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%.

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.