Iron Mountain VA Loan Rates, Closing Costs & Stats

Iron Mountain, MI-WI

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.

Iron Mountain's 14 lenders originated 53 VA loans during 2022. The total origination value was $10,575,000, with an average VA loan value of $199,528.

Iron Mountain VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Iron Mountain averaged 6.36% for the week of 2024-03-15, compared to the national average (all VA variants) of 6.439% for the same period.

Iron Mountain's average VA mortgage closing costs are $3,695.

The average rate for the prior week (2024-03-08) was 6.17% and one month ago for the week of 2024-02-09, the average rate was 6.04%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2024-03-15, the average rate was 6.44%.

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

Iron Mountain 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 Iron Mountain level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 19 4.76% $5,183
Flagstar Bank, FSB 10 5.20% $2,659
QUICKEN LOANS, LLC 5 4.77% $9,646
Wells Fargo Bank 2 3.56% $3,217
Mr. Cooper ( Nationstar Mortgage ) 2 5.13% $10,703
NEW DAY FINANCIAL, LLC 2 4.50% $6,630
NAVY FEDERAL CREDIT UNION 2 4.63% $2,574
HOME POINT FINANCIAL CORPORATION 2 4.63% $4,130
LAKEVIEW LOAN SERVICING, LLC 2 3.75% $2,999
M&T Bank 1 3.75% $12,499
Carrington Mortgage Services, LLC 1 4.88% $0
AMERISAVE MORTGAGE CORPORATION 1 3.63% $18,423
PENNYMAC LOAN SERVICES, LLC 1 3.25% $2,531
RELIANCE FIRST CAPITAL, LLC 1 5.75% $5,014

The top Iron Mountain VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $5,183, which is $2,523 higher than the next largest lender, Flagstar Bank, FSB.

The lowest fee Iron Mountain VA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($2,659), Mortgage Research Center, LLC ($5,183), .

