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 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.