Bemidji VA Loan Rates, Closing Costs & Stats

Bemidji, MN

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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.

    Bemidji's 22 lenders originated 40 VA loans during 2023. The total origination value was $10,510,000, with an average VA loan value of $262,750.

    Bemidji VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bemidji averaged 6.52% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Bemidji's average VA mortgage closing costs are $4,861.

    The average rate for the prior week (2024-12-06) was 6.26% and one month ago for the week of 2024-11-08, the average rate was 6.75%.

    The average rate one year ago was 6.7%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.88%.

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

    Bemidji 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 Bemidji level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 10 7.17% $6,081
    UNITED WHOLESALE MORTGAGE, LLC 3 7.25% $11,037
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.94% $9,583
    LOANDEPOT.COM, LLC 2 6.69% $6,473
    QUICKEN LOANS, LLC 2 6.74% $14,562
    USAA Federal Savings Bank 2 5.50% $14,330
    Wells Fargo Bank 2 6.06% $8,071
    Mid-Continent Funding, Inc. 1 5.75% $5,473
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $4,641
    MOVEMENT MORTGAGE, LLC 1 6.25% $2,366
    NBKC BANK 1 5.50% $4,764
    NEW DAY FINANCIAL, LLC 1 6.88% $12,491
    North Shore Bank of Commerce 1 6.00% $2,106
    PENNYMAC LOAN SERVICES, LLC 1 4.38% $9,069
    Plains Commerce Bank 1 6.25% $3,151
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.00% $495
    U.S. Bank 1 6.75% $11,734
    Barrington Bank & Trust Company, N.A. 1 7.75% $4,504
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $3,289
    Flagstar Bank, FSB 1 5.63% $4,566
    FREEDOM MORTGAGE CORPORATION 1 6.75% $9,904
    VILLAGE CAPITAL MORTGAGE 1 6.75% $7,334

    The top Bemidji VA lender as defined by loan originations is Mortgage Research Center, LLC, with 10 VA loans originated. Their average total fees are $6,081, which is $4,956 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bemidji VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,081), .

