Sturgis VA Loan Rates, Closing Costs & Stats

Sturgis, 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.

Sturgis's 23 lenders originated 58 VA loans during 2022. The total origination value was $11,630,000, with an average VA loan value of $200,517.

Sturgis VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Sturgis averaged 6.64% for the week of 2024-03-15, compared to the national average (all VA variants) of 6.439% for the same period.

Sturgis's average VA mortgage closing costs are $4,603.

The average rate for the prior week (2024-03-08) was 6.55% and one month ago for the week of 2024-02-09, the average rate was 6.12%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-03-15, the average rate was 6.24%.

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

Sturgis 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 Sturgis level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 11 5.09% $4,366
QUICKEN LOANS, LLC 9 4.22% $10,335
RUOFF MORTGAGE COMPANY, INC. 8 5.48% $4,380
UNITED WHOLESALE MORTGAGE, LLC 4 4.25% $7,425
USAA Federal Savings Bank 3 3.67% $4,787
AMERIFIRST FINANCIAL CORPORATION 3 4.54% $9,078
Equity Prime Mortgage LLC 1 7.63% $6,225
First Guaranty Mortgage Corporation 1 4.13% $1,845
FREEDOM MORTGAGE CORPORATION 1 7.00% $23,737
LOANDEPOT.COM, LLC 1 6.25% $11,953
Magnolia Bank 1 3.75% $7,861
MEMBER FIRST MORTGAGE, LLC 1 2.75% $9,660
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $7,016
Nations Lending Corporation 1 7.63% $625
NAVY FEDERAL CREDIT UNION 1 4.50% $1,821
NEW DAY FINANCIAL, LLC 1 3.38% $12,005
Northpointe Bank 1 3.75% $3,550
Wells Fargo Bank 1 3.50% $4,438
AMERISAVE MORTGAGE CORPORATION 1 5.25% $8,460
Barrington Bank & Trust Company, N.A. 1 4.00% $5,533
Carrington Mortgage Services, LLC 1 6.13% $4,418
CHURCHILL MORTGAGE CORPORATION 1 5.25% $4,491
CROSSCOUNTRY MORTGAGE, LLC 1 2.49% $19,394

The top Sturgis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $4,366, which is $5,969 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Sturgis VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,366), .

