Traverse City VA Loan Rates, Closing Costs & Stats
Traverse City, 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.
Traverse City's 34 lenders originated 136 VA loans during 2023. The total origination value was $45,100,000, with an average VA loan value of $331,618.
Traverse City VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Traverse City
averaged
6.16%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Traverse City's average VA mortgage closing costs are $5,824.
The average rate for the prior week (2024-10-04) was
6.23% and
one month ago for the week of 2024-09-06, the
average rate was 6.02%.
The average rate one year ago was 7.48%.
For refis of the same type during the week of 2024-10-11, the average rate
was 7.11%.
Traverse City 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 Traverse City level.
The top Traverse City VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
24 VA loans originated. Their average total fees are
$8,269, which is $276
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Traverse City VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($7,994), UNITED WHOLESALE MORTGAGE, LLC ($8,269), QUICKEN LOANS, LLC ($8,737), .
The lowest rate Traverse City VA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.15%), QUICKEN LOANS, LLC (6.47%), Mortgage Research Center, LLC (6.56%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Traverse City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $327,650 (6.7%) | $460,418 (4.0%) | 1.21 | 1,136 |
2018-02-01 | $325,000 (6.8%) | $461,184 (6.5%) | 1.18 | 1,108 |
2018-03-01 | $324,950 (8.3%) | $457,845 (6.0%) | 1.14 | 1,155 |
2018-04-01 | $325,000 (8.4%) | $464,115 (10.2%) | 1.10 | 1,228 |
2018-05-01 | $329,250 (10.0%) | $468,541 (10.4%) | 1.10 | 1,367 |
2018-06-01 | $325,000 (8.1%) | $461,995 (7.0%) | 1.08 | 1,582 |
2018-07-01 | $318,750 (-0.1%) | $450,046 (0.7%) | 1.06 | 1,745 |
2018-08-01 | $315,000 (-1.6%) | $448,761 (-1.8%) | 1.06 | 1,772 |
2018-09-01 | $309,250 (-3.1%) | $447,667 (-1.1%) | 1.04 | 1,742 |
2018-10-01 | $301,225 (-6.5%) | $447,610 (-2.1%) | 1.02 | 1,680 |
2018-11-01 | $309,500 (-5.3%) | $454,225 (-2.6%) | 1.05 | 1,582 |
2018-12-01 | $310,500 (-5.6%) | $466,265 (-1.0%) | 1.07 | 1,374 |
2019-01-01 | $309,892 (-5.4%) | $466,426 (1.3%) | 1.07 | 1,248 |
2019-02-01 | $305,350 (-6.1%) | $463,499 (0.5%) | 1.03 | 1,211 |
2019-03-01 | $318,314 (-2.0%) | $468,494 (2.3%) | 1.04 | 1,211 |
2019-04-01 | $324,950 (0.0%) | $470,011 (1.3%) | 1.03 | 1,227 |
2019-05-01 | $329,000 (-0.1%) | $473,545 (1.1%) | 1.03 | 1,345 |
2019-06-01 | $329,900 (1.5%) | $479,102 (3.7%) | 1.03 | 1,530 |
2019-07-01 | $330,000 (3.5%) | $483,432 (7.4%) | 1.03 | 1,606 |
2019-08-01 | $329,155 (4.5%) | $481,978 (7.4%) | 1.04 | 1,595 |
2019-09-01 | $327,886 (6.0%) | $477,557 (6.7%) | 1.05 | 1,564 |
2019-10-01 | $338,541 (12.4%) | $487,750 (9.0%) | 1.09 | 1,350 |
2019-11-01 | $349,000 (12.8%) | $502,983 (10.7%) | 1.14 | 1,075 |
2019-12-01 | $349,450 (12.5%) | $510,393 (9.5%) | 1.17 | 970 |
2020-01-01 | $349,000 (12.6%) | $513,515 (10.1%) | 1.17 | 872 |
2020-02-01 | $369,000 (20.8%) | $536,054 (15.7%) | 1.21 | 786 |
2020-03-01 | $379,900 (19.4%) | $541,905 (15.7%) | 1.19 | 775 |
2020-04-01 | $387,400 (19.2%) | $542,869 (15.5%) | 1.21 | 799 |
2020-05-01 | $395,000 (20.1%) | $560,489 (18.4%) | 1.20 | 856 |
2020-06-01 | $399,450 (21.1%) | $576,902 (20.4%) | 1.18 | 877 |