    The lowest rate Bemidji VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.17%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bemidji (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 $212,400 (0.1%) $236,309 (-3.8%) 0.00 190
    2018-02-01 $219,900 (1.2%) $246,903 (0.3%) 0.00 187
    2018-03-01 $239,800 (1.7%) $263,924 (3.5%) 0.00 184
    2018-04-01 $245,350 (7.3%) $276,988 (10.6%) 0.00 197
    2018-05-01 $243,475 (1.8%) $280,704 (10.1%) 0.00 216
    2018-06-01 $239,850 (0.0%) $276,597 (9.0%) 0.00 254
    2018-07-01 $234,875 (-2.1%) $270,111 (5.0%) 0.00 279
    2018-08-01 $229,450 (-2.1%) $264,900 (3.9%) 0.00 267
    2018-09-01 $207,450 (-8.0%) $257,247 (2.2%) 0.00 243
    2018-10-01 $202,100 (-8.8%) $254,509 (5.3%) 0.00 228
    2018-11-01 $191,825 (-12.0%) $248,025 (2.1%) 0.00 217
    2018-12-01 $189,900 (-8.9%) $245,631 (4.0%) 0.00 186
    2019-01-01 $195,125 (-8.1%) $250,213 (5.9%) 0.00 156
    2019-02-01 $200,725 (-8.7%) $255,047 (3.3%) 0.00 156
    2019-03-01 $210,786 (-12.1%) $261,299 (-1.0%) 0.00 164
    2019-04-01 $224,011 (-8.7%) $269,841 (-2.6%) 0.00 174
    2019-05-01 $224,900 (-7.6%) $261,757 (-6.8%) 0.00 195
    2019-06-01 $224,963 (-6.2%) $264,964 (-4.2%) 0.00 206
    2019-07-01 $225,200 (-4.1%) $268,553 (-0.6%) 0.00 223
    2019-08-01 $224,936 (-2.0%) $262,154 (-1.0%) 0.00 216
    2019-09-01 $224,916 (8.4%) $259,801 (1.0%) 0.00 207
    2019-10-01 $224,900 (11.3%) $257,534 (1.2%) 0.00 198
    2019-11-01 $225,900 (17.8%) $262,733 (5.9%) 0.00 177
    2019-12-01 $225,900 (19.0%) $258,917 (5.4%) 0.00 156
    2020-01-01 $225,900 (15.8%) $258,847 (3.5%) 0.00 130
    2020-02-01 $225,900 (12.5%) $263,226 (3.2%) 0.00 132
    2020-03-01 $225,900 (7.2%) $268,028 (2.6%) 0.00 150
    2020-04-01 $229,675 (2.5%) $284,753 (5.5%) 0.00 153
    2020-05-01 $229,900 (2.2%) $285,826 (9.2%) 0.00 154
    2020-06-01 $242,825 (7.9%) $295,446 (11.5%) 0.00 146
    2020-07-01 $245,900 (9.2%) $293,829 (9.4%) 0.00 133
    2020-08-01 $239,400 (6.4%) $291,166 (11.1%) 0.00 125
    2020-09-01 $239,400 (6.4%) $288,102 (10.9%) 0.00 119
    2020-10-01 $215,000 (-4.4%) $266,740 (3.6%) 0.00 111
    2020-11-01 $211,150 (-6.5%) $261,372 (-0.5%) 0.00 93
    2020-12-01 $215,000 (-4.8%) $279,893 (8.1%) 0.00 82
    2021-01-01 $228,800 (1.3%) $312,986 (20.9%) 0.00 63
    2021-02-01 $253,200 (12.1%) $353,935 (34.5%) 0.00 47
    2021-03-01 $278,650 (23.4%) $400,965 (49.6%) 0.00 45
    2021-04-01 $274,900 (19.7%) $398,868 (40.1%) 0.00 57
    2021-05-01 $266,375 (15.9%) $364,563 (27.6%) 0.00 90
    2021-06-01 $264,163 (8.8%) $321,543 (8.8%) 0.00 119
    2021-07-01 $269,900 (9.8%) $321,340 (9.4%) 0.00 118
    2021-08-01 $288,225 (20.4%) $324,898 (11.6%) 0.00 127
    2021-09-01 $282,175 (17.9%) $329,608 (14.4%) 0.00 122
    2021-10-01 $274,477 (27.7%) $330,205 (23.8%) 0.00 112
    2021-11-01 $267,375 (26.6%) $318,946 (22.0%) 0.00 92
    2021-12-01 $285,000 (32.6%) $317,446 (13.4%) 0.00 73
    2022-01-01 $279,900 (22.3%) $320,274 (2.3%) 0.00 66
    2022-02-01 $282,975 (11.8%) $332,273 (-6.1%) 0.00 51
    2022-03-01 $278,200 (-0.2%) $316,389 (-21.1%) 0.00 61
    2022-04-01 $279,900 (1.8%) $318,044 (-20.3%) 0.00 66
    2022-05-01 $297,175 (11.6%) $367,802 (0.9%) 0.00 80
    2022-06-01 $299,450 (13.4%) $372,056 (15.7%) 0.00 87
    2022-07-01 $284,450 (5.4%) $352,596 (9.7%) 0.00 104
    2022-08-01 $300,700 (4.3%) $359,557 (10.7%) 0.00 115
    2022-09-01 $309,000 (9.5%) $360,020 (9.2%) 0.00 115
    2022-10-01 $314,100 (14.4%) $393,413 (19.1%) 0.00 103
    2022-11-01 $317,000 (18.6%) $375,407 (17.7%) 0.00 94
    2022-12-01 $330,000 (15.8%) $374,094 (17.8%) 0.00 81
    2023-01-01 $342,450 (22.4%) $388,943 (21.4%) 0.00 63
    2023-02-01 $349,900 (23.7%) $401,056 (20.7%) 0.00 62
    2023-03-01 $353,450 (27.1%) $410,059 (29.6%) 0.00 60
    2023-04-01 $340,000 (21.5%) $387,538 (21.9%) 0.00 67
    2023-05-01 $344,003 (15.8%) $401,620 (9.2%) 0.00 84
    2023-06-01 $349,900 (16.9%) $397,990 (7.0%) 0.00 103
    2023-07-01 $348,000 (22.3%) $385,388 (9.3%) 0.00 116
    2023-08-01 $342,050 (13.8%) $398,865 (10.9%) 0.00 132
    2023-09-01 $346,500 (12.1%) $398,059 (10.6%) 0.00 133
    2023-10-01 $346,550 (10.3%) $393,970 (0.1%) 0.00 124
    2023-11-01 $338,725 (6.9%) $395,887 (5.5%) 0.00 115
    2023-12-01 $340,500 (3.2%) $392,330 (4.9%) 0.00 97
    2024-01-01 $347,250 (1.4%) $400,592 (3.0%) 0.00 89
    2024-02-01 $347,075 (-0.8%) $401,930 (0.2%) 0.00 85
    2024-03-01 $349,900 (-1.0%) $412,851 (0.7%) 0.00 77
    2024-04-01 $352,725 (3.7%) $402,007 (3.7%) 0.00 97
    2024-05-01 $348,950 (1.4%) $385,837 (-3.9%) 0.00 123
    2024-06-01 $349,900 (0.0%) $395,113 (-0.7%) 0.00 130
    2024-07-01 $349,900 (0.6%) $407,455 (5.7%) 0.00 142
    2024-08-01 $369,900 (8.1%) $421,305 (5.6%) 0.00 155
    2024-09-01 $375,000 (8.2%) $426,441 (7.1%) 0.00 152
    2024-10-01 $370,150 (6.8%) $426,487 (8.3%) 0.00 150
    2024-11-01 $349,999 (3.3%) $400,546 (1.2%) 0.00 145
    Bemidji's median listing price for 2024-11-01 was $349,999, a difference of $11,274 (3.3%) versus the prior year and $-20,151 versus the prior month.

