Racine VA Loans

RACINE, WI

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.