Racine VA Loans

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 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 84 lenders originated 601 VA loans during 2021. The total origination value was $145,875,000, with an average VA loan value of $242,720.

    Racine VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Racine averaged 5.46% 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 5.79% and one month ago for the week of 2022-04-08, the average rate was 5.21%.

    The average rate one year ago was 2.93%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.12%.

    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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Racine level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 74 2.88% $4,704
    QUICKEN LOANS, LLC 51 2.48% $4,457
    FREEDOM MORTGAGE CORPORATION 48 2.42% $2,966
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 2.86% $6,762
    NEW DAY FINANCIAL, LLC 17 2.67% $5,274
    NAVY FEDERAL CREDIT UNION 17 2.43% $7,596
    PENNYMAC LOAN SERVICES, LLC 14 2.53% $5,072
    Barrington Bank & Trust Company, N.A. 14 2.63% $4,204
    Mr. Cooper ( Nationstar Mortgage ) 14 2.71% $3,974
    UNITED WHOLESALE MORTGAGE, LLC 13 2.40% $5,126
    USAA Federal Savings Bank 13 2.85% $4,783
    LOANDEPOT.COM, LLC 12 2.65% $6,269
    INLANTA MORTGAGE, INC. 10 2.64% $3,773
    The Federal Savings Bank 8 2.78% $5,566
    GUARANTEED RATE, INC. 8 2.64% $2,970
    The Equitable Bank, S.S.B. 8 2.44% $4,682
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 7 3.29% $4,096
    LAKEVIEW LOAN SERVICING, LLC 7 2.39% $2,361
    FINANCE OF AMERICA MORTGAGE LLC 7 2.86% $4,053
    GATEWAY MORTGAGE CORPORATION 7 2.64% $1,914
    CLEARPATH LENDING 7 2.25% $5,275
    PLANET HOME LENDING, LLC 7 2.48% $3,148
    Low VA Rates, LLC 6 2.40% $4,543
    Wells Fargo Bank 6 2.54% $3,456
    WISCONSIN MORTGAGE CORPORATION 6 2.56% $3,792
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 2.50% $5,392
    VILLAGE CAPITAL & INVESTMENT LLC 6 2.23% $3,552
    CALIBER HOME LOANS, INC. 5 2.68% $4,228
    Bank of England 4 2.88% $10,324
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.91% $7,111
    U.S. Bank 4 2.59% $5,599
    CROSSCOUNTRY MORTGAGE, LLC 3 2.66% $9,389
    AMERICAN FINANCIAL NETWORK, INC. 3 3.17% $16,214
    AMERISAVE MORTGAGE CORPORATION 3 3.25% $10,475
    Associated Bank 3 2.63% $9,265
    CMG MORTGAGE, INC. 3 3.50% $3,437
    ACCELERATE MORTGAGE, LLC 3 2.16% $4,724
    First Federal Bank 3 3.75% $3,191
    NEWREZ LLC 3 2.63% $2,425
    Paramount Residential Mortgage Group, Inc. 3 3.25% $8,656
    PARKSIDE LENDING, LLC 3 2.88% $2,363
    GUARANTEED RATE AFFINITY, LLC 2 3.13% $4,301
    LEADERONE FINANCIAL CORPORATION 2 2.69% $5,345
    Flagstar Bank, FSB 2 2.81% $3,289
    Magnolia Bank 2 2.50% $5,873
    MID AMERICA MORTGAGE, INC. 2 2.88% $3,339
    Mid-Continent Funding, Inc. 2 2.75% $6,949
    First Guaranty Mortgage Corporation 2 2.63% $2,812
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 2.69% $4,336
    Waterstone Mortgage Corporation 2 4.50% $5,975
    North Shore Bank FSB 2 2.56% $943
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 2.50% $12,568
    PENTAGON FEDERAL CREDIT UNION 2 2.25% $2,678
    DAS Acquisition Company, LLC 2 3.31% $5,332
    CHERRY CREEK MORTGAGE, LLC 2 2.25% $1,145
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.31% $6,763
    Carrington Mortgage Services, LLC 2 2.50% $4,077
    BROKER SOLUTIONS, INC. 2 2.87% $5,396
    A + MORTGAGE SERVICES, INC. 2 2.56% $8,510
    HOME POINT FINANCIAL CORPORATION 2 2.75% $3,855
    AMCAP MORTGAGE, LTD. 1 2.99% $5,152
    EMBRACE HOME LOANS, INC. 1 2.99% $15,390
    UNITED MORTGAGE CORP. 1 2.63% $17,535
    Key Mortgage Services, Inc. 1 2.88% $3,698
    PLAZA HOME MORTGAGE, INC. 1 3.38% $2,557
    PREMIA MORTGAGE, LLC 1 2.63% $0
    Prosperity Home Mortgage, LLC 1 2.88% $11,592
    GERSHMAN INVESTMENT CORP. 1 3.25% $6,550
    LOANPAL, LLC 1 2.50% $4,000
    Loan Simple, Inc. 1 2.38% $2,240
    Bell Bank 1 2.88% $8,454
    SECURITYNATIONAL MORTGAGE COMPANY 1 2.88% $9,709
    Bank Five Nine 1 2.99% $2,907
    SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $2,103
    MORIA DEVELOPMENT, INC. 1 3.25% $7,671
    First Home Bank 1 2.25% $1,002
    MOVEMENT MORTGAGE, LLC 1 2.75% $1,207
    T2 FINANCIAL LLC 1 2.50% $8,401
    NATIONS RELIABLE LENDING, LLC 1 3.25% $3,086
    The Central Trust Bank 1 2.25% $15,269
    Fifth Third Bank 1 3.00% $2,833
    GUILD MORTGAGE COMPANY 1 2.25% $8,020
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $3,291
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 2.63% $2,247

