Marshall VA Loan Rates, Closing Costs & Stats

Marshall, 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.

    Marshall's 11 lenders originated 15 VA loans during 2023. The total origination value was $3,455,000, with an average VA loan value of $230,333.

    Marshall VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Marshall averaged 6.64% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Marshall's average VA mortgage closing costs are $4,299.

    The average rate for the prior week (2024-12-06) was 6.38% and one month ago for the week of 2024-11-08, the average rate was 6.47%.

    The average rate one year ago was 7.12%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Marshall 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 Marshall level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 4 7.47% $5,319
    UNITED WHOLESALE MORTGAGE, LLC 2 6.63% $9,004
    EMM LOANS LLC 1 5.88% $16,739
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $0
    First Bank & Trust 1 5.25% $2,620
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.25% $8,809
    NBKC BANK 1 6.50% $3,236
    QUICKEN LOANS, LLC 1 5.38% $3,751
    ALTRA 1 6.13% $6,630
    USAA Federal Savings Bank 1 6.63% $2,298
    American Mortgage & Equity Consultants, Inc. 1 7.25% $2,506

    The top Marshall VA lender as defined by loan originations is Mortgage Research Center, LLC, with 4 VA loans originated. Their average total fees are $5,319, which is $3,686 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Marshall VA lenders (with over 10 loans originated) are .

