Fargo VA Loan Rates, Closing Costs & Stats

FARGO, ND-MN

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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.

    Fargo's 41 lenders originated 238 VA loans during 2023. The total origination value was $71,840,000, with an average VA loan value of $301,849.

    Fargo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Fargo averaged 5.95% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Fargo's average VA mortgage closing costs are $5,681.

    The average rate for the prior week (2024-12-06) was 6.09% and one month ago for the week of 2024-11-08, the average rate was 6.28%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.04%.

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

    Fargo 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 Fargo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 38 6.79% $6,595
    UNITED WHOLESALE MORTGAGE, LLC 32 5.96% $6,794
    Gate City Bank 19 6.24% $6,340
    VALLEY MORTGAGE, INC. 12 6.30% $8,652
    First International Bank & Trust 12 6.17% $5,830
    TOWN AND COUNTRY Credit Union 10 5.70% $8,621
    FREEDOM MORTGAGE CORPORATION 7 6.66% $13,077
    NAVY FEDERAL CREDIT UNION 6 5.69% $8,539
    PENNYMAC LOAN SERVICES, LLC 6 5.58% $4,441
    QUICKEN LOANS, LLC 5 6.52% $9,902
    USAA Federal Savings Bank 5 6.88% $7,274
    Wells Fargo Bank 5 5.88% $5,831
    FIRST COMMUNITY CREDIT UNION 5 5.97% $5,721
    LOANDEPOT.COM, LLC 5 5.89% $8,788
    Mr. Cooper ( Nationstar Mortgage ) 5 6.05% $10,495
    CAPITAL CREDIT UNION 4 5.75% $11,533
    Bell Bank 3 6.50% $4,008
    NEWREZ LLC 3 6.88% $14,161
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.79% $11,680
    Western State Bank 3 6.88% $2,212
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $12,143
    TOWNE MORTGAGE COMPANY 2 7.06% $12,762
    BAY EQUITY LLC 2 6.63% $7,993
    The Federal Savings Bank 2 6.06% $15,295
    First Western Bank & Trust 2 5.94% $4,550
    Flagstar Bank, FSB 2 6.25% $9,053
    U.S. Bank 2 7.06% $3,950
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $16,939
    Barrington Bank & Trust Company, N.A. 2 5.25% $3,403
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.56% $11,400
    NEW DAY FINANCIAL, LLC 1 7.75% $18,145
    Bremer Bank 1 6.75% $5,655
    BROKER SOLUTIONS, INC. 1 6.75% $7,478
    CRESCENT MORTGAGE COMPANY 1 5.75% $10,136
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $7,337
    GUARANTEED RATE, INC. 1 7.50% $575
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.50% $15,368
    Nations Lending Corporation 1 4.75% $19,014
    Alerus Financial 1 6.75% $4,214
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $4,141
    Unify Home Lending Inc. 1 6.75% $6,066

    The top Fargo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 38 VA loans originated. Their average total fees are $6,595, which is $199 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Fargo VA lenders (with over 10 loans originated) are First International Bank & Trust ($5,830), Gate City Bank ($6,340), Mortgage Research Center, LLC ($6,595), UNITED WHOLESALE MORTGAGE, LLC ($6,794) and TOWN AND COUNTRY Credit Union ($8,621).

