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 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 6.59% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

    Racine's average VA mortgage closing costs are $4,768.

    The average rate for the prior week (2022-11-25) was 6.63% and one month ago for the week of 2022-10-28, the average rate was 7.02%.

    The average rate one year ago was 3.4%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.35%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 MORTGAGE 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 $192,000 (16.4%) $253,027 (13.8%) 0.71 396
    2018-02-01 $219,750 (32.3%) $260,262 (17.1%) 0.80 329
    2018-03-01 $237,500 (30.6%) $280,662 (22.6%) 0.83 319
    2018-04-01 $252,275 (13.4%) $287,988 (12.2%) 0.86 300
    2018-05-01 $274,900 (17.1%) $296,584 (11.5%) 0.92 346
    2018-06-01 $274,900 (18.8%) $310,569 (17.1%) 0.92 406
    2018-07-01 $274,900 (21.4%) $302,460 (14.7%) 0.92 450
    2018-08-01 $267,400 (18.9%) $295,473 (11.8%) 0.90 509
    2018-09-01 $255,000 (13.3%) $291,583 (11.0%) 0.86 545
    2018-10-01 $249,900 (14.1%) $288,620 (10.6%) 0.84 564
    2018-11-01 $252,450 (23.2%) $285,360 (11.7%) 0.86 558
    2018-12-01 $234,900 (30.6%) $271,438 (10.8%) 0.81 523
    2019-01-01 $219,925 (14.5%) $268,389 (6.1%) 0.76 458
    2019-02-01 $267,400 (21.7%) $305,955 (17.6%) 0.90 399
    2019-03-01 $258,513 (8.9%) $310,112 (10.5%) 0.85 398
    2019-04-01 $258,513 (2.5%) $316,375 (9.9%) 0.82 402
    2019-05-01 $282,200 (2.7%) $334,402 (12.8%) 0.88 424
    2019-06-01 $264,900 (-3.6%) $326,294 (5.1%) 0.83 486
    2019-07-01 $264,900 (-3.6%) $321,496 (6.3%) 0.83 524
    2019-08-01 $255,809 (-4.3%) $315,199 (6.7%) 0.81 558
    2019-09-01 $249,673 (-2.1%) $308,476 (5.8%) 0.80 577
    2019-10-01 $245,582 (-1.7%) $303,397 (5.1%) 0.79 596
    2019-11-01 $229,450 (-9.1%) $297,153 (4.1%) 0.75 581
    2019-12-01 $225,950 (-3.8%) $294,311 (8.4%) 0.75 484
    2020-01-01 $223,725 (1.7%) $296,129 (10.3%) 0.75 447
    2020-02-01 $214,900 (-19.6%) $304,102 (-0.6%) 0.70 404
    2020-03-01 $248,425 (-3.9%) $333,566 (7.6%) 0.78 392
    2020-04-01 $254,900 (-1.4%) $298,442 (-5.7%) 0.80 401
    2020-05-01 $262,900 (-6.8%) $311,089 (-7.0%) 0.80 367
    2020-06-01 $269,950 (1.9%) $320,397 (-1.8%) 0.79 343
    2020-07-01 $274,450 (3.6%) $347,706 (8.2%) 0.80 350
    2020-08-01 $269,900 (5.5%) $339,072 (7.6%) 0.77 336
    2020-09-01 $276,175 (10.6%) $354,623 (15.0%) 0.79 324
    2020-10-01 $249,950 (1.8%) $327,297 (7.9%) 0.72 315
    2020-11-01 $218,675 (-4.7%) $302,199 (1.7%) 0.64 325
    2020-12-01 $202,247 (-10.5%) $300,307 (2.0%) 0.60 292
    2021-01-01 $234,950 (5.0%) $332,902 (12.4%) 0.70 213
    2021-02-01 $240,075 (11.7%) $357,727 (17.6%) 0.70 166
    2021-03-01 $245,750 (-1.1%) $375,467 (12.6%) 0.70 144
    2021-04-01 $268,700 (5.4%) $381,601 (27.9%) 0.73 139
    2021-05-01 $240,400 (-8.6%) $353,132 (13.5%) 0.64 191
    2021-06-01 $249,925 (-7.4%) $364,643 (13.8%) 0.66 214
    2021-07-01 $273,000 (-0.5%) $361,683 (4.0%) 0.72 254
    2021-08-01 $252,450 (-6.5%) $343,099 (1.2%) 0.67 320
    2021-09-01 $244,900 (-11.3%) $329,860 (-7.0%) 0.65 365
    2021-10-01 $239,900 (-4.0%) $337,520 (3.1%) 0.64 346
    2021-11-01 $229,900 (5.1%) $329,661 (9.1%) 0.61 301
    2021-12-01 $245,175 (21.2%) $343,151 (14.3%) 0.66 234
    2022-01-01 $229,900 (-2.2%) $345,401 (3.8%) 0.62 177
    2022-02-01 $259,950 (8.3%) $393,974 (10.1%) 0.68 116
    2022-03-01 $307,750 (25.2%) $403,721 (7.5%) 0.77 118
    2022-04-01 $279,900 (4.2%) $412,873 (8.2%) 0.67 126
    2022-05-01 $303,700 (26.3%) $404,853 (14.7%) 0.69 185
    2022-06-01 $302,425 (21.0%) $390,793 (7.2%) 0.67 251
    2022-07-01 $329,900 (20.8%) $403,557 (11.6%) 0.75 302
    2022-08-01 $323,675 (28.2%) $398,644 (16.2%) 0.75 317
    2022-09-01 $308,675 (26.0%) $390,478 (18.4%) 0.72 314
    2022-10-01 $299,900 (25.0%) $386,638 (14.6%) 0.71 350
    2022-11-01 $324,900 (41.3%) $377,595 (14.5%) 0.78 304
    Racine's median listing price for 2022-11-01 was $324,900, a difference of $95,000 (41.3%) versus the prior year and $25,000 versus the prior month.

