Spearfish VA Loan Rates, Closing Costs & Stats
Spearfish, 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.
Spearfish's 13 lenders originated 37 VA loans during 2023. The total origination value was $13,165,000, with an average VA loan value of $355,811.
Spearfish VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Spearfish
averaged
0.16%
for the week of 2024-11-15, compared to the national average (all VA variants) of
0% for the same period.
Spearfish's average VA mortgage closing costs are $6,121.
The average rate for the prior week (2024-11-08) was
6.26% and
one month ago for the week of 2024-10-11, the
average rate was 6.13%.
The average rate one year ago was 7.32%.
For refis of the same type during the week of 2024-11-15, the average rate
was 0.1%.
Spearfish 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 Spearfish level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| CMG MORTGAGE, INC. | 9 | 6.11% | $9,861 |
| PENNYMAC LOAN SERVICES, LLC | 4 | 5.97% | $9,254 |
| USAA Federal Savings Bank | 2 | 6.00% | $7,597 |
| BLACK HILLS FEDERAL CREDIT UNION | 2 | 5.13% | $7,914 |
| Mortgage Research Center, LLC | 2 | 6.88% | $4,397 |
| QUICKEN LOANS, LLC | 2 | 5.87% | $5,909 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 5.81% | $6,926 |
| NAVY FEDERAL CREDIT UNION | 1 | 2.88% | $1,898 |
| Flagstar Bank, FSB | 1 | 5.75% | $23,954 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 6.75% | $30,646 |
| Gateway First Bank | 1 | 6.25% | $16,012 |
| LOANDEPOT.COM, LLC | 1 | 6.99% | $9,798 |
| Unify Home Lending Inc. | 1 | 6.50% | $6,524 |
The top Spearfish VA lender as defined by loan originations is CMG MORTGAGE, INC., with
9 VA loans originated. Their average total fees are
$9,861, which is $607
higher than the next largest lender,
PENNYMAC LOAN SERVICES, LLC.
The lowest fee Spearfish VA lenders (with over 10 loans originated) are
.
The lowest rate Spearfish VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Spearfish (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 | $379,000 (26.4%) | $418,675 (18.0%) | 0.00 | 206 |
| 2018-02-01 | $375,000 (17.4%) | $416,304 (15.6%) | 0.00 | 213 |
| 2018-03-01 | $359,900 (10.7%) | $410,579 (10.8%) | 0.00 | 216 |
| 2018-04-01 | $364,200 (8.9%) | $409,982 (8.0%) | 0.00 | 216 |
| 2018-05-01 | $348,000 (7.1%) | $397,017 (4.2%) | 0.00 | 236 |
| 2018-06-01 | $354,450 (7.4%) | $398,514 (1.2%) | 0.00 | 246 |
| 2018-07-01 | $349,900 (4.9%) | $396,520 (-3.4%) | 0.00 | 269 |
| 2018-08-01 | $352,500 (7.9%) | $397,832 (-1.5%) | 0.00 | 268 |