    The lowest rate Fargo VA lenders (with over 10 loans originated) are TOWN AND COUNTRY Credit Union (5.70%), UNITED WHOLESALE MORTGAGE, LLC (5.96%), First International Bank & Trust (6.17%), Gate City Bank (6.24%) and VALLEY MORTGAGE, INC. (6.30%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fargo (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 $259,875 (2.4%) $302,763 (-1.4%) 0.96 848
    2018-02-01 $254,923 (-1.9%) $302,147 (-8.2%) 0.93 870
    2018-03-01 $256,731 (-4.3%) $302,402 (-9.0%) 0.90 873
    2018-04-01 $260,031 (-3.7%) $308,176 (-7.5%) 0.88 930
    2018-05-01 $260,772 (-4.9%) $309,626 (-5.2%) 0.87 1,051
    2018-06-01 $262,950 (-2.8%) $306,589 (-5.6%) 0.88 1,132
    2018-07-01 $260,028 (-2.3%) $302,992 (-6.0%) 0.87 1,167
    2018-08-01 $259,900 (2.0%) $302,860 (-0.4%) 0.87 1,206
    2018-09-01 $254,990 (1.3%) $302,135 (0.2%) 0.86 1,233
    2018-10-01 $250,672 (-0.1%) $299,192 (-0.6%) 0.85 1,217
    2018-11-01 $249,900 (-1.7%) $300,693 (1.1%) 0.85 1,154
    2018-12-01 $249,900 (-2.4%) $300,615 (1.0%) 0.86 1,014
    2019-01-01 $249,900 (-3.8%) $302,671 (0.0%) 0.86 893
    2019-02-01 $258,120 (1.3%) $307,307 (1.7%) 0.87 914
    2019-03-01 $259,734 (1.2%) $310,018 (2.5%) 0.85 984
    2019-04-01 $261,197 (0.5%) $312,610 (1.4%) 0.83 1,074
    2019-05-01 $263,125 (0.9%) $310,015 (0.1%) 0.82 1,229
    2019-06-01 $259,900 (-1.2%) $306,864 (0.1%) 0.81 1,296
    2019-07-01 $259,409 (-0.2%) $305,120 (0.7%) 0.81 1,307
    2019-08-01 $252,793 (-2.7%) $299,375 (-1.2%) 0.80 1,341
    2019-09-01 $249,634 (-2.1%) $294,773 (-2.4%) 0.80 1,366
    2019-10-01 $247,029 (-1.5%) $290,375 (-3.0%) 0.80 1,383
    2019-11-01 $245,000 (-2.0%) $287,972 (-4.2%) 0.80 1,292
    2019-12-01 $240,813 (-3.6%) $288,241 (-4.1%) 0.80 1,113
    2020-01-01 $239,945 (-4.0%) $290,503 (-4.0%) 0.80 954
    2020-02-01 $245,000 (-5.1%) $294,462 (-4.2%) 0.80 896
    2020-03-01 $249,950 (-3.8%) $295,028 (-4.8%) 0.78 925
    2020-04-01 $259,700 (-0.6%) $300,764 (-3.8%) 0.81 947
    2020-05-01 $264,900 (0.7%) $306,507 (-1.1%) 0.81 933
    2020-06-01 $269,925 (3.9%) $316,753 (3.2%) 0.80 932
    2020-07-01 $269,900 (4.0%) $317,613 (4.1%) 0.78 872
    2020-08-01 $269,900 (6.8%) $324,959 (8.6%) 0.77 875
    2020-09-01 $269,881 (8.1%) $319,652 (8.4%) 0.77 848
    2020-10-01 $269,778 (9.2%) $315,867 (8.8%) 0.77 812
    2020-11-01 $269,545 (10.0%) $310,647 (7.9%) 0.79 749
    2020-12-01 $271,912 (12.9%) $310,338 (7.7%) 0.81 662
    2021-01-01 $278,943 (16.3%) $323,634 (11.4%) 0.83 537
    2021-02-01 $295,236 (20.5%) $343,026 (16.5%) 0.86 454
    2021-03-01 $296,554 (18.7%) $338,955 (14.9%) 0.84 438
