Muskegon VA Loan Rates, Closing Costs & Stats

MUSKEGON, 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.

    Muskegon's 44 lenders originated 204 VA loans during 2023. The total origination value was $50,200,000, with an average VA loan value of $246,078.

    Muskegon VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Muskegon averaged 7.02% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Muskegon's average VA mortgage closing costs are $4,788.

    The average rate for the prior week (2024-04-12) was 7.05% and one month ago for the week of 2024-03-15, the average rate was 6.92%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.41%.

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

    Muskegon 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 Muskegon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.86% $4,843
    LAKE MICHIGAN CREDIT UNION 20 6.16% $8,577
    QUICKEN LOANS, LLC 16 5.83% $11,092
    MORTGAGE 1 INCORPORATED 12 6.98% $6,128
    UNITED WHOLESALE MORTGAGE, LLC 10 6.50% $7,752
    TOWNE MORTGAGE COMPANY 6 7.04% $6,118
    Neighborhood Loans, Inc. 6 6.77% $9,144
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 7.02% $14,190
    NAVY FEDERAL CREDIT UNION 5 5.58% $4,156
    PENNYMAC LOAN SERVICES, LLC 5 5.13% $7,282
    FREEDOM MORTGAGE CORPORATION 5 6.60% $14,939
    Mr. Cooper ( Nationstar Mortgage ) 4 5.66% $7,733
    FIRST COMMUNITY MORTGAGE, INC. 4 7.19% $7,903
    SUCCESS MORTGAGE PARTNERS, INC. 4 7.18% $12,420
    VAN DYK MORTGAGE CORPORATION 4 7.00% $4,443
    BROKER SOLUTIONS, INC. 3 6.11% $9,946
    USAA Federal Savings Bank 3 6.79% $5,580
    The Huntington National Bank 3 6.92% $4,086
    The Federal Savings Bank 2 6.94% $5,493
    LEADERONE FINANCIAL CORPORATION 2 6.87% $8,810
    T2 FINANCIAL LLC 2 7.19% $3,266
    GVC MORTGAGE, INC. 2 7.38% $4,541
    TOP FLITE FINANCIAL, INC. 1 7.00% $5,355
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $8,153
    Barrington Bank & Trust Company, N.A. 1 5.75% $3,876
    CARDINAL FINANCIAL 1 6.75% $15,559
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,622
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $22,025
    DELMAR FINANCIAL COMPANY 1 6.75% $6,096
    Fifth Third Bank 1 7.13% $4,556
    GSF Mortgage Corporation 1 6.25% $88
    GUILD MORTGAGE COMPANY 1 6.50% $3,037
    LOANDEPOT.COM, LLC 1 5.99% $6,497
    MEMBER FIRST MORTGAGE, LLC 1 6.38% $3,404
    MICHIGAN MUTUAL, INC. 1 4.75% $8,141
    NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $4,725
    NEW DAY FINANCIAL, LLC 1 7.99% $8,443
    NEWREZ LLC 1 6.63% $9,264
    Northpointe Bank 1 6.25% $16,480
    Plains Commerce Bank 1 6.63% $3,915
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $5,285
    ROSS MORTGAGE CORPORATION 1 6.63% $9,488
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.63% $3,220
    UNION HOME MORTGAGE CORP. 1 7.13% $2,800

    The top Muskegon VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $4,843, which is $3,734 lower than the next largest lender, LAKE MICHIGAN CREDIT UNION.

    The lowest fee Muskegon VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,843), MORTGAGE 1 INCORPORATED ($6,128), UNITED WHOLESALE MORTGAGE, LLC ($7,752), LAKE MICHIGAN CREDIT UNION ($8,577) and QUICKEN LOANS, LLC ($11,092).