    The lowest rate Marshall VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marshall (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 $116,000 (-12.1%) $149,103 (-6.9%) 0.00 56
    2018-02-01 $115,000 (-16.8%) $151,039 (-7.6%) 0.00 58
    2018-03-01 $129,000 (-10.0%) $154,239 (-6.7%) 0.00 67
    2018-04-01 $140,702 (5.4%) $156,777 (-3.3%) 0.00 70
    2018-05-01 $141,200 (2.7%) $150,013 (-7.5%) 0.00 74
    2018-06-01 $132,450 (-11.4%) $143,689 (-17.6%) 0.00 80
    2018-07-01 $125,000 (-18.3%) $144,988 (-17.3%) 0.00 83
    2018-08-01 $132,000 (-5.7%) $150,951 (-6.6%) 0.00 88
    2018-09-01 $125,000 (-3.9%) $153,184 (-2.0%) 0.00 95
    2018-10-01 $127,500 (0.2%) $157,108 (-0.1%) 0.00 92
    2018-11-01 $146,000 (16.2%) $161,861 (4.2%) 0.00 99
    2018-12-01 $122,500 (-4.9%) $153,324 (-0.5%) 0.00 95
    2019-01-01 $137,000 (18.1%) $158,455 (6.3%) 0.00 82
    2019-02-01 $141,000 (22.6%) $162,063 (7.3%) 0.00 89
    2019-03-01 $144,443 (12.0%) $160,227 (3.9%) 0.00 95
    2019-04-01 $144,393 (2.6%) $156,011 (-0.5%) 0.00 105
    2019-05-01 $145,950 (3.4%) $159,612 (6.4%) 0.00 100
    2019-06-01 $139,900 (5.6%) $156,308 (8.8%) 0.00 99
    2019-07-01 $142,200 (13.8%) $157,895 (8.9%) 0.00 120
    2019-08-01 $138,100 (4.6%) $156,300 (3.5%) 0.00 120
    2019-09-01 $136,075 (8.9%) $155,282 (1.4%) 0.00 118
    2019-10-01 $134,975 (5.9%) $155,971 (-0.7%) 0.00 117
    2019-11-01 $139,900 (-4.2%) $162,266 (0.3%) 0.00 106
    2019-12-01 $134,900 (10.1%) $159,257 (3.9%) 0.00 90
    2020-01-01 $138,675 (1.2%) $158,110 (-0.2%) 0.00 79
    2020-02-01 $125,000 (-11.4%) $154,226 (-4.8%) 0.00 84
    2020-03-01 $130,325 (-9.8%) $159,114 (-0.7%) 0.00 82
    2020-04-01 $128,725 (-10.9%) $157,502 (1.0%) 0.00 86
    2020-05-01 $127,450 (-12.7%) $161,099 (0.9%) 0.00 86
    2020-06-01 $140,725 (0.6%) $169,812 (8.6%) 0.00 92
    2020-07-01 $134,925 (-5.1%) $171,721 (8.8%) 0.00 99
    2020-08-01 $124,500 (-9.9%) $167,922 (7.4%) 0.00 82
    2020-09-01 $119,500 (-12.2%) $162,089 (4.4%) 0.00 79
    2020-10-01 $122,000 (-9.6%) $158,236 (1.5%) 0.00 81
    2020-11-01 $116,950 (-16.4%) $151,076 (-6.9%) 0.00 70
    2020-12-01 $102,100 (-24.3%) $143,676 (-9.8%) 0.00 63
    2021-01-01 $115,000 (-17.1%) $147,987 (-6.4%) 0.00 46
    2021-02-01 $110,125 (-11.9%) $143,171 (-7.2%) 0.00 45
    2021-03-01 $105,000 (-19.4%) $140,196 (-11.9%) 0.00 38
    2021-04-01 $112,750 (-12.4%) $151,140 (-4.0%) 0.00 34
    2021-05-01 $132,500 (4.0%) $150,495 (-6.6%) 0.00 41
    2021-06-01 $150,000 (6.6%) $167,983 (-1.1%) 0.00 45
    2021-07-01 $164,950 (22.3%) $190,830 (11.1%) 0.00 48
    2021-08-01 $153,750 (23.5%) $181,487 (8.1%) 0.00 43
    2021-09-01 $148,125 (24.0%) $176,552 (8.9%) 0.00 45
    2021-10-01 $142,000 (16.4%) $178,009 (12.5%) 0.00 40
    2021-11-01 $148,875 (27.3%) $216,271 (43.2%) 0.00 36
    2021-12-01 $189,475 (85.6%) $231,002 (60.8%) 0.00 32
    2022-01-01 $199,900 (73.8%) $239,466 (61.8%) 0.00 25
    2022-02-01 $199,900 (81.5%) $231,829 (61.9%) 0.00 21
    2022-03-01 $162,250 (54.5%) $221,035 (57.7%) 0.00 18
    2022-04-01 $157,500 (39.7%) $230,575 (52.6%) 0.00 16
    2022-05-01 $189,750 (43.2%) $251,221 (66.9%) 0.00 24
    2022-06-01 $188,750 (25.8%) $266,127 (58.4%) 0.00 28
    2022-07-01 $179,900 (9.1%) $263,912 (38.3%) 0.00 32
    2022-08-01 $173,450 (12.8%) $251,285 (38.5%) 0.00 32
    2022-09-01 $168,500 (13.8%) $245,982 (39.3%) 0.00 35
    2022-10-01 $195,000 (37.3%) $233,310 (31.1%) 0.00 35
    2022-11-01 $143,725 (-3.5%) $200,449 (-7.3%) 0.00 41
    2022-12-01 $140,000 (-26.1%) $193,170 (-16.4%) 0.00 33
    2023-01-01 $143,000 (-28.5%) $193,094 (-19.4%) 0.00 28
    2023-02-01 $184,875 (-7.5%) $219,269 (-5.4%) 0.00 27
    2023-03-01 $180,592 (11.3%) $216,972 (-1.8%) 0.00 20
    2023-04-01 $197,369 (25.3%) $222,226 (-3.6%) 0.00 25
    2023-05-01 $240,750 (26.9%) $272,238 (8.4%) 0.00 25
    2023-06-01 $228,750 (21.2%) $259,272 (-2.6%) 0.00 30
    2023-07-01 $234,000 (30.1%) $254,732 (-3.5%) 0.00 29
    2023-08-01 $234,500 (35.2%) $257,653 (2.5%) 0.00 35
    2023-09-01 $240,000 (42.4%) $273,517 (11.2%) 0.00 40
    2023-10-01 $252,000 (29.2%) $262,227 (12.4%) 0.00 43
    2023-11-01 $233,250 (62.3%) $233,967 (16.7%) 0.00 37
    2023-12-01 $217,500 (55.4%) $215,560 (11.6%) 0.00 33
    2024-01-01 $213,750 (49.5%) $216,754 (12.3%) 0.00 30
    2024-02-01 $187,500 (1.4%) $211,105 (-3.7%) 0.00 31
    2024-03-01 $205,000 (13.5%) $227,527 (4.9%) 0.00 35
    2024-04-01 $177,000 (-10.3%) $234,533 (5.5%) 0.00 33
    2024-05-01 $262,500 (9.0%) $262,099 (-3.7%) 0.00 35
    2024-06-01 $275,000 (20.2%) $267,388 (3.1%) 0.00 32
    2024-07-01 $240,500 (2.8%) $234,399 (-8.0%) 0.00 34
    2024-08-01 $257,000 (9.6%) $257,354 (-0.1%) 0.00 44
    2024-09-01 $249,750 (4.1%) $257,103 (-6.0%) 0.00 44
    2024-10-01 $238,750 (-5.3%) $265,346 (1.2%) 0.00 48
    2024-11-01 $250,000 (7.2%) $263,323 (12.6%) 0.00 50
    Marshall's median listing price for 2024-11-01 was $250,000, a difference of $16,750 (7.2%) versus the prior year and $11,250 versus the prior month.

