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 65 lenders originated 343 VA loans during 2022. The total origination value was $82,325,000, with an average VA loan value of $240,015.
Duluth VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Duluth
averaged
6.71%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Duluth's average VA mortgage closing costs are $4,915.
The average rate for the prior week (2023-05-19) was
6.44% and
one month ago for the week of 2023-04-21, the
average rate was 6.16%.
The average rate one year ago was 5.13%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.24%.
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.
The top Duluth VA lender as defined by loan originations is Mortgage Research Center, LLC, with
79 VA loans originated. Their average total fees are
$5,381, which is $2,421
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Duluth VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($5,381), North Shore Bank of Commerce ($5,832), FREEDOM MORTGAGE CORPORATION ($6,660), USAA Federal Savings Bank ($7,588) and QUICKEN LOANS, LLC ($7,802).
The lowest rate Duluth VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.38%), FREEDOM MORTGAGE CORPORATION (3.79%), QUICKEN LOANS, LLC (4.32%), USAA Federal Savings Bank (4.38%) and North Shore Bank of Commerce (4.98%).
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 | $154,958 (3.7%) | $242,349 (7.1%) | 0.57 | 1,184 |
2018-02-01 | $159,900 (6.6%) | $250,314 (7.1%) | 0.58 | 1,170 |
2018-03-01 | $169,000 (5.7%) | $266,737 (11.1%) | 0.59 | 1,209 |
2018-04-01 | $177,975 (7.9%) | $273,441 (12.8%) | 0.60 | 1,240 |
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%) | $270,015 (5.5%) | 0.62 | 1,752 |
2018-08-01 | $185,000 (5.7%) | $264,928 (3.8%) | 0.62 | 1,753 |
2018-09-01 | $183,900 (6.2%) | $259,117 (3.1%) | 0.62 | 1,718 |
2018-10-01 | $179,950 (5.9%) | $259,651 (5.4%) | 0.61 | 1,667 |
2018-11-01 | $179,450 (12.2%) | $256,213 (6.3%) | 0.61 | 1,518 |
2018-12-01 | $174,500 (9.8%) | $252,648 (4.1%) | 0.60 | 1,315 |
2019-01-01 | $171,225 (10.5%) | $267,180 (10.3%) | 0.59 | 1,059 |
2019-02-01 | $170,450 (6.6%) | $265,166 (5.9%) | 0.58 | 1,008 |
2019-03-01 | $191,250 (13.2%) | $283,997 (6.5%) | 0.64 | 1,054 |
2019-04-01 | $206,950 (16.3%) | $286,932 (4.9%) | 0.66 | 1,118 |
2019-05-01 | $201,225 (9.1%) | $287,739 (4.3%) | 0.63 | 1,271 |
2019-06-01 | $200,000 (8.1%) | $283,339 (4.6%) | 0.63 | 1,457 |
2019-07-01 | $202,400 (9.4%) | $285,216 (5.6%) | 0.63 | 1,580 |
2019-08-01 | $199,900 (8.1%) | $280,942 (6.0%) | 0.63 | 1,643 |
2019-09-01 | $192,475 (4.7%) | $273,314 (5.5%) | 0.61 | 1,526 |
2019-10-01 | $194,925 (8.3%) | $268,103 (3.3%) | 0.63 | 1,538 |
2019-11-01 | $189,900 (5.8%) | $260,678 (1.7%) | 0.62 | 1,338 |
2019-12-01 | $187,000 (7.2%) | $261,283 (3.4%) | 0.62 | 1,112 |
2020-01-01 | $184,950 (8.0%) | $266,863 (-0.1%) | 0.62 | 918 |
2020-02-01 | $199,900 (17.3%) | $286,248 (8.0%) | 0.65 | 871 |
2020-03-01 | $218,000 (14.0%) | $304,988 (7.4%) | 0.68 | 888 |
2020-04-01 | $222,450 (7.5%) | $304,737 (6.2%) | 0.70 | 934 |
2020-05-01 | $220,000 (9.3%) | $299,051 (3.9%) | 0.67 | 1,000 |
2020-06-01 | $229,000 (14.5%) | $304,609 (7.5%) | 0.67 | 1,041 |
2020-07-01 | $229,125 (13.2%) | $311,175 (9.1%) | 0.66 | 1,023 |
2020-08-01 | $225,000 (12.6%) | $308,404 (9.8%) | 0.64 | 945 |
2020-09-01 | $222,975 (15.9%) | $306,295 (12.1%) | 0.64 | 861 |
2020-10-01 | $218,250 (12.0%) | $309,738 (15.5%) | 0.63 | 771 |
2020-11-01 | $212,300 (11.8%) | $309,310 (18.7%) | 0.62 | 665 |
2020-12-01 | $209,613 (12.1%) | $315,882 (20.9%) | 0.62 | 567 |
2021-01-01 | $199,900 (8.1%) | $328,993 (23.3%) | 0.60 | 435 |
2021-02-01 | $212,950 (6.5%) | $336,210 (17.5%) | 0.62 | 350 |
2021-03-01 | $219,225 (0.6%) | $335,536 (10.0%) | 0.62 | 348 |
2021-04-01 | $226,450 (1.8%) | $338,006 (10.9%) | 0.61 | 374 |
2021-05-01 | $218,500 (-0.7%) | $322,476 (7.8%) | 0.58 | 462 |
2021-06-01 | $211,975 (-7.4%) | $315,416 (3.6%) | 0.56 | 563 |
