Milwaukee VA Loan Rates, Closing Costs & Stats

MILWAUKEE-WAUKESHA, WI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Milwaukee's 95 lenders originated 726 VA loans during 2023. The total origination value was $227,810,000, with an average VA loan value of $313,788.

    Milwaukee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Milwaukee averaged 6.55% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Milwaukee's average VA mortgage closing costs are $5,213.

    The average rate for the prior week (2024-12-06) was 6.28% and one month ago for the week of 2024-11-08, the average rate was 6.58%.

    The average rate one year ago was 6.83%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.82%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Milwaukee level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 144 6.76% $6,377
    QUICKEN LOANS, LLC 41 6.26% $12,428
    UNITED WHOLESALE MORTGAGE, LLC 34 6.55% $8,315
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 6.66% $7,985
    NAVY FEDERAL CREDIT UNION 25 5.80% $4,543
    FREEDOM MORTGAGE CORPORATION 20 6.32% $15,817
    Bank of England 19 6.61% $10,056
    CMG MORTGAGE, INC. 18 6.63% $12,889
    NEWREZ LLC 18 6.56% $6,884
    GUILD MORTGAGE COMPANY 17 6.65% $11,448
    Prosperity Home Mortgage, LLC 15 6.37% $4,669
    USAA Federal Savings Bank 14 6.11% $5,770
    PENNYMAC LOAN SERVICES, LLC 13 5.47% $7,806
    Bank Five Nine 13 6.67% $6,519
    NEW DAY FINANCIAL, LLC 12 7.35% $12,192
    LOANDEPOT.COM, LLC 12 6.30% $12,168
    Paramount Residential Mortgage Group, Inc. 12 6.68% $5,669
    PLANET HOME LENDING, LLC 10 6.46% $6,515
    GUARANTEED RATE, INC. 10 6.45% $10,624
    CARDINAL FINANCIAL 9 6.55% $10,518
    Bell Bank 9 6.81% $4,435
    WISCONSIN MORTGAGE CORPORATION 8 6.55% $9,888
    The Federal Savings Bank 8 6.50% $14,014
    VILLAGE CAPITAL MORTGAGE 7 5.80% $7,312
    AMERISAVE MORTGAGE CORPORATION 7 6.09% $10,807
    CROSSCOUNTRY MORTGAGE, LLC 7 6.78% $7,626
    A + MORTGAGE SERVICES, INC. 7 6.25% $10,217
    Barrington Bank & Trust Company, N.A. 7 6.32% $4,506
    U.S. Bank 6 6.44% $9,885
    Mr. Cooper ( Nationstar Mortgage ) 6 6.00% $15,152
    American Mortgage & Equity Consultants, Inc. 6 6.60% $16,241
    The Huntington National Bank 6 6.50% $8,532
    FIRST CENTENNIAL MORTGAGE CORPORATION 5 6.90% $6,829
    Century Mortgage Company DBA Century Lending Company 5 6.87% $6,761
    Ixonia Bank 5 7.18% $10,904
    HOMESIDE FINANCIAL, LLC 5 6.95% $7,882
    Nations Lending Corporation 5 6.70% $8,144
    Servion, Inc. 4 6.91% $9,212