The lowest rate Sturgis VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (5.09%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sturgis (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 $161,200 (15.2%) $205,540 (6.3%) 0.00 157
2018-02-01 $166,675 (19.1%) $212,100 (11.3%) 0.00 149
2018-03-01 $169,900 (7.2%) $216,607 (0.4%) 0.00 144
2018-04-01 $181,425 (9.3%) $230,524 (7.7%) 0.00 146
2018-05-01 $202,450 (23.8%) $236,456 (12.1%) 0.00 156
2018-06-01 $199,900 (21.0%) $238,874 (12.1%) 0.00 158
2018-07-01 $184,975 (12.1%) $243,687 (14.1%) 0.00 184
2018-08-01 $173,000 (8.2%) $238,035 (13.3%) 0.00 197
2018-09-01 $167,950 (3.7%) $235,066 (10.8%) 0.00 194
2018-10-01 $167,400 (3.4%) $238,953 (12.9%) 0.00 181
2018-11-01 $173,675 (8.6%) $234,879 (9.8%) 0.00 179
2018-12-01 $159,900 (-3.0%) $226,745 (5.6%) 0.00 174
2019-01-01 $168,950 (4.8%) $233,003 (13.4%) 0.00 156
2019-02-01 $178,650 (7.2%) $247,638 (16.8%) 0.00 140
2019-03-01 $189,729 (11.7%) $271,752 (25.5%) 0.00 140
2019-04-01 $192,904 (6.3%) $276,797 (20.1%) 0.00 149
2019-05-01 $213,725 (5.6%) $292,083 (23.5%) 0.00 155
2019-06-01 $213,500 (6.8%) $284,092 (18.9%) 0.00 163
2019-07-01 $193,225 (4.5%) $267,110 (9.6%) 0.00 188
2019-08-01 $188,873 (9.2%) $265,822 (11.7%) 0.00 200
2019-09-01 $185,007 (10.2%) $262,666 (11.7%) 0.00 216
2019-10-01 $180,950 (8.1%) $258,573 (8.2%) 0.00 227
2019-11-01 $179,900 (3.6%) $242,109 (3.1%) 0.00 206
2019-12-01 $163,825 (2.5%) $231,212 (2.0%) 0.00 198
2020-01-01 $177,450 (5.0%) $236,874 (1.7%) 0.00 186
2020-02-01 $181,950 (1.9%) $246,263 (-0.6%) 0.00 186
2020-03-01 $183,425 (-3.3%) $259,045 (-4.7%) 0.00 167
2020-04-01 $189,400 (-1.8%) $268,313 (-3.1%) 0.00 157
2020-05-01 $197,250 (-7.7%) $286,762 (-1.8%) 0.00 148
2020-06-01 $222,350 (4.2%) $305,475 (7.5%) 0.00 133
2020-07-01 $212,273 (9.9%) $313,943 (17.5%) 0.00 125
2020-08-01 $219,950 (16.5%) $316,475 (19.1%) 0.00 102
2020-09-01 $193,444 (4.6%) $301,610 (14.8%) 0.00 81
2020-10-01 $169,950 (-6.1%) $289,563 (12.0%) 0.00 88
2020-11-01 $180,975 (0.6%) $306,961 (26.8%) 0.00 82
2020-12-01 $156,800 (-4.3%) $302,197 (30.7%) 0.00 82
2021-01-01 $149,950 (-15.5%) $309,138 (30.5%) 0.00 61
2021-02-01 $169,150 (-7.0%) $314,921 (27.9%) 0.00 44
2021-03-01 $162,150 (-11.6%) $372,944 (44.0%) 0.00 42
2021-04-01 $197,400 (4.2%) $414,570 (54.5%) 0.00 34
2021-05-01 $225,000 (14.1%) $419,214 (46.2%) 0.00 38
2021-06-01 $232,500 (4.6%) $383,613 (25.6%) 0.00 58
2021-07-01 $231,950 (9.3%) $354,345 (12.9%) 0.00 65
2021-08-01 $225,000 (2.3%) $346,263 (9.4%) 0.00 74
2021-09-01 $222,450 (15.0%) $347,732 (15.3%) 0.00 86
2021-10-01 $225,000 (32.4%) $387,132 (33.7%) 0.00 77
2021-11-01 $186,250 (2.9%) $320,273 (4.3%) 0.00 72
2021-12-01 $181,950 (16.0%) $317,323 (5.0%) 0.00 64
2022-01-01 $175,900 (17.3%) $322,176 (4.2%) 0.00 62
2022-02-01 $174,950 (3.4%) $287,517 (-8.7%) 0.00 69
2022-03-01 $175,158 (8.0%) $306,692 (-17.8%) 0.00 56
2022-04-01 $239,900 (21.5%) $354,518 (-14.5%) 0.00 51
2022-05-01 $256,200 (13.9%) $340,282 (-18.8%) 0.00 65
2022-06-01 $267,200 (14.9%) $381,475 (-0.6%) 0.00 83
2022-07-01 $247,500 (6.7%) $319,078 (-10.0%) 0.00 95
2022-08-01 $213,725 (-5.0%) $292,578 (-15.5%) 0.00 103
2022-09-01 $239,450 (7.6%) $302,600 (-13.0%) 0.00 98
2022-10-01 $229,900 (2.2%) $297,162 (-23.2%) 0.00 92
2022-11-01 $210,000 (12.8%) $268,350 (-16.2%) 0.00 95
2022-12-01 $199,900 (9.9%) $258,989 (-18.4%) 0.00 94
2023-01-01 $204,950 (16.5%) $253,517 (-21.3%) 0.00 84
2023-02-01 $210,500 (20.3%) $275,279 (-4.3%) 0.00 65
2023-03-01 $211,400 (20.7%) $311,829 (1.7%) 0.00 42
2023-04-01 $249,900 (4.2%) $310,953 (-12.3%) 0.00 49
2023-05-01 $247,475 (-3.4%) $292,771 (-14.0%) 0.00 59
2023-06-01 $269,225 (0.8%) $341,760 (-10.4%) 0.00 67
2023-07-01 $254,900 (3.0%) $343,952 (7.8%) 0.00 75
2023-08-01 $254,900 (19.3%) $340,703 (16.5%) 0.00 85
2023-09-01 $249,950 (4.4%) $343,936 (13.7%) 0.00 80
2023-10-01 $233,650 (1.6%) $338,395 (13.9%) 0.00 89
2023-11-01 $220,225 (4.9%) $317,808 (18.4%) 0.00 82
2023-12-01 $229,900 (15.0%) $345,686 (33.5%) 0.00 77
2024-01-01 $217,250 (6.0%) $323,614 (27.7%) 0.00 76
Sturgis's median listing price for 2024-01-01 was $217,250, a difference of $12,300 (6.0%) versus the prior year and $-12,650 versus the prior month.

