New Ulm VA Loan Rates, Closing Costs & Stats

New Ulm, 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.

    New Ulm's 10 lenders originated 12 VA loans during 2023. The total origination value was $2,640,000, with an average VA loan value of $220,000.

    New Ulm VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Ulm averaged 6.88% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    New Ulm's average VA mortgage closing costs are $4,141.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.77%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    New Ulm 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 New Ulm level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $10,030
    MEGASTAR FINANCIAL CORP. 1 6.25% $6,305
    MORTGAGEONE, INC. 1 7.75% $2,436
    Mortgage Research Center, LLC 1 6.63% $4,261
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $14,916
    NEW DAY FINANCIAL, LLC 1 6.99% $3,694
    Summit Mortgage Corporation 1 6.75% $10,515
    The Federal Savings Bank 1 7.25% $3,554
    Flagstar Bank, FSB 1 5.88% $6,610
    UNITED WHOLESALE MORTGAGE, LLC 1 7.04% $575

    The top New Ulm VA lender as defined by loan originations is PENNYMAC LOAN SERVICES, LLC, with 2 VA loans originated. Their average total fees are $10,030, which is $3,725 higher than the next largest lender, MEGASTAR FINANCIAL CORP..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New Ulm (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 $127,650 (6.7%) $174,624 (5.0%) 0.00 86
    2018-02-01 $129,900 (4.6%) $186,322 (8.5%) 0.00 75
    2018-03-01 $128,500 (5.0%) $183,275 (5.3%) 0.00 73
    2018-04-01 $147,250 (22.8%) $193,063 (12.5%) 0.00 75
    2018-05-01 $145,813 (15.8%) $188,650 (8.9%) 0.00 81
    2018-06-01 $141,050 (6.9%) $196,069 (7.1%) 0.00 79
    2018-07-01 $134,900 (4.0%) $195,594 (8.5%) 0.00 69
    2018-08-01 $140,900 (9.9%) $203,039 (13.8%) 0.00 75
    2018-09-01 $150,000 (19.1%) $191,526 (11.7%) 0.00 81
    2018-10-01 $146,900 (17.6%) $198,718 (19.9%) 0.00 84
    2018-11-01 $142,900 (16.2%) $202,527 (25.0%) 0.00 76
    2018-12-01 $129,900 (4.0%) $194,159 (16.3%) 0.00 70
    2019-01-01 $132,925 (4.1%) $206,222 (18.1%) 0.00 70
    2019-02-01 $133,400 (2.7%) $204,795 (9.9%) 0.00 72
    2019-03-01 $149,186 (16.1%) $206,340 (12.6%) 0.00 73
    2019-04-01 $153,986 (4.6%) $206,890 (7.2%) 0.00 77
    2019-05-01 $145,975 (0.1%) $199,355 (5.7%) 0.00 83
    2019-06-01 $164,900 (16.9%) $205,564 (4.8%) 0.00 82
    2019-07-01 $154,425 (14.5%) $189,491 (-3.1%) 0.00 85
    2019-08-01 $150,464 (6.8%) $178,763 (-12.0%) 0.00 91
    2019-09-01 $155,659 (3.8%) $186,127 (-2.8%) 0.00 94
    2019-10-01 $156,223 (6.4%) $191,702 (-3.5%) 0.00 97
    2019-11-01 $149,900 (4.9%) $184,679 (-8.8%) 0.00 99
    2019-12-01 $149,900 (15.4%) $190,409 (-1.9%) 0.00 90
    2020-01-01 $149,900 (12.8%) $192,912 (-6.5%) 0.00 84
    2020-02-01 $149,900 (12.4%) $196,894 (-3.9%) 0.00 81
