St. Cloud VA Loan Rates, Closing Costs & Stats

ST. CLOUD, 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.

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 0.14% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

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

The average rate for the prior week (2024-02-16) was 6.42% and one month ago for the week of 2024-01-19, the average rate was 6.38%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.89%.

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 $212,975 (8.0%) $249,381 (4.2%) 0.79 510
2018-02-01 $217,675 (0.1%) $259,815 (3.1%) 0.79 527
2018-03-01 $224,900 (0.0%) $270,566 (2.0%) 0.79 541
2018-04-01 $249,950 (12.3%) $286,099 (8.2%) 0.85 545
2018-05-01 $249,950 (13.7%) $291,671 (11.4%) 0.83 611
2018-06-01 $254,900 (18.3%) $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 (13.4%) 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 (11.2%) 0.84 655
2018-11-01 $229,950 (10.0%) $273,979 (8.4%) 0.78 620
2018-12-01 $229,948 (9.5%) $275,031 (8.9%) 0.79 534
2019-01-01 $232,400 (9.1%) $276,566 (10.9%) 0.80 469
2019-02-01 $236,950 (8.9%) $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 $245,875 (-1.0%) $284,921 (-2.3%) 0.77 739
2019-08-01 $235,318 (-4.8%) $276,272 (-4.6%) 0.75 760
2019-09-01 $232,270 (-3.2%) $270,958 (-4.8%) 0.74 739
2019-10-01 $229,950 (-7.0%) $267,267 (-6.0%) 0.74 724
2019-11-01 $229,900 (0.0%) $267,039 (-2.5%) 0.75 670
2019-12-01 $232,000 (0.9%) $268,986 (-2.2%) 0.77 547
2020-01-01 $229,925 (-1.1%) $266,935 (-3.5%) 0.77 488
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 (9.5%) $310,786 (9.1%) 0.78 498
2020-08-01 $258,950 (10.0%) $307,415 (11.3%) 0.74 471
2020-09-01 $266,175 (14.6%) $316,149 (16.7%) 0.76 462
2020-10-01 $259,400 (12.8%) $312,681 (17.0%) 0.74 447
2020-11-01 $252,450 (9.8%) $307,738 (15.2%) 0.74 350
2020-12-01 $250,725 (8.1%) $311,778 (15.9%) 0.75 293
2021-01-01 $249,950 (8.7%) $317,645 (19.0%) 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%) 0.81 302
2023-09-01 $349,000 (5.8%) $404,167 (6.2%) 0.81 323
2023-10-01 $329,125 (-1.8%) $387,745 (-0.4%) 0.77 348
2023-11-01 $316,675 (-2.6%) $378,485 (-0.3%) 0.75 340
2023-12-01 $319,900 (-1.6%) $377,852 (-1.8%) 0.78 301
St. Cloud's median listing price for 2023-12-01 was $319,900, a difference of $-5,100 (-1.6%) versus the prior year and $3,225 versus the prior month.

St. Cloud's median listing price comes in at 78% of the national average.

St. Cloud's average listing price for 2023-12-01 was $377,852, a difference of $-6,810 (-1.8%) versus the prior year and $-633 versus the prior month.

For the 2023-12-01 period, St. Cloud had 301 MLS listings, a difference of -39 listings (-11%) versus the prior month and 59 listings (24%) 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 1,815 sqft
2018-02-01 65 days 1,871 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 1,983 sqft
2019-08-01 54 days 1,975 sqft
2019-09-01 64 days 1,951 sqft
2019-10-01 70 days 1,926 sqft
2019-11-01 77 days 1,931 sqft
2019-12-01 89 days 1,959 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 1,900 sqft
2021-01-01 69 days 1,848 sqft
2021-02-01 47 days 1,905 sqft
2021-03-01 39 days 1,923 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 2,065 sqft
2022-10-01 46 days 2,060 sqft
2022-11-01 57 days 1,978 sqft
2022-12-01 71 days 1,945 sqft
2023-01-01 78 days 1,873 sqft
2023-02-01 73 days 2,002 sqft
2023-03-01 44 days 2,131 sqft
2023-04-01 44 days 2,061 sqft
2023-05-01 34 days 2,010 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
2023-09-01 46 days 2,079 sqft
2023-10-01 45 days 2,007 sqft
2023-11-01 53 days 1,953 sqft
2023-12-01 66 days 1,868 sqft
St. Cloud's median listing age (time on market) for 2023-12-01 was 66 days. This is -8% shorter than the same period one year ago.

St. Cloud's median square footage for active listings during the 2023-12-01 period was 1,868 sqft. One year prior, the average listing was 1,945 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.