Grand Forks VA Loan Rates, Closing Costs & Stats

GRAND FORKS, 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.

    Grand Forks's 25 lenders originated 171 VA loans during 2024. The total origination value was $49,735,000, with an average VA loan value of $290,848.

    Grand Forks VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grand Forks averaged 0.06% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Grand Forks's average VA mortgage closing costs are $5,957.

    The average rate for the prior week (2025-06-13) was 6.61% and one month ago for the week of 2025-05-16, the average rate was 6.67%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.5%.

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

    Grand Forks 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 Grand Forks level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 49 6.11% $8,002
    Mortgage Research Center, LLC 27 6.28% $5,475
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 18 5.99% $7,937
    Barrington Bank & Trust Company, N.A. 10 5.71% $7,092
    USAA Federal Savings Bank 9 6.42% $5,057
    QUICKEN LOANS, LLC 6 6.33% $12,131
    FREEDOM MORTGAGE CORPORATION 6 6.37% $9,659
    NAVY FEDERAL CREDIT UNION 5 5.83% $6,770
    PENNYMAC LOAN SERVICES, LLC 3 5.63% $9,663
    Nations Lending Corporation 3 5.92% $6,612
    LAKEVIEW LOAN SERVICING, LLC 3 5.66% $7,883
    LOANDEPOT.COM, LLC 2 5.06% $3,557
    FIRST COMMUNITY CREDIT UNION 2 5.40% $5,257
    First International Bank & Trust 2 5.94% $12,336
    NBKC BANK 2 5.75% $10,804
    Service Federal Credit Union 2 5.81% $5,070
    Gate City Bank 1 5.25% $5,863
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $4,939
    NEWREZ LLC 1 6.25% $6,148
    Old National Bank 1 6.00% $12,378
    Flagstar Bank, FSB 1 6.25% $10,787
    Farmers Bank & Trust 1 6.25% $6,650
    Bremer Bank 1 5.95% $1,626
    Mr. Cooper ( Nationstar Mortgage ) 1 2.88% $969
    AmeriHome Mortgage Company, LLC 1 6.13% $3,640

    The top Grand Forks VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 49 VA loans originated. Their average total fees are $8,002, which is $2,527 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Grand Forks VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,475), Barrington Bank & Trust Company, N.A. ($7,092), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,937), UNITED WHOLESALE MORTGAGE, LLC ($8,002) and .

    The lowest rate Grand Forks VA lenders (with over 10 loans originated) are Barrington Bank & Trust Company, N.A. (5.71%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (5.99%), UNITED WHOLESALE MORTGAGE, LLC (6.11%), Mortgage Research Center, LLC (6.28%) and .

    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.