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 30 lenders originated 145 VA loans during 2023. The total origination value was $40,555,000, with an average VA loan value of $279,690.

    Grand Forks VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Grand Forks averaged 6.81% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Grand Forks's average VA mortgage closing costs are $5,796.

    The average rate for the prior week (2024-04-12) was 6.64% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.19%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 22 6.13% $8,283
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 22 6.67% $8,085
    Mortgage Research Center, LLC 16 6.86% $5,187
    USAA Federal Savings Bank 11 6.67% $5,673
    Barrington Bank & Trust Company, N.A. 8 6.15% $9,414
    Gate City Bank 8 5.97% $5,401
    QUICKEN LOANS, LLC 5 6.50% $11,942
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.56% $10,673
    Nations Lending Corporation 4 6.58% $5,078
    FREEDOM MORTGAGE CORPORATION 3 6.46% $7,845
    First International Bank & Trust 3 6.04% $4,740
    NBKC BANK 3 5.46% $3,368
    FIRST COMMUNITY CREDIT UNION 3 5.88% $7,641
    The Huntington National Bank 3 6.46% $10,758
    VILLAGE CAPITAL MORTGAGE 2 6.50% $9,156
    PENNYMAC LOAN SERVICES, LLC 2 6.13% $7,627
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $16,961
    NAVY FEDERAL CREDIT UNION 2 6.00% $1,399
    West Gate Bank 1 6.99% $3,390
    BROKER SOLUTIONS, INC. 1 6.25% $7,308
    CARDINAL FINANCIAL 1 5.50% $5,947
    JPMorgan Chase Bank 1 5.75% $2,856
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $13,726
    MOVEMENT MORTGAGE, LLC 1 6.13% $12,667
    NEW DAY FINANCIAL, LLC 1 8.38% $4,031
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $3,634
    Servion, Inc. 1 6.13% $3,429
    U.S. Bank 1 5.50% $3,955
    Wells Fargo Bank 1 4.88% $19,033
    Alerus Financial 1 6.25% $366

    The top Grand Forks VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 22 VA loans originated. Their average total fees are $8,283, which is $198 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Grand Forks VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,187), USAA Federal Savings Bank ($5,673), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,085), UNITED WHOLESALE MORTGAGE, LLC ($8,283) and .

