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 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 6.49% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Kalamazoo's average VA mortgage closing costs are $4,977.

    The average rate for the prior week (2023-05-19) was 6.31% and one month ago for the week of 2023-04-21, the average rate was 6.23%.

    The average rate one year ago was 5.1%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.4%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 40 5.17% $7,192
    UNITED WHOLESALE MORTGAGE, LLC 20 5.17% $6,971
    QUICKEN LOANS, LLC 14 4.50% $8,122
    NAVY FEDERAL CREDIT UNION 13 4.20% $5,515
    SUCCESS MORTGAGE PARTNERS, INC. 11 5.21% $11,637
    Flagstar Bank, FSB 9 4.44% $5,952
    AMERIFIRST FINANCIAL CORPORATION 8 5.39% $4,988
    FREEDOM MORTGAGE CORPORATION 7 3.64% $4,924
    PENNYMAC LOAN SERVICES, LLC 6 3.10% $7,012
    NEWREZ LLC 6 4.46% $4,418
    USAA Federal Savings Bank 6 4.50% $9,092
    NEW DAY FINANCIAL, LLC 5 5.30% $7,586
    CALIBER HOME LOANS, INC. 5 4.42% $8,256
    LAKE MICHIGAN CREDIT UNION 4 4.31% $9,229
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.92% $7,031
    Fifth Third Bank 3 4.38% $6,911
    LAKEVIEW LOAN SERVICING, LLC 3 3.16% $3,370
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.92% $5,383
    LOANDEPOT.COM, LLC 3 3.20% $10,073
    CONTOUR MORTGAGE CORPORATION 3 5.54% $8,088
    The Huntington National Bank 2 4.38% $6,820
    Hometown Lenders, Inc. 2 4.44% $3,434
    UNION HOME MORTGAGE CORP. 2 5.06% $7,832
    Neighborhood Loans, Inc. 2 5.38% $11,432
    Northpointe Bank 2 4.50% $8,767
    GUARANTEED RATE, INC. 2 5.50% $4,323
    CROSSCOUNTRY MORTGAGE, LLC 2 6.63% $5,551
    SUMMIT HOME MORTGAGE, LLC 1 5.75% $5,775
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $9,612
    The Federal Savings Bank 1 4.75% $18,314
    TOP FLITE FINANCIAL, INC. 1 3.25% $5,918
    VAN DYK MORTGAGE CORPORATION 1 5.25% $3,517
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.00% $2,098
    Wells Fargo Bank 1 3.25% $2,932
    AMERICAN INTERNET MORTGAGE, INC. 1 2.38% $625
    AMERISAVE MORTGAGE CORPORATION 1 3.75% $5,970
    Barrington Bank & Trust Company, N.A. 1 5.08% $11,796
    CHURCHILL MORTGAGE CORPORATION 1 3.00% $6,426
    EVERETT FINANCIAL, INC. 1 6.00% $7,494
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.25% $7,358
    FINANCE OF AMERICA MORTGAGE LLC 1 5.13% $9,993
    First Guaranty Mortgage Corporation 1 4.75% $2,771
    HomePromise Corporation 1 3.88% $26,691
    Horizon Bank 1 3.63% $4,280
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 2.63% $4,651
    KELLER MORTGAGE, LLC 1 5.25% $3,483
    LOANPAL, LLC 1 3.63% $31,810
    Low VA Rates, LLC 1 4.75% $15,516
    Magnolia Bank 1 4.63% $19,127
    MORTGAGE 1 INCORPORATED 1 4.13% $5,170
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $11,188
    Mr. Cooper ( Nationstar Mortgage ) 1 4.75% $15,336
    NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $14,453
    NORTHERN MORTGAGE SERVICES, LLC 1 5.63% $11,346
    ON Q FINANCIAL, INC. 1 3.25% $5,184
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $17,736
    PLANET HOME LENDING, LLC 1 2.75% $9,345
    Platinum Home Mortgage Corporation 1 4.25% $20,699
    ROYAL UNITED MORTGAGE LLC 1 5.75% $12,134
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $12,240

