Lake County VA Loans

LAKE COUNTY-KENOSHA COUNTY, IL-WI

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.

Lake County's 149 lenders originated 2,180 VA loans during 2021. The total origination value was $594,580,000, with an average VA loan value of $272,743.

Lake County VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Lake County averaged 4.82% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.3% and one month ago for the week of 2022-02-18, the average rate was 4.22%.

The average rate one year ago was 3.09%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.64%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Lake County 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 Lake County level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 306 2.87% $6,665
FREEDOM MORTGAGE CORPORATION 146 2.45% $3,144
QUICKEN LOANS, LLC 142 2.51% $4,958
NAVY FEDERAL CREDIT UNION 131 2.50% $6,140
FINANCE OF AMERICA MORTGAGE LLC 58 2.91% $5,813
USAA Federal Savings Bank 55 2.91% $5,441
GUARANTEED RATE, INC. 48 2.63% $6,417
LAKEVIEW LOAN SERVICING, LLC 43 2.52% $2,366
NEW DAY FINANCIAL, LLC 43 2.87% $7,923
CROSSCOUNTRY MORTGAGE, LLC 41 2.97% $8,549
LOANDEPOT.COM, LLC 41 2.56% $4,179
PENNYMAC LOAN SERVICES, LLC 40 2.57% $5,378
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 39 2.96% $7,740
UNITED WHOLESALE MORTGAGE, LLC 34 2.52% $4,269
The Federal Savings Bank 33 2.64% $7,629
CALIBER HOME LOANS, INC. 32 2.60% $4,817
Mr. Cooper ( Nationstar Mortgage ) 31 2.88% $4,648
HOME POINT FINANCIAL CORPORATION 30 2.48% $3,092
VILLAGE CAPITAL & INVESTMENT LLC 25 2.40% $4,034
GATEWAY MORTGAGE CORPORATION 25 2.66% $4,750
MUTUAL OF OMAHA MORTGAGE, INC. 24 2.65% $5,721
Wells Fargo Bank 22 2.67% $4,123
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 20 3.07% $6,899
CLEARPATH LENDING 20 2.29% $4,058
Barrington Bank & Trust Company, N.A. 20 2.74% $6,043
Key Mortgage Services, Inc. 19 2.91% $8,029
AMERICAN PACIFIC MORTGAGE CORPORATION 17 3.18% $10,397
Carrington Mortgage Services, LLC 14 3.27% $3,965
NVR Mortgage Finance, Inc. 14 2.81% $6,504
PENTAGON FEDERAL CREDIT UNION 14 2.34% $2,873
FIRST CENTENNIAL MORTGAGE CORPORATION 13 2.65% $5,983
Low VA Rates, LLC 12 2.54% $5,525
AMERICAN FINANCIAL NETWORK, INC. 12 2.54% $9,881
BAY EQUITY LLC 11 2.75% $5,772
AMERICAN PORTFOLIO MORTGAGE CORPORATION 11 2.63% $4,322
PLANET HOME LENDING, LLC 11 2.44% $3,644
U.S. Bank 10 2.60% $5,719
Neighborhood Loans, Inc. 10 2.61% $8,288
BROKER SOLUTIONS, INC. 9 2.74% $7,560
InterContinental Capital Group, Inc 9 2.42% $4,487
First Guaranty Mortgage Corporation 8 2.50% $3,034
DRAPER AND KRAMER MORTGAGE CORP. 8 2.52% $5,427
Lakeview Community Capital, LLC 8 2.33% $3,610
NBKC BANK 7 2.46% $6,760
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 7 2.86% $8,119
North American Savings Bank, F.S.B. 7 2.32% $3,329
GUARANTEED RATE AFFINITY, LLC 6 2.75% $6,176
AMERISAVE MORTGAGE CORPORATION 6 2.65% $5,628
Associated Bank 6 2.90% $2,472
COMPASS MORTGAGE, INC. 6 2.79% $8,771
Flagstar Bank, FSB 6 3.06% $11,417
Magnolia Bank 6 2.56% $6,277
Prosperity Home Mortgage, LLC 6 2.54% $14,115
The Huntington National Bank 5 2.80% $4,326
NEWREZ LLC 5 2.73% $6,212
CIBM Bank 5 2.95% $8,113
UNION HOME MORTGAGE CORP. 5 2.25% $3,716
ACCELERATE MORTGAGE, LLC 5 2.25% $3,051
LEADERONE FINANCIAL CORPORATION 5 2.68% $14,722
PLAZA HOME MORTGAGE, INC. 5 3.25% $4,045
CMG MORTGAGE, INC. 5 2.55% $9,471
Paramount Residential Mortgage Group, Inc. 5 2.68% $4,068
WISCONSIN MORTGAGE CORPORATION 4 2.47% $6,264
NP, Inc. 4 2.28% $4,702
