Lansing VA Loan Rates, Closing Costs & Stats

LANSING-EAST LANSING, 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.

    Lansing's 74 lenders originated 423 VA loans during 2023. The total origination value was $104,495,000, with an average VA loan value of $247,033.

    Lansing VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lansing averaged 6.65% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Lansing's average VA mortgage closing costs are $4,947.

    The average rate for the prior week (2025-02-07) was 6.48% and one month ago for the week of 2025-01-10, the average rate was 7.02%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2025-02-14, the average rate was 7.03%.

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

    Lansing 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 Lansing level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 87 6.66% $5,517
    QUICKEN LOANS, LLC 48 6.39% $8,825
    UNITED WHOLESALE MORTGAGE, LLC 27 6.64% $8,058
    UNION HOME MORTGAGE CORP. 20 6.92% $7,630
    USAA Federal Savings Bank 19 6.36% $6,221
    Flagstar Bank, FSB 17 6.78% $6,823
    The Dart Bank 16 6.52% $6,662
    NAVY FEDERAL CREDIT UNION 13 5.93% $5,392
    LOANDEPOT.COM, LLC 7 5.94% $11,456
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 7 6.55% $4,510
    NEW DAY FINANCIAL, LLC 7 7.73% $9,552
    MICHIGAN MUTUAL, INC. 7 6.71% $8,445
    FREEDOM MORTGAGE CORPORATION 7 6.48% $11,097
    PENNYMAC LOAN SERVICES, LLC 7 5.55% $5,301
    J. VIRGIL, INC. 7 6.48% $5,534
    Mr. Cooper ( Nationstar Mortgage ) 6 5.90% $12,271
    The Huntington National Bank 6 6.48% $7,129
    EVERETT FINANCIAL, INC. 5 7.08% $4,688
    CARDINAL FINANCIAL 5 6.58% $7,328
    NEWREZ LLC 5 6.40% $5,936
    EMM LOANS LLC 4 6.31% $11,628
    CROSSCOUNTRY MORTGAGE, LLC 4 6.69% $9,796
    DAS Acquisition Company, LLC 4 6.97% $5,553
    MORTGAGE 1 INCORPORATED 4 6.94% $6,621
    AMERISAVE MORTGAGE CORPORATION 3 5.75% $14,931
    Preston Home Loans Inc 3 6.79% $10,179
    Fifth Third Bank 2 6.38% $5,956
    MORTGAGE CENTER L.C 2 6.44% $4,128
    Armed Forces Bank 2 5.69% $9,832
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.06% $5,964
    HOMESIDE FINANCIAL, LLC 2 7.25% $6,831
    PLANET HOME LENDING, LLC 2 6.75% $9,051
    Independent Bank 2 6.75% $7,734
    LAKE MICHIGAN CREDIT UNION 2 6.25% $5,368
    AMERICAN FINANCING CORPORATION 2 6.06% $7,240
    TOWNE MORTGAGE COMPANY 2 7.18% $8,750
    VAN DYK MORTGAGE CORPORATION 2 7.63% $8,510
    VILLAGE CAPITAL MORTGAGE 2 7.00% $19,278
    NBKC BANK 1 6.13% $8,500
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $5,459
    Ameris Bank 1 6.25% $2,764
    BNC National Bank 1 6.00% $4,651
    BROKER SOLUTIONS, INC. 1 6.25% $11,371
    CALIBER HOME LOANS, INC. 1 6.63% $18,633
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $6,448
    Community First National Bank 1 5.75% $22,195
    CONTOUR MORTGAGE CORPORATION 1 6.25% $13,304
    Equity Prime Mortgage LLC 1 7.25% $4,946
    FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $10,917
    First Federal Bank 1 6.00% $12,334
    First Merchants Bank 1 7.50% $9,893
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.50% $6,725
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $8,324
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.13% $9,781
    JPMorgan Chase Bank 1 6.50% $8,233
    LOANPAL, LLC 1 5.25% $16,218
    MEMBER FIRST MORTGAGE, LLC 1 6.38% $3,148
    Mid-Continent Funding, Inc. 1 5.63% $14,764
    MORTGAGEONE, INC. 1 8.25% $3,419
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $13,304
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $5,382
    NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $6,787
    Northpointe Bank 1 6.88% $9,802
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $2,466
    PHH Mortgage Corporation 1 6.88% $7,286
    Plains Commerce Bank 1 6.13% $3,991
    PLUS RELOCATION MORTGAGE, LLC 1 6.75% $7,496
    PNC Bank 1 7.50% $2,640
    ROSS MORTGAGE CORPORATION 1 5.63% $3,217
    Semper Home Loans, Inc. 1 6.63% $13,340
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $5,605
    The Central Trust Bank 1 5.25% $14,879
    The Federal Savings Bank 1 5.75% $14,121
    TOP FLITE FINANCIAL, INC. 1 6.75% $5,829

    The top Lansing VA lender as defined by loan originations is Mortgage Research Center, LLC, with 87 VA loans originated. Their average total fees are $5,517, which is $3,307 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lansing VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,392), Mortgage Research Center, LLC ($5,517), USAA Federal Savings Bank ($6,221), The Dart Bank ($6,662) and Flagstar Bank, FSB ($6,823).

