Joplin VA Loan Rates, Closing Costs & Stats

JOPLIN, MO

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.

Joplin's 46 lenders originated 261 VA loans during 2023. The total origination value was $60,795,000, with an average VA loan value of $232,931.

Joplin VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Joplin averaged 6.59% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

Joplin's average VA mortgage closing costs are $4,552.

The average rate for the prior week (2024-05-31) was 7.1% and one month ago for the week of 2024-05-03, the average rate was 6.93%.

The average rate one year ago was 6.93%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.59%.

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

Joplin 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 Joplin level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 64 6.88% $3,886
FLAT BRANCH MORTGAGE, INC. 64 6.69% $6,098
QUICKEN LOANS, LLC 17 6.27% $8,370
NAVY FEDERAL CREDIT UNION 12 5.94% $3,060
Gateway First Bank 11 7.05% $5,485
USAA Federal Savings Bank 6 6.29% $4,978
NEW DAY FINANCIAL, LLC 6 7.56% $10,247
PENNYMAC LOAN SERVICES, LLC 6 5.33% $2,782
Southwest Missouri Bank 5 6.18% $5,617
Mr. Cooper ( Nationstar Mortgage ) 4 5.81% $10,290
FREEDOM MORTGAGE CORPORATION 3 6.58% $12,250
Arvest Bank 3 6.13% $5,299
LOANDEPOT.COM, LLC 3 7.29% $7,829
AMERISAVE MORTGAGE CORPORATION 3 5.71% $12,973
The Central Trust Bank 3 6.91% $4,699
UNITED WHOLESALE MORTGAGE, LLC 3 6.46% $5,134
U.S. Bank 3 6.83% $4,226
Barrington Bank & Trust Company, N.A. 3 6.33% $5,559
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.75% $11
Nations Lending Corporation 2 6.88% $4,694
GERSHMAN INVESTMENT CORP. 2 7.13% $5,648
DAS Acquisition Company, LLC 2 5.88% $7,650
BROKER SOLUTIONS, INC. 2 6.00% $9,050
VILLAGE CAPITAL MORTGAGE 2 6.25% $5,799
First Federal Bank 2 6.00% $9,696
Midwest Mortgage Associates Corporation 2 6.63% $9,156
Mortgage Investment Services Corporation 1 7.25% $9,142
BAY EQUITY LLC 1 6.50% $6,437
CARDINAL FINANCIAL 1 5.75% $7,115
Commerce Bank 1 6.50% $18,818
Equity Prime Mortgage LLC 1 7.50% $5,714
First Bank 1 5.75% $14,214
First Community Bank 1 6.00% $8,182
Great Southern Bank 1 6.49% $1,846
GSF Mortgage Corporation 1 4.63% $7,405
GUILD MORTGAGE COMPANY 1 7.13% $14,793
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $5,632
Magnolia Bank 1 6.75% $9,343
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $9,032
NEWREZ LLC 1 7.13% $6,400
Pinnacle Bank 1 6.13% $3,258
Plains Commerce Bank 1 6.25% $12,028
TOWNE MORTGAGE COMPANY 1 6.63% $10,007
UNITED 1 7.25% $3,622
Wells Fargo Bank 1 5.38% $0
ZILLOW HOME LOANS, LLC 1 6.63% $8,176

The top Joplin VA lender as defined by loan originations is Mortgage Research Center, LLC, with 64 VA loans originated. Their average total fees are $3,886, which is $2,212 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

The lowest fee Joplin VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,060), Mortgage Research Center, LLC ($3,886), Gateway First Bank ($5,485), FLAT BRANCH MORTGAGE, INC. ($6,098) and QUICKEN LOANS, LLC ($8,370).

