Marquette VA Loan Rates, Closing Costs & Stats

Marquette, 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.

    Marquette's 19 lenders originated 57 VA loans during 2023. The total origination value was $12,945,000, with an average VA loan value of $227,105.

    Marquette VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Marquette averaged 0.45% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Marquette's average VA mortgage closing costs are $4,256.

    The average rate for the prior week (2024-11-08) was 6.56% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.62%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.86% $4,875
    The Huntington National Bank 5 7.03% $4,119
    USAA Federal Savings Bank 4 6.28% $4,624
    QUICKEN LOANS, LLC 3 5.87% $9,352
    NAVY FEDERAL CREDIT UNION 2 5.88% $3,928
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $16,465
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $4,785
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $6,182
    NEW DAY FINANCIAL, LLC 1 7.75% $11,793
    Paramount Residential Mortgage Group, Inc. 1 7.13% $2,899
    SUMMIT FUNDING, INC. 1 5.75% $24,000
    UNITED WHOLESALE MORTGAGE, LLC 1 7.25% $0
    Armed Forces Bank 1 7.13% $2,185
    Wells Fargo Bank 1 6.63% $0
    Barrington Bank & Trust Company, N.A. 1 6.75% $2,440
    Citizens Bank 1 6.38% $2,388
    First Merchants Bank 1 6.63% $5,216
    FREEDOM MORTGAGE CORPORATION 1 6.25% $8,107
    LOANDEPOT.COM, LLC 1 5.63% $2,623

    The top Marquette VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $4,875, which is $755 higher than the next largest lender, The Huntington National Bank.

    The lowest fee Marquette VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,875), .

    The lowest rate Marquette VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.86%), .