| 2018-09-01 | $364,500 (13.4%) | $404,910 (-0.7%) | 0.00 | 262 |
| 2018-10-01 | $358,500 (7.3%) | $411,352 (5.8%) | 0.00 | 243 |
| 2018-11-01 | $346,075 (-3.8%) | $397,111 (2.3%) | 0.00 | 229 |
| 2018-12-01 | $358,950 (-1.7%) | $401,647 (0.9%) | 0.00 | 216 |
| 2019-01-01 | $351,250 (-7.3%) | $401,875 (-4.0%) | 0.00 | 210 |
| 2019-02-01 | $342,248 (-8.7%) | $399,977 (-3.9%) | 0.00 | 214 |
| 2019-03-01 | $348,143 (-3.3%) | $420,799 (2.5%) | 0.00 | 224 |
| 2019-04-01 | $364,000 (-0.1%) | $447,893 (9.3%) | 0.00 | 227 |
| 2019-05-01 | $392,500 (12.8%) | $449,914 (13.3%) | 0.00 | 248 |
| 2019-06-01 | $417,500 (17.8%) | $467,654 (17.4%) | 0.00 | 249 |
| 2019-07-01 | $404,225 (15.5%) | $452,216 (14.1%) | 0.00 | 259 |
| 2019-08-01 | $411,145 (16.6%) | $460,594 (15.8%) | 0.00 | 255 |
| 2019-09-01 | $430,189 (18.0%) | $481,031 (18.8%) | 0.00 | 254 |
| 2019-10-01 | $445,000 (24.1%) | $498,305 (21.1%) | 0.00 | 254 |
| 2019-11-01 | $437,450 (26.4%) | $495,926 (24.9%) | 0.00 | 235 |
| 2019-12-01 | $429,900 (19.8%) | $487,875 (21.5%) | 0.00 | 210 |
| 2020-01-01 | $421,250 (19.9%) | $466,182 (16.0%) | 0.00 | 191 |
| 2020-02-01 | $425,000 (24.2%) | $474,357 (18.6%) | 0.00 | 186 |
| 2020-03-01 | $434,725 (24.9%) | $475,321 (13.0%) | 0.00 | 168 |
| 2020-04-01 | $409,248 (12.4%) | $456,395 (1.9%) | 0.00 | 182 |
| 2020-05-01 | $398,500 (1.5%) | $442,037 (-1.8%) | 0.00 | 196 |
| 2020-06-01 | $398,625 (-4.5%) | $457,569 (-2.2%) | 0.00 | 199 |
| 2020-07-01 | $419,975 (3.9%) | $464,833 (2.8%) | 0.00 | 191 |
| 2020-08-01 | $394,500 (-4.1%) | $424,991 (-7.7%) | 0.00 | 179 |
| 2020-09-01 | $385,350 (-10.4%) | $430,063 (-10.6%) | 0.00 | 142 |
| 2020-10-01 | $383,250 (-13.9%) | $434,483 (-12.8%) | 0.00 | 111 |
| 2020-11-01 | $394,375 (-9.9%) | $446,156 (-10.0%) | 0.00 | 107 |
| 2020-12-01 | $409,500 (-4.8%) | $452,383 (-7.3%) | 0.00 | 96 |
| 2021-01-01 | $375,000 (-11.0%) | $431,177 (-7.5%) | 0.00 | 88 |
| 2021-02-01 | $357,625 (-15.9%) | $439,055 (-7.4%) | 0.00 | 67 |
| 2021-03-01 | $441,500 (1.6%) | $470,586 (-1.0%) | 0.00 | 68 |
| 2021-04-01 | $525,000 (28.3%) | $514,126 (12.7%) | 0.00 | 70 |
| 2021-05-01 | $475,000 (19.2%) | $560,905 (26.9%) | 0.00 | 82 |
| 2021-06-01 | $500,000 (25.4%) | $620,472 (35.6%) | 0.00 | 87 |
| 2021-07-01 | $495,000 (17.9%) | $637,388 (37.1%) | 0.00 | 97 |
| 2021-08-01 | $499,450 (26.6%) | $624,924 (47.0%) | 0.00 | 109 |
| 2021-09-01 | $480,950 (24.8%) | $599,523 (39.4%) | 0.00 | 90 |
| 2021-10-01 | $449,925 (17.4%) | $572,453 (31.8%) | 0.00 | 93 |
| 2021-11-01 | $475,750 (20.6%) | $661,054 (48.2%) | 0.00 | 84 |
