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 52 lenders originated 179 VA loans during 2023. The total origination value was $50,635,000, with an average VA loan value of $282,877.

Racine VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Racine averaged 0.4% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Racine's average VA mortgage closing costs are $5,230.

The average rate for the prior week (2024-11-22) was 6.77% and one month ago for the week of 2024-10-25, the average rate was 6.37%.

The average rate one year ago was 7.21%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.47%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 40 6.72% $7,558
QUICKEN LOANS, LLC 10 6.07% $12,307
NAVY FEDERAL CREDIT UNION 9 5.67% $6,562
FREEDOM MORTGAGE CORPORATION 8 6.31% $17,245
Barrington Bank & Trust Company, N.A. 6 6.67% $3,574
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.83% $4,819
UNITED WHOLESALE MORTGAGE, LLC 5 6.32% $7,867
The Federal Savings Bank 5 6.50% $14,327
CMG MORTGAGE, INC. 5 6.63% $7,566
GUARANTEED RATE, INC. 4 6.49% $7,242
Mr. Cooper ( Nationstar Mortgage ) 4 6.00% $14,376
PENNYMAC LOAN SERVICES, LLC 4 5.22% $3,566
USAA Federal Savings Bank 4 6.13% $7,525
WISCONSIN MORTGAGE CORPORATION 4 6.22% $3,304
CROSSCOUNTRY MORTGAGE, LLC 3 6.08% $9,897
LOANDEPOT.COM, LLC 3 6.71% $6,043
JPMorgan Chase Bank 3 6.41% $2,504
GATEWAY MORTGAGE CORPORATION 2 7.00% $2,552
AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.50% $5,418
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.94% $7,365
PLANET HOME LENDING, LLC 2 6.94% $2,811
U.S. Bank 2 6.13% $8,688
GSF Mortgage Corporation 2 6.69% $3,930
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.31% $2,634
NEW DAY FINANCIAL, LLC 2 7.50% $15,472
The Huntington National Bank 2 6.31% $6,189
VILLAGE CAPITAL MORTGAGE 1 5.75% $4,189
Plains Commerce Bank 1 5.25% $2,550
PLAZA HOME MORTGAGE, INC. 1 7.00% $21,596
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $4,838
SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $5,773
T2 FINANCIAL LLC 1 6.25% $8,667
A + MORTGAGE SERVICES, INC. 1 6.75% $2,295
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 6.13% $4,289
AMERISAVE MORTGAGE CORPORATION 1 5.00% $12,151
University of Wisconsin Credit Union 1 7.13% $3,631
V.I.P. MORTGAGE, INC. 1 7.00% $9,419
Colonial Savings, F.A. 1 6.50% $8,381
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.13% $5,874
CARDINAL FINANCIAL 1 6.25% $2,893
ENVOY MORTGAGE, LTD 1 7.13% $4,270
FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.88% $11,799
BNC National Bank 1 5.63% $17,495
GUARANTEED RATE AFFINITY, LLC 1 6.25% $3,630
HOMESIDE FINANCIAL, LLC 1 7.25% $9,296
Magnolia Bank 1 6.25% $17,847
Bank of England 1 6.25% $11,203
MOVEMENT MORTGAGE, LLC 1 6.75% $8,303
NATIONS RELIABLE LENDING, LLC 1 7.13% $10,800
Associated Bank 1 6.38% $263
NexBank 1 6.13% $4,922
North Shore Bank FSB 1 7.63% $5,925

The top Racine VA lender as defined by loan originations is Mortgage Research Center, LLC, with 40 VA loans originated. Their average total fees are $7,558, which is $4,750 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Racine VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,558), QUICKEN LOANS, LLC ($12,307), .

The lowest rate Racine VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.07%), Mortgage Research Center, LLC (6.72%), .


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 $180,700 (9.5%) $234,684 (5.6%) 0.67 546
2018-02-01 $190,950 (14.9%) $237,575 (6.9%) 0.69 529
2018-03-01 $199,900 (9.9%) $246,275 (7.6%) 0.70 551
2018-04-01 $218,700 (12.2%) $255,336 (9.8%) 0.74 582
2018-05-01 $229,450 (14.8%) $261,007 (8.2%) 0.77 631
2018-06-01 $239,900 (19.5%) $270,305 (11.0%) 0.80 667
2018-07-01 $235,750 (17.9%) $268,046 (9.6%) 0.79 698
2018-08-01 $227,000 (13.8%) $266,103 (8.4%) 0.76 767
2018-09-01 $229,900 (10.0%) $268,453 (8.9%) 0.77 795
2018-10-01 $225,950 (19.0%) $266,165 (8.8%) 0.77 796
2018-11-01 $222,400 (18.6%) $266,792 (11.0%) 0.75 753
2018-12-01 $210,000 (16.7%) $258,952 (11.1%) 0.72 669
2019-01-01 $199,950 (10.7%) $257,494 (9.7%) 0.69 587
2019-02-01 $228,450 (19.6%) $277,973 (17.0%) 0.77 552
2019-03-01 $228,243 (14.2%) $280,813 (14.0%) 0.75 598
2019-04-01 $244,900 (12.0%) $298,569 (16.9%) 0.78 662
2019-05-01 $254,475 (10.9%) $309,779 (18.7%) 0.80 708
2019-06-01 $239,200 (-0.3%) $295,002 (9.1%) 0.75 760
2019-07-01 $229,950 (-2.5%) $290,090 (8.2%) 0.72 807
2019-08-01 $229,655 (1.2%) $288,245 (8.3%) 0.73 824
2019-09-01 $229,286 (-0.3%) $287,268 (7.0%) 0.73 822
2019-10-01 $226,950 (0.4%) $286,104 (7.5%) 0.73 821
2019-11-01 $215,000 (-3.3%) $278,364 (4.3%) 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 (-8.0%) 0.73 623
2020-05-01 $240,450 (-5.5%) $282,504 (-8.8%) 0.73 632
2020-06-01 $245,975 (2.8%) $284,125 (-3.7%) 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%) 0.59 489
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
2023-09-01 $352,450 (27.0%) $409,717 (15.5%) 0.82 416
2023-10-01 $347,200 (21.9%) $404,783 (13.0%) 0.82 423
2023-11-01 $340,975 (18.6%) $402,043 (13.3%) 0.81 413
2023-12-01 $334,000 (11.4%) $383,499 (7.5%) 0.81 366
2024-01-01 $335,700 (6.4%) $377,368 (5.5%) 0.82 322
2024-02-01 $345,950 (14.4%) $376,873 (4.6%) 0.83 323
2024-03-01 $348,000 (3.3%) $389,624 (4.2%) 0.82 298
2024-04-01 $342,000 (-2.3%) $416,635 (6.6%) 0.80 281
2024-05-01 $349,900 (0.0%) $433,618 (11.5%) 0.79 381
2024-06-01 $349,900 (6.1%) $422,988 (11.4%) 0.79 429
2024-07-01 $342,450 (-2.1%) $426,264 (10.8%) 0.78 399
2024-08-01 $339,900 (-2.9%) $417,792 (7.3%) 0.79 438
2024-09-01 $323,495 (-8.2%) $400,905 (-2.2%) 0.76 465
2024-10-01 $322,750 (-7.0%) $397,007 (-1.9%) 0.76 476
Racine's median listing price for 2024-10-01 was $322,750, a difference of $-24,450 (-7.0%) versus the prior year and $-745 versus the prior month.

