Michigan City VA Loan Rates, Closing Costs & Stats
MICHIGAN CITY-LA PORTE, IN
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.
Michigan City's 33 lenders originated 86 VA loans during 2023. The total origination value was $21,310,000, with an average VA loan value of $247,791.
Michigan City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Michigan City
averaged
0.69%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Michigan City's average VA mortgage closing costs are $5,094.
The average rate for the prior week (2024-11-22) was
6.66% and
one month ago for the week of 2024-10-25, the
average rate was 6.76%.
The average rate one year ago was 7.3%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
Michigan City 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 Michigan City level.
The top Michigan City VA lender as defined by loan originations is Mortgage Research Center, LLC, with
21 VA loans originated. Their average total fees are
$4,552, which is $4,763
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Michigan City VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,552), .
The lowest rate Michigan City VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC (6.82%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Michigan City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $179,900 (37.4%) | $285,635 (4.2%) | 0.00 | 316 |
2018-02-01 | $181,200 (24.8%) | $293,424 (2.8%) | 0.00 | 290 |
2018-03-01 | $209,950 (22.1%) | $314,589 (3.6%) | 0.00 | 293 |
2018-04-01 | $231,450 (25.2%) | $318,956 (2.6%) | 0.00 | 297 |
2018-05-01 | $245,450 (5.4%) | $323,876 (-3.8%) | 0.00 | 334 |
2018-06-01 | $249,900 (6.4%) | $343,073 (2.5%) | 0.00 | 353 |
2018-07-01 | $239,450 (4.2%) | $329,026 (-1.2%) | 0.00 | 378 |
2018-08-01 | $237,300 (1.0%) | $316,654 (-4.9%) | 0.00 | 381 |
2018-09-01 | $234,900 (5.0%) | $333,333 (2.7%) | 0.00 | 384 |
2018-10-01 | $216,763 (3.3%) | $320,587 (2.4%) | 0.00 | 390 |
2018-11-01 | $209,725 (12.7%) | $325,362 (8.9%) | 0.00 | 384 |
2018-12-01 | $199,900 (16.0%) | $325,333 (13.3%) | 0.00 | 357 |
2019-01-01 | $206,425 (14.7%) | $335,135 (17.3%) | 0.00 | 318 |
2019-02-01 | $216,675 (19.6%) | $359,656 (22.6%) | 0.00 | 294 |
2019-03-01 | $219,186 (4.4%) | $366,607 (16.5%) | 0.00 | 292 |
2019-04-01 | $251,550 (8.7%) | $373,919 (17.2%) | 0.00 | 283 |
2019-05-01 | $262,675 (7.0%) | $371,816 (14.8%) | 0.00 | 293 |
2019-06-01 | $277,900 (11.2%) | $367,416 (7.1%) | 0.00 | 330 |
2019-07-01 | $271,375 (13.3%) | $372,488 (13.2%) | 0.00 | 346 |
2019-08-01 | $255,155 (7.5%) | $343,514 (8.5%) | 0.00 | 353 |
2019-09-01 | $249,386 (6.2%) | $335,869 (0.8%) | 0.00 | 353 |
2019-10-01 | $247,216 (14.1%) | $332,195 (3.6%) | 0.00 | 349 |
2019-11-01 | $224,900 (7.2%) | $334,062 (2.7%) | 0.00 | 330 |
2019-12-01 | $204,800 (2.5%) | $314,634 (-3.3%) | 0.00 | 313 |
2020-01-01 | $227,050 (10.0%) | $327,416 (-2.3%) | 0.00 | 288 |
2020-02-01 | $245,000 (13.1%) | $339,543 (-5.6%) | 0.00 | 252 |
2020-03-01 | $267,975 (22.3%) | $367,218 (0.2%) | 0.00 | 247 |
2020-04-01 | $288,975 (14.9%) | $387,546 (3.6%) | 0.00 | 235 |
2020-05-01 | $288,900 (10.0%) | $378,959 (1.9%) | 0.00 | 222 |
2020-06-01 | $288,975 (4.0%) | $392,821 (6.9%) | 0.00 | 200 |
2020-07-01 | $269,500 (-0.7%) | $396,389 (6.4%) | 0.00 | 197 |
2020-08-01 | $259,000 (1.5%) | $414,608 (20.7%) | 0.00 | 176 |
2020-09-01 | $264,225 (6.0%) | $429,495 (27.9%) | 0.00 | 167 |