    The top Racine VA lender as defined by loan originations is Mortgage Research Center, LLC, with 74 VA loans originated. Their average total fees are $4,704, which is $246 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Racine VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,966), INLANTA MORTGAGE, INC. ($3,773), Mr. Cooper ( Nationstar Mortgage ) ($3,974), Barrington Bank & Trust Company, N.A. ($4,204) and QUICKEN LOANS, LLC ($4,457).

    The lowest rate Racine VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.40%), FREEDOM MORTGAGE CORPORATION (2.42%), NAVY FEDERAL CREDIT UNION (2.43%), QUICKEN LOANS, LLC (2.48%) and PENNYMAC LOAN SERVICES, LLC (2.53%).

    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 $227,000 (33.6%) $287,194 (23.3%) 0.84 431
    2018-02-01 $230,000 (35.4%) $300,626 (27.2%) 0.83 366
    2018-03-01 $259,900 (37.2%) $324,036 (32.9%) 0.90 349
    2018-04-01 $264,950 (15.2%) $334,656 (20.0%) 0.89 330
    2018-05-01 $274,900 (14.6%) $335,138 (14.9%) 0.92 382
    2018-06-01 $274,900 (13.4%) $348,494 (19.1%) 0.92 443
    2018-07-01 $274,900 (15.0%) $338,864 (17.0%) 0.92 492
    2018-08-01 $274,900 (16.0%) $328,612 (13.5%) 0.92 547
    2018-09-01 $269,900 (14.9%) $319,933 (9.8%) 0.90 576
    2018-10-01 $259,900 (11.8%) $311,167 (8.1%) 0.87 597
    2018-11-01 $262,450 (16.7%) $308,246 (8.3%) 0.88 589
    2018-12-01 $244,900 (25.6%) $295,263 (6.4%) 0.84 564
    2019-01-01 $229,900 (1.3%) $292,911 (2.0%) 0.79 492
    2019-02-01 $274,900 (19.5%) $328,079 (9.1%) 0.92 430
    2019-03-01 $268,471 (3.3%) $327,778 (1.2%) 0.87 490
    2019-04-01 $265,971 (0.4%) $331,134 (-1.1%) 0.84 691
    2019-05-01 $285,900 (4.0%) $355,350 (6.0%) 0.88 461
    2019-06-01 $279,900 (1.8%) $341,320 (-2.1%) 0.86 541
    2019-07-01 $272,400 (-0.9%) $333,634 (-1.5%) 0.85 569
    2019-08-01 $265,614 (-3.4%) $330,136 (0.5%) 0.84 596
    2019-09-01 $258,400 (-4.3%) $324,026 (1.3%) 0.82 601
    2019-10-01 $255,950 (-1.5%) $318,582 (2.4%) 0.82 629
    2019-11-01 $240,000 (-8.6%) $315,732 (2.4%) 0.77 617
    2019-12-01 $248,900 (1.6%) $316,332 (7.1%) 0.83 517
    2020-01-01 $237,450 (3.3%) $305,804 (4.4%) 0.79 474
    2020-02-01 $235,000 (-14.5%) $314,542 (-4.1%) 0.76 431
    2020-03-01 $259,900 (-3.2%) $343,877 (4.9%) 0.81 416
    2020-04-01 $264,900 (-0.4%) $310,326 (-6.3%) 0.83 430
    2020-05-01 $269,900 (-5.6%) $323,805 (-8.9%) 0.82 396
    2020-06-01 $279,450 (-0.2%) $337,056 (-1.3%) 0.82 363
    2020-07-01 $292,450 (7.4%) $371,659 (11.4%) 0.84 368
    2020-08-01 $284,900 (7.3%) $365,866 (10.8%) 0.81 353
    2020-09-01 $289,900 (12.2%) $386,475 (19.3%) 0.83 334
    2020-10-01 $264,500 (3.3%) $359,558 (12.9%) 0.76 340
    2020-11-01 $227,450 (-5.2%) $331,649 (5.0%) 0.65 348
    2020-12-01 $214,950 (-13.6%) $332,256 (5.0%) 0.63 306
    2021-01-01 $249,900 (5.2%) $361,509 (18.2%) 0.74 228
    2021-02-01 $249,950 (6.4%) $380,953 (21.1%) 0.72 172
    2021-03-01 $259,900 (0.0%) $400,754 (16.5%) 0.73 154
    2021-04-01 $281,750 (6.4%) $399,478 (28.7%) 0.76 143
    2021-05-01 $250,000 (-7.4%) $370,216 (14.3%) 0.66 189
    2021-06-01 $259,950 (-7.0%) $378,333 (12.3%) 0.68 221
    2021-07-01 $284,000 (-2.9%) $379,465 (2.1%) 0.74 267
    2021-08-01 $271,950 (-4.6%) $360,570 (-1.5%) 0.71 341
    2021-09-01 $257,450 (-11.2%) $346,756 (-10.3%) 0.68 391
    2021-10-01 $244,900 (-7.4%) $358,603 (-0.3%) 0.64 366
    2021-11-01 $239,950 (5.5%) $349,581 (5.4%) 0.63 318
    2021-12-01 $259,000 (20.5%) $363,367 (9.4%) 0.69 248
    2022-01-01 $245,000 (-2.0%) $370,949 (2.6%) 0.65 184
    2022-02-01 $272,450 (9.0%) $409,634 (7.5%) 0.69 117
    2022-03-01 $342,400 (31.7%) $456,041 (13.8%) 0.85 121
    2022-04-01 $289,000 (2.6%) $443,356 (11.0%) 0.68 130
    Racine's median listing price for 2022-04-01 was $289,000, a difference of $7,250 (2.6%) versus the prior year and $-53,400 versus the prior month.

