Ames VA Loan Rates, Closing Costs & Stats

AMES, IA

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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.

    Ames's 44 lenders originated 132 VA loans during 2022. The total origination value was $33,200,000, with an average VA loan value of $251,515.

    Ames VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Ames averaged 5.89% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Ames's average VA mortgage closing costs are $4,891.

    The average rate for the prior week (2023-05-19) was 5.81% and one month ago for the week of 2023-04-21, the average rate was 5.74%.

    The average rate one year ago was 4.91%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.46%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 25 4.90% $5,533
    INLANTA MORTGAGE, INC. 10 4.58% $9,573
    QUICKEN LOANS, LLC 7 4.14% $8,332
    Wells Fargo Bank 5 4.45% $4,999
    NEW DAY FINANCIAL, LLC 5 5.44% $11,699
    VERIDIAN CREDIT UNION 5 3.33% $15,003
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.90% $9,282
    Barrington Bank & Trust Company, N.A. 4 4.75% $4,656
    USAA Federal Savings Bank 4 4.03% $7,395
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.21% $6,762
    PENNYMAC LOAN SERVICES, LLC 3 3.17% $4,650
    Lincoln Savings Bank 3 6.29% $6,138
    Servion, Inc. 3 3.54% $5,902
    NAVY FEDERAL CREDIT UNION 3 3.67% $11,703
    IOWA BANKERS MORTGAGE CORPORATION 2 6.00% $6,632
    FRONTIER FINANCIAL, INC. 2 5.19% $9,073
    HOMESIDE FINANCIAL, LLC 2 4.50% $7,173
    Ixonia Bank 2 5.06% $7,472
    Chickasaw Community Bank 2 4.06% $4,186
    LAKEVIEW LOAN SERVICING, LLC 2 3.94% $2,280
    GERSHMAN INVESTMENT CORP. 2 4.69% $5,609
    Plains Commerce Bank 2 5.50% $4,687
    NEWREZ LLC 2 5.13% $6,613
    Truist 1 3.25% $46
    UNION HOME MORTGAGE CORP. 1 3.75% $12,896
    UNITED WHOLESALE MORTGAGE, LLC 1 3.58% $2,612
    CHURCHILL MORTGAGE CORPORATION 1 5.63% $4,871
    NBKC BANK 1 5.00% $7,041
    First Interstate Bank 1 3.75% $14,136
    Flagstar Bank, FSB 1 5.25% $2,910
    Fortress Bank 1 2.75% $5,761
    Great Western Bank 1 2.75% $3,040
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.13% $4,608
    HOMESERVICES LENDING, LLC 1 4.50% $9,641
    LAND HOME FINANCIAL SERVICES, INC. 1 4.75% $7,053
    CALIBER HOME LOANS, INC. 1 5.25% $2,544
    Mr. Cooper ( Nationstar Mortgage ) 1 3.75% $7,991
    Fidelity Bank 1 3.25% $10,638
    Neighborhood Loans, Inc. 1 4.99% $14,350
    VILLAGE CAPITAL MORTGAGE 1 4.38% $5,179
    Paramount Bank 1 3.25% $3,434
    Princeton Mortgage Corporation 1 5.13% $3,695
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 4.75% $11,961
    Strong Home Mortgage, LLC 1 5.13% $6,951

    The top Ames VA lender as defined by loan originations is Mortgage Research Center, LLC, with 25 VA loans originated. Their average total fees are $5,533, which is $4,040 lower than the next largest lender, INLANTA MORTGAGE, INC..

    The lowest fee Ames VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,533), INLANTA MORTGAGE, INC. ($9,573), .

