St. Cloud VA Loan Rates, Closing Costs & Stats

ST. CLOUD, 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.

    St. Cloud's 62 lenders originated 280 VA loans during 2022. The total origination value was $72,160,000, with an average VA loan value of $257,714.

    St. Cloud VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in St. Cloud averaged 6.67% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    St. Cloud's average VA mortgage closing costs are $4,343.

    The average rate for the prior week (2023-09-15) was 6.65% and one month ago for the week of 2023-08-18, the average rate was 7.03%.

    The average rate one year ago was 5.49%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.84%.

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

    St. Cloud 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 St. Cloud level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 48 5.31% $6,174
    FREEDOM MORTGAGE CORPORATION 18 4.29% $9,286
    QUICKEN LOANS, LLC 18 3.70% $6,440
    USAA Federal Savings Bank 13 4.09% $5,349
    UNITED WHOLESALE MORTGAGE, LLC 12 4.98% $6,158
    HOME POINT FINANCIAL CORPORATION 10 4.55% $6,772
    LOANDEPOT.COM, LLC 10 5.32% $7,966
    PENNYMAC LOAN SERVICES, LLC 8 3.91% $10,641
    NAVY FEDERAL CREDIT UNION 8 3.53% $7,037
    HOMEOWNERS FINANCIAL GROUP USA, LLC 7 4.32% $6,709
    PLAZA HOME MORTGAGE, INC. 7 4.45% $8,309
    CROSSCOUNTRY MORTGAGE, LLC 6 4.35% $9,757
    EVERETT FINANCIAL, INC. 6 5.54% $2,768
    NEW DAY FINANCIAL, LLC 6 5.50% $8,125
    BROKER SOLUTIONS, INC. 6 4.58% $8,957
    GUARANTEED RATE AFFINITY, LLC 5 5.29% $6,354
    Mr. Cooper ( Nationstar Mortgage ) 4 4.81% $7,933
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 5.00% $7,459
    Flagstar Bank, FSB 4 5.09% $6,143
    Wells Fargo Bank 3 4.00% $3,742
    BankVista 3 3.08% $5,010
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.21% $8,413
    GUARANTEED RATE, INC. 3 4.83% $9,499
    LAKEVIEW LOAN SERVICING, LLC 3 3.79% $3,165
    Liberty Bank Minnesota 3 4.38% $2,569
    MUTUAL OF OMAHA MORTGAGE, INC. 3 4.13% $5,157
    NEWREZ LLC 3 4.63% $6,685
    Servion, Inc. 3 3.83% $6,931
    ST. CLOUD FINANCIAL 3 4.63% $5,865
    The Federal Savings Bank 3 4.08% $18,329
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.00% $11,389
    Bell Bank 2 4.75% $11,593
    CRESCENT MORTGAGE COMPANY 2 5.31% $11,386
    Prosperity Home Mortgage, LLC 2 4.38% $5,774
    American Mortgage & Equity Consultants, Inc. 2 4.00% $5,175
    Bremer Bank 2 4.50% $5,401
    CALIBER HOME LOANS, INC. 2 4.50% $9,030
    BAY EQUITY LLC 2 5.31% $7,345
    BNC National Bank 1 4.25% $6,170
    NBKC BANK 1 4.25% $5,115
    Northpointe Bank 1 4.75% $4,255
    Paramount Residential Mortgage Group, Inc. 1 3.38% $7,685
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $23,588
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $11,998
    RESULTS MORTGAGE, LLC 1 4.38% $4,434
    U.S. Bank 1 2.75% $5,513
    Waterstone Mortgage Corporation 1 2.75% $16,008
    FINANCE OF AMERICA MORTGAGE LLC 1 4.50% $11,540
    DATA MORTGAGE, INC. 1 4.63% $13,821
    CONTOUR MORTGAGE CORPORATION 1 2.75% $5,659
    Texana Bank 1 5.13% $4,377
    GUILD MORTGAGE COMPANY 1 4.50% $3,251
    Heritage Bank 1 2.88% $3,594
    CMG MORTGAGE, INC. 1 4.88% $9,016
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.25% $6,360
    Carrington Mortgage Services, LLC 1 3.50% $839
    AMERICAN FINANCING CORPORATION 1 3.13% $5,390
    Tradition Mortgage, LLC 1 5.49% $9,989
    CARDINAL FINANCIAL 1 4.13% $7,183
    MEGASTAR FINANCIAL CORP. 1 2.75% $9,122
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,862
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $848