2021-07-01 | $209,950 (-8.4%) | $309,946 (-0.4%) | 0.55 | 590 |
2021-08-01 | $199,500 (-11.3%) | $291,854 (-5.4%) | 0.53 | 576 |
2021-09-01 | $199,225 (-10.7%) | $290,201 (-5.3%) | 0.53 | 549 |
2021-10-01 | $199,000 (-8.8%) | $271,909 (-12.2%) | 0.53 | 518 |
2021-11-01 | $198,750 (-6.4%) | $293,445 (-5.1%) | 0.53 | 416 |
2021-12-01 | $189,175 (-9.8%) | $294,682 (-6.7%) | 0.51 | 326 |
2022-01-01 | $189,900 (-5.0%) | $311,383 (-5.4%) | 0.51 | 279 |
2022-02-01 | $217,800 (2.3%) | $362,562 (7.8%) | 0.57 | 231 |
2022-03-01 | $232,975 (6.3%) | $385,653 (14.9%) | 0.58 | 223 |
2022-04-01 | $247,500 (9.3%) | $369,447 (9.3%) | 0.59 | 262 |
2022-05-01 | $254,500 (16.5%) | $377,681 (17.1%) | 0.58 | 350 |
2022-06-01 | $259,675 (22.5%) | $372,767 (18.2%) | 0.58 | 433 |
2022-07-01 | $259,900 (23.8%) | $366,039 (18.1%) | 0.59 | 527 |
2022-08-01 | $250,000 (25.3%) | $350,861 (20.2%) | 0.58 | 595 |
2022-09-01 | $252,450 (26.7%) | $351,294 (21.1%) | 0.59 | 590 |
2022-10-01 | $252,450 (26.9%) | $363,246 (33.6%) | 0.59 | 548 |
2022-11-01 | $250,000 (25.8%) | $359,012 (22.3%) | 0.60 | 495 |
2022-12-01 | $250,000 (32.2%) | $360,895 (22.5%) | 0.62 | 429 |
2023-01-01 | $259,350 (36.6%) | $364,689 (17.1%) | 0.64 | 309 |
2023-02-01 | $272,075 (24.9%) | $376,662 (3.9%) | 0.66 | 263 |
2023-03-01 | $277,000 (18.9%) | $387,118 (0.4%) | 0.65 | 258 |
2023-04-01 | $295,000 (19.2%) | $397,502 (7.6%) | 0.69 | 317 |
Duluth's median listing price comes in at 69% of the national average.
Duluth's average listing price for 2023-04-01 was $397,502, a difference of $28,055 (7.6%) versus the prior year and $10,384 versus the prior month.
For the 2023-04-01 period, Duluth had 317 MLS listings, a difference of 59 listings (23%) versus the prior month and 55 listings (21%) 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 | 124 days | 1,491 sqft |
2018-02-01 | 123 days | 1,509 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 | 1,562 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 | 1,493 sqft |
2019-02-01 | 137 days | 1,500 sqft |
2019-03-01 | 136 days | 1,520 sqft |
2019-04-01 | 93 days | 1,563 sqft |
2019-05-01 | 65 days | 1,566 sqft |
2019-06-01 | 57 days | 1,544 sqft |
2019-07-01 | 61 days | 1,552 sqft |
2019-08-01 | 75 days | 1,512 sqft |
2019-09-01 | 88 days | 1,447 sqft |
2019-10-01 | 91 days | 1,441 sqft |
2019-11-01 | 106 days | 1,439 sqft |
2019-12-01 | 128 days | 1,443 sqft |
2020-01-01 | 136 days | 1,462 sqft |
2020-02-01 | 142 days | 1,462 sqft |
2020-03-01 | 137 days | 1,476 sqft |
2020-04-01 | 101 days | 1,502 sqft |
2020-05-01 | 82 days | 1,496 sqft |
2020-06-01 | 75 days | 1,497 sqft |
2020-07-01 | 62 days | 1,538 sqft |
2020-08-01 | 64 days | 1,538 sqft |
2020-09-01 | 69 days | 1,494 sqft |
2020-10-01 | 74 days | 1,504 sqft |
2020-11-01 | 80 days | 1,451 sqft |
2020-12-01 | 87 days | 1,455 sqft |
2021-01-01 | 106 days | 1,421 sqft |
2021-02-01 | 118 days | 1,436 sqft |
2021-03-01 | 89 days | 1,445 sqft |
2021-04-01 | 49 days | 1,515 sqft |
2021-05-01 | 40 days | 1,512 sqft |
2021-06-01 | 33 days | 1,504 sqft |
2021-07-01 | 43 days | 1,501 sqft |
2021-08-01 | 53 days | 1,429 sqft |
2021-09-01 | 53 days | 1,445 sqft |
2021-10-01 | 52 days | 1,446 sqft |
2021-11-01 | 60 days | 1,473 sqft |
2021-12-01 | 73 days | 1,448 sqft |
2022-01-01 | 83 days | 1,405 sqft |
2022-02-01 | 81 days | 1,607 sqft |
2022-03-01 | 62 days | 1,668 sqft |
2022-04-01 | 32 days | 1,638 sqft |
2022-05-01 | 27 days | 1,589 sqft |
2022-06-01 | 32 days | 1,620 sqft |
2022-07-01 | 35 days | 1,615 sqft |
2022-08-01 | 39 days | 1,567 sqft |
2022-09-01 | 48 days | 1,580 sqft |
2022-10-01 | 53 days | 1,600 sqft |
2022-11-01 | 60 days | 1,557 sqft |
2022-12-01 | 79 days | 1,545 sqft |
2023-01-01 | 99 days | 1,515 sqft |
2023-02-01 | 102 days | 1,592 sqft |
2023-03-01 | 88 days | 1,564 sqft |
2023-04-01 | 44 days | 1,558 sqft |
Duluth's median square footage for active listings during the 2023-04-01 period was 1,558 sqft. One year prior, the average listing was 1,638 sqft.