    The lowest rate Muskegon VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.83%), LAKE MICHIGAN CREDIT UNION (6.16%), UNITED WHOLESALE MORTGAGE, LLC (6.50%), Mortgage Research Center, LLC (6.86%) and MORTGAGE 1 INCORPORATED (6.98%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Muskegon (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 $149,900 (11.1%) $240,646 (-2.8%) 0.56 439
    2018-02-01 $164,900 (22.2%) $256,099 (1.5%) 0.60 395
    2018-03-01 $179,900 (21.0%) $272,687 (4.6%) 0.63 360
    2018-04-01 $172,175 (14.9%) $271,315 (7.1%) 0.58 374
    2018-05-01 $183,675 (18.2%) $270,623 (11.9%) 0.61 395
    2018-06-01 $179,900 (14.6%) $267,568 (12.3%) 0.60 438
    2018-07-01 $164,900 (6.5%) $251,741 (5.1%) 0.55 494
    2018-08-01 $161,900 (5.0%) $246,666 (5.0%) 0.54 531
    2018-09-01 $154,900 (3.3%) $241,272 (3.8%) 0.52 556
    2018-10-01 $162,600 (8.5%) $239,960 (-0.3%) 0.55 573
    2018-11-01 $157,700 (5.2%) $233,546 (-5.5%) 0.53 533
    2018-12-01 $160,000 (6.7%) $233,817 (-2.7%) 0.55 489
    2019-01-01 $161,950 (8.0%) $229,913 (-4.5%) 0.56 452
    2019-02-01 $172,200 (4.4%) $242,884 (-5.2%) 0.58 412
    2019-03-01 $183,121 (1.8%) $248,999 (-8.7%) 0.60 387
    2019-04-01 $191,975 (11.5%) $251,005 (-7.5%) 0.61 366
    2019-05-01 $209,925 (14.3%) $259,867 (-4.0%) 0.66 350
    2019-06-01 $219,900 (22.2%) $317,974 (18.8%) 0.69 369
    2019-07-01 $211,425 (28.2%) $302,124 (20.0%) 0.66 410
    2019-08-01 $194,445 (20.1%) $278,339 (12.8%) 0.62 466
    2019-09-01 $186,264 (20.3%) $262,067 (8.6%) 0.60 513
    2019-10-01 $179,900 (10.6%) $250,534 (4.4%) 0.58 545
    2019-11-01 $174,900 (10.9%) $250,063 (7.1%) 0.57 519
    2019-12-01 $163,675 (2.3%) $251,438 (7.5%) 0.55 477
    2020-01-01 $169,675 (4.8%) $261,550 (13.8%) 0.57 413
    2020-02-01 $174,900 (1.6%) $266,556 (9.8%) 0.57 412
    2020-03-01 $186,400 (1.8%) $279,193 (12.1%) 0.58 406
    2020-04-01 $207,400 (8.0%) $287,990 (14.7%) 0.65 360
    2020-05-01 $215,000 (2.4%) $305,819 (17.7%) 0.65 358
    2020-06-01 $243,900 (10.9%) $338,076 (6.3%) 0.72 307
    2020-07-01 $244,500 (15.6%) $344,794 (14.1%) 0.71 307
    2020-08-01 $239,900 (23.4%) $362,562 (30.3%) 0.69 298
    2020-09-01 $234,900 (26.1%) $337,954 (29.0%) 0.67 281
    2020-10-01 $209,950 (16.7%) $306,432 (22.3%) 0.60 302
    2020-11-01 $192,450 (10.0%) $290,705 (16.3%) 0.56 275
    2020-12-01 $188,650 (15.3%) $261,977 (4.2%) 0.56 218
