Marquette VA Loan Rates, Closing Costs & Stats

Marquette, MI

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.

Marquette's 22 lenders originated 81 VA loans during 2022. The total origination value was $19,445,000, with an average VA loan value of $240,062.

Marquette VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Marquette averaged 0.11% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Marquette's average VA mortgage closing costs are $4,126.

The average rate for the prior week (2024-02-16) was 6.68% and one month ago for the week of 2024-01-19, the average rate was 6.24%.

The average rate one year ago was 6.15%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.86%.

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

Marquette 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 Marquette level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 16 5.09% $5,569
QUICKEN LOANS, LLC 11 4.08% $9,074
USAA Federal Savings Bank 6 3.92% $3,650
Flagstar Bank, FSB 6 4.50% $4,454
UNITED WHOLESALE MORTGAGE, LLC 5 3.91% $9,465
FREEDOM MORTGAGE CORPORATION 5 3.83% $2,644
The Huntington National Bank 5 4.68% $2,747
NEW DAY FINANCIAL, LLC 4 5.81% $5,377
NAVY FEDERAL CREDIT UNION 3 4.00% $3,268
HOME POINT FINANCIAL CORPORATION 3 4.25% $8,458
Wells Fargo Bank 2 4.88% $3,909
MICHIGAN MUTUAL, INC. 1 4.63% $10,348
LOANDEPOT.COM, LLC 1 5.25% $4,680
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $14,051
Northpointe Bank 1 2.88% $673
JPMorgan Chase Bank 1 5.38% $4,256
The Federal Savings Bank 1 6.25% $9,890
Ixonia Bank 1 5.00% $3,394
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.38% $7,152
Capital Bank 1 4.25% $27,823
VILLAGE CAPITAL MORTGAGE 1 3.88% $6,116
American Bank & Trust 1 5.25% $4,735

The top Marquette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $5,569, which is $3,505 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Marquette VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,569), QUICKEN LOANS, LLC ($9,074), .