Racine's median listing price comes in at 76% of the national average.

Racine's average listing price for 2024-10-01 was $397,007, a difference of $-7,776 (-1.9%) versus the prior year and $-3,898 versus the prior month.

For the 2024-10-01 period, Racine had 476 MLS listings, a difference of 11 listings (2%) versus the prior month and 53 listings (13%) 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 1,622 sqft
2018-02-01 68 days 1,633 sqft
2018-03-01 45 days 1,642 sqft
2018-04-01 33 days 1,695 sqft
2018-05-01 36 days 1,651 sqft
2018-06-01 36 days 1,669 sqft
2018-07-01 39 days 1,634 sqft
2018-08-01 38 days 1,620 sqft
2018-09-01 40 days 1,660 sqft
2018-10-01 45 days 1,669 sqft
2018-11-01 49 days 1,676 sqft
2018-12-01 59 days 1,632 sqft
2019-01-01 77 days 1,565 sqft
2019-02-01 72 days 1,611 sqft
2019-03-01 56 days 1,645 sqft
2019-04-01 39 days 1,675 sqft
2019-05-01 39 days 1,767 sqft
2019-06-01 38 days 1,736 sqft
2019-07-01 40 days 1,709 sqft
2019-08-01 44 days 1,734 sqft
2019-09-01 46 days 1,736 sqft
2019-10-01 47 days 1,738 sqft
2019-11-01 52 days 1,734 sqft
2019-12-01 67 days 1,719 sqft
2020-01-01 75 days 1,700 sqft
2020-02-01 66 days 1,702 sqft
2020-03-01 43 days 1,746 sqft
2020-04-01 41 days 1,744 sqft
2020-05-01 46 days 1,742 sqft
2020-06-01 43 days 1,730 sqft
2020-07-01 39 days 1,791 sqft
2020-08-01 36 days 1,729 sqft
2020-09-01 36 days 1,685 sqft
2020-10-01 37 days 1,637 sqft
2020-11-01 40 days 1,604 sqft
2020-12-01 45 days 1,596 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 1,612 sqft
2021-05-01 23 days 1,678 sqft
2021-06-01 29 days 1,717 sqft
2021-07-01 30 days 1,674 sqft
2021-08-01 30 days 1,667 sqft
2021-09-01 34 days 1,666 sqft
2021-10-01 36 days 1,627 sqft
2021-11-01 43 days 1,597 sqft
2021-12-01 53 days 1,608 sqft
2022-01-01 59 days 1,618 sqft
2022-02-01 43 days 1,629 sqft
2022-03-01 28 days 1,665 sqft
2022-04-01 28 days 1,634 sqft
2022-05-01 25 days 1,653 sqft
2022-06-01 23 days 1,667 sqft
2022-07-01 30 days 1,691 sqft
2022-08-01 34 days 1,677 sqft
2022-09-01 37 days 1,675 sqft
2022-10-01 36 days 1,648 sqft
2022-11-01 43 days 1,614 sqft
2022-12-01 51 days 1,590 sqft
2023-01-01 54 days 1,562 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
2023-09-01 32 days 1,692 sqft
2023-10-01 31 days 1,672 sqft
2023-11-01 35 days 1,698 sqft
2023-12-01 46 days 1,626 sqft
2024-01-01 56 days 1,616 sqft
2024-02-01 44 days 1,632 sqft
2024-03-01 37 days 1,622 sqft
2024-04-01 34 days 1,683 sqft
2024-05-01 26 days 1,693 sqft
2024-06-01 31 days 1,690 sqft
2024-07-01 34 days 1,691 sqft
2024-08-01 31 days 1,640 sqft
2024-09-01 36 days 1,647 sqft
2024-10-01 30 days 1,676 sqft
Racine's median listing age (time on market) for 2024-10-01 was 30 days. This is -1% shorter than the same period one year ago.

Racine's median square footage for active listings during the 2024-10-01 period was 1,676 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.