Kalamazoo VA Loan Rates, Closing Costs & Stats

KALAMAZOO-PORTAGE, 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.

    Kalamazoo's 46 lenders originated 181 VA loans during 2023. The total origination value was $48,775,000, with an average VA loan value of $269,475.

    Kalamazoo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kalamazoo averaged 6.94% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Kalamazoo's average VA mortgage closing costs are $5,240.

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.94%.

    The average rate one year ago was 6.53%.

    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.

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 47 6.72% $5,778
    QUICKEN LOANS, LLC 15 6.39% $12,904
    UNITED WHOLESALE MORTGAGE, LLC 11 6.42% $8,404
    NAVY FEDERAL CREDIT UNION 9 5.61% $6,682
    FREEDOM MORTGAGE CORPORATION 9 6.61% $13,288
    USAA Federal Savings Bank 8 6.63% $8,503
    PENNYMAC LOAN SERVICES, LLC 5 5.13% $7,146
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.15% $5,316
    SUCCESS MORTGAGE PARTNERS, INC. 4 6.81% $10,371
    Fifth Third Bank 3 6.75% $1,960
    NEW DAY FINANCIAL, LLC 3 7.41% $13,959
    LAKE MICHIGAN CREDIT UNION 3 6.75% $7,428
    PENTAGON FEDERAL CREDIT UNION 3 5.79% $7,580
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.50% $7,613
    GUARANTEED RATE, INC. 3 6.37% $5,389
    GVC MORTGAGE, INC. 3 6.50% $13,594
    CONTOUR MORTGAGE CORPORATION 3 7.25% $9,386
    Neighborhood Loans, Inc. 3 7.12% $9,318
    LOANDEPOT.COM, LLC 2 5.25% $6,138
    VAN DYK MORTGAGE CORPORATION 2 6.38% $7,733
    UNION HOME MORTGAGE CORP. 2 6.44% $6,128
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $8,288
    The Huntington National Bank 1 6.75% $2,154
    TOP FLITE FINANCIAL, INC. 1 7.25% $1,754
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $4,823
    Waterstone Mortgage Corporation 1 7.50% $10,751
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $17,075
    Barrington Bank & Trust Company, N.A. 1 7.25% $6,189
    BROKER SOLUTIONS, INC. 1 6.00% $3,623
    Flagstar Bank, FSB 1 7.75% $9,719
    Horizon Bank 1 6.75% $3,069
    INSPIRE HOME LOANS INC. 1 5.50% $12,186
    Magnolia Bank 1 6.88% $16,407
    MICHIGAN MUTUAL, INC. 1 6.63% $3,749
    Mid-Continent Funding, Inc. 1 6.99% $7,239
    MORTGAGE CENTER L.C 1 6.63% $5,542
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $11,180
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $10,330
    NBKC BANK 1 6.25% $7,865
    NEWREZ LLC 1 6.25% $12,365
    Pacor Mortgage Corp 1 6.13% $9,700
    Plains Commerce Bank 1 6.75% $9,962
    PLANET HOME LENDING, LLC 1 5.99% $6,658
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $8,373
    ROSS MORTGAGE CORPORATION 1 8.13% $10,764
    RUOFF MORTGAGE COMPANY, INC. 1 6.63% $0

    The top Kalamazoo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 47 VA loans originated. Their average total fees are $5,778, which is $7,126 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Kalamazoo VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,778), UNITED WHOLESALE MORTGAGE, LLC ($8,404), QUICKEN LOANS, LLC ($12,904), .