    The lowest rate Lansing VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.93%), USAA Federal Savings Bank (6.36%), QUICKEN LOANS, LLC (6.39%), The Dart Bank (6.52%) and UNITED WHOLESALE MORTGAGE, LLC (6.64%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lansing (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 $139,900 (14.7%) $193,469 (12.1%) 0.50 1,176
    2018-02-01 $145,000 (12.7%) $199,300 (10.5%) 0.51 1,127
    2018-03-01 $149,900 (11.1%) $207,339 (11.4%) 0.51 1,047
    2018-04-01 $162,400 (12.1%) $216,811 (11.8%) 0.53 1,009
    2018-05-01 $179,000 (19.4%) $223,433 (11.6%) 0.58 1,084
    2018-06-01 $179,950 (14.3%) $225,655 (9.5%) 0.58 1,239
    2018-07-01 $179,995 (10.8%) $224,205 (8.2%) 0.58 1,386
    2018-08-01 $179,900 (12.7%) $220,093 (7.9%) 0.58 1,528
    2018-09-01 $174,900 (9.4%) $217,303 (5.8%) 0.57 1,571
    2018-10-01 $169,900 (8.6%) $215,966 (6.3%) 0.56 1,577
    2018-11-01 $169,450 (13.4%) $214,592 (8.3%) 0.55 1,509
    2018-12-01 $165,000 (16.2%) $211,869 (8.3%) 0.55 1,327
    2019-01-01 $165,000 (17.9%) $216,844 (12.1%) 0.54 1,172
    2019-02-01 $174,283 (20.2%) $224,328 (12.6%) 0.57 1,047
    2019-03-01 $180,329 (20.3%) $232,950 (12.4%) 0.56 1,007
    2019-04-01 $191,900 (18.2%) $242,457 (11.8%) 0.57 1,017
    2019-05-01 $202,450 (13.1%) $250,943 (12.3%) 0.61 1,110
    2019-06-01 $204,900 (13.9%) $247,990 (9.9%) 0.60 1,194
    2019-07-01 $199,950 (11.1%) $244,202 (8.9%) 0.60 1,285
    2019-08-01 $190,336 (5.8%) $236,489 (7.5%) 0.58 1,356
    2019-09-01 $176,028 (0.7%) $225,773 (3.9%) 0.54 1,432
    2019-10-01 $164,925 (-2.9%) $219,754 (1.8%) 0.52 1,459
    2019-11-01 $159,900 (-5.6%) $212,798 (-0.8%) 0.51 1,405
    2019-12-01 $151,825 (-8.0%) $209,842 (-1.0%) 0.50 1,257
    2020-01-01 $151,575 (-8.1%) $211,408 (-2.5%) 0.49 1,134
    2020-02-01 $157,900 (-9.4%) $224,122 (-0.1%) 0.49 1,015
    2020-03-01 $172,400 (-4.4%) $233,759 (0.4%) 0.51 907
    2020-04-01 $189,900 (-1.0%) $244,135 (0.7%) 0.53 870
    2020-05-01 $195,000 (-3.7%) $243,436 (-3.0%) 0.56 893
    2020-06-01 $220,000 (7.4%) $270,498 (9.1%) 0.62 814
    2020-07-01 $219,350 (9.7%) $268,788 (10.1%) 0.59 804
    2020-08-01 $214,900 (12.9%) $260,875 (10.3%) 0.59 794
    2020-09-01 $216,200 (22.8%) $262,861 (16.4%) 0.57 792
    2020-10-01 $199,900 (21.2%) $260,093 (18.4%) 0.54 770
    2020-11-01 $180,100 (12.6%) $253,167 (19.0%) 0.51 723
    2020-12-01 $169,900 (11.9%) $248,721 (18.5%) 0.49 625
    2021-01-01 $159,900 (5.5%) $244,097 (15.5%) 0.48 495
    2021-02-01 $160,000 (1.3%) $242,999 (8.4%) 0.47 384
    2021-03-01 $169,900 (-1.5%) $245,887 (5.2%) 0.50 363
    2021-04-01 $187,400 (-1.3%) $259,490 (6.3%) 0.50 339
    2021-05-01 $179,900 (-7.7%) $247,340 (1.6%) 0.49 418