| 2021-12-01 | $525,500 (28.3%) | $676,239 (49.5%) | 0.00 | 73 |
| 2022-01-01 | $599,900 (60.0%) | $787,917 (82.7%) | 0.00 | 61 |
| 2022-02-01 | $640,250 (79.0%) | $745,868 (69.9%) | 0.00 | 63 |
| 2022-03-01 | $649,750 (47.2%) | $736,917 (56.6%) | 0.00 | 78 |
| 2022-04-01 | $740,000 (41.0%) | $790,702 (53.8%) | 0.00 | 105 |
| 2022-05-01 | $753,000 (58.5%) | $873,258 (55.7%) | 0.00 | 85 |
| 2022-06-01 | $776,000 (55.2%) | $862,642 (39.0%) | 0.00 | 93 |
| 2022-07-01 | $675,000 (36.4%) | $838,274 (31.5%) | 0.00 | 122 |
| 2022-08-01 | $649,700 (30.1%) | $823,756 (31.8%) | 0.00 | 141 |
| 2022-09-01 | $655,500 (36.3%) | $826,803 (37.9%) | 0.00 | 136 |
| 2022-10-01 | $659,000 (46.5%) | $869,532 (51.9%) | 0.00 | 131 |
| 2022-11-01 | $737,000 (54.9%) | $897,178 (35.7%) | 0.00 | 111 |
| 2022-12-01 | $629,000 (19.7%) | $836,804 (23.7%) | 0.00 | 120 |
| 2023-01-01 | $599,500 (-0.1%) | $794,615 (0.9%) | 0.00 | 115 |
| 2023-02-01 | $659,500 (3.0%) | $850,391 (14.0%) | 0.00 | 114 |
| 2023-03-01 | $696,825 (7.3%) | $853,240 (15.8%) | 0.00 | 107 |
| 2023-04-01 | $672,000 (-9.2%) | $864,264 (9.3%) | 0.00 | 113 |
| 2023-05-01 | $799,000 (6.1%) | $892,940 (2.3%) | 0.00 | 127 |
| 2023-06-01 | $797,000 (2.7%) | $892,496 (3.5%) | 0.00 | 142 |
| 2023-07-01 | $789,000 (16.9%) | $856,943 (2.2%) | 0.00 | 156 |
| 2023-08-01 | $799,450 (23.1%) | $897,417 (8.9%) | 0.00 | 153 |
| 2023-09-01 | $805,000 (22.8%) | $895,056 (8.3%) | 0.00 | 151 |
| 2023-10-01 | $837,000 (27.0%) | $891,381 (2.5%) | 0.00 | 140 |
| 2023-11-01 | $857,450 (16.3%) | $886,710 (-1.2%) | 0.00 | 128 |
| 2023-12-01 | $827,000 (31.5%) | $905,556 (8.2%) | 0.00 | 121 |
| 2024-01-01 | $816,000 (36.1%) | $880,609 (10.8%) | 0.00 | 114 |
| 2024-02-01 | $801,175 (21.5%) | $880,035 (3.5%) | 0.00 | 112 |
| 2024-03-01 | $829,000 (19.0%) | $901,511 (5.7%) | 0.00 | 133 |
| 2024-04-01 | $837,125 (24.6%) | $930,832 (7.7%) | 0.00 | 152 |
| 2024-05-01 | $798,500 (-0.1%) | $890,957 (-0.2%) | 0.00 | 174 |
| 2024-06-01 | $838,250 (5.2%) | $913,685 (2.4%) | 0.00 | 186 |
| 2024-07-01 | $824,500 (4.5%) | $915,100 (6.8%) | 0.00 | 215 |
| 2024-08-01 | $808,000 (1.1%) | $928,020 (3.4%) | 0.00 | 217 |
| 2024-09-01 | $799,450 (-0.7%) | $943,386 (5.4%) | 0.00 | 219 |
| 2024-10-01 | $786,750 (-6.0%) | $912,814 (2.4%) | 0.00 | 218 |
Spearfish's median listing price comes in at 0% of the national average.
Spearfish's average listing price for 2024-10-01 was $912,814, a difference of $21,433 (2.4%) versus the prior year and $-30,572 versus the prior month.