    The top St. Cloud VA lender as defined by loan originations is Mortgage Research Center, LLC, with 48 VA loans originated. Their average total fees are $6,174, which is $3,112 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee St. Cloud VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($5,349), UNITED WHOLESALE MORTGAGE, LLC ($6,158), Mortgage Research Center, LLC ($6,174), QUICKEN LOANS, LLC ($6,440) and HOME POINT FINANCIAL CORPORATION ($6,772).

    The lowest rate St. Cloud VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.70%), USAA Federal Savings Bank (4.09%), FREEDOM MORTGAGE CORPORATION (4.29%), HOME POINT FINANCIAL CORPORATION (4.55%) and UNITED WHOLESALE MORTGAGE, LLC (4.98%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - St. Cloud (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 $212,475 (7.9%) $249,326 (4.2%) 0.79 509
    2018-02-01 $217,450 (0.3%) $259,779 (3.2%) 0.79 526
    2018-03-01 $224,900 (0.0%) $270,550 (2.0%) 0.79 541
    2018-04-01 $249,950 (13.0%) $286,099 (8.3%) 0.85 545
    2018-05-01 $249,950 (13.7%) $291,671 (11.5%) 0.83 611
    2018-06-01 $254,900 (18.4%) $293,414 (12.8%) 0.85 619
    2018-07-01 $248,350 (18.3%) $291,583 (13.7%) 0.83 651
    2018-08-01 $247,200 (17.7%) $289,484 (13.5%) 0.83 642
    2018-09-01 $240,000 (14.3%) $284,748 (11.4%) 0.81 653
    2018-10-01 $247,175 (17.8%) $284,223 (11.3%) 0.84 655
    2018-11-01 $229,950 (10.1%) $273,979 (8.4%) 0.78 620
    2018-12-01 $229,948 (9.5%) $275,031 (9.0%) 0.79 534
    2019-01-01 $232,400 (9.4%) $276,566 (10.9%) 0.80 469
    2019-02-01 $236,950 (9.0%) $278,034 (7.0%) 0.80 463
    2019-03-01 $244,186 (8.6%) $286,589 (5.9%) 0.80 515
    2019-04-01 $249,186 (-0.3%) $290,251 (1.5%) 0.79 597
    2019-05-01 $249,900 (0.0%) $285,905 (-2.0%) 0.78 679
    2019-06-01 $249,900 (-2.0%) $286,802 (-2.3%) 0.78 715
    2019-07-01 $245,375 (-1.2%) $284,720 (-2.4%) 0.77 738
    2019-08-01 $234,336 (-5.2%) $276,061 (-4.6%) 0.74 759
    2019-09-01 $231,841 (-3.4%) $270,736 (-4.9%) 0.74 738
    2019-10-01 $229,950 (-7.0%) $267,032 (-6.1%) 0.74 723
    2019-11-01 $229,900 (0.0%) $266,766 (-2.6%) 0.75 669
    2019-12-01 $231,950 (0.9%) $268,696 (-2.3%) 0.77 546
    2020-01-01 $229,925 (-1.1%) $266,773 (-3.5%) 0.77 487
    2020-02-01 $250,000 (5.5%) $287,535 (3.4%) 0.82 495
    2020-03-01 $269,900 (10.5%) $300,822 (5.0%) 0.85 500
    2020-04-01 $267,950 (7.5%) $303,831 (4.7%) 0.84 529
    2020-05-01 $269,900 (8.0%) $304,052 (6.4%) 0.82 564