    2020-03-01 $156,175 (4.7%) $197,650 (-4.2%) 0.00 75
    2020-04-01 $170,575 (10.8%) $199,444 (-3.6%) 0.00 75
    2020-05-01 $178,450 (22.3%) $204,745 (2.7%) 0.00 68
    2020-06-01 $183,900 (11.5%) $206,486 (0.5%) 0.00 74
    2020-07-01 $165,950 (7.5%) $184,531 (-2.6%) 0.00 73
    2020-08-01 $159,700 (6.1%) $181,149 (1.3%) 0.00 63
    2020-09-01 $141,150 (-9.3%) $172,132 (-7.5%) 0.00 65
    2020-10-01 $138,700 (-11.2%) $165,153 (-13.9%) 0.00 66
    2020-11-01 $134,900 (-10.0%) $164,208 (-11.1%) 0.00 60
    2020-12-01 $128,650 (-14.2%) $164,772 (-13.5%) 0.00 62
    2021-01-01 $139,900 (-6.7%) $183,375 (-4.9%) 0.00 43
    2021-02-01 $127,400 (-15.0%) $205,717 (4.5%) 0.00 41
    2021-03-01 $149,150 (-4.5%) $221,465 (12.1%) 0.00 40
    2021-04-01 $147,950 (-13.3%) $223,566 (12.1%) 0.00 34
    2021-05-01 $139,900 (-21.6%) $209,170 (2.2%) 0.00 26
    2021-06-01 $146,804 (-20.2%) $209,345 (1.4%) 0.00 36
    2021-07-01 $149,000 (-10.2%) $222,812 (20.8%) 0.00 33
    2021-08-01 $143,175 (-10.4%) $205,003 (13.2%) 0.00 38
    2021-09-01 $159,850 (13.3%) $219,449 (27.5%) 0.00 36
    2021-10-01 $159,700 (15.1%) $214,427 (29.8%) 0.00 43
    2021-11-01 $165,450 (22.7%) $243,416 (48.2%) 0.00 32
    2021-12-01 $162,175 (26.1%) $250,229 (51.9%) 0.00 27
    2022-01-01 $169,900 (21.4%) $290,565 (58.5%) 0.00 19
    2022-02-01 $181,200 (42.2%) $223,012 (8.4%) 0.00 14
    2022-03-01 $172,400 (15.6%) $210,703 (-4.9%) 0.00 20
    2022-04-01 $162,400 (9.8%) $221,468 (-0.9%) 0.00 24
    2022-05-01 $209,900 (50.0%) $230,743 (10.3%) 0.00 27
    2022-06-01 $214,900 (46.4%) $256,610 (22.6%) 0.00 38
    2022-07-01 $234,900 (57.7%) $275,517 (23.7%) 0.00 33
    2022-08-01 $247,450 (72.8%) $279,235 (36.2%) 0.00 28
    2022-09-01 $217,450 (36.0%) $257,947 (17.5%) 0.00 32
    2022-10-01 $215,000 (34.6%) $249,343 (16.3%) 0.00 35
    2022-11-01 $184,000 (11.2%) $234,941 (-3.5%) 0.00 28
    2022-12-01 $199,900 (23.3%) $242,643 (-3.0%) 0.00 19
    2023-01-01 $241,150 (41.9%) $242,652 (-16.5%) 0.00 23
    2023-02-01 $294,900 (62.8%) $285,429 (28.0%) 0.00 21
    2023-03-01 $334,950 (94.3%) $303,232 (43.9%) 0.00 21
    2023-04-01 $284,900 (75.4%) $290,191 (31.0%) 0.00 26
    2023-05-01 $267,400 (27.4%) $294,299 (27.5%) 0.00 25
    2023-06-01 $255,400 (18.9%) $287,122 (11.9%) 0.00 25
    2023-07-01 $259,700 (10.6%) $264,857 (-3.9%) 0.00 24
    2023-08-01 $238,800 (-3.5%) $250,827 (-10.2%) 0.00 33
    2023-09-01 $241,700 (11.2%) $250,217 (-3.0%) 0.00 37
    2023-10-01 $218,650 (1.7%) $234,358 (-6.0%) 0.00 46
    2023-11-01 $223,000 (21.2%) $237,775 (1.2%) 0.00 44
    2023-12-01 $242,450 (21.3%) $243,200 (0.2%) 0.00 36
    2024-01-01 $237,450 (-1.5%) $244,717 (0.9%) 0.00 29
    2024-02-01 $258,650 (-12.3%) $271,985 (-4.7%) 0.00 23
    2024-03-01 $279,900 (-16.4%) $274,600 (-9.4%) 0.00 21
    New Ulm's median listing price for 2024-03-01 was $279,900, a difference of $-55,050 (-16.4%) versus the prior year and $21,250 versus the prior month.

