Kalamazoo VA Loans

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 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 82 lenders originated 527 VA loans during 2021. The total origination value was $117,605,000, with an average VA loan value of $223,159.

Kalamazoo VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Kalamazoo averaged 5.48% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

The average rate for the prior week (2022-05-13) was 5.79% and one month ago for the week of 2022-04-15, the average rate was 5.35%.

The average rate one year ago was 3.14%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.49%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kalamazoo level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 67 2.91% $4,310
QUICKEN LOANS, LLC 66 2.48% $4,249
FREEDOM MORTGAGE CORPORATION 29 2.63% $2,105
UNITED WHOLESALE MORTGAGE, LLC 25 2.50% $5,238
AMERIFIRST FINANCIAL CORPORATION 17 3.19% $5,952
PENNYMAC LOAN SERVICES, LLC 16 2.67% $3,954
USAA Federal Savings Bank 15 2.74% $2,914
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 3.05% $7,736
VILLAGE CAPITAL & INVESTMENT LLC 11 2.58% $2,972
NAVY FEDERAL CREDIT UNION 11 2.63% $3,094
NEW DAY FINANCIAL, LLC 11 3.03% $7,052
SUCCESS MORTGAGE PARTNERS, INC. 11 3.02% $7,316
LAKE MICHIGAN CREDIT UNION 10 2.76% $6,306
Flagstar Bank, FSB 10 2.63% $3,747
Fifth Third Bank 10 2.88% $6,241
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 3.28% $4,051
CALIBER HOME LOANS, INC. 9 2.57% $4,396
Mr. Cooper ( Nationstar Mortgage ) 7 2.82% $2,524
PNC Bank 6 2.67% $6,344
MORTGAGE CENTER L.C 6 2.71% $5,178
CLEARPATH LENDING 5 2.45% $3,426
SUMMIT HOME MORTGAGE, LLC 5 3.15% $5,141
AMERISAVE MORTGAGE CORPORATION 5 2.73% $3,774
LAKEVIEW LOAN SERVICING, LLC 4 2.50% $1,605
NEWREZ LLC 4 2.90% $1,741
HOME POINT FINANCIAL CORPORATION 4 2.59% $5,647
PENTAGON FEDERAL CREDIT UNION 4 2.38% $3,889
CONTOUR MORTGAGE CORPORATION 4 3.25% $11,660
UNION HOME MORTGAGE CORP. 4 3.25% $10,020
Wells Fargo Bank 4 2.59% $5,031
ACCELERATE MORTGAGE, LLC 4 2.50% $5,877
Low VA Rates, LLC 3 2.67% $3,787
RUOFF MORTGAGE COMPANY, INC. 3 3.04% $6,272
The Federal Savings Bank 3 2.46% $5,850
AMERICAN FINANCIAL NETWORK, INC. 2 2.25% $11,146
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.75% $1,704
NORTHERN MORTGAGE SERVICES, LLC 2 2.69% $3,285
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.06% $3,767
GUARANTEED RATE AFFINITY, LLC 2 2.25% $8,226
CROSSCOUNTRY MORTGAGE, LLC 2 2.38% $11,474
BNC National Bank 2 2.31% $907
Citizens Bank 2 2.50% $9,532
Horizon Bank 2 2.94% $12,401
ZILLOW HOME LOANS, LLC 1 2.88% $10,908
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.75% $2,833
Ameris Bank 1 2.88% $3,275
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.25% $4,216
Carrington Mortgage Services, LLC 1 3.63% $1,459
CHERRY CREEK MORTGAGE, LLC 1 2.38% $132
CHURCHILL MORTGAGE CORPORATION 1 2.75% $6,125
FINANCE OF AMERICA MORTGAGE LLC 1 4.75% $2,287
First Guaranty Mortgage Corporation 1 3.25% $1,978
GUARANTEED RATE, INC. 1 2.25% $2,593
HOMESIDE FINANCIAL, LLC 1 2.50% $2,868
Hometown Equity Mortgage, LLC 1 2.88% $1,203
Independent Bank 1 2.88% $15,227
InterContinental Capital Group, Inc 1 2.25% $2,027
KELLER MORTGAGE, LLC 1 2.75% $11,952
Manufacturers and Traders Trust Company 1 2.75% $10,356
Meridian Bank Corporation 1 2.38% $3,024
MICHIGAN MUTUAL, INC. 1 3.13% $5,563
MOVEMENT MORTGAGE, LLC 1 3.88% $1,055
NATIONS DIRECT MORTGAGE, LLC 1 2.25% $2,657
NBH Bank 1 2.50% $622
NBKC BANK 1 2.25% $862
Neighborhood Loans, Inc. 1 3.38% $14,867
NETWORK CAPITAL FUNDING CORPORATION 1 3.63% $6,947
North American Savings Bank, F.S.B. 1 2.25% $5,376
Northpointe Bank 1 2.88% $17,015
Pacor Mortgage Corp 1 2.75% $5,042
PLANET HOME LENDING, LLC 1 2.38% $3,532
PLAZA HOME MORTGAGE, INC. 1 2.75% $5,042
PREMIA MORTGAGE, LLC 1 2.50% $17,964
SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $3,469
STEARNS LENDING, LLC 1 2.25% $1,870
Strong Home Mortgage, LLC 1 2.50% $2,215
TCF National Bank 1 2.50% $1,285
The Huntington National Bank 1 3.13% $574
TIAA, FSB 1 2.75% $3,673
UNITED HOME LOANS, INC. 1 2.88% $3,611
VAN DYK MORTGAGE CORPORATION 1 2.63% $2,760
Wyndham Capital Mortgage, Inc. 1 2.25% $7,410

