Fargo VA Loans
FARGO, ND-MN
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.
Fargo's 58 lenders originated 795 VA loans during 2021. The total origination value was $211,635,000, with an average VA loan value of $266,208.
Fargo VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Fargo
averaged
5.2%
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
5.43% and
one month ago for the week of 2022-04-08, the
average rate was 4.86%.
The average rate one year ago was 2.87%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.28%.
Fargo 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 Fargo level.
The top Fargo VA lender as defined by loan originations is Mortgage Research Center, LLC, with
81 VA loans originated. Their average total fees are
$4,699, which is $385
lower than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Fargo VA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($2,892), QUICKEN LOANS, LLC ($3,068), TOWN AND COUNTRY Credit Union ($3,453), LOANDEPOT.COM, LLC ($4,251) and Wells Fargo Bank ($4,564).
The lowest rate Fargo VA lenders (with over 10 loans originated) are
TOWN AND COUNTRY Credit Union (2.38%), PENNYMAC LOAN SERVICES, LLC (2.39%), QUICKEN LOANS, LLC (2.42%), Wells Fargo Bank (2.42%) and First International Bank & Trust (2.44%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Fargo (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 | $258,950 (2.0%) | $302,644 (-1.2%) | 0.95 | 869 |
2018-02-01 | $254,900 (-1.9%) | $300,847 (-8.0%) | 0.92 | 898 |
2018-03-01 | $257,539 (-2.8%) | $300,877 (-8.8%) | 0.89 | 907 |
2018-04-01 | $261,484 (-3.1%) | $307,367 (-7.2%) | 0.88 | 958 |
2018-05-01 | $261,650 (-3.8%) | $308,048 (-5.2%) | 0.87 | 1,087 |
2018-06-01 | $263,000 (-2.6%) | $305,395 (-5.7%) | 0.88 | 1,179 |
2018-07-01 | $260,332 (-2.9%) | $302,429 (-6.0%) | 0.87 | 1,199 |
2018-08-01 | $259,900 (2.3%) | $303,026 (0.4%) | 0.87 | 1,229 |
2018-09-01 | $255,000 (2.0%) | $304,109 (1.3%) | 0.85 | 1,257 |
2018-10-01 | $250,000 (0.0%) | $300,551 (1.0%) | 0.84 | 1,246 |
2018-11-01 | $249,900 (-1.0%) | $302,556 (2.2%) | 0.84 | 1,179 |
2018-12-01 | $249,900 (-2.0%) | $301,161 (1.9%) | 0.86 | 1,037 |
2019-01-01 | $249,950 (-3.5%) | $301,974 (-0.2%) | 0.86 | 911 |
2019-02-01 | $257,450 (1.0%) | $306,055 (1.7%) | 0.86 | 930 |
2019-03-01 | $260,900 (1.3%) | $310,212 (3.1%) | 0.85 | 999 |
2019-04-01 | $264,296 (1.1%) | $314,616 (2.4%) | 0.83 | 1,088 |
2019-05-01 | $263,000 (0.5%) | $310,529 (0.8%) | 0.81 | 1,248 |
2019-06-01 | $259,900 (-1.2%) | $307,808 (0.8%) | 0.80 | 1,316 |
2019-07-01 | $259,639 (-0.3%) | $306,437 (1.3%) | 0.81 | 1,326 |
2019-08-01 | $252,814 (-2.7%) | $300,070 (-1.0%) | 0.80 | 1,349 |
2019-09-01 | $249,900 (-2.0%) | $294,711 (-3.1%) | 0.79 | 1,363 |
2019-10-01 | $249,000 (-0.4%) | $290,600 (-3.3%) | 0.79 | 1,409 |
2019-11-01 | $247,000 (-1.2%) | $288,114 (-4.8%) | 0.80 | 1,321 |
2019-12-01 | $243,700 (-2.5%) | $288,268 (-4.3%) | 0.81 | 1,138 |
2020-01-01 | $239,945 (-4.0%) | $290,633 (-3.8%) | 0.80 | 975 |
2020-02-01 | $245,000 (-4.8%) | $293,703 (-4.0%) | 0.79 | 917 |
2020-03-01 | $250,113 (-4.1%) | $294,615 (-5.0%) | 0.78 | 945 |
2020-04-01 | $259,000 (-2.0%) | $298,760 (-5.0%) | 0.81 | 966 |
2020-05-01 | $263,720 (0.3%) | $305,026 (-1.8%) | 0.80 | 953 |
2020-06-01 | $269,950 (3.9%) | $315,075 (2.4%) | 0.79 | 954 |
2020-07-01 | $269,900 (4.0%) | $316,484 (3.3%) | 0.77 | 900 |
2020-08-01 | $269,900 (6.8%) | $323,789 (7.9%) | 0.77 | 905 |
2020-09-01 | $267,967 (7.2%) | $316,071 (7.3%) | 0.77 | 879 |
2020-10-01 | $268,000 (7.6%) | $311,580 (7.2%) | 0.77 | 847 |