2020-10-01 | $261,950 (6.0%) | $430,142 (29.5%) | 0.00 | 176 |
2020-11-01 | $259,175 (15.2%) | $418,976 (25.4%) | 0.00 | 161 |
2020-12-01 | $239,900 (17.1%) | $403,883 (28.4%) | 0.00 | 149 |
2021-01-01 | $217,000 (-4.4%) | $367,492 (12.2%) | 0.00 | 159 |
2021-02-01 | $208,450 (-14.9%) | $413,293 (21.7%) | 0.00 | 84 |
2021-03-01 | $237,200 (-11.5%) | $447,474 (21.9%) | 0.00 | 87 |
2021-04-01 | $214,900 (-25.6%) | $409,252 (5.6%) | 0.00 | 97 |
2021-05-01 | $166,950 (-42.2%) | $349,013 (-7.9%) | 0.00 | 113 |
2021-06-01 | $177,450 (-38.6%) | $347,546 (-11.5%) | 0.00 | 147 |
2021-07-01 | $199,900 (-25.8%) | $391,854 (-1.1%) | 0.00 | 157 |
2021-08-01 | $186,375 (-28.0%) | $373,027 (-10.0%) | 0.00 | 174 |
2021-09-01 | $199,000 (-24.7%) | $386,831 (-9.9%) | 0.00 | 196 |
2021-10-01 | $217,400 (-17.0%) | $390,296 (-9.3%) | 0.00 | 196 |
2021-11-01 | $212,500 (-18.0%) | $383,201 (-8.5%) | 0.00 | 184 |
2021-12-01 | $210,000 (-12.5%) | $387,449 (-4.1%) | 0.00 | 154 |
2022-01-01 | $184,950 (-14.8%) | $345,723 (-5.9%) | 0.00 | 126 |
2022-02-01 | $188,500 (-9.6%) | $364,269 (-11.9%) | 0.00 | 107 |
2022-03-01 | $236,475 (-0.3%) | $408,194 (-8.8%) | 0.00 | 92 |
2022-04-01 | $294,450 (37.0%) | $482,428 (17.9%) | 0.00 | 80 |
2022-05-01 | $278,475 (66.8%) | $463,201 (32.7%) | 0.00 | 116 |
2022-06-01 | $324,950 (83.1%) | $475,443 (36.8%) | 0.00 | 131 |
2022-07-01 | $324,950 (62.6%) | $513,238 (31.0%) | 0.00 | 163 |
2022-08-01 | $283,700 (52.2%) | $462,423 (24.0%) | 0.00 | 199 |
2022-09-01 | $288,000 (44.7%) | $476,561 (23.2%) | 0.00 | 208 |
2022-10-01 | $289,900 (33.4%) | $474,792 (21.7%) | 0.00 | 206 |
2022-11-01 | $267,000 (25.7%) | $425,900 (11.1%) | 0.00 | 221 |
2022-12-01 | $277,000 (31.9%) | $431,698 (11.4%) | 0.00 | 192 |
2023-01-01 | $257,722 (39.4%) | $431,014 (24.7%) | 0.00 | 165 |
2023-02-01 | $271,950 (44.3%) | $433,692 (19.1%) | 0.00 | 157 |
2023-03-01 | $284,450 (20.3%) | $430,264 (5.4%) | 0.00 | 151 |
2023-04-01 | $302,400 (2.7%) | $479,579 (-0.6%) | 0.00 | 123 |
2023-05-01 | $288,175 (3.5%) | $430,454 (-7.1%) | 0.00 | 146 |
2023-06-01 | $275,575 (-15.2%) | $407,444 (-14.3%) | 0.00 | 170 |
2023-07-01 | $294,950 (-9.2%) | $426,669 (-16.9%) | 0.00 | 188 |
2023-08-01 | $299,450 (5.6%) | $468,313 (1.3%) | 0.00 | 206 |
2023-09-01 | $322,495 (12.0%) | $475,026 (-0.3%) | 0.00 | 201 |
2023-10-01 | $290,000 (0.0%) | $466,162 (-1.8%) | 0.00 | 205 |
2023-11-01 | $269,675 (1.0%) | $450,223 (5.7%) | 0.00 | 222 |
2023-12-01 | $253,490 (-8.5%) | $430,190 (-0.4%) | 0.00 | 218 |
2024-01-01 | $250,995 (-2.6%) | $407,383 (-5.5%) | 0.00 | 196 |
2024-02-01 | $249,490 (-8.3%) | $411,452 (-5.1%) | 0.00 | 185 |
2024-03-01 | $250,000 (-12.1%) | $425,879 (-1.0%) | 0.00 | 203 |
2024-04-01 | $296,500 (-2.0%) | $475,282 (-0.9%) | 0.00 | 177 |
2024-05-01 | $299,900 (4.1%) | $486,242 (13.0%) | 0.00 | 200 |
2024-06-01 | $325,000 (17.9%) | $475,566 (16.7%) | 0.00 | 206 |
2024-07-01 | $306,500 (3.9%) | $447,911 (5.0%) | 0.00 | 219 |
2024-08-01 | $299,000 (-0.2%) | $418,920 (-10.6%) | 0.00 | 238 |
2024-09-01 | $292,225 (-9.4%) | $423,906 (-10.8%) | 0.00 | 241 |
2024-10-01 | $289,875 (0.0%) | $421,586 (-9.6%) | 0.00 | 235 |
Michigan City's median listing price comes in at 0% of the national average.
Michigan City's average listing price for 2024-10-01 was $421,586, a difference of $-44,576 (-9.6%) versus the prior year and $-2,320 versus the prior month.
