Cape Girardeau VA Loan Rates, Closing Costs & Stats

CAPE GIRARDEAU, MO-IL

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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.

    Cape Girardeau's 31 lenders originated 116 VA loans during 2023. The total origination value was $28,650,000, with an average VA loan value of $246,983.

    Cape Girardeau VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cape Girardeau averaged 6.95% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Cape Girardeau's average VA mortgage closing costs are $4,431.

    The average rate for the prior week (2024-04-12) was 6.68% and one month ago for the week of 2024-03-15, the average rate was 6.95%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

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

    Cape Girardeau 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 Cape Girardeau level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 42 6.78% $5,330
    DAS Acquisition Company, LLC 10 7.34% $3,668
    FLAT BRANCH MORTGAGE, INC. 7 6.93% $4,646
    NAVY FEDERAL CREDIT UNION 7 5.73% $4,513
    UNITED WHOLESALE MORTGAGE, LLC 6 6.69% $11,788
    USAA Federal Savings Bank 5 6.60% $4,671
    GUARANTEED RATE, INC. 3 6.67% $2,076
    Midwest Mortgage Associates Corporation 3 6.00% $3,769
    FREEDOM MORTGAGE CORPORATION 3 6.00% $13,268
    VILLAGE CAPITAL MORTGAGE 2 6.63% $5,857
    BROKER SOLUTIONS, INC. 2 6.69% $8,931
    Equity Prime Mortgage LLC 2 7.50% $1,499
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $0
    NEW DAY FINANCIAL, LLC 2 7.24% $5,566
    NP, Inc. 2 7.19% $3,996
    U.S. Bank 2 6.75% $3,004
    ENDEAVOR CAPITAL, LLC. 1 6.25% $4,424
    MOVEMENT MORTGAGE, LLC 1 6.75% $3,129
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $8,667
    FIDELITY BANK 1 6.63% $3,685
    Citizens Bank 1 6.25% $2,808
    Barrington Bank & Trust Company, N.A. 1 5.00% $9,599
    PENNYMAC LOAN SERVICES, LLC 1 5.00% $4,933
    PENTAGON FEDERAL CREDIT UNION 1 6.75% $16,931
    PLANET HOME LENDING, LLC 1 7.25% $2,546
    QUICKEN LOANS, LLC 1 5.88% $11,320
    The Federal Savings Bank 1 7.25% $8,158
    GERSHMAN INVESTMENT CORP. 1 7.13% $1,289
    Magnolia Bank 1 6.75% $9,082
    GENEVA FINANCIAL, LLC 1 7.50% $4,590
    Gateway First Bank 1 7.75% $3,534

    The top Cape Girardeau VA lender as defined by loan originations is Mortgage Research Center, LLC, with 42 VA loans originated. Their average total fees are $5,330, which is $1,661 higher than the next largest lender, DAS Acquisition Company, LLC.

    The lowest fee Cape Girardeau VA lenders (with over 10 loans originated) are DAS Acquisition Company, LLC ($3,668), Mortgage Research Center, LLC ($5,330), .