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

    Bemidji's average listing price for 2024-11-01 was $400,546, a difference of $4,659 (1.2%) versus the prior year and $-25,941 versus the prior month.

    For the 2024-11-01 period, Bemidji had 145 MLS listings, a difference of -5 listings (-3%) versus the prior month and 30 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bemidji (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,605 sqft
    2018-02-01 0 days 1,626 sqft
    2018-03-01 0 days 1,698 sqft
    2018-04-01 0 days 1,910 sqft
    2018-05-01 0 days 1,844 sqft
    2018-06-01 0 days 1,872 sqft
    2018-07-01 0 days 1,808 sqft
    2018-08-01 0 days 1,796 sqft
    2018-09-01 0 days 1,920 sqft
    2018-10-01 0 days 1,850 sqft
    2018-11-01 0 days 1,795 sqft
    2018-12-01 0 days 1,785 sqft
    2019-01-01 0 days 1,730 sqft
    2019-02-01 0 days 1,767 sqft
    2019-03-01 0 days 1,777 sqft
    2019-04-01 0 days 1,776 sqft
    2019-05-01 0 days 1,801 sqft
    2019-06-01 0 days 1,901 sqft
    2019-07-01 0 days 1,957 sqft
    2019-08-01 0 days 1,986 sqft
    2019-09-01 0 days 2,046 sqft
    2019-10-01 0 days 2,071 sqft
    2019-11-01 0 days 2,048 sqft
    2019-12-01 0 days 1,961 sqft
    2020-01-01 0 days 1,986 sqft
    2020-02-01 0 days 1,980 sqft
    2020-03-01 0 days 1,885 sqft
    2020-04-01 0 days 1,976 sqft
    2020-05-01 0 days 1,884 sqft
    2020-06-01 0 days 1,950 sqft
    2020-07-01 0 days 2,089 sqft
    2020-08-01 0 days 2,181 sqft
    2020-09-01 0 days 2,102 sqft
    2020-10-01 0 days 2,016 sqft
    2020-11-01 0 days 1,924 sqft
    2020-12-01 0 days 2,103 sqft
    2021-01-01 0 days 2,154 sqft
    2021-02-01 0 days 2,061 sqft
    2021-03-01 0 days 2,143 sqft
    2021-04-01 0 days 2,333 sqft
    2021-05-01 0 days 1,522 sqft
    2021-06-01 0 days 1,749 sqft
    2021-07-01 0 days 1,744 sqft
    2021-08-01 0 days 1,822 sqft
    2021-09-01 0 days 1,880 sqft
    2021-10-01 0 days 1,772 sqft
    2021-11-01 0 days 1,489 sqft
    2021-12-01 0 days 1,568 sqft
    2022-01-01 0 days 1,568 sqft
    2022-02-01 0 days 1,293 sqft
    2022-03-01 0 days 1,508 sqft
    2022-04-01 0 days 1,591 sqft
    2022-05-01 0 days 1,807 sqft
    2022-06-01 0 days 1,770 sqft
    2022-07-01 0 days 1,560 sqft
    2022-08-01 0 days 1,681 sqft
    2022-09-01 0 days 1,779 sqft
    2022-10-01 0 days 1,904 sqft
    2022-11-01 0 days 1,894 sqft
    2022-12-01 0 days 1,872 sqft
    2023-01-01 0 days 1,896 sqft
    2023-02-01 0 days 1,856 sqft
    2023-03-01 0 days 1,880 sqft
    2023-04-01 0 days 1,745 sqft
    2023-05-01 0 days 1,768 sqft
    2023-06-01 0 days 1,834 sqft
    2023-07-01 0 days 1,798 sqft
    2023-08-01 0 days 1,950 sqft
    2023-09-01 0 days 1,910 sqft
    2023-10-01 0 days 1,940 sqft
    2023-11-01 0 days 1,813 sqft
    2023-12-01 0 days 1,840 sqft
    2024-01-01 0 days 1,841 sqft
    2024-02-01 0 days 1,793 sqft
    2024-03-01 0 days 1,793 sqft
    2024-04-01 0 days 1,766 sqft
    2024-05-01 0 days 1,705 sqft
    2024-06-01 0 days 1,749 sqft
    2024-07-01 0 days 1,836 sqft
    2024-08-01 0 days 1,738 sqft
    2024-09-01 0 days 1,739 sqft
    2024-10-01 0 days 1,692 sqft
    2024-11-01 0 days 1,664 sqft
    Bemidji's median listing age (time on market) for 2024-11-01 was 0 days.

    Bemidji's median square footage for active listings during the 2024-11-01 period was 1,664 sqft. One year prior, the average listing was 1,813 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.