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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.