The lowest rate Iron Mountain VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (4.76%), Flagstar Bank, FSB (5.20%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Iron Mountain (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 $129,900 (18.2%) $174,268 (10.0%) 0.00 189
2018-02-01 $135,000 (8.1%) $181,639 (6.5%) 0.00 197
2018-03-01 $139,000 (5.0%) $186,136 (8.5%) 0.00 195
2018-04-01 $139,400 (0.3%) $189,205 (7.9%) 0.00 203
2018-05-01 $139,900 (0.0%) $189,662 (9.1%) 0.00 229
2018-06-01 $145,900 (4.3%) $198,473 (9.6%) 0.00 236
2018-07-01 $157,000 (13.0%) $202,960 (13.3%) 0.00 248
2018-08-01 $153,350 (11.6%) $198,834 (10.8%) 0.00 268
2018-09-01 $149,900 (7.8%) $200,477 (13.0%) 0.00 250
2018-10-01 $149,900 (12.8%) $198,194 (9.7%) 0.00 233
2018-11-01 $146,200 (12.6%) $195,759 (9.0%) 0.00 228
2018-12-01 $145,000 (11.8%) $192,085 (10.9%) 0.00 203
2019-01-01 $139,900 (7.7%) $186,024 (6.8%) 0.00 178
2019-02-01 $138,725 (2.8%) $186,608 (2.7%) 0.00 168
2019-03-01 $143,043 (2.9%) $190,547 (2.4%) 0.00 162
2019-04-01 $149,900 (7.5%) $202,515 (7.0%) 0.00 160
2019-05-01 $150,550 (7.6%) $211,889 (11.7%) 0.00 161
2019-06-01 $149,900 (2.7%) $214,756 (8.2%) 0.00 177
2019-07-01 $149,900 (-4.5%) $211,684 (4.3%) 0.00 200
2019-08-01 $145,264 (-5.3%) $208,905 (5.1%) 0.00 197
2019-09-01 $138,309 (-7.7%) $202,837 (1.2%) 0.00 196
2019-10-01 $132,150 (-11.8%) $198,792 (0.3%) 0.00 197
2019-11-01 $129,900 (-11.2%) $200,746 (2.6%) 0.00 194
2019-12-01 $129,900 (-10.4%) $200,979 (4.6%) 0.00 179
2020-01-01 $133,725 (-4.4%) $201,128 (8.1%) 0.00 154
2020-02-01 $132,900 (-4.2%) $206,783 (10.8%) 0.00 141
2020-03-01 $142,400 (-0.5%) $218,264 (14.6%) 0.00 129
2020-04-01 $147,225 (-1.8%) $247,139 (22.0%) 0.00 123
2020-05-01 $145,000 (-3.7%) $257,270 (21.4%) 0.00 126
2020-06-01 $146,250 (-2.4%) $260,336 (21.2%) 0.00 121
2020-07-01 $175,975 (17.4%) $269,449 (27.3%) 0.00 131
2020-08-01 $149,900 (3.2%) $252,877 (21.1%) 0.00 126
2020-09-01 $155,500 (12.4%) $265,207 (30.8%) 0.00 113
2020-10-01 $142,400 (7.8%) $252,985 (27.3%) 0.00 105
2020-11-01 $143,650 (10.6%) $244,219 (21.7%) 0.00 107
2020-12-01 $139,900 (7.7%) $255,812 (27.3%) 0.00 90
2021-01-01 $144,900 (8.4%) $271,993 (35.2%) 0.00 70
2021-02-01 $144,925 (9.1%) $297,133 (43.7%) 0.00 60
2021-03-01 $157,400 (10.5%) $315,133 (44.4%) 0.00 55
2021-04-01 $169,000 (14.8%) $277,165 (12.2%) 0.00 53
2021-05-01 $174,000 (20.0%) $255,000 (-0.9%) 0.00 55
2021-06-01 $179,000 (22.4%) $334,206 (28.4%) 0.00 64
2021-07-01 $180,850 (2.8%) $374,041 (38.8%) 0.00 69
2021-08-01 $174,225 (16.2%) $336,955 (33.3%) 0.00 81
2021-09-01 $171,725 (10.4%) $327,174 (23.4%) 0.00 83
2021-10-01 $179,900 (26.3%) $348,493 (37.8%) 0.00 80
2021-11-01 $165,700 (15.4%) $346,183 (41.8%) 0.00 66
2021-12-01 $169,975 (21.5%) $359,310 (40.5%) 0.00 59
2022-01-01 $164,900 (13.8%) $364,190 (33.9%) 0.00 48
2022-02-01 $176,750 (22.0%) $395,288 (33.0%) 0.00 42
2022-03-01 $228,000 (44.9%) $492,293 (56.2%) 0.00 30
2022-04-01 $265,500 (57.1%) $481,715 (73.8%) 0.00 37
2022-05-01 $168,750 (-3.0%) $438,481 (72.0%) 0.00 45
2022-06-01 $179,500 (0.3%) $393,319 (17.7%) 0.00 52
2022-07-01 $214,900 (18.8%) $338,187 (-9.6%) 0.00 59
2022-08-01 $214,900 (23.4%) $309,530 (-8.1%) 0.00 77
2022-09-01 $187,300 (9.1%) $287,875 (-12.0%) 0.00 79
2022-10-01 $197,450 (9.8%) $285,369 (-18.1%) 0.00 78
2022-11-01 $199,900 (20.6%) $287,402 (-17.0%) 0.00 61
2022-12-01 $179,000 (5.3%) $261,095 (-27.3%) 0.00 59
2023-01-01 $189,225 (14.8%) $259,025 (-28.9%) 0.00 52
2023-02-01 $186,725 (5.6%) $319,666 (-19.1%) 0.00 41
2023-03-01 $186,000 (-18.4%) $308,730 (-37.3%) 0.00 48
2023-04-01 $189,450 (-28.6%) $307,283 (-36.2%) 0.00 45
2023-05-01 $202,450 (20.0%) $309,473 (-29.4%) 0.00 46
2023-06-01 $189,225 (5.4%) $316,833 (-19.5%) 0.00 50
2023-07-01 $192,400 (-10.5%) $332,781 (-1.6%) 0.00 52
2023-08-01 $189,225 (-12.0%) $254,465 (-17.8%) 0.00 60
2023-09-01 $189,900 (1.4%) $333,280 (15.8%) 0.00 60
2023-10-01 $182,750 (-7.4%) $315,905 (10.7%) 0.00 68
2023-11-01 $175,925 (-12.0%) $262,372 (-8.7%) 0.00 62
2023-12-01 $172,250 (-3.8%) $251,491 (-3.7%) 0.00 60
2024-01-01 $164,900 (-12.9%) $242,888 (-6.2%) 0.00 56
Iron Mountain's median listing price for 2024-01-01 was $164,900, a difference of $-24,325 (-12.9%) versus the prior year and $-7,350 versus the prior month.

