Bismarck VA Loan Rates, Closing Costs & Stats

BISMARCK, ND

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.

Bismarck's 36 lenders originated 168 VA loans during 2022. The total origination value was $55,290,000, with an average VA loan value of $329,107.

Bismarck VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Bismarck averaged -0.51% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Bismarck's average VA mortgage closing costs are $6,365.

The average rate for the prior week (2024-02-16) was 5.97% and one month ago for the week of 2024-01-19, the average rate was 5.62%.

The average rate one year ago was 5.74%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.43%.

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

Bismarck 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 Bismarck level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 19 5.31% $7,746
Gate City Bank 18 4.15% $10,678
ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 4.97% $10,424
UNITED WHOLESALE MORTGAGE, LLC 11 4.73% $8,748
Dakota Community Bank & Trust 9 3.35% $9,729
Flagstar Bank, FSB 8 3.44% $10,034
GUARANTEED RATE, INC. 8 4.23% $4,766
NAVY FEDERAL CREDIT UNION 6 3.00% $12,792
FREEDOM MORTGAGE CORPORATION 6 4.65% $12,567
USAA Federal Savings Bank 6 4.21% $9,028
QUICKEN LOANS, LLC 5 3.90% $6,055
PENNYMAC LOAN SERVICES, LLC 5 3.47% $14,084
NEWREZ LLC 4 3.19% $5,990
Bank of England 4 4.16% $4,261
First International Bank & Trust 4 4.28% $4,741
The Federal Savings Bank 3 4.50% $12,001
CAPITAL CREDIT UNION 3 3.16% $11,238
LOANDEPOT.COM, LLC 2 4.12% $5,339
BROKER SOLUTIONS, INC. 2 5.38% $8,136
U.S. Bank 2 5.66% $5,325
Citizens Bank 2 3.06% $7,427
CALIBER HOME LOANS, INC. 2 3.56% $6,216
PLANET HOME LENDING, LLC 2 3.63% $12,687
Magnolia Bank 2 4.50% $16,134
CROSSCOUNTRY MORTGAGE, LLC 2 6.19% $16,470
Wyoming Bank & Trust 1 4.25% $3,346
AMERISAVE MORTGAGE CORPORATION 1 5.25% $6,253
BNC National Bank 1 4.00% $2,684
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.25% $17,967
HOMESIDE FINANCIAL, LLC 1 6.25% $10,639
Low VA Rates, LLC 1 4.38% $19,501
Mutual Federal Bank 1 4.25% $6,080
NP, Inc. 1 2.63% $6,194
S1L, Inc. 1 4.63% $7,913
The Huntington National Bank 1 5.50% $8,013
American Bank Center 1 5.20% $8,054

The top Bismarck VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $7,746, which is $2,933 lower than the next largest lender, Gate City Bank.

The lowest fee Bismarck VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,746), UNITED WHOLESALE MORTGAGE, LLC ($8,748), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($10,424), Gate City Bank ($10,678) and .

