Bemidji VA Loan Rates, Closing Costs & Stats

Bemidji, 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.

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 6.78% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

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

The average rate for the prior week (2024-03-15) was 6.89% and one month ago for the week of 2024-02-16, the average rate was 6.52%.

The average rate one year ago was 6.25%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.54%.

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
Bemidji's median listing price for 2024-02-01 was $347,075, a difference of $-2,825 (-0.8%) versus the prior year and $-175 versus the prior month.

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

Bemidji's average listing price for 2024-02-01 was $401,930, a difference of $874 (0.2%) versus the prior year and $1,338 versus the prior month.

For the 2024-02-01 period, Bemidji had 85 MLS listings, a difference of -4 listings (-4%) versus the prior month and 23 listings (37%) 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
Bemidji's median listing age (time on market) for 2024-02-01 was 0 days.

Bemidji's median square footage for active listings during the 2024-02-01 period was 1,793 sqft. One year prior, the average listing was 1,856 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.