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 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.