Storm Lake VA Loan Rates, Closing Costs & Stats
Storm Lake, IA
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.
Storm Lake's 5 lenders originated 5 VA loans during 2023. The total origination value was $1,225,000, with an average VA loan value of $245,000.
Storm Lake VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Storm Lake
averaged
6.7%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Storm Lake's average VA mortgage closing costs are $4,513.
The average rate for the prior week (2024-04-12) was
6.84% and
one month ago for the week of 2024-03-15, the
average rate was 6.6%.
The average rate one year ago was 6.19%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Storm Lake 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 Storm Lake level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mr. Cooper ( Nationstar Mortgage ) | 1 | 7.25% | $2,282 |
| NAVY FEDERAL CREDIT UNION | 1 | 5.25% | $6,108 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 5.25% | $3,471 |
| QUICKEN LOANS, LLC | 1 | 6.49% | $9,855 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.63% | $16,664 |
The top Storm Lake VA lender as defined by loan originations is Mr. Cooper ( Nationstar Mortgage ), with
1 VA loans originated. Their average total fees are
$2,282, which is $3,826
lower than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Storm Lake VA lenders (with over 10 loans originated) are
.
The lowest rate Storm Lake VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Storm Lake (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 | $153,738 (34.7%) | $174,160 (37.2%) | 0.00 | 32 |
| 2018-02-01 | $155,000 (47.0%) | $173,924 (43.0%) | 0.00 | 32 |
| 2018-03-01 | $148,400 (50.1%) | $162,428 (23.7%) | 0.00 | 32 |
| 2018-04-01 | $133,925 (41.0%) | $148,260 (-6.7%) | 0.00 | 31 |
| 2018-05-01 | $110,450 (3.7%) | $140,968 (3.9%) | 0.00 | 27 |
| 2018-06-01 | $122,900 (37.7%) | $149,145 (30.5%) | 0.00 | 26 |
| 2018-07-01 | $135,325 (20.3%) | $165,175 (12.8%) | 0.00 | 28 |
| 2018-08-01 | $129,675 (-2.0%) | $158,192 (-9.4%) | 0.00 | 29 |
| 2018-09-01 | $124,900 (-12.6%) | $153,153 (-15.3%) | 0.00 | 30 |
| 2018-10-01 | $117,500 (-17.5%) | $133,368 (-24.6%) | 0.00 | 42 |
| 2018-11-01 | $112,250 (-7.6%) | $138,497 (-13.5%) | 0.00 | 42 |
| 2018-12-01 | $117,500 (-15.7%) | $137,641 (-17.0%) | 0.00 | 37 |
| 2019-01-01 | $118,950 (-22.6%) | $140,884 (-19.1%) | 0.00 | 34 |
| 2019-02-01 | $118,575 (-23.5%) | $140,095 (-19.5%) | 0.00 | 35 |
| 2019-03-01 | $120,371 (-18.9%) | $142,162 (-12.5%) | 0.00 | 32 |
| 2019-04-01 | $114,446 (-14.5%) | $142,698 (-3.8%) | 0.00 | 32 |
| 2019-05-01 | $115,375 (4.5%) | $153,213 (8.7%) | 0.00 | 38 |
| 2019-06-01 | $109,725 (-10.7%) | $149,792 (0.4%) | 0.00 | 37 |
| 2019-07-01 | $131,000 (-3.2%) | $149,738 (-9.4%) | 0.00 | 33 |
| 2019-08-01 | $129,364 (-0.2%) | $148,121 (-6.4%) | 0.00 | 30 |
| 2019-09-01 | $122,409 (-2.0%) | $145,522 (-5.0%) | 0.00 | 29 |
| 2019-10-01 | $110,875 (-5.6%) | $143,146 (7.3%) | 0.00 | 28 |
| 2019-11-01 | $101,000 (-10.0%) | $119,267 (-13.9%) | 0.00 | 24 |
