Madison VA Loan Rates, Closing Costs & Stats

MADISON, WI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Madison's 66 lenders originated 416 VA loans during 2024. The total origination value was $166,930,000, with an average VA loan value of $401,274.

    Madison VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Madison averaged 6.35% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Madison's average VA mortgage closing costs are $5,728.

    The average rate for the prior week (2025-03-28) was 6.67% and one month ago for the week of 2025-02-28, the average rate was 6.55%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.69%.

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

    Madison 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 Madison level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 61 6.24% $6,975
    UNITED WHOLESALE MORTGAGE, LLC 30 5.70% $8,204
    NEWREZ LLC 27 6.28% $5,778
    Barrington Bank & Trust Company, N.A. 26 6.26% $4,826
    GUILD MORTGAGE COMPANY 22 6.22% $8,546
    QUICKEN LOANS, LLC 17 6.13% $10,236
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.55% $6,627
    PENNYMAC LOAN SERVICES, LLC 14 5.77% $9,971
    NAVY FEDERAL CREDIT UNION 13 5.90% $5,554
    USAA Federal Savings Bank 12 6.17% $10,068
    FREEDOM MORTGAGE CORPORATION 11 6.16% $7,390
    Bell Bank 10 6.03% $4,989
    THOMPSON KANE & COMPANY, LLC 9 6.39% $10,386
    GUARANTEED RATE, INC. 9 6.29% $4,659
    Prosperity Home Mortgage, LLC 7 5.98% $8,965
    LOANDEPOT.COM, LLC 7 5.78% $10,126
    CROSSCOUNTRY MORTGAGE, LLC 5 6.73% $10,715
    The Bank of New Glarus 5 6.70% $7,072
    Nations Lending Corporation 5 6.65% $11,020
    NEW DAY FINANCIAL, LLC 5 7.37% $12,514
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.41% $14,482
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.13% $5,850
    Bank Five Nine 4 6.47% $5,942
    Ixonia Bank 4 6.75% $17,241
    U.S. Bank 3 6.54% $5,409
    First Federal Bank 3 5.33% $8,087
    Mr. Cooper ( Nationstar Mortgage ) 3 6.08% $6,564
    EAGLE HOME MORTGAGE, LLC 3 4.87% $6,402
    PLANET HOME LENDING, LLC 3 5.66% $4,351
    Armed Forces Bank 3 5.67% $8,145
    MOVEMENT MORTGAGE, LLC 3 6.54% $15,057
    VILLAGE CAPITAL MORTGAGE 3 5.66% $6,882
    The Federal Savings Bank 2 6.25% $15,273
    CLEARPATH LENDING 2 5.56% $3,974
    CMG MORTGAGE, INC. 2 6.19% $13,320
    Paramount Residential Mortgage Group, Inc. 2 6.31% $11,009
    Magnolia Bank 2 5.69% $16,831
    Johnson Bank 2 6.38% $2,317
    Wells Fargo Bank 1 7.13% $6,487
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $10,994
    A + MORTGAGE SERVICES, INC. 1 6.25% $10,865
    Bank First, N.A. 1 5.88% $3,780
    Bank of England 1 6.50% $19,311
    BAY EQUITY LLC 1 7.25% $6,742
    CARDINAL FINANCIAL 1 7.25% $20,503
    Equity Prime Mortgage LLC 1 5.50% $5,136
    Fifth Third Bank 1 6.38% $10,368
    FIRST COLONY MORTGAGE CORPORATION 1 6.88% $9,844
    Flagstar Bank, FSB 1 5.63% $18,598
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $6,254
    GoPrime Mortgage, Inc. 1 5.75% $3,768
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $1,090
    HOMESIDE FINANCIAL, LLC 1 6.49% $14,804
    JPMorgan Chase Bank 1 5.75% $3,384
    Meridian Bank Corporation 1 5.75% $6,712
    NBKC BANK 1 5.63% $1,039
    NORWICH COMMERCIAL GROUP, INC. 1 5.75% $8,320
    PENTAGON FEDERAL CREDIT UNION 1 6.63% $2,869
    PREMIA MORTGAGE, LLC 1 5.50% $1,840
    Servion, Inc. 1 6.75% $2,723
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $4,793
    The Huntington National Bank 1 6.75% $3,345
    UNION HOME MORTGAGE CORP. 1 7.13% $14,854
    University of Wisconsin Credit Union 1 7.13% $2,560
    Uwharrie Bank 1 6.00% $2,295
    AMERICAN FINANCING CORPORATION 1 5.25% $19,079

    The top Madison VA lender as defined by loan originations is Mortgage Research Center, LLC, with 61 VA loans originated. Their average total fees are $6,975, which is $1,229 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Madison VA lenders (with over 10 loans originated) are Barrington Bank & Trust Company, N.A. ($4,826), Bell Bank ($4,989), NAVY FEDERAL CREDIT UNION ($5,554), NEWREZ LLC ($5,778) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,627).

