Mcpherson VA Loan Rates, Closing Costs & Stats

McPherson, KS

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.

Mcpherson's 10 lenders originated 23 VA loans during 2023. The total origination value was $4,495,000, with an average VA loan value of $195,435.

Mcpherson VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Mcpherson averaged 0.51% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Mcpherson's average VA mortgage closing costs are $4,819.

The average rate for the prior week (2024-11-22) was 6.57% and one month ago for the week of 2024-10-25, the average rate was 6.57%.

The average rate one year ago was 7.41%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.2%.

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

Mcpherson 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 Mcpherson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 8 7.17% $4,317
Gateway First Bank 4 6.38% $1,775
PENNYMAC LOAN SERVICES, LLC 2 6.19% $2,473
FLAT BRANCH MORTGAGE, INC. 2 6.69% $8,053
FREEDOM MORTGAGE CORPORATION 1 6.38% $12,080
Encompass Lending Group, LP 1 7.13% $4,545
Armed Forces Bank 1 6.13% $2,169
Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $8,602
NEW DAY FINANCIAL, LLC 1 6.38% $7,911
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $6,023

The top Mcpherson VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $4,317, which is $2,542 higher than the next largest lender, Gateway First Bank.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Mcpherson (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 $148,950 (-0.7%) $183,503 (6.0%) 0.00 127
2018-02-01 $148,800 (-4.6%) $182,804 (1.9%) 0.00 135
2018-03-01 $149,900 (-4.5%) $181,451 (3.7%) 0.00 139
2018-04-01 $159,175 (-0.5%) $192,327 (9.2%) 0.00 134
2018-05-01 $166,200 (2.8%) $194,421 (6.4%) 0.00 140
2018-06-01 $159,900 (-4.5%) $194,724 (1.3%) 0.00 144
2018-07-01 $164,875 (-1.3%) $194,171 (0.5%) 0.00 147
2018-08-01 $161,100 (-2.3%) $191,207 (0.9%) 0.00 152
2018-09-01 $159,900 (4.6%) $187,479 (2.3%) 0.00 159
2018-10-01 $156,700 (2.6%) $183,892 (1.6%) 0.00 146
2018-11-01 $157,800 (6.1%) $187,222 (2.3%) 0.00 143
2018-12-01 $159,900 (12.3%) $192,702 (8.5%) 0.00 132
2019-01-01 $159,900 (7.4%) $195,709 (6.7%) 0.00 135
2019-02-01 $159,000 (6.9%) $199,316 (9.0%) 0.00 135
2019-03-01 $158,529 (5.8%) $195,619 (7.8%) 0.00 131
2019-04-01 $157,979 (-0.8%) $194,828 (1.3%) 0.00 122
2019-05-01 $165,663 (-0.3%) $202,745 (4.3%) 0.00 131
2019-06-01 $165,600 (3.6%) $192,222 (-1.3%) 0.00 134
2019-07-01 $180,675 (9.6%) $200,590 (3.3%) 0.00 139
2019-08-01 $182,595 (13.3%) $213,406 (11.6%) 0.00 128
2019-09-01 $179,139 (12.0%) $212,261 (13.2%) 0.00 122
2019-10-01 $176,834 (12.9%) $211,497 (15.0%) 0.00 116
2019-11-01 $179,900 (14.0%) $214,850 (14.8%) 0.00 103
2019-12-01 $173,650 (8.6%) $212,718 (10.4%) 0.00 106
2020-01-01 $169,900 (6.3%) $199,465 (1.9%) 0.00 108
2020-02-01 $177,450 (11.6%) $202,583 (1.6%) 0.00 100
2020-03-01 $156,500 (-1.3%) $190,056 (-2.8%) 0.00 101
2020-04-01 $159,900 (1.2%) $191,740 (-1.6%) 0.00 102
