Alexandria VA Loan Rates, Closing Costs & Stats
Alexandria, MN
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.
Alexandria's 14 lenders originated 28 VA loans during 2023. The total origination value was $8,960,000, with an average VA loan value of $320,000.
Alexandria VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Alexandria
averaged
7.07%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Alexandria's average VA mortgage closing costs are $5,942.
The average rate for the prior week (2024-04-12) was
6.9% and
one month ago for the week of 2024-03-15, the
average rate was 6.66%.
The average rate one year ago was 6.45%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.56%.
Alexandria 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 Alexandria level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 6 | 6.85% | $6,483 |
| QUICKEN LOANS, LLC | 3 | 5.91% | $9,571 |
| Paramount Residential Mortgage Group, Inc. | 2 | 7.00% | $8,793 |
| USAA Federal Savings Bank | 2 | 6.50% | $6,657 |
| LOANDEPOT.COM, LLC | 2 | 6.37% | $9,549 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 7.25% | $4,768 |
| SUMMIT FUNDING, INC. | 1 | 5.75% | $31,061 |
| The Federal Savings Bank | 1 | 5.75% | $18,353 |
| Bell Bank | 1 | 5.75% | $8,790 |
| VILLAGE CAPITAL MORTGAGE | 1 | 7.25% | $19,907 |
| Bremer Bank | 1 | 6.50% | $7,472 |
| CARDINAL FINANCIAL | 1 | 7.75% | $12,439 |
| NAVY FEDERAL CREDIT UNION | 1 | 7.13% | $8,528 |
| NEWREZ LLC | 1 | 6.75% | $17,387 |
The top Alexandria VA lender as defined by loan originations is Mortgage Research Center, LLC, with
6 VA loans originated. Their average total fees are
$6,483, which is $3,088
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Alexandria VA lenders (with over 10 loans originated) are
.
The lowest rate Alexandria VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Alexandria (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 | $249,900 (8.8%) | $288,883 (4.2%) | 0.00 | 194 |
| 2018-02-01 | $249,900 (6.1%) | $292,205 (2.9%) | 0.00 | 199 |
| 2018-03-01 | $257,000 (4.4%) | $308,598 (4.3%) | 0.00 | 207 |
| 2018-04-01 | $265,950 (3.1%) | $312,167 (2.8%) | 0.00 | 232 |
| 2018-05-01 | $272,675 (9.1%) | $327,935 (8.7%) | 0.00 | 272 |
| 2018-06-01 | $269,900 (8.0%) | $327,272 (8.2%) | 0.00 | 300 |
| 2018-07-01 | $263,025 (3.2%) | $320,400 (0.5%) | 0.00 | 313 |
