Rochelle VA Loan Rates, Closing Costs & Stats

Rochelle, IL

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 7.07% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

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

The average rate for the prior week (2024-03-15) was 6.68% and one month ago for the week of 2024-02-16, the average rate was 7.01%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.64%.

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
Rochelle's median listing price for 2024-02-01 was $203,675, a difference of $-7,950 (-3.8%) versus the prior year and $-50 versus the prior month.

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

Rochelle's average listing price for 2024-02-01 was $237,763, a difference of $-33,934 (-12.5%) versus the prior year and $-6,416 versus the prior month.

For the 2024-02-01 period, Rochelle had 62 MLS listings, a difference of -8 listings (-11%) versus the prior month and 0 listings (0%) 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
Rochelle's median listing age (time on market) for 2024-02-01 was 0 days.

Rochelle's median square footage for active listings during the 2024-02-01 period was 1,826 sqft. One year prior, the average listing was 1,841 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.