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%.

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.