    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. 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%) $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 $261,704 (9.0%) $337,374 (3.9%) 0.87 494
    2019-04-01 $279,900 (4.1%) $356,768 (4.7%) 0.89 504
    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 $264,900 (10.4%) $341,201 (11.7%) 0.83 692
    2019-09-01 $263,725 (14.7%) $333,465 (14.0%) 0.83 676
    2019-10-01 $239,900 (4.4%) $310,276 (6.2%) 0.77 787
    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 (7.4%) $339,347 (0.6%) 0.88 494
    2020-04-01 $289,900 (3.6%) $345,472 (-3.2%) 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 (12.2%) $353,736 (3.7%) 0.85 446
    2020-09-01 $289,894 (9.9%) $345,386 (3.6%) 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 $308,975 (23.8%) $370,274 (20.0%) 0.90 227
    2021-03-01 $327,450 (16.5%) $380,188 (12.0%) 0.93 214
    2021-04-01 $335,000 (15.6%) $391,421 (13.3%) 0.91 214
    2021-05-01 $340,000 (13.4%) $379,999 (2.9%) 0.90 236
    2021-06-01 $316,250 (1.1%) $363,078 (-3.9%) 0.83 260
    2021-07-01 $299,000 (0.4%) $350,131 (-4.3%) 0.79 299
    2021-08-01 $294,050 (-1.1%) $359,023 (1.5%) 0.78 327
    2021-09-01 $283,725 (-2.1%) $356,632 (3.3%) 0.76 329
    2021-10-01 $279,900 (-6.4%) $361,828 (3.5%) 0.75 321
    2021-11-01 $270,450 (-10.4%) $358,053 (-0.2%) 0.72 294
    2021-12-01 $258,450 (-12.9%) $346,194 (-1.8%) 0.70 220
    2022-01-01 $271,000 (-5.6%) $350,880 (-0.8%) 0.73 146
    2022-02-01 $307,400 (-0.5%) $366,488 (-1.0%) 0.80 146
    2022-03-01 $299,700 (-8.5%) $369,512 (-2.8%) 0.75 153
    2022-04-01 $327,000 (-2.4%) $399,888 (2.2%) 0.78 160
    2022-05-01 $303,704 (-10.7%) $411,225 (8.2%) 0.69 210
    2022-06-01 $326,225 (3.2%) $418,185 (15.2%) 0.73 255
    2022-07-01 $309,450 (3.5%) $403,464 (15.2%) 0.70 318
    2022-08-01 $289,975 (-1.4%) $384,784 (7.2%) 0.67 364
    2022-09-01 $294,950 (4.0%) $382,446 (7.2%) 0.69 339
    2022-10-01 $287,500 (2.7%) $379,224 (4.8%) 0.68 389
    2022-11-01 $279,945 (3.5%) $360,042 (0.6%) 0.67 397
    2022-12-01 $275,000 (6.4%) $357,061 (3.1%) 0.68 333
    2023-01-01 $298,990 (10.3%) $382,080 (8.9%) 0.74 276
    2023-02-01 $304,475 (-1.0%) $393,474 (7.4%) 0.73 252
    2023-03-01 $294,495 (-1.7%) $397,136 (7.5%) 0.69 227
    2023-04-01 $345,000 (5.5%) $444,260 (11.1%) 0.80 217
    Kalamazoo's median listing price for 2023-04-01 was $345,000, a difference of $18,000 (5.5%) versus the prior year and $50,505 versus the prior month.

    Kalamazoo's median listing price comes in at 80% of the national average.

    Kalamazoo's average listing price for 2023-04-01 was $444,260, a difference of $44,372 (11.1%) versus the prior year and $47,124 versus the prior month.

    For the 2023-04-01 period, Kalamazoo had 217 MLS listings, a difference of -10 listings (-4%) versus the prior month and 57 listings (36%) 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 71 days 1,902 sqft
    2018-02-01 63 days 1,951 sqft
    2018-03-01 44 days 2,100 sqft
    2018-04-01 39 days 2,253 sqft
    2018-05-01 34 days 2,356 sqft
    2018-06-01 33 days 2,291 sqft
    2018-07-01 37 days 2,238 sqft
    2018-08-01 34 days 2,142 sqft
    2018-09-01 40 days 2,121 sqft
    2018-10-01 46 days 2,052 sqft
    2018-11-01 51 days 1,997 sqft
    2018-12-01 60 days 2,012 sqft
    2019-01-01 67 days 1,944 sqft
    2019-02-01 64 days 1,923 sqft
    2019-03-01 53 days 2,066 sqft
    2019-04-01 37 days 2,180 sqft
    2019-05-01 32 days 2,256 sqft
    2019-06-01 32 days 2,224 sqft
    2019-07-01 34 days 2,197 sqft
    2019-08-01 46 days 2,210 sqft
    2019-09-01 51 days 2,175 sqft
    2019-10-01 43 days 2,076 sqft
    2019-11-01 46 days 2,048 sqft
    2019-12-01 63 days 2,002 sqft
    2020-01-01 73 days 2,004 sqft
    2020-02-01 65 days 1,983 sqft
    2020-03-01 52 days 2,064 sqft
    2020-04-01 59 days 2,078 sqft
    2020-05-01 66 days 2,196 sqft
    2020-06-01 46 days 2,300 sqft
    2020-07-01 46 days 2,193 sqft
    2020-08-01 47 days 2,227 sqft
    2020-09-01 47 days 2,085 sqft
    2020-10-01 47 days 2,075 sqft
    2020-11-01 49 days 2,075 sqft
    2020-12-01 57 days 2,047 sqft
    2021-01-01 59 days 1,900 sqft
    2021-02-01 53 days 1,887 sqft
    2021-03-01 45 days 1,978 sqft
    2021-04-01 39 days 2,003 sqft
    2021-05-01 31 days 2,011 sqft
    2021-06-01 33 days 2,049 sqft
    2021-07-01 33 days 1,989 sqft
    2021-08-01 34 days 2,019 sqft
    2021-09-01 39 days 1,969 sqft
    2021-10-01 39 days 1,911 sqft
    2021-11-01 43 days 1,884 sqft
    2021-12-01 49 days 1,771 sqft
    2022-01-01 56 days 1,800 sqft
    2022-02-01 33 days 1,834 sqft
    2022-03-01 31 days 1,810 sqft
    2022-04-01 33 days 1,810 sqft
    2022-05-01 25 days 1,849 sqft
    2022-06-01 28 days 1,902 sqft
    2022-07-01 31 days 1,873 sqft
    2022-08-01 34 days 1,941 sqft
    2022-09-01 43 days 1,976 sqft
    2022-10-01 39 days 1,910 sqft
    2022-11-01 41 days 1,879 sqft
    2022-12-01 54 days 1,794 sqft
    2023-01-01 53 days 1,790 sqft
    2023-02-01 43 days 1,779 sqft
    2023-03-01 45 days 1,739 sqft
    2023-04-01 44 days 1,851 sqft
    Kalamazoo's median listing age (time on market) for 2023-04-01 was 44 days. This is 35% longer than the same period one year ago.

    Kalamazoo's median square footage for active listings during the 2023-04-01 period was 1,851 sqft. One year prior, the average listing was 1,810 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.