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.04% $4,802
PNC Bank 3 2.88% $1,010
BNC National Bank 3 2.42% $8,110
GENEVA FINANCIAL, LLC 3 3.17% $4,527
SECURITYNATIONAL MORTGAGE COMPANY 3 3.04% $4,628
Mid-Continent Funding, Inc. 3 2.75% $4,861
M/I FINANCIAL, LLC 3 2.75% $7,476
MORTGAGE 1 INCORPORATED 3 3.04% $15,813
GERSHMAN INVESTMENT CORP. 3 3.21% $3,186
INLANTA MORTGAGE, INC. 3 3.13% $4,045
The Equitable Bank, S.S.B. 3 2.38% $6,539
SOVEREIGN LENDING GROUP INCORPORATED 3 2.63% $4,275
OCMBC, INC. 3 3.29% $9,359
Armed Forces Bank 3 2.25% $2,225
Wyndham Capital Mortgage, Inc. 3 2.46% $4,585
Fifth Third Bank 2 2.63% $8,140
FIRST STATE MORTGAGE SERVICES, LLC 2 2.38% $10,755
GUILD MORTGAGE COMPANY 2 2.56% $2,876
First Savings Bank 2 2.31% $7,408
Hometown Lenders, Inc. 2 3.00% $21,673
First Midwest Bank 2 3.25% $3,326
First Federal Bank of Kansas City 2 2.25% $2,402
LAND HOME FINANCIAL SERVICES, INC. 2 3.19% $4,621
Midwest Community Bank 2 2.75% $3,696
DAS Acquisition Company, LLC 2 3.25% $6,080
PHH Mortgage Corporation 2 3.63% $4,993
PROPER RATE, LLC 2 2.88% $6,943
PULTE MORTGAGE LLC 2 2.63% $3,876
Regions Bank 2 2.75% $8,969
Sierra Pacific Mortgage Company, Inc. 2 3.00% $6,590
Strong Home Mortgage, LLC 2 2.25% $2,128
SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $3,165
T2 FINANCIAL LLC 2 2.50% $8,066
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.44% $2,978
A + MORTGAGE SERVICES, INC. 2 2.31% $478
Waterstone Mortgage Corporation 2 3.00% $8,070
MID AMERICA MORTGAGE, INC. 1 2.25% $2,129
MICHIGAN MUTUAL, INC. 1 2.75% $19,197
Manufacturers and Traders Trust Company 1 2.50% $3,926
Pacor Mortgage Corp 1 2.38% $3,018
LOANPAL, LLC 1 2.25% $7,598
CHERRY CREEK MORTGAGE, LLC 1 4.25% $573
First Federal Bank 1 3.13% $1,611
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.75% $11,703
Bank of England 1 3.75% $1,253
Platinum Home Mortgage Corporation 1 2.75% $11,902
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $3,492
First Horizon Bank 1 2.75% $13,306
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $12,173
LAKE MICHIGAN CREDIT UNION 1 2.63% $8,440
UNITED SECURITY FINANCIAL CORP 1 1.75% $4,576
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 2.75% $0
Goldwater Bank, N.A. 1 2.25% $5,457
Bank of America 1 3.00% $19,752
AMERICAN HOME LENDING USA, LLC 1 2.25% $4,187
JPMorgan Chase Bank 1 2.75% $8,051
Gateway First Bank 1 2.75% $7,304
JAMES B. NUTTER & COMPANY 1 2.50% $4,031
Springfield First Community Bank 1 2.50% $5,623
STEARNS LENDING, LLC 1 2.25% $5,424
AmeriHome Mortgage Company, LLC 1 2.63% $1,063
SUCCESS MORTGAGE PARTNERS, INC. 1 2.38% $16,920
SUMMIT FUNDING, INC. 1 2.99% $13,937
Sunflower Bank 1 2.49% $11,835
V.I.P. MORTGAGE, INC. 1 2.38% $901
First United Bank and Trust Company 1 2.75% $17,889
TCF National Bank 1 2.50% $804
First Mortgage Solutions, LLC 1 2.25% $450
Bank Five Nine 1 2.75% $2,610
The Home Loan Expert LLC 1 2.75% $848
HOMESIDE FINANCIAL, LLC 1 2.50% $9,611
TIAA, FSB 1 2.25% $2,964
TOWNE MORTGAGE COMPANY 1 2.99% $3,543
MOVEMENT MORTGAGE, LLC 1 2.75% $1,477
EMBRACE HOME LOANS, INC. 1 2.38% $7,213
EAGLE HOME MORTGAGE, LLC 1 2.63% $2,333
Nations Lending Corporation 1 3.63% $8,957
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 3.00% $8,343
Commerce Home Mortgage, Inc. 1 2.75% $4,850
Colten Mortgage, LLC 1 3.75% $6,074
NETWORK CAPITAL FUNDING CORPORATION 1 2.25% $3,513
Network Funding, L.P. 1 2.88% $15,721
Equity Prime Mortgage LLC 1 3.75% $2,432
MLD MORTGAGE INC. 1 2.75% $24,037
CITYWIDE HOME LOANS, LLC 1 3.00% $9,270