Iron Mountain's median listing price comes in at 0% of the national average.

Iron Mountain's average listing price for 2024-01-01 was $242,888, a difference of $-16,137 (-6.2%) versus the prior year and $-8,603 versus the prior month.

For the 2024-01-01 period, Iron Mountain had 56 MLS listings, a difference of -4 listings (-7%) versus the prior month and 4 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Iron Mountain (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,424 sqft
2018-02-01 0 days 1,489 sqft
2018-03-01 0 days 1,550 sqft
2018-04-01 0 days 1,558 sqft
2018-05-01 0 days 1,551 sqft
2018-06-01 0 days 1,566 sqft
2018-07-01 0 days 1,565 sqft
2018-08-01 0 days 1,566 sqft
2018-09-01 0 days 1,595 sqft
2018-10-01 0 days 1,600 sqft
2018-11-01 0 days 1,593 sqft
2018-12-01 0 days 1,566 sqft
2019-01-01 0 days 1,514 sqft
2019-02-01 0 days 1,507 sqft
2019-03-01 0 days 1,568 sqft
2019-04-01 0 days 1,665 sqft
2019-05-01 0 days 1,621 sqft
2019-06-01 0 days 1,596 sqft
2019-07-01 0 days 1,593 sqft
2019-08-01 0 days 1,577 sqft
2019-09-01 0 days 1,584 sqft
2019-10-01 0 days 1,562 sqft
2019-11-01 0 days 1,526 sqft
2019-12-01 0 days 1,488 sqft
2020-01-01 0 days 1,455 sqft
2020-02-01 0 days 1,456 sqft
2020-03-01 0 days 1,555 sqft
2020-04-01 0 days 1,562 sqft
2020-05-01 0 days 1,564 sqft
2020-06-01 0 days 1,571 sqft
2020-07-01 0 days 1,563 sqft
2020-08-01 0 days 1,548 sqft
2020-09-01 0 days 1,509 sqft
2020-10-01 0 days 1,491 sqft
2020-11-01 0 days 1,524 sqft
2020-12-01 0 days 1,535 sqft
2021-01-01 0 days 1,510 sqft
2021-02-01 0 days 1,508 sqft
2021-03-01 0 days 1,553 sqft
2021-04-01 0 days 1,575 sqft
2021-05-01 0 days 1,580 sqft
2021-06-01 0 days 1,560 sqft
2021-07-01 0 days 1,481 sqft
2021-08-01 0 days 1,557 sqft
2021-09-01 0 days 1,530 sqft
2021-10-01 0 days 1,488 sqft
2021-11-01 0 days 1,409 sqft
2021-12-01 0 days 1,396 sqft
2022-01-01 0 days 1,374 sqft
2022-02-01 0 days 1,442 sqft
2022-03-01 0 days 1,400 sqft
2022-04-01 0 days 1,618 sqft
2022-05-01 0 days 1,337 sqft
2022-06-01 0 days 1,429 sqft
2022-07-01 0 days 1,421 sqft
2022-08-01 0 days 1,535 sqft
2022-09-01 0 days 1,422 sqft
2022-10-01 0 days 1,482 sqft
2022-11-01 0 days 1,473 sqft
2022-12-01 0 days 1,512 sqft
2023-01-01 0 days 1,525 sqft
2023-02-01 0 days 1,443 sqft
2023-03-01 0 days 1,488 sqft
2023-04-01 0 days 1,581 sqft
2023-05-01 0 days 1,452 sqft
2023-06-01 0 days 1,519 sqft
2023-07-01 0 days 1,497 sqft
2023-08-01 0 days 1,500 sqft
2023-09-01 0 days 1,600 sqft
2023-10-01 0 days 1,633 sqft
2023-11-01 0 days 1,578 sqft
2023-12-01 0 days 1,510 sqft
2024-01-01 0 days 1,452 sqft
Iron Mountain's median listing age (time on market) for 2024-01-01 was 0 days.

Iron Mountain's median square footage for active listings during the 2024-01-01 period was 1,452 sqft. One year prior, the average listing was 1,525 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.