    2021-01-01 $184,900 (9.0%) $267,870 (2.4%) 0.55 178
    2021-02-01 $200,000 (14.4%) $278,278 (4.4%) 0.58 130
    2021-03-01 $193,650 (3.9%) $279,046 (-0.1%) 0.55 140
    2021-04-01 $196,900 (-5.1%) $300,294 (4.3%) 0.53 131
    2021-05-01 $200,000 (-7.0%) $285,791 (-6.6%) 0.53 152
    2021-06-01 $211,175 (-13.4%) $285,301 (-15.6%) 0.56 183
    2021-07-01 $210,000 (-14.1%) $273,145 (-20.8%) 0.55 220
    2021-08-01 $199,900 (-16.7%) $282,396 (-22.1%) 0.53 234
    2021-09-01 $194,950 (-17.0%) $289,945 (-14.2%) 0.52 247
    2021-10-01 $204,950 (-2.4%) $294,946 (-3.8%) 0.55 232
    2021-11-01 $189,675 (-1.4%) $283,227 (-2.6%) 0.51 212
    2021-12-01 $191,825 (1.7%) $285,431 (9.0%) 0.52 177
    2022-01-01 $199,450 (7.9%) $319,953 (19.4%) 0.54 122
    2022-02-01 $219,400 (9.7%) $324,331 (16.6%) 0.57 119
    2022-03-01 $201,200 (3.9%) $321,952 (15.4%) 0.50 141
    2022-04-01 $204,900 (4.1%) $310,214 (3.3%) 0.49 137
    2022-05-01 $214,900 (7.5%) $311,658 (9.1%) 0.49 192
    2022-06-01 $233,850 (10.7%) $308,988 (8.3%) 0.52 219
    2022-07-01 $239,900 (14.2%) $304,472 (11.5%) 0.54 269
    2022-08-01 $247,450 (23.8%) $311,849 (10.4%) 0.57 301
    2022-09-01 $238,900 (22.5%) $305,692 (5.4%) 0.56 275
    2022-10-01 $229,700 (12.1%) $300,907 (2.0%) 0.54 305
    2022-11-01 $219,950 (16.0%) $297,048 (4.9%) 0.53 299
    2022-12-01 $199,900 (4.2%) $264,299 (-7.4%) 0.49 279
    2023-01-01 $192,450 (-3.5%) $262,692 (-17.9%) 0.48 237
    2023-02-01 $196,000 (-10.7%) $266,914 (-17.7%) 0.47 201
    2023-03-01 $218,675 (8.7%) $277,251 (-13.9%) 0.52 166
    2023-04-01 $220,000 (7.4%) $298,155 (-3.9%) 0.51 161
    2023-05-01 $235,475 (9.6%) $311,686 (0.0%) 0.53 167
    2023-06-01 $277,400 (18.6%) $333,474 (7.9%) 0.62 213
    2023-07-01 $309,995 (29.2%) $375,052 (23.2%) 0.70 263
    2023-08-01 $287,400 (16.1%) $365,056 (17.1%) 0.66 304
    2023-09-01 $299,900 (25.5%) $381,193 (24.7%) 0.70 345
    2023-10-01 $279,950 (21.9%) $370,405 (23.1%) 0.66 382
    2023-11-01 $269,925 (22.7%) $345,262 (16.2%) 0.64 378
    2023-12-01 $259,900 (30.0%) $342,422 (29.6%) 0.63 355
    2024-01-01 $254,900 (32.5%) $346,292 (31.8%) 0.62 344
    2024-02-01 $249,900 (27.5%) $337,228 (26.3%) 0.60 328
    2024-03-01 $301,500 (37.9%) $380,623 (37.3%) 0.71 281
    Muskegon's median listing price for 2024-03-01 was $301,500, a difference of $82,825 (37.9%) versus the prior year and $51,600 versus the prior month.