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.63% $9,375
    SUN WEST MORTGAGE COMPANY, INC. 4 6.69% $7,944
    Waterstone Mortgage Corporation 4 6.56% $7,203
    ENVOY MORTGAGE, LTD 4 6.91% $7,849
    JPMorgan Chase Bank 4 6.22% $878
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.83% $8,756
    VERITAS FUNDING, LLC 3 6.38% $20,452
    V.I.P. MORTGAGE, INC. 3 5.79% $7,756
    GSF Mortgage Corporation 3 6.04% $13,285
    NBKC BANK 3 6.21% $7,378
    Magnolia Bank 2 6.00% $16,268
    MID AMERICA MORTGAGE, INC. 2 5.88% $4,512
    Mid-Continent Funding, Inc. 2 7.06% $9,268
    First Federal Bank 2 6.44% $3,136
    Waukesha State Bank 2 6.69% $8,370
    MOVEMENT MORTGAGE, LLC 2 7.25% $4,637
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.31% $11,659
    CHURCHILL MORTGAGE CORPORATION 2 6.63% $7,227
    University of Wisconsin Credit Union 2 6.69% $4,321
    TOWNE MORTGAGE COMPANY 2 6.25% $5,428
    EDUCATORS CREDIT UNION 2 6.81% $1,448
    The Equitable Bank, S.S.B. 2 6.94% $6,742
    Associated Bank 2 6.00% $3,839
    Plains Commerce Bank 2 6.56% $13,256
    GUARANTEED RATE AFFINITY, LLC 2 6.64% $5,000
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.13% $7,470
    Johnson Bank 2 6.25% $5,430
    CONTOUR MORTGAGE CORPORATION 2 7.38% $7,027
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 6.44% $11,775
    Flagstar Bank, FSB 2 5.94% $3,664
    TJC Mortgage, Inc. 1 6.75% $6,351
    AMERICAN FINANCING CORPORATION 1 6.00% $4,420
    Ameris Bank 1 6.25% $2,424
    BAY EQUITY LLC 1 7.25% $575
    BROKER SOLUTIONS, INC. 1 6.63% $10,780
    CHERRY CREEK MORTGAGE, LLC 1 6.63% $1,719
    CIBM Bank 1 7.13% $4,000
    Colonial Savings, F.A. 1 6.50% $8,697
    DAS Acquisition Company, LLC 1 7.25% $8,263
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.88% $6,630
    Equity Prime Mortgage LLC 1 6.63% $5,334
    Farmers Bank & Trust 1 5.25% $18,077
    First-Citizens Bank & Trust Company 1 5.63% $10,740
    FIRST STATE MORTGAGE SERVICES, LLC 1 7.75% $2,829
    LAKE MICHIGAN CREDIT UNION 1 6.63% $3,679
    Lakeview Community Capital, LLC 1 6.25% $10,346
    MORTGAGEONE, INC. 1 7.00% $195
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.00% $7,717
    NATIONS DIRECT MORTGAGE, LLC 1 7.75% $6,995
    NATIONS RELIABLE LENDING, LLC 1 6.25% $11,272
    NETWORK CAPITAL FUNDING CORPORATION 1 7.25% $6,434
    NexBank 1 5.50% $12,823
    NFM, INC. 1 7.38% $6,177
    Presidential Bank, FSB 1 6.38% $6,009
    SOVEREIGN LENDING GROUP INCORPORATED 1 6.25% $13,275
    THOMPSON KANE & COMPANY, LLC 1 6.00% $18,852
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $4,669

