Fort Madison VA Loan Rates, Closing Costs & Stats

Fort Madison-Keokuk, IA-IL-MO

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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.

    Fort Madison's 18 lenders originated 42 VA loans during 2023. The total origination value was $7,740,000, with an average VA loan value of $184,286.

    Fort Madison VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Fort Madison averaged 6.45% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Fort Madison's average VA mortgage closing costs are $3,789.

    The average rate for the prior week (2025-02-07) was 6.78% and one month ago for the week of 2025-01-10, the average rate was 6.62%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.53%.

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

    Fort Madison 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 Fort Madison level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 15 6.64% $4,486
    Fortress Bank 4 7.00% $3,467
    QUICKEN LOANS, LLC 3 6.08% $4,762
    USAA Federal Savings Bank 3 6.25% $3,744
    NAVY FEDERAL CREDIT UNION 2 5.63% $1,812
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $3,010
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $10,514
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $5,581
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 6.50% $575
    United Community Bank 1 6.38% $5,993
    UNITED WHOLESALE MORTGAGE, LLC 1 7.13% $12,747
    U.S. Bank 1 6.63% $3,028
    Barrington Bank & Trust Company, N.A. 1 5.75% $3,781
    Wells Fargo Bank 1 5.75% $1,868
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $5,728
    LOANDEPOT.COM, LLC 1 5.99% $9,033
    MOVEMENT MORTGAGE, LLC 1 6.75% $2,187
    NEWREZ LLC 1 6.63% $4,886

    The top Fort Madison VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $4,486, which is $1,019 higher than the next largest lender, Fortress Bank.

    The lowest fee Fort Madison VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,486), .

