Milwaukee VA Loans
MILWAUKEE-WAUKESHA, WI
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 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.
Milwaukee's 155 lenders originated 3,050 VA loans during 2021. The total origination value was $786,230,000, with an average VA loan value of $257,780.
Milwaukee VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Milwaukee
averaged
5.53%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.76% and
one month ago for the week of 2022-04-08, the
average rate was 4.98%.
The average rate one year ago was 3.3%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.13%.
Milwaukee VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Milwaukee level.
The top Milwaukee VA lender as defined by loan originations is Mortgage Research Center, LLC, with
337 VA loans originated. Their average total fees are
$5,365, which is $2,827
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Milwaukee VA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($1,516), PENTAGON FEDERAL CREDIT UNION ($2,220), LAKEVIEW LOAN SERVICING, LLC ($2,298), FREEDOM MORTGAGE CORPORATION ($2,539) and NEWREZ LLC ($2,563).
The lowest rate Milwaukee VA lenders (with over 10 loans originated) are
CLEARPATH LENDING (2.34%), PENTAGON FEDERAL CREDIT UNION (2.36%), VILLAGE CAPITAL & INVESTMENT LLC (2.39%), The Equitable Bank, S.S.B. (2.40%) and HOME POINT FINANCIAL CORPORATION (2.42%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Milwaukee (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 | $227,450 (13.8%) | $332,879 (15.4%) | 0.84 | 2,715 |
2018-02-01 | $239,900 (15.7%) | $351,925 (20.1%) | 0.87 | 2,534 |
2018-03-01 | $269,900 (22.9%) | $372,739 (22.4%) | 0.93 | 2,486 |
2018-04-01 | $279,900 (21.8%) | $384,167 (12.5%) | 0.94 | 2,462 |
2018-05-01 | $291,950 (19.2%) | $392,143 (11.3%) | 0.97 | 2,624 |
2018-06-01 | $299,000 (19.7%) | $402,056 (13.8%) | 1.00 | 2,849 |
2018-07-01 | $292,400 (19.4%) | $391,142 (12.8%) | 0.98 | 3,194 |
2018-08-01 | $284,950 (18.8%) | $380,201 (11.3%) | 0.95 | 3,437 |
2018-09-01 | $274,900 (17.0%) | $374,106 (10.1%) | 0.92 | 3,609 |
2018-10-01 | $272,400 (18.5%) | $371,473 (11.3%) | 0.91 | 3,597 |
2018-11-01 | $265,000 (16.3%) | $364,054 (8.9%) | 0.89 | 3,406 |
2018-12-01 | $259,900 (18.2%) | $356,967 (9.1%) | 0.89 | 3,006 |
2019-01-01 | $272,350 (19.7%) | $364,804 (9.6%) | 0.94 | 2,591 |
2019-02-01 | $299,900 (25.0%) | $391,246 (11.2%) | 1.00 | 2,369 |
2019-03-01 | $316,857 (17.4%) | $401,730 (7.8%) | 1.03 | 2,744 |
2019-04-01 | $329,950 (17.9%) | $415,240 (8.1%) | 1.04 | 3,941 |
2019-05-01 | $334,000 (14.4%) | $426,005 (8.6%) | 1.03 | 2,488 |
2019-06-01 | $329,900 (10.3%) | $421,219 (4.8%) | 1.02 | 2,715 |
2019-07-01 | $329,900 (12.8%) | $424,316 (8.5%) | 1.03 | 2,886 |
2019-08-01 | $316,486 (11.1%) | $409,584 (7.7%) | 1.00 | 3,121 |
2019-09-01 | $297,400 (8.2%) | $390,372 (4.4%) | 0.94 | 3,299 |
2019-10-01 | $289,450 (6.3%) | $383,152 (3.1%) | 0.92 | 3,376 |
2019-11-01 | $279,900 (5.6%) | $376,032 (3.3%) | 0.90 | 3,072 |
2019-12-01 | $279,450 (7.5%) | $373,401 (4.6%) | 0.93 | 2,616 |
2020-01-01 | $283,700 (4.2%) | $378,513 (3.8%) | 0.95 | 2,267 |
2020-02-01 | $319,900 (6.7%) | $408,200 (4.3%) | 1.03 | 2,049 |
2020-03-01 | $327,900 (3.5%) | $419,298 (4.4%) | 1.02 | 2,029 |
2020-04-01 | $343,900 (4.2%) | $415,959 (0.2%) | 1.07 | 2,128 |
2020-05-01 | $374,900 (12.3%) | $446,277 (4.8%) | 1.14 | 2,043 |
2020-06-01 | $369,900 (12.1%) | $441,882 (4.9%) | 1.08 | 1,913 |
2020-07-01 | $366,400 (11.1%) | $448,719 (5.8%) | 1.05 | 1,788 |
2020-08-01 | $349,900 (10.6%) | $438,179 (7.0%) | 1.00 | 1,852 |
2020-09-01 | $327,350 (10.1%) | $428,768 (9.8%) | 0.94 | 1,968 |