    The lowest rate Ames VA lenders (with over 10 loans originated) are INLANTA MORTGAGE, INC. (4.58%), Mortgage Research Center, LLC (4.90%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ames (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 $224,350 (12.2%) $254,620 (6.0%) 0.00 296
    2018-02-01 $243,120 (13.6%) $262,187 (7.8%) 0.00 295
    2018-03-01 $254,225 (7.1%) $274,272 (4.9%) 0.00 303
    2018-04-01 $263,450 (7.5%) $281,018 (2.1%) 0.00 310
    2018-05-01 $259,690 (0.1%) $274,137 (-1.0%) 0.00 334
    2018-06-01 $249,900 (-2.1%) $269,824 (-5.0%) 0.00 368
    2018-07-01 $237,250 (-0.1%) $258,323 (-4.5%) 0.00 383
    2018-08-01 $237,000 (1.5%) $256,987 (-4.2%) 0.00 410
    2018-09-01 $229,000 (1.8%) $247,258 (-4.1%) 0.00 450
    2018-10-01 $219,950 (0.0%) $240,885 (-4.1%) 0.00 453
    2018-11-01 $219,563 (4.1%) $239,389 (-3.2%) 0.00 426
    2018-12-01 $219,900 (4.2%) $240,269 (-2.3%) 0.00 403
    2019-01-01 $215,000 (-4.2%) $237,497 (-6.7%) 0.00 374
    2019-02-01 $220,700 (-9.2%) $242,098 (-7.7%) 0.00 360
    2019-03-01 $235,000 (-7.6%) $252,808 (-7.8%) 0.00 360
    2019-04-01 $249,525 (-5.3%) $262,864 (-6.5%) 0.00 402
    2019-05-01 $241,975 (-6.8%) $264,405 (-3.6%) 0.00 422
    2019-06-01 $242,350 (-3.0%) $269,343 (-0.2%) 0.00 470
    2019-07-01 $241,000 (1.6%) $262,269 (1.5%) 0.00 478
    2019-08-01 $239,700 (1.1%) $263,121 (2.4%) 0.00 479
    2019-09-01 $229,750 (0.3%) $257,130 (4.0%) 0.00 453
    2019-10-01 $221,450 (0.7%) $247,882 (2.9%) 0.00 468
    2019-11-01 $220,950 (0.6%) $245,620 (2.6%) 0.00 411
    2019-12-01 $225,000 (2.3%) $247,047 (2.8%) 0.00 368
    2020-01-01 $224,825 (4.6%) $250,498 (5.5%) 0.00 338
    2020-02-01 $224,450 (1.7%) $249,608 (3.1%) 0.00 340
    2020-03-01 $239,900 (2.1%) $260,472 (3.0%) 0.00 360
    2020-04-01 $240,000 (-3.8%) $260,844 (-0.8%) 0.00 350
    2020-05-01 $245,000 (1.3%) $275,451 (4.2%) 0.00 325
    2020-06-01 $250,950 (3.6%) $279,656 (3.8%) 0.00 328
    2020-07-01 $250,425 (3.9%) $280,416 (6.9%) 0.00 299
    2020-08-01 $251,150 (4.8%) $285,738 (8.6%) 0.00 282
    2020-09-01 $258,475 (12.5%) $286,570 (11.5%) 0.00 278
    2020-10-01 $266,000 (20.1%) $289,491 (16.8%) 0.00 280
    2020-11-01 $271,950 (23.1%) $280,507 (14.2%) 0.00 242
    2020-12-01 $271,375 (20.6%) $281,312 (13.9%) 0.00 203
    2021-01-01 $288,000 (28.1%) $298,762 (19.3%) 0.00 166
    2021-02-01 $289,675 (29.1%) $298,843 (19.7%) 0.00 148
    2021-03-01 $283,975 (18.4%) $315,687 (21.2%) 0.00 157
    2021-04-01 $270,000 (12.5%) $315,357 (20.9%) 0.00 166
    2021-05-01 $271,500 (10.8%) $314,427 (14.2%) 0.00 163
    2021-06-01 $266,500 (6.2%) $308,772 (10.4%) 0.00 160
    2021-07-01 $260,000 (3.8%) $291,146 (3.8%) 0.00 167
    2021-08-01 $248,500 (-1.1%) $282,690 (-1.1%) 0.00 185
    2021-09-01 $247,500 (-4.3%) $286,702 (0.1%) 0.00 213
    2021-10-01 $224,950 (-15.4%) $271,840 (-6.1%) 0.00 220
    2021-11-01 $228,750 (-15.9%) $278,022 (-0.9%) 0.00 200
    2021-12-01 $244,225 (-10.0%) $274,920 (-2.3%) 0.00 177
    2022-01-01 $252,000 (-12.5%) $278,471 (-6.8%) 0.00 145
    2022-02-01 $299,725 (3.5%) $311,684 (4.3%) 0.00 123
    2022-03-01 $296,238 (4.3%) $312,031 (-1.2%) 0.00 125
    2022-04-01 $289,000 (7.0%) $317,692 (0.7%) 0.00 127
    2022-05-01 $297,500 (9.6%) $332,079 (5.6%) 0.00 168
    2022-06-01 $292,375 (9.7%) $340,066 (10.1%) 0.00 174
    2022-07-01 $299,900 (15.4%) $334,449 (14.9%) 0.00 186
    2022-08-01 $293,000 (17.9%) $323,186 (14.3%) 0.00 164
    2022-09-01 $283,333 (14.5%) $314,563 (9.7%) 0.00 177
    2022-10-01 $279,000 (24.0%) $354,952 (30.6%) 0.00 188
    2022-11-01 $296,725 (29.7%) $363,534 (30.8%) 0.00 167
    2022-12-01 $300,000 (22.8%) $364,329 (32.5%) 0.00 164
    2023-01-01 $309,375 (22.8%) $375,521 (34.9%) 0.00 157
    2023-02-01 $327,975 (9.4%) $404,734 (29.9%) 0.00 144
    2023-03-01 $311,225 (5.1%) $388,200 (24.4%) 0.00 158
    2023-04-01 $336,700 (16.5%) $401,199 (26.3%) 0.00 152
    Ames's median listing price for 2023-04-01 was $336,700, a difference of $47,700 (16.5%) versus the prior year and $25,475 versus the prior month.