    The lowest rate Kalamazoo VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.39%), UNITED WHOLESALE MORTGAGE, LLC (6.42%), Mortgage Research Center, LLC (6.72%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kalamazoo (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 $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%) $290,390 (0.1%) 0.78 786
    2018-11-01 $227,750 (13.9%) $293,915 (3.6%) 0.77 743
    2018-12-01 $229,000 (14.6%) $293,938 (5.3%) 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%) $330,046 (1.6%) 0.84 509
    2019-04-01 $279,900 (4.1%) $350,467 (2.9%) 0.89 520
    2019-05-01 $290,950 (4.0%) $358,659 (5.5%) 0.91 533
    2019-06-01 $274,900 (0.7%) $353,251 (5.2%) 0.86 614
    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 (6.9%) 0.77 795
    2019-11-01 $234,900 (3.1%) $299,324 (1.8%) 0.77 739
    2019-12-01 $229,900 (0.4%) $297,442 (1.2%) 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 $282,400 (10.2%) $339,719 (2.9%) 0.89 493
    2020-04-01 $289,900 (3.6%) $345,670 (-1.4%) 0.91 490
    2020-05-01 $299,953 (3.1%) $369,309 (3.0%) 0.91 501
    2020-06-01 $312,975 (13.9%) $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 $284,900 (23.9%) $352,941 (16.8%) 0.85 263
    2021-02-01 $307,500 (23.3%) $368,558 (19.5%) 0.90 226
    2021-03-01 $325,725 (15.3%) $379,405 (11.7%) 0.92 213
    2021-04-01 $333,423 (15.0%) $389,711 (12.7%) 0.90 212
    2021-05-01 $338,950 (13.0%) $379,376 (2.7%) 0.90 234
    2021-06-01 $314,950 (0.6%) $362,239 (-4.2%) 0.83 258
    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 (-4.9%) $350,880 (-0.6%) 0.73 146
    2022-02-01 $307,400 (0.0%) $366,488 (-0.6%) 0.80 146
    2022-03-01 $299,700 (-8.0%) $369,024 (-2.7%) 0.75 152
    2022-04-01 $329,000 (-1.3%) $399,888 (2.6%) 0.78 160
    2022-05-01 $303,704 (-10.4%) $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%) 0.70 317
    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%) $396,431 (7.4%) 0.69 227
    2023-04-01 $345,000 (4.9%) $444,260 (11.1%) 0.80 217
    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%) $419,292 (4.0%) 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
    2023-12-01 $284,900 (3.6%) $373,529 (4.6%) 0.69 370
    2024-01-01 $294,975 (-0.3%) $378,359 (-0.9%) 0.72 331
    2024-02-01 $329,900 (8.3%) $419,764 (6.7%) 0.79 308
    2024-03-01 $350,000 (18.9%) $442,967 (11.7%) 0.82 301
    Kalamazoo's median listing price for 2024-03-01 was $350,000, a difference of $55,500 (18.9%) versus the prior year and $20,100 versus the prior month.

    Kalamazoo's median listing price comes in at 82% of the national average.

    Kalamazoo's average listing price for 2024-03-01 was $442,967, a difference of $46,536 (11.7%) versus the prior year and $23,203 versus the prior month.

    For the 2024-03-01 period, Kalamazoo had 301 MLS listings, a difference of -7 listings (-2%) versus the prior month and 74 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kalamazoo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 2,050 sqft
    2018-11-01 50 days 1,994 sqft
    2018-12-01 59 days 2,012 sqft
    2019-01-01 66 days 1,940 sqft
    2019-02-01 57 days 1,922 sqft
    2019-03-01 46 days 2,061 sqft
    2019-04-01 36 days 2,180 sqft
    2019-05-01 32 days 2,254 sqft
    2019-06-01 31 days 2,221 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 46 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 2,068 sqft
    2020-04-01 56 days 2,084 sqft
    2020-05-01 65 days 2,197 sqft
    2020-06-01 44 days 2,304 sqft
    2020-07-01 45 days 2,194 sqft
    2020-08-01 46 days 2,230 sqft
    2020-09-01 46 days 2,087 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 1,894 sqft
    2021-02-01 51 days 1,876 sqft
    2021-03-01 45 days 1,975 sqft
    2021-04-01 38 days 1,996 sqft
    2021-05-01 30 days 2,003 sqft
    2021-06-01 33 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 1,803 sqft
    2023-02-01 42 days 1,780 sqft
    2023-03-01 44 days 1,741 sqft
    2023-04-01 44 days 1,860 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 1,840 sqft
    2023-10-01 44 days 1,827 sqft
    2023-11-01 38 days 1,802 sqft
    2023-12-01 49 days 1,782 sqft
    2024-01-01 65 days 1,779 sqft
    2024-02-01 52 days 1,828 sqft
    2024-03-01 45 days 1,904 sqft
    Kalamazoo's median listing age (time on market) for 2024-03-01 was 45 days. This is 2% longer than the same period one year ago.

    Kalamazoo's median square footage for active listings during the 2024-03-01 period was 1,904 sqft. One year prior, the average listing was 1,741 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.