    The top Milwaukee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 144 VA loans originated. Their average total fees are $6,377, which is $6,051 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Milwaukee VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,543), Prosperity Home Mortgage, LLC ($4,669), Paramount Residential Mortgage Group, Inc. ($5,669), USAA Federal Savings Bank ($5,770) and Mortgage Research Center, LLC ($6,377).

    The lowest rate Milwaukee VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.47%), NAVY FEDERAL CREDIT UNION (5.80%), USAA Federal Savings Bank (6.11%), QUICKEN LOANS, LLC (6.26%) and LOANDEPOT.COM, LLC (6.30%).

    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 $213,950 (7.0%) $304,492 (6.1%) 0.79 3,853
    2018-02-01 $222,400 (9.0%) $315,261 (8.0%) 0.81 4,074
    2018-03-01 $232,450 (6.2%) $321,757 (6.3%) 0.82 4,494
    2018-04-01 $241,425 (9.8%) $328,105 (8.0%) 0.82 4,827
    2018-05-01 $249,900 (10.1%) $331,661 (7.3%) 0.83 5,146
    2018-06-01 $259,900 (13.0%) $343,249 (9.7%) 0.87 5,337
    2018-07-01 $254,950 (10.9%) $338,895 (7.2%) 0.85 5,416
    2018-08-01 $249,900 (8.9%) $333,963 (6.8%) 0.84 5,521
    2018-09-01 $249,900 (11.1%) $336,092 (8.1%) 0.84 5,366
    2018-10-01 $249,900 (13.6%) $334,642 (8.6%) 0.85 5,223
    2018-11-01 $249,000 (13.4%) $331,330 (7.8%) 0.84 4,819
    2018-12-01 $244,900 (14.0%) $327,679 (8.5%) 0.84 4,059
    2019-01-01 $249,575 (16.7%) $332,532 (9.2%) 0.86 3,608
    2019-02-01 $261,900 (17.8%) $342,888 (8.8%) 0.88 3,779
    2019-03-01 $270,943 (16.6%) $351,332 (9.2%) 0.89 4,193
    2019-04-01 $304,450 (26.1%) $385,958 (17.6%) 0.97 4,721
    2019-05-01 $304,900 (22.0%) $386,754 (16.6%) 0.95 4,973
    2019-06-01 $279,900 (7.7%) $358,176 (4.4%) 0.87 5,244
    2019-07-01 $281,713 (10.5%) $364,387 (7.5%) 0.88 5,221
    2019-08-01 $275,855 (10.4%) $360,673 (8.0%) 0.87 5,236
    2019-09-01 $269,749 (7.9%) $355,033 (5.6%) 0.86 5,207
    2019-10-01 $264,950 (6.0%) $349,048 (4.3%) 0.85 5,162
    2019-11-01 $259,900 (4.4%) $342,044 (3.2%) 0.85 4,588
    2019-12-01 $253,450 (3.5%) $339,705 (3.7%) 0.85 3,760
    2020-01-01 $256,475 (2.8%) $341,509 (2.7%) 0.86 3,366
    2020-02-01 $269,900 (3.1%) $352,524 (2.8%) 0.88 3,607
    2020-03-01 $279,900 (3.3%) $356,161 (1.4%) 0.88 3,994
    2020-04-01 $282,450 (-7.2%) $356,228 (-7.7%) 0.88 3,907
    2020-05-01 $293,950 (-3.6%) $370,498 (-4.2%) 0.89 4,032
    2020-06-01 $294,925 (5.4%) $371,487 (3.7%) 0.87 4,432
    2020-07-01 $299,900 (6.5%) $375,615 (3.1%) 0.87 4,500
    2020-08-01 $289,900 (5.1%) $372,590 (3.3%) 0.83 4,557
    2020-09-01 $275,000 (2.0%) $359,972 (1.4%) 0.79 4,634
    2020-10-01 $267,900 (1.1%) $352,902 (1.1%) 0.77 4,433
    2020-11-01 $263,700 (1.5%) $352,325 (3.0%) 0.77 3,788
    2020-12-01 $260,000 (2.6%) $352,173 (3.7%) 0.77 3,041
    2021-01-01 $259,900 (1.3%) $353,181 (3.4%) 0.78 2,481