The lowest rate Bismarck VA lenders (with over 10 loans originated) are Gate City Bank (4.15%), UNITED WHOLESALE MORTGAGE, LLC (4.73%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (4.97%), Mortgage Research Center, LLC (5.31%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bismarck (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 $259,900 (1.0%) $297,309 (-3.9%) 0.96 577
2018-02-01 $255,400 (0.4%) $292,242 (-4.5%) 0.93 582
2018-03-01 $264,000 (1.6%) $302,553 (-2.6%) 0.93 606
2018-04-01 $269,900 (0.0%) $313,844 (-1.5%) 0.92 625
2018-05-01 $269,900 (0.9%) $315,735 (-1.0%) 0.90 701
2018-06-01 $274,900 (2.4%) $330,098 (2.5%) 0.92 741
2018-07-01 $268,400 (1.7%) $331,715 (5.2%) 0.90 753
2018-08-01 $269,175 (2.6%) $332,094 (4.6%) 0.90 779
2018-09-01 $272,900 (3.0%) $329,724 (3.8%) 0.92 815
2018-10-01 $269,675 (4.8%) $326,126 (6.3%) 0.91 812
2018-11-01 $269,900 (4.9%) $328,428 (7.9%) 0.91 792
2018-12-01 $274,900 (5.8%) $334,101 (10.4%) 0.95 732
2019-01-01 $273,900 (5.4%) $327,632 (10.2%) 0.95 665
2019-02-01 $269,900 (5.7%) $326,412 (11.7%) 0.91 650
2019-03-01 $274,186 (3.9%) $328,006 (8.4%) 0.90 633
2019-04-01 $279,186 (3.4%) $329,408 (5.0%) 0.89 647
2019-05-01 $271,900 (0.7%) $319,806 (1.3%) 0.85 709
2019-06-01 $270,995 (-1.4%) $320,071 (-3.0%) 0.85 763
2019-07-01 $269,900 (0.6%) $321,602 (-3.1%) 0.84 782
2019-08-01 $269,900 (0.3%) $321,169 (-3.3%) 0.85 768
2019-09-01 $269,900 (-1.1%) $316,299 (-4.1%) 0.86 740
2019-10-01 $269,900 (0.1%) $313,052 (-4.0%) 0.87 710
2019-11-01 $269,900 (0.0%) $314,432 (-4.3%) 0.88 642
2019-12-01 $269,900 (-1.8%) $314,789 (-5.8%) 0.90 589
2020-01-01 $269,900 (-1.5%) $315,089 (-3.8%) 0.90 506
2020-02-01 $274,900 (1.9%) $312,530 (-4.3%) 0.90 494
2020-03-01 $282,448 (3.0%) $322,778 (-1.6%) 0.89 504
2020-04-01 $294,950 (5.7%) $330,523 (0.3%) 0.92 508
2020-05-01 $289,000 (6.3%) $329,888 (3.2%) 0.88 514
2020-06-01 $283,475 (4.6%) $330,828 (3.4%) 0.84 499
2020-07-01 $277,990 (3.0%) $330,348 (2.7%) 0.81 479
2020-08-01 $289,900 (7.4%) $350,588 (9.2%) 0.83 455
2020-09-01 $298,000 (10.4%) $356,920 (12.8%) 0.85 443
2020-10-01 $299,900 (11.1%) $357,915 (14.3%) 0.86 425
2020-11-01 $292,718 (8.5%) $355,688 (13.1%) 0.86 391
2020-12-01 $299,900 (11.1%) $370,530 (17.7%) 0.89 340
2021-01-01 $304,900 (13.0%) $368,349 (16.9%) 0.91 270
2021-02-01 $311,175 (13.2%) $396,692 (26.9%) 0.91 207
2021-03-01 $317,900 (12.6%) $402,105 (24.6%) 0.90 205
2021-04-01 $330,200 (12.0%) $409,890 (24.0%) 0.89 198
2021-05-01 $336,950 (16.6%) $410,514 (24.4%) 0.90 202
2021-06-01 $314,900 (11.1%) $394,429 (19.2%) 0.83 245
2021-07-01 $269,900 (-2.9%) $383,422 (16.1%) 0.71 260
2021-08-01 $269,900 (-6.9%) $377,351 (7.6%) 0.72 264
2021-09-01 $269,900 (-9.4%) $367,783 (3.0%) 0.72 264
2021-10-01 $274,500 (-8.5%) $361,761 (1.1%) 0.73 277
2021-11-01 $277,400 (-5.2%) $364,848 (2.6%) 0.74 247
2021-12-01 $265,000 (-11.6%) $362,827 (-2.1%) 0.72 230
2022-01-01 $299,450 (-1.8%) $371,271 (0.8%) 0.81 190
2022-02-01 $338,900 (8.9%) $383,801 (-3.3%) 0.88 179
2022-03-01 $342,925 (7.9%) $402,536 (0.1%) 0.86 177
2022-04-01 $349,950 (6.0%) $434,319 (6.0%) 0.83 178
2022-05-01 $389,800 (15.7%) $459,224 (11.9%) 0.89 196
2022-06-01 $404,225 (28.4%) $481,404 (22.1%) 0.90 225
2022-07-01 $385,400 (42.8%) $457,569 (19.3%) 0.87 296
2022-08-01 $369,900 (37.1%) $439,980 (16.6%) 0.86 289
2022-09-01 $369,950 (37.1%) $443,959 (20.7%) 0.86 283
2022-10-01 $372,500 (35.7%) $436,944 (20.8%) 0.88 291
2022-11-01 $368,200 (32.7%) $429,312 (17.7%) 0.89 299
2022-12-01 $392,450 (48.1%) $430,715 (18.7%) 0.97 275
2023-01-01 $399,900 (33.5%) $437,901 (18.0%) 0.99 271
2023-02-01 $404,450 (19.3%) $446,267 (16.3%) 0.98 242
2023-03-01 $429,950 (25.4%) $457,414 (13.6%) 1.01 232
2023-04-01 $435,000 (24.3%) $454,609 (4.7%) 1.01 227
2023-05-01 $459,900 (18.0%) $499,735 (8.8%) 1.04 239
2023-06-01 $462,950 (14.5%) $506,196 (5.2%) 1.05 264
2023-07-01 $459,900 (19.3%) $501,912 (9.7%) 1.05 301
2023-08-01 $433,900 (17.3%) $482,364 (9.6%) 1.00 344
2023-09-01 $425,450 (15.0%) $467,465 (5.3%) 0.99 357
2023-10-01 $410,450 (10.2%) $466,402 (6.7%) 0.97 361
2023-11-01 $410,450 (11.5%) $466,057 (8.6%) 0.98 342
2023-12-01 $414,900 (5.7%) $466,648 (8.3%) 0.00 332
Bismarck's median listing price for 2023-12-01 was $414,900, a difference of $22,450 (5.7%) versus the prior year and $4,450 versus the prior month.

