Des Moines VA Loan Rates, Closing Costs & Stats
DES MOINES-WEST DES MOINES, 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.
Des Moines's 112 lenders originated 2,388 VA loans during 2021. The total origination value was $609,290,000, with an average VA loan value of $255,147.
Des Moines VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Des Moines
averaged
5.96%
for the week of 2023-01-27, compared to the national average (all VA variants) of
5.952% for the same period.
Des Moines's average VA mortgage closing costs are $4,587.
The average rate for the prior week (2023-01-20) was
5.9% and
one month ago for the week of 2022-12-23, the
average rate was 6.57%.
The average rate one year ago was 3.86%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.85%.
Des Moines 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 Des Moines level.
The top Des Moines VA lender as defined by loan originations is Mortgage Research Center, LLC, with
232 VA loans originated. Their average total fees are
$4,779, which is $1,083
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Des Moines VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($2,159), FREEDOM MORTGAGE CORPORATION ($2,449), HOME POINT FINANCIAL CORPORATION ($2,677), VILLAGE CAPITAL MORTGAGE ($2,950) and UNITED WHOLESALE MORTGAGE, LLC ($2,987).
The lowest rate Des Moines VA lenders (with over 10 loans originated) are
VERIDIAN CREDIT UNION (2.27%), NP, Inc. (2.33%), Low VA Rates, LLC (2.36%), Fidelity Bank (2.38%) and HOME POINT FINANCIAL CORPORATION (2.43%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Des Moines (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $281,250 (6.0%) | $296,297 (-0.3%) | 1.04 | 2,919 |
2018-02-01 | $289,178 (5.7%) | $306,338 (-0.4%) | 1.05 | 2,845 |
2018-03-01 | $289,500 (5.1%) | $310,723 (0.0%) | 1.02 | 2,833 |
2018-04-01 | $292,416 (3.7%) | $317,787 (0.0%) | 0.99 | 2,836 |
2018-05-01 | $291,225 (2.0%) | $321,301 (0.7%) | 0.97 | 2,906 |
2018-06-01 | $289,900 (3.6%) | $317,875 (2.0%) | 0.97 | 3,149 |
2018-07-01 | $289,900 (5.3%) | $316,746 (3.0%) | 0.97 | 3,261 |
2018-08-01 | $283,950 (5.2%) | $313,014 (4.0%) | 0.95 | 3,396 |
2018-09-01 | $279,975 (3.3%) | $308,391 (4.5%) | 0.94 | 3,576 |
2018-10-01 | $281,359 (3.2%) | $308,992 (5.6%) | 0.95 | 3,554 |
2018-11-01 | $281,118 (2.2%) | $307,995 (5.1%) | 0.95 | 3,506 |
2018-12-01 | $279,900 (1.1%) | $303,759 (3.3%) | 0.97 | 3,320 |
2019-01-01 | $283,235 (0.7%) | $306,573 (3.5%) | 0.98 | 3,163 |
2019-02-01 | $287,400 (-0.6%) | $310,791 (1.5%) | 0.97 | 3,073 |
2019-03-01 | $288,862 (-0.2%) | $314,410 (1.2%) | 0.94 | 3,006 |
2019-04-01 | $288,762 (-1.3%) | $317,580 (-0.1%) | 0.92 | 3,015 |
2019-05-01 | $283,210 (-2.8%) | $318,434 (-0.9%) | 0.89 | 3,146 |
2019-06-01 | $279,900 (-3.5%) | $317,167 (-0.2%) | 0.87 | 3,291 |