    The lowest rate Grand Forks VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.13%), USAA Federal Savings Bank (6.67%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.67%), Mortgage Research Center, LLC (6.86%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Grand Forks (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 $237,350 (5.5%) $273,776 (5.2%) 0.00 368
    2018-02-01 $236,950 (5.4%) $272,224 (4.1%) 0.00 370
    2018-03-01 $249,500 (10.5%) $274,911 (3.5%) 0.00 388
    2018-04-01 $250,950 (8.0%) $282,320 (5.9%) 0.00 401
    2018-05-01 $259,675 (6.8%) $287,426 (5.4%) 0.00 428
    2018-06-01 $254,000 (5.3%) $280,172 (1.4%) 0.00 493
    2018-07-01 $245,000 (6.6%) $278,141 (2.1%) 0.00 507
    2018-08-01 $238,269 (3.8%) $272,520 (1.5%) 0.00 516
    2018-09-01 $225,000 (-4.2%) $264,301 (-3.3%) 0.00 517
    2018-10-01 $219,900 (-5.4%) $258,438 (-5.0%) 0.00 501
    2018-11-01 $219,900 (-6.4%) $257,171 (-5.2%) 0.00 481
    2018-12-01 $219,900 (-8.3%) $253,796 (-7.5%) 0.00 460
    2019-01-01 $211,500 (-10.9%) $245,148 (-10.5%) 0.00 413
    2019-02-01 $208,250 (-12.1%) $242,389 (-11.0%) 0.00 413
    2019-03-01 $216,657 (-13.2%) $246,456 (-10.4%) 0.00 439
    2019-04-01 $219,000 (-12.7%) $250,298 (-11.3%) 0.00 458
    2019-05-01 $217,650 (-16.2%) $251,230 (-12.6%) 0.00 480
    2019-06-01 $220,000 (-13.4%) $253,126 (-9.7%) 0.00 498
    2019-07-01 $215,450 (-12.1%) $244,430 (-12.1%) 0.00 482
    2019-08-01 $212,077 (-11.0%) $245,257 (-10.0%) 0.00 480
    2019-09-01 $213,693 (-5.0%) $247,055 (-6.5%) 0.00 484
    2019-10-01 $212,270 (-3.5%) $246,206 (-4.7%) 0.00 480
    2019-11-01 $206,750 (-6.0%) $240,716 (-6.4%) 0.00 468
    2019-12-01 $209,900 (-4.6%) $242,280 (-4.5%) 0.00 429
    2020-01-01 $211,900 (0.2%) $242,466 (-1.1%) 0.00 388
    2020-02-01 $209,000 (0.4%) $241,432 (-0.4%) 0.00 376
    2020-03-01 $219,175 (1.2%) $247,323 (0.4%) 0.00 368
    2020-04-01 $228,075 (4.1%) $254,556 (1.7%) 0.00 366
    2020-05-01 $234,900 (7.9%) $256,278 (2.0%) 0.00 358
    2020-06-01 $236,950 (7.7%) $264,067 (4.3%) 0.00 367
    2020-07-01 $231,400 (7.4%) $256,704 (5.0%) 0.00 377
    2020-08-01 $229,900 (8.4%) $256,582 (4.6%) 0.00 356
    2020-09-01 $229,375 (7.3%) $253,925 (2.8%) 0.00 342
    2020-10-01 $216,750 (2.1%) $249,396 (1.3%) 0.00 324
    2020-11-01 $199,900 (-3.3%) $239,769 (-0.4%) 0.00 308
    2020-12-01 $199,900 (-4.8%) $241,218 (-0.4%) 0.00 285
    2021-01-01 $199,500 (-5.9%) $236,943 (-2.3%) 0.00 247
    2021-02-01 $209,000 (0.0%) $262,683 (8.8%) 0.00 227
    2021-03-01 $224,250 (2.3%) $264,946 (7.1%) 0.00 215
    2021-04-01 $237,450 (4.1%) $282,391 (10.9%) 0.00 204
    2021-05-01 $249,900 (6.4%) $292,988 (14.3%) 0.00 180
    2021-06-01 $267,450 (12.9%) $302,910 (14.7%) 0.00 205
    2021-07-01 $249,900 (8.0%) $296,075 (15.3%) 0.00 204
    2021-08-01 $264,390 (15.0%) $289,628 (12.9%) 0.00 218
    2021-09-01 $276,985 (20.8%) $303,573 (19.6%) 0.00 230
    2021-10-01 $274,500 (26.6%) $300,440 (20.5%) 0.00 224
    2021-11-01 $285,000 (42.6%) $308,502 (28.7%) 0.00 215
    2021-12-01 $294,212 (47.2%) $315,129 (30.6%) 0.00 178
    2022-01-01 $297,425 (49.1%) $310,137 (30.9%) 0.00 163
    2022-02-01 $301,325 (44.2%) $305,529 (16.3%) 0.00 150
    2022-03-01 $320,003 (42.7%) $319,126 (20.5%) 0.00 146
    2022-04-01 $320,053 (34.8%) $321,326 (13.8%) 0.00 149
    2022-05-01 $309,900 (24.0%) $331,457 (13.1%) 0.00 167
    2022-06-01 $282,450 (5.6%) $317,670 (4.9%) 0.00 207
    2022-07-01 $269,900 (8.0%) $317,945 (7.4%) 0.00 251
    2022-08-01 $252,450 (-4.5%) $311,079 (7.4%) 0.00 249
    2022-09-01 $249,675 (-9.9%) $309,141 (1.8%) 0.00 235
    2022-10-01 $249,500 (-9.1%) $293,925 (-2.2%) 0.00 233
    2022-11-01 $259,900 (-8.8%) $295,066 (-4.4%) 0.00 238
    2022-12-01 $259,950 (-11.7%) $298,041 (-5.4%) 0.00 209
    2023-01-01 $260,000 (-12.6%) $301,392 (-2.8%) 0.00 198
    2023-02-01 $284,450 (-5.6%) $311,668 (2.0%) 0.00 166
    2023-03-01 $315,800 (-1.3%) $333,159 (4.4%) 0.00 166
    2023-04-01 $299,900 (-6.3%) $330,431 (2.8%) 0.00 166
    2023-05-01 $321,008 (3.6%) $368,123 (11.1%) 0.00 176
    2023-06-01 $314,925 (11.5%) $353,924 (11.4%) 0.00 207
    2023-07-01 $325,000 (20.4%) $361,802 (13.8%) 0.00 233
    2023-08-01 $318,675 (26.2%) $357,730 (15.0%) 0.00 238
    2023-09-01 $299,900 (20.1%) $351,138 (13.6%) 0.00 257
    2023-10-01 $308,125 (23.5%) $343,867 (17.0%) 0.00 264
    2023-11-01 $310,000 (19.3%) $343,690 (16.5%) 0.00 252
    2023-12-01 $310,000 (19.3%) $343,364 (15.2%) 0.00 236
    2024-01-01 $316,250 (21.6%) $345,893 (14.8%) 0.00 214
    2024-02-01 $324,250 (14.0%) $347,917 (11.6%) 0.00 199
    2024-03-01 $330,950 (4.8%) $356,950 (7.1%) 0.00 189
    Grand Forks's median listing price for 2024-03-01 was $330,950, a difference of $15,150 (4.8%) versus the prior year and $6,700 versus the prior month.

