Lincoln VA Loan Rates, Closing Costs & Stats

Lincoln, IL

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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.

    Lincoln's 9 lenders originated 27 VA loans during 2023. The total origination value was $4,595,000, with an average VA loan value of $170,185.

    Lincoln VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Lincoln averaged 6.81% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

    Lincoln's average VA mortgage closing costs are $3,989.

    The average rate for the prior week (2024-04-05) was 6.46% and one month ago for the week of 2024-03-08, the average rate was 6.79%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.67%.

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

    Lincoln 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 Lincoln level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 12 6.58% $3,247
    FLAT BRANCH MORTGAGE, INC. 3 7.04% $4,714
    DAS Acquisition Company, LLC 3 7.17% $2,956
    QUICKEN LOANS, LLC 3 6.49% $6,095
    FIRST STATE MORTGAGE SERVICES, LLC 2 6.06% $2,894
    NAVY FEDERAL CREDIT UNION 1 5.75% $3,892
    Plains Commerce Bank 1 6.75% $7,411
    USAA Federal Savings Bank 1 6.25% $3,859
    INB 1 7.00% $7,373

    The top Lincoln VA lender as defined by loan originations is Mortgage Research Center, LLC, with 12 VA loans originated. Their average total fees are $3,247, which is $1,467 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Lincoln VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,247), .