For the 2024-10-01 period, Michigan City had 235 MLS listings, a difference of -6 listings (-2%) versus the prior month and 30 listings (15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Michigan City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,862 sqft |
2018-02-01 | 0 days | 1,808 sqft |
2018-03-01 | 0 days | 1,885 sqft |
2018-04-01 | 0 days | 1,900 sqft |
2018-05-01 | 0 days | 1,952 sqft |
2018-06-01 | 0 days | 2,010 sqft |
2018-07-01 | 0 days | 2,025 sqft |
2018-08-01 | 0 days | 1,953 sqft |
2018-09-01 | 0 days | 1,969 sqft |
2018-10-01 | 0 days | 1,962 sqft |
2018-11-01 | 0 days | 1,958 sqft |
2018-12-01 | 0 days | 1,901 sqft |
2019-01-01 | 0 days | 1,934 sqft |
2019-02-01 | 0 days | 1,868 sqft |
2019-03-01 | 0 days | 1,864 sqft |
2019-04-01 | 0 days | 1,882 sqft |
2019-05-01 | 0 days | 1,927 sqft |
2019-06-01 | 0 days | 1,983 sqft |
2019-07-01 | 0 days | 1,993 sqft |
2019-08-01 | 0 days | 1,944 sqft |
2019-09-01 | 0 days | 1,921 sqft |
2019-10-01 | 0 days | 1,913 sqft |
2019-11-01 | 0 days | 1,862 sqft |
2019-12-01 | 0 days | 1,806 sqft |
2020-01-01 | 0 days | 1,868 sqft |
2020-02-01 | 0 days | 1,886 sqft |
2020-03-01 | 0 days | 1,909 sqft |
2020-04-01 | 0 days | 1,998 sqft |
2020-05-01 | 0 days | 1,860 sqft |
2020-06-01 | 0 days | 1,860 sqft |
2020-07-01 | 0 days | 1,851 sqft |
2020-08-01 | 0 days | 1,936 sqft |
2020-09-01 | 0 days | 1,896 sqft |
2020-10-01 | 0 days | 1,880 sqft |
2020-11-01 | 0 days | 1,806 sqft |
2020-12-01 | 0 days | 1,761 sqft |
2021-01-01 | 0 days | 1,782 sqft |
2021-02-01 | 0 days | 1,768 sqft |
2021-03-01 | 0 days | 1,790 sqft |
2021-04-01 | 0 days | 1,781 sqft |
2021-05-01 | 0 days | 1,705 sqft |
2021-06-01 | 0 days | 1,763 sqft |
2021-07-01 | 0 days | 1,808 sqft |
2021-08-01 | 0 days | 1,780 sqft |
2021-09-01 | 0 days | 1,835 sqft |
2021-10-01 | 0 days | 1,839 sqft |
2021-11-01 | 0 days | 1,806 sqft |
2021-12-01 | 0 days | 1,793 sqft |
2022-01-01 | 0 days | 1,746 sqft |
2022-02-01 | 0 days | 1,697 sqft |
2022-03-01 | 0 days | 1,768 sqft |
2022-04-01 | 0 days | 1,934 sqft |
2022-05-01 | 0 days | 1,894 sqft |
2022-06-01 | 0 days | 1,916 sqft |
2022-07-01 | 0 days | 1,928 sqft |
2022-08-01 | 0 days | 1,916 sqft |
2022-09-01 | 0 days | 2,021 sqft |
2022-10-01 | 0 days | 2,006 sqft |
2022-11-01 | 0 days | 1,955 sqft |
2022-12-01 | 0 days | 1,979 sqft |
2023-01-01 | 0 days | 1,938 sqft |
2023-02-01 | 0 days | 2,015 sqft |
2023-03-01 | 0 days | 2,014 sqft |
2023-04-01 | 0 days | 2,014 sqft |
2023-05-01 | 0 days | 2,015 sqft |
2023-06-01 | 0 days | 1,992 sqft |
2023-07-01 | 0 days | 2,011 sqft |
2023-08-01 | 0 days | 2,055 sqft |
2023-09-01 | 0 days | 2,110 sqft |
2023-10-01 | 0 days | 2,018 sqft |
2023-11-01 | 0 days | 1,956 sqft |
2023-12-01 | 0 days | 1,838 sqft |
2024-01-01 | 0 days | 1,774 sqft |
2024-02-01 | 0 days | 1,767 sqft |
2024-03-01 | 0 days | 1,774 sqft |
2024-04-01 | 0 days | 2,015 sqft |
2024-05-01 | 0 days | 2,013 sqft |
2024-06-01 | 0 days | 2,029 sqft |
2024-07-01 | 0 days | 2,016 sqft |
2024-08-01 | 0 days | 2,010 sqft |
2024-09-01 | 0 days | 1,995 sqft |
2024-10-01 | 0 days | 1,941 sqft |
Michigan City's median square footage for active listings during the 2024-10-01 period was 1,941 sqft. One year prior, the average listing was 2,018 sqft.