Mankato VA Loan Rates, Closing Costs & Stats
MANKATO, MN
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.
Mankato's 19 lenders originated 69 VA loans during 2023. The total origination value was $21,295,000, with an average VA loan value of $308,623.
Mankato VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Mankato
averaged
0.27%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Mankato's average VA mortgage closing costs are $5,020.
The average rate for the prior week (2024-11-22) was
6.54% and
one month ago for the week of 2024-10-25, the
average rate was 6.24%.
The average rate one year ago was 7.08%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.2%.
Mankato 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 Mankato level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
UNITED WHOLESALE MORTGAGE, LLC | 21 | 6.51% | $6,754 |
Mortgage Research Center, LLC | 13 | 6.69% | $5,618 |
CROSSCOUNTRY MORTGAGE, LLC | 8 | 6.66% | $5,458 |
U.S. Bank | 4 | 6.28% | $7,035 |
Wells Fargo Bank | 3 | 6.42% | $11,809 |
NAVY FEDERAL CREDIT UNION | 2 | 5.81% | $5,308 |
Cambria Financial Group, LLC | 2 | 6.62% | $14,487 |
LOANDEPOT.COM, LLC | 2 | 6.00% | $14,466 |
QUICKEN LOANS, LLC | 2 | 6.25% | $7,330 |
Barrington Bank & Trust Company, N.A. | 1 | 6.25% | $6,629 |
NBKC BANK | 1 | 6.50% | $3,288 |
NEWREZ LLC | 1 | 6.75% | $10,615 |
PLANET HOME LENDING, LLC | 1 | 6.75% | $6,603 |
Prosperity Home Mortgage, LLC | 1 | 6.25% | $2,519 |
Bremer Bank | 1 | 7.25% | $8,661 |
GUARANTEED RATE, INC. | 1 | 5.63% | $1,260 |
USAA Federal Savings Bank | 1 | 7.13% | $6,702 |
FREEDOM MORTGAGE CORPORATION | 1 | 6.25% | $28,426 |
Ixonia Bank | 1 | 6.50% | $10,823 |
The top Mankato VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
21 VA loans originated. Their average total fees are
$6,754, which is $1,135
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Mankato VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($5,618), UNITED WHOLESALE MORTGAGE, LLC ($6,754), .
The lowest rate Mankato VA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.51%), Mortgage Research Center, LLC (6.69%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Mankato (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $229,900 (15.7%) | $286,261 (18.2%) | 0.00 | 225 |
2018-02-01 | $237,800 (22.0%) | $287,153 (19.6%) | 0.00 | 220 |
2018-03-01 | $239,700 (17.9%) | $298,028 (23.2%) | 0.00 | 234 |
2018-04-01 | $240,450 (14.7%) | $297,579 (17.1%) | 0.00 | 260 |
2018-05-01 | $244,400 (11.4%) | $296,169 (11.3%) | 0.00 | 281 |
