Milwaukee VA Loans

MILWAUKEE-WAUKESHA, WI

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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 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%.

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

    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.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 337 2.90% $5,365
    FREEDOM MORTGAGE CORPORATION 261 2.48% $2,539
    QUICKEN LOANS, LLC 224 2.47% $4,390
    PENNYMAC LOAN SERVICES, LLC 111 2.48% $5,078
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 92 2.95% $5,342
    USAA Federal Savings Bank 80 2.89% $3,256
    NEW DAY FINANCIAL, LLC 76 2.72% $8,125
    LAKEVIEW LOAN SERVICING, LLC 69 2.57% $2,298
    UNITED WHOLESALE MORTGAGE, LLC 61 2.50% $5,408
    WISCONSIN MORTGAGE CORPORATION 57 2.65% $3,969
    LOANDEPOT.COM, LLC 55 2.60% $4,378
    NAVY FEDERAL CREDIT UNION 54 2.46% $4,784
    CALIBER HOME LOANS, INC. 53 2.47% $2,585
    CLEARPATH LENDING 52 2.34% $4,042
    Bank of England 46 2.78% $5,314
    INLANTA MORTGAGE, INC. 42 2.84% $4,856
    Barrington Bank & Trust Company, N.A. 40 2.63% $5,191
    CMG MORTGAGE, INC. 38 2.88% $7,964
    A + MORTGAGE SERVICES, INC. 37 2.52% $2,973
    Mr. Cooper ( Nationstar Mortgage ) 32 2.82% $4,357
    HOME POINT FINANCIAL CORPORATION 32 2.42% $3,946
    Wells Fargo Bank 31 2.52% $3,247
    Prosperity Home Mortgage, LLC 30 2.66% $4,000
    FIRST CENTENNIAL MORTGAGE CORPORATION 28 2.58% $2,578
    The Federal Savings Bank 26 2.51% $6,714
    PLANET HOME LENDING, LLC 25 2.52% $4,838
    VILLAGE CAPITAL & INVESTMENT LLC 23 2.39% $4,543
    NEWREZ LLC 22 2.78% $2,563
    The Equitable Bank, S.S.B. 21 2.40% $4,251
    U.S. Bank 20 2.52% $3,006
    Bell Bank 20 2.86% $4,896
    Carrington Mortgage Services, LLC 20 2.93% $3,661
    GUARANTEED RATE, INC. 20 2.65% $4,955
    Associated Bank 19 2.80% $4,400
    CHERRY CREEK MORTGAGE, LLC 19 2.95% $4,410
    First Guaranty Mortgage Corporation 17 2.57% $3,519
    Paramount Residential Mortgage Group, Inc. 17 2.73% $4,860
    MUTUAL OF OMAHA MORTGAGE, INC. 16 2.79% $6,077
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 2.58% $3,558
    Low VA Rates, LLC 15 2.65% $4,269
    First Federal Bank 15 3.54% $6,829
    CROSSCOUNTRY MORTGAGE, LLC 14 2.58% $6,397
    AMERISAVE MORTGAGE CORPORATION 14 2.51% $5,596
    GSF Mortgage Corporation 14 2.54% $5,888
    MID AMERICA MORTGAGE, INC. 14 2.62% $1,516
    FINANCE OF AMERICA MORTGAGE LLC 12 2.94% $3,968
    BROKER SOLUTIONS, INC. 12 2.61% $4,243
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 11 2.89% $6,300
    AMERICAN FINANCIAL NETWORK, INC. 11 2.82% $10,890
    T2 FINANCIAL LLC 11 3.10% $3,038
    Bank Five Nine 11 2.78% $5,585
    PARKSIDE LENDING, LLC 10 2.76% $4,253
    HOMEBRIDGE FINANCIAL SERVICES, INC. 10 2.48% $5,372
    PENTAGON FEDERAL CREDIT UNION 10 2.36% $2,220
    TOWNE MORTGAGE COMPANY 9 2.74% $5,277
    Mid-Continent Funding, Inc. 9 2.88% $3,748
    ENVOY MORTGAGE, LTD 9 2.71% $5,918
    Ixonia Bank 8 2.98% $7,008
    NBKC BANK 8 2.55% $3,063
    Loan Simple, Inc. 8 3.05% $6,418
    AMERICAN PACIFIC MORTGAGE CORPORATION 8 3.02% $4,833
    ACCELERATE MORTGAGE, LLC 7 2.18% $5,066
    American Mortgage & Equity Consultants, Inc. 7 3.30% $2,309
    GUARANTEED RATE AFFINITY, LLC 6 2.81% $4,465
    ACADEMY MORTGAGE CORPORATION 6 3.46% $4,458
    North American Savings Bank, F.S.B. 6 2.58% $5,199
    Waukesha State Bank 5 2.45% $6,708
    Waterstone Mortgage Corporation 5 3.80% $11,131
    FIRST STATE MORTGAGE SERVICES, LLC 5 2.48% $5,784
    Flagstar Bank, FSB 5 3.08% $9,984
    NATIONS RELIABLE LENDING, LLC 5 2.60% $2,859
    SUN WEST MORTGAGE COMPANY, INC. 5 2.45% $3,894
    SOVEREIGN LENDING GROUP INCORPORATED 5 2.45% $3,717
    TOTAL MORTGAGE SERVICES, LLC 4 3.44% $3,582
    UNION HOME MORTGAGE CORP. 4 2.50% $10,391
    CIBM Bank 4 2.59% $2,951