The top Kalamazoo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 67 VA loans originated. Their average total fees are $4,310, which is $61 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Kalamazoo VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,105), USAA Federal Savings Bank ($2,914), VILLAGE CAPITAL & INVESTMENT LLC ($2,972), NAVY FEDERAL CREDIT UNION ($3,094) and Flagstar Bank, FSB ($3,747).

The lowest rate Kalamazoo VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.48%), UNITED WHOLESALE MORTGAGE, LLC (2.50%), VILLAGE CAPITAL & INVESTMENT LLC (2.58%), NAVY FEDERAL CREDIT UNION (2.63%) and Flagstar Bank, FSB (2.63%).


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 $209,950 (-0.6%) $327,507 (-11.9%) 0.77 879
2018-02-01 $219,950 (-8.3%) $338,683 (-13.5%) 0.79 817
2018-03-01 $249,900 (-1.8%) $383,024 (-5.6%) 0.86 790
2018-04-01 $269,900 (2.3%) $391,380 (-3.0%) 0.91 798
2018-05-01 $282,492 (8.9%) $395,937 (4.6%) 0.94 888
2018-06-01 $275,000 (11.8%) $389,904 (9.8%) 0.92 1,000
2018-07-01 $263,250 (7.5%) $363,615 (3.5%) 0.88 1,055
2018-08-01 $249,900 (8.7%) $351,571 (4.8%) 0.84 1,161
2018-09-01 $235,900 (4.8%) $330,534 (-1.7%) 0.79 1,247
2018-10-01 $238,000 (7.0%) $326,296 (-2.8%) 0.80 1,239
2018-11-01 $239,450 (9.1%) $331,759 (-0.1%) 0.80 1,168
2018-12-01 $235,000 (7.4%) $325,325 (-0.5%) 0.80 1,052
2019-01-01 $229,500 (9.3%) $324,441 (-0.9%) 0.79 954
2019-02-01 $236,650 (7.6%) $342,335 (1.1%) 0.79 888
2019-03-01 $258,243 (3.3%) $365,670 (-4.5%) 0.84 877
2019-04-01 $281,200 (4.2%) $382,221 (-2.3%) 0.89 896
2019-05-01 $290,500 (2.8%) $387,774 (-2.1%) 0.90 924
2019-06-01 $284,900 (3.6%) $380,036 (-2.5%) 0.88 1,039
2019-07-01 $274,950 (4.4%) $373,463 (2.7%) 0.85 1,112
2019-08-01 $261,371 (4.6%) $361,428 (2.8%) 0.82 1,160
2019-09-01 $250,000 (6.0%) $348,183 (5.3%) 0.79 1,211
2019-10-01 $249,950 (5.0%) $343,927 (5.4%) 0.80 1,249
2019-11-01 $245,000 (2.3%) $335,630 (1.2%) 0.79 1,150
2019-12-01 $244,150 (3.9%) $333,621 (2.6%) 0.81 994
2020-01-01 $245,000 (6.8%) $331,583 (2.2%) 0.82 873
2020-02-01 $259,900 (9.8%) $345,058 (0.8%) 0.84 879
2020-03-01 $290,950 (12.7%) $378,056 (3.4%) 0.91 794
2020-04-01 $289,900 (3.1%) $377,856 (-1.1%) 0.90 778
2020-05-01 $299,900 (3.2%) $405,429 (4.6%) 0.91 825
2020-06-01 $314,900 (10.5%) $413,841 (8.9%) 0.92 760
2020-07-01 $299,900 (9.1%) $405,981 (8.7%) 0.86 718
2020-08-01 $299,900 (14.7%) $396,411 (9.7%) 0.86 660
2020-09-01 $297,450 (19.0%) $388,990 (11.7%) 0.85 615
2020-10-01 $299,900 (20.0%) $399,660 (16.2%) 0.86 584
2020-11-01 $299,900 (22.4%) $404,541 (20.5%) 0.86 556
2020-12-01 $287,200 (17.6%) $392,368 (17.6%) 0.84 481
2021-01-01 $284,900 (16.3%) $397,667 (19.9%) 0.84 402
2021-02-01 $302,450 (16.4%) $412,288 (19.5%) 0.87 353
2021-03-01 $329,450 (13.2%) $440,081 (16.4%) 0.92 331
2021-04-01 $337,500 (16.4%) $444,114 (17.5%) 0.91 313
2021-05-01 $349,900 (16.7%) $442,101 (9.0%) 0.92 359
2021-06-01 $329,450 (4.6%) $434,902 (5.1%) 0.86 396
2021-07-01 $307,450 (2.5%) $417,756 (2.9%) 0.80 464
2021-08-01 $302,500 (0.9%) $410,964 (3.7%) 0.80 507
2021-09-01 $299,450 (0.7%) $404,821 (4.1%) 0.79 509
2021-10-01 $290,000 (-3.3%) $409,932 (2.6%) 0.76 483
2021-11-01 $277,450 (-7.5%) $391,015 (-3.3%) 0.73 427
2021-12-01 $269,900 (-6.0%) $388,878 (-0.9%) 0.72 343
2022-01-01 $279,900 (-1.8%) $407,399 (2.5%) 0.75 244
2022-02-01 $297,400 (-1.7%) $418,132 (1.4%) 0.76 221
2022-03-01 $317,450 (-3.6%) $438,575 (-0.3%) 0.78 237
2022-04-01 $329,900 (-2.3%) $459,937 (3.6%) 0.78 263
Kalamazoo's median listing price for 2022-04-01 was $329,900, a difference of $-7,600 (-2.3%) versus the prior year and $12,450 versus the prior month.

