Des Moines VA Loan Rates, Closing Costs & Stats

DES MOINES-WEST DES MOINES, IA

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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.

    Des Moines's 84 lenders originated 1,038 VA loans during 2024. The total origination value was $334,320,000, with an average VA loan value of $322,081.

    Des Moines VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Des Moines averaged 0.04% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Des Moines's average VA mortgage closing costs are $5,325.

    The average rate for the prior week (2025-06-13) was 6.59% and one month ago for the week of 2025-05-16, the average rate was 6.55%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.07%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 149 6.31% $4,691
    UNITED WHOLESALE MORTGAGE, LLC 60 5.80% $6,769
    GERSHMAN INVESTMENT CORP. 55 5.95% $5,656
    GREENSTATE CREDIT UNION 52 5.75% $5,729
    HOMESERVICES LENDING, LLC 51 5.99% $6,283
    DHI MORTGAGE COMPANY, LTD. 44 5.30% $8,874
    FREEDOM MORTGAGE CORPORATION 43 6.39% $7,693
    QUICKEN LOANS, LLC 35 6.12% $9,306
    BROKER SOLUTIONS, INC. 33 6.48% $6,691
    NEWREZ LLC 33 6.09% $6,794
    PENNYMAC LOAN SERVICES, LLC 29 5.53% $7,452
    VERIDIAN CREDIT UNION 28 5.74% $7,205
    NEW DAY FINANCIAL, LLC 26 7.29% $9,119
    Barrington Bank & Trust Company, N.A. 23 6.30% $4,974
    Community Choice Credit Union 22 5.84% $3,783
    U.S. Bank 20 5.78% $5,062
    NAVY FEDERAL CREDIT UNION 18 5.93% $4,177
    GUILD MORTGAGE COMPANY 15 6.32% $9,073
    VILLAGE CAPITAL MORTGAGE 15 5.82% $5,911
    USAA Federal Savings Bank 12 6.23% $6,970
    MOVEMENT MORTGAGE, LLC 10 6.43% $8,841
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 6.29% $11,458
    GUARANTEED RATE, INC. 10 5.94% $6,282
    CMG MORTGAGE, INC. 10 6.40% $9,588
    LOANDEPOT.COM, LLC 9 6.50% $8,892
    PLANET HOME LENDING, LLC 9 6.04% $7,851
    Fortress Bank 9 6.51% $6,183
    Northwest Bank 8 6.27% $10,889
    FIRST COMMUNITY MORTGAGE, INC. 8 6.26% $5,712
    LAND HOME FINANCIAL SERVICES, INC. 8 6.13% $7,258
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.25% $10,915
    HOMESIDE FINANCIAL, LLC 6 7.08% $11,003
    COMPASS MORTGAGE, INC. 6 6.10% $7,399
    Servion, Inc. 6 6.35% $5,524
    The Federal Savings Bank 6 5.83% $14,377
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.30% $8,100
    Plains Commerce Bank 5 6.43% $7,233
    IOWA BANKERS MORTGAGE CORPORATION 5 6.23% $2,477
    ENVOY MORTGAGE, LTD 4 6.16% $4,564
    FRONTIER FINANCIAL, INC. 4 6.31% $6,525
    Lincoln Savings Bank 4 6.03% $10,218
    STOCKTON MORTGAGE CORPORATION 4 6.94% $7,427
    The Central Trust Bank 4 6.72% $9,448
    Wells Fargo Bank 4 6.25% $6,987
    Mr. Cooper ( Nationstar Mortgage ) 3 6.29% $6,329
    Flagstar Bank, FSB 2 7.19% $4,697
    Sierra Pacific Mortgage Company, Inc. 2 6.69% $7,918
    Carrington Mortgage Services, LLC 2 6.63% $9,401
    West Gate Bank 2 6.25% $5,243
    PLAZA HOME MORTGAGE, INC. 2 6.00% $13,767
    The Loan Store, Inc. 2 6.12% $6,921
    MID AMERICA MORTGAGE, INC. 2 6.63% $2,576
    AMERISAVE MORTGAGE CORPORATION 2 5.25% $14,197
    CARDINAL FINANCIAL 2 6.63% $5,377
    Magnolia Bank 2 6.69% $13,528
    LAKEVIEW LOAN SERVICING, LLC 2 5.94% $7,625
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.38% $2,260
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 8.13% $6,574
    Central Bank 1 5.75% $2,366
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $4,280
    Regions Bank 1 7.00% $10,177
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 5.75% $17,863
    RUHL MORTGAGE, LLC 1 5.75% $2,851
    BAY EQUITY LLC 1 5.99% $5,864
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $15,631
    Armed Forces Bank 1 6.00% $2,230
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $8,008
    AmeriHome Mortgage Company, LLC 1 5.99% $1,490
    Ixonia Bank 1 6.13% $13,691
    Great Southern Bank 1 6.63% $5,013
    American Mortgage & Equity Consultants, Inc. 1 6.63% $7,702
    MORTGAGEONE, INC. 1 6.63% $3,250
    GENEVA FINANCIAL, LLC 1 7.13% $1,101
    Flanagan State Bank 1 5.75% $1,816
    M&T Bank 1 6.25% $5,207
    First Federal Bank 1 6.00% $1,884
    NBKC BANK 1 5.50% $1,919
    Equity Prime Mortgage LLC 1 7.75% $3,788
    Academy Bank 1 6.13% $12,817
    Encompass Lending Group, LP 1 7.13% $6,821
    OCMBC, INC. 1 5.63% $1,631
    OPEN MORTGAGE, LLC 1 8.13% $7,194
    Paramount Residential Mortgage Group, Inc. 1 6.25% $12,550
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $11,018

    The top Des Moines VA lender as defined by loan originations is Mortgage Research Center, LLC, with 149 VA loans originated. Their average total fees are $4,691, which is $2,078 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Des Moines VA lenders (with over 10 loans originated) are Community Choice Credit Union ($3,783), NAVY FEDERAL CREDIT UNION ($4,177), Mortgage Research Center, LLC ($4,691), Barrington Bank & Trust Company, N.A. ($4,974) and U.S. Bank ($5,062).

    The lowest rate Des Moines VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), PENNYMAC LOAN SERVICES, LLC (5.53%), VERIDIAN CREDIT UNION (5.74%), GREENSTATE CREDIT UNION (5.75%) and U.S. Bank (5.78%).

    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.