Duluth VA Loans
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 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
5.61%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.34% and
one month ago for the week of 2022-04-08, the
average rate was 4.96%.
The average rate one year ago was 3.28%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.1%.
Duluth VA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Duluth level.
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 & INVESTMENT LLC ($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 & INVESTMENT LLC (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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $165,000 (5.9%) | $262,259 (9.2%) | 0.61 | 1,392 |
2018-02-01 | $169,000 (7.3%) | $267,641 (8.8%) | 0.61 | 1,363 |
2018-03-01 | $184,900 (12.1%) | $287,060 (14.6%) | 0.64 | 1,406 |
2018-04-01 | $189,700 (11.7%) | $294,426 (17.2%) | 0.64 | 1,470 |
2018-05-01 | $192,400 (7.2%) | $295,046 (15.0%) | 0.64 | 1,695 |
2018-06-01 | $193,900 (7.8%) | $287,258 (12.1%) | 0.65 | 1,995 |
2018-07-01 | $192,000 (6.7%) | $277,648 (5.2%) | 0.64 | 2,090 |
2018-08-01 | $189,250 (5.2%) | $270,616 (-0.7%) | 0.63 | 2,066 |
2018-09-01 | $189,900 (6.7%) | $271,208 (1.0%) | 0.64 | 2,048 |
2018-10-01 | $187,900 (7.4%) | $270,873 (4.0%) | 0.63 | 1,989 |
2018-11-01 | $185,000 (9.5%) | $267,162 (4.5%) | 0.62 | 1,803 |
2018-12-01 | $182,000 (10.3%) | $265,056 (2.4%) | 0.62 | 1,603 |
2019-01-01 | $180,950 (9.7%) | $278,437 (6.2%) | 0.62 | 1,277 |
2019-02-01 | $179,450 (6.2%) | $273,865 (2.3%) | 0.60 | 1,238 |
2019-03-01 | $196,529 (6.3%) | $282,759 (-1.5%) | 0.64 | 1,284 |
2019-04-01 | $219,900 (15.9%) | $291,632 (-1.0%) | 0.69 | 1,376 |
2019-05-01 | $219,500 (14.1%) | $296,105 (0.4%) | 0.68 | 1,546 |
2019-06-01 | $214,777 (10.8%) | $290,480 (1.1%) | 0.66 | 1,767 |
2019-07-01 | $212,450 (10.7%) | $289,386 (4.2%) | 0.66 | 1,904 |
2019-08-01 | $195,671 (3.4%) | $282,580 (4.4%) | 0.62 | 1,954 |
2019-09-01 | $190,621 (0.4%) | $275,467 (1.6%) | 0.61 | 1,923 |
2019-10-01 | $197,450 (5.1%) | $275,992 (1.9%) | 0.63 | 1,858 |
2019-11-01 | $199,900 (8.1%) | $277,673 (3.9%) | 0.65 | 1,606 |
2019-12-01 | $199,450 (9.6%) | $279,793 (5.6%) | 0.66 | 1,345 |
2020-01-01 | $199,000 (10.0%) | $287,660 (3.3%) | 0.66 | 1,120 |
2020-02-01 | $218,000 (21.5%) | $307,747 (12.4%) | 0.70 | 1,039 |
2020-03-01 | $234,950 (19.6%) | $328,511 (16.2%) | 0.73 | 1,063 |
2020-04-01 | $239,000 (8.7%) | $326,623 (12.0%) | 0.74 | 1,137 |
2020-05-01 | $235,000 (7.1%) | $319,735 (8.0%) | 0.71 | 1,215 |
2020-06-01 | $239,000 (11.3%) | $322,664 (11.1%) | 0.70 | 1,241 |
2020-07-01 | $235,750 (11.0%) | $324,685 (12.2%) | 0.68 | 1,199 |
2020-08-01 | $239,000 (22.1%) | $322,973 (14.3%) | 0.68 | 1,129 |
2020-09-01 | $229,450 (20.4%) | $319,311 (15.9%) | 0.66 | 1,022 |
2020-10-01 | $224,900 (13.9%) | $324,443 (17.6%) | 0.64 | 954 |
2020-11-01 | $224,450 (12.3%) | $331,795 (19.5%) | 0.64 | 825 |
2020-12-01 | $222,000 (11.3%) | $337,273 (20.5%) | 0.65 | 701 |
2021-01-01 | $220,000 (10.6%) | $351,072 (22.0%) | 0.65 | 525 |
2021-02-01 | $225,000 (3.2%) | $359,881 (16.9%) | 0.65 | 428 |
2021-03-01 | $227,450 (-3.2%) | $363,911 (10.8%) | 0.64 | 413 |
2021-04-01 | $237,250 (-0.7%) | $367,106 (12.4%) | 0.64 | 444 |
2021-05-01 | $229,500 (-2.3%) | $349,773 (9.4%) | 0.60 | 539 |
2021-06-01 | $227,450 (-4.8%) | $337,805 (4.7%) | 0.59 | 673 |
2021-07-01 | $216,950 (-8.0%) | $324,514 (-0.1%) | 0.56 | 729 |
2021-08-01 | $209,950 (-12.2%) | $312,941 (-3.1%) | 0.55 | 737 |
2021-09-01 | $211,750 (-7.7%) | $315,762 (-1.1%) | 0.56 | 681 |
2021-10-01 | $199,900 (-11.1%) | $285,989 (-11.9%) | 0.53 | 646 |
2021-11-01 | $210,000 (-6.4%) | $304,753 (-8.2%) | 0.55 | 506 |
2021-12-01 | $196,950 (-11.3%) | $302,584 (-10.3%) | 0.53 | 407 |
2022-01-01 | $199,000 (-9.6%) | $317,441 (-9.6%) | 0.53 | 362 |
2022-02-01 | $226,950 (0.9%) | $364,955 (1.4%) | 0.58 | 296 |
2022-03-01 | $249,950 (9.9%) | $385,764 (6.0%) | 0.62 | 287 |
2022-04-01 | $265,000 (11.7%) | $373,680 (1.8%) | 0.62 | 333 |
Duluth's median listing price comes in at 62% of the national average.