2020-10-01 | $299,900 (3.6%) | $402,805 (5.1%) | 0.86 | 2,055 |
2020-11-01 | $294,950 (5.4%) | $402,764 (7.1%) | 0.84 | 1,794 |
2020-12-01 | $289,450 (3.6%) | $402,747 (7.9%) | 0.85 | 1,525 |
2021-01-01 | $295,000 (4.0%) | $406,957 (7.5%) | 0.87 | 1,196 |
2021-02-01 | $304,700 (-4.8%) | $420,443 (3.0%) | 0.88 | 989 |
2021-03-01 | $302,500 (-7.8%) | $417,257 (-0.5%) | 0.85 | 946 |
2021-04-01 | $314,900 (-8.4%) | $425,184 (2.2%) | 0.85 | 963 |
2021-05-01 | $314,900 (-16.0%) | $418,283 (-6.3%) | 0.83 | 1,075 |
2021-06-01 | $299,900 (-18.9%) | $409,435 (-7.3%) | 0.78 | 1,383 |
2021-07-01 | $292,450 (-20.2%) | $394,678 (-12.0%) | 0.76 | 1,735 |
2021-08-01 | $289,900 (-17.2%) | $390,488 (-10.9%) | 0.76 | 1,932 |
2021-09-01 | $279,450 (-14.6%) | $381,874 (-10.9%) | 0.74 | 2,046 |
2021-10-01 | $275,000 (-8.3%) | $383,264 (-4.9%) | 0.72 | 1,924 |
2021-11-01 | $266,900 (-9.5%) | $380,390 (-5.6%) | 0.70 | 1,656 |
2021-12-01 | $257,450 (-11.1%) | $364,857 (-9.4%) | 0.69 | 1,401 |
2022-01-01 | $285,000 (-3.4%) | $389,480 (-4.3%) | 0.76 | 999 |
2022-02-01 | $277,448 (-8.9%) | $397,714 (-5.4%) | 0.71 | 949 |
2022-03-01 | $295,000 (-2.5%) | $425,205 (1.9%) | 0.73 | 902 |
2022-04-01 | $334,900 (6.4%) | $455,120 (7.0%) | 0.79 | 962 |
Milwaukee's median listing price comes in at 79% of the national average.
Milwaukee's average listing price for 2022-04-01 was $455,120, a difference of $29,936 (7.0%) versus the prior year and $29,915 versus the prior month.
For the 2022-04-01 period, Milwaukee had 962 MLS listings, a difference of 60 listings (7%) versus the prior month and -1 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Milwaukee (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 84 days | 1,690 sqft |
2018-02-01 | 72 days | 1,737 sqft |
2018-03-01 | 45 days | 1,811 sqft |
2018-04-01 | 40 days | 1,856 sqft |
2018-05-01 | 39 days | 1,897 sqft |
2018-06-01 | 37 days | 1,920 sqft |
2018-07-01 | 43 days | 1,871 sqft |
2018-08-01 | 44 days | 1,859 sqft |
2018-09-01 | 45 days | 1,832 sqft |
2018-10-01 | 49 days | 1,814 sqft |
2018-11-01 | 54 days | 1,800 sqft |
2018-12-01 | 64 days | 1,779 sqft |
2019-01-01 | 74 days | 1,800 sqft |
2019-02-01 | 69 days | 1,902 sqft |
2019-03-01 | 54 days | 1,956 sqft |
2019-04-01 | 44 days | 2,014 sqft |
2019-05-01 | 43 days | 2,065 sqft |
2019-06-01 | 43 days | 2,052 sqft |
2019-07-01 | 43 days | 2,043 sqft |
2019-08-01 | 42 days | 1,980 sqft |
2019-09-01 | 44 days | 1,905 sqft |
2019-10-01 | 48 days | 1,880 sqft |
2019-11-01 | 56 days | 1,816 sqft |
2019-12-01 | 67 days | 1,800 sqft |
2020-01-01 | 72 days | 1,794 sqft |
2020-02-01 | 57 days | 1,843 sqft |
2020-03-01 | 44 days | 1,898 sqft |
2020-04-01 | 45 days | 1,916 sqft |
2020-05-01 | 51 days | 2,011 sqft |
2020-06-01 | 49 days | 1,993 sqft |
2020-07-01 | 47 days | 1,989 sqft |
2020-08-01 | 44 days | 1,941 sqft |
2020-09-01 | 41 days | 1,839 sqft |
2020-10-01 | 42 days | 1,744 sqft |
2020-11-01 | 47 days | 1,690 sqft |
2020-12-01 | 55 days | 1,654 sqft |
2021-01-01 | 62 days | 1,644 sqft |
2021-02-01 | 52 days | 1,630 sqft |
2021-03-01 | 46 days | 1,641 sqft |
2021-04-01 | 37 days | 1,665 sqft |
2021-05-01 | 35 days | 1,746 sqft |
2021-06-01 | 29 days | 1,742 sqft |
2021-07-01 | 29 days | 1,692 sqft |
2021-08-01 | 35 days | 1,671 sqft |
2021-09-01 | 37 days | 1,662 sqft |
2021-10-01 | 39 days | 1,635 sqft |
2021-11-01 | 45 days | 1,601 sqft |
2021-12-01 | 53 days | 1,571 sqft |
2022-01-01 | 59 days | 1,610 sqft |
2022-02-01 | 38 days | 1,625 sqft |
2022-03-01 | 40 days | 1,654 sqft |
2022-04-01 | 34 days | 1,691 sqft |
Milwaukee's median square footage for active listings during the 2022-04-01 period was 1,691 sqft. One year prior, the average listing was 1,665 sqft.