    2021-06-01 $189,975 (-13.7%) $260,551 (-3.7%) 0.50 503
    2021-07-01 $185,000 (-15.7%) $254,368 (-5.4%) 0.49 615
    2021-08-01 $184,200 (-14.3%) $249,733 (-4.3%) 0.49 746
    2021-09-01 $179,900 (-16.8%) $244,743 (-6.9%) 0.48 770
    2021-10-01 $176,400 (-11.8%) $237,369 (-8.7%) 0.48 696
    2021-11-01 $163,875 (-9.0%) $224,512 (-11.3%) 0.44 644
    2021-12-01 $149,950 (-11.7%) $217,235 (-12.7%) 0.42 535
    2022-01-01 $145,000 (-9.3%) $215,246 (-11.8%) 0.41 418
    2022-02-01 $152,175 (-4.9%) $229,422 (-5.6%) 0.40 336
    2022-03-01 $159,450 (-6.2%) $233,684 (-5.0%) 0.40 313
    2022-04-01 $189,900 (1.3%) $261,197 (0.7%) 0.45 308
    2022-05-01 $199,675 (11.0%) $257,224 (4.0%) 0.46 402
    2022-06-01 $200,000 (5.3%) $265,649 (2.0%) 0.45 516
    2022-07-01 $209,950 (13.5%) $265,989 (4.6%) 0.47 618
    2022-08-01 $209,450 (13.7%) $264,906 (6.1%) 0.47 724
    2022-09-01 $205,000 (14.0%) $266,744 (9.0%) 0.47 711
    2022-10-01 $219,900 (24.7%) $266,486 (12.3%) 0.49 760
    2022-11-01 $194,950 (19.0%) $256,450 (14.2%) 0.47 802
    2022-12-01 $194,450 (29.7%) $252,512 (16.2%) 0.47 696
    2023-01-01 $191,425 (32.0%) $254,287 (18.1%) 0.46 524
    2023-02-01 $201,175 (32.2%) $259,718 (13.2%) 0.48 422
    2023-03-01 $228,808 (43.5%) $280,397 (20.0%) 0.54 376
    2023-04-01 $229,900 (21.1%) $276,388 (5.8%) 0.53 362
    2023-05-01 $246,075 (23.2%) $284,825 (10.7%) 0.56 403
    2023-06-01 $259,000 (29.5%) $295,279 (11.2%) 0.58 463
    2023-07-01 $259,900 (23.8%) $305,335 (14.8%) 0.59 513
    2023-08-01 $249,950 (19.3%) $300,323 (13.4%) 0.57 562
    2023-09-01 $244,900 (19.5%) $292,197 (9.5%) 0.57 607
    2023-10-01 $245,725 (11.7%) $287,144 (7.8%) 0.57 662
    2023-11-01 $237,400 (21.8%) $282,381 (10.1%) 0.55 669
    2023-12-01 $225,000 (15.7%) $273,716 (8.4%) 0.55 626
    2024-01-01 $224,950 (17.5%) $278,301 (9.4%) 0.55 527
    2024-02-01 $210,000 (4.4%) $271,517 (4.5%) 0.51 486
    2024-03-01 $225,000 (-1.7%) $275,111 (-1.9%) 0.53 470
    2024-04-01 $234,950 (2.2%) $284,209 (2.8%) 0.55 474
    2024-05-01 $252,450 (2.6%) $297,476 (4.4%) 0.56 475
    2024-06-01 $250,000 (-3.5%) $304,308 (3.1%) 0.56 528
    2024-07-01 $249,900 (-3.9%) $303,101 (-0.7%) 0.57 580
    2024-08-01 $239,900 (-4.0%) $292,122 (-2.7%) 0.56 682
    2024-09-01 $237,450 (-3.0%) $282,839 (-3.2%) 0.55 754
    2024-10-01 $234,900 (-4.4%) $282,438 (-1.6%) 0.54 790
    2024-11-01 $230,000 (-3.1%) $276,878 (-2.0%) 0.55 810
    2024-12-01 $213,500 (-5.1%) $273,248 (-0.2%) 0.53 730
    2025-01-01 $214,950 (-4.5%) $278,885 (0.2%) 0.00 673
    Lansing's median listing price for 2025-01-01 was $214,950, a difference of $-10,000 (-4.5%) versus the prior year and $1,450 versus the prior month.

