Rochester VA Loan Rates, Closing Costs & Stats
ROCHESTER, MN
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.
Rochester's 38 lenders originated 153 VA loans during 2023. The total origination value was $46,405,000, with an average VA loan value of $303,301.
Rochester VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Rochester
averaged
0.15%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Rochester's average VA mortgage closing costs are $5,372.
The average rate for the prior week (2024-11-22) was
6.62% and
one month ago for the week of 2024-10-25, the
average rate was 6.02%.
The average rate one year ago was 6.76%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.52%.
Rochester 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 Rochester level.
The top Rochester VA lender as defined by loan originations is Mortgage Research Center, LLC, with
23 VA loans originated. Their average total fees are
$8,060, which is $1,328
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Rochester VA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC ($6,732), Mortgage Research Center, LLC ($8,060), QUICKEN LOANS, LLC ($9,439), .
The lowest rate Rochester VA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.08%), QUICKEN LOANS, LLC (6.31%), Mortgage Research Center, LLC (6.54%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $294,353 (21.4%) | $329,513 (12.6%) | 1.09 | 496 |
2018-02-01 | $299,200 (21.4%) | $341,398 (16.2%) | 1.09 | 490 |
2018-03-01 | $319,900 (27.7%) | $360,296 (19.8%) | 1.12 | 552 |
2018-04-01 | $314,900 (12.5%) | $362,808 (15.2%) | 1.07 | 584 |
2018-05-01 | $304,475 (10.8%) | $359,002 (11.9%) | 1.02 | 606 |
2018-06-01 | $299,900 (10.1%) | $353,964 (10.1%) | 1.00 | 642 |
2018-07-01 | $295,725 (9.5%) | $347,977 (9.6%) | 0.99 | 722 |
2018-08-01 | $283,200 (3.0%) | $334,261 (6.2%) | 0.95 | 739 |
2018-09-01 | $279,900 (7.7%) | $329,024 (7.5%) | 0.94 | 783 |
2018-10-01 | $274,950 (3.3%) | $322,071 (3.2%) | 0.93 | 782 |
2018-11-01 | $274,900 (-0.8%) | $324,692 (4.0%) | 0.93 | 732 |
2018-12-01 | $296,450 (5.9%) | $341,416 (7.9%) | 1.02 | 638 |
2019-01-01 | $307,950 (4.6%) | $353,599 (7.3%) | 1.06 | 490 |
2019-02-01 | $303,225 (1.4%) | $355,534 (4.1%) | 1.02 | 378 |
2019-03-01 | $313,329 (-2.1%) | $358,144 (-0.6%) | 1.02 | 504 |
2019-04-01 | $319,900 (1.6%) | $365,430 (0.7%) | 1.02 | 655 |
2019-05-01 | $319,050 (4.8%) | $360,446 (0.4%) | 1.00 | 698 |
2019-06-01 | $309,900 (3.3%) | $359,396 (1.5%) | 0.97 | 709 |
2019-07-01 | $309,450 (4.6%) | $359,467 (3.3%) | 0.97 | 744 |
2019-08-01 | $307,173 (8.5%) | $357,955 (7.1%) | 0.97 | 752 |
2019-09-01 | $303,082 (8.3%) | $354,861 (7.9%) | 0.97 | 765 |
2019-10-01 | $298,575 (8.6%) | $351,141 (9.0%) | 0.96 | 767 |
2019-11-01 | $294,900 (7.3%) | $348,701 (7.4%) | 0.97 | 725 |
2019-12-01 | $298,700 (0.8%) | $355,828 (4.2%) | 1.00 | 600 |
2020-01-01 | $309,175 (0.4%) | $356,717 (0.9%) | 1.03 | 525 |
2020-02-01 | $319,950 (5.5%) | $373,241 (5.0%) | 1.05 | 474 |
2020-03-01 | $317,450 (1.3%) | $374,902 (4.7%) | 1.00 | 506 |
2020-04-01 | $319,950 (0.0%) | $370,116 (1.3%) | 1.00 | 552 |
2020-05-01 | $321,250 (0.7%) | $378,297 (5.0%) | 0.98 | 561 |
2020-06-01 | $328,725 (6.1%) | $389,683 (8.4%) | 0.97 | 535 |
2020-07-01 | $329,900 (6.6%) | $399,982 (11.3%) | 0.96 | 484 |
2020-08-01 | $320,000 (4.2%) | $394,674 (10.3%) | 0.92 | 479 |
