Garden City VA Loan Rates, Closing Costs & Stats

Garden City, KS

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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.

    Garden City's 9 lenders originated 23 VA loans during 2023. The total origination value was $5,845,000, with an average VA loan value of $254,130.

    Garden City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Garden City averaged 0.04% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Garden City's average VA mortgage closing costs are $5,146.

    The average rate for the prior week (2024-11-08) was 6.25% and one month ago for the week of 2024-10-11, the average rate was 6.21%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Garden City 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 Garden City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 8 6.72% $4,449
    QUICKEN LOANS, LLC 5 6.29% $10,328
    NEW DAY FINANCIAL, LLC 2 7.87% $5,990
    Landmark National Bank 2 6.69% $6,651
    The Federal Savings Bank 1 5.13% $12,170
    USAA Federal Savings Bank 1 6.25% $4,494
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $13,986
    NEWREZ LLC 1 6.25% $13,655
    Sunflower Bank 1 4.88% $8,462

    The top Garden City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $4,449, which is $5,878 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Garden City VA lenders (with over 10 loans originated) are .

    The lowest rate Garden City VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Garden City (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 $209,250 (-2.0%) $240,152 (2.0%) 0.00 76
    2018-02-01 $213,375 (-0.5%) $248,772 (1.3%) 0.00 73
    2018-03-01 $215,000 (-3.1%) $253,522 (1.3%) 0.00 70
    2018-04-01 $211,725 (-1.5%) $248,634 (-0.9%) 0.00 69
    2018-05-01 $214,000 (-1.7%) $250,368 (-4.6%) 0.00 75
    2018-06-01 $215,000 (-1.7%) $246,513 (-5.5%) 0.00 78
    2018-07-01 $218,450 (-0.7%) $255,416 (-5.5%) 0.00 79
    2018-08-01 $218,475 (-4.8%) $253,337 (-4.3%) 0.00 69
    2018-09-01 $219,450 (-2.5%) $263,349 (3.0%) 0.00 65
    2018-10-01 $219,950 (0.4%) $257,532 (2.0%) 0.00 75
    2018-11-01 $229,800 (6.3%) $265,960 (6.4%) 0.00 72
    2018-12-01 $229,500 (5.5%) $253,656 (1.4%) 0.00 75
    2019-01-01 $194,125 (-7.2%) $236,984 (-1.3%) 0.00 77
    2019-02-01 $213,100 (-0.1%) $244,479 (-1.7%) 0.00 71
    2019-03-01 $219,679 (2.2%) $250,984 (-1.0%) 0.00 68
    2019-04-01 $213,125 (0.7%) $240,682 (-3.2%) 0.00 71
    2019-05-01 $201,000 (-6.1%) $225,602 (-9.9%) 0.00 91
    2019-06-01 $192,250 (-10.6%) $233,828 (-5.2%) 0.00 86
    2019-07-01 $209,125 (-4.3%) $268,149 (5.0%) 0.00 93
    2019-08-01 $220,155 (0.8%) $269,180 (6.3%) 0.00 93
    2019-09-01 $236,886 (8.0%) $269,813 (2.5%) 0.00 98
    2019-10-01 $248,041 (12.8%) $270,235 (4.9%) 0.00 100
    2019-11-01 $242,500 (5.5%) $250,818 (-5.7%) 0.00 96
    2019-12-01 $234,925 (2.4%) $241,352 (-4.9%) 0.00 89
    2020-01-01 $232,475 (19.8%) $239,329 (1.0%) 0.00 84
    2020-02-01 $209,000 (-1.9%) $233,394 (-4.5%) 0.00 67
    2020-03-01 $212,950 (-3.1%) $232,302 (-7.4%) 0.00 70
    2020-04-01 $196,075 (-8.0%) $227,224 (-5.6%) 0.00 74
    2020-05-01 $218,000 (8.5%) $240,513 (6.6%) 0.00 69
