Monroe VA Loan Rates, Closing Costs & Stats

MONROE, MI

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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 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.

    Monroe's 52 lenders originated 201 VA loans during 2024. The total origination value was $59,025,000, with an average VA loan value of $293,657.

    Monroe VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Monroe averaged 6.59% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Monroe's average VA mortgage closing costs are $5,602.

    The average rate for the prior week (2025-03-28) was 6.51% and one month ago for the week of 2025-02-28, the average rate was 6.78%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.38%.

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

    Monroe 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 Monroe level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 45 6.41% $6,285
    UNITED WHOLESALE MORTGAGE, LLC 22 5.87% $6,279
    QUICKEN LOANS, LLC 19 6.22% $10,836
    AMERICAN FINANCIAL NETWORK, INC. 8 5.97% $5,203
    NAVY FEDERAL CREDIT UNION 8 5.45% $3,536
    FREEDOM MORTGAGE CORPORATION 8 6.12% $4,798
    VILLAGE CAPITAL MORTGAGE 7 5.64% $3,929
    CROSSCOUNTRY MORTGAGE, LLC 4 6.59% $8,928
    CMG MORTGAGE, INC. 4 6.50% $7,528
    UNION HOME MORTGAGE CORP. 4 6.25% $7,165
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.29% $6,034
    Flagstar Bank, FSB 3 5.75% $12,112
    PENNYMAC LOAN SERVICES, LLC 3 6.04% $9,637
    NEW DAY FINANCIAL, LLC 3 6.91% $7,736
    USAA Federal Savings Bank 3 6.17% $4,451
    EQUITY RESOURCES, INC. 3 6.50% $7,756
    THE MORTGAGE LINK, INC. 3 6.50% $8,573
    NEWREZ LLC 2 5.00% $6,974
    AMERISAVE MORTGAGE CORPORATION 2 5.56% $13,490
    Carrington Mortgage Services, LLC 2 5.75% $6,286
    CLEARPATH LENDING 2 5.50% $3,234
    INSPIRE HOME LOANS INC. 2 6.50% $13,661
    LOANDEPOT.COM, LLC 2 6.31% $6,563
    MORTGAGE 1 INCORPORATED 2 6.38% $11,665
    PLANET HOME LENDING, LLC 2 6.13% $5,690
    RUOFF MORTGAGE COMPANY, INC. 2 6.00% $6,205
    The Huntington National Bank 2 7.13% $8,689
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $1,676
    Lakeview Community Capital, LLC 1 5.75% $3,005
    NBKC BANK 1 5.63% $964
    LAKE MICHIGAN CREDIT UNION 1 6.25% $3,696
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $6,119
    KeyBank 1 6.13% $3,284
    PHH Mortgage Corporation 1 6.13% $7,931
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $5,497
    PNC Bank 1 6.50% $2,082
    POLARIS HOME FUNDING CORP. 1 7.13% $13,342
    PREMIA MORTGAGE, LLC 1 5.50% $9,080
    GUARANTEED RATE, INC. 1 6.50% $3,519
    ROSS MORTGAGE CORPORATION 1 6.88% $7,191
    U.S. Bank 1 6.63% $0
    First Merchants Bank 1 7.25% $6,561
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $13,601
    The Loan Store, Inc. 1 5.75% $3,663
    First Federal Bank 1 6.13% $2,576
    TOP FLITE FINANCIAL, INC. 1 6.88% $21,874
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.75% $11,587
    MILEND, INC. 1 7.25% $9,762
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $1,784
    MORTGAGE CENTER L.C 1 6.88% $9,633
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $11,575

    The top Monroe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 45 VA loans originated. Their average total fees are $6,285, which is $6 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Monroe VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($6,279), Mortgage Research Center, LLC ($6,285), QUICKEN LOANS, LLC ($10,836), .