    2021-02-01 $264,900 (-1.9%) $356,453 (1.1%) 0.77 2,489
    2021-03-01 $274,900 (-1.8%) $359,178 (0.9%) 0.78 2,704
    2021-04-01 $277,450 (-1.8%) $361,118 (1.4%) 0.75 3,054
    2021-05-01 $289,900 (-1.4%) $371,738 (0.3%) 0.77 3,450
    2021-06-01 $289,900 (-1.7%) $371,004 (-0.1%) 0.76 3,911
    2021-07-01 $284,900 (-5.0%) $362,260 (-3.6%) 0.75 4,361
    2021-08-01 $280,000 (-3.4%) $359,763 (-3.4%) 0.75 4,433
    2021-09-01 $276,850 (0.7%) $357,279 (-0.8%) 0.74 4,388
    2021-10-01 $274,900 (2.6%) $357,071 (1.2%) 0.73 4,163
    2021-11-01 $262,400 (-0.5%) $350,043 (-0.7%) 0.70 3,708
    2021-12-01 $250,000 (-3.9%) $341,680 (-3.0%) 0.68 2,930
    2022-01-01 $259,900 (0.0%) $353,801 (0.2%) 0.70 2,124
    2022-02-01 $267,900 (1.1%) $363,553 (2.0%) 0.70 2,284
    2022-03-01 $289,950 (5.5%) $389,002 (8.3%) 0.73 2,389
    2022-04-01 $299,900 (8.1%) $397,866 (10.2%) 0.71 2,615
    2022-05-01 $322,450 (11.2%) $408,308 (9.8%) 0.74 3,099
    2022-06-01 $334,900 (15.5%) $420,023 (13.2%) 0.75 3,399
    2022-07-01 $325,000 (14.1%) $413,933 (14.3%) 0.73 3,597
    2022-08-01 $332,400 (18.7%) $415,704 (15.6%) 0.77 3,590
    2022-09-01 $332,450 (20.1%) $416,238 (16.5%) 0.78 3,203
    2022-10-01 $329,900 (20.0%) $415,246 (16.3%) 0.78 3,111
    2022-11-01 $324,950 (23.8%) $414,015 (18.3%) 0.78 2,992
    2022-12-01 $337,900 (35.2%) $427,662 (25.2%) 0.83 2,353
    2023-01-01 $349,900 (34.6%) $431,805 (22.1%) 0.87 1,947
    2023-02-01 $349,900 (30.6%) $438,030 (20.5%) 0.84 1,989
    2023-03-01 $366,200 (26.3%) $452,577 (16.3%) 0.86 1,977
    2023-04-01 $369,000 (23.0%) $452,755 (13.8%) 0.86 2,186
    2023-05-01 $374,950 (16.3%) $460,004 (12.7%) 0.85 2,385
    2023-06-01 $379,950 (13.5%) $478,344 (13.9%) 0.85 2,551
    2023-07-01 $374,900 (15.4%) $475,517 (14.9%) 0.85 2,712
    2023-08-01 $352,500 (6.1%) $461,060 (10.9%) 0.81 2,839
    2023-09-01 $349,900 (5.3%) $453,475 (9.0%) 0.81 2,927
    2023-10-01 $339,975 (3.1%) $437,790 (5.4%) 0.80 3,024
    2023-11-01 $342,450 (5.4%) $441,520 (6.6%) 0.82 2,844
    2023-12-01 $335,000 (-0.9%) $434,646 (1.6%) 0.82 2,360
    2024-01-01 $341,950 (-2.3%) $434,354 (0.6%) 0.84 2,038
    2024-02-01 $353,950 (1.2%) $448,558 (2.4%) 0.85 1,950
    2024-03-01 $365,000 (-0.3%) $459,758 (1.6%) 0.86 2,173
    2024-04-01 $376,450 (2.0%) $469,251 (3.6%) 0.88 2,452
    2024-05-01 $399,950 (6.7%) $494,415 (7.5%) 0.90 2,733
    2024-06-01 $399,900 (5.3%) $494,129 (3.3%) 0.90 3,076
    2024-07-01 $399,900 (6.7%) $494,218 (3.9%) 0.91 2,846
    2024-08-01 $399,000 (13.2%) $480,792 (4.3%) 0.93 3,050
    2024-09-01 $389,900 (11.4%) $479,700 (5.8%) 0.92 3,155
    2024-10-01 $377,500 (11.0%) $473,080 (8.1%) 0.89 3,262
    2024-11-01 $365,000 (6.6%) $459,376 (4.0%) 0.88 3,165
    Milwaukee's median listing price for 2024-11-01 was $365,000, a difference of $22,550 (6.6%) versus the prior year and $-12,500 versus the prior month.