2020-09-01 | $309,975 (2.3%) | $388,845 (9.6%) | 0.89 | 452 |
2020-10-01 | $298,500 (0.0%) | $377,285 (7.5%) | 0.86 | 449 |
2020-11-01 | $287,400 (-2.5%) | $385,700 (10.6%) | 0.84 | 362 |
2020-12-01 | $292,450 (-2.1%) | $391,383 (10.0%) | 0.87 | 291 |
2021-01-01 | $302,400 (-2.2%) | $404,364 (13.4%) | 0.90 | 242 |
2021-02-01 | $316,400 (-1.1%) | $409,997 (9.9%) | 0.92 | 242 |
2021-03-01 | $326,075 (2.7%) | $410,702 (9.6%) | 0.93 | 261 |
2021-04-01 | $331,225 (3.5%) | $411,401 (11.2%) | 0.90 | 239 |
2021-05-01 | $338,500 (5.4%) | $416,322 (10.1%) | 0.90 | 223 |
2021-06-01 | $338,225 (2.9%) | $410,133 (5.3%) | 0.89 | 253 |
2021-07-01 | $336,500 (2.0%) | $419,891 (5.0%) | 0.89 | 324 |
2021-08-01 | $319,900 (0.0%) | $417,635 (5.8%) | 0.85 | 364 |
2021-09-01 | $327,000 (5.5%) | $410,142 (5.5%) | 0.87 | 401 |
2021-10-01 | $336,500 (12.7%) | $414,957 (10.0%) | 0.90 | 423 |
2021-11-01 | $343,950 (19.7%) | $426,060 (10.5%) | 0.92 | 375 |
2021-12-01 | $349,900 (19.6%) | $439,082 (12.2%) | 0.95 | 303 |
2022-01-01 | $355,000 (17.4%) | $441,460 (9.2%) | 0.96 | 242 |
2022-02-01 | $377,425 (19.3%) | $473,697 (15.5%) | 0.98 | 205 |
2022-03-01 | $379,000 (16.2%) | $472,213 (15.0%) | 0.95 | 224 |
2022-04-01 | $389,450 (17.6%) | $465,474 (13.1%) | 0.93 | 255 |
2022-05-01 | $392,475 (16.0%) | $479,428 (15.2%) | 0.90 | 293 |
2022-06-01 | $379,000 (12.1%) | $468,993 (14.4%) | 0.84 | 333 |
2022-07-01 | $364,900 (8.4%) | $454,662 (8.3%) | 0.82 | 394 |
2022-08-01 | $377,500 (18.0%) | $463,334 (10.9%) | 0.87 | 414 |
2022-09-01 | $370,425 (13.3%) | $464,510 (13.3%) | 0.87 | 429 |
2022-10-01 | $382,450 (13.7%) | $459,325 (10.7%) | 0.90 | 461 |
2022-11-01 | $385,175 (12.0%) | $454,603 (6.7%) | 0.93 | 428 |
2022-12-01 | $381,950 (9.2%) | $451,332 (2.8%) | 0.94 | 357 |
2023-01-01 | $394,900 (11.2%) | $458,736 (3.9%) | 0.98 | 302 |
2023-02-01 | $413,828 (9.7%) | $488,214 (3.1%) | 1.00 | 273 |
2023-03-01 | $414,171 (9.3%) | $498,326 (5.5%) | 0.98 | 308 |
2023-04-01 | $414,900 (6.5%) | $500,582 (7.5%) | 0.96 | 337 |
2023-05-01 | $418,393 (6.6%) | $513,104 (7.0%) | 0.95 | 346 |
2023-06-01 | $418,393 (10.4%) | $510,184 (8.8%) | 0.94 | 363 |
2023-07-01 | $410,000 (12.4%) | $501,082 (10.2%) | 0.93 | 367 |
2023-08-01 | $399,925 (5.9%) | $486,722 (5.1%) | 0.92 | 442 |
2023-09-01 | $385,000 (3.9%) | $465,387 (0.2%) | 0.90 | 467 |
2023-10-01 | $385,000 (0.7%) | $461,984 (0.6%) | 0.91 | 505 |
2023-11-01 | $380,925 (-1.1%) | $470,118 (3.4%) | 0.91 | 489 |
2023-12-01 | $379,900 (-0.5%) | $474,629 (5.2%) | 0.93 | 431 |
2024-01-01 | $404,995 (2.6%) | $519,130 (13.2%) | 0.99 | 344 |
2024-02-01 | $399,950 (-3.4%) | $537,069 (10.0%) | 0.96 | 315 |
2024-03-01 | $419,900 (1.4%) | $538,475 (8.1%) | 0.99 | 346 |
2024-04-01 | $430,700 (3.8%) | $550,407 (10.0%) | 1.00 | 380 |
2024-05-01 | $434,950 (4.0%) | $552,264 (7.6%) | 0.98 | 432 |
2024-06-01 | $419,250 (0.2%) | $546,554 (7.1%) | 0.94 | 471 |
2024-07-01 | $415,975 (1.5%) | $534,415 (6.7%) | 0.95 | 519 |
2024-08-01 | $419,900 (5.0%) | $542,709 (11.5%) | 0.98 | 517 |
2024-09-01 | $404,925 (5.2%) | $538,249 (15.7%) | 0.95 | 553 |
2024-10-01 | $420,000 (9.1%) | $538,393 (16.5%) | 0.99 | 559 |
Rochester's median listing price comes in at 99% of the national average.
Rochester's average listing price for 2024-10-01 was $538,393, a difference of $76,409 (16.5%) versus the prior year and $144 versus the prior month.