2020-07-01 | $389,450 (18.0%) | $594,494 (23.0%) | 1.13 | 766 |
2020-08-01 | $385,000 (17.0%) | $595,020 (23.5%) | 1.10 | 712 |
2020-09-01 | $379,800 (15.8%) | $593,811 (24.3%) | 1.09 | 611 |
2020-10-01 | $379,900 (12.2%) | $622,348 (27.6%) | 1.09 | 544 |
2020-11-01 | $388,500 (11.3%) | $646,632 (28.6%) | 1.14 | 464 |
2020-12-01 | $379,200 (8.5%) | $638,267 (25.1%) | 1.13 | 421 |
2021-01-01 | $389,000 (11.5%) | $592,696 (15.4%) | 1.16 | 342 |
2021-02-01 | $410,000 (11.1%) | $633,807 (18.2%) | 1.19 | 274 |
2021-03-01 | $424,400 (11.7%) | $700,259 (29.2%) | 1.20 | 270 |
2021-04-01 | $427,100 (10.3%) | $715,891 (31.9%) | 1.16 | 260 |
2021-05-01 | $449,000 (13.7%) | $717,080 (27.9%) | 1.19 | 317 |
2021-06-01 | $475,000 (18.9%) | $749,391 (29.9%) | 1.25 | 354 |
2021-07-01 | $450,000 (15.6%) | $739,264 (24.4%) | 1.19 | 372 |
2021-08-01 | $455,000 (18.2%) | $732,227 (23.1%) | 1.21 | 388 |
2021-09-01 | $450,000 (18.5%) | $740,610 (24.7%) | 1.20 | 376 |
2021-10-01 | $434,900 (14.5%) | $742,207 (19.3%) | 1.16 | 355 |
2021-11-01 | $424,900 (9.4%) | $762,077 (17.9%) | 1.14 | 312 |
2021-12-01 | $429,900 (13.4%) | $773,135 (21.1%) | 1.16 | 261 |
2022-01-01 | $450,000 (15.7%) | $793,090 (33.8%) | 1.22 | 237 |
2022-02-01 | $453,450 (10.6%) | $811,637 (28.1%) | 1.18 | 204 |
2022-03-01 | $492,500 (16.1%) | $844,214 (20.6%) | 1.23 | 206 |
2022-04-01 | $485,000 (13.6%) | $862,664 (20.5%) | 1.16 | 214 |
2022-05-01 | $499,000 (11.1%) | $857,224 (19.5%) | 1.14 | 298 |
2022-06-01 | $499,500 (5.2%) | $860,393 (14.8%) | 1.11 | 389 |
2022-07-01 | $534,950 (18.9%) | $813,042 (10.0%) | 1.21 | 507 |
2022-08-01 | $520,000 (14.3%) | $790,376 (7.9%) | 1.20 | 529 |
2022-09-01 | $506,750 (12.6%) | $780,532 (5.4%) | 1.18 | 483 |
2022-10-01 | $499,950 (15.0%) | $764,063 (2.9%) | 1.18 | 472 |
2022-11-01 | $481,050 (13.2%) | $748,948 (-1.7%) | 1.16 | 430 |
2022-12-01 | $479,900 (11.6%) | $763,714 (-1.2%) | 1.18 | 361 |
2023-01-01 | $464,950 (3.3%) | $773,499 (-2.5%) | 1.15 | 286 |
2023-02-01 | $485,975 (7.2%) | $786,699 (-3.1%) | 1.17 | 293 |
2023-03-01 | $486,475 (-1.2%) | $794,078 (-5.9%) | 1.15 | 293 |
2023-04-01 | $499,000 (2.9%) | $809,578 (-6.2%) | 1.16 | 315 |
2023-05-01 | $534,000 (7.0%) | $827,017 (-3.5%) | 1.21 | 367 |
2023-06-01 | $524,500 (5.0%) | $811,622 (-5.7%) | 1.18 | 451 |
2023-07-01 | $497,500 (-7.0%) | $772,506 (-5.0%) | 1.13 | 508 |
2023-08-01 | $495,000 (-4.8%) | $757,657 (-4.1%) | 1.14 | 514 |
2023-09-01 | $499,000 (-1.5%) | $755,802 (-3.2%) | 1.16 | 556 |
2023-10-01 | $499,000 (-0.2%) | $747,081 (-2.2%) | 1.17 | 565 |
2023-11-01 | $477,250 (-0.8%) | $722,174 (-3.6%) | 1.14 | 559 |
2023-12-01 | $485,000 (1.1%) | $724,312 (-5.2%) | 1.18 | 469 |
2024-01-01 | $459,188 (-1.2%) | $675,119 (-12.7%) | 1.12 | 390 |
2024-02-01 | $459,375 (-5.5%) | $694,065 (-11.8%) | 1.11 | 391 |
2024-03-01 | $480,000 (-1.3%) | $700,635 (-11.8%) | 1.13 | 428 |
2024-04-01 | $464,950 (-6.8%) | $723,188 (-10.7%) | 1.08 | 489 |
2024-05-01 | $481,200 (-9.9%) | $751,047 (-9.2%) | 1.09 | 566 |
2024-06-01 | $495,000 (-5.6%) | $812,967 (0.2%) | 1.11 | 646 |
2024-07-01 | $479,900 (-3.5%) | $780,695 (1.1%) | 1.10 | 735 |
2024-08-01 | $475,000 (-4.0%) | $761,650 (0.5%) | 1.10 | 769 |
2024-09-01 | $479,450 (-3.9%) | $766,049 (1.4%) | 1.13 | 791 |
Traverse City's median listing price comes in at 113% of the national average.
