Saginaw VA Loan Rates, Closing Costs & Stats

SAGINAW, MI

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.

Saginaw's 49 lenders originated 210 VA loans during 2022. The total origination value was $39,260,000, with an average VA loan value of $186,952.

Saginaw VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Saginaw averaged 0.17% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Saginaw's average VA mortgage closing costs are $4,147.

The average rate for the prior week (2024-02-16) was 6.64% and one month ago for the week of 2024-01-19, the average rate was 6.4%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.56%.

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

Saginaw 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 Saginaw level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 51 5.33% $4,076
QUICKEN LOANS, LLC 24 4.69% $8,199
CARDINAL FINANCIAL 7 3.91% $8,994
NEW DAY FINANCIAL, LLC 7 5.23% $8,077
PENNYMAC LOAN SERVICES, LLC 7 3.77% $5,055
UNITED WHOLESALE MORTGAGE, LLC 7 4.32% $5,073
Barrington Bank & Trust Company, N.A. 6 4.85% $2,603
ACADEMY MORTGAGE CORPORATION 5 5.53% $2,109
USAA Federal Savings Bank 5 4.10% $4,615
NAVY FEDERAL CREDIT UNION 5 4.18% $2,884
LOANDEPOT.COM, LLC 5 4.72% $6,107
Flagstar Bank, FSB 4 3.53% $4,421
UNION HOME MORTGAGE CORP. 4 4.19% $3,495
Mr. Cooper ( Nationstar Mortgage ) 4 5.19% $5,576
The Huntington National Bank 4 5.09% $5,382
GENEVA FINANCIAL, LLC 3 5.67% $9,139
ENVOY MORTGAGE, LTD 3 5.71% $5,380
FREEDOM MORTGAGE CORPORATION 3 5.08% $12,797
RELIANCE FIRST CAPITAL, LLC 2 4.50% $8,827
HOME POINT FINANCIAL CORPORATION 2 3.81% $4,375
Preston Home Loans Inc 2 6.38% $9,096
PLAZA HOME MORTGAGE, INC. 2 5.88% $7,826
MORTGAGE 1 INCORPORATED 2 6.13% $6,375
AMERISAVE MORTGAGE CORPORATION 2 4.75% $5,287
FINANCE OF AMERICA MORTGAGE LLC 2 3.88% $10,911
CLEARPATH LENDING 2 3.88% $6,444
J. VIRGIL, INC. 2 6.13% $7,744
VILLAGE CAPITAL MORTGAGE 1 2.25% $1,463
Bank of America 1 5.25% $5,753
CALIBER HOME LOANS, INC. 1 3.25% $5,355
Carrington Mortgage Services, LLC 1 5.63% $8,449
Century Mortgage Company DBA Century Lending Company 1 4.75% $3,220
Citizens Bank 1 5.00% $3,821
CMG MORTGAGE, INC. 1 4.99% $11,040
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.25% $81
LAKE MICHIGAN CREDIT UNION 1 3.50% $2,975
Lakeview Community Capital, LLC 1 2.50% $1,763
LAKEVIEW LOAN SERVICING, LLC 1 2.99% $2,059
LEGEND LENDING CORPORATION 1 5.63% $3,812
LOANPAL, LLC 1 5.13% $7,443
Low VA Rates, LLC 1 5.88% $3,430
MICHIGAN MUTUAL, INC. 1 5.50% $3,316
MID AMERICA MORTGAGE, INC. 1 4.13% $3,736
MOVEMENT MORTGAGE, LLC 1 5.63% $7,030
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.75% $6,868
ROYAL UNITED MORTGAGE LLC 1 5.75% $4,078
STAUNTON FINANCIAL, INC. 1 6.75% $8,603
The Central Trust Bank 1 4.63% $4,175
The Federal Savings Bank 1 5.63% $21,621

The top Saginaw VA lender as defined by loan originations is Mortgage Research Center, LLC, with 51 VA loans originated. Their average total fees are $4,076, which is $4,123 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Saginaw VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,076), QUICKEN LOANS, LLC ($8,199), .