    2021-04-01 $302,000 (16.3%) $347,715 (15.6%) 0.82 455
    2021-05-01 $315,000 (18.9%) $358,070 (16.8%) 0.84 451
    2021-06-01 $318,700 (18.1%) $359,532 (13.5%) 0.84 506
    2021-07-01 $319,950 (18.5%) $357,813 (12.7%) 0.84 532
    2021-08-01 $317,400 (17.6%) $358,237 (10.2%) 0.85 560
    2021-09-01 $318,633 (18.1%) $348,420 (9.0%) 0.85 561
    2021-10-01 $327,055 (21.2%) $350,217 (10.9%) 0.87 544
    2021-11-01 $328,495 (21.9%) $351,257 (13.1%) 0.88 506
    2021-12-01 $338,995 (24.7%) $361,565 (16.5%) 0.92 416
    2022-01-01 $345,000 (23.7%) $360,013 (11.2%) 0.93 364
    2022-02-01 $349,950 (18.5%) $385,380 (12.4%) 0.91 351
    2022-03-01 $366,835 (23.7%) $429,715 (26.8%) 0.92 338
    2022-04-01 $370,000 (22.5%) $426,661 (22.7%) 0.88 378
    2022-05-01 $371,366 (17.9%) $418,168 (16.8%) 0.85 476
    2022-06-01 $362,752 (13.8%) $409,167 (13.8%) 0.81 540
    2022-07-01 $369,350 (15.4%) $419,740 (17.3%) 0.83 553
    2022-08-01 $364,325 (14.8%) $419,626 (17.1%) 0.84 571
    2022-09-01 $359,910 (13.0%) $409,412 (17.5%) 0.84 636
    2022-10-01 $354,911 (8.5%) $403,402 (15.2%) 0.84 670
    2022-11-01 $353,955 (7.8%) $404,681 (15.2%) 0.85 711
    2022-12-01 $354,900 (4.7%) $398,181 (10.1%) 0.88 680
    2023-01-01 $364,978 (5.8%) $412,112 (14.5%) 0.90 596
    2023-02-01 $377,225 (7.8%) $425,879 (10.5%) 0.91 542
    2023-03-01 $380,893 (3.8%) $434,033 (1.0%) 0.90 546
    2023-04-01 $382,465 (3.4%) $441,858 (3.6%) 0.89 551
    2023-05-01 $389,900 (5.0%) $449,183 (7.4%) 0.88 621
    2023-06-01 $389,900 (7.5%) $449,646 (9.9%) 0.88 659
    2023-07-01 $385,000 (4.2%) $441,257 (5.1%) 0.88 672
    2023-08-01 $372,546 (2.3%) $433,623 (3.3%) 0.86 735
    2023-09-01 $364,900 (1.4%) $409,719 (0.1%) 0.85 868
    2023-10-01 $357,843 (0.8%) $403,301 (0.0%) 0.84 858
    2023-11-01 $354,975 (0.3%) $403,984 (-0.2%) 0.85 861
    2023-12-01 $360,350 (1.5%) $410,772 (3.2%) 0.88 734
    2024-01-01 $359,900 (-1.4%) $413,610 (0.4%) 0.88 642
    2024-02-01 $365,000 (-3.2%) $422,950 (-0.7%) 0.88 641
    2024-03-01 $384,900 (1.1%) $435,311 (0.3%) 0.91 700
    2024-04-01 $386,325 (1.0%) $439,438 (-0.6%) 0.90 729
    2024-05-01 $386,460 (-0.9%) $442,047 (-1.6%) 0.87 856
    2024-06-01 $399,000 (2.3%) $457,178 (1.7%) 0.90 800
    2024-07-01 $399,900 (3.9%) $459,872 (4.2%) 0.91 829
    2024-08-01 $395,950 (6.3%) $461,506 (6.4%) 0.92 890
    2024-09-01 $385,000 (5.5%) $455,327 (11.1%) 0.91 935
    2024-10-01 $378,900 (5.9%) $448,060 (11.1%) 0.89 973
    2024-11-01 $374,900 (5.6%) $451,946 (11.9%) 0.90 915
    Fargo's median listing price for 2024-11-01 was $374,900, a difference of $19,925 (5.6%) versus the prior year and $-4,000 versus the prior month.

