Minot VA Loan Rates, Closing Costs & Stats

Minot, ND

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 40 lenders originated 353 VA loans during 2024. The total origination value was $98,385,000, with an average VA loan value of $278,711.

Minot VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Minot averaged -0.23% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

Minot's average VA mortgage closing costs are $6,025.

The average rate for the prior week (2025-06-27) was 6% and one month ago for the week of 2025-05-30, the average rate was 6.13%.

The average rate one year ago was 6.34%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.01%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 61 6.39% $5,949
ARK-LA-TEX FINANCIAL SERVICES, LLC. 56 5.75% $6,651
TOWN AND COUNTRY Credit Union 33 5.86% $6,543
NAVY FEDERAL CREDIT UNION 18 5.72% $7,415
Gate City Bank 16 5.21% $9,693
First International Bank & Trust 11 5.94% $9,801
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.06% $7,942
GUARANTEED RATE, INC. 9 5.67% $4,682
UNITED WHOLESALE MORTGAGE, LLC 9 5.80% $7,545
FREEDOM MORTGAGE CORPORATION 8 6.20% $8,879
USAA Federal Savings Bank 7 6.04% $10,972
QUICKEN LOANS, LLC 7 6.21% $13,279
First Western Bank & Trust 7 5.76% $5,383
PENNYMAC LOAN SERVICES, LLC 6 5.83% $12,405
Flagstar Bank, FSB 5 6.75% $6,891
LOANDEPOT.COM, LLC 3 6.04% $12,119
Plains Commerce Bank 3 6.42% $10,556
CROSSCOUNTRY MORTGAGE, LLC 3 5.92% $3,648
Dacotah Bank 2 6.06% $8,652
PLANET HOME LENDING, LLC 2 5.99% $3,469
VILLAGE CAPITAL MORTGAGE 1 6.25% $1,980
Ameris Bank 1 6.50% $20,096
Armed Forces Bank 1 6.75% $12,936
Barrington Bank & Trust Company, N.A. 1 6.75% $7,178
BROKER SOLUTIONS, INC. 1 6.49% $12,433
Century Mortgage Company DBA Century Lending Company 1 5.25% $6,505
CORNERSTONE HOME LENDING, INC. 1 6.13% $6,768
DAS Acquisition Company, LLC 1 6.75% $3,359
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $3,298
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $11,858
MOVEMENT MORTGAGE, LLC 1 6.75% $8,014
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $7,688
NBKC BANK 1 6.13% $6,574
NEWREZ LLC 1 4.75% $10,187
Oakstar Bank 1 6.13% $6,562
PNC Bank 1 6.75% $19,327
Service Federal Credit Union 1 6.63% $6,243
Texana Bank 1 6.49% $2,197
U.S. Bank 1 6.60% $2,482
AmeriHome Mortgage Company, LLC 1 5.50% $5,108

The top Minot VA lender as defined by loan originations is Mortgage Research Center, LLC, with 61 VA loans originated. Their average total fees are $5,949, which is $702 lower than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

The lowest fee Minot VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,949), TOWN AND COUNTRY Credit Union ($6,543), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,651), NAVY FEDERAL CREDIT UNION ($7,415) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,942).

The lowest rate Minot VA lenders (with over 10 loans originated) are Gate City Bank (5.21%), NAVY FEDERAL CREDIT UNION (5.72%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (5.75%), TOWN AND COUNTRY Credit Union (5.86%) and First International Bank & Trust (5.94%).

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.