Duluth VA Loan Rates, Closing Costs & Stats

DULUTH, MN-WI

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.

Duluth's 95 lenders originated 920 VA loans during 2021. The total origination value was $205,280,000, with an average VA loan value of $223,130.

Duluth VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Duluth averaged 6.5% for the week of 2023-01-27, compared to the national average (all VA variants) of 5.952% for the same period.

Duluth's average VA mortgage closing costs are $4,659.

The average rate for the prior week (2023-01-20) was 6.24% and one month ago for the week of 2022-12-23, the average rate was 6.41%.

The average rate one year ago was 4.1%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.3%.

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

Duluth 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 Duluth level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 98 2.51% $4,537
Mortgage Research Center, LLC 84 2.90% $5,561
North Shore Bank of Commerce 61 2.80% $5,242
FREEDOM MORTGAGE CORPORATION 51 2.56% $1,927
USAA Federal Savings Bank 32 2.82% $4,085
PENNYMAC LOAN SERVICES, LLC 28 2.38% $4,850
NEW DAY FINANCIAL, LLC 27 2.87% $5,641
HANCOCK MORTGAGE PARTNERS, LLC 25 3.29% $5,680
NAVY FEDERAL CREDIT UNION 21 2.56% $4,232
Wells Fargo Bank 20 2.54% $3,477
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 3.08% $5,714
VILLAGE CAPITAL MORTGAGE 17 2.44% $2,444
Mr. Cooper ( Nationstar Mortgage ) 17 2.73% $4,749
Servion, Inc. 17 2.83% $4,969
RESULTS MORTGAGE, LLC 16 2.65% $6,291
GUILD MORTGAGE COMPANY 16 2.62% $4,931
UNITED WHOLESALE MORTGAGE, LLC 16 2.50% $5,073
LOANDEPOT.COM, LLC 13 2.52% $2,839
CALIBER HOME LOANS, INC. 13 2.51% $2,073
LAKEVIEW LOAN SERVICING, LLC 12 2.57% $1,941
The Federal Savings Bank 12 2.56% $5,349
Lend Smart Mortgage, LLC 11 2.91% $6,112
Low VA Rates, LLC 11 2.35% $5,346
U.S. Bank 9 2.71% $4,657
Regent Financial Group, Inc. 8 2.73% $5,948
MID AMERICA MORTGAGE, INC. 8 2.50% $2,665
BAY EQUITY LLC 6 2.69% $3,745
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.39% $6,035
SOVEREIGN LENDING GROUP INCORPORATED 5 2.67% $2,898
NEWREZ LLC 5 2.57% $4,660
HOME POINT FINANCIAL CORPORATION 5 2.63% $6,154
CRESCENT MORTGAGE COMPANY 4 2.56% $4,985
Summit Mortgage Corporation 4 2.78% $5,077
Prosperity Home Mortgage, LLC 4 2.72% $6,611
PLANET HOME LENDING, LLC 4 2.59% $1,658
Barrington Bank & Trust Company, N.A. 4 2.81% $5,279