2019-07-01 | $277,200 (-4.4%) | $314,686 (-0.7%) | 0.87 | 3,415 |
2019-08-01 | $271,796 (-4.3%) | $310,798 (-0.7%) | 0.86 | 3,542 |
2019-09-01 | $264,141 (-5.7%) | $303,706 (-1.5%) | 0.85 | 3,675 |
2019-10-01 | $259,894 (-7.6%) | $299,405 (-3.1%) | 0.84 | 3,739 |
2019-11-01 | $255,000 (-9.3%) | $296,103 (-3.9%) | 0.84 | 3,509 |
2019-12-01 | $255,000 (-8.9%) | $294,537 (-3.0%) | 0.85 | 3,326 |
2020-01-01 | $258,900 (-8.6%) | $294,735 (-3.9%) | 0.87 | 3,152 |
2020-02-01 | $264,900 (-7.8%) | $301,293 (-3.1%) | 0.87 | 3,038 |
2020-03-01 | $268,393 (-7.1%) | $307,214 (-2.3%) | 0.84 | 3,036 |
2020-04-01 | $268,404 (-7.1%) | $306,888 (-3.4%) | 0.84 | 3,077 |
2020-05-01 | $274,650 (-3.0%) | $315,168 (-1.0%) | 0.83 | 2,891 |
2020-06-01 | $277,776 (-0.8%) | $324,078 (2.2%) | 0.82 | 2,628 |
2020-07-01 | $274,808 (-0.9%) | $325,228 (3.4%) | 0.80 | 2,476 |
2020-08-01 | $272,800 (0.4%) | $321,923 (3.6%) | 0.78 | 2,439 |
2020-09-01 | $271,197 (2.7%) | $317,137 (4.4%) | 0.78 | 2,370 |
2020-10-01 | $270,500 (4.1%) | $315,762 (5.5%) | 0.78 | 2,369 |
2020-11-01 | $270,000 (5.9%) | $313,208 (5.8%) | 0.79 | 2,315 |
2020-12-01 | $272,481 (6.9%) | $316,592 (7.5%) | 0.81 | 2,116 |
2021-01-01 | $275,000 (6.2%) | $324,926 (10.2%) | 0.82 | 1,815 |
2021-02-01 | $280,448 (5.9%) | $332,584 (10.4%) | 0.82 | 1,656 |
2021-03-01 | $285,000 (6.2%) | $337,525 (9.9%) | 0.81 | 1,512 |
2021-04-01 | $298,382 (11.2%) | $350,671 (14.3%) | 0.81 | 1,454 |
2021-05-01 | $299,475 (9.0%) | $357,617 (13.5%) | 0.79 | 1,460 |
2021-06-01 | $302,400 (8.9%) | $356,742 (10.1%) | 0.80 | 1,566 |
2021-07-01 | $304,925 (11.0%) | $350,195 (7.7%) | 0.80 | 1,603 |
2021-08-01 | $302,072 (10.7%) | $354,169 (10.0%) | 0.81 | 1,757 |
2021-09-01 | $302,425 (11.5%) | $356,714 (12.5%) | 0.81 | 1,789 |
2021-10-01 | $303,275 (12.1%) | $355,533 (12.6%) | 0.81 | 1,810 |
2021-11-01 | $308,901 (14.4%) | $357,293 (14.1%) | 0.82 | 1,820 |
2021-12-01 | $313,215 (15.0%) | $354,769 (12.1%) | 0.85 | 1,729 |
2022-01-01 | $326,153 (18.6%) | $365,405 (12.5%) | 0.88 | 1,470 |
2022-02-01 | $349,900 (24.8%) | $387,082 (16.4%) | 0.91 | 1,299 |
2022-03-01 | $351,000 (23.2%) | $391,758 (16.1%) | 0.88 | 1,306 |
2022-04-01 | $359,900 (20.6%) | $398,612 (13.7%) | 0.86 | 1,350 |
2022-05-01 | $354,950 (18.5%) | $402,124 (12.5%) | 0.81 | 1,534 |
2022-06-01 | $356,675 (18.0%) | $406,869 (14.1%) | 0.79 | 1,696 |
2022-07-01 | $350,000 (14.8%) | $400,977 (14.5%) | 0.79 | 2,000 |
2022-08-01 | $350,500 (16.0%) | $405,695 (14.6%) | 0.81 | 2,102 |
2022-09-01 | $355,625 (17.6%) | $409,092 (14.7%) | 0.83 | 2,221 |
2022-10-01 | $350,000 (15.4%) | $404,387 (13.7%) | 0.82 | 2,436 |
2022-11-01 | $349,900 (13.3%) | $399,190 (11.7%) | 0.84 | 2,523 |
2022-12-01 | $348,000 (11.1%) | $400,572 (12.9%) | 0.87 | 2,328 |
Des Moines's median listing price comes in at 87% of the national average.