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

    Ames's average listing price for 2023-04-01 was $401,199, a difference of $83,507 (26.3%) versus the prior year and $12,999 versus the prior month.

    For the 2023-04-01 period, Ames had 152 MLS listings, a difference of -6 listings (-4%) versus the prior month and 25 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ames (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,564 sqft
    2018-02-01 0 days 1,541 sqft
    2018-03-01 0 days 1,555 sqft
    2018-04-01 0 days 1,609 sqft
    2018-05-01 0 days 1,580 sqft
    2018-06-01 0 days 1,557 sqft
    2018-07-01 0 days 1,529 sqft
    2018-08-01 0 days 1,533 sqft
    2018-09-01 0 days 1,522 sqft
    2018-10-01 0 days 1,515 sqft
    2018-11-01 0 days 1,499 sqft
    2018-12-01 0 days 1,501 sqft
    2019-01-01 0 days 1,487 sqft
    2019-02-01 0 days 1,509 sqft
    2019-03-01 0 days 1,519 sqft
    2019-04-01 0 days 1,538 sqft
    2019-05-01 0 days 1,582 sqft
    2019-06-01 0 days 1,552 sqft
    2019-07-01 0 days 1,539 sqft
    2019-08-01 0 days 1,514 sqft
    2019-09-01 0 days 1,507 sqft
    2019-10-01 0 days 1,501 sqft
    2019-11-01 0 days 1,503 sqft
    2019-12-01 0 days 1,501 sqft
    2020-01-01 0 days 1,474 sqft
    2020-02-01 0 days 1,472 sqft
    2020-03-01 0 days 1,520 sqft
    2020-04-01 0 days 1,535 sqft
    2020-05-01 0 days 1,560 sqft
    2020-06-01 0 days 1,562 sqft
    2020-07-01 0 days 1,578 sqft
    2020-08-01 0 days 1,565 sqft
    2020-09-01 0 days 1,544 sqft
    2020-10-01 0 days 1,552 sqft
    2020-11-01 0 days 1,509 sqft
    2020-12-01 0 days 1,499 sqft
    2021-01-01 0 days 1,502 sqft
    2021-02-01 0 days 1,498 sqft
    2021-03-01 0 days 1,516 sqft
    2021-04-01 0 days 1,502 sqft
    2021-05-01 0 days 1,486 sqft
    2021-06-01 0 days 1,471 sqft
    2021-07-01 0 days 1,471 sqft
    2021-08-01 0 days 1,463 sqft
    2021-09-01 0 days 1,455 sqft
    2021-10-01 0 days 1,436 sqft
    2021-11-01 0 days 1,457 sqft
    2021-12-01 0 days 1,453 sqft
    2022-01-01 0 days 1,471 sqft
    2022-02-01 0 days 1,475 sqft
    2022-03-01 0 days 1,498 sqft
    2022-04-01 0 days 1,481 sqft
    2022-05-01 0 days 1,487 sqft
    2022-06-01 0 days 1,482 sqft
    2022-07-01 0 days 1,481 sqft
    2022-08-01 0 days 1,459 sqft
    2022-09-01 0 days 1,457 sqft
    2022-10-01 0 days 1,475 sqft
    2022-11-01 0 days 1,472 sqft
    2022-12-01 0 days 1,481 sqft
    2023-01-01 0 days 1,468 sqft
    2023-02-01 0 days 1,492 sqft
    2023-03-01 0 days 1,484 sqft
    2023-04-01 0 days 1,495 sqft
    Ames's median listing age (time on market) for 2023-04-01 was 0 days.

    Ames's median square footage for active listings during the 2023-04-01 period was 1,495 sqft. One year prior, the average listing was 1,481 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.