    The lowest rate Monroe VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.87%), QUICKEN LOANS, LLC (6.22%), Mortgage Research Center, LLC (6.41%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Monroe (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 $169,175 (2.5%) $210,985 (7.4%) 0.63 443
    2018-02-01 $172,150 (3.7%) $211,571 (6.0%) 0.63 425
    2018-03-01 $187,000 (13.4%) $217,793 (10.1%) 0.66 406
    2018-04-01 $197,400 (16.2%) $219,405 (7.5%) 0.67 420
    2018-05-01 $199,225 (10.7%) $220,592 (2.4%) 0.67 436
    2018-06-01 $199,999 (6.7%) $226,780 (2.3%) 0.67 497
    2018-07-01 $216,400 (8.9%) $229,790 (2.4%) 0.72 538
    2018-08-01 $211,450 (19.2%) $223,929 (2.6%) 0.71 587
    2018-09-01 $199,450 (10.9%) $223,200 (2.4%) 0.67 577
    2018-10-01 $196,000 (8.9%) $220,866 (0.8%) 0.66 534
    2018-11-01 $201,838 (14.0%) $222,688 (4.0%) 0.68 498
    2018-12-01 $194,900 (18.9%) $221,852 (5.7%) 0.67 460
    2019-01-01 $187,450 (10.8%) $222,207 (5.3%) 0.65 444
    2019-02-01 $196,925 (14.4%) $226,595 (7.1%) 0.67 432
    2019-03-01 $203,614 (8.9%) $228,108 (4.7%) 0.67 417
    2019-04-01 $209,900 (6.3%) $228,921 (4.3%) 0.67 414
    2019-05-01 $199,900 (0.3%) $232,337 (5.3%) 0.62 421
    2019-06-01 $203,900 (2.0%) $233,873 (3.1%) 0.64 458
    2019-07-01 $210,195 (-2.9%) $238,457 (3.8%) 0.66 493
    2019-08-01 $207,173 (-2.0%) $235,591 (5.2%) 0.66 497
    2019-09-01 $203,082 (1.8%) $234,180 (4.9%) 0.65 493
    2019-10-01 $202,855 (3.5%) $235,095 (6.4%) 0.65 491
    2019-11-01 $201,490 (-0.2%) $233,127 (4.7%) 0.66 501
    2019-12-01 $199,900 (2.6%) $226,863 (2.3%) 0.67 452
    2020-01-01 $199,900 (6.6%) $227,342 (2.3%) 0.67 388
    2020-02-01 $209,950 (6.6%) $235,558 (4.0%) 0.69 342
    2020-03-01 $209,950 (3.1%) $240,615 (5.5%) 0.66 294
    2020-04-01 $204,900 (-2.4%) $225,136 (-1.7%) 0.64 265
    2020-05-01 $199,000 (-0.5%) $228,038 (-1.9%) 0.60 281
    2020-06-01 $221,950 (8.9%) $237,540 (1.6%) 0.65 264
    2020-07-01 $227,400 (8.2%) $244,771 (2.7%) 0.66 241
    2020-08-01 $239,900 (15.8%) $254,669 (8.1%) 0.69 247
    2020-09-01 $238,950 (17.7%) $255,979 (9.3%) 0.68 221
    2020-10-01 $229,900 (13.3%) $251,786 (7.1%) 0.66 223
    2020-11-01 $240,088 (19.2%) $260,915 (11.9%) 0.70 212
    2020-12-01 $229,900 (15.0%) $261,655 (15.3%) 0.68 204
    2021-01-01 $230,000 (15.1%) $261,028 (14.8%) 0.69 174
    2021-02-01 $246,473 (17.4%) $268,798 (14.1%) 0.72 157
    2021-03-01 $239,950 (14.3%) $269,690 (12.1%) 0.68 143
    2021-04-01 $260,630 (27.2%) $289,398 (28.5%) 0.71 152
    2021-05-01 $256,905 (29.1%) $278,481 (22.1%) 0.68 150
    2021-06-01 $256,175 (15.4%) $280,627 (18.1%) 0.67 190
    2021-07-01 $245,000 (7.7%) $281,278 (14.9%) 0.65 205