Kalamazoo's median listing price comes in at 78% of the national average.

Kalamazoo's average listing price for 2022-04-01 was $459,937, a difference of $15,823 (3.6%) versus the prior year and $21,362 versus the prior month.

For the 2022-04-01 period, Kalamazoo had 263 MLS listings, a difference of 26 listings (11%) versus the prior month and -50 listings (-16%) 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 86 days 1,858 sqft
2018-02-01 85 days 1,843 sqft
2018-03-01 62 days 1,956 sqft
2018-04-01 53 days 2,072 sqft
2018-05-01 48 days 2,149 sqft
2018-06-01 45 days 2,107 sqft
2018-07-01 48 days 2,070 sqft
2018-08-01 48 days 2,040 sqft
2018-09-01 51 days 2,008 sqft
2018-10-01 57 days 1,996 sqft
2018-11-01 63 days 1,947 sqft
2018-12-01 73 days 1,932 sqft
2019-01-01 78 days 1,885 sqft
2019-02-01 78 days 1,873 sqft
2019-03-01 63 days 1,969 sqft
2019-04-01 48 days 2,050 sqft
2019-05-01 45 days 2,057 sqft
2019-06-01 46 days 2,060 sqft
2019-07-01 47 days 2,066 sqft
2019-08-01 49 days 2,038 sqft
2019-09-01 50 days 2,021 sqft
2019-10-01 54 days 2,016 sqft
2019-11-01 58 days 1,975 sqft
2019-12-01 72 days 1,937 sqft
2020-01-01 84 days 1,928 sqft
2020-02-01 80 days 1,899 sqft
2020-03-01 59 days 1,977 sqft
2020-04-01 68 days 2,006 sqft
2020-05-01 74 days 2,044 sqft
2020-06-01 60 days 2,078 sqft
2020-07-01 54 days 2,069 sqft
2020-08-01 52 days 2,100 sqft
2020-09-01 52 days 2,078 sqft
2020-10-01 52 days 2,075 sqft
2020-11-01 52 days 2,058 sqft
2020-12-01 61 days 1,985 sqft
2021-01-01 69 days 1,924 sqft
2021-02-01 63 days 1,865 sqft
2021-03-01 53 days 1,983 sqft
2021-04-01 48 days 1,972 sqft
2021-05-01 39 days 2,007 sqft
2021-06-01 38 days 2,056 sqft
2021-07-01 38 days 1,959 sqft
2021-08-01 39 days 1,965 sqft
2021-09-01 43 days 1,913 sqft
2021-10-01 46 days 1,946 sqft
2021-11-01 51 days 1,852 sqft
2021-12-01 54 days 1,849 sqft
2022-01-01 63 days 1,866 sqft
2022-02-01 48 days 1,879 sqft
2022-03-01 37 days 1,863 sqft
2022-04-01 38 days 1,870 sqft
Kalamazoo's median listing age (time on market) for 2022-04-01 was 38 days. This is -21% shorter than the same period one year ago.

Kalamazoo's median square footage for active listings during the 2022-04-01 period was 1,870 sqft. One year prior, the average listing was 1,972 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.