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

Sturgis's average listing price for 2024-01-01 was $323,614, a difference of $70,097 (27.7%) versus the prior year and $-22,072 versus the prior month.

For the 2024-01-01 period, Sturgis had 76 MLS listings, a difference of -1 listings (-1%) versus the prior month and -8 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sturgis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,754 sqft
2018-02-01 0 days 1,734 sqft
2018-03-01 0 days 1,741 sqft
2018-04-01 0 days 1,783 sqft
2018-05-01 0 days 1,804 sqft
2018-06-01 0 days 1,775 sqft
2018-07-01 0 days 1,789 sqft
2018-08-01 0 days 1,733 sqft
2018-09-01 0 days 1,877 sqft
2018-10-01 0 days 1,880 sqft
2018-11-01 0 days 1,935 sqft
2018-12-01 0 days 1,850 sqft
2019-01-01 0 days 1,946 sqft
2019-02-01 0 days 1,935 sqft
2019-03-01 0 days 1,894 sqft
2019-04-01 0 days 1,836 sqft
2019-05-01 0 days 1,879 sqft
2019-06-01 0 days 1,840 sqft
2019-07-01 0 days 1,767 sqft
2019-08-01 0 days 1,829 sqft
2019-09-01 0 days 1,818 sqft
2019-10-01 0 days 1,805 sqft
2019-11-01 0 days 1,800 sqft
2019-12-01 0 days 1,710 sqft
2020-01-01 0 days 1,766 sqft
2020-02-01 0 days 1,741 sqft
2020-03-01 0 days 1,783 sqft
2020-04-01 0 days 1,770 sqft
2020-05-01 0 days 1,801 sqft
2020-06-01 0 days 1,893 sqft
2020-07-01 0 days 1,849 sqft
2020-08-01 0 days 1,931 sqft
2020-09-01 0 days 1,756 sqft
2020-10-01 0 days 1,720 sqft
2020-11-01 0 days 1,708 sqft
2020-12-01 0 days 1,624 sqft
2021-01-01 0 days 1,654 sqft
2021-02-01 0 days 1,669 sqft
2021-03-01 0 days 1,628 sqft
2021-04-01 0 days 1,664 sqft
2021-05-01 0 days 1,844 sqft
2021-06-01 0 days 1,922 sqft
2021-07-01 0 days 1,890 sqft
2021-08-01 0 days 1,977 sqft
2021-09-01 0 days 1,799 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,741 sqft
2021-12-01 0 days 1,701 sqft
2022-01-01 0 days 1,700 sqft
2022-02-01 0 days 1,737 sqft
2022-03-01 0 days 1,675 sqft
2022-04-01 0 days 1,816 sqft
2022-05-01 0 days 1,822 sqft
2022-06-01 0 days 1,802 sqft
2022-07-01 0 days 1,783 sqft
2022-08-01 0 days 1,769 sqft
2022-09-01 0 days 1,731 sqft
2022-10-01 0 days 1,833 sqft
2022-11-01 0 days 1,802 sqft
2022-12-01 0 days 1,730 sqft
2023-01-01 0 days 1,786 sqft
2023-02-01 0 days 1,800 sqft
2023-03-01 0 days 1,755 sqft
2023-04-01 0 days 1,800 sqft
2023-05-01 0 days 1,703 sqft
2023-06-01 0 days 1,867 sqft
2023-07-01 0 days 1,830 sqft
2023-08-01 0 days 1,785 sqft
2023-09-01 0 days 1,826 sqft
2023-10-01 0 days 1,628 sqft
2023-11-01 0 days 1,619 sqft
2023-12-01 0 days 1,700 sqft
2024-01-01 0 days 1,655 sqft
Sturgis's median listing age (time on market) for 2024-01-01 was 0 days.

Sturgis's median square footage for active listings during the 2024-01-01 period was 1,655 sqft. One year prior, the average listing was 1,786 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.