2020-05-01 $164,900 (-0.5%) $200,412 (-1.2%) 0.00 103
2020-06-01 $165,150 (-0.3%) $206,234 (7.3%) 0.00 93
2020-07-01 $182,125 (0.8%) $214,534 (7.0%) 0.00 87
2020-08-01 $176,000 (-3.6%) $211,351 (-1.0%) 0.00 80
2020-09-01 $189,900 (6.0%) $221,465 (4.3%) 0.00 70
2020-10-01 $187,450 (6.0%) $225,483 (6.6%) 0.00 65
2020-11-01 $183,675 (2.1%) $222,671 (3.6%) 0.00 64
2020-12-01 $194,500 (12.0%) $234,805 (10.4%) 0.00 58
2021-01-01 $219,900 (29.4%) $249,753 (25.2%) 0.00 52
2021-02-01 $206,925 (16.6%) $247,157 (22.0%) 0.00 46
2021-03-01 $192,250 (22.8%) $228,243 (20.1%) 0.00 42
2021-04-01 $213,950 (33.8%) $251,503 (31.2%) 0.00 32
2021-05-01 $172,400 (4.6%) $223,475 (11.5%) 0.00 37
2021-06-01 $173,675 (5.2%) $224,008 (8.6%) 0.00 39
2021-07-01 $156,400 (-14.1%) $205,282 (-4.3%) 0.00 45
2021-08-01 $151,950 (-13.7%) $176,127 (-16.7%) 0.00 42
2021-09-01 $146,150 (-23.0%) $173,516 (-21.7%) 0.00 37
2021-10-01 $142,000 (-24.3%) $185,489 (-17.7%) 0.00 38
2021-11-01 $144,475 (-21.3%) $189,542 (-14.9%) 0.00 33
2021-12-01 $147,450 (-24.2%) $190,084 (-19.1%) 0.00 29
2022-01-01 $163,000 (-25.9%) $200,129 (-19.9%) 0.00 26
2022-02-01 $201,950 (-2.4%) $217,874 (-11.9%) 0.00 26
2022-03-01 $224,900 (17.0%) $225,617 (-1.2%) 0.00 25
2022-04-01 $189,000 (-11.7%) $226,877 (-9.8%) 0.00 20
2022-05-01 $230,475 (33.7%) $232,636 (4.1%) 0.00 28
2022-06-01 $172,450 (-0.7%) $209,811 (-6.3%) 0.00 24
2022-07-01 $209,900 (34.2%) $209,935 (2.3%) 0.00 30
2022-08-01 $191,875 (26.3%) $216,588 (23.0%) 0.00 35
2022-09-01 $195,000 (33.4%) $213,348 (23.0%) 0.00 41
2022-10-01 $207,000 (45.8%) $240,884 (29.9%) 0.00 47
2022-11-01 $200,350 (38.7%) $264,000 (39.3%) 0.00 45
2022-12-01 $201,300 (36.5%) $272,078 (43.1%) 0.00 43
2023-01-01 $199,950 (22.7%) $252,781 (26.3%) 0.00 38
2023-02-01 $205,950 (2.0%) $248,239 (13.9%) 0.00 33
2023-03-01 $202,225 (-10.1%) $235,767 (4.5%) 0.00 33
2023-04-01 $201,300 (6.5%) $248,479 (9.5%) 0.00 33
2023-05-01 $201,525 (-12.6%) $259,189 (11.4%) 0.00 38
2023-06-01 $209,825 (21.7%) $242,141 (15.4%) 0.00 52
2023-07-01 $199,900 (-4.8%) $234,623 (11.8%) 0.00 55
2023-08-01 $225,025 (17.3%) $253,160 (16.9%) 0.00 52
2023-09-01 $228,750 (17.3%) $261,311 (22.5%) 0.00 53
2023-10-01 $225,000 (8.7%) $265,911 (10.4%) 0.00 51
2023-11-01 $225,000 (12.3%) $267,172 (1.2%) 0.00 50
2023-12-01 $219,950 (9.3%) $257,466 (-5.4%) 0.00 44
2024-01-01 $239,725 (19.9%) $260,824 (3.2%) 0.00 46
2024-02-01 $237,725 (15.4%) $254,751 (2.6%) 0.00 47
2024-03-01 $248,450 (22.9%) $278,421 (18.1%) 0.00 47
2024-04-01 $239,125 (18.8%) $262,029 (5.5%) 0.00 58
2024-05-01 $239,600 (18.9%) $270,355 (4.3%) 0.00 67
2024-06-01 $235,000 (12.0%) $268,620 (10.9%) 0.00 77
2024-07-01 $229,225 (14.7%) $266,730 (13.7%) 0.00 78
2024-08-01 $225,000 (0.0%) $276,544 (9.2%) 0.00 81
2024-09-01 $251,175 (9.8%) $284,983 (9.1%) 0.00 85
2024-10-01 $257,345 (14.4%) $273,927 (3.0%) 0.00 81
Mcpherson's median listing price for 2024-10-01 was $257,345, a difference of $32,345 (14.4%) versus the prior year and $6,170 versus the prior month.

