Racine VA Loan Rates, Closing Costs & Stats

RACINE, WI

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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.

    Racine's 63 lenders originated 265 VA loans during 2022. The total origination value was $69,615,000, with an average VA loan value of $262,698.

    Racine VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Racine averaged 6.7% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Racine's average VA mortgage closing costs are $4,995.

    The average rate for the prior week (2023-09-15) was 6.58% and one month ago for the week of 2023-08-18, the average rate was 6.56%.

    The average rate one year ago was 5.52%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.54%.

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

    Racine 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 Racine level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 51 5.46% $5,765
    FINANCE OF AMERICA MORTGAGE LLC 16 4.72% $5,926
    NAVY FEDERAL CREDIT UNION 14 3.63% $3,527
    QUICKEN LOANS, LLC 14 4.36% $9,389
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 4.96% $4,150
    UNITED WHOLESALE MORTGAGE, LLC 8 4.16% $4,035
    USAA Federal Savings Bank 8 4.34% $2,551
    NEW DAY FINANCIAL, LLC 8 5.72% $10,300
    LOANDEPOT.COM, LLC 7 3.76% $9,227
    FREEDOM MORTGAGE CORPORATION 7 4.07% $6,765
    Barrington Bank & Trust Company, N.A. 5 4.62% $4,977
    WISCONSIN MORTGAGE CORPORATION 5 4.73% $7,376
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 5.25% $9,973
    INLANTA MORTGAGE, INC. 5 4.63% $3,527
    GUARANTEED RATE AFFINITY, LLC 5 4.68% $5,833
    CMG MORTGAGE, INC. 4 4.28% $7,974
    Johnson Bank 4 5.94% $10,485
    GATEWAY MORTGAGE CORPORATION 4 5.25% $4,143
    CROSSCOUNTRY MORTGAGE, LLC 3 3.67% $13,773
    MID AMERICA MORTGAGE, INC. 3 4.75% $5,256
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.13% $9,264
    Paramount Residential Mortgage Group, Inc. 3 5.58% $8,717
    Mr. Cooper ( Nationstar Mortgage ) 3 4.71% $7,817
    PENNYMAC LOAN SERVICES, LLC 3 3.63% $11,295
    HOME POINT FINANCIAL CORPORATION 3 4.25% $9,844
    Bank Five Nine 3 5.08% $6,556
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 5.79% $4,278
    AMERICAN FINANCING CORPORATION 2 3.50% $10,260
    A + MORTGAGE SERVICES, INC. 2 4.75% $8,216
    Century Mortgage Company DBA Century Lending Company 2 5.49% $3,930
    EDUCATORS CREDIT UNION 2 5.94% $5,533
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 5.81% $7,958
    SECURITYNATIONAL MORTGAGE COMPANY 2 4.19% $7,856
    T2 FINANCIAL LLC 2 4.44% $4,136
    The Federal Savings Bank 2 4.25% $20,308
    U.S. Bank 2 3.75% $2,324
    Wells Fargo Bank 2 2.69% $6,863
    GUARANTEED RATE, INC. 1 6.25% $9,926
    MORIA DEVELOPMENT, INC. 1 2.75% $12,893
    GSF Mortgage Corporation 1 5.13% $6,479
    Flagstar Bank, FSB 1 4.21% $538
    First Federal Bank 1 6.25% $18,530
    Equity Prime Mortgage LLC 1 5.63% $2,788
    NEWREZ LLC 1 3.75% $1,548
    NFM, INC. 1 5.63% $6,654
    CARDINAL FINANCIAL 1 5.25% $8,362
    BROKER SOLUTIONS, INC. 1 6.25% $2,797
    PENTAGON FEDERAL CREDIT UNION 1 4.00% $3,922
    PLAZA HOME MORTGAGE, INC. 1 4.38% $6,445
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.25% $16,594
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.38% $1,421
    Strong Home Mortgage, LLC 1 4.75% $1,129
    VILLAGE CAPITAL MORTGAGE 1 3.63% $1,717
    Waukesha State Bank 1 4.88% $11,341
    The Huntington National Bank 1 3.13% $4,721
    TOTAL MORTGAGE SERVICES, LLC 1 4.38% $1,975
    Bank of England 1 3.38% $10,973
    Associated Bank 1 6.75% $1,504
    LAKEVIEW LOAN SERVICING, LLC 1 3.75% $1,202
    Hometown Lenders, Inc. 1 5.38% $6,425
    LOANPAL, LLC 1 4.88% $9,393
    MEMBER FIRST MORTGAGE, LLC 1 5.50% $6,575
    Meridian Bank Corporation 1 3.13% $2,822

