Rochelle VA Loan Rates, Closing Costs & Stats

Rochelle, IL

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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.

    Rochelle's 19 lenders originated 45 VA loans during 2023. The total origination value was $10,305,000, with an average VA loan value of $229,000.

    Rochelle VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Rochelle averaged 6.21% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Rochelle's average VA mortgage closing costs are $4,842.

    The average rate for the prior week (2024-12-06) was 6.34% and one month ago for the week of 2024-11-08, the average rate was 6.84%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Rochelle 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 Rochelle level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 17 6.87% $4,794
    QUICKEN LOANS, LLC 4 6.09% $13,699
    USAA Federal Savings Bank 3 6.04% $9,835
    LOANDEPOT.COM, LLC 3 6.29% $10,304
    GUARANTEED RATE, INC. 2 6.50% $2,941
    NEW DAY FINANCIAL, LLC 2 8.25% $8,457
    Community Mortgage Banc Corporation 1 7.75% $2,220
    Magnolia Bank 1 6.38% $18,260
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $5,239
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $8,183
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $6,681
    NEWREZ LLC 1 6.25% $14,611
    Old Second National Bank 1 6.50% $4,011
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $6,262
    COMPASS MORTGAGE, INC. 1 7.25% $10,865
    UNITED WHOLESALE MORTGAGE, LLC 1 7.00% $5,650
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.63% $6,470
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $5,725
    JPMorgan Chase Bank 1 4.88% $6,837

    The top Rochelle VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $4,794, which is $8,905 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Rochelle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,794), .