    Milwaukee's median listing price comes in at 88% of the national average.

    Milwaukee's average listing price for 2024-11-01 was $459,376, a difference of $17,856 (4.0%) versus the prior year and $-13,704 versus the prior month.

    For the 2024-11-01 period, Milwaukee had 3,165 MLS listings, a difference of -97 listings (-3%) versus the prior month and 321 listings (11%) 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 77 days 1,643 sqft
    2018-02-01 55 days 1,670 sqft
    2018-03-01 40 days 1,714 sqft
    2018-04-01 36 days 1,735 sqft
    2018-05-01 36 days 1,747 sqft
    2018-06-01 36 days 1,785 sqft
    2018-07-01 40 days 1,763 sqft
    2018-08-01 40 days 1,738 sqft
    2018-09-01 43 days 1,728 sqft
    2018-10-01 45 days 1,733 sqft
    2018-11-01 50 days 1,725 sqft
    2018-12-01 59 days 1,720 sqft
    2019-01-01 67 days 1,739 sqft
    2019-02-01 54 days 1,781 sqft
    2019-03-01 42 days 1,806 sqft
    2019-04-01 39 days 1,900 sqft
    2019-05-01 38 days 1,922 sqft
    2019-06-01 36 days 1,833 sqft
    2019-07-01 37 days 1,835 sqft
    2019-08-01 39 days 1,823 sqft
    2019-09-01 42 days 1,805 sqft
    2019-10-01 44 days 1,788 sqft
    2019-11-01 50 days 1,757 sqft
    2019-12-01 61 days 1,719 sqft
    2020-01-01 65 days 1,707 sqft
    2020-02-01 43 days 1,754 sqft
    2020-03-01 37 days 1,783 sqft
    2020-04-01 39 days 1,795 sqft
    2020-05-01 42 days 1,825 sqft
    2020-06-01 36 days 1,824 sqft
    2020-07-01 36 days 1,823 sqft
    2020-08-01 33 days 1,800 sqft
    2020-09-01 35 days 1,727 sqft
    2020-10-01 36 days 1,680 sqft
    2020-11-01 40 days 1,666 sqft
    2020-12-01 46 days 1,637 sqft
    2021-01-01 48 days 1,625 sqft
    2021-02-01 37 days 1,635 sqft
    2021-03-01 30 days 1,633 sqft
    2021-04-01 29 days 1,629 sqft
    2021-05-01 26 days 1,691 sqft
    2021-06-01 26 days 1,702 sqft
    2021-07-01 29 days 1,690 sqft
    2021-08-01 32 days 1,679 sqft
    2021-09-01 35 days 1,656 sqft
    2021-10-01 37 days 1,633 sqft
    2021-11-01 41 days 1,613 sqft
    2021-12-01 49 days 1,580 sqft
    2022-01-01 50 days 1,576 sqft
    2022-02-01 30 days 1,610 sqft
    2022-03-01 30 days 1,655 sqft
    2022-04-01 28 days 1,682 sqft
    2022-05-01 25 days 1,743 sqft
    2022-06-01 28 days 1,778 sqft
    2022-07-01 29 days 1,758 sqft
    2022-08-01 32 days 1,762 sqft
    2022-09-01 36 days 1,733 sqft
    2022-10-01 35 days 1,736 sqft
    2022-11-01 37 days 1,717 sqft
    2022-12-01 46 days 1,718 sqft
    2023-01-01 55 days 1,702 sqft
    2023-02-01 37 days 1,711 sqft
    2023-03-01 33 days 1,730 sqft
    2023-04-01 30 days 1,763 sqft
    2023-05-01 29 days 1,776 sqft
    2023-06-01 29 days 1,785 sqft
    2023-07-01 29 days 1,753 sqft
    2023-08-01 29 days 1,716 sqft
    2023-09-01 30 days 1,695 sqft
    2023-10-01 32 days 1,700 sqft
    2023-11-01 36 days 1,719 sqft
    2023-12-01 44 days 1,690 sqft
    2024-01-01 46 days 1,677 sqft
    2024-02-01 37 days 1,706 sqft
    2024-03-01 29 days 1,725 sqft
    2024-04-01 31 days 1,762 sqft
    2024-05-01 29 days 1,811 sqft
    2024-06-01 30 days 1,807 sqft
    2024-07-01 30 days 1,816 sqft
    2024-08-01 29 days 1,820 sqft
    2024-09-01 31 days 1,803 sqft
    2024-10-01 32 days 1,764 sqft
    2024-11-01 37 days 1,718 sqft
    Milwaukee's median listing age (time on market) for 2024-11-01 was 37 days. This is 4% longer than the same period one year ago.

    Milwaukee's median square footage for active listings during the 2024-11-01 period was 1,718 sqft. One year prior, the average listing was 1,719 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.