    The lowest rate Madison VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.70%), PENNYMAC LOAN SERVICES, LLC (5.77%), NAVY FEDERAL CREDIT UNION (5.90%), Bell Bank (6.03%) and QUICKEN LOANS, LLC (6.13%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Madison (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 $329,950 (6.5%) $385,501 (7.8%) 1.22 1,107
    2018-02-01 $349,900 (8.5%) $399,648 (7.5%) 1.27 1,087
    2018-03-01 $355,000 (6.0%) $405,647 (4.7%) 1.25 1,186
    2018-04-01 $357,925 (1.8%) $412,380 (2.6%) 1.21 1,300
    2018-05-01 $349,900 (0.0%) $406,013 (1.8%) 1.17 1,405
    2018-06-01 $340,000 (-0.7%) $396,388 (1.4%) 1.13 1,585
    2018-07-01 $339,900 (3.0%) $392,600 (1.4%) 1.14 1,697
    2018-08-01 $332,225 (1.8%) $390,430 (3.2%) 1.11 1,807
    2018-09-01 $334,900 (5.0%) $395,759 (5.7%) 1.13 1,880
    2018-10-01 $329,900 (7.3%) $395,787 (8.2%) 1.12 1,857
    2018-11-01 $329,900 (4.8%) $392,723 (6.2%) 1.12 1,668
    2018-12-01 $329,900 (3.1%) $389,081 (3.3%) 1.14 1,408
    2019-01-01 $339,950 (3.0%) $404,183 (4.9%) 1.17 1,260
    2019-02-01 $365,425 (4.4%) $427,426 (7.0%) 1.23 1,186
    2019-03-01 $370,614 (4.4%) $435,316 (7.3%) 1.21 1,226
    2019-04-01 $368,114 (2.9%) $428,486 (3.9%) 1.17 1,327
    2019-05-01 $366,000 (4.6%) $430,442 (6.0%) 1.14 1,446
    2019-06-01 $365,000 (7.4%) $430,603 (8.6%) 1.14 1,555
    2019-07-01 $352,548 (3.7%) $418,240 (6.5%) 1.10 1,644
    2019-08-01 $347,245 (4.5%) $411,643 (5.4%) 1.10 1,707
    2019-09-01 $343,114 (2.5%) $406,247 (2.7%) 1.10 1,774
    2019-10-01 $339,975 (3.1%) $402,861 (1.8%) 1.10 1,797
    2019-11-01 $340,000 (3.1%) $404,891 (3.1%) 1.11 1,572
    2019-12-01 $346,650 (5.1%) $405,915 (4.3%) 1.16 1,270
    2020-01-01 $347,400 (2.2%) $411,648 (1.9%) 1.16 1,135
    2020-02-01 $369,000 (1.0%) $442,937 (3.6%) 1.21 1,100
    2020-03-01 $372,423 (0.5%) $451,628 (3.8%) 1.17 1,161
    2020-04-01 $379,450 (3.1%) $450,976 (5.3%) 1.19 1,231
    2020-05-01 $385,000 (5.2%) $451,984 (5.0%) 1.17 1,171
    2020-06-01 $387,450 (6.2%) $458,023 (6.4%) 1.14 1,129
    2020-07-01 $377,450 (7.1%) $453,413 (8.4%) 1.09 1,107
    2020-08-01 $366,500 (5.5%) $452,117 (9.8%) 1.05 1,066
    2020-09-01 $359,950 (4.9%) $443,358 (9.1%) 1.03 1,033
    2020-10-01 $359,900 (5.9%) $435,206 (8.0%) 1.03 1,054
    2020-11-01 $364,625 (7.2%) $438,753 (8.4%) 1.07 863
    2020-12-01 $362,000 (4.4%) $438,654 (8.1%) 1.08 666
    2021-01-01 $374,900 (7.9%) $455,263 (10.6%) 1.12 537
    2021-02-01 $387,950 (5.1%) $477,477 (7.8%) 1.13 468
    2021-03-01 $385,175 (3.4%) $468,221 (3.7%) 1.09 468
    2021-04-01 $382,000 (0.7%) $469,401 (4.1%) 1.03 524
    2021-05-01 $387,500 (0.7%) $469,350 (3.8%) 1.03 546
    2021-06-01 $385,000 (-0.6%) $475,214 (3.8%) 1.01 650