Des Moines's average listing price for 2022-12-01 was $400,572, a difference of $45,803 (12.9%) versus the prior year and $1,382 versus the prior month.
For the 2022-12-01 period, Des Moines had 2,328 MLS listings, a difference of -195 listings (-8%) versus the prior month and 599 listings (35%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Des Moines (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 98 days | 1,619 sqft |
2018-02-01 | 96 days | 1,627 sqft |
2018-03-01 | 87 days | 1,630 sqft |
2018-04-01 | 73 days | 1,634 sqft |
2018-05-01 | 63 days | 1,642 sqft |
2018-06-01 | 61 days | 1,633 sqft |
2018-07-01 | 61 days | 1,632 sqft |
2018-08-01 | 66 days | 1,620 sqft |
2018-09-01 | 68 days | 1,610 sqft |
2018-10-01 | 73 days | 1,608 sqft |
2018-11-01 | 82 days | 1,607 sqft |
2018-12-01 | 94 days | 1,596 sqft |
2019-01-01 | 98 days | 1,589 sqft |
2019-02-01 | 101 days | 1,596 sqft |
2019-03-01 | 89 days | 1,599 sqft |
2019-04-01 | 71 days | 1,602 sqft |
2019-05-01 | 57 days | 1,606 sqft |
2019-06-01 | 58 days | 1,610 sqft |
2019-07-01 | 63 days | 1,600 sqft |
2019-08-01 | 66 days | 1,587 sqft |
2019-09-01 | 66 days | 1,568 sqft |
2019-10-01 | 67 days | 1,556 sqft |
2019-11-01 | 68 days | 1,544 sqft |
2019-12-01 | 79 days | 1,538 sqft |
2020-01-01 | 87 days | 1,528 sqft |
2020-02-01 | 90 days | 1,546 sqft |
2020-03-01 | 72 days | 1,563 sqft |
2020-04-01 | 66 days | 1,557 sqft |
2020-05-01 | 66 days | 1,579 sqft |
2020-06-01 | 66 days | 1,596 sqft |
2020-07-01 | 61 days | 1,595 sqft |
2020-08-01 | 58 days | 1,575 sqft |
2020-09-01 | 63 days | 1,552 sqft |
2020-10-01 | 61 days | 1,533 sqft |
2020-11-01 | 66 days | 1,520 sqft |
2020-12-01 | 72 days | 1,516 sqft |
2021-01-01 | 79 days | 1,512 sqft |
2021-02-01 | 77 days | 1,509 sqft |
2021-03-01 | 59 days | 1,515 sqft |
2021-04-01 | 51 days | 1,519 sqft |
2021-05-01 | 45 days | 1,519 sqft |
2021-06-01 | 51 days | 1,522 sqft |
2021-07-01 | 53 days | 1,516 sqft |
2021-08-01 | 53 days | 1,512 sqft |
2021-09-01 | 52 days | 1,503 sqft |
2021-10-01 | 57 days | 1,498 sqft |
2021-11-01 | 60 days | 1,494 sqft |
2021-12-01 | 63 days | 1,494 sqft |
2022-01-01 | 82 days | 1,501 sqft |
2022-02-01 | 77 days | 1,511 sqft |
2022-03-01 | 52 days | 1,514 sqft |
2022-04-01 | 50 days | 1,534 sqft |
2022-05-01 | 46 days | 1,534 sqft |
2022-06-01 | 47 days | 1,545 sqft |
2022-07-01 | 49 days | 1,540 sqft |
2022-08-01 | 53 days | 1,554 sqft |
2022-09-01 | 57 days | 1,551 sqft |
2022-10-01 | 59 days | 1,540 sqft |
2022-11-01 | 64 days | 1,548 sqft |
2022-12-01 | 74 days | 1,554 sqft |
Des Moines's median square footage for active listings during the 2022-12-01 period was 1,554 sqft. One year prior, the average listing was 1,494 sqft.