    The lowest rate Cape Girardeau VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.78%), DAS Acquisition Company, LLC (7.34%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cape Girardeau (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 $160,000 (0.7%) $229,781 (4.3%) 0.00 417
    2018-02-01 $164,950 (3.2%) $231,423 (6.5%) 0.00 418
    2018-03-01 $164,900 (3.4%) $230,298 (1.4%) 0.00 410
    2018-04-01 $164,400 (2.8%) $234,012 (0.3%) 0.00 410
    2018-05-01 $169,575 (4.1%) $242,694 (-3.3%) 0.00 406
    2018-06-01 $175,500 (4.8%) $251,122 (-0.7%) 0.00 421
    2018-07-01 $175,000 (3.9%) $254,061 (-0.7%) 0.00 454
    2018-08-01 $175,000 (9.4%) $249,647 (1.3%) 0.00 456
    2018-09-01 $169,900 (9.6%) $247,071 (4.0%) 0.00 428
    2018-10-01 $175,225 (16.9%) $253,670 (10.1%) 0.00 431
    2018-11-01 $177,125 (18.1%) $256,025 (17.3%) 0.00 430
    2018-12-01 $174,900 (9.5%) $248,984 (12.0%) 0.00 395
    2019-01-01 $169,900 (6.2%) $245,555 (6.9%) 0.00 384
    2019-02-01 $168,000 (1.9%) $243,760 (5.3%) 0.00 363
    2019-03-01 $168,529 (2.2%) $252,647 (9.7%) 0.00 358
    2019-04-01 $173,400 (5.5%) $259,016 (10.7%) 0.00 344
    2019-05-01 $189,900 (12.0%) $271,107 (11.7%) 0.00 353
    2019-06-01 $190,000 (8.3%) $274,076 (9.1%) 0.00 373
    2019-07-01 $189,500 (8.3%) $278,855 (9.8%) 0.00 364
    2019-08-01 $191,973 (9.7%) $277,941 (11.3%) 0.00 365
    2019-09-01 $196,432 (15.6%) $276,916 (12.1%) 0.00 367
    2019-10-01 $197,805 (12.9%) $273,794 (7.9%) 0.00 369
    2019-11-01 $189,900 (7.2%) $265,470 (3.7%) 0.00 365
    2019-12-01 $177,425 (1.4%) $253,200 (1.7%) 0.00 373
    2020-01-01 $169,900 (0.0%) $266,009 (8.3%) 0.00 346
    2020-02-01 $179,900 (7.1%) $274,441 (12.6%) 0.00 328
    2020-03-01 $170,425 (1.1%) $261,498 (3.5%) 0.00 320
    2020-04-01 $169,900 (-2.0%) $264,470 (2.1%) 0.00 317
    2020-05-01 $189,900 (0.0%) $287,353 (6.0%) 0.00 282
    2020-06-01 $196,700 (3.5%) $296,600 (8.2%) 0.00 268
    2020-07-01 $193,350 (2.0%) $285,378 (2.3%) 0.00 286
    2020-08-01 $179,700 (-6.4%) $278,894 (0.3%) 0.00 250
    2020-09-01 $169,700 (-13.6%) $276,197 (-0.3%) 0.00 246
    2020-10-01 $169,900 (-14.1%) $273,219 (-0.2%) 0.00 239
    2020-11-01 $154,900 (-18.4%) $251,323 (-5.3%) 0.00 232
    2020-12-01 $160,900 (-9.3%) $257,175 (1.6%) 0.00 209
    2021-01-01 $165,900 (-2.4%) $275,648 (3.6%) 0.00 178
    2021-02-01 $162,400 (-9.7%) $284,286 (3.6%) 0.00 142
    2021-03-01 $176,200 (3.4%) $314,207 (20.2%) 0.00 124
    2021-04-01 $181,400 (6.8%) $317,751 (20.2%) 0.00 130
    2021-05-01 $199,450 (5.0%) $352,473 (22.7%) 0.00 118
    2021-06-01 $202,425 (2.9%) $355,900 (20.0%) 0.00 118
    2021-07-01 $227,450 (17.6%) $347,114 (21.6%) 0.00 122
    2021-08-01 $227,875 (26.8%) $343,516 (23.2%) 0.00 123
    2021-09-01 $236,125 (39.1%) $340,910 (23.4%) 0.00 138
    2021-10-01 $234,900 (38.3%) $345,041 (26.3%) 0.00 144
    2021-11-01 $223,500 (44.3%) $344,369 (37.0%) 0.00 141
    2021-12-01 $237,225 (47.4%) $371,005 (44.3%) 0.00 107
    2022-01-01 $206,900 (24.7%) $306,468 (11.2%) 0.00 118
    2022-02-01 $172,400 (6.2%) $279,100 (-1.8%) 0.00 123
    2022-03-01 $181,450 (3.0%) $271,982 (-13.4%) 0.00 118
    2022-04-01 $205,000 (13.0%) $287,375 (-9.6%) 0.00 113
    2022-05-01 $228,725 (14.7%) $306,434 (-13.1%) 0.00 130
    2022-06-01 $238,950 (18.0%) $327,415 (-8.0%) 0.00 146
    2022-07-01 $249,900 (9.9%) $340,755 (-1.8%) 0.00 153
    2022-08-01 $275,000 (20.7%) $353,686 (3.0%) 0.00 146
    2022-09-01 $276,000 (16.9%) $348,632 (2.3%) 0.00 141
    2022-10-01 $269,750 (14.8%) $338,748 (-1.8%) 0.00 170
    2022-11-01 $272,475 (21.9%) $345,769 (0.4%) 0.00 178
    2022-12-01 $275,000 (15.9%) $338,826 (-8.7%) 0.00 186
    2023-01-01 $275,000 (32.9%) $325,982 (6.4%) 0.00 172
    2023-02-01 $249,925 (45.0%) $317,567 (13.8%) 0.00 152
    2023-03-01 $286,200 (57.7%) $332,330 (22.2%) 0.00 156
    2023-04-01 $272,400 (32.9%) $328,881 (14.4%) 0.00 166
    2023-05-01 $289,675 (26.7%) $335,583 (9.5%) 0.00 142
    2023-06-01 $250,000 (4.6%) $319,175 (-2.5%) 0.00 157
    2023-07-01 $269,450 (7.8%) $333,570 (-2.1%) 0.00 174
    2023-08-01 $278,750 (1.4%) $330,733 (-6.5%) 0.00 187
    2023-09-01 $265,950 (-3.6%) $329,177 (-5.6%) 0.00 190
    2023-10-01 $261,175 (-3.2%) $335,154 (-1.1%) 0.00 180
    2023-11-01 $262,475 (-3.7%) $332,800 (-3.8%) 0.00 184
    2023-12-01 $259,900 (-5.5%) $334,287 (-1.3%) 0.00 181
    2024-01-01 $274,900 (0.0%) $334,759 (2.7%) 0.00 183
    2024-02-01 $292,000 (16.8%) $342,205 (7.8%) 0.00 168
    2024-03-01 $269,900 (-5.7%) $326,706 (-1.7%) 0.00 162
    Cape Girardeau's median listing price for 2024-03-01 was $269,900, a difference of $-16,300 (-5.7%) versus the prior year and $-22,100 versus the prior month.