    2021-07-01 $385,900 (2.2%) $466,992 (3.0%) 1.02 791
    2021-08-01 $382,400 (4.3%) $463,590 (2.5%) 1.02 893
    2021-09-01 $374,900 (4.2%) $455,525 (2.7%) 1.00 919
    2021-10-01 $375,000 (4.2%) $451,680 (3.8%) 1.00 881
    2021-11-01 $380,650 (4.4%) $455,106 (3.7%) 1.02 706
    2021-12-01 $387,400 (7.0%) $458,974 (4.6%) 1.05 533
    2022-01-01 $389,900 (4.0%) $465,127 (2.2%) 1.05 410
    2022-02-01 $399,900 (3.1%) $481,607 (0.9%) 1.04 389
    2022-03-01 $399,913 (3.8%) $474,941 (1.4%) 1.00 434
    2022-04-01 $405,500 (6.2%) $475,857 (1.4%) 0.97 512
    2022-05-01 $407,450 (5.2%) $489,440 (4.3%) 0.93 618
    2022-06-01 $415,250 (7.9%) $510,703 (7.5%) 0.92 726
    2022-07-01 $410,000 (6.3%) $515,305 (10.4%) 0.92 849
    2022-08-01 $412,425 (7.9%) $521,517 (12.5%) 0.95 847
    2022-09-01 $405,000 (8.0%) $514,164 (12.9%) 0.95 827
    2022-10-01 $409,900 (9.3%) $526,655 (16.6%) 0.96 867
    2022-11-01 $417,950 (9.8%) $524,625 (15.3%) 1.00 819
    2022-12-01 $424,150 (9.5%) $522,661 (13.9%) 1.05 641
    2023-01-01 $443,550 (13.8%) $547,947 (17.8%) 1.10 568
    2023-02-01 $446,400 (11.6%) $566,079 (17.5%) 1.08 507
    2023-03-01 $463,650 (15.9%) $577,980 (21.7%) 1.09 500
    2023-04-01 $479,900 (18.4%) $597,180 (25.5%) 1.12 524
    2023-05-01 $469,450 (15.2%) $584,894 (19.5%) 1.06 574
    2023-06-01 $476,275 (14.7%) $574,636 (12.5%) 1.07 626
    2023-07-01 $479,900 (17.1%) $574,351 (11.5%) 1.09 657
    2023-08-01 $481,500 (16.8%) $571,351 (9.6%) 1.11 686
    2023-09-01 $475,000 (17.3%) $570,783 (11.0%) 1.11 773
    2023-10-01 $469,900 (14.6%) $566,843 (7.6%) 1.11 802
    2023-11-01 $466,700 (11.7%) $560,972 (6.9%) 1.11 765
    2023-12-01 $479,950 (13.2%) $565,274 (8.2%) 1.17 652
    2024-01-01 $492,400 (11.0%) $597,049 (9.0%) 1.20 550
    2024-02-01 $494,475 (10.8%) $597,391 (5.5%) 1.19 537
    2024-03-01 $475,000 (2.5%) $578,084 (0.0%) 1.12 603
    2024-04-01 $492,175 (2.6%) $586,010 (-1.9%) 1.14 647
    2024-05-01 $499,900 (6.5%) $592,555 (1.3%) 1.14 719
    2024-06-01 $495,000 (3.9%) $578,667 (0.7%) 1.13 860
    2024-07-01 $474,900 (-1.0%) $567,457 (-1.2%) 1.09 934
    2024-08-01 $469,850 (-2.4%) $567,190 (-0.7%) 1.09 1,029
    2024-09-01 $461,725 (-2.8%) $553,773 (-3.0%) 1.09 1,100
    2024-10-01 $453,835 (-3.4%) $554,370 (-2.2%) 1.07 1,082
    2024-11-01 $454,900 (-2.5%) $547,237 (-2.5%) 1.09 1,041
    2024-12-01 $450,000 (-6.2%) $557,539 (-1.4%) 1.12 796
    2025-01-01 $453,867 (-7.8%) $554,198 (-7.2%) 1.13 686
    2025-02-01 $469,925 (-5.0%) $579,770 (-3.0%) 1.14 698
    2025-03-01 $485,000 (2.1%) $610,205 (5.6%) 0.00 755
    Madison's median listing price for 2025-03-01 was $485,000, a difference of $10,000 (2.1%) versus the prior year and $15,075 versus the prior month.