    The lowest rate Fort Madison VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.64%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Madison (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 $90,725 (2.0%) $137,107 (12.9%) 0.00 108
    2018-02-01 $98,000 (10.8%) $147,118 (23.4%) 0.00 96
    2018-03-01 $99,250 (1.8%) $146,154 (16.0%) 0.00 109
    2018-04-01 $92,350 (-16.8%) $146,243 (11.2%) 0.00 114
    2018-05-01 $92,475 (-11.9%) $141,633 (11.0%) 0.00 138
    2018-06-01 $107,450 (1.9%) $149,262 (14.9%) 0.00 138
    2018-07-01 $111,125 (5.9%) $145,169 (14.2%) 0.00 151
    2018-08-01 $115,225 (16.9%) $142,664 (11.9%) 0.00 153
    2018-09-01 $114,000 (18.0%) $139,019 (10.6%) 0.00 156
    2018-10-01 $112,000 (9.1%) $133,992 (-1.4%) 0.00 145
    2018-11-01 $113,725 (13.8%) $142,422 (2.0%) 0.00 132
    2018-12-01 $112,900 (26.5%) $148,914 (11.3%) 0.00 113
    2019-01-01 $114,000 (25.7%) $147,324 (7.5%) 0.00 107
    2019-02-01 $114,825 (17.2%) $151,522 (3.0%) 0.00 99
    2019-03-01 $117,511 (18.4%) $151,631 (3.8%) 0.00 98
    2019-04-01 $118,386 (28.2%) $153,406 (4.9%) 0.00 101
    2019-05-01 $115,688 (25.1%) $158,610 (12.0%) 0.00 103
    2019-06-01 $114,900 (6.9%) $160,711 (7.7%) 0.00 102
    2019-07-01 $109,500 (-1.5%) $155,556 (7.2%) 0.00 110
    2019-08-01 $112,727 (-2.2%) $155,906 (9.3%) 0.00 109
    2019-09-01 $116,818 (2.5%) $156,805 (12.8%) 0.00 111
    2019-10-01 $121,250 (8.3%) $157,968 (17.9%) 0.00 112
    2019-11-01 $119,450 (5.0%) $155,512 (9.2%) 0.00 114
    2019-12-01 $101,700 (-9.9%) $141,895 (-4.7%) 0.00 118
    2020-01-01 $99,700 (-12.5%) $138,113 (-6.3%) 0.00 126
    2020-02-01 $99,900 (-13.0%) $137,185 (-9.5%) 0.00 117
    2020-03-01 $103,450 (-12.0%) $142,656 (-5.9%) 0.00 105
    2020-04-01 $99,800 (-15.7%) $142,204 (-7.3%) 0.00 109
    2020-05-01 $104,000 (-10.1%) $147,062 (-7.3%) 0.00 103
    2020-06-01 $110,500 (-3.8%) $144,898 (-9.8%) 0.00 109
    2020-07-01 $115,200 (5.2%) $143,447 (-7.8%) 0.00 109
    2020-08-01 $123,950 (10.0%) $149,802 (-3.9%) 0.00 112
    2020-09-01 $117,200 (0.3%) $146,095 (-6.8%) 0.00 113
    2020-10-01 $114,750 (-5.4%) $151,110 (-4.3%) 0.00 117
    2020-11-01 $119,075 (-0.3%) $166,574 (7.1%) 0.00 99
    2020-12-01 $119,000 (17.0%) $168,052 (18.4%) 0.00 84
    2021-01-01 $109,900 (10.2%) $152,086 (10.1%) 0.00 76
    2021-02-01 $107,225 (7.3%) $157,033 (14.5%) 0.00 71
    2021-03-01 $115,950 (12.1%) $159,756 (12.0%) 0.00 65
    2021-04-01 $96,000 (-3.8%) $142,598 (0.3%) 0.00 67
    2021-05-01 $92,900 (-10.7%) $128,760 (-12.5%) 0.00 81
    2021-06-01 $88,875 (-19.6%) $120,838 (-16.6%) 0.00 88
    2021-07-01 $88,500 (-23.2%) $124,134 (-13.5%) 0.00 95
    2021-08-01 $97,650 (-21.2%) $136,627 (-8.8%) 0.00 103
    2021-09-01 $94,100 (-19.7%) $128,378 (-12.1%) 0.00 96
    2021-10-01 $92,900 (-19.0%) $132,024 (-12.6%) 0.00 97
    2021-11-01 $81,225 (-31.8%) $112,797 (-32.3%) 0.00 91
    2021-12-01 $83,950 (-29.5%) $115,670 (-31.2%) 0.00 83
    2022-01-01 $85,000 (-22.7%) $105,836 (-30.4%) 0.00 72
    2022-02-01 $92,725 (-13.5%) $124,872 (-20.5%) 0.00 61
    2022-03-01 $116,750 (0.7%) $146,167 (-8.5%) 0.00 63
    2022-04-01 $133,750 (39.3%) $170,213 (19.4%) 0.00 63
    2022-05-01 $144,625 (55.7%) $169,363 (31.5%) 0.00 73
    2022-06-01 $147,625 (66.1%) $180,175 (49.1%) 0.00 84
    2022-07-01 $134,000 (51.4%) $172,797 (39.2%) 0.00 89
    2022-08-01 $135,350 (38.6%) $175,584 (28.5%) 0.00 73
    2022-09-01 $128,225 (36.3%) $160,488 (25.0%) 0.00 73
    2022-10-01 $129,900 (39.8%) $163,488 (23.8%) 0.00 74
    2022-11-01 $122,325 (50.6%) $140,094 (24.2%) 0.00 87
    2022-12-01 $117,500 (40.0%) $128,536 (11.1%) 0.00 82
    2023-01-01 $117,950 (38.8%) $141,861 (34.0%) 0.00 72
    2023-02-01 $123,700 (33.4%) $148,075 (18.6%) 0.00 66
    2023-03-01 $133,450 (14.3%) $171,270 (17.2%) 0.00 58
    2023-04-01 $131,400 (-1.8%) $173,610 (2.0%) 0.00 56
    2023-05-01 $134,500 (-7.0%) $168,393 (-0.6%) 0.00 55
    2023-06-01 $114,950 (-22.1%) $147,171 (-18.3%) 0.00 56
    2023-07-01 $111,250 (-17.0%) $148,511 (-14.1%) 0.00 49
    2023-08-01 $125,000 (-7.7%) $160,786 (-8.4%) 0.00 50
    2023-09-01 $124,950 (-2.6%) $172,622 (7.6%) 0.00 51
    2023-10-01 $123,380 (-5.0%) $167,939 (2.7%) 0.00 57
    2023-11-01 $124,225 (1.6%) $166,200 (18.6%) 0.00 60
    2023-12-01 $121,950 (3.8%) $165,725 (28.9%) 0.00 53
    2024-01-01 $123,700 (4.9%) $173,410 (22.2%) 0.00 56
    2024-02-01 $134,075 (8.4%) $172,772 (16.7%) 0.00 54
    2024-03-01 $132,450 (-0.8%) $164,031 (-4.2%) 0.00 61
    2024-04-01 $128,517 (-2.2%) $156,536 (-9.8%) 0.00 62
    2024-05-01 $128,675 (-4.3%) $171,377 (1.8%) 0.00 76
    2024-06-01 $125,000 (8.7%) $168,752 (14.7%) 0.00 81
    2024-07-01 $136,750 (22.9%) $171,033 (15.2%) 0.00 75
    2024-08-01 $137,500 (10.0%) $181,360 (12.8%) 0.00 76
    2024-09-01 $133,225 (6.6%) $178,773 (3.6%) 0.00 77
    2024-10-01 $136,000 (10.2%) $175,498 (4.5%) 0.00 106
    2024-11-01 $124,900 (0.5%) $176,966 (6.5%) 0.00 101
    2024-12-01 $131,150 (7.5%) $168,839 (1.9%) 0.00 98
    2025-01-01 $129,900 (5.0%) $168,707 (-2.7%) 0.00 91
    Fort Madison's median listing price for 2025-01-01 was $129,900, a difference of $6,200 (5.0%) versus the prior year and $-1,250 versus the prior month.

