Racine VA Loan Rates, Closing Costs & Stats

RACINE, WI

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    • 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 6.86% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.79% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.24%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.39%.

    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
    Racine's median listing price for 2024-03-01 was $348,000, a difference of $11,050 (3.3%) versus the prior year and $2,050 versus the prior month.

    Racine's median listing price comes in at 82% of the national average.

    Racine's average listing price for 2024-03-01 was $389,624, a difference of $15,685 (4.2%) versus the prior year and $12,751 versus the prior month.

    For the 2024-03-01 period, Racine had 298 MLS listings, a difference of -25 listings (-8%) versus the prior month and -18 listings (-6%) 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
    Racine's median listing age (time on market) for 2024-03-01 was 37 days. This is -14% shorter than the same period one year ago.

    Racine's median square footage for active listings during the 2024-03-01 period was 1,622 sqft. One year prior, the average listing was 1,615 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.