    Muskegon's median listing price comes in at 71% of the national average.

    Muskegon's average listing price for 2024-03-01 was $380,623, a difference of $103,372 (37.3%) versus the prior year and $43,395 versus the prior month.

    For the 2024-03-01 period, Muskegon had 281 MLS listings, a difference of -47 listings (-14%) versus the prior month and 115 listings (69%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Muskegon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,613 sqft
    2018-02-01 67 days 1,639 sqft
    2018-03-01 54 days 1,698 sqft
    2018-04-01 45 days 1,660 sqft
    2018-05-01 45 days 1,680 sqft
    2018-06-01 36 days 1,710 sqft
    2018-07-01 41 days 1,652 sqft
    2018-08-01 39 days 1,648 sqft
    2018-09-01 47 days 1,641 sqft
    2018-10-01 50 days 1,647 sqft
    2018-11-01 49 days 1,612 sqft
    2018-12-01 60 days 1,574 sqft
    2019-01-01 69 days 1,565 sqft
    2019-02-01 70 days 1,607 sqft
    2019-03-01 63 days 1,649 sqft
    2019-04-01 52 days 1,677 sqft
    2019-05-01 46 days 1,800 sqft
    2019-06-01 32 days 1,830 sqft
    2019-07-01 36 days 1,820 sqft
    2019-08-01 36 days 1,774 sqft
    2019-09-01 38 days 1,736 sqft
    2019-10-01 41 days 1,720 sqft
    2019-11-01 54 days 1,661 sqft
    2019-12-01 66 days 1,593 sqft
    2020-01-01 71 days 1,607 sqft
    2020-02-01 65 days 1,539 sqft
    2020-03-01 48 days 1,550 sqft
    2020-04-01 61 days 1,566 sqft
    2020-05-01 71 days 1,652 sqft
    2020-06-01 58 days 1,652 sqft
    2020-07-01 44 days 1,663 sqft
    2020-08-01 44 days 1,621 sqft
    2020-09-01 48 days 1,557 sqft
    2020-10-01 46 days 1,521 sqft
    2020-11-01 45 days 1,511 sqft
    2020-12-01 57 days 1,456 sqft
    2021-01-01 52 days 1,434 sqft
    2021-02-01 38 days 1,379 sqft
    2021-03-01 34 days 1,396 sqft
    2021-04-01 34 days 1,423 sqft
    2021-05-01 31 days 1,480 sqft
    2021-06-01 28 days 1,510 sqft
    2021-07-01 29 days 1,510 sqft
    2021-08-01 29 days 1,535 sqft
    2021-09-01 35 days 1,521 sqft
    2021-10-01 38 days 1,522 sqft
    2021-11-01 46 days 1,449 sqft
    2021-12-01 50 days 1,426 sqft
    2022-01-01 53 days 1,421 sqft
    2022-02-01 44 days 1,448 sqft
    2022-03-01 30 days 1,454 sqft
    2022-04-01 29 days 1,476 sqft
    2022-05-01 26 days 1,462 sqft
    2022-06-01 30 days 1,562 sqft
    2022-07-01 32 days 1,560 sqft
    2022-08-01 36 days 1,565 sqft
    2022-09-01 42 days 1,565 sqft
    2022-10-01 39 days 1,565 sqft
    2022-11-01 44 days 1,533 sqft
    2022-12-01 45 days 1,502 sqft
    2023-01-01 57 days 1,430 sqft
    2023-02-01 55 days 1,429 sqft
    2023-03-01 39 days 1,479 sqft
    2023-04-01 36 days 1,563 sqft
    2023-05-01 32 days 1,496 sqft
    2023-06-01 29 days 1,521 sqft
    2023-07-01 31 days 1,525 sqft
    2023-08-01 38 days 1,534 sqft
    2023-09-01 44 days 1,560 sqft
    2023-10-01 43 days 1,547 sqft
    2023-11-01 53 days 1,499 sqft
    2023-12-01 58 days 1,484 sqft
    2024-01-01 67 days 1,484 sqft
    2024-02-01 70 days 1,484 sqft
    2024-03-01 59 days 1,484 sqft
    Muskegon's median listing age (time on market) for 2024-03-01 was 59 days. This is 53% longer than the same period one year ago.

    Muskegon's median square footage for active listings during the 2024-03-01 period was 1,484 sqft. One year prior, the average listing was 1,479 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.