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

    Cape Girardeau's average listing price for 2024-03-01 was $326,706, a difference of $-5,624 (-1.7%) versus the prior year and $-15,499 versus the prior month.

    For the 2024-03-01 period, Cape Girardeau had 162 MLS listings, a difference of -6 listings (-4%) versus the prior month and 6 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cape Girardeau (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,543 sqft
    2018-02-01 0 days 1,608 sqft
    2018-03-01 0 days 1,536 sqft
    2018-04-01 0 days 1,543 sqft
    2018-05-01 0 days 1,551 sqft
    2018-06-01 0 days 1,606 sqft
    2018-07-01 0 days 1,609 sqft
    2018-08-01 0 days 1,605 sqft
    2018-09-01 0 days 1,569 sqft
    2018-10-01 0 days 1,570 sqft
    2018-11-01 0 days 1,596 sqft
    2018-12-01 0 days 1,570 sqft
    2019-01-01 0 days 1,569 sqft
    2019-02-01 0 days 1,583 sqft
    2019-03-01 0 days 1,567 sqft
    2019-04-01 0 days 1,586 sqft
    2019-05-01 0 days 1,625 sqft
    2019-06-01 0 days 1,610 sqft
    2019-07-01 0 days 1,615 sqft
    2019-08-01 0 days 1,632 sqft
    2019-09-01 0 days 1,650 sqft
    2019-10-01 0 days 1,656 sqft
    2019-11-01 0 days 1,639 sqft
    2019-12-01 0 days 1,604 sqft
    2020-01-01 0 days 1,554 sqft
    2020-02-01 0 days 1,636 sqft
    2020-03-01 0 days 1,783 sqft
    2020-04-01 0 days 1,791 sqft
    2020-05-01 0 days 1,900 sqft
    2020-06-01 0 days 1,978 sqft
    2020-07-01 0 days 1,955 sqft
    2020-08-01 0 days 1,863 sqft
    2020-09-01 0 days 1,798 sqft
    2020-10-01 0 days 1,882 sqft
    2020-11-01 0 days 1,841 sqft
    2020-12-01 0 days 1,707 sqft
    2021-01-01 0 days 1,750 sqft
    2021-02-01 0 days 1,767 sqft
    2021-03-01 0 days 1,702 sqft
    2021-04-01 0 days 1,740 sqft
    2021-05-01 0 days 1,902 sqft
    2021-06-01 0 days 2,006 sqft
    2021-07-01 0 days 2,080 sqft
    2021-08-01 0 days 2,042 sqft
    2021-09-01 0 days 2,002 sqft
    2021-10-01 0 days 1,943 sqft
    2021-11-01 0 days 1,861 sqft
    2021-12-01 0 days 1,787 sqft
    2022-01-01 0 days 1,700 sqft
    2022-02-01 0 days 1,625 sqft
    2022-03-01 0 days 1,657 sqft
    2022-04-01 0 days 1,728 sqft
    2022-05-01 0 days 1,778 sqft
    2022-06-01 0 days 1,846 sqft
    2022-07-01 0 days 1,907 sqft
    2022-08-01 0 days 2,012 sqft
    2022-09-01 0 days 1,978 sqft
    2022-10-01 0 days 1,904 sqft
    2022-11-01 0 days 1,853 sqft
    2022-12-01 0 days 1,792 sqft
    2023-01-01 0 days 1,759 sqft
    2023-02-01 0 days 1,730 sqft
    2023-03-01 0 days 1,805 sqft
    2023-04-01 0 days 1,835 sqft
    2023-05-01 0 days 1,894 sqft
    2023-06-01 0 days 1,909 sqft
    2023-07-01 0 days 1,885 sqft
    2023-08-01 0 days 1,860 sqft
    2023-09-01 0 days 1,835 sqft
    2023-10-01 0 days 1,833 sqft
    2023-11-01 0 days 1,796 sqft
    2023-12-01 0 days 1,756 sqft
    2024-01-01 0 days 1,761 sqft
    2024-02-01 0 days 1,786 sqft
    2024-03-01 0 days 1,850 sqft
    Cape Girardeau's median listing age (time on market) for 2024-03-01 was 0 days.

    Cape Girardeau's median square footage for active listings during the 2024-03-01 period was 1,850 sqft. One year prior, the average listing was 1,805 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.