    2020-06-01 $271,425 (8.6%) $310,306 (8.2%) 0.80 539
    2020-07-01 $269,325 (9.8%) $310,786 (9.2%) 0.78 498
    2020-08-01 $258,950 (10.5%) $307,415 (11.4%) 0.74 471
    2020-09-01 $266,175 (14.8%) $316,149 (16.8%) 0.76 462
    2020-10-01 $259,400 (12.8%) $312,681 (17.1%) 0.74 447
    2020-11-01 $252,450 (9.8%) $307,738 (15.4%) 0.74 350
    2020-12-01 $250,725 (8.1%) $311,778 (16.0%) 0.75 293
    2021-01-01 $249,950 (8.7%) $317,645 (19.1%) 0.75 239
    2021-02-01 $272,450 (9.0%) $350,784 (22.0%) 0.79 221
    2021-03-01 $297,396 (10.2%) $367,540 (22.2%) 0.84 215
    2021-04-01 $297,450 (11.0%) $355,863 (17.1%) 0.81 217
    2021-05-01 $299,900 (11.1%) $368,103 (21.1%) 0.80 219
    2021-06-01 $284,925 (5.0%) $347,958 (12.1%) 0.75 294
    2021-07-01 $293,450 (9.0%) $351,267 (13.0%) 0.77 332
    2021-08-01 $289,950 (12.0%) $344,650 (12.1%) 0.77 355
    2021-09-01 $295,950 (11.2%) $342,646 (8.4%) 0.79 360
    2021-10-01 $284,950 (9.9%) $332,022 (6.2%) 0.76 363
    2021-11-01 $293,450 (16.2%) $334,994 (8.9%) 0.78 295
    2021-12-01 $299,900 (19.6%) $347,124 (11.3%) 0.81 242
    2022-01-01 $315,000 (26.0%) $360,734 (13.6%) 0.85 179
    2022-02-01 $322,900 (18.5%) $380,050 (8.3%) 0.84 153
    2022-03-01 $329,950 (11.0%) $399,942 (8.8%) 0.83 154
    2022-04-01 $349,900 (17.6%) $407,909 (14.6%) 0.83 189
    2022-05-01 $339,650 (13.3%) $406,284 (10.4%) 0.78 240
    2022-06-01 $328,450 (15.3%) $386,778 (11.2%) 0.73 302
    2022-07-01 $325,000 (10.8%) $381,650 (8.7%) 0.73 311
    2022-08-01 $335,900 (15.9%) $388,510 (12.7%) 0.78 308
    2022-09-01 $329,925 (11.5%) $380,471 (11.0%) 0.77 320
    2022-10-01 $335,000 (17.6%) $389,410 (17.3%) 0.79 312
    2022-11-01 $325,000 (10.8%) $379,659 (13.3%) 0.78 286
    2022-12-01 $325,000 (8.4%) $384,662 (10.8%) 0.80 242
    2023-01-01 $336,150 (6.7%) $386,875 (7.3%) 0.83 208
    2023-02-01 $354,925 (9.9%) $392,884 (3.4%) 0.86 198
    2023-03-01 $357,650 (8.4%) $405,380 (1.4%) 0.84 202
    2023-04-01 $374,900 (7.1%) $417,215 (2.3%) 0.87 210
    2023-05-01 $368,650 (8.5%) $431,155 (6.1%) 0.84 244
    2023-06-01 $354,975 (8.1%) $413,083 (6.8%) 0.80 276
    2023-07-01 $357,450 (10.0%) $410,184 (7.5%) 0.81 295
    2023-08-01 $354,900 (5.7%) $405,962 (4.5%) 0.82 302
    St. Cloud's median listing price for 2023-08-01 was $354,900, a difference of $19,000 (5.7%) versus the prior year and $-2,550 versus the prior month.

    St. Cloud's median listing price comes in at 82% of the national average.