2018-06-01 | $249,900 (13.5%) | $298,767 (10.6%) | 0.00 | 300 |
2018-07-01 | $244,925 (7.6%) | $292,969 (7.2%) | 0.00 | 320 |
2018-08-01 | $247,225 (7.7%) | $290,053 (5.8%) | 0.00 | 338 |
2018-09-01 | $235,400 (0.2%) | $281,456 (0.6%) | 0.00 | 357 |
2018-10-01 | $240,575 (4.8%) | $278,034 (-0.4%) | 0.00 | 359 |
2018-11-01 | $243,075 (6.3%) | $277,367 (-0.3%) | 0.00 | 335 |
2018-12-01 | $242,900 (6.7%) | $277,448 (-2.3%) | 0.00 | 285 |
2019-01-01 | $248,650 (8.2%) | $285,562 (-0.2%) | 0.00 | 257 |
2019-02-01 | $249,900 (5.1%) | $292,625 (1.9%) | 0.00 | 251 |
2019-03-01 | $254,014 (6.0%) | $295,521 (-0.8%) | 0.00 | 262 |
2019-04-01 | $258,814 (7.6%) | $297,913 (0.1%) | 0.00 | 274 |
2019-05-01 | $257,425 (5.3%) | $296,031 (-0.1%) | 0.00 | 315 |
2019-06-01 | $259,900 (4.0%) | $298,399 (-0.1%) | 0.00 | 332 |
2019-07-01 | $259,900 (6.1%) | $297,404 (1.5%) | 0.00 | 335 |
2019-08-01 | $255,736 (3.4%) | $294,196 (1.4%) | 0.00 | 351 |
2019-09-01 | $256,841 (9.1%) | $291,105 (3.4%) | 0.00 | 356 |
2019-10-01 | $258,800 (7.6%) | $289,299 (4.1%) | 0.00 | 359 |
2019-11-01 | $258,000 (6.1%) | $289,071 (4.2%) | 0.00 | 326 |
2019-12-01 | $255,650 (5.3%) | $287,846 (3.8%) | 0.00 | 277 |
2020-01-01 | $255,925 (2.9%) | $284,611 (-0.3%) | 0.00 | 253 |
2020-02-01 | $269,900 (8.0%) | $294,786 (0.7%) | 0.00 | 235 |
2020-03-01 | $277,450 (9.2%) | $311,970 (5.6%) | 0.00 | 261 |
2020-04-01 | $278,950 (7.8%) | $313,710 (5.3%) | 0.00 | 267 |
2020-05-01 | $299,000 (16.2%) | $324,984 (9.8%) | 0.00 | 269 |
2020-06-01 | $299,900 (15.4%) | $331,417 (11.1%) | 0.00 | 242 |
2020-07-01 | $298,050 (14.7%) | $332,730 (11.9%) | 0.00 | 205 |
2020-08-01 | $290,950 (13.8%) | $336,825 (14.5%) | 0.00 | 204 |
2020-09-01 | $282,225 (9.9%) | $335,209 (15.2%) | 0.00 | 195 |
2020-10-01 | $267,900 (3.5%) | $316,434 (9.4%) | 0.00 | 198 |
2020-11-01 | $253,650 (-1.7%) | $308,550 (6.7%) | 0.00 | 156 |
2020-12-01 | $256,200 (0.2%) | $306,229 (6.4%) | 0.00 | 139 |
2021-01-01 | $250,000 (-2.3%) | $316,392 (11.2%) | 0.00 | 100 |
2021-02-01 | $269,400 (-0.2%) | $321,330 (9.0%) | 0.00 | 86 |
2021-03-01 | $280,675 (1.2%) | $329,846 (5.7%) | 0.00 | 91 |
2021-04-01 | $283,650 (1.7%) | $340,400 (8.5%) | 0.00 | 104 |
2021-05-01 | $289,450 (-3.2%) | $345,202 (6.2%) | 0.00 | 92 |
2021-06-01 | $279,950 (-6.7%) | $337,050 (1.7%) | 0.00 | 110 |
2021-07-01 | $257,200 (-13.7%) | $330,055 (-0.8%) | 0.00 | 122 |
2021-08-01 | $262,450 (-9.8%) | $328,269 (-2.5%) | 0.00 | 144 |
2021-09-01 | $264,950 (-6.1%) | $325,235 (-3.0%) | 0.00 | 147 |