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

    New Ulm's average listing price for 2024-03-01 was $274,600, a difference of $-28,632 (-9.4%) versus the prior year and $2,615 versus the prior month.

    For the 2024-03-01 period, New Ulm had 21 MLS listings, a difference of -2 listings (-9%) versus the prior month and 0 listings (0%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New Ulm (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,682 sqft
    2018-02-01 0 days 1,800 sqft
    2018-03-01 0 days 1,811 sqft
    2018-04-01 0 days 1,937 sqft
    2018-05-01 0 days 1,909 sqft
    2018-06-01 0 days 1,989 sqft
    2018-07-01 0 days 1,971 sqft
    2018-08-01 0 days 2,000 sqft
    2018-09-01 0 days 1,974 sqft
    2018-10-01 0 days 1,836 sqft
    2018-11-01 0 days 1,725 sqft
    2018-12-01 0 days 1,775 sqft
    2019-01-01 0 days 1,850 sqft
    2019-02-01 0 days 1,910 sqft
    2019-03-01 0 days 1,812 sqft
    2019-04-01 0 days 1,702 sqft
    2019-05-01 0 days 1,721 sqft
    2019-06-01 0 days 1,874 sqft
    2019-07-01 0 days 1,834 sqft
    2019-08-01 0 days 1,815 sqft
    2019-09-01 0 days 1,857 sqft
    2019-10-01 0 days 1,884 sqft
    2019-11-01 0 days 1,850 sqft
    2019-12-01 0 days 1,891 sqft
    2020-01-01 0 days 1,921 sqft
    2020-02-01 0 days 1,930 sqft
    2020-03-01 0 days 1,885 sqft
    2020-04-01 0 days 2,019 sqft
    2020-05-01 0 days 2,134 sqft
    2020-06-01 0 days 2,368 sqft
    2020-07-01 0 days 2,275 sqft
    2020-08-01 0 days 2,244 sqft
    2020-09-01 0 days 2,079 sqft
    2020-10-01 0 days 2,086 sqft
    2020-11-01 0 days 2,062 sqft
    2020-12-01 0 days 2,076 sqft
    2021-01-01 0 days 2,033 sqft
    2021-02-01 0 days 1,837 sqft
    2021-03-01 0 days 1,974 sqft
    2021-04-01 0 days 2,031 sqft
    2021-05-01 0 days 2,104 sqft
    2021-06-01 0 days 2,136 sqft
    2021-07-01 0 days 2,198 sqft
    2021-08-01 0 days 1,974 sqft
    2021-09-01 0 days 2,240 sqft
    2021-10-01 0 days 2,106 sqft
    2021-11-01 0 days 2,237 sqft
    2021-12-01 0 days 2,007 sqft
    2022-01-01 0 days 2,006 sqft
    2022-02-01 0 days 2,020 sqft
    2022-03-01 0 days 2,006 sqft
    2022-04-01 0 days 2,036 sqft
    2022-05-01 0 days 2,199 sqft
    2022-06-01 0 days 2,204 sqft
    2022-07-01 0 days 2,264 sqft
    2022-08-01 0 days 2,288 sqft
    2022-09-01 0 days 2,174 sqft
    2022-10-01 0 days 2,405 sqft
    2022-11-01 0 days 2,246 sqft
    2022-12-01 0 days 2,088 sqft
    2023-01-01 0 days 1,776 sqft
    2023-02-01 0 days 1,774 sqft
    2023-03-01 0 days 1,804 sqft
    2023-04-01 0 days 2,144 sqft
    2023-05-01 0 days 2,184 sqft
    2023-06-01 0 days 2,176 sqft
    2023-07-01 0 days 2,184 sqft
    2023-08-01 0 days 2,328 sqft
    2023-09-01 0 days 2,352 sqft
    2023-10-01 0 days 2,374 sqft
    2023-11-01 0 days 2,388 sqft
    2023-12-01 0 days 2,306 sqft
    2024-01-01 0 days 2,228 sqft
    2024-02-01 0 days 2,326 sqft
    2024-03-01 0 days 2,082 sqft
    New Ulm's median listing age (time on market) for 2024-03-01 was 0 days.

    New Ulm's median square footage for active listings during the 2024-03-01 period was 2,082 sqft. One year prior, the average listing was 1,804 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.