Sioux City VA Loan Rates, Closing Costs & Stats

SIOUX CITY, IA-NE-SD

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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.

    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 6.63% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.46% and one month ago for the week of 2024-03-15, the average rate was 6.72%.

    The average rate one year ago was 6.11%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    Sioux City's median listing price for 2024-03-01 was $282,425, a difference of $-53,150 (-15.8%) versus the prior year and $32,450 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 2024-03-01 was $379,485, a difference of $-44,176 (-10.4%) versus the prior year and $19,558 versus the prior month.

    For the 2024-03-01 period, Sioux City had 231 MLS listings, a difference of 17 listings (8%) versus the prior month and 44 listings (24%) 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
    Sioux City's median listing age (time on market) for 2024-03-01 was 0 days.

    Sioux City's median square footage for active listings during the 2024-03-01 period was 1,904 sqft. One year prior, the average listing was 2,240 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.