Bell Bank 4 2.31% $4,084
North American Savings Bank, F.S.B. 3 2.46% $2,256
SUN WEST MORTGAGE COMPANY, INC. 3 2.50% $5,259
GUARANTEED RATE, INC. 3 2.50% $5,712
BROKER SOLUTIONS, INC. 3 2.63% $2,660
TOWNE MORTGAGE COMPANY 3 3.00% $4,586
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.67% $2,829
AMERICAN FINANCIAL NETWORK, INC. 3 2.42% $7,429
Magnolia Bank 3 2.96% $5,844
MANN FINANCIAL INC. 3 2.75% $2,450
First Federal Bank 3 2.75% $5,486
NBKC BANK 3 2.42% $3,265
AMERICAN FINANCING CORPORATION 2 3.00% $3,357
KS StateBank 2 2.50% $7,340
American Mortgage & Equity Consultants, Inc. 2 2.56% $3,454
Flagstar Bank, FSB 2 3.23% $17,397
M&T Bank 2 2.81% $3,714
CROSSCOUNTRY MORTGAGE, LLC 2 2.25% $2,539
Nations Lending Corporation 2 2.56% $4,964
BELEM SERVICING LLC 2 3.50% $6,385
Sierra Pacific Mortgage Company, Inc. 2 2.38% $6,337
ACCELERATE MORTGAGE, LLC 2 2.00% $6,090
PLAZA HOME MORTGAGE, INC. 2 2.50% $6,745
Meridian Bank Corporation 2 2.25% $2,694
AMERISAVE MORTGAGE CORPORATION 2 3.38% $6,485
Wyndham Capital Mortgage, Inc. 1 2.25% $3,810
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.25% $2,346
Bank of England 1 2.50% $1,381
CHERRY CREEK MORTGAGE, LLC 1 3.00% $2,036
CLEARPATH LENDING 1 2.75% $4,573
CMG MORTGAGE, INC. 1 2.63% $15,891
CONTOUR MORTGAGE CORPORATION 1 3.00% $6,060
Equity Prime Mortgage LLC 1 3.25% $5,580
EVERETT FINANCIAL, INC. 1 4.13% $5,521
FBC MORTGAGE, LLC 1 2.25% $4,737
First Guaranty Mortgage Corporation 1 2.38% $2,744
Florida Capital Bank 1 2.25% $2,714
HomePromise Corporation 1 3.13% $16,803
HOMESIDE FINANCIAL, LLC 1 3.00% $999
InterContinental Capital Group, Inc 1 2.25% $3,232
LEADERONE FINANCIAL CORPORATION 1 2.38% $2,914
Mid-Continent Funding, Inc. 1 2.75% $8,567
MORTGAGE ACCESS CORP. 1 2.75% $14,310
MOVEMENT MORTGAGE, LLC 1 3.13% $5,088
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $2,652
NETWORK CAPITAL FUNDING CORPORATION 1 3.63% $6,161
NP, Inc. 1 2.25% $1,379
Paramount Bank 1 2.25% $1,458
PENTAGON FEDERAL CREDIT UNION 1 2.75% $9,481
PHH Mortgage Corporation 1 2.75% $1,859
Plains Commerce Bank 1 2.99% $896
PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.13% $8,693
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.38% $2,913
Sunflower Bank 1 2.25% $9,793
The Huntington National Bank 1 2.63% $14,156
THRIVENT Federal Credit Union 1 3.13% $18,993
TJC Mortgage, Inc. 1 2.25% $3,367
UNION HOME MORTGAGE CORP. 1 2.25% $1,634
Watermark Capital, Inc. 1 2.38% $2,259