The lowest rate Marquette VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.08%), Mortgage Research Center, LLC (5.09%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Marquette (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 $164,900 (13.3%) $410,398 (73.4%) 0.00 329
2018-02-01 $169,900 (12.9%) $440,510 (83.6%) 0.00 301
2018-03-01 $174,500 (11.4%) $445,632 (84.7%) 0.00 303
2018-04-01 $179,150 (7.2%) $443,281 (69.3%) 0.00 310
2018-05-01 $188,200 (9.1%) $435,812 (71.1%) 0.00 336
2018-06-01 $184,500 (8.9%) $392,320 (57.0%) 0.00 388
2018-07-01 $189,575 (11.7%) $381,634 (50.8%) 0.00 416
2018-08-01 $189,900 (11.4%) $360,330 (43.6%) 0.00 430
2018-09-01 $179,999 (11.3%) $384,761 (32.4%) 0.00 444
2018-10-01 $184,550 (13.4%) $390,794 (25.5%) 0.00 420
2018-11-01 $179,900 (14.2%) $400,366 (12.9%) 0.00 389
2018-12-01 $189,700 (18.8%) $424,558 (13.8%) 0.00 340
2019-01-01 $189,250 (10.2%) $454,992 (10.9%) 0.00 286
2019-02-01 $187,250 (5.4%) $470,302 (6.8%) 0.00 273
2019-03-01 $198,243 (8.8%) $425,936 (-4.4%) 0.00 262
2019-04-01 $210,450 (9.7%) $358,943 (-19.0%) 0.00 255
2019-05-01 $209,500 (7.9%) $352,392 (-19.1%) 0.00 271
2019-06-01 $210,000 (13.5%) $326,032 (-16.9%) 0.00 336
2019-07-01 $196,450 (5.1%) $307,087 (-19.5%) 0.00 363
2019-08-01 $188,564 (1.7%) $300,993 (-16.5%) 0.00 373
2019-09-01 $186,559 (2.9%) $294,575 (-23.4%) 0.00 382
2019-10-01 $185,200 (-0.8%) $287,846 (-26.3%) 0.00 387
2019-11-01 $178,800 (-2.1%) $254,108 (-36.5%) 0.00 348
2019-12-01 $179,900 (-5.5%) $264,576 (-37.7%) 0.00 296
2020-01-01 $177,600 (-5.0%) $261,968 (-42.4%) 0.00 240
2020-02-01 $189,900 (2.9%) $307,578 (-34.6%) 0.00 221
2020-03-01 $190,450 (-2.1%) $325,167 (-23.7%) 0.00 204
2020-04-01 $208,325 (1.2%) $330,346 (-8.0%) 0.00 201
2020-05-01 $210,000 (4.2%) $322,024 (-8.6%) 0.00 204
2020-06-01 $199,900 (-4.8%) $365,565 (12.1%) 0.00 211
2020-07-01 $221,200 (11.6%) $379,384 (23.5%) 0.00 206
2020-08-01 $209,500 (10.8%) $344,467 (14.4%) 0.00 196
2020-09-01 $199,875 (4.6%) $356,466 (21.0%) 0.00 181
2020-10-01 $189,500 (-0.3%) $361,040 (25.4%) 0.00 166
2020-11-01 $182,425 (0.0%) $333,031 (31.1%) 0.00 151
2020-12-01 $185,450 (1.3%) $337,338 (27.5%) 0.00 132
2021-01-01 $189,500 (6.4%) $360,236 (37.5%) 0.00 110
2021-02-01 $214,000 (4.2%) $426,282 (38.6%) 0.00 88
2021-03-01 $222,200 (13.9%) $408,137 (25.5%) 0.00 104
2021-04-01 $233,625 (5.8%) $448,254 (35.7%) 0.00 97
2021-05-01 $249,900 (7.7%) $428,702 (33.1%) 0.00 118
2021-06-01 $249,700 (20.6%) $419,705 (14.8%) 0.00 132
2021-07-01 $250,000 (7.3%) $421,792 (11.2%) 0.00 133
2021-08-01 $250,000 (11.6%) $441,228 (28.1%) 0.00 129
2021-09-01 $292,175 (31.6%) $447,700 (25.6%) 0.00 116
2021-10-01 $250,000 (32.4%) $451,875 (25.2%) 0.00 101
2021-11-01 $221,175 (23.7%) $464,758 (39.6%) 0.00 77
2021-12-01 $183,700 (1.1%) $429,432 (27.3%) 0.00 74
2022-01-01 $188,500 (-0.3%) $464,400 (28.9%) 0.00 61
2022-02-01 $229,725 (16.2%) $500,450 (17.4%) 0.00 59
2022-03-01 $265,000 (22.6%) $574,008 (40.6%) 0.00 45
2022-04-01 $201,950 (2.8%) $534,160 (19.2%) 0.00 49
2022-05-01 $208,450 (-7.8%) $297,377 (-30.6%) 0.00 65
2022-06-01 $239,900 (-0.4%) $373,476 (-11.0%) 0.00 89
2022-07-01 $242,450 (2.6%) $380,233 (-9.9%) 0.00 112
2022-08-01 $254,200 (6.8%) $394,928 (-10.5%) 0.00 124
2022-09-01 $241,750 (-3.9%) $404,000 (-9.8%) 0.00 120
2022-10-01 $249,999 (8.2%) $432,068 (-4.4%) 0.00 106
2022-11-01 $265,000 (20.9%) $437,651 (-5.8%) 0.00 92
2022-12-01 $272,500 (48.3%) $445,368 (3.7%) 0.00 74
2023-01-01 $255,750 (35.7%) $450,665 (-3.0%) 0.00 69
2023-02-01 $264,000 (14.9%) $480,578 (-4.0%) 0.00 52
2023-03-01 $316,475 (19.4%) $507,234 (-11.6%) 0.00 46
2023-04-01 $294,500 (33.9%) $525,809 (-1.6%) 0.00 47
2023-05-01 $294,725 (39.0%) $464,109 (56.1%) 0.00 69
2023-06-01 $332,400 (36.5%) $449,910 (20.5%) 0.00 80
2023-07-01 $326,950 (33.1%) $455,785 (19.9%) 0.00 111
2023-08-01 $299,675 (16.4%) $452,546 (14.6%) 0.00 121
2023-09-01 $304,900 (20.1%) $441,774 (9.4%) 0.00 124
2023-10-01 $332,450 (24.4%) $446,284 (3.3%) 0.00 120
2023-11-01 $336,000 (23.0%) $458,605 (4.8%) 0.00 107
2023-12-01 $364,950 (0.0%) $488,693 (9.7%) 0.00 91
Marquette's median listing price for 2023-12-01 was $364,950, a difference of $92,450 (0.0%) versus the prior year and $28,950 versus the prior month.