    Fargo's median listing price comes in at 90% of the national average.

    Fargo's average listing price for 2024-11-01 was $451,946, a difference of $47,962 (11.9%) versus the prior year and $3,886 versus the prior month.

    For the 2024-11-01 period, Fargo had 915 MLS listings, a difference of -58 listings (-6%) versus the prior month and 54 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fargo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 2,339 sqft
    2018-02-01 48 days 2,298 sqft
    2018-03-01 53 days 2,314 sqft
    2018-04-01 46 days 2,347 sqft
    2018-05-01 39 days 2,390 sqft
    2018-06-01 40 days 2,399 sqft
    2018-07-01 49 days 2,365 sqft
    2018-08-01 55 days 2,352 sqft
    2018-09-01 58 days 2,340 sqft
    2018-10-01 65 days 2,317 sqft
    2018-11-01 73 days 2,268 sqft
    2018-12-01 85 days 2,240 sqft
    2019-01-01 86 days 2,217 sqft
    2019-02-01 78 days 2,230 sqft
    2019-03-01 60 days 2,242 sqft
    2019-04-01 46 days 2,255 sqft
    2019-05-01 39 days 2,256 sqft
    2019-06-01 46 days 2,274 sqft
    2019-07-01 57 days 2,296 sqft
    2019-08-01 58 days 2,274 sqft
    2019-09-01 60 days 2,255 sqft
    2019-10-01 61 days 2,234 sqft
    2019-11-01 69 days 2,230 sqft
    2019-12-01 87 days 2,201 sqft
    2020-01-01 95 days 2,201 sqft
    2020-02-01 91 days 2,201 sqft
    2020-03-01 65 days 2,213 sqft
    2020-04-01 59 days 2,237 sqft
    2020-05-01 57 days 2,274 sqft
    2020-06-01 45 days 2,340 sqft
    2020-07-01 46 days 2,340 sqft
    2020-08-01 51 days 2,345 sqft
    2020-09-01 50 days 2,340 sqft
    2020-10-01 57 days 2,296 sqft
    2020-11-01 67 days 2,225 sqft
    2020-12-01 83 days 2,214 sqft
    2021-01-01 71 days 2,239 sqft
    2021-02-01 47 days 2,355 sqft
    2021-03-01 47 days 2,360 sqft
    2021-04-01 36 days 2,324 sqft
    2021-05-01 33 days 2,341 sqft
    2021-06-01 32 days 2,349 sqft
    2021-07-01 38 days 2,343 sqft
    2021-08-01 44 days 2,401 sqft
    2021-09-01 53 days 2,383 sqft
    2021-10-01 60 days 2,396 sqft
    2021-11-01 62 days 2,389 sqft
    2021-12-01 80 days 2,438 sqft
    2022-01-01 75 days 2,417 sqft
    2022-02-01 58 days 2,410 sqft
    2022-03-01 56 days 2,372 sqft
    2022-04-01 38 days 2,332 sqft
    2022-05-01 30 days 2,359 sqft
    2022-06-01 34 days 2,318 sqft
    2022-07-01 44 days 2,326 sqft
    2022-08-01 46 days 2,318 sqft
    2022-09-01 43 days 2,258 sqft
    2022-10-01 51 days 2,250 sqft
    2022-11-01 58 days 2,212 sqft
    2022-12-01 71 days 2,183 sqft
    2023-01-01 86 days 2,185 sqft
    2023-02-01 86 days 2,190 sqft
    2023-03-01 62 days 2,183 sqft
    2023-04-01 57 days 2,190 sqft
    2023-05-01 53 days 2,241 sqft
    2023-06-01 51 days 2,341 sqft
    2023-07-01 53 days 2,341 sqft
    2023-08-01 57 days 2,267 sqft
    2023-09-01 57 days 2,266 sqft
    2023-10-01 61 days 2,251 sqft
    2023-11-01 60 days 2,250 sqft
    2023-12-01 72 days 2,242 sqft
    2024-01-01 76 days 2,200 sqft
    2024-02-01 46 days 2,225 sqft
    2024-03-01 51 days 2,280 sqft
    2024-04-01 52 days 2,252 sqft
    2024-05-01 42 days 2,250 sqft
    2024-06-01 47 days 2,345 sqft
    2024-07-01 52 days 2,364 sqft
    2024-08-01 50 days 2,283 sqft
    2024-09-01 53 days 2,283 sqft
    2024-10-01 61 days 2,258 sqft
    2024-11-01 68 days 2,187 sqft
    Fargo's median listing age (time on market) for 2024-11-01 was 68 days. This is 13% longer than the same period one year ago.

    Fargo's median square footage for active listings during the 2024-11-01 period was 2,187 sqft. One year prior, the average listing was 2,250 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.