    Racine's median listing price comes in at 78% of the national average.

    Racine's average listing price for 2022-11-01 was $377,595, a difference of $47,934 (14.5%) versus the prior year and $-9,043 versus the prior month.

    For the 2022-11-01 period, Racine had 304 MLS listings, a difference of -46 listings (-13%) versus the prior month and 3 listings (1%) 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 76 days 1,641 sqft
    2018-02-01 83 days 1,628 sqft
    2018-03-01 62 days 1,739 sqft
    2018-04-01 38 days 1,781 sqft
    2018-05-01 33 days 1,675 sqft
    2018-06-01 37 days 1,699 sqft
    2018-07-01 44 days 1,664 sqft
    2018-08-01 42 days 1,695 sqft
    2018-09-01 45 days 1,683 sqft
    2018-10-01 53 days 1,688 sqft
    2018-11-01 52 days 1,686 sqft
    2018-12-01 63 days 1,632 sqft
    2019-01-01 85 days 1,568 sqft
    2019-02-01 85 days 1,633 sqft
    2019-03-01 65 days 1,667 sqft
    2019-04-01 39 days 1,713 sqft
    2019-05-01 43 days 1,789 sqft
    2019-06-01 45 days 1,769 sqft
    2019-07-01 44 days 1,755 sqft
    2019-08-01 47 days 1,776 sqft
    2019-09-01 49 days 1,769 sqft
    2019-10-01 51 days 1,768 sqft
    2019-11-01 54 days 1,779 sqft
    2019-12-01 72 days 1,742 sqft
    2020-01-01 80 days 1,737 sqft
    2020-02-01 82 days 1,697 sqft
    2020-03-01 49 days 1,786 sqft
    2020-04-01 43 days 1,795 sqft
    2020-05-01 51 days 1,795 sqft
    2020-06-01 59 days 1,835 sqft
    2020-07-01 48 days 1,853 sqft
    2020-08-01 44 days 1,779 sqft
    2020-09-01 43 days 1,748 sqft
    2020-10-01 42 days 1,676 sqft
    2020-11-01 42 days 1,600 sqft
    2020-12-01 50 days 1,589 sqft
    2021-01-01 58 days 1,594 sqft
    2021-02-01 43 days 1,596 sqft
    2021-03-01 46 days 1,596 sqft
    2021-04-01 33 days 1,674 sqft
    2021-05-01 18 days 1,719 sqft
    2021-06-01 29 days 1,684 sqft
    2021-07-01 32 days 1,728 sqft
    2021-08-01 29 days 1,733 sqft
    2021-09-01 35 days 1,667 sqft
    2021-10-01 38 days 1,630 sqft
    2021-11-01 47 days 1,620 sqft
    2021-12-01 68 days 1,627 sqft
    2022-01-01 74 days 1,619 sqft
    2022-02-01 52 days 1,566 sqft
    2022-03-01 32 days 1,679 sqft
    2022-04-01 26 days 1,676 sqft
    2022-05-01 26 days 1,712 sqft
    2022-06-01 22 days 1,671 sqft
    2022-07-01 30 days 1,728 sqft
    2022-08-01 36 days 1,702 sqft
    2022-09-01 39 days 1,691 sqft
    2022-10-01 36 days 1,664 sqft
    2022-11-01 46 days 1,611 sqft
    Racine's median listing age (time on market) for 2022-11-01 was 46 days. This is -3% shorter than the same period one year ago.

    Racine's median square footage for active listings during the 2022-11-01 period was 1,611 sqft. One year prior, the average listing was 1,620 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.