    Lansing's median listing price comes in at 0% of the national average.

    Lansing's average listing price for 2025-01-01 was $278,885, a difference of $584 (0.2%) versus the prior year and $5,637 versus the prior month.

    For the 2025-01-01 period, Lansing had 673 MLS listings, a difference of -57 listings (-8%) versus the prior month and 146 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lansing (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 74 days 1,603 sqft
    2018-02-01 66 days 1,636 sqft
    2018-03-01 52 days 1,676 sqft
    2018-04-01 46 days 1,710 sqft
    2018-05-01 38 days 1,747 sqft
    2018-06-01 39 days 1,760 sqft
    2018-07-01 43 days 1,774 sqft
    2018-08-01 42 days 1,795 sqft
    2018-09-01 51 days 1,769 sqft
    2018-10-01 58 days 1,762 sqft
    2018-11-01 60 days 1,717 sqft
    2018-12-01 70 days 1,683 sqft
    2019-01-01 77 days 1,665 sqft
    2019-02-01 74 days 1,702 sqft
    2019-03-01 63 days 1,721 sqft
    2019-04-01 48 days 1,787 sqft
    2019-05-01 38 days 1,821 sqft
    2019-06-01 38 days 1,840 sqft
    2019-07-01 43 days 1,838 sqft
    2019-08-01 44 days 1,789 sqft
    2019-09-01 47 days 1,737 sqft
    2019-10-01 49 days 1,704 sqft
    2019-11-01 53 days 1,683 sqft
    2019-12-01 67 days 1,616 sqft
    2020-01-01 74 days 1,606 sqft
    2020-02-01 68 days 1,639 sqft
    2020-03-01 55 days 1,691 sqft
    2020-04-01 58 days 1,699 sqft
    2020-05-01 59 days 1,737 sqft
    2020-06-01 43 days 1,851 sqft
    2020-07-01 39 days 1,789 sqft
    2020-08-01 36 days 1,804 sqft
    2020-09-01 33 days 1,802 sqft
    2020-10-01 36 days 1,775 sqft
    2020-11-01 42 days 1,685 sqft
    2020-12-01 51 days 1,629 sqft
    2021-01-01 58 days 1,550 sqft
    2021-02-01 45 days 1,441 sqft
    2021-03-01 40 days 1,488 sqft
    2021-04-01 37 days 1,565 sqft
    2021-05-01 29 days 1,578 sqft
    2021-06-01 22 days 1,455 sqft
    2021-07-01 24 days 1,454 sqft
    2021-08-01 24 days 1,531 sqft
    2021-09-01 34 days 1,557 sqft
    2021-10-01 37 days 1,549 sqft
    2021-11-01 45 days 1,467 sqft
    2021-12-01 52 days 1,428 sqft
    2022-01-01 54 days 1,422 sqft
    2022-02-01 44 days 1,424 sqft
    2022-03-01 38 days 1,448 sqft
    2022-04-01 28 days 1,600 sqft
    2022-05-01 22 days 1,596 sqft
    2022-06-01 23 days 1,605 sqft
    2022-07-01 26 days 1,640 sqft
    2022-08-01 30 days 1,629 sqft
    2022-09-01 40 days 1,611 sqft
    2022-10-01 40 days 1,650 sqft
    2022-11-01 44 days 1,608 sqft
    2022-12-01 54 days 1,596 sqft
    2023-01-01 61 days 1,553 sqft
    2023-02-01 54 days 1,575 sqft
    2023-03-01 44 days 1,660 sqft
    2023-04-01 35 days 1,656 sqft
    2023-05-01 28 days 1,703 sqft
    2023-06-01 30 days 1,757 sqft
    2023-07-01 34 days 1,808 sqft
    2023-08-01 35 days 1,762 sqft
    2023-09-01 37 days 1,704 sqft
    2023-10-01 37 days 1,692 sqft
    2023-11-01 42 days 1,669 sqft
    2023-12-01 50 days 1,597 sqft
    2024-01-01 58 days 1,590 sqft
    2024-02-01 52 days 1,519 sqft
    2024-03-01 40 days 1,566 sqft
    2024-04-01 36 days 1,633 sqft
    2024-05-01 24 days 1,716 sqft
    2024-06-01 24 days 1,753 sqft
    2024-07-01 34 days 1,741 sqft
    2024-08-01 33 days 1,692 sqft
    2024-09-01 36 days 1,665 sqft
    2024-10-01 38 days 1,635 sqft
    2024-11-01 44 days 1,619 sqft
    2024-12-01 55 days 1,560 sqft
    2025-01-01 0 days 1,568 sqft
    Lansing's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lansing's median square footage for active listings during the 2025-01-01 period was 1,568 sqft. One year prior, the average listing was 1,590 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.