The top Duluth VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 98 VA loans originated. Their average total fees are $4,537, which is $1,024 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Duluth VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($1,927), LAKEVIEW LOAN SERVICING, LLC ($1,941), CALIBER HOME LOANS, INC. ($2,073), VILLAGE CAPITAL MORTGAGE ($2,444) and LOANDEPOT.COM, LLC ($2,839).

The lowest rate Duluth VA lenders (with over 10 loans originated) are Low VA Rates, LLC (2.35%), PENNYMAC LOAN SERVICES, LLC (2.38%), VILLAGE CAPITAL MORTGAGE (2.44%), UNITED WHOLESALE MORTGAGE, LLC (2.50%) and QUICKEN LOANS, LLC (2.51%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Duluth (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 $155,667 (4.2%) $242,610 (7.2%) 0.58 1,185
2018-02-01 $159,900 (6.6%) $250,586 (7.2%) 0.58 1,171
2018-03-01 $169,000 (5.7%) $266,988 (11.2%) 0.59 1,210
2018-04-01 $179,075 (8.5%) $273,681 (12.9%) 0.61 1,241
2018-05-01 $184,450 (8.5%) $275,955 (11.0%) 0.62 1,411
2018-06-01 $185,000 (4.8%) $270,920 (8.2%) 0.62 1,673
2018-07-01 $185,000 (5.7%) $270,172 (5.6%) 0.62 1,753
2018-08-01 $185,000 (5.7%) $265,080 (3.9%) 0.62 1,754
2018-09-01 $183,950 (6.2%) $259,278 (3.2%) 0.62 1,719
2018-10-01 $179,975 (5.9%) $259,817 (5.4%) 0.61 1,668
2018-11-01 $179,450 (12.2%) $256,384 (6.3%) 0.61 1,519
2018-12-01 $174,500 (9.8%) $252,648 (4.0%) 0.60 1,315
2019-01-01 $171,225 (10.0%) $267,180 (10.1%) 0.59 1,059
2019-02-01 $170,450 (6.6%) $265,166 (5.8%) 0.58 1,008
2019-03-01 $184,900 (9.4%) $276,051 (3.4%) 0.60 1,050
2019-04-01 $206,950 (15.6%) $286,829 (4.8%) 0.66 1,118
2019-05-01 $200,000 (8.4%) $287,654 (4.2%) 0.63 1,272
2019-06-01 $200,000 (8.1%) $283,268 (4.6%) 0.63 1,460
2019-07-01 $202,400 (9.4%) $285,293 (5.6%) 0.63 1,583
2019-08-01 $197,173 (6.6%) $280,283 (5.7%) 0.62 1,612
2019-09-01 $193,082 (5.0%) $273,270 (5.4%) 0.62 1,586
2019-10-01 $192,905 (7.2%) $268,372 (3.3%) 0.62 1,542
2019-11-01 $189,900 (5.8%) $260,970 (1.8%) 0.62 1,342
2019-12-01 $187,000 (7.2%) $261,610 (3.6%) 0.62 1,116
2020-01-01 $185,000 (8.0%) $267,242 (0.0%) 0.62 922
2020-02-01 $199,900 (17.3%) $286,569 (8.1%) 0.65 875
2020-03-01 $219,250 (18.6%) $305,218 (10.6%) 0.69 892
2020-04-01 $222,450 (7.5%) $304,952 (6.3%) 0.70 938
2020-05-01 $220,000 (10.0%) $299,269 (4.0%) 0.67 1,004
2020-06-01 $229,000 (14.5%) $304,805 (7.6%) 0.67 1,045
2020-07-01 $229,350 (13.3%) $311,347 (9.1%) 0.66 1,027
2020-08-01 $226,900 (15.1%) $308,595 (10.1%) 0.65 949
2020-09-01 $223,975 (16.0%) $306,508 (12.2%) 0.64 865
2020-10-01 $219,000 (13.5%) $309,978 (15.5%) 0.63 775
2020-11-01 $212,400 (11.9%) $309,580 (18.6%) 0.62 669
2020-12-01 $211,075 (12.9%) $316,135 (20.8%) 0.63 571
2021-01-01 $200,000 (8.1%) $329,255 (23.2%) 0.60 439
2021-02-01 $214,875 (7.5%) $336,437 (17.4%) 0.62 354
2021-03-01 $219,450 (0.1%) $335,778 (10.0%) 0.62 352
2021-04-01 $227,450 (2.3%) $338,200 (10.9%) 0.62 378
2021-05-01 $219,000 (-0.5%) $322,744 (7.8%) 0.58 466
2021-06-01 $212,450 (-7.2%) $315,837 (3.6%) 0.56 566
2021-07-01 $210,000 (-8.4%) $310,389 (-0.3%) 0.55 593
2021-08-01 $199,750 (-12.0%) $292,790 (-5.1%) 0.53 580
2021-09-01 $199,450 (-11.0%) $291,229 (-5.0%) 0.53 553
2021-10-01 $199,250 (-9.0%) $272,973 (-11.9%) 0.53 522
2021-11-01 $199,450 (-6.1%) $294,004 (-5.0%) 0.53 420
2021-12-01 $189,500 (-10.2%) $295,303 (-6.6%) 0.51 330
2022-01-01 $189,900 (-5.1%) $311,909 (-5.3%) 0.51 283
2022-02-01 $219,000 (1.9%) $362,493 (7.7%) 0.57 235
2022-03-01 $234,675 (6.9%) $385,229 (14.7%) 0.59 227
2022-04-01 $249,900 (9.9%) $369,298 (9.2%) 0.60 266
2022-05-01 $257,750 (17.7%) $377,471 (17.0%) 0.59 354
2022-06-01 $261,150 (22.9%) $372,662 (18.0%) 0.58 437
2022-07-01 $259,900 (23.8%) $365,989 (17.9%) 0.59 531
2022-08-01 $250,000 (25.2%) $350,902 (19.9%) 0.58 599
2022-09-01 $252,475 (26.6%) $351,332 (20.6%) 0.59 594
2022-10-01 $253,900 (27.4%) $363,211 (33.1%) 0.60 552
2022-11-01 $250,000 (25.3%) $359,005 (22.1%) 0.60 499
2022-12-01 $252,500 (33.3%) $360,992 (22.2%) 0.63 435
Duluth's median listing price for 2022-12-01 was $252,500, a difference of $63,000 (33.3%) versus the prior year and $2,500 versus the prior month.