    2020-06-01 $225,500 (17.3%) $249,719 (6.8%) 0.00 58
    2020-07-01 $238,225 (13.9%) $248,994 (-7.1%) 0.00 47
    2020-08-01 $247,450 (12.4%) $267,679 (-0.6%) 0.00 39
    2020-09-01 $232,250 (-2.0%) $251,934 (-6.6%) 0.00 41
    2020-10-01 $239,900 (-3.3%) $259,793 (-3.9%) 0.00 39
    2020-11-01 $242,000 (-0.2%) $273,019 (8.9%) 0.00 45
    2020-12-01 $218,675 (-6.9%) $245,740 (1.8%) 0.00 52
    2021-01-01 $224,700 (-3.3%) $255,166 (6.6%) 0.00 47
    2021-02-01 $240,425 (15.0%) $262,541 (12.5%) 0.00 46
    2021-03-01 $244,450 (14.8%) $267,029 (15.0%) 0.00 35
    2021-04-01 $235,950 (20.3%) $267,664 (17.8%) 0.00 26
    2021-05-01 $245,000 (12.4%) $263,663 (9.6%) 0.00 24
    2021-06-01 $244,000 (8.2%) $246,596 (-1.3%) 0.00 19
    2021-07-01 $258,900 (8.7%) $277,664 (11.5%) 0.00 30
    2021-08-01 $223,725 (-9.6%) $272,135 (1.7%) 0.00 34
    2021-09-01 $222,500 (-4.2%) $280,726 (11.4%) 0.00 31
    2021-10-01 $220,000 (-8.3%) $274,161 (5.5%) 0.00 29
    2021-11-01 $219,750 (-9.2%) $277,199 (1.5%) 0.00 30
    2021-12-01 $216,475 (-1.0%) $272,234 (10.8%) 0.00 26
    2022-01-01 $185,000 (-17.7%) $261,230 (2.4%) 0.00 29
    2022-02-01 $247,250 (2.8%) $274,507 (4.6%) 0.00 30
    2022-03-01 $251,225 (2.8%) $276,924 (3.7%) 0.00 28
    2022-04-01 $263,000 (11.5%) $278,247 (4.0%) 0.00 29
    2022-05-01 $258,975 (5.7%) $296,361 (12.4%) 0.00 33
    2022-06-01 $282,000 (15.6%) $309,275 (25.4%) 0.00 45
    2022-07-01 $304,288 (17.5%) $358,159 (29.0%) 0.00 45
    2022-08-01 $319,594 (42.9%) $356,187 (30.9%) 0.00 51
    2022-09-01 $329,900 (48.3%) $353,009 (25.8%) 0.00 50
    2022-10-01 $297,450 (35.2%) $325,312 (18.7%) 0.00 55
    2022-11-01 $294,100 (33.8%) $305,671 (10.3%) 0.00 52
    2022-12-01 $269,900 (24.7%) $284,727 (4.6%) 0.00 46
    2023-01-01 $268,000 (44.9%) $276,599 (5.9%) 0.00 45
    2023-02-01 $266,000 (7.6%) $272,014 (-0.9%) 0.00 51
    2023-03-01 $269,000 (7.1%) $278,060 (0.4%) 0.00 55
    2023-04-01 $256,150 (-2.6%) $274,506 (-1.3%) 0.00 59
    2023-05-01 $259,575 (0.2%) $278,469 (-6.0%) 0.00 64
    2023-06-01 $255,250 (-9.5%) $273,307 (-11.6%) 0.00 76
    2023-07-01 $259,000 (-14.9%) $270,176 (-24.6%) 0.00 67
    2023-08-01 $262,500 (-17.9%) $272,126 (-23.6%) 0.00 70
    2023-09-01 $280,000 (-15.1%) $279,868 (-20.7%) 0.00 69
    2023-10-01 $280,000 (-5.9%) $281,467 (-13.5%) 0.00 81
    2023-11-01 $279,925 (-4.8%) $280,217 (-8.3%) 0.00 89
    2023-12-01 $279,900 (3.7%) $278,474 (-2.2%) 0.00 89
    2024-01-01 $283,675 (5.9%) $279,606 (1.1%) 0.00 91
    2024-02-01 $274,475 (3.2%) $276,431 (1.6%) 0.00 86
    2024-03-01 $279,900 (4.1%) $282,479 (1.6%) 0.00 87
    2024-04-01 $285,000 (11.3%) $286,159 (4.2%) 0.00 96
    2024-05-01 $285,000 (9.8%) $301,165 (8.2%) 0.00 98
    2024-06-01 $285,000 (11.7%) $301,939 (10.5%) 0.00 119
    2024-07-01 $278,750 (7.6%) $294,204 (8.9%) 0.00 113
    2024-08-01 $280,000 (6.7%) $298,670 (9.8%) 0.00 114
    2024-09-01 $289,200 (3.3%) $296,892 (6.1%) 0.00 109
    2024-10-01 $288,625 (3.1%) $303,451 (7.8%) 0.00 103
    Garden City's median listing price for 2024-10-01 was $288,625, a difference of $8,625 (3.1%) versus the prior year and $-575 versus the prior month.

    Garden City's median listing price comes in at 0% of the national average.

