Sioux City VA Loan Rates, Closing Costs & Stats

SIOUX CITY, IA-NE-SD

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.

Sioux City's 38 lenders originated 118 VA loans during 2023. The total origination value was $30,280,000, with an average VA loan value of $256,610.

Sioux City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Sioux City averaged 6.43% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

Sioux City's average VA mortgage closing costs are $5,485.

The average rate for the prior week (2024-07-05) was 6.34% and one month ago for the week of 2024-06-07, the average rate was 6.36%.

The average rate one year ago was 6.73%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.36%.

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

Sioux City 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 Sioux City level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 26 6.55% $5,304
QUICKEN LOANS, LLC 13 6.20% $13,177
GUARANTEED RATE, INC. 6 6.38% $5,002
NEW DAY FINANCIAL, LLC 4 7.13% $9,240
Plains Commerce Bank 4 6.15% $15,918
Citizens Bank 4 6.69% $7,180
NAVY FEDERAL CREDIT UNION 4 5.25% $7,385
Flagstar Bank, FSB 4 6.33% $7,929
Great Southern Bank 4 5.59% $5,564
Northwest Bank 3 7.33% $9,192
GUILD MORTGAGE COMPANY 3 5.08% $3,639
U.S. Bank 3 6.29% $5,505
USAA Federal Savings Bank 3 6.75% $5,381
Wells Fargo Bank 2 6.25% $7,827
UNITED WHOLESALE MORTGAGE, LLC 2 7.38% $622
LOANDEPOT.COM, LLC 2 6.49% $13,159
NEWREZ LLC 2 6.44% $11,587
PENNYMAC LOAN SERVICES, LLC 2 6.50% $7,687
The Federal Savings Bank 1 7.25% $3,779
The Huntington National Bank 1 5.38% $24,866
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $141
American Bank & Trust 1 5.50% $9,267
Barrington Bank & Trust Company, N.A. 1 6.75% $8,540
BROKER SOLUTIONS, INC. 1 6.75% $11,295
CARDINAL FINANCIAL 1 7.25% $23,388
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $8,290
Equity Prime Mortgage LLC 1 6.88% $14,590
First National Bank of Omaha 1 5.25% $4,965
FREEDOM MORTGAGE CORPORATION 1 6.25% $13,944
Gateway First Bank 1 6.25% $675
Heritage Bank 1 5.88% $7,126
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $1,676
Access Bank 1 6.88% $1,977
Mr. Cooper ( Nationstar Mortgage ) 1 5.88% $7,251
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $27,399
PLAZA HOME MORTGAGE, INC. 1 5.75% $5,379
ROYAL UNITED MORTGAGE LLC 1 7.75% $17,494
The Central Trust Bank 1 6.13% $3,500

The top Sioux City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 26 VA loans originated. Their average total fees are $5,304, which is $7,873 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Sioux City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,304), QUICKEN LOANS, LLC ($13,177), .