    The lowest rate Lincoln VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.58%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lincoln (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 $98,175 (18.3%) $119,490 (23.3%) 0.00 156
    2018-02-01 $103,200 (22.9%) $119,063 (21.8%) 0.00 151
    2018-03-01 $104,450 (30.7%) $121,834 (25.3%) 0.00 150
    2018-04-01 $99,450 (32.6%) $122,400 (27.5%) 0.00 147
    2018-05-01 $106,725 (30.8%) $122,321 (20.5%) 0.00 148
    2018-06-01 $99,900 (12.1%) $121,894 (17.4%) 0.00 166
    2018-07-01 $98,250 (14.3%) $119,428 (17.2%) 0.00 188
    2018-08-01 $99,900 (5.4%) $121,981 (9.9%) 0.00 200
    2018-09-01 $101,200 (6.0%) $122,048 (5.4%) 0.00 204
    2018-10-01 $99,975 (8.2%) $124,338 (11.7%) 0.00 196
    2018-11-01 $104,975 (11.6%) $126,711 (11.0%) 0.00 189
    2018-12-01 $108,500 (14.3%) $128,371 (8.5%) 0.00 182
    2019-01-01 $99,950 (1.8%) $124,789 (4.4%) 0.00 180
    2019-02-01 $102,450 (-0.7%) $125,928 (5.8%) 0.00 174
    2019-03-01 $102,914 (-1.5%) $126,315 (3.7%) 0.00 179
    2019-04-01 $98,200 (-1.3%) $125,965 (2.9%) 0.00 184
    2019-05-01 $94,900 (-11.1%) $120,339 (-1.6%) 0.00 186
    2019-06-01 $94,900 (-5.0%) $119,831 (-1.7%) 0.00 193
    2019-07-01 $94,900 (-3.4%) $118,238 (-1.0%) 0.00 190
    2019-08-01 $94,900 (-5.0%) $119,343 (-2.2%) 0.00 193
    2019-09-01 $94,900 (-6.2%) $118,456 (-2.9%) 0.00 202
    2019-10-01 $94,900 (-5.1%) $117,865 (-5.2%) 0.00 207
    2019-11-01 $93,000 (-11.4%) $117,237 (-7.5%) 0.00 194
    2019-12-01 $94,900 (-12.5%) $117,920 (-8.1%) 0.00 187
    2020-01-01 $94,900 (-5.1%) $116,596 (-6.6%) 0.00 171
    2020-02-01 $94,900 (-7.4%) $119,056 (-5.5%) 0.00 170
    2020-03-01 $96,500 (-6.2%) $119,292 (-5.6%) 0.00 172
    2020-04-01 $94,900 (-3.4%) $115,193 (-8.6%) 0.00 169
    2020-05-01 $90,700 (-4.4%) $114,598 (-4.8%) 0.00 151
    2020-06-01 $94,900 (0.0%) $117,123 (-2.3%) 0.00 141
    2020-07-01 $94,800 (-0.1%) $115,669 (-2.2%) 0.00 130
    2020-08-01 $85,000 (-10.4%) $113,635 (-4.8%) 0.00 123
    2020-09-01 $80,175 (-15.5%) $109,481 (-7.6%) 0.00 129
    2020-10-01 $79,900 (-15.8%) $106,821 (-9.4%) 0.00 121
    2020-11-01 $79,900 (-14.1%) $103,783 (-11.5%) 0.00 123
    2020-12-01 $79,900 (-15.8%) $101,726 (-13.7%) 0.00 118
    2021-01-01 $79,900 (-15.8%) $101,278 (-13.1%) 0.00 86
    2021-02-01 $79,900 (-15.8%) $96,623 (-18.8%) 0.00 72
    2021-03-01 $79,900 (-17.2%) $93,959 (-21.2%) 0.00 58
    2021-04-01 $74,200 (-21.8%) $95,365 (-17.2%) 0.00 47
    2021-05-01 $79,900 (-11.9%) $109,617 (-4.4%) 0.00 42
    2021-06-01 $91,675 (-3.4%) $128,809 (10.0%) 0.00 50
    2021-07-01 $114,900 (21.2%) $129,439 (11.9%) 0.00 60
    2021-08-01 $117,400 (38.1%) $124,024 (9.1%) 0.00 52
    2021-09-01 $119,900 (49.6%) $132,785 (21.3%) 0.00 50
    2021-10-01 $114,900 (43.8%) $129,903 (21.6%) 0.00 52
    2021-11-01 $98,650 (23.5%) $110,012 (6.0%) 0.00 44
    2021-12-01 $91,150 (14.1%) $103,822 (2.1%) 0.00 42
    2022-01-01 $89,900 (12.5%) $104,354 (3.0%) 0.00 44
    2022-02-01 $88,675 (11.0%) $109,698 (13.5%) 0.00 36
    2022-03-01 $105,000 (31.4%) $110,165 (17.3%) 0.00 26
    2022-04-01 $134,900 (81.8%) $174,966 (83.5%) 0.00 26
    2022-05-01 $149,500 (87.1%) $173,486 (58.3%) 0.00 33
    2022-06-01 $128,725 (40.4%) $153,411 (19.1%) 0.00 30
    2022-07-01 $122,450 (6.6%) $141,928 (9.7%) 0.00 31
    2022-08-01 $123,725 (5.4%) $148,653 (19.9%) 0.00 32
    2022-09-01 $123,750 (3.2%) $146,656 (10.5%) 0.00 29
    2022-10-01 $100,000 (-13.0%) $142,162 (9.4%) 0.00 41
    2022-11-01 $99,950 (1.3%) $152,832 (38.9%) 0.00 48
    2022-12-01 $105,000 (15.2%) $147,208 (41.8%) 0.00 45
    2023-01-01 $106,225 (18.2%) $152,254 (45.9%) 0.00 39
    2023-02-01 $108,725 (22.6%) $145,259 (32.4%) 0.00 38
    2023-03-01 $117,000 (11.4%) $151,466 (37.5%) 0.00 30
    2023-04-01 $100,000 (-25.9%) $150,571 (-13.9%) 0.00 29
    2023-05-01 $118,925 (-20.5%) $148,165 (-14.6%) 0.00 29
    2023-06-01 $108,450 (-15.8%) $162,263 (5.8%) 0.00 25
    2023-07-01 $125,000 (2.1%) $182,474 (28.6%) 0.00 27
    2023-08-01 $144,700 (17.0%) $183,710 (23.6%) 0.00 38
    2023-09-01 $123,900 (0.1%) $162,948 (11.1%) 0.00 40
    2023-10-01 $116,200 (16.2%) $160,199 (12.7%) 0.00 38
    2023-11-01 $110,950 (11.0%) $152,464 (-0.2%) 0.00 40
    2023-12-01 $112,400 (7.1%) $152,561 (3.6%) 0.00 38
    2024-01-01 $118,500 (11.6%) $162,424 (6.7%) 0.00 31
    2024-02-01 $136,450 (25.5%) $196,699 (35.4%) 0.00 26
    2024-03-01 $140,000 (19.7%) $216,157 (42.7%) 0.00 22
    Lincoln's median listing price for 2024-03-01 was $140,000, a difference of $23,000 (19.7%) versus the prior year and $3,550 versus the prior month.