2021-10-01 | $269,900 (0.8%) | $328,815 (3.9%) | 0.00 | 149 |
2021-11-01 | $272,400 (7.4%) | $341,385 (10.6%) | 0.00 | 142 |
2021-12-01 | $295,225 (15.2%) | $352,180 (15.0%) | 0.00 | 113 |
2022-01-01 | $309,400 (23.8%) | $359,819 (13.7%) | 0.00 | 94 |
2022-02-01 | $317,425 (17.8%) | $426,190 (32.6%) | 0.00 | 80 |
2022-03-01 | $282,475 (0.6%) | $377,063 (14.3%) | 0.00 | 73 |
2022-04-01 | $279,900 (-1.3%) | $334,835 (-1.6%) | 0.00 | 87 |
2022-05-01 | $306,725 (6.0%) | $360,771 (4.5%) | 0.00 | 98 |
2022-06-01 | $319,900 (14.3%) | $369,816 (9.7%) | 0.00 | 136 |
2022-07-01 | $324,400 (26.1%) | $369,288 (11.9%) | 0.00 | 144 |
2022-08-01 | $324,675 (23.7%) | $378,690 (15.4%) | 0.00 | 145 |
2022-09-01 | $321,225 (21.2%) | $373,725 (14.9%) | 0.00 | 141 |
2022-10-01 | $319,000 (18.2%) | $370,346 (12.6%) | 0.00 | 145 |
2022-11-01 | $311,700 (14.4%) | $363,350 (6.4%) | 0.00 | 136 |
2022-12-01 | $337,400 (14.3%) | $364,542 (3.5%) | 0.00 | 123 |
2023-01-01 | $371,700 (20.1%) | $384,880 (7.0%) | 0.00 | 95 |
2023-02-01 | $384,900 (21.3%) | $400,244 (-6.1%) | 0.00 | 96 |
2023-03-01 | $399,900 (41.6%) | $412,683 (9.5%) | 0.00 | 85 |
2023-04-01 | $362,450 (29.5%) | $403,194 (20.4%) | 0.00 | 101 |
2023-05-01 | $359,900 (17.3%) | $409,069 (13.4%) | 0.00 | 126 |
2023-06-01 | $369,425 (15.5%) | $413,627 (11.9%) | 0.00 | 133 |
2023-07-01 | $369,900 (14.0%) | $417,517 (13.1%) | 0.00 | 134 |
2023-08-01 | $359,400 (10.7%) | $401,825 (6.1%) | 0.00 | 157 |
2023-09-01 | $349,900 (8.9%) | $409,494 (9.6%) | 0.00 | 165 |
2023-10-01 | $335,000 (5.0%) | $379,913 (2.6%) | 0.00 | 187 |
2023-11-01 | $336,950 (8.1%) | $391,158 (7.7%) | 0.00 | 181 |
2023-12-01 | $329,000 (-2.5%) | $383,979 (5.3%) | 0.00 | 154 |
2024-01-01 | $349,900 (-5.9%) | $413,463 (7.4%) | 0.00 | 132 |
2024-02-01 | $384,000 (-0.2%) | $435,981 (8.9%) | 0.00 | 115 |
2024-03-01 | $389,000 (-2.7%) | $445,756 (8.0%) | 0.00 | 122 |
2024-04-01 | $381,250 (5.2%) | $434,651 (7.8%) | 0.00 | 133 |
2024-05-01 | $392,975 (9.2%) | $445,895 (9.0%) | 0.00 | 130 |
2024-06-01 | $389,000 (5.3%) | $445,987 (7.8%) | 0.00 | 159 |
2024-07-01 | $379,925 (2.7%) | $415,423 (-0.5%) | 0.00 | 167 |
2024-08-01 | $377,200 (5.0%) | $418,109 (4.1%) | 0.00 | 185 |
2024-09-01 | $366,850 (4.8%) | $414,287 (1.2%) | 0.00 | 194 |
2024-10-01 | $359,750 (7.4%) | $402,371 (5.9%) | 0.00 | 205 |
Mankato's median listing price comes in at 0% of the national average.
Mankato's average listing price for 2024-10-01 was $402,371, a difference of $22,458 (5.9%) versus the prior year and $-11,916 versus the prior month.