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

    Madison's average listing price for 2025-03-01 was $610,205, a difference of $32,121 (5.6%) versus the prior year and $30,435 versus the prior month.

    For the 2025-03-01 period, Madison had 755 MLS listings, a difference of 57 listings (8%) versus the prior month and 152 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 87 days 1,990 sqft
    2018-02-01 66 days 2,060 sqft
    2018-03-01 40 days 2,125 sqft
    2018-04-01 41 days 2,158 sqft
    2018-05-01 41 days 2,158 sqft
    2018-06-01 43 days 2,144 sqft
    2018-07-01 45 days 2,099 sqft
    2018-08-01 48 days 2,074 sqft
    2018-09-01 52 days 2,054 sqft
    2018-10-01 59 days 2,022 sqft
    2018-11-01 66 days 2,016 sqft
    2018-12-01 74 days 1,966 sqft
    2019-01-01 81 days 1,996 sqft
    2019-02-01 73 days 2,119 sqft
    2019-03-01 59 days 2,177 sqft
    2019-04-01 45 days 2,169 sqft
    2019-05-01 40 days 2,167 sqft
    2019-06-01 43 days 2,149 sqft
    2019-07-01 46 days 2,119 sqft
    2019-08-01 50 days 2,108 sqft
    2019-09-01 56 days 2,072 sqft
    2019-10-01 60 days 2,047 sqft
    2019-11-01 73 days 2,019 sqft
    2019-12-01 94 days 2,009 sqft
    2020-01-01 94 days 1,989 sqft
    2020-02-01 74 days 2,076 sqft
    2020-03-01 48 days 2,106 sqft
    2020-04-01 50 days 2,160 sqft
    2020-05-01 60 days 2,171 sqft
    2020-06-01 66 days 2,163 sqft
    2020-07-01 57 days 2,115 sqft
    2020-08-01 57 days 2,070 sqft
    2020-09-01 52 days 2,005 sqft
    2020-10-01 49 days 1,957 sqft
    2020-11-01 55 days 1,927 sqft
    2020-12-01 65 days 1,900 sqft
    2021-01-01 65 days 1,918 sqft
    2021-02-01 43 days 1,986 sqft
    2021-03-01 35 days 1,965 sqft
    2021-04-01 30 days 1,977 sqft
    2021-05-01 36 days 2,049 sqft
    2021-06-01 34 days 2,017 sqft
    2021-07-01 36 days 1,964 sqft
    2021-08-01 37 days 1,937 sqft
    2021-09-01 41 days 1,905 sqft
    2021-10-01 45 days 1,888 sqft
    2021-11-01 52 days 1,833 sqft
    2021-12-01 60 days 1,790 sqft
    2022-01-01 61 days 1,790 sqft
    2022-02-01 41 days 1,810 sqft
    2022-03-01 31 days 1,875 sqft
    2022-04-01 30 days 1,860 sqft
    2022-05-01 31 days 1,906 sqft
    2022-06-01 35 days 1,985 sqft
    2022-07-01 37 days 1,975 sqft
    2022-08-01 44 days 1,955 sqft
    2022-09-01 47 days 1,943 sqft
    2022-10-01 46 days 1,959 sqft
    2022-11-01 53 days 1,960 sqft
    2022-12-01 68 days 1,920 sqft
    2023-01-01 76 days 1,958 sqft
    2023-02-01 59 days 1,962 sqft
    2023-03-01 40 days 1,970 sqft
    2023-04-01 36 days 2,052 sqft
    2023-05-01 34 days 2,003 sqft
    2023-06-01 39 days 2,016 sqft
    2023-07-01 42 days 2,024 sqft
    2023-08-01 41 days 2,024 sqft
    2023-09-01 46 days 2,064 sqft
    2023-10-01 49 days 2,015 sqft
    2023-11-01 56 days 1,999 sqft
    2023-12-01 66 days 1,982 sqft
    2024-01-01 69 days 1,972 sqft
    2024-02-01 49 days 1,991 sqft
    2024-03-01 41 days 1,920 sqft
    2024-04-01 40 days 1,928 sqft
    2024-05-01 34 days 1,985 sqft
    2024-06-01 40 days 1,964 sqft
    2024-07-01 44 days 1,920 sqft
    2024-08-01 44 days 1,920 sqft
    2024-09-01 46 days 1,908 sqft
    2024-10-01 52 days 1,915 sqft
    2024-11-01 59 days 1,901 sqft
    2024-12-01 69 days 1,891 sqft
    2025-01-01 73 days 1,883 sqft
    2025-02-01 53 days 1,904 sqft
    2025-03-01 0 days 1,912 sqft
    Madison's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Madison's median square footage for active listings during the 2025-03-01 period was 1,912 sqft. One year prior, the average listing was 1,920 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.