Racine VA Loan Rates, Closing Costs & Stats
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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.