    The top Racine VA lender as defined by loan originations is Mortgage Research Center, LLC, with 51 VA loans originated. Their average total fees are $5,765, which is $161 lower than the next largest lender, FINANCE OF AMERICA MORTGAGE LLC.

    The lowest fee Racine VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,527), Mortgage Research Center, LLC ($5,765), FINANCE OF AMERICA MORTGAGE LLC ($5,926), QUICKEN LOANS, LLC ($9,389) and .

    The lowest rate Racine VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.63%), QUICKEN LOANS, LLC (4.36%), FINANCE OF AMERICA MORTGAGE LLC (4.72%), Mortgage Research Center, LLC (5.46%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Racine (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 $179,950 (9.1%) $233,028 (5.4%) 0.67 545
    2018-02-01 $190,950 (15.4%) $236,103 (6.9%) 0.69 528
    2018-03-01 $199,900 (10.2%) $246,275 (8.2%) 0.70 551
    2018-04-01 $217,950 (11.8%) $253,853 (9.7%) 0.74 581
    2018-05-01 $229,425 (14.7%) $259,651 (8.1%) 0.77 630
    2018-06-01 $239,900 (20.0%) $269,026 (11.0%) 0.80 666
    2018-07-01 $235,250 (17.7%) $266,608 (9.4%) 0.79 698
    2018-08-01 $225,500 (13.1%) $264,930 (8.4%) 0.76 767
    2018-09-01 $228,450 (9.3%) $267,258 (8.8%) 0.77 795
    2018-10-01 $224,950 (18.5%) $265,512 (9.0%) 0.76 797
    2018-11-01 $222,400 (18.6%) $266,609 (11.5%) 0.75 754
    2018-12-01 $210,000 (16.7%) $258,952 (11.7%) 0.72 669
    2019-01-01 $199,950 (11.1%) $257,494 (10.5%) 0.69 587
    2019-02-01 $228,450 (19.6%) $277,973 (17.7%) 0.77 552
    2019-03-01 $228,243 (14.2%) $280,813 (14.0%) 0.75 598
    2019-04-01 $244,900 (12.4%) $297,620 (17.2%) 0.78 661
    2019-05-01 $253,975 (10.7%) $308,297 (18.7%) 0.79 707
    2019-06-01 $238,750 (-0.5%) $293,890 (9.2%) 0.75 759
    2019-07-01 $229,950 (-2.3%) $290,090 (8.8%) 0.72 806
    2019-08-01 $229,655 (1.8%) $288,245 (8.8%) 0.73 823
    2019-09-01 $229,286 (0.4%) $287,268 (7.5%) 0.73 822
    2019-10-01 $226,950 (0.9%) $286,104 (7.8%) 0.73 821
    2019-11-01 $215,000 (-3.3%) $278,364 (4.4%) 0.70 777
    2019-12-01 $209,800 (-0.1%) $275,950 (6.6%) 0.70 642
    2020-01-01 $210,000 (5.0%) $279,472 (8.5%) 0.70 579
    2020-02-01 $209,900 (-8.1%) $280,324 (0.9%) 0.69 583
    2020-03-01 $234,925 (2.9%) $295,867 (5.4%) 0.74 615
    2020-04-01 $233,075 (-4.8%) $274,778 (-7.7%) 0.73 623
    2020-05-01 $240,450 (-5.3%) $282,504 (-8.4%) 0.73 632
