Marinette VA Loan Rates, Closing Costs & Stats

Marinette, WI-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.

    Marinette's 23 lenders originated 64 VA loans during 2023. The total origination value was $13,290,000, with an average VA loan value of $207,656.

    Marinette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Marinette averaged 6.47% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Marinette's average VA mortgage closing costs are $4,152.

    The average rate for the prior week (2024-11-01) was 6.42% and one month ago for the week of 2024-10-04, the average rate was 5.85%.

    The average rate one year ago was 7.41%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Marinette 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 Marinette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 17 6.94% $5,031
    UNITED WHOLESALE MORTGAGE, LLC 6 6.86% $4,515
    NAVY FEDERAL CREDIT UNION 5 5.75% $5,935
    QUICKEN LOANS, LLC 5 6.22% $6,632
    Barrington Bank & Trust Company, N.A. 3 6.04% $5,839
    Flagstar Bank, FSB 2 7.50% $3,717
    AMERISAVE MORTGAGE CORPORATION 2 6.50% $12,111
    HOMESIDE FINANCIAL, LLC 2 6.94% $9,980
    Mr. Cooper ( Nationstar Mortgage ) 2 7.00% $14,436
    NEW DAY FINANCIAL, LLC 2 7.18% $11,326
    NEWREZ LLC 2 7.00% $11,503
    Plains Commerce Bank 1 5.75% $10,969
    USAA Federal Savings Bank 1 6.63% $4,238
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $3,752
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $2,844
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $8,156
    FREEDOM MORTGAGE CORPORATION 1 7.25% $23,117
    GSF Mortgage Corporation 1 6.63% $3,657
    GUARANTEED RATE, INC. 1 7.38% $4,019
    LAKEVIEW LOAN SERVICING, LLC 1 7.25% $6,711
    MICHIGAN MUTUAL, INC. 1 4.75% $8,494
    MOVEMENT MORTGAGE, LLC 1 6.75% $8,790
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $3,666

    The top Marinette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $5,031, which is $517 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Marinette VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,031), .

    The lowest rate Marinette VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.94%), .

    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.