Peoria VA Loan Rates, Closing Costs & Stats
PEORIA, IL
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.
Peoria's 62 lenders originated 498 VA loans during 2022. The total origination value was $103,650,000, with an average VA loan value of $208,133.
Peoria VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Peoria
averaged
0.02%
for the week of 2023-11-24, compared to the national average (all VA variants) of
0% for the same period.
Peoria's average VA mortgage closing costs are $4,070.
The average rate for the prior week (2023-11-17) was
7.17% and
one month ago for the week of 2023-10-20, the
average rate was 7.2%.
The average rate one year ago was 6.51%.
For refis of the same type during the week of 2023-11-24, the average rate
was -0.77%.
Peoria 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 Peoria level.
The top Peoria VA lender as defined by loan originations is Mortgage Research Center, LLC, with
125 VA loans originated. Their average total fees are
$5,141, which is $473
lower than the next largest lender,
FLAT BRANCH MORTGAGE, INC..
The lowest fee Peoria VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($3,529), CALIBER HOME LOANS, INC. ($4,711), Wells Fargo Bank ($4,725), UNITED WHOLESALE MORTGAGE, LLC ($4,772) and Mortgage Research Center, LLC ($5,141).
The lowest rate Peoria VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION (4.35%), QUICKEN LOANS, LLC (4.35%), UNITED WHOLESALE MORTGAGE, LLC (4.46%), USAA Federal Savings Bank (4.46%) and FIRST STATE MORTGAGE SERVICES, LLC (4.60%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Peoria (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $129,800 (-0.1%) | $169,761 (-2.5%) | 0.48 | 2,306 |
2018-02-01 | $129,900 (0.0%) | $170,981 (-2.0%) | 0.47 | 2,301 |
2018-03-01 | $129,900 (-6.8%) | $169,899 (-7.0%) | 0.46 | 2,517 |
2018-04-01 | $129,900 (-7.2%) | $170,805 (-9.1%) | 0.44 | 2,550 |
2018-05-01 | $132,575 (-5.9%) | $172,225 (-10.2%) | 0.44 | 2,646 |
2018-06-01 | $134,900 (-6.9%) | $175,420 (-10.2%) | 0.45 | 2,679 |
2018-07-01 | $134,900 (-7.9%) | $175,609 (-9.2%) | 0.45 | 2,738 |
2018-08-01 | $134,400 (-6.0%) | $175,213 (-7.4%) | 0.45 | 2,742 |
2018-09-01 | $129,900 (-7.2%) | $170,012 (-7.8%) | 0.44 | 2,690 |
2018-10-01 | $129,700 (-5.3%) | $167,374 (-5.6%) | 0.44 | 2,652 |
2018-11-01 | $125,000 (-7.4%) | $165,431 (-6.2%) | 0.42 | 2,433 |
2018-12-01 | $124,900 (-3.9%) | $160,925 (-5.9%) | 0.43 | 2,218 |
2019-01-01 | $124,900 (-3.8%) | $159,143 (-6.3%) | 0.43 | 2,032 |
2019-02-01 | $125,300 (-3.5%) | $160,486 (-6.1%) | 0.42 | 1,993 |
2019-03-01 | $129,386 (-0.4%) | $164,576 (-3.1%) | 0.42 | 2,017 |
2019-04-01 | $134,200 (3.3%) | $170,160 (-0.4%) | 0.43 | 2,064 |
2019-05-01 | $133,950 (1.0%) | $173,473 (0.7%) | 0.42 | 2,155 |
2019-06-01 | $134,900 (0.0%) | $174,082 (-0.8%) | 0.42 | 2,216 |
2019-07-01 | $134,900 (0.0%) | $175,476 (-0.1%) | 0.42 | 2,267 |
2019-08-01 | $133,536 (-0.6%) | $173,455 (-1.0%) | 0.42 | 2,330 |
2019-09-01 | $131,491 (1.2%) | $172,186 (1.3%) | 0.42 | 2,354 |
2019-10-01 | $129,700 (0.0%) | $170,985 (2.2%) | 0.42 | 2,373 |