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

Mcpherson's average listing price for 2024-10-01 was $273,927, a difference of $8,016 (3.0%) versus the prior year and $-11,056 versus the prior month.

For the 2024-10-01 period, Mcpherson had 81 MLS listings, a difference of -4 listings (-5%) versus the prior month and 30 listings (59%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Mcpherson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,898 sqft
2018-02-01 0 days 1,957 sqft
2018-03-01 0 days 1,975 sqft
2018-04-01 0 days 2,031 sqft
2018-05-01 0 days 2,064 sqft
2018-06-01 0 days 2,034 sqft
2018-07-01 0 days 2,057 sqft
2018-08-01 0 days 2,024 sqft
2018-09-01 0 days 2,070 sqft
2018-10-01 0 days 2,030 sqft
2018-11-01 0 days 2,077 sqft
2018-12-01 0 days 2,116 sqft
2019-01-01 0 days 2,204 sqft
2019-02-01 0 days 2,034 sqft
2019-03-01 0 days 1,971 sqft
2019-04-01 0 days 1,947 sqft
2019-05-01 0 days 1,954 sqft
2019-06-01 0 days 1,890 sqft
2019-07-01 0 days 1,931 sqft
2019-08-01 0 days 1,963 sqft
2019-09-01 0 days 1,987 sqft
2019-10-01 0 days 2,002 sqft
2019-11-01 0 days 2,235 sqft
2019-12-01 0 days 2,176 sqft
2020-01-01 0 days 2,022 sqft
2020-02-01 0 days 2,142 sqft
2020-03-01 0 days 2,077 sqft
2020-04-01 0 days 2,048 sqft
2020-05-01 0 days 1,953 sqft
2020-06-01 0 days 2,009 sqft
2020-07-01 0 days 2,174 sqft
2020-08-01 0 days 2,132 sqft
2020-09-01 0 days 2,221 sqft
2020-10-01 0 days 2,250 sqft
2020-11-01 0 days 2,164 sqft
2020-12-01 0 days 2,293 sqft
2021-01-01 0 days 2,392 sqft
2021-02-01 0 days 2,349 sqft
2021-03-01 0 days 2,217 sqft
2021-04-01 0 days 2,429 sqft
2021-05-01 0 days 1,984 sqft
2021-06-01 0 days 1,935 sqft
2021-07-01 0 days 1,800 sqft
2021-08-01 0 days 1,656 sqft
2021-09-01 0 days 1,578 sqft
2021-10-01 0 days 1,774 sqft
2021-11-01 0 days 1,756 sqft
2021-12-01 0 days 1,635 sqft
2022-01-01 0 days 1,520 sqft
2022-02-01 0 days 1,520 sqft
2022-03-01 0 days 1,587 sqft
2022-04-01 0 days 2,092 sqft
2022-05-01 0 days 2,258 sqft
2022-06-01 0 days 1,958 sqft
2022-07-01 0 days 2,180 sqft
2022-08-01 0 days 2,198 sqft
2022-09-01 0 days 2,094 sqft
2022-10-01 0 days 2,191 sqft
2022-11-01 0 days 2,147 sqft
2022-12-01 0 days 2,004 sqft
2023-01-01 0 days 2,018 sqft
2023-02-01 0 days 1,899 sqft
2023-03-01 0 days 1,670 sqft
2023-04-01 0 days 1,656 sqft
2023-05-01 0 days 1,652 sqft
2023-06-01 0 days 1,774 sqft
2023-07-01 0 days 1,883 sqft
2023-08-01 0 days 1,979 sqft
2023-09-01 0 days 2,232 sqft
2023-10-01 0 days 2,103 sqft
2023-11-01 0 days 1,837 sqft
2023-12-01 0 days 1,674 sqft
2024-01-01 0 days 1,809 sqft
2024-02-01 0 days 1,793 sqft
2024-03-01 0 days 1,926 sqft
2024-04-01 0 days 1,890 sqft
2024-05-01 0 days 1,922 sqft
2024-06-01 0 days 1,936 sqft
2024-07-01 0 days 1,965 sqft
2024-08-01 0 days 1,861 sqft
2024-09-01 0 days 1,915 sqft
2024-10-01 0 days 1,891 sqft
Mcpherson's median listing age (time on market) for 2024-10-01 was 0 days.

Mcpherson's median square footage for active listings during the 2024-10-01 period was 1,891 sqft. One year prior, the average listing was 2,103 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.