Wausau VA Loan Rates, Closing Costs & Stats

WAUSAU-WESTON, WI

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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.

    Wausau's 33 lenders originated 112 VA loans during 2023. The total origination value was $29,660,000, with an average VA loan value of $264,821.

    Wausau VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Wausau averaged 6.79% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Wausau's average VA mortgage closing costs are $4,656.

    The average rate for the prior week (2024-11-01) was 6.34% and one month ago for the week of 2024-10-04, the average rate was 5.67%.

    The average rate one year ago was 7.73%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.41%.

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

    Wausau 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 Wausau level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 39 7.05% $6,341
    QUICKEN LOANS, LLC 9 6.37% $7,205
    GUILD MORTGAGE COMPANY 6 6.35% $7,531
    PENNYMAC LOAN SERVICES, LLC 5 5.95% $7,219
    FREEDOM MORTGAGE CORPORATION 4 6.25% $10,232
    NAVY FEDERAL CREDIT UNION 4 6.31% $5,066
    Ixonia Bank 4 7.25% $15,496
    U.S. Bank 4 6.03% $4,776
    NEW DAY FINANCIAL, LLC 3 7.13% $14,451
    CROSSCOUNTRY MORTGAGE, LLC 3 6.75% $9,046
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.21% $4,772
    LOANDEPOT.COM, LLC 2 5.62% $15,090
    UNITED WHOLESALE MORTGAGE, LLC 2 6.07% $14,565
    Mr. Cooper ( Nationstar Mortgage ) 2 5.88% $10,603
    Prosperity Home Mortgage, LLC 1 5.50% $14,863
    Servion, Inc. 1 6.75% $6,552
    The Federal Savings Bank 1 7.50% $6,914
    TOWNE MORTGAGE COMPANY 1 7.13% $6,345
    AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $14,206
    Wells Fargo Bank 1 5.88% $1,212
    Associated Bank 1 6.00% $7,084
    Bank of England 1 6.75% $17,032
    Barrington Bank & Trust Company, N.A. 1 6.75% $3,972
    CALIBER HOME LOANS, INC. 1 6.75% $6,970
    Cambria Financial Group, LLC 1 7.13% $5,207
    CARDINAL FINANCIAL 1 6.00% $12,632
    Equity Prime Mortgage LLC 1 7.38% $9,231
    First Federal Bank 1 6.13% $1,629
    LAND HOME FINANCIAL SERVICES, INC. 1 7.63% $5,077
    MOVEMENT MORTGAGE, LLC 1 7.75% $8,512
    Nations Lending Corporation 1 7.00% $1,849
    NEWREZ LLC 1 5.63% $11,940
    Paramount Residential Mortgage Group, Inc. 1 6.75% $23,172

    The top Wausau VA lender as defined by loan originations is Mortgage Research Center, LLC, with 39 VA loans originated. Their average total fees are $6,341, which is $864 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Wausau VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,341), .

    The lowest rate Wausau VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.05%), .

    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.