| 2018-08-01 | $266,750 (2.6%) | $319,738 (-1.3%) | 0.00 | 330 |
| 2018-09-01 | $264,950 (2.1%) | $315,160 (-3.0%) | 0.00 | 346 |
| 2018-10-01 | $273,950 (9.6%) | $315,930 (4.1%) | 0.00 | 297 |
| 2018-11-01 | $277,500 (11.0%) | $316,317 (4.4%) | 0.00 | 249 |
| 2018-12-01 | $279,900 (12.0%) | $329,281 (11.9%) | 0.00 | 202 |
| 2019-01-01 | $279,375 (11.8%) | $315,816 (9.3%) | 0.00 | 177 |
| 2019-02-01 | $277,000 (10.8%) | $315,105 (7.8%) | 0.00 | 171 |
| 2019-03-01 | $284,186 (10.6%) | $323,421 (4.8%) | 0.00 | 187 |
| 2019-04-01 | $289,900 (9.0%) | $333,288 (6.8%) | 0.00 | 216 |
| 2019-05-01 | $284,900 (4.5%) | $321,555 (-2.0%) | 0.00 | 255 |
| 2019-06-01 | $274,900 (1.9%) | $318,104 (-2.8%) | 0.00 | 265 |
| 2019-07-01 | $271,350 (3.2%) | $312,958 (-2.3%) | 0.00 | 261 |
| 2019-08-01 | $276,973 (3.8%) | $317,308 (-0.8%) | 0.00 | 260 |
| 2019-09-01 | $281,432 (6.2%) | $321,156 (1.9%) | 0.00 | 251 |
| 2019-10-01 | $285,200 (4.1%) | $324,090 (2.6%) | 0.00 | 243 |
| 2019-11-01 | $294,950 (6.3%) | $330,863 (4.6%) | 0.00 | 213 |
| 2019-12-01 | $288,925 (3.2%) | $327,795 (-0.5%) | 0.00 | 189 |
| 2020-01-01 | $288,900 (3.4%) | $317,282 (0.5%) | 0.00 | 148 |
| 2020-02-01 | $293,450 (5.9%) | $325,169 (3.2%) | 0.00 | 144 |
| 2020-03-01 | $299,900 (5.5%) | $333,156 (3.0%) | 0.00 | 156 |
| 2020-04-01 | $304,950 (5.2%) | $340,394 (2.1%) | 0.00 | 173 |
| 2020-05-01 | $309,000 (8.5%) | $349,361 (8.7%) | 0.00 | 193 |
| 2020-06-01 | $304,425 (10.7%) | $346,123 (8.8%) | 0.00 | 184 |
| 2020-07-01 | $315,900 (16.4%) | $342,704 (9.5%) | 0.00 | 169 |
| 2020-08-01 | $319,950 (15.5%) | $353,085 (11.3%) | 0.00 | 168 |
| 2020-09-01 | $317,950 (13.0%) | $354,701 (10.5%) | 0.00 | 154 |
| 2020-10-01 | $315,000 (10.5%) | $367,161 (13.3%) | 0.00 | 139 |
| 2020-11-01 | $299,900 (1.7%) | $347,459 (5.0%) | 0.00 | 101 |
| 2020-12-01 | $299,900 (3.8%) | $366,938 (11.9%) | 0.00 | 78 |
| 2021-01-01 | $299,900 (3.8%) | $355,964 (12.2%) | 0.00 | 59 |
| 2021-02-01 | $288,950 (-1.5%) | $351,978 (8.2%) | 0.00 | 62 |
| 2021-03-01 | $292,175 (-2.6%) | $353,984 (6.3%) | 0.00 | 49 |
| 2021-04-01 | $293,700 (-3.7%) | $388,930 (14.3%) | 0.00 | 54 |
| 2021-05-01 | $299,900 (-2.9%) | $373,931 (7.0%) | 0.00 | 64 |
| 2021-06-01 | $303,225 (-0.4%) | $368,559 (6.5%) | 0.00 | 85 |
| 2021-07-01 | $298,000 (-5.7%) | $368,592 (7.6%) | 0.00 | 90 |