For the 2024-10-01 period, Spearfish had 218 MLS listings, a difference of -1 listings (0%) versus the prior month and 78 listings (56%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Spearfish (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 2,376 sqft |
| 2018-02-01 | 0 days | 2,380 sqft |
| 2018-03-01 | 0 days | 2,450 sqft |
| 2018-04-01 | 0 days | 2,535 sqft |
| 2018-05-01 | 0 days | 2,419 sqft |
| 2018-06-01 | 0 days | 2,409 sqft |
| 2018-07-01 | 0 days | 2,508 sqft |
| 2018-08-01 | 0 days | 2,495 sqft |
| 2018-09-01 | 0 days | 2,512 sqft |
| 2018-10-01 | 0 days | 2,576 sqft |
| 2018-11-01 | 0 days | 2,576 sqft |
| 2018-12-01 | 0 days | 2,600 sqft |
| 2019-01-01 | 0 days | 2,526 sqft |
| 2019-02-01 | 0 days | 2,508 sqft |
| 2019-03-01 | 0 days | 2,524 sqft |
| 2019-04-01 | 0 days | 2,561 sqft |
| 2019-05-01 | 0 days | 2,548 sqft |
| 2019-06-01 | 0 days | 2,645 sqft |
| 2019-07-01 | 0 days | 2,600 sqft |
| 2019-08-01 | 0 days | 2,607 sqft |
| 2019-09-01 | 0 days | 2,677 sqft |
| 2019-10-01 | 0 days | 2,736 sqft |
| 2019-11-01 | 0 days | 2,712 sqft |
| 2019-12-01 | 0 days | 2,726 sqft |
| 2020-01-01 | 0 days | 2,670 sqft |
| 2020-02-01 | 0 days | 2,700 sqft |
| 2020-03-01 | 0 days | 2,693 sqft |
| 2020-04-01 | 0 days | 2,435 sqft |
| 2020-05-01 | 0 days | 2,361 sqft |
| 2020-06-01 | 0 days | 2,396 sqft |
| 2020-07-01 | 0 days | 2,485 sqft |
| 2020-08-01 | 0 days | 2,270 sqft |
| 2020-09-01 | 0 days | 2,194 sqft |
| 2020-10-01 | 0 days | 2,098 sqft |
| 2020-11-01 | 0 days | 2,162 sqft |
| 2020-12-01 | 0 days | 2,029 sqft |
| 2021-01-01 | 0 days | 1,977 sqft |
| 2021-02-01 | 0 days | 1,977 sqft |
| 2021-03-01 | 0 days | 1,977 sqft |
| 2021-04-01 | 0 days | 2,144 sqft |
| 2021-05-01 | 0 days | 2,157 sqft |
| 2021-06-01 | 0 days | 2,021 sqft |
| 2021-07-01 | 0 days | 2,089 sqft |
| 2021-08-01 | 0 days | 2,301 sqft |
| 2021-09-01 | 0 days | 2,170 sqft |
| 2021-10-01 | 0 days | 2,104 sqft |
| 2021-11-01 | 0 days | 2,257 sqft |
| 2021-12-01 | 0 days | 2,420 sqft |
| 2022-01-01 | 0 days | 2,610 sqft |
| 2022-02-01 | 0 days | 2,666 sqft |
| 2022-03-01 | 0 days | 2,541 sqft |
| 2022-04-01 | 0 days | 2,372 sqft |
| 2022-05-01 | 0 days | 2,530 sqft |
| 2022-06-01 | 0 days | 2,583 sqft |
| 2022-07-01 | 0 days | 2,588 sqft |
| 2022-08-01 | 0 days | 2,473 sqft |
| 2022-09-01 | 0 days | 2,423 sqft |
| 2022-10-01 | 0 days | 2,407 sqft |
| 2022-11-01 | 0 days | 2,473 sqft |
| 2022-12-01 | 0 days | 2,304 sqft |
| 2023-01-01 | 0 days | 2,312 sqft |
| 2023-02-01 | 0 days | 2,371 sqft |
| 2023-03-01 | 0 days | 2,363 sqft |
| 2023-04-01 | 0 days | 2,427 sqft |
| 2023-05-01 | 0 days | 2,669 sqft |
| 2023-06-01 | 0 days | 2,617 sqft |
| 2023-07-01 | 0 days | 2,430 sqft |
| 2023-08-01 | 0 days | 2,625 sqft |
| 2023-09-01 | 0 days | 2,665 sqft |
| 2023-10-01 | 0 days | 2,724 sqft |
| 2023-11-01 | 0 days | 2,791 sqft |
| 2023-12-01 | 0 days | 2,753 sqft |
| 2024-01-01 | 0 days | 2,490 sqft |
| 2024-02-01 | 0 days | 2,347 sqft |
| 2024-03-01 | 0 days | 2,555 sqft |
| 2024-04-01 | 0 days | 2,738 sqft |
| 2024-05-01 | 0 days | 2,742 sqft |
| 2024-06-01 | 0 days | 2,818 sqft |
| 2024-07-01 | 0 days | 2,817 sqft |
| 2024-08-01 | 0 days | 2,656 sqft |
| 2024-09-01 | 0 days | 2,551 sqft |
| 2024-10-01 | 0 days | 2,520 sqft |
Spearfish's median square footage for active listings during the 2024-10-01 period was 2,520 sqft. One year prior, the average listing was 2,724 sqft.