The lowest rate Saginaw VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.69%), Mortgage Research Center, LLC (5.33%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Saginaw (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 $89,450 (-6.4%) $128,689 (-0.3%) 0.33 562
2018-02-01 $86,481 (-10.3%) $129,229 (0.8%) 0.31 542
2018-03-01 $87,125 (-3.2%) $131,117 (1.6%) 0.31 516
2018-04-01 $98,900 (8.4%) $136,482 (3.8%) 0.34 491
2018-05-01 $107,425 (4.9%) $148,642 (7.4%) 0.36 477
2018-06-01 $112,450 (6.4%) $153,196 (10.0%) 0.38 514
2018-07-01 $117,075 (6.5%) $154,973 (12.5%) 0.39 539
2018-08-01 $114,900 (4.5%) $150,892 (8.8%) 0.38 570
2018-09-01 $119,900 (9.1%) $156,322 (10.5%) 0.40 601
2018-10-01 $123,125 (21.9%) $156,617 (13.8%) 0.42 590
2018-11-01 $122,250 (23.2%) $153,680 (13.6%) 0.41 567
2018-12-01 $119,900 (27.2%) $151,128 (14.8%) 0.41 540
2019-01-01 $116,125 (29.8%) $147,294 (14.5%) 0.40 480
2019-02-01 $119,900 (38.6%) $149,555 (15.7%) 0.41 425
2019-03-01 $122,900 (41.1%) $157,765 (20.3%) 0.40 382
2019-04-01 $128,400 (29.8%) $164,605 (20.6%) 0.41 358
2019-05-01 $132,113 (23.0%) $173,453 (16.7%) 0.41 394
2019-06-01 $129,900 (15.5%) $165,738 (8.2%) 0.41 460
2019-07-01 $129,250 (10.4%) $172,181 (11.1%) 0.40 477
2019-08-01 $127,882 (11.3%) $170,431 (13.0%) 0.41 511
2019-09-01 $126,205 (5.3%) $165,642 (6.0%) 0.40 526
2019-10-01 $125,086 (1.6%) $162,502 (3.8%) 0.40 535
2019-11-01 $119,950 (-1.9%) $156,573 (1.9%) 0.39 522
2019-12-01 $119,900 (0.0%) $154,498 (2.2%) 0.40 459
2020-01-01 $116,749 (0.5%) $150,676 (2.3%) 0.39 403
2020-02-01 $107,700 (-10.2%) $145,034 (-3.0%) 0.35 368
2020-03-01 $109,400 (-11.0%) $152,429 (-3.4%) 0.34 306
2020-04-01 $119,900 (-6.6%) $156,642 (-4.8%) 0.38 290
2020-05-01 $124,900 (-5.5%) $166,473 (-4.0%) 0.38 262
2020-06-01 $130,425 (0.4%) $182,082 (9.9%) 0.38 212
2020-07-01 $129,650 (0.3%) $184,224 (7.0%) 0.38 204
2020-08-01 $139,900 (9.4%) $195,366 (14.6%) 0.40 215
2020-09-01 $131,650 (4.3%) $196,092 (18.4%) 0.38 249
2020-10-01 $130,900 (4.7%) $205,458 (26.4%) 0.38 262
2020-11-01 $132,400 (10.4%) $187,504 (19.8%) 0.39 240
2020-12-01 $124,400 (3.8%) $178,749 (15.7%) 0.37 211
2021-01-01 $102,400 (-12.3%) $171,314 (13.7%) 0.31 162
2021-02-01 $113,600 (5.5%) $188,343 (29.9%) 0.33 140
2021-03-01 $105,250 (-3.8%) $173,697 (14.0%) 0.30 125
2021-04-01 $112,300 (-6.3%) $187,637 (19.8%) 0.30 114
2021-05-01 $137,450 (10.1%) $214,484 (28.8%) 0.37 135
2021-06-01 $137,150 (5.2%) $202,650 (11.3%) 0.36 191
2021-07-01 $139,900 (7.9%) $196,172 (6.5%) 0.37 231
2021-08-01 $141,900 (1.4%) $193,145 (-1.1%) 0.38 282
2021-09-01 $117,500 (-10.8%) $174,610 (-11.0%) 0.31 298
2021-10-01 $119,900 (-8.4%) $181,138 (-11.8%) 0.32 303
2021-11-01 $122,400 (-7.6%) $179,884 (-4.1%) 0.33 312
2021-12-01 $114,800 (-7.7%) $177,845 (-0.5%) 0.31 281
2022-01-01 $99,900 (-2.4%) $170,594 (-0.4%) 0.27 220
2022-02-01 $105,325 (-7.3%) $181,830 (-3.5%) 0.27 194
2022-03-01 $116,200 (10.4%) $187,473 (7.9%) 0.29 182
2022-04-01 $146,400 (30.4%) $210,864 (12.4%) 0.35 166
2022-05-01 $145,925 (6.2%) $198,236 (-7.6%) 0.33 178
2022-06-01 $148,650 (8.4%) $207,046 (2.2%) 0.33 216
2022-07-01 $166,500 (19.0%) $227,832 (16.1%) 0.38 256
2022-08-01 $159,675 (12.5%) $216,297 (12.0%) 0.37 321
2022-09-01 $155,000 (31.9%) $206,203 (18.1%) 0.36 318
2022-10-01 $159,900 (33.4%) $207,741 (14.7%) 0.38 309
2022-11-01 $139,900 (14.3%) $198,285 (10.2%) 0.34 313
2022-12-01 $149,900 (30.6%) $202,487 (13.9%) 0.37 266
2023-01-01 $147,400 (47.6%) $201,289 (18.0%) 0.37 235
2023-02-01 $131,225 (24.6%) $202,041 (11.1%) 0.32 209
2023-03-01 $127,400 (9.6%) $207,008 (10.4%) 0.30 190
2023-04-01 $149,000 (1.8%) $219,364 (4.0%) 0.35 185
2023-05-01 $143,100 (-1.9%) $213,722 (7.8%) 0.32 196
2023-06-01 $139,675 (-6.0%) $219,176 (5.9%) 0.31 210
2023-07-01 $129,900 (-22.0%) $225,873 (-0.9%) 0.30 266
2023-08-01 $146,225 (-8.4%) $216,376 (0.0%) 0.34 315
2023-09-01 $149,900 (-3.3%) $214,330 (3.9%) 0.35 340
2023-10-01 $149,900 (-6.3%) $218,701 (5.3%) 0.35 334
2023-11-01 $152,450 (9.0%) $213,994 (7.9%) 0.36 375
2023-12-01 $159,900 (6.7%) $211,058 (4.2%) 0.39 347
Saginaw's median listing price for 2023-12-01 was $159,900, a difference of $10,000 (6.7%) versus the prior year and $7,450 versus the prior month.