    2020-06-01 $245,975 (3.0%) $284,125 (-3.3%) 0.72 663
    2020-07-01 $250,000 (8.7%) $306,814 (5.8%) 0.72 685
    2020-08-01 $248,000 (8.0%) $301,486 (4.6%) 0.71 682
    2020-09-01 $239,950 (4.7%) $299,797 (4.4%) 0.69 671
    2020-10-01 $229,900 (1.3%) $290,950 (1.7%) 0.66 660
    2020-11-01 $209,950 (-2.4%) $285,097 (2.4%) 0.61 589
    2020-12-01 $199,944 (-4.7%) $281,649 (2.1%) 0.60 489
    2021-01-01 $209,900 (-0.1%) $282,659 (1.1%) 0.63 410
    2021-02-01 $219,900 (4.8%) $291,380 (3.9%) 0.64 393
    2021-03-01 $225,000 (-4.2%) $303,975 (2.7%) 0.64 373
    2021-04-01 $242,000 (3.8%) $311,851 (13.5%) 0.66 394
    2021-05-01 $249,900 (3.9%) $318,593 (12.8%) 0.66 486
    2021-06-01 $254,225 (3.4%) $319,808 (12.6%) 0.67 571
    2021-07-01 $249,900 (0.0%) $322,261 (5.0%) 0.66 556
    2021-08-01 $246,750 (-0.5%) $317,383 (5.3%) 0.66 625
    2021-09-01 $242,450 (1.0%) $311,264 (3.8%) 0.65 699
    2021-10-01 $239,900 (4.4%) $312,262 (7.3%) 0.64 665
    2021-11-01 $235,000 (11.9%) $303,600 (6.5%) 0.63 582
    2021-12-01 $239,950 (20.0%) $311,232 (10.5%) 0.65 458
    2022-01-01 $229,950 (9.6%) $316,786 (12.1%) 0.62 337
    2022-02-01 $249,950 (13.7%) $340,955 (17.0%) 0.65 302
    2022-03-01 $252,450 (12.2%) $345,659 (13.7%) 0.63 293
    2022-04-01 $244,500 (1.0%) $343,560 (10.2%) 0.58 361
    2022-05-01 $274,200 (9.7%) $348,687 (9.5%) 0.63 432
    2022-06-01 $291,200 (14.5%) $360,235 (12.6%) 0.65 536
    2022-07-01 $298,000 (19.3%) $367,459 (14.0%) 0.67 572
    2022-08-01 $284,925 (15.5%) $357,084 (12.5%) 0.66 588
    2022-09-01 $277,500 (14.5%) $354,751 (14.0%) 0.65 556
    2022-10-01 $284,900 (18.8%) $358,125 (14.7%) 0.67 557
    2022-11-01 $287,450 (22.3%) $354,963 (16.9%) 0.69 500
    2022-12-01 $299,900 (25.0%) $356,779 (14.6%) 0.74 403
    2023-01-01 $315,500 (37.2%) $357,587 (12.9%) 0.78 343
    2023-02-01 $302,425 (21.0%) $360,462 (5.7%) 0.73 343
    2023-03-01 $336,950 (33.5%) $373,939 (8.2%) 0.79 316
    2023-04-01 $350,000 (43.2%) $390,778 (13.7%) 0.81 335
    2023-05-01 $349,925 (27.6%) $388,975 (11.6%) 0.79 351
    2023-06-01 $329,900 (13.3%) $379,592 (5.4%) 0.74 378
    2023-07-01 $349,900 (17.4%) $384,670 (4.7%) 0.80 407
    2023-08-01 $349,950 (22.8%) $389,311 (9.0%) 0.80 397
    Racine's median listing price for 2023-08-01 was $349,950, a difference of $65,025 (22.8%) versus the prior year and $50 versus the prior month.

    Racine's median listing price comes in at 80% of the national average.