2020-11-01 | $265,628 (7.5%) | $307,664 (6.8%) | 0.76 | 772 |
2020-12-01 | $271,229 (11.3%) | $308,115 (6.9%) | 0.80 | 683 |
2021-01-01 | $279,000 (16.3%) | $321,226 (10.5%) | 0.82 | 556 |
2021-02-01 | $294,900 (20.4%) | $340,909 (16.1%) | 0.85 | 464 |
2021-03-01 | $295,750 (18.3%) | $337,693 (14.6%) | 0.83 | 450 |
2021-04-01 | $301,600 (16.5%) | $345,804 (15.8%) | 0.81 | 464 |
2021-05-01 | $314,299 (19.2%) | $358,419 (17.5%) | 0.83 | 458 |
2021-06-01 | $317,150 (17.5%) | $356,998 (13.3%) | 0.82 | 509 |
2021-07-01 | $314,951 (16.7%) | $354,382 (12.0%) | 0.82 | 540 |
2021-08-01 | $317,200 (17.5%) | $357,955 (10.6%) | 0.83 | 580 |
2021-09-01 | $318,473 (18.9%) | $350,271 (10.8%) | 0.84 | 581 |
2021-10-01 | $326,775 (21.9%) | $350,023 (12.3%) | 0.86 | 555 |
2021-11-01 | $328,160 (23.5%) | $352,670 (14.6%) | 0.86 | 511 |
2021-12-01 | $337,900 (24.6%) | $363,637 (18.0%) | 0.90 | 427 |
2022-01-01 | $343,500 (23.1%) | $361,309 (12.5%) | 0.92 | 371 |
2022-02-01 | $349,450 (18.5%) | $387,311 (13.6%) | 0.89 | 360 |
2022-03-01 | $359,900 (21.7%) | $428,510 (26.9%) | 0.89 | 350 |
2022-04-01 | $364,510 (20.9%) | $423,842 (22.6%) | 0.86 | 385 |
Fargo's median listing price comes in at 86% of the national average.
Fargo's average listing price for 2022-04-01 was $423,842, a difference of $78,038 (22.6%) versus the prior year and $-4,668 versus the prior month.
For the 2022-04-01 period, Fargo had 385 MLS listings, a difference of 35 listings (10%) versus the prior month and -79 listings (-17%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fargo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 92 days | 2,325 sqft |
2018-02-01 | 51 days | 2,298 sqft |
2018-03-01 | 53 days | 2,304 sqft |
2018-04-01 | 50 days | 2,347 sqft |
2018-05-01 | 44 days | 2,377 sqft |
2018-06-01 | 43 days | 2,390 sqft |
2018-07-01 | 50 days | 2,351 sqft |
2018-08-01 | 57 days | 2,352 sqft |
2018-09-01 | 58 days | 2,340 sqft |
2018-10-01 | 67 days | 2,312 sqft |
2018-11-01 | 75 days | 2,265 sqft |
2018-12-01 | 85 days | 2,238 sqft |
2019-01-01 | 87 days | 2,212 sqft |
2019-02-01 | 83 days | 2,224 sqft |
2019-03-01 | 65 days | 2,238 sqft |
2019-04-01 | 48 days | 2,255 sqft |
2019-05-01 | 42 days | 2,249 sqft |
2019-06-01 | 46 days | 2,276 sqft |
2019-07-01 | 58 days | 2,302 sqft |
2019-08-01 | 60 days | 2,274 sqft |
2019-09-01 | 62 days | 2,248 sqft |
2019-10-01 | 64 days | 2,236 sqft |
2019-11-01 | 70 days | 2,234 sqft |
2019-12-01 | 89 days | 2,201 sqft |
2020-01-01 | 99 days | 2,201 sqft |
2020-02-01 | 99 days | 2,201 sqft |
2020-03-01 | 69 days | 2,214 sqft |
2020-04-01 | 62 days | 2,234 sqft |
2020-05-01 | 60 days | 2,274 sqft |
2020-06-01 | 50 days | 2,337 sqft |
2020-07-01 | 47 days | 2,340 sqft |
2020-08-01 | 52 days | 2,340 sqft |
2020-09-01 | 52 days | 2,290 sqft |
2020-10-01 | 58 days | 2,236 sqft |
2020-11-01 | 71 days | 2,204 sqft |
2020-12-01 | 86 days | 2,208 sqft |
2021-01-01 | 73 days | 2,232 sqft |
2021-02-01 | 52 days | 2,339 sqft |
2021-03-01 | 52 days | 2,348 sqft |
2021-04-01 | 39 days | 2,315 sqft |
2021-05-01 | 36 days | 2,341 sqft |
2021-06-01 | 34 days | 2,350 sqft |
2021-07-01 | 40 days | 2,343 sqft |
2021-08-01 | 41 days | 2,388 sqft |
2021-09-01 | 55 days | 2,382 sqft |
2021-10-01 | 66 days | 2,368 sqft |
2021-11-01 | 68 days | 2,368 sqft |
2021-12-01 | 82 days | 2,422 sqft |
2022-01-01 | 80 days | 2,400 sqft |
2022-02-01 | 64 days | 2,400 sqft |
2022-03-01 | 59 days | 2,358 sqft |
2022-04-01 | 39 days | 2,343 sqft |
Fargo's median square footage for active listings during the 2022-04-01 period was 2,343 sqft. One year prior, the average listing was 2,315 sqft.