The top Lake County VA lender as defined by loan originations is Mortgage Research Center, LLC, with 306 VA loans originated. Their average total fees are $6,665, which is $3,521 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Lake County VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,366), PENTAGON FEDERAL CREDIT UNION ($2,873), HOME POINT FINANCIAL CORPORATION ($3,092), FREEDOM MORTGAGE CORPORATION ($3,144) and PLANET HOME LENDING, LLC ($3,644).

The lowest rate Lake County VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.29%), PENTAGON FEDERAL CREDIT UNION (2.34%), VILLAGE CAPITAL & INVESTMENT LLC (2.40%), PLANET HOME LENDING, LLC (2.44%) and FREEDOM MORTGAGE CORPORATION (2.45%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lake County (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 $288,950 (6.8%) $452,003 (5.0%) 1.06 27,410
2018-02-01 $304,500 (6.5%) $470,283 (4.1%) 1.10 27,874
2018-03-01 $325,000 (8.5%) $489,585 (5.5%) 1.12 29,483
2018-04-01 $335,000 (8.1%) $494,077 (4.4%) 1.12 31,497
2018-05-01 $336,250 (5.2%) $491,926 (3.4%) 1.12 33,604
2018-06-01 $334,900 (4.7%) $483,070 (2.0%) 1.12 36,277
2018-07-01 $327,250 (3.9%) $472,829 (1.4%) 1.09 38,396
2018-08-01 $319,950 (4.9%) $460,744 (1.1%) 1.07 39,499
2018-09-01 $317,900 (6.0%) $454,842 (0.4%) 1.06 40,189
2018-10-01 $312,000 (4.0%) $449,152 (-0.7%) 1.04 39,937
2018-11-01 $302,000 (1.7%) $446,276 (-0.6%) 1.01 37,571
2018-12-01 $297,000 (2.8%) $437,462 (-1.2%) 1.02 32,888
2019-01-01 $297,788 (3.1%) $442,555 (-2.1%) 1.03 30,040
2019-02-01 $312,400 (2.6%) $462,775 (-1.6%) 1.05 30,361
2019-03-01 $327,957 (0.9%) $476,932 (-2.6%) 1.07 32,150
2019-04-01 $339,900 (1.5%) $485,549 (-1.7%) 1.07 34,125
2019-05-01 $339,900 (1.1%) $482,555 (-1.9%) 1.05 36,370
2019-06-01 $339,000 (1.2%) $477,893 (-1.1%) 1.04 38,444
2019-07-01 $332,450 (1.6%) $470,215 (-0.6%) 1.03 39,922
2019-08-01 $326,315 (2.0%) $460,792 (0.0%) 1.03 40,311
2019-09-01 $320,718 (0.9%) $453,105 (-0.4%) 1.02 40,478
2019-10-01 $319,000 (2.2%) $454,656 (1.2%) 1.02 40,147
2019-11-01 $309,900 (2.6%) $448,844 (0.6%) 1.00 36,884
2019-12-01 $299,900 (1.0%) $444,177 (1.5%) 1.00 31,631
2020-01-01 $299,900 (0.7%) $445,683 (0.7%) 1.00 28,727
2020-02-01 $319,900 (2.4%) $466,900 (0.9%) 1.03 29,189
2020-03-01 $328,950 (0.3%) $475,504 (-0.3%) 1.03 29,677
2020-04-01 $324,950 (-4.4%) $464,610 (-4.3%) 1.01 28,345
2020-05-01 $329,900 (-2.9%) $477,698 (-1.0%) 1.00 28,171
2020-06-01 $339,900 (0.3%) $490,505 (2.6%) 0.99 28,064
2020-07-01 $348,450 (4.8%) $499,130 (6.2%) 1.00 27,100
2020-08-01 $349,000 (7.0%) $501,220 (8.8%) 1.00 26,680
2020-09-01 $349,450 (9.0%) $504,956 (11.4%) 1.00 26,967
2020-10-01 $344,900 (8.1%) $500,068 (10.0%) 0.99 27,016
2020-11-01 $335,400 (8.2%) $496,618 (10.6%) 0.96 24,642
2020-12-01 $326,340 (8.8%) $493,986 (11.2%) 0.96 20,938
2021-01-01 $329,500 (9.9%) $505,908 (13.5%) 0.97 17,962
2021-02-01 $342,995 (7.2%) $545,150 (16.8%) 0.99 15,887
2021-03-01 $349,900 (6.4%) $552,641 (16.2%) 0.98 15,400
2021-04-01 $350,000 (7.7%) $553,431 (19.1%) 0.94 16,064
2021-05-01 $355,000 (7.6%) $551,761 (15.5%) 0.93 16,868
2021-06-01 $355,000 (4.4%) $538,278 (9.7%) 0.92 19,112
2021-07-01 $349,900 (0.4%) $521,444 (4.5%) 0.91 21,041
2021-08-01 $341,214 (-2.2%) $499,769 (-0.3%) 0.90 22,155
2021-09-01 $332,450 (-4.9%) $490,671 (-2.8%) 0.87 22,176
2021-10-01 $329,900 (-4.4%) $487,370 (-2.5%) 0.87 21,533
2021-11-01 $322,445 (-3.9%) $484,174 (-2.5%) 0.85 18,752
2021-12-01 $312,500 (-4.2%) $478,375 (-3.2%) 0.83 15,437
2022-01-01 $314,900 (-4.4%) $494,700 (-2.2%) 0.84 12,585
Lake County's median listing price for 2022-01-01 was $314,900, a difference of $-14,600 (-4.4%) versus the prior year and $2,400 versus the prior month.

