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 51 lenders originated 219 VA loans during 2024. The total origination value was $64,925,000, with an average VA loan value of $296,461.

    St. Cloud VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in St. Cloud averaged 0.64% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    St. Cloud's average VA mortgage closing costs are $4,813.

    The average rate for the prior week (2025-06-13) was 6.78% and one month ago for the week of 2025-05-16, the average rate was 6.64%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.07%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 45 6.35% $3,815
    UNITED WHOLESALE MORTGAGE, LLC 25 6.02% $5,952
    QUICKEN LOANS, LLC 20 6.13% $7,878
    FREEDOM MORTGAGE CORPORATION 13 6.21% $7,988
    PENNYMAC LOAN SERVICES, LLC 9 5.63% $4,577
    NAVY FEDERAL CREDIT UNION 9 5.92% $4,203
    HOMEOWNERS FINANCIAL GROUP USA, LLC 6 6.42% $7,262
    BROKER SOLUTIONS, INC. 6 6.50% $7,500
    PLAZA HOME MORTGAGE, INC. 5 6.02% $17,118
    USAA Federal Savings Bank 5 6.20% $10,621
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.47% $5,388
    NEW DAY FINANCIAL, LLC 4 7.81% $11,736
    Prosperity Home Mortgage, LLC 4 6.06% $3,220
    ST. CLOUD FINANCIAL 4 6.16% $10,298
    NEWREZ LLC 3 6.83% $2,752
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.21% $4,872
    Bell Bank 3 6.38% $2,067
    CROSSCOUNTRY MORTGAGE, LLC 3 6.79% $2,396
    GUARANTEED RATE, INC. 3 6.52% $12,859
    Magnolia Bank 2 6.31% $23,301
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $2,166
    Barrington Bank & Trust Company, N.A. 2 5.87% $10,869
    PLANET HOME LENDING, LLC 2 6.75% $4,108
    MILEND, INC. 2 6.44% $13,121
    The Federal Savings Bank 2 6.13% $12,365
    LOANDEPOT.COM, LLC 2 6.06% $4,812
    Waterstone Mortgage Corporation 1 6.75% $15,755
    American Mortgage & Equity Consultants, Inc. 1 6.50% $11,739
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $10,880
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $2,689
    Bremer Bank 1 6.88% $5,678
    CMG MORTGAGE, INC. 1 5.00% $17,487
    Cornerstone First Mortgage, Inc 1 5.25% $9,343
    FIRST COLONY MORTGAGE CORPORATION 1 6.75% $4,779
    GoPrime Mortgage, Inc. 1 6.25% $11,255
    Lakeview Community Capital, LLC 1 6.25% $2,784
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $4,072
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.25% $9,225
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $4,958
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $8,618
    NBKC BANK 1 6.63% $1,687
    Paramount Residential Mortgage Group, Inc. 1 6.50% $17,634
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $14,111
    PHH Mortgage Corporation 1 4.99% $1,504
    Plains Commerce Bank 1 6.50% $4,995
    Summit Mortgage Corporation 1 5.75% $2,960
    The Huntington National Bank 1 6.25% $1,862
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 6.63% $3,664
    UNION HOME MORTGAGE CORP. 1 6.50% $7,775
    VILLAGE CAPITAL MORTGAGE 1 4.75% $5,482
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $3,707

    The top St. Cloud VA lender as defined by loan originations is Mortgage Research Center, LLC, with 45 VA loans originated. Their average total fees are $3,815, which is $2,137 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee St. Cloud VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,815), UNITED WHOLESALE MORTGAGE, LLC ($5,952), QUICKEN LOANS, LLC ($7,878), FREEDOM MORTGAGE CORPORATION ($7,988) and .

    The lowest rate St. Cloud VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.02%), QUICKEN LOANS, LLC (6.13%), FREEDOM MORTGAGE CORPORATION (6.21%), Mortgage Research Center, LLC (6.35%) and .

    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.