Minot VA Loan Rates, Closing Costs & Stats

Minot, ND

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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.

    Minot's 31 lenders originated 257 VA loans during 2023. The total origination value was $66,585,000, with an average VA loan value of $259,086.

    Minot VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Minot averaged 6.51% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Minot's average VA mortgage closing costs are $5,854.

    The average rate for the prior week (2025-02-07) was 6.44% and one month ago for the week of 2025-01-10, the average rate was 6.38%.

    The average rate one year ago was 6.2%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.23%.

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

    Minot 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 Minot level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 47 6.06% $5,629
    Mortgage Research Center, LLC 43 6.61% $6,176
    TOWN AND COUNTRY Credit Union 36 5.69% $5,628
    Gate City Bank 17 5.86% $9,458
    First Western Bank & Trust 14 6.23% $6,476
    QUICKEN LOANS, LLC 11 6.21% $13,223
    GUARANTEED RATE, INC. 8 6.18% $4,006
    First International Bank & Trust 8 5.64% $6,351
    USAA Federal Savings Bank 6 6.48% $8,605
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.47% $7,073
    Flagstar Bank, FSB 5 6.40% $5,264
    NAVY FEDERAL CREDIT UNION 3 5.33% $10,449
    Dacotah Bank 3 5.95% $4,311
    The Federal Savings Bank 3 6.13% $12,031
    BROKER SOLUTIONS, INC. 3 5.63% $13,149
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 5.71% $6,967
    UNITED WHOLESALE MORTGAGE, LLC 3 6.41% $8,658
    Wells Fargo Bank 1 3.75% $0
    Armed Forces Bank 1 5.75% $9,173
    Bank of England 1 6.75% $7,375
    CITYWIDE HOME LOANS, LLC 1 6.75% $16,444
    CORNERSTONE HOME LENDING, INC. 1 6.63% $16,609
    DAS Acquisition Company, LLC 1 7.75% $750
    Gateway First Bank 1 6.75% $771
    NEWREZ LLC 1 5.75% $6,747
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $12,336
    Plains Commerce Bank 1 6.63% $15,548
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $8,061
    U.S. Bank 1 6.75% $3,346
    VILLAGE CAPITAL MORTGAGE 1 6.25% $4,132
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $10,597

    The top Minot VA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 47 VA loans originated. Their average total fees are $5,629, which is $547 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Minot VA lenders (with over 10 loans originated) are TOWN AND COUNTRY Credit Union ($5,628), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,629), Mortgage Research Center, LLC ($6,176), First Western Bank & Trust ($6,476) and Gate City Bank ($9,458).