    Grand Forks's median listing price comes in at 0% of the national average.

    Grand Forks's average listing price for 2024-03-01 was $356,950, a difference of $23,791 (7.1%) versus the prior year and $9,033 versus the prior month.

    For the 2024-03-01 period, Grand Forks had 189 MLS listings, a difference of -10 listings (-5%) versus the prior month and 23 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grand Forks (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,214 sqft
    2018-02-01 0 days 2,223 sqft
    2018-03-01 0 days 2,268 sqft
    2018-04-01 0 days 2,320 sqft
    2018-05-01 0 days 2,340 sqft
    2018-06-01 0 days 2,336 sqft
    2018-07-01 0 days 2,314 sqft
    2018-08-01 0 days 2,300 sqft
    2018-09-01 0 days 2,262 sqft
    2018-10-01 0 days 2,258 sqft
    2018-11-01 0 days 2,233 sqft
    2018-12-01 0 days 2,180 sqft
    2019-01-01 0 days 2,173 sqft
    2019-02-01 0 days 2,114 sqft
    2019-03-01 0 days 2,114 sqft
    2019-04-01 0 days 2,114 sqft
    2019-05-01 0 days 2,120 sqft
    2019-06-01 0 days 2,144 sqft
    2019-07-01 0 days 2,102 sqft
    2019-08-01 0 days 2,105 sqft
    2019-09-01 0 days 2,109 sqft
    2019-10-01 0 days 2,112 sqft
    2019-11-01 0 days 2,108 sqft
    2019-12-01 0 days 2,088 sqft
    2020-01-01 0 days 2,075 sqft
    2020-02-01 0 days 2,031 sqft
    2020-03-01 0 days 2,087 sqft
    2020-04-01 0 days 2,119 sqft
    2020-05-01 0 days 2,112 sqft
    2020-06-01 0 days 2,157 sqft
    2020-07-01 0 days 2,158 sqft
    2020-08-01 0 days 2,160 sqft
    2020-09-01 0 days 2,182 sqft
    2020-10-01 0 days 2,184 sqft
    2020-11-01 0 days 2,180 sqft
    2020-12-01 0 days 2,181 sqft
    2021-01-01 0 days 2,120 sqft
    2021-02-01 0 days 2,183 sqft
    2021-03-01 0 days 2,183 sqft
    2021-04-01 0 days 2,183 sqft
    2021-05-01 0 days 2,184 sqft
    2021-06-01 0 days 2,200 sqft
    2021-07-01 0 days 2,160 sqft
    2021-08-01 0 days 2,176 sqft
    2021-09-01 0 days 2,171 sqft
    2021-10-01 0 days 2,042 sqft
    2021-11-01 0 days 2,042 sqft
    2021-12-01 0 days 2,042 sqft
    2022-01-01 0 days 2,042 sqft
    2022-02-01 0 days 2,042 sqft
    2022-03-01 0 days 2,042 sqft
    2022-04-01 0 days 2,042 sqft
    2022-05-01 0 days 2,042 sqft
    2022-06-01 0 days 2,042 sqft
    2022-07-01 0 days 2,042 sqft
    2022-08-01 0 days 2,042 sqft
    2022-09-01 0 days 2,042 sqft
    2022-10-01 0 days 2,042 sqft
    2022-11-01 0 days 2,106 sqft
    2022-12-01 0 days 2,114 sqft
    2023-01-01 0 days 2,074 sqft
    2023-02-01 0 days 2,098 sqft
    2023-03-01 0 days 2,125 sqft
    2023-04-01 0 days 2,168 sqft
    2023-05-01 0 days 2,183 sqft
    2023-06-01 0 days 2,267 sqft
    2023-07-01 0 days 2,311 sqft
    2023-08-01 0 days 2,216 sqft
    2023-09-01 0 days 2,184 sqft
    2023-10-01 0 days 2,135 sqft
    2023-11-01 0 days 2,174 sqft
    2023-12-01 0 days 2,178 sqft
    2024-01-01 0 days 2,130 sqft
    2024-02-01 0 days 2,111 sqft
    2024-03-01 0 days 2,194 sqft
    Grand Forks's median listing age (time on market) for 2024-03-01 was 0 days.

    Grand Forks's median square footage for active listings during the 2024-03-01 period was 2,194 sqft. One year prior, the average listing was 2,125 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.