    Racine's median listing price comes in at 68% of the national average.

    Racine's average listing price for 2022-04-01 was $443,356, a difference of $43,878 (11.0%) versus the prior year and $-12,685 versus the prior month.

    For the 2022-04-01 period, Racine had 130 MLS listings, a difference of 9 listings (7%) versus the prior month and -13 listings (-9%) 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 78 days 1,693 sqft
    2018-02-01 86 days 1,678 sqft
    2018-03-01 66 days 1,774 sqft
    2018-04-01 43 days 1,830 sqft
    2018-05-01 38 days 1,720 sqft
    2018-06-01 37 days 1,790 sqft
    2018-07-01 44 days 1,742 sqft
    2018-08-01 44 days 1,760 sqft
    2018-09-01 45 days 1,742 sqft
    2018-10-01 53 days 1,719 sqft
    2018-11-01 54 days 1,718 sqft
    2018-12-01 63 days 1,653 sqft
    2019-01-01 84 days 1,605 sqft
    2019-02-01 86 days 1,662 sqft
    2019-03-01 59 days 1,695 sqft
    2019-04-01 43 days 1,750 sqft
    2019-05-01 43 days 1,823 sqft
    2019-06-01 46 days 1,797 sqft
    2019-07-01 46 days 1,792 sqft
    2019-08-01 50 days 1,793 sqft
    2019-09-01 57 days 1,786 sqft
    2019-10-01 51 days 1,798 sqft
    2019-11-01 56 days 1,795 sqft
    2019-12-01 70 days 1,780 sqft
    2020-01-01 80 days 1,742 sqft
    2020-02-01 80 days 1,728 sqft
    2020-03-01 51 days 1,805 sqft
    2020-04-01 43 days 1,833 sqft
    2020-05-01 53 days 1,846 sqft
    2020-06-01 62 days 1,893 sqft
    2020-07-01 48 days 1,875 sqft
    2020-08-01 45 days 1,793 sqft
    2020-09-01 44 days 1,760 sqft
    2020-10-01 42 days 1,691 sqft
    2020-11-01 41 days 1,639 sqft
    2020-12-01 51 days 1,600 sqft
    2021-01-01 59 days 1,599 sqft
    2021-02-01 48 days 1,599 sqft
    2021-03-01 49 days 1,599 sqft
    2021-04-01 40 days 1,725 sqft
    2021-05-01 25 days 1,757 sqft
    2021-06-01 36 days 1,725 sqft
    2021-07-01 35 days 1,775 sqft
    2021-08-01 31 days 1,768 sqft
    2021-09-01 35 days 1,693 sqft
    2021-10-01 37 days 1,660 sqft
    2021-11-01 43 days 1,633 sqft
    2021-12-01 58 days 1,648 sqft
    2022-01-01 64 days 1,640 sqft
    2022-02-01 51 days 1,634 sqft
    2022-03-01 39 days 1,725 sqft
    2022-04-01 31 days 1,700 sqft
    Racine's median listing age (time on market) for 2022-04-01 was 31 days. This is -22% shorter than the same period one year ago.

    Racine's median square footage for active listings during the 2022-04-01 period was 1,700 sqft. One year prior, the average listing was 1,725 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.