The lowest rate Sioux City VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.20%), Mortgage Research Center, LLC (6.55%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sioux City (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 $209,000 (17.2%) $267,531 (9.0%) 0.74 310
2018-02-01 $209,863 (17.9%) $270,215 (15.8%) 0.75 296
2018-03-01 $219,900 (18.9%) $261,810 (8.6%) 0.71 300
2018-04-01 $216,450 (12.2%) $257,976 (5.7%) 0.69 325
2018-05-01 $224,975 (16.9%) $263,283 (3.1%) 0.70 318
2018-06-01 $224,900 (18.4%) $264,335 (3.6%) 0.72 321
2018-07-01 $224,950 (12.5%) $266,536 (5.3%) 0.73 319
2018-08-01 $210,499 (5.3%) $260,234 (2.9%) 0.69 320
2018-09-01 $200,000 (0.0%) $256,460 (-0.1%) 0.70 343
2018-10-01 $209,938 (5.0%) $256,192 (0.0%) 0.72 341
2018-11-01 $202,000 (1.2%) $252,981 (1.8%) 0.70 354
2018-12-01 $199,450 (-4.6%) $255,955 (-1.6%) 0.70 344
2019-01-01 $196,125 (-6.2%) $246,290 (-7.9%) 0.69 344
2019-02-01 $204,500 (-2.6%) $250,711 (-7.2%) 0.72 313
2019-03-01 $226,143 (2.8%) $264,090 (0.9%) 0.73 288
2019-04-01 $249,338 (15.2%) $283,899 (10.1%) 0.76 268
2019-05-01 $249,988 (11.1%) $297,044 (12.8%) 0.76 275
2019-06-01 $250,000 (11.2%) $298,226 (12.8%) 0.77 284
2019-07-01 $239,450 (6.5%) $286,316 (7.4%) 0.73 293
2019-08-01 $228,336 (8.5%) $277,804 (6.8%) 0.71 317
2019-09-01 $212,341 (6.2%) $263,466 (2.7%) 0.69 351
2019-10-01 $199,325 (-5.1%) $251,926 (-1.7%) 0.63 384
2019-11-01 $193,750 (-4.1%) $245,878 (-2.8%) 0.62 380
2019-12-01 $189,699 (-4.9%) $246,197 (-3.8%) 0.64 353
2020-01-01 $189,000 (-3.6%) $246,683 (0.2%) 0.64 337
2020-02-01 $189,950 (-7.1%) $247,584 (-1.3%) 0.64 309
2020-03-01 $202,500 (-10.5%) $256,592 (-2.8%) 0.63 305
2020-04-01 $214,725 (-13.9%) $260,377 (-8.3%) 0.69 301
2020-05-01 $231,000 (-7.6%) $277,678 (-6.5%) 0.70 301
2020-06-01 $234,475 (-6.2%) $272,006 (-8.8%) 0.68 320
2020-07-01 $237,463 (-0.8%) $274,590 (-4.1%) 0.68 293
2020-08-01 $221,000 (-3.2%) $273,882 (-1.4%) 0.64 273
2020-09-01 $218,500 (2.9%) $275,978 (4.8%) 0.64 269
2020-10-01 $220,000 (10.4%) $275,257 (9.3%) 0.62 250
2020-11-01 $218,825 (12.9%) $278,688 (13.3%) 0.63 244
2020-12-01 $227,475 (19.9%) $279,618 (13.6%) 0.68 213
2021-01-01 $248,450 (31.5%) $287,546 (16.6%) 0.73 190
2021-02-01 $263,750 (38.9%) $299,636 (21.0%) 0.73 177
2021-03-01 $269,925 (33.3%) $306,010 (19.3%) 0.73 165
2021-04-01 $276,200 (28.6%) $322,410 (23.8%) 0.75 154
2021-05-01 $255,000 (10.4%) $306,727 (10.5%) 0.70 157
2021-06-01 $254,950 (8.7%) $297,489 (9.4%) 0.69 163
2021-07-01 $225,000 (-5.3%) $286,749 (4.4%) 0.61 176
2021-08-01 $219,575 (-0.6%) $285,222 (4.1%) 0.60 202
2021-09-01 $202,450 (-7.4%) $266,651 (-3.4%) 0.54 199
2021-10-01 $199,000 (-9.6%) $257,821 (-6.3%) 0.53 197
2021-11-01 $193,350 (-11.6%) $297,816 (6.9%) 0.51 175
2021-12-01 $205,000 (-9.9%) $316,562 (13.2%) 0.55 147
2022-01-01 $205,000 (-17.5%) $345,757 (20.2%) 0.55 115
2022-02-01 $287,250 (8.9%) $389,296 (29.9%) 0.74 112
2022-03-01 $305,000 (13.0%) $400,661 (30.9%) 0.73 102
2022-04-01 $300,000 (8.6%) $389,195 (20.7%) 0.73 109
2022-05-01 $300,000 (17.7%) $397,681 (29.7%) 0.69 131
2022-06-01 $312,250 (22.5%) $400,202 (34.5%) 0.68 153
2022-07-01 $295,000 (31.1%) $376,055 (31.1%) 0.66 179
2022-08-01 $292,725 (33.3%) $374,425 (31.3%) 0.66 185
2022-09-01 $284,988 (40.8%) $368,343 (38.1%) 0.00 187
2022-10-01 $297,000 (49.3%) $356,656 (38.3%) 0.00 188
2022-11-01 $294,000 (52.1%) $350,748 (17.8%) 0.00 226
2022-12-01 $307,500 (50.0%) $390,205 (23.3%) 0.00 223
2023-01-01 $312,875 (52.6%) $396,123 (14.6%) 0.00 199
2023-02-01 $308,500 (7.4%) $403,415 (3.6%) 0.00 197
2023-03-01 $335,575 (10.0%) $423,661 (5.7%) 0.00 187
2023-04-01 $344,500 (14.8%) $430,874 (10.7%) 0.00 178
2023-05-01 $330,000 (10.0%) $427,164 (7.4%) 0.00 191
2023-06-01 $342,250 (9.6%) $429,800 (7.4%) 0.00 207
2023-07-01 $335,000 (13.6%) $411,440 (9.4%) 0.00 221
2023-08-01 $319,700 (9.2%) $406,273 (8.5%) 0.00 231
2023-09-01 $284,950 (0.0%) $385,780 (4.7%) 0.00 274
2023-10-01 $270,738 (-8.8%) $376,637 (5.6%) 0.00 266
2023-11-01 $256,875 (-12.6%) $350,937 (0.1%) 0.00 278
2023-12-01 $252,950 (-17.7%) $354,017 (-9.3%) 0.00 259
2024-01-01 $250,713 (-19.9%) $352,647 (-11.0%) 0.00 238
2024-02-01 $249,975 (-19.0%) $359,927 (-10.8%) 0.00 214
2024-03-01 $282,425 (-15.8%) $379,485 (-10.4%) 0.00 231
2024-04-01 $294,963 (-14.4%) $380,489 (-11.7%) 0.00 249
2024-05-01 $324,475 (-1.7%) $394,728 (-7.6%) 0.00 257
2024-06-01 $309,000 (-9.7%) $379,456 (-11.7%) 0.00 268
Sioux City's median listing price for 2024-06-01 was $309,000, a difference of $-33,250 (-9.7%) versus the prior year and $-15,475 versus the prior month.