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

    Lincoln's average listing price for 2024-03-01 was $216,157, a difference of $64,691 (42.7%) versus the prior year and $19,458 versus the prior month.

    For the 2024-03-01 period, Lincoln had 22 MLS listings, a difference of -4 listings (-15%) versus the prior month and -8 listings (-27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lincoln (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,734 sqft
    2018-02-01 0 days 1,761 sqft
    2018-03-01 0 days 1,802 sqft
    2018-04-01 0 days 1,765 sqft
    2018-05-01 0 days 1,753 sqft
    2018-06-01 0 days 1,729 sqft
    2018-07-01 0 days 1,691 sqft
    2018-08-01 0 days 1,716 sqft
    2018-09-01 0 days 1,782 sqft
    2018-10-01 0 days 1,772 sqft
    2018-11-01 0 days 1,759 sqft
    2018-12-01 0 days 1,780 sqft
    2019-01-01 0 days 1,732 sqft
    2019-02-01 0 days 1,745 sqft
    2019-03-01 0 days 1,712 sqft
    2019-04-01 0 days 1,669 sqft
    2019-05-01 0 days 1,675 sqft
    2019-06-01 0 days 1,694 sqft
    2019-07-01 0 days 1,697 sqft
    2019-08-01 0 days 1,688 sqft
    2019-09-01 0 days 1,670 sqft
    2019-10-01 0 days 1,652 sqft
    2019-11-01 0 days 1,640 sqft
    2019-12-01 0 days 1,648 sqft
    2020-01-01 0 days 1,650 sqft
    2020-02-01 0 days 1,660 sqft
    2020-03-01 0 days 1,696 sqft
    2020-04-01 0 days 1,674 sqft
    2020-05-01 0 days 1,648 sqft
    2020-06-01 0 days 1,703 sqft
    2020-07-01 0 days 1,656 sqft
    2020-08-01 0 days 1,632 sqft
    2020-09-01 0 days 1,584 sqft
    2020-10-01 0 days 1,536 sqft
    2020-11-01 0 days 1,568 sqft
    2020-12-01 0 days 1,491 sqft
    2021-01-01 0 days 1,519 sqft
    2021-02-01 0 days 1,535 sqft
    2021-03-01 0 days 1,409 sqft
    2021-04-01 0 days 1,264 sqft
    2021-05-01 0 days 1,292 sqft
    2021-06-01 0 days 1,480 sqft
    2021-07-01 0 days 1,600 sqft
    2021-08-01 0 days 1,606 sqft
    2021-09-01 0 days 1,679 sqft
    2021-10-01 0 days 1,679 sqft
    2021-11-01 0 days 1,614 sqft
    2021-12-01 0 days 1,558 sqft
    2022-01-01 0 days 1,413 sqft
    2022-02-01 0 days 1,409 sqft
    2022-03-01 0 days 1,309 sqft
    2022-04-01 0 days 1,510 sqft
    2022-05-01 0 days 1,753 sqft
    2022-06-01 0 days 1,617 sqft
    2022-07-01 0 days 1,524 sqft
    2022-08-01 0 days 1,529 sqft
    2022-09-01 0 days 1,659 sqft
    2022-10-01 0 days 1,652 sqft
    2022-11-01 0 days 1,596 sqft
    2022-12-01 0 days 1,652 sqft
    2023-01-01 0 days 1,687 sqft
    2023-02-01 0 days 1,615 sqft
    2023-03-01 0 days 1,556 sqft
    2023-04-01 0 days 1,514 sqft
    2023-05-01 0 days 1,721 sqft
    2023-06-01 0 days 1,554 sqft
    2023-07-01 0 days 1,536 sqft
    2023-08-01 0 days 1,562 sqft
    2023-09-01 0 days 1,368 sqft
    2023-10-01 0 days 1,325 sqft
    2023-11-01 0 days 1,295 sqft
    2023-12-01 0 days 1,384 sqft
    2024-01-01 0 days 1,413 sqft
    2024-02-01 0 days 1,650 sqft
    2024-03-01 0 days 1,584 sqft
    Lincoln's median listing age (time on market) for 2024-03-01 was 0 days.

    Lincoln's median square footage for active listings during the 2024-03-01 period was 1,584 sqft. One year prior, the average listing was 1,556 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.