The lowest rate Joplin VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.94%), QUICKEN LOANS, LLC (6.27%), FLAT BRANCH MORTGAGE, INC. (6.69%), Mortgage Research Center, LLC (6.88%) and Gateway First Bank (7.05%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Joplin (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 $135,000 (13.1%) $182,212 (6.4%) 0.50 707
2018-02-01 $138,926 (14.4%) $183,818 (5.1%) 0.50 690
2018-03-01 $139,989 (14.6%) $186,819 (5.1%) 0.49 715
2018-04-01 $149,800 (19.0%) $190,208 (3.5%) 0.51 730
2018-05-01 $149,900 (14.3%) $188,465 (-1.5%) 0.50 710
2018-06-01 $149,900 (14.1%) $193,934 (1.1%) 0.50 736
2018-07-01 $149,900 (9.3%) $191,596 (0.0%) 0.50 749
2018-08-01 $149,900 (10.7%) $185,822 (-1.6%) 0.50 904
2018-09-01 $149,873 (8.7%) $185,615 (-0.7%) 0.50 937
2018-10-01 $153,475 (13.7%) $191,085 (1.9%) 0.52 882
2018-11-01 $149,873 (11.0%) $187,404 (-0.2%) 0.51 905
2018-12-01 $149,873 (11.1%) $186,807 (2.5%) 0.52 846
2019-01-01 $146,034 (8.2%) $183,982 (1.0%) 0.50 762
2019-02-01 $151,125 (8.8%) $188,236 (2.4%) 0.51 711
2019-03-01 $154,900 (10.7%) $191,354 (2.4%) 0.51 677
2019-04-01 $155,700 (3.9%) $194,558 (2.3%) 0.49 648
2019-05-01 $157,474 (5.1%) $196,822 (4.4%) 0.49 634
2019-06-01 $150,000 (0.1%) $197,295 (1.7%) 0.47 638
2019-07-01 $156,525 (4.4%) $195,627 (2.1%) 0.49 676
2019-08-01 $156,782 (4.6%) $194,111 (4.5%) 0.50 668
2019-09-01 $155,555 (3.8%) $193,290 (4.1%) 0.50 650
2019-10-01 $156,936 (2.3%) $193,807 (1.4%) 0.51 640
2019-11-01 $154,600 (3.2%) $193,869 (3.5%) 0.51 645
2019-12-01 $154,950 (3.4%) $196,519 (5.2%) 0.52 628
2020-01-01 $157,500 (7.9%) $196,870 (7.0%) 0.53 574
2020-02-01 $154,900 (2.5%) $198,448 (5.4%) 0.51 530
2020-03-01 $159,842 (3.2%) $201,673 (5.4%) 0.50 507
2020-04-01 $151,000 (-3.0%) $202,502 (4.1%) 0.47 536
2020-05-01 $159,900 (1.5%) $210,739 (7.1%) 0.49 483
2020-06-01 $165,000 (10.0%) $217,156 (10.1%) 0.49 459
2020-07-01 $166,163 (6.2%) $225,705 (15.4%) 0.48 430
2020-08-01 $179,602 (14.6%) $242,244 (24.8%) 0.51 364
2020-09-01 $182,400 (17.3%) $251,225 (30.0%) 0.52 360
2020-10-01 $169,900 (8.3%) $233,206 (20.3%) 0.49 378
2020-11-01 $159,900 (3.4%) $236,202 (21.8%) 0.47 379
2020-12-01 $158,700 (2.4%) $238,826 (21.5%) 0.47 368
2021-01-01 $160,700 (2.0%) $252,718 (28.4%) 0.48 320
2021-02-01 $172,475 (11.4%) $278,370 (40.3%) 0.50 268
2021-03-01 $195,975 (22.6%) $279,884 (38.8%) 0.56 269
2021-04-01 $196,950 (30.4%) $274,177 (35.4%) 0.53 267
2021-05-01 $174,900 (9.4%) $284,555 (35.0%) 0.46 232
2021-06-01 $179,100 (8.6%) $291,694 (34.3%) 0.47 253
2021-07-01 $179,900 (8.3%) $265,103 (17.5%) 0.47 300
2021-08-01 $192,200 (7.0%) $270,187 (11.5%) 0.51 323
2021-09-01 $202,229 (10.9%) $257,326 (2.4%) 0.54 368
2021-10-01 $207,000 (21.8%) $257,773 (10.5%) 0.55 378
2021-11-01 $213,075 (33.3%) $270,053 (14.3%) 0.57 348
2021-12-01 $216,975 (36.7%) $289,033 (21.0%) 0.59 288
2022-01-01 $219,950 (36.9%) $290,009 (14.8%) 0.59 230
2022-02-01 $229,925 (33.3%) $291,274 (4.6%) 0.60 196
2022-03-01 $234,750 (19.8%) $303,826 (8.6%) 0.59 187
2022-04-01 $224,900 (14.2%) $292,363 (6.6%) 0.54 239
2022-05-01 $222,225 (27.1%) $299,561 (5.3%) 0.51 255
2022-06-01 $207,500 (15.9%) $282,939 (-3.0%) 0.46 330
2022-07-01 $200,975 (11.7%) $272,227 (2.7%) 0.45 402
2022-08-01 $207,950 (8.2%) $268,259 (-0.7%) 0.48 402
2022-09-01 $229,675 (13.6%) $272,985 (6.1%) 0.54 411
2022-10-01 $224,000 (8.2%) $291,967 (13.3%) 0.53 425
2022-11-01 $224,806 (5.5%) $293,466 (8.7%) 0.54 463
2022-12-01 $219,950 (1.4%) $285,879 (-1.1%) 0.54 431
2023-01-01 $227,272 (3.3%) $313,870 (8.2%) 0.56 371
2023-02-01 $236,705 (3.0%) $339,502 (16.6%) 0.57 321
2023-03-01 $249,901 (6.5%) $354,355 (16.6%) 0.59 319
2023-04-01 $249,950 (11.1%) $352,191 (20.5%) 0.58 339
2023-05-01 $253,597 (14.1%) $356,556 (19.0%) 0.58 335
2023-06-01 $262,000 (26.3%) $383,192 (35.4%) 0.59 351
2023-07-01 $259,605 (29.2%) $359,358 (32.0%) 0.59 377
2023-08-01 $247,450 (19.0%) $384,480 (43.3%) 0.57 416
2023-09-01 $249,900 (8.8%) $393,834 (44.3%) 0.58 400
2023-10-01 $252,000 (12.5%) $377,472 (29.3%) 0.59 457
2023-11-01 $256,382 (14.1%) $391,571 (33.4%) 0.61 467
2023-12-01 $254,500 (15.7%) $386,685 (35.3%) 0.62 470
2024-01-01 $260,750 (14.7%) $391,144 (24.6%) 0.64 446
2024-02-01 $254,978 (7.7%) $406,430 (19.7%) 0.61 401
2024-03-01 $253,000 (1.2%) $427,870 (20.8%) 0.60 405
2024-04-01 $254,051 (1.6%) $403,600 (14.6%) 0.59 419
2024-05-01 $257,945 (1.7%) $399,569 (12.1%) 0.58 432
Joplin's median listing price for 2024-05-01 was $257,945, a difference of $4,348 (1.7%) versus the prior year and $3,894 versus the prior month.