| 2021-08-01 | $303,725 (-5.1%) | $373,224 (5.7%) | 0.00 | 104 |
| 2021-09-01 | $314,250 (-1.2%) | $364,135 (2.7%) | 0.00 | 109 |
| 2021-10-01 | $299,950 (-4.8%) | $375,928 (2.4%) | 0.00 | 83 |
| 2021-11-01 | $298,000 (-0.6%) | $382,666 (10.1%) | 0.00 | 64 |
| 2021-12-01 | $259,950 (-13.3%) | $351,820 (-4.1%) | 0.00 | 51 |
| 2022-01-01 | $225,000 (-25.0%) | $332,723 (-6.5%) | 0.00 | 40 |
| 2022-02-01 | $246,450 (-14.7%) | $346,520 (-1.6%) | 0.00 | 34 |
| 2022-03-01 | $272,950 (-6.6%) | $340,595 (-3.8%) | 0.00 | 41 |
| 2022-04-01 | $297,450 (1.3%) | $422,670 (8.7%) | 0.00 | 50 |
| 2022-05-01 | $317,975 (6.0%) | $446,217 (19.3%) | 0.00 | 62 |
| 2022-06-01 | $312,450 (3.0%) | $466,911 (26.7%) | 0.00 | 78 |
| 2022-07-01 | $319,900 (7.4%) | $461,892 (25.3%) | 0.00 | 94 |
| 2022-08-01 | $345,925 (13.9%) | $490,802 (31.5%) | 0.00 | 91 |
| 2022-09-01 | $334,000 (6.3%) | $443,391 (21.8%) | 0.00 | 86 |
| 2022-10-01 | $329,000 (9.7%) | $451,209 (20.0%) | 0.00 | 82 |
| 2022-11-01 | $313,700 (5.3%) | $468,012 (22.3%) | 0.00 | 66 |
| 2022-12-01 | $307,500 (18.3%) | $438,613 (24.7%) | 0.00 | 59 |
| 2023-01-01 | $308,500 (37.1%) | $369,708 (11.1%) | 0.00 | 48 |
| 2023-02-01 | $308,750 (25.3%) | $399,053 (15.2%) | 0.00 | 45 |
| 2023-03-01 | $339,000 (24.2%) | $393,610 (15.6%) | 0.00 | 47 |
| 2023-04-01 | $397,450 (33.6%) | $442,114 (4.6%) | 0.00 | 42 |
| 2023-05-01 | $397,400 (25.0%) | $448,441 (0.5%) | 0.00 | 64 |
| 2023-06-01 | $420,950 (34.7%) | $505,445 (8.3%) | 0.00 | 88 |
| 2023-07-01 | $419,900 (31.3%) | $479,050 (3.7%) | 0.00 | 96 |
| 2023-08-01 | $397,450 (14.9%) | $468,243 (-4.6%) | 0.00 | 106 |
| 2023-09-01 | $388,700 (16.4%) | $445,381 (0.5%) | 0.00 | 115 |
| 2023-10-01 | $386,850 (17.6%) | $449,127 (-0.5%) | 0.00 | 110 |
| 2023-11-01 | $391,000 (24.6%) | $450,927 (-3.7%) | 0.00 | 98 |
| 2023-12-01 | $397,375 (29.2%) | $465,096 (6.0%) | 0.00 | 74 |
| 2024-01-01 | $392,450 (27.2%) | $464,047 (25.5%) | 0.00 | 63 |
| 2024-02-01 | $399,400 (29.4%) | $450,971 (13.0%) | 0.00 | 69 |
| 2024-03-01 | $435,000 (28.3%) | $495,048 (25.8%) | 0.00 | 80 |
Alexandria's median listing price comes in at 0% of the national average.
Alexandria's average listing price for 2024-03-01 was $495,048, a difference of $101,438 (25.8%) versus the prior year and $44,077 versus the prior month.