    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 (12.0%) $410,398 (73.4%) 0.00 329
    2018-02-01 $169,900 (11.0%) $440,510 (83.6%) 0.00 301
    2018-03-01 $174,500 (9.1%) $445,632 (84.7%) 0.00 303
    2018-04-01 $179,150 (5.4%) $443,281 (69.3%) 0.00 310
    2018-05-01 $188,200 (10.8%) $435,812 (71.1%) 0.00 336
    2018-06-01 $184,500 (9.8%) $392,320 (57.0%) 0.00 388
    2018-07-01 $189,575 (11.6%) $381,634 (50.8%) 0.00 416
    2018-08-01 $189,900 (11.8%) $360,330 (43.6%) 0.00 430
    2018-09-01 $179,999 (12.6%) $384,761 (32.4%) 0.00 444
    2018-10-01 $184,550 (15.4%) $390,794 (25.5%) 0.00 420
    2018-11-01 $179,900 (15.2%) $400,366 (12.9%) 0.00 389
    2018-12-01 $189,700 (20.5%) $424,558 (13.8%) 0.00 340
    2019-01-01 $189,250 (14.8%) $454,992 (10.9%) 0.00 286
    2019-02-01 $187,250 (10.2%) $470,302 (6.8%) 0.00 273
    2019-03-01 $198,243 (13.6%) $425,936 (-4.4%) 0.00 262
    2019-04-01 $210,450 (17.5%) $358,943 (-19.0%) 0.00 255
    2019-05-01 $209,500 (11.3%) $352,392 (-19.1%) 0.00 271
    2019-06-01 $210,000 (13.8%) $326,032 (-16.9%) 0.00 336
    2019-07-01 $196,450 (3.6%) $307,087 (-19.5%) 0.00 363
    2019-08-01 $188,564 (-0.7%) $300,993 (-16.5%) 0.00 373
    2019-09-01 $186,559 (3.6%) $294,575 (-23.4%) 0.00 382
    2019-10-01 $185,200 (0.4%) $287,846 (-26.3%) 0.00 387
    2019-11-01 $178,800 (-0.6%) $254,108 (-36.5%) 0.00 348
    2019-12-01 $179,900 (-5.2%) $264,576 (-37.7%) 0.00 296
    2020-01-01 $177,600 (-6.2%) $261,968 (-42.4%) 0.00 240
    2020-02-01 $189,900 (1.4%) $307,578 (-34.6%) 0.00 221
    2020-03-01 $190,450 (-3.9%) $325,167 (-23.7%) 0.00 204
    2020-04-01 $208,325 (-1.0%) $330,346 (-8.0%) 0.00 201
    2020-05-01 $210,000 (0.2%) $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 (12.6%) $379,384 (23.5%) 0.00 206
    2020-08-01 $209,500 (11.1%) $344,467 (14.4%) 0.00 196
    2020-09-01 $199,875 (7.1%) $356,466 (21.0%) 0.00 181
    2020-10-01 $189,500 (2.3%) $361,040 (25.4%) 0.00 166
    2020-11-01 $182,425 (2.0%) $333,031 (31.1%) 0.00 151
    2020-12-01 $185,450 (3.1%) $337,338 (27.5%) 0.00 132
    2021-01-01 $189,500 (6.7%) $360,236 (37.5%) 0.00 110
    2021-02-01 $214,000 (12.7%) $426,282 (38.6%) 0.00 88
    2021-03-01 $222,200 (16.7%) $408,137 (25.5%) 0.00 104
    2021-04-01 $233,625 (12.1%) $448,254 (35.7%) 0.00 97
    2021-05-01 $249,900 (19.0%) $428,702 (33.1%) 0.00 118
    2021-06-01 $249,700 (24.9%) $419,705 (14.8%) 0.00 132
    2021-07-01 $250,000 (13.0%) $421,792 (11.2%) 0.00 133
    2021-08-01 $250,000 (19.3%) $441,228 (28.1%) 0.00 129
    2021-09-01 $292,175 (46.2%) $447,700 (25.6%) 0.00 116
    2021-10-01 $250,000 (31.9%) $451,875 (25.2%) 0.00 101
    2021-11-01 $221,175 (21.2%) $464,758 (39.6%) 0.00 77
    2021-12-01 $183,700 (-0.9%) $429,432 (27.3%) 0.00 74
    2022-01-01 $188,500 (-0.5%) $464,400 (28.9%) 0.00 61
    2022-02-01 $229,725 (7.4%) $500,450 (17.4%) 0.00 59
    2022-03-01 $265,000 (19.3%) $574,008 (40.6%) 0.00 45
    2022-04-01 $201,950 (-13.6%) $534,160 (19.2%) 0.00 49
    2022-05-01 $208,450 (-16.6%) $297,377 (-30.6%) 0.00 65
    2022-06-01 $239,900 (-3.9%) $373,476 (-11.0%) 0.00 89
    2022-07-01 $242,450 (-3.0%) $380,233 (-9.9%) 0.00 112
    2022-08-01 $254,200 (1.7%) $394,928 (-10.5%) 0.00 124
    2022-09-01 $241,750 (-17.3%) $404,000 (-9.8%) 0.00 120
    2022-10-01 $249,999 (0.0%) $432,068 (-4.4%) 0.00 106
    2022-11-01 $265,000 (19.8%) $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 (45.8%) $525,809 (-1.6%) 0.00 47
    2023-05-01 $294,725 (41.4%) $464,109 (56.1%) 0.00 69
    2023-06-01 $332,400 (38.6%) $449,910 (20.5%) 0.00 80
    2023-07-01 $326,950 (34.9%) $455,785 (19.9%) 0.00 111
    2023-08-01 $299,675 (17.9%) $452,546 (14.6%) 0.00 121
    2023-09-01 $304,900 (26.1%) $441,774 (9.4%) 0.00 124
    2023-10-01 $332,450 (33.0%) $446,284 (3.3%) 0.00 120
    2023-11-01 $336,000 (26.8%) $458,605 (4.8%) 0.00 107
    2023-12-01 $364,950 (33.9%) $488,693 (9.7%) 0.00 91
    2024-01-01 $328,000 (28.3%) $461,550 (2.4%) 0.00 74
    2024-02-01 $332,425 (25.9%) $460,532 (-4.2%) 0.00 74
    2024-03-01 $329,900 (4.2%) $477,401 (-5.9%) 0.00 77
    2024-04-01 $330,475 (12.2%) $480,799 (-8.6%) 0.00 87
    2024-05-01 $340,000 (15.4%) $494,344 (6.5%) 0.00 100
    2024-06-01 $375,000 (12.8%) $513,234 (14.1%) 0.00 103
    2024-07-01 $349,000 (6.7%) $495,731 (8.8%) 0.00 107
    2024-08-01 $299,450 (-0.1%) $445,262 (-1.6%) 0.00 122
    2024-09-01 $294,450 (-3.4%) $434,606 (-1.6%) 0.00 114
    2024-10-01 $306,975 (-7.7%) $487,030 (9.1%) 0.00 115
    Marquette's median listing price for 2024-10-01 was $306,975, a difference of $-25,475 (-7.7%) versus the prior year and $12,525 versus the prior month.

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

    Marquette's average listing price for 2024-10-01 was $487,030, a difference of $40,746 (9.1%) versus the prior year and $52,424 versus the prior month.

    For the 2024-10-01 period, Marquette had 115 MLS listings, a difference of 1 listings (1%) versus the prior month and -5 listings (-4%) 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
    2024-01-01 0 days 1,312 sqft
    2024-02-01 0 days 1,513 sqft
    2024-03-01 0 days 1,584 sqft
    2024-04-01 0 days 1,619 sqft
    2024-05-01 0 days 1,692 sqft
    2024-06-01 0 days 1,678 sqft
    2024-07-01 0 days 1,680 sqft
    2024-08-01 0 days 1,674 sqft
    2024-09-01 0 days 1,740 sqft
    2024-10-01 0 days 1,795 sqft
    Marquette's median listing age (time on market) for 2024-10-01 was 0 days.

    Marquette's median square footage for active listings during the 2024-10-01 period was 1,795 sqft. One year prior, the average listing was 1,409 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.