.8%) | 0.73 | 276 |
2023-02-01 | $304,700 (-0.9%) | $393,334 (7.3%) | 0.74 | 252 |
2023-03-01 | $294,500 (-1.7%) | $396,738 (7.5%) | 0.69 | 227 |
2023-04-01 | $345,000 (4.9%) | $449,114 (12.3%) | 0.80 | 223 |
2023-05-01 | $334,900 (10.3%) | $429,679 (4.5%) | 0.76 | 249 |
2023-06-01 | $331,627 (1.7%) | $421,615 (0.8%) | 0.75 | 296 |
2023-07-01 | $325,000 (4.8%) | $420,275 (4.2%) | 0.74 | 326 |
2023-08-01 | $318,900 (9.5%) | $401,405 (4.4%) | 0.73 | 344 |
2023-09-01 | $309,990 (5.1%) | $401,248 (5.0%) | 0.72 | 359 |
2023-10-01 | $304,450 (5.6%) | $387,580 (2.3%) | 0.72 | 367 |
2023-11-01 | $289,150 (3.3%) | $372,287 (3.4%) | 0.69 | 383 |
Kalamazoo's median listing price comes in at 69% of the national average.
Kalamazoo's average listing price for 2023-11-01 was $372,287, a difference of $12,320 (3.4%) versus the prior year and $-15,293 versus the prior month.
For the 2023-11-01 period, Kalamazoo had 383 MLS listings, a difference of 16 listings (4%) versus the prior month and -14 listings (-4%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Kalamazoo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 68 days | 1,902 sqft |
2018-02-01 | 61 days | 1,951 sqft |
2018-03-01 | 44 days | 2,100 sqft |
2018-04-01 | 38 days | 2,253 sqft |
2018-05-01 | 31 days | 2,356 sqft |
2018-06-01 | 32 days | 2,291 sqft |
2018-07-01 | 36 days | 2,238 sqft |
2018-08-01 | 32 days | 2,142 sqft |
2018-09-01 | 39 days | 2,121 sqft |
2018-10-01 | 45 days | 2,052 sqft |
2018-11-01 | 50 days | 1,997 sqft |
2018-12-01 | 59 days | 2,012 sqft |
2019-01-01 | 66 days | 1,944 sqft |
2019-02-01 | 57 days | 1,923 sqft |
2019-03-01 | 46 days | 2,063 sqft |
2019-04-01 | 36 days | 2,180 sqft |
2019-05-01 | 32 days | 2,256 sqft |
2019-06-01 | 31 days | 2,224 sqft |
2019-07-01 | 34 days | 2,197 sqft |
2019-08-01 | 39 days | 2,119 sqft |
2019-09-01 | 41 days | 2,097 sqft |
2019-10-01 | 42 days | 2,076 sqft |
2019-11-01 | 45 days | 2,048 sqft |
2019-12-01 | 62 days | 2,002 sqft |
2020-01-01 | 70 days | 2,004 sqft |
2020-02-01 | 62 days | 1,983 sqft |
2020-03-01 | 50 days | 2,064 sqft |
2020-04-01 | 56 days | 2,078 sqft |
2020-05-01 | 65 days | 2,196 sqft |
2020-06-01 | 44 days | 2,300 sqft |
2020-07-01 | 45 days | 2,193 sqft |
2020-08-01 | 46 days | 2,227 sqft |
2020-09-01 | 46 days | 2,085 sqft |
2020-10-01 | 44 days | 2,075 sqft |
2020-11-01 | 47 days | 2,075 sqft |
2020-12-01 | 55 days | 2,060 sqft |
2021-01-01 | 58 days | 1,900 sqft |
2021-02-01 | 51 days | 1,887 sqft |
2021-03-01 | 45 days | 1,980 sqft |
2021-04-01 | 38 days | 2,008 sqft |
2021-05-01 | 30 days | 2,005 sqft |
2021-06-01 | 32 days | 2,048 sqft |
2021-07-01 | 32 days | 1,988 sqft |
2021-08-01 | 34 days | 2,014 sqft |
2021-09-01 | 39 days | 1,965 sqft |
2021-10-01 | 39 days | 1,904 sqft |
2021-11-01 | 43 days | 1,880 sqft |
2021-12-01 | 48 days | 1,770 sqft |
2022-01-01 | 55 days | 1,800 sqft |
2022-02-01 | 33 days | 1,834 sqft |
2022-03-01 | 31 days | 1,809 sqft |
2022-04-01 | 32 days | 1,811 sqft |
2022-05-01 | 25 days | 1,849 sqft |
2022-06-01 | 28 days | 1,898 sqft |
2022-07-01 | 31 days | 1,873 sqft |
2022-08-01 | 33 days | 1,939 sqft |
2022-09-01 | 42 days | 1,976 sqft |
2022-10-01 | 39 days | 1,905 sqft |
2022-11-01 | 41 days | 1,880 sqft |
2022-12-01 | 54 days | 1,794 sqft |
2023-01-01 | 52 days | 1,805 sqft |
2023-02-01 | 42 days | 1,780 sqft |
2023-03-01 | 44 days | 1,741 sqft |
2023-04-01 | 44 days | 1,855 sqft |
2023-05-01 | 33 days | 1,842 sqft |
2023-06-01 | 33 days | 1,835 sqft |
2023-07-01 | 37 days | 1,832 sqft |
2023-08-01 | 35 days | 1,851 sqft |
2023-09-01 | 39 days | 1,836 sqft |
2023-10-01 | 44 days | 1,827 sqft |
2023-11-01 | 38 days | 1,802 sqft |
Kalamazoo's median square footage for active listings during the 2023-11-01 period was 1,802 sqft. One year prior, the average listing was 1,880 sqft.