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

Marquette's average listing price for 2023-12-01 was $488,693, a difference of $43,325 (9.7%) versus the prior year and $30,088 versus the prior month.

For the 2023-12-01 period, Marquette had 91 MLS listings, a difference of -16 listings (-15%) versus the prior month and 17 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Marquette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,618 sqft
2018-02-01 0 days 1,624 sqft
2018-03-01 0 days 1,603 sqft
2018-04-01 0 days 1,604 sqft
2018-05-01 0 days 1,585 sqft
2018-06-01 0 days 1,540 sqft
2018-07-01 0 days 1,534 sqft
2018-08-01 0 days 1,553 sqft
2018-09-01 0 days 1,544 sqft
2018-10-01 0 days 1,540 sqft
2018-11-01 0 days 1,515 sqft
2018-12-01 0 days 1,512 sqft
2019-01-01 0 days 1,494 sqft
2019-02-01 0 days 1,493 sqft
2019-03-01 0 days 1,495 sqft
2019-04-01 0 days 1,517 sqft
2019-05-01 0 days 1,527 sqft
2019-06-01 0 days 1,576 sqft
2019-07-01 0 days 1,560 sqft
2019-08-01 0 days 1,568 sqft
2019-09-01 0 days 1,579 sqft
2019-10-01 0 days 1,586 sqft
2019-11-01 0 days 1,552 sqft
2019-12-01 0 days 1,569 sqft
2020-01-01 0 days 1,560 sqft
2020-02-01 0 days 1,568 sqft
2020-03-01 0 days 1,534 sqft
2020-04-01 0 days 1,528 sqft
2020-05-01 0 days 1,520 sqft
2020-06-01 0 days 1,486 sqft
2020-07-01 0 days 1,544 sqft
2020-08-01 0 days 1,494 sqft
2020-09-01 0 days 1,479 sqft
2020-10-01 0 days 1,440 sqft
2020-11-01 0 days 1,352 sqft
2020-12-01 0 days 1,348 sqft
2021-01-01 0 days 1,430 sqft
2021-02-01 0 days 1,526 sqft
2021-03-01 0 days 1,560 sqft
2021-04-01 0 days 1,560 sqft
2021-05-01 0 days 1,560 sqft
2021-06-01 0 days 1,560 sqft
2021-07-01 0 days 1,560 sqft
2021-08-01 0 days 1,560 sqft
2021-09-01 0 days 1,560 sqft
2021-10-01 0 days 1,555 sqft
2021-11-01 0 days 1,531 sqft
2021-12-01 0 days 1,314 sqft
2022-01-01 0 days 1,316 sqft
2022-02-01 0 days 1,496 sqft
2022-03-01 0 days 1,389 sqft
2022-04-01 0 days 1,352 sqft
2022-05-01 0 days 1,387 sqft
2022-06-01 0 days 1,555 sqft
2022-07-01 0 days 1,491 sqft
2022-08-01 0 days 1,599 sqft
2022-09-01 0 days 1,471 sqft
2022-10-01 0 days 1,359 sqft
2022-11-01 0 days 1,433 sqft
2022-12-01 0 days 1,350 sqft
2023-01-01 0 days 1,279 sqft
2023-02-01 0 days 1,274 sqft
2023-03-01 0 days 1,414 sqft
2023-04-01 0 days 1,597 sqft
2023-05-01 0 days 1,592 sqft
2023-06-01 0 days 1,503 sqft
2023-07-01 0 days 1,339 sqft
2023-08-01 0 days 1,349 sqft
2023-09-01 0 days 1,443 sqft
2023-10-01 0 days 1,409 sqft
2023-11-01 0 days 1,362 sqft
2023-12-01 0 days 1,527 sqft
Marquette's median listing age (time on market) for 2023-12-01 was 0 days.

Marquette's median square footage for active listings during the 2023-12-01 period was 1,527 sqft. One year prior, the average listing was 1,350 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.