2019-11-01 | $124,900 (-0.1%) | $166,543 (0.7%) | 0.41 | 2,317 |
2019-12-01 | $119,900 (-4.0%) | $161,006 (0.1%) | 0.40 | 2,149 |
2020-01-01 | $119,900 (-4.0%) | $160,280 (0.7%) | 0.40 | 1,981 |
2020-02-01 | $119,900 (-4.3%) | $160,825 (0.2%) | 0.39 | 1,885 |
2020-03-01 | $123,900 (-4.2%) | $164,896 (0.2%) | 0.39 | 1,907 |
2020-04-01 | $124,925 (-6.9%) | $169,256 (-0.5%) | 0.39 | 1,864 |
2020-05-01 | $127,700 (-4.7%) | $177,411 (2.3%) | 0.39 | 1,817 |
2020-06-01 | $129,313 (-4.1%) | $178,410 (2.5%) | 0.38 | 1,676 |
2020-07-01 | $129,900 (-3.7%) | $179,577 (2.3%) | 0.38 | 1,586 |
2020-08-01 | $124,900 (-6.5%) | $172,520 (-0.5%) | 0.36 | 1,530 |
2020-09-01 | $122,225 (-7.1%) | $173,203 (0.6%) | 0.35 | 1,446 |
2020-10-01 | $119,900 (-7.6%) | $172,477 (0.9%) | 0.34 | 1,387 |
2020-11-01 | $114,900 (-8.0%) | $168,261 (1.0%) | 0.34 | 1,334 |
2020-12-01 | $110,925 (-7.5%) | $161,543 (0.3%) | 0.33 | 1,222 |
2021-01-01 | $109,250 (-8.9%) | $158,044 (-1.4%) | 0.33 | 1,113 |
2021-02-01 | $99,900 (-16.7%) | $152,254 (-5.3%) | 0.29 | 972 |
2021-03-01 | $98,950 (-20.1%) | $157,104 (-4.7%) | 0.28 | 872 |
2021-04-01 | $107,450 (-14.0%) | $177,515 (4.9%) | 0.29 | 738 |
2021-05-01 | $109,900 (-13.9%) | $187,571 (5.7%) | 0.29 | 707 |
2021-06-01 | $111,950 (-13.4%) | $192,363 (7.8%) | 0.29 | 758 |
2021-07-01 | $112,420 (-13.5%) | $188,119 (4.8%) | 0.30 | 876 |
2021-08-01 | $119,563 (-4.3%) | $189,360 (9.8%) | 0.32 | 896 |
2021-09-01 | $117,234 (-4.1%) | $187,866 (8.5%) | 0.31 | 941 |
2021-10-01 | $110,000 (-8.3%) | $178,326 (3.4%) | 0.29 | 910 |
2021-11-01 | $104,950 (-8.7%) | $169,928 (1.0%) | 0.28 | 863 |
2021-12-01 | $99,900 (-9.9%) | $167,456 (3.7%) | 0.27 | 727 |
2022-01-01 | $94,900 (-13.1%) | $161,759 (2.4%) | 0.26 | 628 |
2022-02-01 | $89,900 (-10.0%) | $162,619 (6.8%) | 0.23 | 521 |
2022-03-01 | $99,900 (1.0%) | $191,062 (21.6%) | 0.25 | 482 |
2022-04-01 | $102,400 (-4.7%) | $195,563 (10.2%) | 0.24 | 464 |
2022-05-01 | $136,950 (24.6%) | $222,255 (18.5%) | 0.31 | 508 |
2022-06-01 | $149,900 (33.9%) | $221,459 (15.1%) | 0.33 | 602 |
2022-07-01 | $149,900 (33.3%) | $223,641 (18.9%) | 0.34 | 746 |
2022-08-01 | $154,450 (29.2%) | $229,454 (21.2%) | 0.36 | 778 |
2022-09-01 | $152,300 (29.9%) | $230,152 (22.5%) | 0.36 | 788 |
2022-10-01 | $149,000 (35.5%) | $222,664 (24.9%) | 0.35 | 803 |
2022-11-01 | $144,923 (38.1%) | $214,475 (26.2%) | 0.35 | 760 |
2022-12-01 | $134,900 (35.0%) | $203,421 (21.5%) | 0.33 | 678 |
2023-01-01 | $134,075 (41.3%) | $206,323 (27.6%) | 0.33 | 583 |
2023-02-01 | $129,875 (44.5%) | $205,771 (26.5%) | 0.31 | 474 |
2023-03-01 | $139,200 (39.3%) | $219,812 (15.1%) | 0.33 | 414 |
2023-04-01 | $145,000 (41.6%) | $224,004 (14.5%) | 0.34 | 407 |
2023-05-01 | $148,675 (8.6%) | $237,006 (6.6%) | 0.34 | 424 |
2023-06-01 | $169,675 (13.2%) | $246,019 (11.1%) | 0.38 | 431 |
2023-07-01 | $169,950 (13.4%) | $238,137 (6.5%) | 0.39 | 446 |
2023-08-01 | $162,445 (5.2%) | $235,264 (2.5%) | 0.37 | 468 |
2023-09-01 | $168,950 (10.9%) | $238,965 (3.8%) | 0.39 | 513 |
2023-10-01 | $164,800 (10.6%) | $231,967 (4.2%) | 0.39 | 565 |
Peoria's median listing price comes in at 39% of the national average.