    2021-08-01 $248,050 (3.4%) $281,802 (10.7%) 0.66 243
    2021-09-01 $246,200 (3.0%) $282,759 (10.5%) 0.66 235
    2021-10-01 $239,900 (4.4%) $281,833 (11.9%) 0.64 210
    2021-11-01 $239,925 (-0.1%) $282,363 (8.2%) 0.64 198
    2021-12-01 $234,900 (2.2%) $287,897 (10.0%) 0.64 176
    2022-01-01 $234,900 (2.1%) $289,639 (11.0%) 0.64 164
    2022-02-01 $251,500 (2.0%) $298,795 (11.2%) 0.65 141
    2022-03-01 $250,750 (4.5%) $300,272 (11.3%) 0.63 121
    2022-04-01 $254,000 (-2.5%) $303,202 (4.8%) 0.61 126
    2022-05-01 $259,925 (1.2%) $313,737 (12.7%) 0.59 153
    2022-06-01 $274,950 (7.3%) $319,707 (13.9%) 0.61 183
    2022-07-01 $275,000 (12.2%) $315,035 (12.0%) 0.62 227
    2022-08-01 $246,650 (-0.6%) $292,199 (3.7%) 0.57 251
    2022-09-01 $264,725 (7.5%) $300,343 (6.2%) 0.62 232
    2022-10-01 $259,200 (8.1%) $292,717 (3.9%) 0.61 224
    2022-11-01 $267,500 (11.5%) $298,588 (5.8%) 0.64 221
    2022-12-01 $279,850 (19.1%) $311,298 (8.1%) 0.69 197
    2023-01-01 $275,900 (17.5%) $306,128 (5.7%) 0.68 184
    2023-02-01 $265,000 (5.4%) $306,604 (2.6%) 0.64 169
    2023-03-01 $267,000 (6.5%) $299,210 (-0.4%) 0.63 139
    2023-04-01 $269,900 (6.3%) $305,585 (0.8%) 0.63 143
    2023-05-01 $279,300 (7.5%) $313,670 (0.0%) 0.63 162
    2023-06-01 $296,365 (7.8%) $326,291 (2.1%) 0.67 163
    2023-07-01 $295,000 (7.3%) $347,518 (10.3%) 0.67 168
    2023-08-01 $289,250 (17.3%) $339,244 (16.1%) 0.66 192
    2023-09-01 $299,900 (13.3%) $349,063 (16.2%) 0.70 198
    2023-10-01 $275,000 (6.1%) $326,916 (11.7%) 0.65 200
    2023-11-01 $276,200 (3.3%) $322,622 (8.1%) 0.66 237
    2023-12-01 $275,000 (-1.7%) $326,898 (5.0%) 0.67 240
    2024-01-01 $266,388 (-3.5%) $317,653 (3.8%) 0.65 222
    2024-02-01 $274,475 (3.6%) $329,687 (7.5%) 0.66 201
    2024-03-01 $279,400 (4.6%) $336,768 (12.6%) 0.66 167
    2024-04-01 $277,200 (2.7%) $342,803 (12.2%) 0.64 157
    2024-05-01 $272,788 (-2.3%) $368,674 (17.5%) 0.62 175
    2024-06-01 $299,900 (1.2%) $380,099 (16.5%) 0.68 192
    2024-07-01 $299,450 (1.5%) $374,316 (7.7%) 0.68 215
    2024-08-01 $294,900 (2.0%) $365,309 (7.7%) 0.69 244
    2024-09-01 $288,675 (-3.7%) $357,400 (2.4%) 0.68 257
    2024-10-01 $284,950 (3.6%) $342,758 (4.9%) 0.67 266
    2024-11-01 $279,450 (1.2%) $334,950 (3.8%) 0.67 258
    2024-12-01 $277,968 (1.1%) $327,223 (0.1%) 0.69 225
    2025-01-01 $274,900 (3.2%) $332,461 (4.7%) 0.69 201
    2025-02-01 $297,450 (8.4%) $348,328 (5.7%) 0.72 196
    2025-03-01 $299,900 (7.3%) $361,814 (7.4%) 0.00 188
    Monroe's median listing price for 2025-03-01 was $299,900, a difference of $20,500 (7.3%) versus the prior year and $2,450 versus the prior month.