For the 2024-10-01 period, Mankato had 205 MLS listings, a difference of 11 listings (6%) versus the prior month and 18 listings (10%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mankato (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,136 sqft |
2018-02-01 | 0 days | 2,094 sqft |
2018-03-01 | 0 days | 2,128 sqft |
2018-04-01 | 0 days | 2,153 sqft |
2018-05-01 | 0 days | 2,139 sqft |
2018-06-01 | 0 days | 2,139 sqft |
2018-07-01 | 0 days | 2,112 sqft |
2018-08-01 | 0 days | 2,136 sqft |
2018-09-01 | 0 days | 2,101 sqft |
2018-10-01 | 0 days | 2,093 sqft |
2018-11-01 | 0 days | 2,096 sqft |
2018-12-01 | 0 days | 2,099 sqft |
2019-01-01 | 0 days | 2,155 sqft |
2019-02-01 | 0 days | 2,146 sqft |
2019-03-01 | 0 days | 2,124 sqft |
2019-04-01 | 0 days | 2,158 sqft |
2019-05-01 | 0 days | 2,143 sqft |
2019-06-01 | 0 days | 2,185 sqft |
2019-07-01 | 0 days | 2,244 sqft |
2019-08-01 | 0 days | 2,180 sqft |
2019-09-01 | 0 days | 2,167 sqft |
2019-10-01 | 0 days | 2,157 sqft |
2019-11-01 | 0 days | 2,151 sqft |
2019-12-01 | 0 days | 2,094 sqft |
2020-01-01 | 0 days | 2,018 sqft |
2020-02-01 | 0 days | 2,142 sqft |
2020-03-01 | 0 days | 2,245 sqft |
2020-04-01 | 0 days | 2,220 sqft |
2020-05-01 | 0 days | 2,292 sqft |
2020-06-01 | 0 days | 2,567 sqft |
2020-07-01 | 0 days | 2,635 sqft |
2020-08-01 | 0 days | 2,699 sqft |
2020-09-01 | 0 days | 2,625 sqft |
2020-10-01 | 0 days | 2,504 sqft |
2020-11-01 | 0 days | 2,490 sqft |
2020-12-01 | 0 days | 2,481 sqft |
2021-01-01 | 0 days | 2,478 sqft |
2021-02-01 | 0 days | 2,387 sqft |
2021-03-01 | 0 days | 2,451 sqft |
2021-04-01 | 0 days | 2,439 sqft |
2021-05-01 | 0 days | 2,473 sqft |
2021-06-01 | 0 days | 2,420 sqft |
2021-07-01 | 0 days | 2,365 sqft |
2021-08-01 | 0 days | 2,301 sqft |
2021-09-01 | 0 days | 2,257 sqft |
2021-10-01 | 0 days | 2,326 sqft |
2021-11-01 | 0 days | 2,322 sqft |
2021-12-01 | 0 days | 2,350 sqft |
2022-01-01 | 0 days | 2,355 sqft |
2022-02-01 | 0 days | 2,334 sqft |
2022-03-01 | 0 days | 2,221 sqft |
2022-04-01 | 0 days | 2,196 sqft |
2022-05-01 | 0 days | 2,350 sqft |
2022-06-01 | 0 days | 2,345 sqft |
2022-07-01 | 0 days | 2,347 sqft |
2022-08-01 | 0 days | 2,416 sqft |
2022-09-01 | 0 days | 2,363 sqft |
2022-10-01 | 0 days | 2,369 sqft |
2022-11-01 | 0 days | 2,387 sqft |
2022-12-01 | 0 days | 2,346 sqft |
2023-01-01 | 0 days | 2,367 sqft |
2023-02-01 | 0 days | 2,416 sqft |
2023-03-01 | 0 days | 2,487 sqft |
2023-04-01 | 0 days | 2,408 sqft |
2023-05-01 | 0 days | 2,454 sqft |
2023-06-01 | 0 days | 2,410 sqft |
2023-07-01 | 0 days | 2,456 sqft |
2023-08-01 | 0 days | 2,520 sqft |
2023-09-01 | 0 days | 2,503 sqft |
2023-10-01 | 0 days | 2,462 sqft |
2023-11-01 | 0 days | 2,499 sqft |
2023-12-01 | 0 days | 2,424 sqft |
2024-01-01 | 0 days | 2,332 sqft |
2024-02-01 | 0 days | 2,449 sqft |
2024-03-01 | 0 days | 2,482 sqft |
2024-04-01 | 0 days | 2,412 sqft |
2024-05-01 | 0 days | 2,510 sqft |
2024-06-01 | 0 days | 2,570 sqft |
2024-07-01 | 0 days | 2,647 sqft |
2024-08-01 | 0 days | 2,640 sqft |
2024-09-01 | 0 days | 2,690 sqft |
2024-10-01 | 0 days | 2,580 sqft |
Mankato's median square footage for active listings during the 2024-10-01 period was 2,580 sqft. One year prior, the average listing was 2,462 sqft.