Saginaw's median listing price comes in at 39% of the national average.

Saginaw's average listing price for 2023-12-01 was $211,058, a difference of $8,571 (4.2%) versus the prior year and $-2,936 versus the prior month.

For the 2023-12-01 period, Saginaw had 347 MLS listings, a difference of -28 listings (-7%) versus the prior month and 81 listings (30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Saginaw (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,453 sqft
2018-02-01 81 days 1,433 sqft
2018-03-01 68 days 1,449 sqft
2018-04-01 64 days 1,460 sqft
2018-05-01 49 days 1,482 sqft
2018-06-01 45 days 1,512 sqft
2018-07-01 48 days 1,539 sqft
2018-08-01 45 days 1,508 sqft
2018-09-01 51 days 1,466 sqft
2018-10-01 51 days 1,536 sqft
2018-11-01 59 days 1,532 sqft
2018-12-01 73 days 1,520 sqft
2019-01-01 80 days 1,479 sqft
2019-02-01 83 days 1,519 sqft
2019-03-01 72 days 1,521 sqft
2019-04-01 59 days 1,535 sqft
2019-05-01 40 days 1,530 sqft
2019-06-01 37 days 1,520 sqft
2019-07-01 44 days 1,575 sqft
2019-08-01 48 days 1,563 sqft
2019-09-01 50 days 1,545 sqft
2019-10-01 53 days 1,533 sqft
2019-11-01 58 days 1,520 sqft
2019-12-01 71 days 1,531 sqft
2020-01-01 78 days 1,508 sqft
2020-02-01 74 days 1,453 sqft
2020-03-01 61 days 1,472 sqft
2020-04-01 73 days 1,480 sqft
2020-05-01 74 days 1,456 sqft
2020-06-01 39 days 1,539 sqft
2020-07-01 32 days 1,547 sqft
2020-08-01 29 days 1,578 sqft
2020-09-01 26 days 1,561 sqft
2020-10-01 31 days 1,568 sqft
2020-11-01 37 days 1,521 sqft
2020-12-01 45 days 1,489 sqft
2021-01-01 47 days 1,422 sqft
2021-02-01 44 days 1,434 sqft
2021-03-01 37 days 1,390 sqft
2021-04-01 25 days 1,396 sqft
2021-05-01 17 days 1,486 sqft
2021-06-01 22 days 1,460 sqft
2021-07-01 24 days 1,422 sqft
2021-08-01 27 days 1,469 sqft
2021-09-01 35 days 1,403 sqft
2021-10-01 39 days 1,404 sqft
2021-11-01 46 days 1,385 sqft
2021-12-01 54 days 1,367 sqft
2022-01-01 66 days 1,317 sqft
2022-02-01 69 days 1,353 sqft
2022-03-01 40 days 1,364 sqft
2022-04-01 30 days 1,454 sqft
2022-05-01 24 days 1,419 sqft
2022-06-01 26 days 1,450 sqft
2022-07-01 30 days 1,522 sqft
2022-08-01 31 days 1,498 sqft
2022-09-01 42 days 1,456 sqft
2022-10-01 46 days 1,493 sqft
2022-11-01 45 days 1,473 sqft
2022-12-01 53 days 1,472 sqft
2023-01-01 54 days 1,494 sqft
2023-02-01 61 days 1,483 sqft
2023-03-01 58 days 1,462 sqft
2023-04-01 54 days 1,552 sqft
2023-05-01 35 days 1,540 sqft
2023-06-01 32 days 1,541 sqft
2023-07-01 29 days 1,423 sqft
2023-08-01 31 days 1,427 sqft
2023-09-01 40 days 1,430 sqft
2023-10-01 46 days 1,430 sqft
2023-11-01 45 days 1,451 sqft
2023-12-01 57 days 1,443 sqft
Saginaw's median listing age (time on market) for 2023-12-01 was 57 days. This is 8% longer than the same period one year ago.

Saginaw's median square footage for active listings during the 2023-12-01 period was 1,443 sqft. One year prior, the average listing was 1,472 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.