Lake County's median listing price comes in at 84% of the national average.

Lake County's average listing price for 2022-01-01 was $494,700, a difference of $-11,208 (-2.2%) versus the prior year and $16,325 versus the prior month.

For the 2022-01-01 period, Lake County had 12,585 MLS listings, a difference of -2,852 listings (-18%) versus the prior month and -5,377 listings (-30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lake County (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 75 days 1,918 sqft
2018-02-01 56 days 1,980 sqft
2018-03-01 43 days 2,008 sqft
2018-04-01 41 days 2,044 sqft
2018-05-01 41 days 2,048 sqft
2018-06-01 42 days 2,039 sqft
2018-07-01 44 days 2,007 sqft
2018-08-01 47 days 2,000 sqft
2018-09-01 49 days 1,988 sqft
2018-10-01 51 days 1,948 sqft
2018-11-01 56 days 1,922 sqft
2018-12-01 68 days 1,880 sqft
2019-01-01 73 days 1,880 sqft
2019-02-01 56 days 1,921 sqft
2019-03-01 43 days 1,974 sqft
2019-04-01 39 days 2,003 sqft
2019-05-01 41 days 2,022 sqft
2019-06-01 43 days 2,015 sqft
2019-07-01 44 days 2,001 sqft
2019-08-01 47 days 1,981 sqft
2019-09-01 49 days 1,949 sqft
2019-10-01 49 days 1,952 sqft
2019-11-01 56 days 1,922 sqft
2019-12-01 68 days 1,900 sqft
2020-01-01 73 days 1,887 sqft
2020-02-01 45 days 1,938 sqft
2020-03-01 43 days 1,981 sqft
2020-04-01 52 days 1,952 sqft
2020-05-01 60 days 1,985 sqft
2020-06-01 46 days 1,971 sqft
2020-07-01 42 days 1,936 sqft
2020-08-01 42 days 1,900 sqft
2020-09-01 42 days 1,833 sqft
2020-10-01 43 days 1,800 sqft
2020-11-01 50 days 1,753 sqft
2020-12-01 59 days 1,718 sqft
2021-01-01 64 days 1,700 sqft
2021-02-01 47 days 1,698 sqft
2021-03-01 43 days 1,694 sqft
2021-04-01 36 days 1,700 sqft
2021-05-01 36 days 1,726 sqft
2021-06-01 33 days 1,748 sqft
2021-07-01 36 days 1,745 sqft
2021-08-01 36 days 1,717 sqft
2021-09-01 38 days 1,700 sqft
2021-10-01 41 days 1,680 sqft
2021-11-01 45 days 1,649 sqft
2021-12-01 54 days 1,615 sqft
2022-01-01 60 days 1,600 sqft
Lake County's median listing age (time on market) for 2022-01-01 was 60 days. This is -6% shorter than the same period one year ago.

Lake County's median square footage for active listings during the 2022-01-01 period was 1,600 sqft. One year prior, the average listing was 1,700 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.