For the 2024-03-01 period, Alexandria had 80 MLS listings, a difference of 11 listings (16%) versus the prior month and 33 listings (70%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Alexandria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,969 sqft |
| 2018-02-01 | 0 days | 2,065 sqft |
| 2018-03-01 | 0 days | 2,091 sqft |
| 2018-04-01 | 0 days | 2,105 sqft |
| 2018-05-01 | 0 days | 2,028 sqft |
| 2018-06-01 | 0 days | 1,917 sqft |
| 2018-07-01 | 0 days | 1,922 sqft |
| 2018-08-01 | 0 days | 1,935 sqft |
| 2018-09-01 | 0 days | 1,934 sqft |
| 2018-10-01 | 0 days | 1,968 sqft |
| 2018-11-01 | 0 days | 1,873 sqft |
| 2018-12-01 | 0 days | 1,981 sqft |
| 2019-01-01 | 0 days | 1,949 sqft |
| 2019-02-01 | 0 days | 1,906 sqft |
| 2019-03-01 | 0 days | 1,934 sqft |
| 2019-04-01 | 0 days | 1,953 sqft |
| 2019-05-01 | 0 days | 1,848 sqft |
| 2019-06-01 | 0 days | 1,820 sqft |
| 2019-07-01 | 0 days | 1,820 sqft |
| 2019-08-01 | 0 days | 1,855 sqft |
| 2019-09-01 | 0 days | 1,909 sqft |
| 2019-10-01 | 0 days | 1,935 sqft |
| 2019-11-01 | 0 days | 1,920 sqft |
| 2019-12-01 | 0 days | 1,905 sqft |
| 2020-01-01 | 0 days | 1,825 sqft |
| 2020-02-01 | 0 days | 1,854 sqft |
| 2020-03-01 | 0 days | 1,880 sqft |
| 2020-04-01 | 0 days | 1,884 sqft |
| 2020-05-01 | 0 days | 1,992 sqft |
| 2020-06-01 | 0 days | 2,015 sqft |
| 2020-07-01 | 0 days | 2,051 sqft |
| 2020-08-01 | 0 days | 2,147 sqft |
| 2020-09-01 | 0 days | 2,267 sqft |
| 2020-10-01 | 0 days | 2,260 sqft |
| 2020-11-01 | 0 days | 2,016 sqft |
| 2020-12-01 | 0 days | 1,975 sqft |
| 2021-01-01 | 0 days | 1,792 sqft |
| 2021-02-01 | 0 days | 1,820 sqft |
| 2021-03-01 | 0 days | 1,838 sqft |
| 2021-04-01 | 0 days | 1,980 sqft |
| 2021-05-01 | 0 days | 1,808 sqft |
| 2021-06-01 | 0 days | 1,905 sqft |
| 2021-07-01 | 0 days | 2,031 sqft |
| 2021-08-01 | 0 days | 1,940 sqft |
| 2021-09-01 | 0 days | 1,916 sqft |
| 2021-10-01 | 0 days | 1,853 sqft |
| 2021-11-01 | 0 days | 1,951 sqft |
| 2021-12-01 | 0 days | 1,785 sqft |
| 2022-01-01 | 0 days | 1,823 sqft |
| 2022-02-01 | 0 days | 2,048 sqft |
| 2022-03-01 | 0 days | 1,966 sqft |
| 2022-04-01 | 0 days | 2,048 sqft |
| 2022-05-01 | 0 days | 1,653 sqft |
| 2022-06-01 | 0 days | 1,702 sqft |
| 2022-07-01 | 0 days | 1,642 sqft |
| 2022-08-01 | 0 days | 1,825 sqft |
| 2022-09-01 | 0 days | 1,590 sqft |
| 2022-10-01 | 0 days | 1,792 sqft |
| 2022-11-01 | 0 days | 1,709 sqft |
| 2022-12-01 | 0 days | 1,623 sqft |
| 2023-01-01 | 0 days | 1,624 sqft |
| 2023-02-01 | 0 days | 1,690 sqft |
| 2023-03-01 | 0 days | 1,724 sqft |
| 2023-04-01 | 0 days | 1,665 sqft |
| 2023-05-01 | 0 days | 1,750 sqft |
| 2023-06-01 | 0 days | 1,954 sqft |
| 2023-07-01 | 0 days | 2,029 sqft |
| 2023-08-01 | 0 days | 2,100 sqft |
| 2023-09-01 | 0 days | 2,081 sqft |
| 2023-10-01 | 0 days | 2,059 sqft |
| 2023-11-01 | 0 days | 2,016 sqft |
| 2023-12-01 | 0 days | 2,010 sqft |
| 2024-01-01 | 0 days | 1,985 sqft |
| 2024-02-01 | 0 days | 1,958 sqft |
| 2024-03-01 | 0 days | 2,028 sqft |
Alexandria's median square footage for active listings during the 2024-03-01 period was 2,028 sqft. One year prior, the average listing was 1,724 sqft.