    Racine's average listing price for 2023-08-01 was $389,311, a difference of $32,227 (9.0%) versus the prior year and $4,641 versus the prior month.

    For the 2023-08-01 period, Racine had 397 MLS listings, a difference of -10 listings (-2%) versus the prior month and -191 listings (-32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Racine (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 72 days 1,618 sqft
    2018-02-01 68 days 1,632 sqft
    2018-03-01 45 days 1,650 sqft
    2018-04-01 34 days 1,694 sqft
    2018-05-01 36 days 1,650 sqft
    2018-06-01 36 days 1,666 sqft
    2018-07-01 39 days 1,632 sqft
    2018-08-01 38 days 1,619 sqft
    2018-09-01 40 days 1,660 sqft
    2018-10-01 45 days 1,669 sqft
    2018-11-01 49 days 1,671 sqft
    2018-12-01 59 days 1,633 sqft
    2019-01-01 77 days 1,565 sqft
    2019-02-01 72 days 1,607 sqft
    2019-03-01 56 days 1,639 sqft
    2019-04-01 39 days 1,675 sqft
    2019-05-01 39 days 1,765 sqft
    2019-06-01 38 days 1,737 sqft
    2019-07-01 40 days 1,713 sqft
    2019-08-01 44 days 1,736 sqft
    2019-09-01 46 days 1,737 sqft
    2019-10-01 47 days 1,738 sqft
    2019-11-01 52 days 1,736 sqft
    2019-12-01 67 days 1,719 sqft
    2020-01-01 75 days 1,700 sqft
    2020-02-01 66 days 1,711 sqft
    2020-03-01 43 days 1,748 sqft
    2020-04-01 41 days 1,745 sqft
    2020-05-01 46 days 1,748 sqft
    2020-06-01 43 days 1,728 sqft
    2020-07-01 39 days 1,793 sqft
    2020-08-01 36 days 1,729 sqft
    2020-09-01 36 days 1,689 sqft
    2020-10-01 37 days 1,637 sqft
    2020-11-01 40 days 1,604 sqft
    2020-12-01 45 days 1,594 sqft
    2021-01-01 49 days 1,590 sqft
    2021-02-01 40 days 1,600 sqft
    2021-03-01 37 days 1,618 sqft
    2021-04-01 31 days 1,614 sqft
    2021-05-01 23 days 1,678 sqft
    2021-06-01 29 days 1,718 sqft
    2021-07-01 30 days 1,676 sqft
    2021-08-01 30 days 1,669 sqft
    2021-09-01 34 days 1,667 sqft
    2021-10-01 36 days 1,624 sqft
    2021-11-01 43 days 1,599 sqft
    2021-12-01 53 days 1,607 sqft
    2022-01-01 59 days 1,620 sqft
    2022-02-01 43 days 1,629 sqft
    2022-03-01 28 days 1,665 sqft
    2022-04-01 28 days 1,637 sqft
    2022-05-01 25 days 1,663 sqft
    2022-06-01 23 days 1,650 sqft
    2022-07-01 30 days 1,684 sqft
    2022-08-01 34 days 1,672 sqft
    2022-09-01 37 days 1,673 sqft
    2022-10-01 36 days 1,650 sqft
    2022-11-01 43 days 1,614 sqft
    2022-12-01 51 days 1,589 sqft
    2023-01-01 54 days 1,575 sqft
    2023-02-01 43 days 1,582 sqft
    2023-03-01 43 days 1,615 sqft
    2023-04-01 35 days 1,655 sqft
    2023-05-01 33 days 1,690 sqft
    2023-06-01 31 days 1,688 sqft
    2023-07-01 32 days 1,720 sqft
    2023-08-01 35 days 1,723 sqft
    Racine's median listing age (time on market) for 2023-08-01 was 35 days. This is 4% longer than the same period one year ago.

    Racine's median square footage for active listings during the 2023-08-01 period was 1,723 sqft. One year prior, the average listing was 1,672 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.