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

Sioux City's average listing price for 2024-06-01 was $379,456, a difference of $-50,344 (-11.7%) versus the prior year and $-15,272 versus the prior month.

For the 2024-06-01 period, Sioux City had 268 MLS listings, a difference of 11 listings (4%) versus the prior month and 61 listings (29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sioux City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 95 days 1,948 sqft
2018-02-01 94 days 1,978 sqft
2018-03-01 74 days 1,945 sqft
2018-04-01 50 days 1,933 sqft
2018-05-01 53 days 1,965 sqft
2018-06-01 57 days 1,982 sqft
2018-07-01 61 days 1,958 sqft
2018-08-01 58 days 2,005 sqft
2018-09-01 51 days 1,954 sqft
2018-10-01 58 days 1,965 sqft
2018-11-01 59 days 1,916 sqft
2018-12-01 72 days 1,900 sqft
2019-01-01 88 days 1,886 sqft
2019-02-01 95 days 1,838 sqft
2019-03-01 90 days 1,850 sqft
2019-04-01 64 days 1,903 sqft
2019-05-01 48 days 1,982 sqft
2019-06-01 56 days 2,016 sqft
2019-07-01 52 days 1,975 sqft
2019-08-01 55 days 1,959 sqft
2019-09-01 51 days 1,942 sqft
2019-10-01 49 days 1,920 sqft
2019-11-01 59 days 1,910 sqft
2019-12-01 72 days 1,924 sqft
2020-01-01 84 days 1,930 sqft
2020-02-01 80 days 1,936 sqft
2020-03-01 63 days 1,965 sqft
2020-04-01 67 days 1,929 sqft
2020-05-01 64 days 1,958 sqft
2020-06-01 54 days 1,930 sqft
2020-07-01 57 days 1,908 sqft
2020-08-01 65 days 1,824 sqft
2020-09-01 58 days 1,851 sqft
2020-10-01 55 days 1,902 sqft
2020-11-01 58 days 1,837 sqft
2020-12-01 71 days 1,755 sqft
2021-01-01 85 days 1,767 sqft
2021-02-01 94 days 1,773 sqft
2021-03-01 64 days 1,822 sqft
2021-04-01 50 days 1,921 sqft
2021-05-01 38 days 1,872 sqft
2021-06-01 37 days 1,853 sqft
2021-07-01 32 days 1,817 sqft
2021-08-01 38 days 1,704 sqft
2021-09-01 41 days 1,611 sqft
2021-10-01 37 days 1,668 sqft
2021-11-01 45 days 1,616 sqft
2021-12-01 55 days 1,616 sqft
2022-01-01 67 days 1,569 sqft
2022-02-01 37 days 1,696 sqft
2022-03-01 46 days 1,776 sqft
2022-04-01 38 days 1,753 sqft
2022-05-01 34 days 1,851 sqft
2022-06-01 30 days 1,937 sqft
2022-07-01 35 days 1,928 sqft
2022-08-01 39 days 1,930 sqft
2022-09-01 0 days 1,919 sqft
2022-10-01 0 days 1,992 sqft
2022-11-01 0 days 1,918 sqft
2022-12-01 0 days 2,103 sqft
2023-01-01 0 days 2,144 sqft
2023-02-01 0 days 2,141 sqft
2023-03-01 0 days 2,240 sqft
2023-04-01 0 days 2,259 sqft
2023-05-01 0 days 2,104 sqft
2023-06-01 0 days 2,170 sqft
2023-07-01 0 days 2,100 sqft
2023-08-01 0 days 2,102 sqft
2023-09-01 0 days 2,067 sqft
2023-10-01 0 days 1,981 sqft
2023-11-01 0 days 1,873 sqft
2023-12-01 0 days 1,869 sqft
2024-01-01 0 days 1,874 sqft
2024-02-01 0 days 1,874 sqft
2024-03-01 0 days 1,904 sqft
2024-04-01 0 days 2,026 sqft
2024-05-01 0 days 2,046 sqft
2024-06-01 0 days 2,100 sqft
Sioux City's median listing age (time on market) for 2024-06-01 was 0 days.

Sioux City's median square footage for active listings during the 2024-06-01 period was 2,100 sqft. One year prior, the average listing was 2,170 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.