    The lowest rate Rochelle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.87%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Rochelle (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 $144,875 (5.1%) $191,224 (0.3%) 0.00 213
    2018-02-01 $143,150 (3.8%) $196,226 (9.2%) 0.00 197
    2018-03-01 $149,000 (10.4%) $198,511 (10.4%) 0.00 189
    2018-04-01 $172,450 (27.8%) $202,055 (8.5%) 0.00 191
    2018-05-01 $179,900 (33.4%) $211,691 (10.3%) 0.00 215
    2018-06-01 $171,000 (22.4%) $206,236 (7.2%) 0.00 229
    2018-07-01 $166,325 (19.3%) $200,475 (5.2%) 0.00 251
    2018-08-01 $163,425 (17.6%) $199,538 (6.3%) 0.00 264
    2018-09-01 $161,000 (15.1%) $201,714 (8.2%) 0.00 263
    2018-10-01 $167,500 (18.0%) $219,097 (20.3%) 0.00 265
    2018-11-01 $169,925 (17.3%) $220,686 (17.9%) 0.00 263
    2018-12-01 $169,900 (17.3%) $221,421 (17.2%) 0.00 244
    2019-01-01 $179,675 (24.0%) $223,463 (16.9%) 0.00 226
    2019-02-01 $179,900 (25.7%) $223,655 (14.0%) 0.00 207
    2019-03-01 $182,900 (22.8%) $230,222 (16.0%) 0.00 198
    2019-04-01 $189,425 (9.8%) $238,324 (18.0%) 0.00 205
    2019-05-01 $195,975 (8.9%) $241,484 (14.1%) 0.00 231
    2019-06-01 $189,900 (11.1%) $244,836 (18.7%) 0.00 251
    2019-07-01 $186,450 (12.1%) $238,392 (18.9%) 0.00 259
    2019-08-01 $180,882 (10.7%) $230,014 (15.3%) 0.00 261
    2019-09-01 $174,705 (8.5%) $231,868 (15.0%) 0.00 261
    2019-10-01 $169,900 (1.4%) $231,642 (5.7%) 0.00 260
    2019-11-01 $173,900 (2.3%) $226,731 (2.7%) 0.00 251
    2019-12-01 $169,900 (0.0%) $221,088 (-0.2%) 0.00 229
    2020-01-01 $169,450 (-5.7%) $225,290 (0.8%) 0.00 215
    2020-02-01 $175,000 (-2.7%) $228,081 (2.0%) 0.00 210
    2020-03-01 $178,325 (-2.5%) $233,577 (1.5%) 0.00 204
    2020-04-01 $178,700 (-5.7%) $230,431 (-3.3%) 0.00 199
    2020-05-01 $179,900 (-8.2%) $235,542 (-2.5%) 0.00 190
    2020-06-01 $179,900 (-5.3%) $239,561 (-2.2%) 0.00 188
    2020-07-01 $185,250 (-0.6%) $248,638 (4.3%) 0.00 175
    2020-08-01 $169,900 (-6.1%) $242,610 (5.5%) 0.00 167
    2020-09-01 $169,950 (-2.7%) $237,477 (2.4%) 0.00 177
    2020-10-01 $161,400 (-5.0%) $231,741 (0.0%) 0.00 175
    2020-11-01 $169,700 (-2.4%) $245,872 (8.4%) 0.00 152
    2020-12-01 $162,200 (-4.5%) $242,714 (9.8%) 0.00 129
    2021-01-01 $150,000 (-11.5%) $242,314 (7.6%) 0.00 106
    2021-02-01 $145,975 (-16.6%) $240,196 (5.3%) 0.00 88
    2021-03-01 $157,475 (-11.7%) $270,342 (15.7%) 0.00 68
    2021-04-01 $167,450 (-6.3%) $284,472 (23.5%) 0.00 74
    2021-05-01 $165,000 (-8.3%) $279,617 (18.7%) 0.00 74
    2021-06-01 $162,475 (-9.7%) $262,341 (9.5%) 0.00 87
    2021-07-01 $188,900 (2.0%) $310,786 (25.0%) 0.00 100
    2021-08-01 $185,450 (9.2%) $316,123 (30.3%) 0.00 98
    2021-09-01 $192,691 (13.4%) $290,598 (22.4%) 0.00 101
    2021-10-01 $190,400 (18.0%) $308,816 (33.3%) 0.00 89
    2021-11-01 $177,475 (4.6%) $290,060 (18.0%) 0.00 94
    2021-12-01 $182,450 (12.5%) $303,534 (25.1%) 0.00 89
    2022-01-01 $190,000 (26.7%) $333,246 (37.5%) 0.00 74
    2022-02-01 $187,450 (28.4%) $360,598 (50.1%) 0.00 61
    2022-03-01 $194,975 (23.8%) $407,342 (50.7%) 0.00 46
    2022-04-01 $179,900 (7.4%) $385,885 (35.7%) 0.00 49
    2022-05-01 $210,000 (27.3%) $353,142 (26.3%) 0.00 69
    2022-06-01 $230,975 (42.2%) $330,958 (26.2%) 0.00 72
    2022-07-01 $209,000 (10.6%) $279,598 (-10.0%) 0.00 80
    2022-08-01 $224,960 (21.3%) $288,966 (-8.6%) 0.00 77
    2022-09-01 $198,500 (3.0%) $256,221 (-11.8%) 0.00 81
    2022-10-01 $205,000 (7.7%) $262,273 (-15.1%) 0.00 79
    2022-11-01 $192,400 (8.4%) $257,603 (-11.2%) 0.00 87
    2022-12-01 $186,000 (2.0%) $264,123 (-13.0%) 0.00 71
    2023-01-01 $191,200 (0.6%) $264,134 (-20.7%) 0.00 67
    2023-02-01 $211,625 (12.9%) $271,697 (-24.7%) 0.00 62
    2023-03-01 $223,750 (14.8%) $252,426 (-38.0%) 0.00 63
    2023-04-01 $222,500 (23.7%) $242,239 (-37.2%) 0.00 54
    2023-05-01 $216,925 (3.3%) $239,291 (-32.2%) 0.00 54
    2023-06-01 $193,975 (-16.0%) $228,055 (-31.1%) 0.00 54
    2023-07-01 $218,950 (4.8%) $251,261 (-10.1%) 0.00 47
    2023-08-01 $239,900 (6.6%) $259,032 (-10.4%) 0.00 50
    2023-09-01 $249,000 (25.4%) $265,823 (3.8%) 0.00 57
    2023-10-01 $248,425 (21.2%) $271,328 (3.5%) 0.00 73
    2023-11-01 $239,450 (24.5%) $267,947 (4.0%) 0.00 80
    2023-12-01 $214,450 (15.3%) $247,547 (-6.3%) 0.00 72
    2024-01-01 $203,725 (6.6%) $244,179 (-7.6%) 0.00 70
    2024-02-01 $203,675 (-3.8%) $237,763 (-12.5%) 0.00 62
    2024-03-01 $217,400 (-2.8%) $260,770 (3.3%) 0.00 52
    2024-04-01 $213,700 (-4.0%) $282,435 (16.6%) 0.00 50
    2024-05-01 $244,225 (12.6%) $291,979 (22.0%) 0.00 48
    2024-06-01 $228,450 (17.8%) $285,424 (25.2%) 0.00 49
    2024-07-01 $244,900 (11.9%) $304,013 (21.0%) 0.00 60
    2024-08-01 $274,900 (14.6%) $301,896 (16.6%) 0.00 73
    2024-09-01 $270,925 (8.8%) $294,482 (10.8%) 0.00 75
    2024-10-01 $258,000 (3.9%) $288,599 (6.4%) 0.00 77
    2024-11-01 $253,475 (5.9%) $288,800 (7.8%) 0.00 78
    Rochelle's median listing price for 2024-11-01 was $253,475, a difference of $14,025 (5.9%) versus the prior year and $-4,525 versus the prior month.