    St. Cloud's average listing price for 2023-08-01 was $405,962, a difference of $17,452 (4.5%) versus the prior year and $-4,222 versus the prior month.

    For the 2023-08-01 period, St. Cloud had 302 MLS listings, a difference of 7 listings (2%) versus the prior month and -6 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - St. Cloud (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,817 sqft
    2018-02-01 65 days 1,872 sqft
    2018-03-01 54 days 1,900 sqft
    2018-04-01 52 days 1,999 sqft
    2018-05-01 46 days 2,016 sqft
    2018-06-01 45 days 2,041 sqft
    2018-07-01 51 days 2,047 sqft
    2018-08-01 57 days 2,045 sqft
    2018-09-01 57 days 2,044 sqft
    2018-10-01 55 days 2,003 sqft
    2018-11-01 61 days 1,947 sqft
    2018-12-01 80 days 1,851 sqft
    2019-01-01 87 days 1,850 sqft
    2019-02-01 78 days 1,841 sqft
    2019-03-01 59 days 1,902 sqft
    2019-04-01 39 days 2,003 sqft
    2019-05-01 38 days 1,968 sqft
    2019-06-01 42 days 1,974 sqft
    2019-07-01 47 days 1,984 sqft
    2019-08-01 55 days 1,976 sqft
    2019-09-01 64 days 1,949 sqft
    2019-10-01 70 days 1,925 sqft
    2019-11-01 77 days 1,928 sqft
    2019-12-01 89 days 1,958 sqft
    2020-01-01 86 days 1,968 sqft
    2020-02-01 75 days 2,043 sqft
    2020-03-01 51 days 2,105 sqft
    2020-04-01 46 days 2,101 sqft
    2020-05-01 47 days 2,071 sqft
    2020-06-01 46 days 2,063 sqft
    2020-07-01 48 days 2,055 sqft
    2020-08-01 47 days 2,128 sqft
    2020-09-01 45 days 2,109 sqft
    2020-10-01 47 days 2,025 sqft
    2020-11-01 55 days 1,929 sqft
    2020-12-01 66 days 1,901 sqft
    2021-01-01 69 days 1,849 sqft
    2021-02-01 47 days 1,905 sqft
    2021-03-01 39 days 1,926 sqft
    2021-04-01 32 days 1,920 sqft
    2021-05-01 35 days 1,957 sqft
    2021-06-01 30 days 1,916 sqft
    2021-07-01 34 days 1,952 sqft
    2021-08-01 35 days 1,945 sqft
    2021-09-01 39 days 1,934 sqft
    2021-10-01 43 days 1,909 sqft
    2021-11-01 50 days 1,931 sqft
    2021-12-01 60 days 1,946 sqft
    2022-01-01 77 days 1,911 sqft
    2022-02-01 58 days 2,212 sqft
    2022-03-01 33 days 2,217 sqft
    2022-04-01 23 days 2,256 sqft
    2022-05-01 21 days 2,103 sqft
    2022-06-01 29 days 2,053 sqft
    2022-07-01 39 days 2,100 sqft
    2022-08-01 39 days 2,124 sqft
    2022-09-01 46 days 2,067 sqft
    2022-10-01 46 days 2,064 sqft
    2022-11-01 57 days 1,982 sqft
    2022-12-01 71 days 1,945 sqft
    2023-01-01 78 days 1,870 sqft
    2023-02-01 73 days 2,002 sqft
    2023-03-01 44 days 2,134 sqft
    2023-04-01 44 days 2,061 sqft
    2023-05-01 34 days 2,009 sqft
    2023-06-01 30 days 2,036 sqft
    2023-07-01 37 days 2,028 sqft
    2023-08-01 46 days 2,052 sqft
    St. Cloud's median listing age (time on market) for 2023-08-01 was 46 days. This is 16% longer than the same period one year ago.

    St. Cloud's median square footage for active listings during the 2023-08-01 period was 2,052 sqft. One year prior, the average listing was 2,124 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.