For the 2024-10-01 period, Rochester had 559 MLS listings, a difference of 6 listings (1%) versus the prior month and 54 listings (11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 88 days | 2,567 sqft |
2018-02-01 | 89 days | 2,600 sqft |
2018-03-01 | 48 days | 2,800 sqft |
2018-04-01 | 43 days | 2,781 sqft |
2018-05-01 | 47 days | 2,721 sqft |
2018-06-01 | 46 days | 2,729 sqft |
2018-07-01 | 49 days | 2,727 sqft |
2018-08-01 | 55 days | 2,616 sqft |
2018-09-01 | 57 days | 2,596 sqft |
2018-10-01 | 59 days | 2,520 sqft |
2018-11-01 | 66 days | 2,524 sqft |
2018-12-01 | 81 days | 2,536 sqft |
2019-01-01 | 93 days | 2,094 sqft |
2019-02-01 | 64 days | 2,102 sqft |
2019-03-01 | 49 days | 2,151 sqft |
2019-04-01 | 46 days | 2,206 sqft |
2019-05-01 | 47 days | 2,210 sqft |
2019-06-01 | 51 days | 2,240 sqft |
2019-07-01 | 50 days | 2,250 sqft |
2019-08-01 | 51 days | 2,253 sqft |
2019-09-01 | 55 days | 2,224 sqft |
2019-10-01 | 59 days | 2,198 sqft |
2019-11-01 | 71 days | 2,163 sqft |
2019-12-01 | 86 days | 2,152 sqft |
2020-01-01 | 86 days | 2,127 sqft |
2020-02-01 | 88 days | 2,208 sqft |
2020-03-01 | 44 days | 2,167 sqft |
2020-04-01 | 42 days | 2,185 sqft |
2020-05-01 | 50 days | 2,234 sqft |
2020-06-01 | 52 days | 2,247 sqft |
2020-07-01 | 51 days | 2,310 sqft |
2020-08-01 | 46 days | 2,210 sqft |
2020-09-01 | 47 days | 2,166 sqft |
2020-10-01 | 45 days | 2,109 sqft |
2020-11-01 | 53 days | 2,045 sqft |
2020-12-01 | 58 days | 2,062 sqft |
2021-01-01 | 63 days | 1,978 sqft |
2021-02-01 | 50 days | 2,017 sqft |
2021-03-01 | 32 days | 2,091 sqft |
2021-04-01 | 31 days | 2,023 sqft |
2021-05-01 | 36 days | 2,096 sqft |
2021-06-01 | 32 days | 2,085 sqft |
2021-07-01 | 36 days | 2,090 sqft |
2021-08-01 | 36 days | 2,098 sqft |
2021-09-01 | 42 days | 2,087 sqft |
2021-10-01 | 43 days | 2,123 sqft |
2021-11-01 | 45 days | 2,073 sqft |
2021-12-01 | 58 days | 2,064 sqft |
2022-01-01 | 65 days | 2,198 sqft |
2022-02-01 | 40 days | 2,540 sqft |
2022-03-01 | 31 days | 2,513 sqft |
2022-04-01 | 31 days | 2,544 sqft |
2022-05-01 | 33 days | 2,330 sqft |
2022-06-01 | 36 days | 2,179 sqft |
2022-07-01 | 37 days | 2,138 sqft |
2022-08-01 | 39 days | 2,147 sqft |
2022-09-01 | 46 days | 2,120 sqft |
2022-10-01 | 47 days | 2,149 sqft |
2022-11-01 | 59 days | 2,136 sqft |
2022-12-01 | 73 days | 2,085 sqft |
2023-01-01 | 84 days | 2,097 sqft |
2023-02-01 | 69 days | 2,198 sqft |
2023-03-01 | 47 days | 2,229 sqft |
2023-04-01 | 39 days | 2,225 sqft |
2023-05-01 | 39 days | 2,343 sqft |
2023-06-01 | 46 days | 2,354 sqft |
2023-07-01 | 47 days | 2,334 sqft |
2023-08-01 | 41 days | 2,257 sqft |
2023-09-01 | 42 days | 2,149 sqft |
2023-10-01 | 47 days | 2,151 sqft |
2023-11-01 | 57 days | 2,158 sqft |
2023-12-01 | 69 days | 2,092 sqft |
2024-01-01 | 77 days | 2,149 sqft |
2024-02-01 | 73 days | 2,150 sqft |
2024-03-01 | 39 days | 2,241 sqft |
2024-04-01 | 39 days | 2,260 sqft |
2024-05-01 | 39 days | 2,285 sqft |
2024-06-01 | 44 days | 2,239 sqft |
2024-07-01 | 42 days | 2,249 sqft |
2024-08-01 | 49 days | 2,239 sqft |
2024-09-01 | 47 days | 2,154 sqft |
2024-10-01 | 50 days | 2,229 sqft |
Rochester's median square footage for active listings during the 2024-10-01 period was 2,229 sqft. One year prior, the average listing was 2,151 sqft.