    Rochelle's median listing price comes in at 0% of the national average.

    Rochelle's average listing price for 2024-11-01 was $288,800, a difference of $20,853 (7.8%) versus the prior year and $201 versus the prior month.

    For the 2024-11-01 period, Rochelle had 78 MLS listings, a difference of 1 listings (1%) versus the prior month and -2 listings (-3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Rochelle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,814 sqft
    2018-02-01 0 days 1,800 sqft
    2018-03-01 0 days 1,827 sqft
    2018-04-01 0 days 1,910 sqft
    2018-05-01 0 days 1,944 sqft
    2018-06-01 0 days 1,938 sqft
    2018-07-01 0 days 1,887 sqft
    2018-08-01 0 days 1,850 sqft
    2018-09-01 0 days 1,845 sqft
    2018-10-01 0 days 1,902 sqft
    2018-11-01 0 days 1,902 sqft
    2018-12-01 0 days 1,915 sqft
    2019-01-01 0 days 1,901 sqft
    2019-02-01 0 days 1,876 sqft
    2019-03-01 0 days 1,827 sqft
    2019-04-01 0 days 1,818 sqft
    2019-05-01 0 days 1,850 sqft
    2019-06-01 0 days 1,900 sqft
    2019-07-01 0 days 1,996 sqft
    2019-08-01 0 days 2,010 sqft
    2019-09-01 0 days 1,965 sqft
    2019-10-01 0 days 1,970 sqft
    2019-11-01 0 days 1,976 sqft
    2019-12-01 0 days 1,925 sqft
    2020-01-01 0 days 1,946 sqft
    2020-02-01 0 days 1,925 sqft
    2020-03-01 0 days 1,926 sqft
    2020-04-01 0 days 2,018 sqft
    2020-05-01 0 days 2,086 sqft
    2020-06-01 0 days 2,078 sqft
    2020-07-01 0 days 2,070 sqft
    2020-08-01 0 days 1,975 sqft
    2020-09-01 0 days 1,979 sqft
    2020-10-01 0 days 1,936 sqft
    2020-11-01 0 days 1,946 sqft
    2020-12-01 0 days 1,760 sqft
    2021-01-01 0 days 1,769 sqft
    2021-02-01 0 days 1,771 sqft
    2021-03-01 0 days 1,772 sqft
    2021-04-01 0 days 1,774 sqft
    2021-05-01 0 days 1,570 sqft
    2021-06-01 0 days 1,693 sqft
    2021-07-01 0 days 1,920 sqft
    2021-08-01 0 days 1,811 sqft
    2021-09-01 0 days 1,866 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,800 sqft
    2021-12-01 0 days 1,751 sqft
    2022-01-01 0 days 1,710 sqft
    2022-02-01 0 days 1,678 sqft
    2022-03-01 0 days 1,908 sqft
    2022-04-01 0 days 1,976 sqft
    2022-05-01 0 days 1,981 sqft
    2022-06-01 0 days 2,000 sqft
    2022-07-01 0 days 2,009 sqft
    2022-08-01 0 days 2,052 sqft
    2022-09-01 0 days 1,906 sqft
    2022-10-01 0 days 2,100 sqft
    2022-11-01 0 days 1,968 sqft
    2022-12-01 0 days 1,848 sqft
    2023-01-01 0 days 1,848 sqft
    2023-02-01 0 days 1,841 sqft
    2023-03-01 0 days 1,848 sqft
    2023-04-01 0 days 1,825 sqft
    2023-05-01 0 days 1,802 sqft
    2023-06-01 0 days 1,731 sqft
    2023-07-01 0 days 1,794 sqft
    2023-08-01 0 days 1,894 sqft
    2023-09-01 0 days 1,952 sqft
    2023-10-01 0 days 1,919 sqft
    2023-11-01 0 days 1,864 sqft
    2023-12-01 0 days 1,831 sqft
    2024-01-01 0 days 1,833 sqft
    2024-02-01 0 days 1,826 sqft
    2024-03-01 0 days 2,018 sqft
    2024-04-01 0 days 1,868 sqft
    2024-05-01 0 days 1,900 sqft
    2024-06-01 0 days 1,950 sqft
    2024-07-01 0 days 1,924 sqft
    2024-08-01 0 days 1,903 sqft
    2024-09-01 0 days 1,923 sqft
    2024-10-01 0 days 1,789 sqft
    2024-11-01 0 days 1,787 sqft
    Rochelle's median listing age (time on market) for 2024-11-01 was 0 days.

    Rochelle's median square footage for active listings during the 2024-11-01 period was 1,787 sqft. One year prior, the average listing was 1,864 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.