Peoria's average listing price for 2023-10-01 was $231,967, a difference of $9,303 (4.2%) versus the prior year and $-6,998 versus the prior month.
For the 2023-10-01 period, Peoria had 565 MLS listings, a difference of 52 listings (10%) versus the prior month and -238 listings (-30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Peoria (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 96 days | 1,822 sqft |
2018-02-01 | 95 days | 1,832 sqft |
2018-03-01 | 68 days | 1,832 sqft |
2018-04-01 | 59 days | 1,845 sqft |
2018-05-01 | 65 days | 1,857 sqft |
2018-06-01 | 61 days | 1,856 sqft |
2018-07-01 | 66 days | 1,866 sqft |
2018-08-01 | 68 days | 1,857 sqft |
2018-09-01 | 72 days | 1,846 sqft |
2018-10-01 | 78 days | 1,820 sqft |
2018-11-01 | 80 days | 1,810 sqft |
2018-12-01 | 87 days | 1,777 sqft |
2019-01-01 | 89 days | 1,783 sqft |
2019-02-01 | 92 days | 1,760 sqft |
2019-03-01 | 82 days | 1,783 sqft |
2019-04-01 | 69 days | 1,829 sqft |
2019-05-01 | 59 days | 1,784 sqft |
2019-06-01 | 59 days | 1,760 sqft |
2019-07-01 | 61 days | 1,874 sqft |
2019-08-01 | 62 days | 1,859 sqft |
2019-09-01 | 65 days | 1,828 sqft |
2019-10-01 | 67 days | 1,802 sqft |
2019-11-01 | 73 days | 1,784 sqft |
2019-12-01 | 85 days | 1,744 sqft |
2020-01-01 | 92 days | 1,741 sqft |
2020-02-01 | 93 days | 1,732 sqft |
2020-03-01 | 72 days | 1,743 sqft |
2020-04-01 | 72 days | 1,759 sqft |
2020-05-01 | 72 days | 1,772 sqft |
2020-06-01 | 68 days | 1,774 sqft |
2020-07-01 | 61 days | 1,781 sqft |
2020-08-01 | 53 days | 1,766 sqft |
2020-09-01 | 58 days | 1,731 sqft |
2020-10-01 | 61 days | 1,720 sqft |
2020-11-01 | 58 days | 1,634 sqft |
2020-12-01 | 61 days | 1,568 sqft |
2021-01-01 | 72 days | 1,571 sqft |
2021-02-01 | 73 days | 1,519 sqft |
2021-03-01 | 59 days | 1,484 sqft |
2021-04-01 | 47 days | 1,551 sqft |
2021-05-01 | 41 days | 1,533 sqft |
2021-06-01 | 34 days | 1,567 sqft |
2021-07-01 | 36 days | 1,587 sqft |
2021-08-01 | 39 days | 1,617 sqft |
2021-09-01 | 44 days | 1,591 sqft |
2021-10-01 | 45 days | 1,541 sqft |
2021-11-01 | 47 days | 1,454 sqft |
2021-12-01 | 58 days | 1,431 sqft |
2022-01-01 | 62 days | 1,380 sqft |
2022-02-01 | 57 days | 1,333 sqft |
2022-03-01 | 49 days | 1,368 sqft |
2022-04-01 | 34 days | 1,382 sqft |
2022-05-01 | 30 days | 1,562 sqft |
2022-06-01 | 35 days | 1,690 sqft |
2022-07-01 | 34 days | 1,700 sqft |
2022-08-01 | 42 days | 1,737 sqft |
2022-09-01 | 46 days | 1,738 sqft |
2022-10-01 | 49 days | 1,735 sqft |
2022-11-01 | 51 days | 1,720 sqft |
2022-12-01 | 56 days | 1,620 sqft |
2023-01-01 | 67 days | 1,674 sqft |
2023-02-01 | 59 days | 1,595 sqft |
2023-03-01 | 47 days | 1,592 sqft |
2023-04-01 | 39 days | 1,618 sqft |
2023-05-01 | 36 days | 1,649 sqft |
2023-06-01 | 40 days | 1,726 sqft |
2023-07-01 | 40 days | 1,701 sqft |
2023-08-01 | 37 days | 1,692 sqft |
2023-09-01 | 40 days | 1,758 sqft |
2023-10-01 | 39 days | 1,724 sqft |
Peoria's median square footage for active listings during the 2023-10-01 period was 1,724 sqft. One year prior, the average listing was 1,735 sqft.