Duluth's median listing price comes in at 63% of the national average.

Duluth's average listing price for 2022-12-01 was $360,992, a difference of $65,689 (22.2%) versus the prior year and $1,987 versus the prior month.

For the 2022-12-01 period, Duluth had 435 MLS listings, a difference of -64 listings (-13%) versus the prior month and 105 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Duluth (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 124 days 1,490 sqft
2018-02-01 123 days 1,508 sqft
2018-03-01 103 days 1,544 sqft
2018-04-01 83 days 1,567 sqft
2018-05-01 71 days 1,561 sqft
2018-06-01 60 days 1,568 sqft
2018-07-01 66 days 1,564 sqft
2018-08-01 73 days 1,561 sqft
2018-09-01 80 days 1,530 sqft
2018-10-01 87 days 1,488 sqft
2018-11-01 97 days 1,490 sqft
2018-12-01 115 days 1,456 sqft
2019-01-01 127 days 1,492 sqft
2019-02-01 137 days 1,500 sqft
2019-03-01 121 days 1,506 sqft
2019-04-01 93 days 1,544 sqft
2019-05-01 65 days 1,566 sqft
2019-06-01 57 days 1,543 sqft
2019-07-01 61 days 1,551 sqft
2019-08-01 70 days 1,521 sqft
2019-09-01 80 days 1,476 sqft
2019-10-01 90 days 1,444 sqft
2019-11-01 106 days 1,440 sqft
2019-12-01 129 days 1,444 sqft
2020-01-01 137 days 1,464 sqft
2020-02-01 142 days 1,464 sqft
2020-03-01 139 days 1,478 sqft
2020-04-01 101 days 1,502 sqft
2020-05-01 82 days 1,498 sqft
2020-06-01 76 days 1,500 sqft
2020-07-01 62 days 1,538 sqft
2020-08-01 64 days 1,540 sqft
2020-09-01 70 days 1,497 sqft
2020-10-01 74 days 1,508 sqft
2020-11-01 81 days 1,452 sqft
2020-12-01 88 days 1,456 sqft
2021-01-01 107 days 1,421 sqft
2021-02-01 118 days 1,439 sqft
2021-03-01 93 days 1,452 sqft
2021-04-01 51 days 1,524 sqft
2021-05-01 40 days 1,515 sqft
2021-06-01 34 days 1,504 sqft
2021-07-01 44 days 1,504 sqft
2021-08-01 54 days 1,430 sqft
2021-09-01 53 days 1,446 sqft
2021-10-01 53 days 1,454 sqft
2021-11-01 61 days 1,478 sqft
2021-12-01 75 days 1,451 sqft
2022-01-01 85 days 1,407 sqft
2022-02-01 83 days 1,613 sqft
2022-03-01 62 days 1,690 sqft
2022-04-01 33 days 1,640 sqft
2022-05-01 28 days 1,601 sqft
2022-06-01 32 days 1,626 sqft
2022-07-01 35 days 1,620 sqft
2022-08-01 40 days 1,568 sqft
2022-09-01 49 days 1,582 sqft
2022-10-01 53 days 1,600 sqft
2022-11-01 61 days 1,562 sqft
2022-12-01 79 days 1,551 sqft
Duluth's median listing age (time on market) for 2022-12-01 was 79 days. This is 6% longer than the same period one year ago.

Duluth's median square footage for active listings during the 2022-12-01 period was 1,551 sqft. One year prior, the average listing was 1,451 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.