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

    Marshall's average listing price for 2024-11-01 was $263,323, a difference of $29,356 (12.6%) versus the prior year and $-2,023 versus the prior month.

    For the 2024-11-01 period, Marshall had 50 MLS listings, a difference of 2 listings (4%) versus the prior month and 13 listings (35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marshall (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,143 sqft
    2018-02-01 0 days 2,117 sqft
    2018-03-01 0 days 2,212 sqft
    2018-04-01 0 days 2,281 sqft
    2018-05-01 0 days 2,196 sqft
    2018-06-01 0 days 2,184 sqft
    2018-07-01 0 days 2,086 sqft
    2018-08-01 0 days 2,189 sqft
    2018-09-01 0 days 2,184 sqft
    2018-10-01 0 days 2,222 sqft
    2018-11-01 0 days 2,245 sqft
    2018-12-01 0 days 2,245 sqft
    2019-01-01 0 days 2,325 sqft
    2019-02-01 0 days 2,233 sqft
    2019-03-01 0 days 2,050 sqft
    2019-04-01 0 days 1,840 sqft
    2019-05-01 0 days 1,846 sqft
    2019-06-01 0 days 1,845 sqft
    2019-07-01 0 days 1,870 sqft
    2019-08-01 0 days 1,867 sqft
    2019-09-01 0 days 1,879 sqft
    2019-10-01 0 days 1,887 sqft
    2019-11-01 0 days 1,845 sqft
    2019-12-01 0 days 1,832 sqft
    2020-01-01 0 days 1,779 sqft
    2020-02-01 0 days 1,790 sqft
    2020-03-01 0 days 1,830 sqft
    2020-04-01 0 days 1,842 sqft
    2020-05-01 0 days 1,851 sqft
    2020-06-01 0 days 1,874 sqft
    2020-07-01 0 days 1,856 sqft
    2020-08-01 0 days 1,843 sqft
    2020-09-01 0 days 1,774 sqft
    2020-10-01 0 days 1,728 sqft
    2020-11-01 0 days 1,664 sqft
    2020-12-01 0 days 1,625 sqft
    2021-01-01 0 days 1,655 sqft
    2021-02-01 0 days 1,700 sqft
    2021-03-01 0 days 1,720 sqft
    2021-04-01 0 days 1,728 sqft
    2021-05-01 0 days 1,695 sqft
    2021-06-01 0 days 1,800 sqft
    2021-07-01 0 days 1,898 sqft
    2021-08-01 0 days 1,814 sqft
    2021-09-01 0 days 1,831 sqft
    2021-10-01 0 days 1,792 sqft
    2021-11-01 0 days 1,775 sqft
    2021-12-01 0 days 1,790 sqft
    2022-01-01 0 days 1,936 sqft
    2022-02-01 0 days 2,241 sqft
    2022-03-01 0 days 2,239 sqft
    2022-04-01 0 days 2,228 sqft
    2022-05-01 0 days 1,873 sqft
    2022-06-01 0 days 1,833 sqft
    2022-07-01 0 days 1,890 sqft
    2022-08-01 0 days 1,755 sqft
    2022-09-01 0 days 1,681 sqft
    2022-10-01 0 days 1,885 sqft
    2022-11-01 0 days 1,757 sqft
    2022-12-01 0 days 1,753 sqft
    2023-01-01 0 days 1,752 sqft
    2023-02-01 0 days 1,854 sqft
    2023-03-01 0 days 1,794 sqft
    2023-04-01 0 days 1,750 sqft
    2023-05-01 0 days 1,900 sqft
    2023-06-01 0 days 1,900 sqft
    2023-07-01 0 days 1,960 sqft
    2023-08-01 0 days 1,932 sqft
    2023-09-01 0 days 1,978 sqft
    2023-10-01 0 days 1,886 sqft
    2023-11-01 0 days 1,784 sqft
    2023-12-01 0 days 1,742 sqft
    2024-01-01 0 days 1,775 sqft
    2024-02-01 0 days 1,800 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,708 sqft
    2024-05-01 0 days 1,987 sqft
    2024-06-01 0 days 2,008 sqft
    2024-07-01 0 days 2,002 sqft
    2024-08-01 0 days 2,109 sqft
    2024-09-01 0 days 2,031 sqft
    2024-10-01 0 days 2,019 sqft
    2024-11-01 0 days 2,019 sqft
    Marshall's median listing age (time on market) for 2024-11-01 was 0 days.

    Marshall's median square footage for active listings during the 2024-11-01 period was 2,019 sqft. One year prior, the average listing was 1,784 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.