    The lowest rate Minot VA lenders (with over 10 loans originated) are TOWN AND COUNTRY Credit Union (5.69%), Gate City Bank (5.86%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.06%), QUICKEN LOANS, LLC (6.21%) and First Western Bank & Trust (6.23%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Minot (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 $208,450 (-4.5%) $230,361 (-2.1%) 0.00 404
    2018-02-01 $210,000 (-1.2%) $236,507 (3.3%) 0.00 396
    2018-03-01 $210,000 (-1.6%) $236,582 (2.6%) 0.00 394
    2018-04-01 $219,900 (4.8%) $240,121 (3.7%) 0.00 404
    2018-05-01 $219,900 (8.8%) $278,740 (21.1%) 0.00 456
    2018-06-01 $219,900 (10.0%) $279,745 (25.1%) 0.00 494
    2018-07-01 $219,900 (9.4%) $280,108 (26.4%) 0.00 514
    2018-08-01 $219,000 (9.6%) $278,707 (25.6%) 0.00 497
    2018-09-01 $214,900 (4.9%) $279,997 (24.1%) 0.00 486
    2018-10-01 $209,925 (2.3%) $277,616 (21.8%) 0.00 482
    2018-11-01 $203,250 (-2.1%) $272,975 (18.5%) 0.00 481
    2018-12-01 $199,900 (-2.5%) $271,581 (17.2%) 0.00 420
    2019-01-01 $199,450 (-4.3%) $273,371 (18.7%) 0.00 374
    2019-02-01 $199,725 (-4.9%) $272,637 (15.3%) 0.00 382
    2019-03-01 $204,243 (-2.7%) $253,142 (7.0%) 0.00 418
    2019-04-01 $209,900 (-4.6%) $225,260 (-6.2%) 0.00 461
    2019-05-01 $209,925 (-4.5%) $226,906 (-18.6%) 0.00 481
    2019-06-01 $214,500 (-2.5%) $225,329 (-19.5%) 0.00 469
    2019-07-01 $211,250 (-3.9%) $225,805 (-19.4%) 0.00 475
    2019-08-01 $207,173 (-5.4%) $224,373 (-19.5%) 0.00 465
    2019-09-01 $203,082 (-5.5%) $223,345 (-20.2%) 0.00 445
    2019-10-01 $199,900 (-4.8%) $221,071 (-20.4%) 0.00 421
    2019-11-01 $195,450 (-3.8%) $215,927 (-20.9%) 0.00 375
    2019-12-01 $189,500 (-5.2%) $212,889 (-21.6%) 0.00 301
    2020-01-01 $186,475 (-6.5%) $211,363 (-22.7%) 0.00 251
    2020-02-01 $187,500 (-6.1%) $209,064 (-23.3%) 0.00 252
    2020-03-01 $195,000 (-4.5%) $219,448 (-13.3%) 0.00 273
    2020-04-01 $199,925 (-4.8%) $220,819 (-2.0%) 0.00 288
    2020-05-01 $209,450 (-0.2%) $235,970 (4.0%) 0.00 297
    2020-06-01 $212,450 (-1.0%) $241,908 (7.4%) 0.00 313
    2020-07-01 $219,450 (3.9%) $248,972 (10.3%) 0.00 298
    2020-08-01 $214,900 (3.7%) $248,462 (10.7%) 0.00 279
    2020-09-01 $203,500 (0.2%) $244,976 (9.7%) 0.00 256
    2020-10-01 $194,900 (-2.5%) $239,403 (8.3%) 0.00 226
    2020-11-01 $194,900 (-0.3%) $233,197 (8.0%) 0.00 207
    2020-12-01 $208,250 (9.9%) $234,126 (10.0%) 0.00 198
    2021-01-01 $198,000 (6.2%) $229,251 (8.5%) 0.00 166
    2021-02-01 $208,750 (11.3%) $232,088 (11.0%) 0.00 166
    2021-03-01 $208,500 (6.9%) $231,471 (5.5%) 0.00 149
    2021-04-01 $205,750 (2.9%) $241,803 (9.5%) 0.00 141
    2021-05-01 $205,000 (-2.1%) $243,633 (3.3%) 0.00 168