Duluth's average listing price for 2022-04-01 was $373,680, a difference of $6,574 (1.8%) versus the prior year and $-12,084 versus the prior month.
For the 2022-04-01 period, Duluth had 333 MLS listings, a difference of 46 listings (16%) versus the prior month and -111 listings (-25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Duluth (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 121 days | 1,516 sqft |
2018-02-01 | 120 days | 1,526 sqft |
2018-03-01 | 99 days | 1,574 sqft |
2018-04-01 | 80 days | 1,585 sqft |
2018-05-01 | 67 days | 1,580 sqft |
2018-06-01 | 57 days | 1,580 sqft |
2018-07-01 | 65 days | 1,584 sqft |
2018-08-01 | 73 days | 1,585 sqft |
2018-09-01 | 81 days | 1,568 sqft |
2018-10-01 | 88 days | 1,512 sqft |
2018-11-01 | 98 days | 1,500 sqft |
2018-12-01 | 119 days | 1,482 sqft |
2019-01-01 | 128 days | 1,489 sqft |
2019-02-01 | 138 days | 1,500 sqft |
2019-03-01 | 134 days | 1,542 sqft |
2019-04-01 | 100 days | 1,609 sqft |
2019-05-01 | 69 days | 1,596 sqft |
2019-06-01 | 57 days | 1,568 sqft |
2019-07-01 | 62 days | 1,564 sqft |
2019-08-01 | 70 days | 1,507 sqft |
2019-09-01 | 80 days | 1,435 sqft |
2019-10-01 | 87 days | 1,417 sqft |
2019-11-01 | 100 days | 1,422 sqft |
2019-12-01 | 121 days | 1,432 sqft |
2020-01-01 | 133 days | 1,456 sqft |
2020-02-01 | 147 days | 1,464 sqft |
2020-03-01 | 141 days | 1,493 sqft |
2020-04-01 | 98 days | 1,505 sqft |
2020-05-01 | 79 days | 1,508 sqft |
2020-06-01 | 70 days | 1,500 sqft |
2020-07-01 | 64 days | 1,541 sqft |
2020-08-01 | 63 days | 1,568 sqft |
2020-09-01 | 66 days | 1,504 sqft |
2020-10-01 | 67 days | 1,508 sqft |
2020-11-01 | 78 days | 1,454 sqft |
2020-12-01 | 90 days | 1,460 sqft |
2021-01-01 | 108 days | 1,425 sqft |
2021-02-01 | 117 days | 1,419 sqft |
2021-03-01 | 93 days | 1,472 sqft |
2021-04-01 | 51 days | 1,569 sqft |
2021-05-01 | 37 days | 1,549 sqft |
2021-06-01 | 35 days | 1,542 sqft |
2021-07-01 | 41 days | 1,491 sqft |
2021-08-01 | 48 days | 1,439 sqft |
2021-09-01 | 56 days | 1,453 sqft |
2021-10-01 | 54 days | 1,446 sqft |
2021-11-01 | 62 days | 1,480 sqft |
2021-12-01 | 76 days | 1,440 sqft |
2022-01-01 | 85 days | 1,406 sqft |
2022-02-01 | 93 days | 1,472 sqft |
2022-03-01 | 67 days | 1,592 sqft |
2022-04-01 | 37 days | 1,568 sqft |
Duluth's median square footage for active listings during the 2022-04-01 period was 1,568 sqft. One year prior, the average listing was 1,569 sqft.