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

Bismarck's average listing price for 2023-12-01 was $466,648, a difference of $35,933 (8.3%) versus the prior year and $591 versus the prior month.

For the 2023-12-01 period, Bismarck had 332 MLS listings, a difference of -10 listings (-3%) versus the prior month and 57 listings (21%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bismarck (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 94 days 1,934 sqft
2018-02-01 83 days 1,964 sqft
2018-03-01 59 days 1,990 sqft
2018-04-01 58 days 2,019 sqft
2018-05-01 53 days 2,034 sqft
2018-06-01 56 days 2,077 sqft
2018-07-01 65 days 2,093 sqft
2018-08-01 65 days 2,085 sqft
2018-09-01 68 days 1,522 sqft
2018-10-01 77 days 2,136 sqft
2018-11-01 79 days 2,104 sqft
2018-12-01 87 days 2,109 sqft
2019-01-01 91 days 2,062 sqft
2019-02-01 96 days 2,042 sqft
2019-03-01 91 days 2,044 sqft
2019-04-01 77 days 2,046 sqft
2019-05-01 55 days 2,044 sqft
2019-06-01 53 days 2,064 sqft
2019-07-01 59 days 2,061 sqft
2019-08-01 63 days 2,048 sqft
2019-09-01 69 days 2,033 sqft
2019-10-01 76 days 2,021 sqft
2019-11-01 85 days 2,004 sqft
2019-12-01 96 days 2,000 sqft
2020-01-01 94 days 2,003 sqft
2020-02-01 95 days 2,012 sqft
2020-03-01 63 days 2,072 sqft
2020-04-01 61 days 2,096 sqft
2020-05-01 61 days 2,086 sqft
2020-06-01 51 days 2,034 sqft
2020-07-01 54 days 2,021 sqft
2020-08-01 51 days 2,036 sqft
2020-09-01 51 days 2,111 sqft
2020-10-01 60 days 2,007 sqft
2020-11-01 67 days 1,954 sqft
2020-12-01 71 days 1,948 sqft
2021-01-01 79 days 1,801 sqft
2021-02-01 74 days 1,805 sqft
2021-03-01 61 days 1,866 sqft
2021-04-01 36 days 1,895 sqft
2021-05-01 35 days 2,050 sqft
2021-06-01 31 days 2,069 sqft
2021-07-01 34 days 1,913 sqft
2021-08-01 43 days 2,017 sqft
2021-09-01 47 days 2,061 sqft
2021-10-01 44 days 2,080 sqft
2021-11-01 50 days 1,979 sqft
2021-12-01 55 days 1,926 sqft
2022-01-01 68 days 1,980 sqft
2022-02-01 60 days 2,015 sqft
2022-03-01 33 days 1,960 sqft
2022-04-01 37 days 2,047 sqft
2022-05-01 39 days 2,192 sqft
2022-06-01 35 days 2,197 sqft
2022-07-01 34 days 2,121 sqft
2022-08-01 40 days 2,125 sqft
2022-09-01 46 days 2,165 sqft
2022-10-01 46 days 2,143 sqft
2022-11-01 51 days 2,122 sqft
2022-12-01 65 days 2,080 sqft
2023-01-01 82 days 2,085 sqft
2023-02-01 78 days 2,094 sqft
2023-03-01 55 days 2,078 sqft
2023-04-01 52 days 2,058 sqft
2023-05-01 36 days 2,195 sqft
2023-06-01 34 days 2,321 sqft
2023-07-01 44 days 2,326 sqft
2023-08-01 51 days 2,294 sqft
2023-09-01 52 days 2,151 sqft
2023-10-01 49 days 2,169 sqft
2023-11-01 53 days 2,084 sqft
2023-12-01 0 days 2,058 sqft
Bismarck's median listing age (time on market) for 2023-12-01 was 0 days. This is -100% shorter than the same period one year ago.

Bismarck's median square footage for active listings during the 2023-12-01 period was 2,058 sqft. One year prior, the average listing was 2,080 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.