    2021-06-01 $209,975 (-1.2%) $251,384 (3.9%) 0.00 185
    2021-07-01 $209,950 (-4.3%) $256,915 (3.2%) 0.00 207
    2021-08-01 $215,225 (0.2%) $244,391 (-1.6%) 0.00 213
    2021-09-01 $219,950 (8.1%) $245,479 (0.2%) 0.00 210
    2021-10-01 $209,900 (7.7%) $245,050 (2.4%) 0.00 176
    2021-11-01 $196,200 (0.7%) $223,339 (-4.2%) 0.00 167
    2021-12-01 $204,925 (-1.6%) $220,787 (-5.7%) 0.00 144
    2022-01-01 $193,700 (-2.2%) $205,717 (-10.3%) 0.00 121
    2022-02-01 $184,975 (-11.4%) $206,641 (-11.0%) 0.00 102
    2022-03-01 $199,975 (-4.1%) $219,690 (-5.1%) 0.00 99
    2022-04-01 $210,000 (2.1%) $227,791 (-5.8%) 0.00 107
    2022-05-01 $226,175 (10.3%) $252,150 (3.5%) 0.00 130
    2022-06-01 $239,900 (14.3%) $269,275 (7.1%) 0.00 170
    2022-07-01 $247,900 (18.1%) $272,055 (5.9%) 0.00 188
    2022-08-01 $249,975 (16.2%) $279,274 (14.3%) 0.00 208
    2022-09-01 $249,100 (13.3%) $280,845 (14.4%) 0.00 213
    2022-10-01 $239,450 (14.1%) $274,037 (11.8%) 0.00 217
    2022-11-01 $230,750 (17.6%) $263,305 (17.9%) 0.00 205
    2022-12-01 $230,000 (12.2%) $260,837 (18.1%) 0.00 187
    2023-01-01 $229,900 (18.7%) $254,741 (23.8%) 0.00 166
    2023-02-01 $224,950 (21.6%) $262,062 (26.8%) 0.00 135
    2023-03-01 $228,700 (14.4%) $282,315 (28.5%) 0.00 125
    2023-04-01 $239,900 (14.2%) $297,455 (30.6%) 0.00 108
    2023-05-01 $241,975 (7.0%) $305,924 (21.3%) 0.00 123
    2023-06-01 $243,550 (1.5%) $304,045 (12.9%) 0.00 131
    2023-07-01 $232,500 (-6.2%) $284,890 (4.7%) 0.00 140
    2023-08-01 $237,450 (-5.0%) $287,877 (3.1%) 0.00 156
    2023-09-01 $235,000 (-5.7%) $281,608 (0.3%) 0.00 180
    2023-10-01 $226,950 (-5.2%) $281,254 (2.6%) 0.00 180
    2023-11-01 $226,725 (-1.7%) $275,064 (4.5%) 0.00 180
    2023-12-01 $227,000 (-1.3%) $275,499 (5.6%) 0.00 164
    2024-01-01 $237,500 (3.3%) $282,279 (10.8%) 0.00 141
    2024-02-01 $249,450 (10.9%) $307,340 (17.3%) 0.00 134
    2024-03-01 $287,450 (25.7%) $315,838 (11.9%) 0.00 126
    2024-04-01 $328,650 (37.0%) $345,762 (16.2%) 0.00 133
    2024-05-01 $317,475 (31.2%) $338,180 (10.5%) 0.00 161
    2024-06-01 $327,500 (34.5%) $348,184 (14.5%) 0.00 154
    2024-07-01 $309,900 (33.3%) $343,721 (20.7%) 0.00 173
    2024-08-01 $312,450 (31.6%) $337,010 (17.1%) 0.00 171
    2024-09-01 $314,450 (33.8%) $349,624 (24.2%) 0.00 183
    2024-10-01 $313,725 (38.2%) $348,265 (23.8%) 0.00 185
    2024-11-01 $299,900 (32.3%) $332,957 (21.1%) 0.00 182
    2024-12-01 $289,000 (27.3%) $323,187 (17.3%) 0.00 180
    2025-01-01 $302,450 (27.4%) $331,977 (17.6%) 0.00 145
    Minot's median listing price for 2025-01-01 was $302,450, a difference of $64,950 (27.4%) versus the prior year and $13,450 versus the prior month.