Traverse City's average listing price for 2024-09-01 was $766,049, a difference of $10,247 (1.4%) versus the prior year and $4,399 versus the prior month.
For the 2024-09-01 period, Traverse City had 791 MLS listings, a difference of 22 listings (3%) versus the prior month and 235 listings (42%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Traverse City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 121 days | 1,703 sqft |
2018-02-01 | 122 days | 1,700 sqft |
2018-03-01 | 127 days | 1,719 sqft |
2018-04-01 | 84 days | 1,718 sqft |
2018-05-01 | 55 days | 1,750 sqft |
2018-06-01 | 48 days | 1,778 sqft |
2018-07-01 | 56 days | 1,771 sqft |
2018-08-01 | 66 days | 1,793 sqft |
2018-09-01 | 75 days | 1,800 sqft |
2018-10-01 | 80 days | 1,739 sqft |
2018-11-01 | 85 days | 1,717 sqft |
2018-12-01 | 100 days | 1,725 sqft |
2019-01-01 | 111 days | 1,681 sqft |
2019-02-01 | 117 days | 1,638 sqft |
2019-03-01 | 101 days | 1,631 sqft |
2019-04-01 | 76 days | 1,641 sqft |
2019-05-01 | 50 days | 1,660 sqft |
2019-06-01 | 46 days | 1,700 sqft |
2019-07-01 | 54 days | 1,709 sqft |
2019-08-01 | 60 days | 1,713 sqft |
2019-09-01 | 67 days | 1,719 sqft |
2019-10-01 | 76 days | 1,732 sqft |
2019-11-01 | 89 days | 1,722 sqft |
2019-12-01 | 101 days | 1,692 sqft |
2020-01-01 | 114 days | 1,651 sqft |
2020-02-01 | 106 days | 1,628 sqft |
2020-03-01 | 78 days | 1,618 sqft |
2020-04-01 | 83 days | 1,652 sqft |
2020-05-01 | 81 days | 1,732 sqft |
2020-06-01 | 72 days | 1,781 sqft |
2020-07-01 | 60 days | 1,967 sqft |
2020-08-01 | 68 days | 1,888 sqft |
2020-09-01 | 73 days | 1,827 sqft |
2020-10-01 | 64 days | 1,792 sqft |
2020-11-01 | 67 days | 1,665 sqft |
2020-12-01 | 77 days | 1,604 sqft |
2021-01-01 | 80 days | 1,608 sqft |
2021-02-01 | 79 days | 1,584 sqft |
2021-03-01 | 49 days | 1,625 sqft |
2021-04-01 | 44 days | 1,660 sqft |
2021-05-01 | 37 days | 1,708 sqft |
2021-06-01 | 38 days | 1,823 sqft |
2021-07-01 | 40 days | 1,794 sqft |
2021-08-01 | 40 days | 1,758 sqft |
2021-09-01 | 42 days | 1,771 sqft |
2021-10-01 | 54 days | 1,753 sqft |
2021-11-01 | 58 days | 1,744 sqft |
2021-12-01 | 66 days | 1,622 sqft |
2022-01-01 | 68 days | 1,545 sqft |
2022-02-01 | 72 days | 1,510 sqft |
2022-03-01 | 64 days | 1,515 sqft |
2022-04-01 | 44 days | 1,531 sqft |
2022-05-01 | 30 days | 1,672 sqft |
2022-06-01 | 31 days | 1,806 sqft |
2022-07-01 | 33 days | 1,800 sqft |
2022-08-01 | 47 days | 1,770 sqft |
2022-09-01 | 58 days | 1,741 sqft |
2022-10-01 | 61 days | 1,700 sqft |
2022-11-01 | 70 days | 1,648 sqft |
2022-12-01 | 87 days | 1,603 sqft |
2023-01-01 | 81 days | 1,628 sqft |
2023-02-01 | 60 days | 1,567 sqft |
2023-03-01 | 56 days | 1,567 sqft |
2023-04-01 | 52 days | 1,632 sqft |
2023-05-01 | 42 days | 1,684 sqft |
2023-06-01 | 38 days | 1,763 sqft |
2023-07-01 | 40 days | 1,766 sqft |
2023-08-01 | 51 days | 1,716 sqft |
2023-09-01 | 48 days | 1,708 sqft |
2023-10-01 | 51 days | 1,719 sqft |
2023-11-01 | 59 days | 1,610 sqft |
2023-12-01 | 80 days | 1,585 sqft |
2024-01-01 | 82 days | 1,528 sqft |
2024-02-01 | 67 days | 1,526 sqft |
2024-03-01 | 47 days | 1,550 sqft |
2024-04-01 | 44 days | 1,539 sqft |
2024-05-01 | 43 days | 1,550 sqft |
2024-06-01 | 44 days | 1,573 sqft |
2024-07-01 | 45 days | 1,626 sqft |
2024-08-01 | 53 days | 1,609 sqft |
2024-09-01 | 59 days | 1,594 sqft |
Traverse City's median square footage for active listings during the 2024-09-01 period was 1,594 sqft. One year prior, the average listing was 1,708 sqft.