    JPMorgan Chase Bank 4 2.75% $5,522
    InterContinental Capital Group, Inc 3 2.42% $4,259
    EMBRACE HOME LOANS, INC. 3 2.42% $3,441
    First Federal Bank of Kansas City 3 2.33% $6,668
    GUILD MORTGAGE COMPANY 3 3.00% $6,927
    Citizens Bank 3 2.54% $6,190
    Magnolia Bank 3 2.50% $4,223
    Wyndham Capital Mortgage, Inc. 3 2.46% $3,374
    BNC National Bank 3 2.33% $1,915
    Paramount Bank 3 2.71% $10,695
    PNC Bank 3 2.79% $2,677
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.33% $11,237
    STEARNS LENDING, LLC 3 2.58% $2,491
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 2.50% $3,841
    First Home Bank 2 2.25% $1,986
    Colten Mortgage, LLC 2 2.94% $1,841
    AXIA FINANCIAL, LLC 2 2.81% $886
    AMERICAN FINANCING CORPORATION 2 2.56% $9,637
    Westbury Bank 2 2.56% $2,500
    LIBERTY HOME MORTGAGE CORPORATION 2 2.25% $5,680
    SUCCESS MORTGAGE PARTNERS, INC. 2 3.31% $7,818
    Sunflower Bank 2 2.25% $8,315
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 3.25% $5,648
    Servion, Inc. 2 2.81% $5,685
    Manufacturers and Traders Trust Company 2 2.63% $3,676
    TCF National Bank 2 2.69% $1,703
    PHH Mortgage Corporation 2 2.56% $8,597
    NP, Inc. 1 2.25% $4,865
    OCMBC, INC. 1 3.25% $3,546
    Old National Bank 1 2.38% $2,287
    FirstBank 1 2.63% $115
    HOMESTEAD FUNDING CORP. 1 2.50% $1,230
    Bank First, N.A. 1 2.38% $2,725
    HOMESIDE FINANCIAL, LLC 1 2.50% $3,285
    Plains Commerce Bank 1 2.38% $1,164
    PREMIA MORTGAGE, LLC 1 2.63% $24,303
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.13% $7,909
    FBC MORTGAGE, LLC 1 2.25% $5,361
    AmRes Corporation 1 3.13% $8,126
    A Mortgage Boutique, LLC 1 2.25% $6,413
    ROYAL UNITED MORTGAGE LLC 1 2.50% $7,497
    Sierra Pacific Mortgage Company, Inc. 1 2.50% $4,287
    COMPASS MORTGAGE, INC. 1 2.63% $6,864
    EMM LOANS LLC 1 2.50% $5,434
    Strong Home Mortgage, LLC 1 2.25% $450
    CORNERSTONE HOME LENDING, INC. 1 2.75% $8,045
    Wolfe Financial, Inc 1 2.88% $2,747
    The Central Trust Bank 1 2.38% $2,850
    AMERIFIRST FINANCIAL CORPORATION 1 3.25% $0
    EVERETT FINANCIAL, INC. 1 2.88% $8,148
    The Huntington National Bank 1 2.88% $5,137
    THOMPSON KANE & COMPANY, LLC 1 2.38% $1,610
    TIAA, FSB 1 2.50% $3,704
    TJC Mortgage, Inc. 1 2.50% $4,037
    Goldwater Bank, N.A. 1 2.75% $3,225
    GERSHMAN INVESTMENT CORP. 1 3.25% $6,387
    GATEWAY MORTGAGE CORPORATION 1 2.50% $9,234
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.25% $3,904
    DAS Acquisition Company, LLC 1 3.00% $20,363
    V.I.P. MORTGAGE, INC. 1 3.00% $1,713
    LENDUS, LLC 1 3.63% $7,579
    Leaders Credit Union 1 3.75% $8,529
    LEADERONE FINANCIAL CORPORATION 1 2.75% $5,605
    Watermark Capital, Inc. 1 2.25% $1,017
    Meridian Bank Corporation 1 2.75% $4,417
    LAND HOME FINANCIAL SERVICES, INC. 1 3.25% $1,961
    DELMAR FINANCIAL COMPANY 1 2.50% $3,243
    Capital Bank 1 2.75% $1,920
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.75% $1,740
    KS StateBank 1 2.25% $2,294
    Key Mortgage Services, Inc. 1 3.25% $2,740
    Blackhawk Bank 1 2.25% $1,949
    JAMES B. NUTTER & COMPANY 1 3.13% $3,885
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.75% $2,720
    BAY EQUITY LLC 1 3.50% $8,826
    NFM, INC. 1 2.63% $960
    Equity Prime Mortgage LLC 1 2.50% $8,815
    Northpointe Bank 1 2.88% $3,035
    North Shore Bank FSB 1 2.75% $1,258

    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. Louis
    Date 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 for 2022-04-01 was $334,900, a difference of $20,000 (6.4%) versus the prior year and $39,900 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 34 days. This is -8% shorter than the same period one year ago.

    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.

    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.