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

    Minot's average listing price for 2025-01-01 was $331,977, a difference of $49,698 (17.6%) versus the prior year and $8,790 versus the prior month.

    For the 2025-01-01 period, Minot had 145 MLS listings, a difference of -35 listings (-19%) versus the prior month and 4 listings (3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Minot (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,140 sqft
    2018-02-01 0 days 2,150 sqft
    2018-03-01 0 days 2,162 sqft
    2018-04-01 0 days 2,172 sqft
    2018-05-01 0 days 2,118 sqft
    2018-06-01 0 days 2,181 sqft
    2018-07-01 0 days 2,182 sqft
    2018-08-01 0 days 2,182 sqft
    2018-09-01 0 days 2,196 sqft
    2018-10-01 0 days 2,158 sqft
    2018-11-01 0 days 2,119 sqft
    2018-12-01 0 days 2,080 sqft
    2019-01-01 0 days 2,053 sqft
    2019-02-01 0 days 2,040 sqft
    2019-03-01 0 days 2,025 sqft
    2019-04-01 0 days 2,027 sqft
    2019-05-01 0 days 2,056 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,093 sqft
    2019-08-01 0 days 2,088 sqft
    2019-09-01 0 days 2,086 sqft
    2019-10-01 0 days 2,084 sqft
    2019-11-01 0 days 2,088 sqft
    2019-12-01 0 days 2,046 sqft
    2020-01-01 0 days 2,041 sqft
    2020-02-01 0 days 2,026 sqft
    2020-03-01 0 days 2,072 sqft
    2020-04-01 0 days 2,080 sqft
    2020-05-01 0 days 2,138 sqft
    2020-06-01 0 days 2,150 sqft
    2020-07-01 0 days 2,157 sqft
    2020-08-01 0 days 2,141 sqft
    2020-09-01 0 days 2,101 sqft
    2020-10-01 0 days 2,113 sqft
    2020-11-01 0 days 2,160 sqft
    2020-12-01 0 days 2,194 sqft
    2021-01-01 0 days 2,052 sqft
    2021-02-01 0 days 2,091 sqft
    2021-03-01 0 days 2,121 sqft
    2021-04-01 0 days 2,117 sqft
    2021-05-01 0 days 2,080 sqft
    2021-06-01 0 days 2,129 sqft
    2021-07-01 0 days 2,134 sqft
    2021-08-01 0 days 2,124 sqft
    2021-09-01 0 days 2,114 sqft
    2021-10-01 0 days 2,006 sqft
    2021-11-01 0 days 1,979 sqft
    2021-12-01 0 days 1,979 sqft
    2022-01-01 0 days 1,912 sqft
    2022-02-01 0 days 1,829 sqft
    2022-03-01 0 days 1,951 sqft
    2022-04-01 0 days 1,989 sqft
    2022-05-01 0 days 2,055 sqft
    2022-06-01 0 days 2,026 sqft
    2022-07-01 0 days 2,097 sqft
    2022-08-01 0 days 2,126 sqft
    2022-09-01 0 days 2,148 sqft
    2022-10-01 0 days 2,184 sqft
    2022-11-01 0 days 2,186 sqft
    2022-12-01 0 days 2,180 sqft
    2023-01-01 0 days 2,147 sqft
    2023-02-01 0 days 2,104 sqft
    2023-03-01 0 days 2,057 sqft
    2023-04-01 0 days 2,173 sqft
    2023-05-01 0 days 2,139 sqft
    2023-06-01 0 days 2,197 sqft
    2023-07-01 0 days 2,030 sqft
    2023-08-01 0 days 2,099 sqft
    2023-09-01 0 days 2,156 sqft
    2023-10-01 0 days 2,125 sqft
    2023-11-01 0 days 2,076 sqft
    2023-12-01 0 days 2,035 sqft
    2024-01-01 0 days 2,048 sqft
    2024-02-01 0 days 2,196 sqft
    2024-03-01 0 days 2,245 sqft
    2024-04-01 0 days 2,282 sqft
    2024-05-01 0 days 2,285 sqft
    2024-06-01 0 days 2,323 sqft
    2024-07-01 0 days 2,358 sqft
    2024-08-01 0 days 2,334 sqft
    2024-09-01 0 days 2,316 sqft
    2024-10-01 0 days 2,281 sqft
    2024-11-01 0 days 2,296 sqft
    2024-12-01 0 days 2,210 sqft
    2025-01-01 0 days 2,240 sqft
    Minot's median listing age (time on market) for 2025-01-01 was 0 days.

    Minot's median square footage for active listings during the 2025-01-01 period was 2,240 sqft. One year prior, the average listing was 2,048 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.