St. Joseph VA Loan Rates, Closing Costs & Stats

ST. JOSEPH, MO-KS

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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. Joseph's 31 lenders originated 109 VA loans during 2023. The total origination value was $23,115,000, with an average VA loan value of $212,064.

    St. Joseph VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in St. Joseph averaged 6.76% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    St. Joseph's average VA mortgage closing costs are $4,728.

    The average rate for the prior week (2024-11-01) was 6.61% and one month ago for the week of 2024-10-04, the average rate was 5.84%.

    The average rate one year ago was 7.8%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.44%.

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

    St. Joseph 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. Joseph level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 27 6.93% $2,901
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.60% $4,851
    QUICKEN LOANS, LLC 7 6.48% $7,265
    NAVY FEDERAL CREDIT UNION 6 5.83% $2,328
    Flanagan State Bank 4 6.78% $4,548
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.81% $689
    ENDEAVOR CAPITAL, LLC. 4 6.90% $9,728
    Mr. Cooper ( Nationstar Mortgage ) 3 6.21% $9,433
    PENNYMAC LOAN SERVICES, LLC 3 5.62% $13,453
    NEW DAY FINANCIAL, LLC 3 7.75% $10,673
    NBH Bank 3 7.25% $7,417
    Barrington Bank & Trust Company, N.A. 3 5.88% $3,851
    U.S. Bank 2 6.75% $5,679
    FLAT BRANCH MORTGAGE, INC. 2 7.00% $3,341
    LEADERONE FINANCIAL CORPORATION 2 6.94% $13,461
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $1,581
    NBKC BANK 2 6.63% $10,030
    SUMMIT FUNDING, INC. 2 6.25% $4,274
    UNITED WHOLESALE MORTGAGE, LLC 2 6.81% $7,939
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $3,918
    HALLMARK HOME MORTGAGE, LLC 1 6.75% $6,462
    NEWREZ LLC 1 7.25% $3,978
    GUARANTEED RATE, INC. 1 6.25% $0
    Commerce Bank 1 6.88% $9,908
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $3,866
    USAA Federal Savings Bank 1 5.00% $9,284
    The Federal Savings Bank 1 6.25% $16,130
    UMB Bank 1 6.63% $2,381
    Mortgage Investment Services Corporation 1 7.25% $2,151
    MID AMERICA MORTGAGE, INC. 1 6.75% $2,946
    HOMESIDE FINANCIAL, LLC 1 7.75% $13,645

    The top St. Joseph VA lender as defined by loan originations is Mortgage Research Center, LLC, with 27 VA loans originated. Their average total fees are $2,901, which is $1,950 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee St. Joseph VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($2,901), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,851), .

    The lowest rate St. Joseph VA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.60%), Mortgage Research Center, LLC (6.93%), .

    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.