    Garden City's average listing price for 2024-10-01 was $303,451, a difference of $21,984 (7.8%) versus the prior year and $6,559 versus the prior month.

    For the 2024-10-01 period, Garden City had 103 MLS listings, a difference of -6 listings (-6%) versus the prior month and 22 listings (27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Garden City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,463 sqft
    2018-02-01 0 days 1,418 sqft
    2018-03-01 0 days 1,430 sqft
    2018-04-01 0 days 1,415 sqft
    2018-05-01 0 days 1,437 sqft
    2018-06-01 0 days 1,466 sqft
    2018-07-01 0 days 1,510 sqft
    2018-08-01 0 days 1,505 sqft
    2018-09-01 0 days 1,524 sqft
    2018-10-01 0 days 1,535 sqft
    2018-11-01 0 days 1,621 sqft
    2018-12-01 0 days 1,664 sqft
    2019-01-01 0 days 1,422 sqft
    2019-02-01 0 days 1,433 sqft
    2019-03-01 0 days 1,541 sqft
    2019-04-01 0 days 1,530 sqft
    2019-05-01 0 days 1,368 sqft
    2019-06-01 0 days 1,423 sqft
    2019-07-01 0 days 1,500 sqft
    2019-08-01 0 days 1,482 sqft
    2019-09-01 0 days 1,428 sqft
    2019-10-01 0 days 1,392 sqft
    2019-11-01 0 days 1,425 sqft
    2019-12-01 0 days 1,388 sqft
    2020-01-01 0 days 1,381 sqft
    2020-02-01 0 days 1,393 sqft
    2020-03-01 0 days 1,379 sqft
    2020-04-01 0 days 1,361 sqft
    2020-05-01 0 days 1,383 sqft
    2020-06-01 0 days 1,407 sqft
    2020-07-01 0 days 1,462 sqft
    2020-08-01 0 days 1,586 sqft
    2020-09-01 0 days 1,519 sqft
    2020-10-01 0 days 1,454 sqft
    2020-11-01 0 days 1,489 sqft
    2020-12-01 0 days 1,356 sqft
    2021-01-01 0 days 1,353 sqft
    2021-02-01 0 days 1,428 sqft
    2021-03-01 0 days 1,474 sqft
    2021-04-01 0 days 1,476 sqft
    2021-05-01 0 days 1,384 sqft
    2021-06-01 0 days 1,346 sqft
    2021-07-01 0 days 1,353 sqft
    2021-08-01 0 days 1,326 sqft
    2021-09-01 0 days 1,349 sqft
    2021-10-01 0 days 1,426 sqft
    2021-11-01 0 days 1,360 sqft
    2021-12-01 0 days 1,349 sqft
    2022-01-01 0 days 1,318 sqft
    2022-02-01 0 days 1,484 sqft
    2022-03-01 0 days 1,389 sqft
    2022-04-01 0 days 1,388 sqft
    2022-05-01 0 days 1,349 sqft
    2022-06-01 0 days 1,385 sqft
    2022-07-01 0 days 1,386 sqft
    2022-08-01 0 days 1,520 sqft
    2022-09-01 0 days 1,511 sqft
    2022-10-01 0 days 1,488 sqft
    2022-11-01 0 days 1,411 sqft
    2022-12-01 0 days 1,368 sqft
    2023-01-01 0 days 1,375 sqft
    2023-02-01 0 days 1,352 sqft
    2023-03-01 0 days 1,367 sqft
    2023-04-01 0 days 1,376 sqft
    2023-05-01 0 days 1,409 sqft
    2023-06-01 0 days 1,310 sqft
    2023-07-01 0 days 1,375 sqft
    2023-08-01 0 days 1,348 sqft
    2023-09-01 0 days 1,348 sqft
    2023-10-01 0 days 1,307 sqft
    2023-11-01 0 days 1,342 sqft
    2023-12-01 0 days 1,342 sqft
    2024-01-01 0 days 1,346 sqft
    2024-02-01 0 days 1,350 sqft
    2024-03-01 0 days 1,332 sqft
    2024-04-01 0 days 1,352 sqft
    2024-05-01 0 days 1,394 sqft
    2024-06-01 0 days 1,380 sqft
    2024-07-01 0 days 1,377 sqft
    2024-08-01 0 days 1,332 sqft
    2024-09-01 0 days 1,346 sqft
    2024-10-01 0 days 1,344 sqft
    Garden City's median listing age (time on market) for 2024-10-01 was 0 days.

    Garden City's median square footage for active listings during the 2024-10-01 period was 1,344 sqft. One year prior, the average listing was 1,307 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.