Joplin's median listing price comes in at 58% of the national average.

Joplin's average listing price for 2024-05-01 was $399,569, a difference of $43,013 (12.1%) versus the prior year and $-4,031 versus the prior month.

For the 2024-05-01 period, Joplin had 432 MLS listings, a difference of 13 listings (3%) versus the prior month and 97 listings (29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Joplin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 76 days 1,785 sqft
2018-02-01 76 days 1,770 sqft
2018-03-01 54 days 1,785 sqft
2018-04-01 53 days 1,824 sqft
2018-05-01 57 days 1,843 sqft
2018-06-01 54 days 1,860 sqft
2018-07-01 60 days 1,875 sqft
2018-08-01 54 days 1,823 sqft
2018-09-01 57 days 1,800 sqft
2018-10-01 67 days 1,858 sqft
2018-11-01 67 days 1,850 sqft
2018-12-01 67 days 1,822 sqft
2019-01-01 74 days 1,796 sqft
2019-02-01 83 days 1,811 sqft
2019-03-01 69 days 1,797 sqft
2019-04-01 53 days 1,785 sqft
2019-05-01 50 days 1,824 sqft
2019-06-01 53 days 1,805 sqft
2019-07-01 54 days 1,828 sqft
2019-08-01 56 days 1,828 sqft
2019-09-01 58 days 1,812 sqft
2019-10-01 57 days 1,809 sqft
2019-11-01 57 days 1,809 sqft
2019-12-01 71 days 1,813 sqft
2020-01-01 73 days 1,826 sqft
2020-02-01 66 days 1,820 sqft
2020-03-01 54 days 1,810 sqft
2020-04-01 45 days 1,789 sqft
2020-05-01 51 days 1,800 sqft
2020-06-01 52 days 1,865 sqft
2020-07-01 40 days 1,855 sqft
2020-08-01 37 days 1,934 sqft
2020-09-01 44 days 1,995 sqft
2020-10-01 32 days 1,874 sqft
2020-11-01 42 days 1,840 sqft
2020-12-01 51 days 1,842 sqft
2021-01-01 57 days 1,924 sqft
2021-02-01 61 days 1,965 sqft
2021-03-01 42 days 1,985 sqft
2021-04-01 35 days 1,896 sqft
2021-05-01 29 days 1,908 sqft
2021-06-01 26 days 1,905 sqft
2021-07-01 28 days 1,800 sqft
2021-08-01 30 days 1,844 sqft
2021-09-01 30 days 1,815 sqft
2021-10-01 44 days 1,889 sqft
2021-11-01 45 days 1,870 sqft
2021-12-01 51 days 1,848 sqft
2022-01-01 53 days 1,950 sqft
2022-02-01 28 days 1,949 sqft
2022-03-01 19 days 1,813 sqft
2022-04-01 19 days 1,750 sqft
2022-05-01 30 days 1,753 sqft
2022-06-01 27 days 1,743 sqft
2022-07-01 32 days 1,742 sqft
2022-08-01 39 days 1,697 sqft
2022-09-01 45 days 1,751 sqft
2022-10-01 44 days 1,760 sqft
2022-11-01 43 days 1,750 sqft
2022-12-01 51 days 1,705 sqft
2023-01-01 72 days 1,750 sqft
2023-02-01 66 days 1,764 sqft
2023-03-01 37 days 1,800 sqft
2023-04-01 31 days 1,768 sqft
2023-05-01 38 days 1,787 sqft
2023-06-01 38 days 1,920 sqft
2023-07-01 37 days 1,850 sqft
2023-08-01 38 days 1,818 sqft
2023-09-01 45 days 1,855 sqft
2023-10-01 42 days 1,864 sqft
2023-11-01 48 days 1,863 sqft
2023-12-01 57 days 1,830 sqft
2024-01-01 66 days 1,804 sqft
2024-02-01 65 days 1,793 sqft
2024-03-01 54 days 1,781 sqft
2024-04-01 47 days 1,782 sqft
2024-05-01 38 days 1,768 sqft
Joplin's median listing age (time on market) for 2024-05-01 was 38 days. This is 0% longer than the same period one year ago.

Joplin's median square footage for active listings during the 2024-05-01 period was 1,768 sqft. One year prior, the average listing was 1,787 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.