    Fort Madison's median listing price comes in at 0% of the national average.

    Fort Madison's average listing price for 2025-01-01 was $168,707, a difference of $-4,703 (-2.7%) versus the prior year and $-132 versus the prior month.

    For the 2025-01-01 period, Fort Madison had 91 MLS listings, a difference of -7 listings (-7%) versus the prior month and 35 listings (63%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,627 sqft
    2018-02-01 0 days 1,643 sqft
    2018-03-01 0 days 1,572 sqft
    2018-04-01 0 days 1,515 sqft
    2018-05-01 0 days 1,500 sqft
    2018-06-01 0 days 1,517 sqft
    2018-07-01 0 days 1,510 sqft
    2018-08-01 0 days 1,522 sqft
    2018-09-01 0 days 1,511 sqft
    2018-10-01 0 days 1,475 sqft
    2018-11-01 0 days 1,500 sqft
    2018-12-01 0 days 1,500 sqft
    2019-01-01 0 days 1,437 sqft
    2019-02-01 0 days 1,447 sqft
    2019-03-01 0 days 1,509 sqft
    2019-04-01 0 days 1,513 sqft
    2019-05-01 0 days 1,455 sqft
    2019-06-01 0 days 1,502 sqft
    2019-07-01 0 days 1,550 sqft
    2019-08-01 0 days 1,525 sqft
    2019-09-01 0 days 1,498 sqft
    2019-10-01 0 days 1,506 sqft
    2019-11-01 0 days 1,491 sqft
    2019-12-01 0 days 1,422 sqft
    2020-01-01 0 days 1,879 sqft
    2020-02-01 0 days 1,444 sqft
    2020-03-01 0 days 1,425 sqft
    2020-04-01 0 days 1,424 sqft
    2020-05-01 0 days 1,428 sqft
    2020-06-01 0 days 1,407 sqft
    2020-07-01 0 days 1,442 sqft
    2020-08-01 0 days 1,463 sqft
    2020-09-01 0 days 1,440 sqft
    2020-10-01 0 days 1,400 sqft
    2020-11-01 0 days 1,476 sqft
    2020-12-01 0 days 1,557 sqft
    2021-01-01 0 days 1,461 sqft
    2021-02-01 0 days 1,496 sqft
    2021-03-01 0 days 1,564 sqft
    2021-04-01 0 days 1,387 sqft
    2021-05-01 0 days 1,472 sqft
    2021-06-01 0 days 1,440 sqft
    2021-07-01 0 days 1,456 sqft
    2021-08-01 0 days 1,542 sqft
    2021-09-01 0 days 1,585 sqft
    2021-10-01 0 days 1,585 sqft
    2021-11-01 0 days 1,428 sqft
    2021-12-01 0 days 1,421 sqft
    2022-01-01 0 days 1,446 sqft
    2022-02-01 0 days 1,502 sqft
    2022-03-01 0 days 1,637 sqft
    2022-04-01 0 days 1,635 sqft
    2022-05-01 0 days 1,532 sqft
    2022-06-01 0 days 1,526 sqft
    2022-07-01 0 days 1,404 sqft
    2022-08-01 0 days 1,409 sqft
    2022-09-01 0 days 1,334 sqft
    2022-10-01 0 days 1,404 sqft
    2022-11-01 0 days 1,454 sqft
    2022-12-01 0 days 1,477 sqft
    2023-01-01 0 days 1,478 sqft
    2023-02-01 0 days 1,482 sqft
    2023-03-01 0 days 1,571 sqft
    2023-04-01 0 days 1,489 sqft
    2023-05-01 0 days 1,423 sqft
    2023-06-01 0 days 1,403 sqft
    2023-07-01 0 days 1,403 sqft
    2023-08-01 0 days 1,466 sqft
    2023-09-01 0 days 1,379 sqft
    2023-10-01 0 days 1,371 sqft
    2023-11-01 0 days 1,489 sqft
    2023-12-01 0 days 1,474 sqft
    2024-01-01 0 days 1,465 sqft
    2024-02-01 0 days 1,447 sqft
    2024-03-01 0 days 1,436 sqft
    2024-04-01 0 days 1,376 sqft
    2024-05-01 0 days 1,423 sqft
    2024-06-01 0 days 1,427 sqft
    2024-07-01 0 days 1,496 sqft
    2024-08-01 0 days 1,503 sqft
    2024-09-01 0 days 1,496 sqft
    2024-10-01 0 days 1,533 sqft
    2024-11-01 0 days 1,484 sqft
    2024-12-01 0 days 1,540 sqft
    2025-01-01 0 days 1,443 sqft
    Fort Madison's median listing age (time on market) for 2025-01-01 was 0 days.

    Fort Madison's median square footage for active listings during the 2025-01-01 period was 1,443 sqft. One year prior, the average listing was 1,465 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.