Ames VA Loan Rates, Closing Costs & Stats

AMES, IA

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.

Ames's 34 lenders originated 129 VA loans during 2024. The total origination value was $35,555,000, with an average VA loan value of $275,620.

Ames VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Ames averaged 0.26% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

Ames's average VA mortgage closing costs are $5,280.

The average rate for the prior week (2025-06-27) was 6.89% and one month ago for the week of 2025-05-30, the average rate was 6.72%.

The average rate one year ago was 6.93%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.22%.

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

Ames 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 Ames level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 28 6.49% $6,422
GUILD MORTGAGE COMPANY 9 6.57% $9,361
IOWA BANKERS MORTGAGE CORPORATION 7 6.41% $4,990
UNITED WHOLESALE MORTGAGE, LLC 6 6.17% $9,429
PENNYMAC LOAN SERVICES, LLC 5 6.05% $4,627
USAA Federal Savings Bank 5 6.78% $5,216
HOMESERVICES LENDING, LLC 5 6.07% $2,840
NEWREZ LLC 5 5.85% $6,071
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.88% $12,241
Barrington Bank & Trust Company, N.A. 4 6.22% $5,251
GREENSTATE CREDIT UNION 4 6.00% $5,847
GUARANTEED RATE, INC. 4 6.34% $11,640
LAND HOME FINANCIAL SERVICES, INC. 4 6.34% $9,276
QUICKEN LOANS, LLC 3 6.29% $12,704
MOVEMENT MORTGAGE, LLC 3 6.25% $4,008
First Federal Bank 2 6.06% $5,456
HOMESIDE FINANCIAL, LLC 2 7.19% $2,280
NAVY FEDERAL CREDIT UNION 2 5.81% $1,979
PLANET HOME LENDING, LLC 2 6.00% $3,084
The Federal Savings Bank 2 6.38% $15,506
BROKER SOLUTIONS, INC. 2 7.13% $5,277
U.S. Bank 2 6.69% $4,445
VILLAGE CAPITAL MORTGAGE 2 5.50% $6,397
Community Choice Credit Union 1 6.63% $1,142
CMG MORTGAGE, INC. 1 7.38% $8,240
Carrington Mortgage Services, LLC 1 5.88% $8,377
ENVOY MORTGAGE, LTD 1 6.63% $1,295
The Central Trust Bank 1 6.63% $17,785
Wells Fargo Bank 1 6.63% $8,786
COMPASS MORTGAGE, INC. 1 7.50% $7,483
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $3,234
Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $10,440
GERSHMAN INVESTMENT CORP. 1 6.00% $8,071
NEW DAY FINANCIAL, LLC 1 7.50% $6,305

The top Ames VA lender as defined by loan originations is Mortgage Research Center, LLC, with 28 VA loans originated. Their average total fees are $6,422, which is $2,939 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Ames VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,422), .

The lowest rate Ames VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.49%), .

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.