    Monroe's median listing price comes in at 0% of the national average.

    Monroe's average listing price for 2025-03-01 was $361,814, a difference of $25,046 (7.4%) versus the prior year and $13,486 versus the prior month.

    For the 2025-03-01 period, Monroe had 188 MLS listings, a difference of -8 listings (-4%) versus the prior month and 21 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Monroe (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 83 days 1,644 sqft
    2018-02-01 84 days 1,622 sqft
    2018-03-01 72 days 1,641 sqft
    2018-04-01 50 days 1,684 sqft
    2018-05-01 47 days 1,699 sqft
    2018-06-01 44 days 1,726 sqft
    2018-07-01 45 days 1,759 sqft
    2018-08-01 45 days 1,734 sqft
    2018-09-01 52 days 1,691 sqft
    2018-10-01 59 days 1,684 sqft
    2018-11-01 71 days 1,686 sqft
    2018-12-01 80 days 1,705 sqft
    2019-01-01 89 days 1,678 sqft
    2019-02-01 89 days 1,700 sqft
    2019-03-01 69 days 1,716 sqft
    2019-04-01 53 days 1,734 sqft
    2019-05-01 46 days 1,705 sqft
    2019-06-01 49 days 1,732 sqft
    2019-07-01 44 days 1,766 sqft
    2019-08-01 48 days 1,753 sqft
    2019-09-01 54 days 1,742 sqft
    2019-10-01 53 days 1,735 sqft
    2019-11-01 54 days 1,715 sqft
    2019-12-01 70 days 1,697 sqft
    2020-01-01 86 days 1,699 sqft
    2020-02-01 94 days 1,702 sqft
    2020-03-01 104 days 1,675 sqft
    2020-04-01 92 days 1,636 sqft
    2020-05-01 67 days 1,629 sqft
    2020-06-01 47 days 1,669 sqft
    2020-07-01 46 days 1,675 sqft
    2020-08-01 46 days 1,706 sqft
    2020-09-01 48 days 1,734 sqft
    2020-10-01 50 days 1,737 sqft
    2020-11-01 54 days 1,728 sqft
    2020-12-01 51 days 1,662 sqft
    2021-01-01 63 days 1,684 sqft
    2021-02-01 56 days 1,689 sqft
    2021-03-01 49 days 1,669 sqft
    2021-04-01 30 days 1,681 sqft
    2021-05-01 43 days 1,675 sqft
    2021-06-01 29 days 1,664 sqft
    2021-07-01 31 days 1,664 sqft
    2021-08-01 29 days 1,659 sqft
    2021-09-01 37 days 1,659 sqft
    2021-10-01 46 days 1,680 sqft
    2021-11-01 57 days 1,621 sqft
    2021-12-01 54 days 1,526 sqft
    2022-01-01 48 days 1,544 sqft
    2022-02-01 54 days 1,566 sqft
    2022-03-01 53 days 1,601 sqft
    2022-04-01 46 days 1,662 sqft
    2022-05-01 25 days 1,736 sqft
    2022-06-01 26 days 1,774 sqft
    2022-07-01 31 days 1,752 sqft
    2022-08-01 31 days 1,642 sqft
    2022-09-01 42 days 1,638 sqft
    2022-10-01 50 days 1,617 sqft
    2022-11-01 53 days 1,632 sqft
    2022-12-01 55 days 1,650 sqft
    2023-01-01 62 days 1,666 sqft
    2023-02-01 55 days 1,653 sqft
    2023-03-01 49 days 1,642 sqft
    2023-04-01 42 days 1,642 sqft
    2023-05-01 32 days 1,661 sqft
    2023-06-01 35 days 1,708 sqft
    2023-07-01 37 days 1,731 sqft
    2023-08-01 34 days 1,684 sqft
    2023-09-01 33 days 1,757 sqft
    2023-10-01 38 days 1,698 sqft
    2023-11-01 37 days 1,699 sqft
    2023-12-01 46 days 1,696 sqft
    2024-01-01 58 days 1,649 sqft
    2024-02-01 66 days 1,700 sqft
    2024-03-01 52 days 1,664 sqft
    2024-04-01 45 days 1,657 sqft
    2024-05-01 40 days 1,668 sqft
    2024-06-01 39 days 1,677 sqft
    2024-07-01 31 days 1,719 sqft
    2024-08-01 33 days 1,739 sqft
    2024-09-01 40 days 1,720 sqft
    2024-10-01 45 days 1,687 sqft
    2024-11-01 52 days 1,624 sqft
    2024-12-01 56 days 1,602 sqft
    2025-01-01 67 days 1,623 sqft
    2025-02-01 70 days 1,699 sqft
    2025-03-01 0 days 1,701 sqft
    Monroe's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Monroe's median square footage for active listings during the 2025-03-01 period was 1,701 sqft. One year prior, the average listing was 1,664 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.