| 2019-12-01 | $90,000 (-23.4%) | $118,321 (-14.0%) | 0.00 | 19 |
| 2020-01-01 | $90,000 (-24.3%) | $115,101 (-18.3%) | 0.00 | 19 |
| 2020-02-01 | $79,700 (-32.8%) | $95,669 (-31.7%) | 0.00 | 25 |
| 2020-03-01 | $90,000 (-25.2%) | $113,238 (-20.4%) | 0.00 | 27 |
| 2020-04-01 | $90,000 (-21.4%) | $124,666 (-12.6%) | 0.00 | 27 |
| 2020-05-01 | $92,500 (-19.8%) | $146,371 (-4.5%) | 0.00 | 27 |
| 2020-06-01 | $146,250 (33.3%) | $165,389 (10.4%) | 0.00 | 27 |
| 2020-07-01 | $147,250 (12.4%) | $168,154 (12.3%) | 0.00 | 28 |
| 2020-08-01 | $173,900 (34.4%) | $191,244 (29.1%) | 0.00 | 30 |
| 2020-09-01 | $175,000 (43.0%) | $198,728 (36.6%) | 0.00 | 27 |
| 2020-10-01 | $162,500 (46.6%) | $187,103 (30.7%) | 0.00 | 28 |
| 2020-11-01 | $166,975 (65.3%) | $179,197 (50.3%) | 0.00 | 26 |
| 2020-12-01 | $167,225 (85.8%) | $189,075 (59.8%) | 0.00 | 22 |
| 2021-01-01 | $174,950 (94.4%) | $193,022 (67.7%) | 0.00 | 19 |
| 2021-02-01 | $187,000 (134.6%) | $200,506 (109.6%) | 0.00 | 17 |
| 2021-03-01 | $193,625 (115.1%) | $201,370 (77.8%) | 0.00 | 16 |
| 2021-04-01 | $246,000 (173.3%) | $235,097 (88.6%) | 0.00 | 16 |
| 2021-05-01 | $240,000 (159.5%) | $226,720 (54.9%) | 0.00 | 12 |
| 2021-06-01 | $168,500 (15.2%) | $174,675 (5.6%) | 0.00 | 12 |
| 2021-07-01 | $124,900 (-15.2%) | $120,189 (-28.5%) | 0.00 | 9 |
| 2021-08-01 | $111,250 (-36.0%) | $136,138 (-28.8%) | 0.00 | 13 |
| 2021-09-01 | $162,250 (-7.3%) | $173,385 (-12.8%) | 0.00 | 15 |
| 2021-10-01 | $150,000 (-7.7%) | $194,013 (3.7%) | 0.00 | 21 |
| 2021-11-01 | $148,725 (-10.9%) | $196,323 (9.6%) | 0.00 | 23 |
| 2021-12-01 | $155,000 (-7.3%) | $194,688 (3.0%) | 0.00 | 21 |
| 2022-01-01 | $169,900 (-2.9%) | $226,876 (17.5%) | 0.00 | 17 |
| 2022-02-01 | $189,750 (1.5%) | $241,412 (20.4%) | 0.00 | 15 |
| 2022-03-01 | $186,750 (-3.6%) | $223,173 (10.8%) | 0.00 | 17 |
| 2022-04-01 | $215,000 (-12.6%) | $227,021 (-3.4%) | 0.00 | 15 |
| 2022-05-01 | $211,425 (-11.9%) | $232,146 (2.4%) | 0.00 | 14 |
| 2022-06-01 | $212,450 (26.1%) | $206,424 (18.2%) | 0.00 | 18 |
| 2022-07-01 | $236,000 (89.0%) | $262,492 (118.4%) | 0.00 | 21 |
| 2022-08-01 | $225,750 (102.9%) | $247,620 (81.9%) | 0.00 | 25 |
| 2022-09-01 | $234,750 (44.7%) | $241,716 (39.4%) | 0.00 | 23 |
| 2022-10-01 | $247,000 (64.7%) | $245,271 (26.4%) | 0.00 | 26 |
| 2022-11-01 | $228,000 (53.3%) | $239,053 (21.8%) | 0.00 | 28 |
| 2022-12-01 | $228,000 (47.1%) | $233,309 (19.8%) | 0.00 | 30 |
| 2023-01-01 | $228,000 (34.2%) | $236,075 (4.1%) | 0.00 | 28 |
| 2023-02-01 | $226,000 (19.1%) | $235,588 (-2.4%) | 0.00 | 30 |
| 2023-03-01 | $223,500 (19.7%) | $232,152 (4.0%) | 0.00 | 29 |
| 2023-04-01 | $228,000 (6.1%) | $238,148 (4.9%) | 0.00 | 27 |
| 2023-05-01 | $260,250 (23.1%) | $288,685 (24.4%) | 0.00 | 25 |
| 2023-06-01 | $280,750 (32.2%) | $301,076 (45.9%) | 0.00 | 29 |
| 2023-07-01 | $271,000 (14.8%) | $256,316 (-2.4%) | 0.00 | 28 |
| 2023-08-01 | $271,000 (20.0%) | $252,166 (1.8%) | 0.00 | 32 |
| 2023-09-01 | $267,000 (13.7%) | $253,506 (4.9%) | 0.00 | 33 |
| 2023-10-01 | $249,375 (1.0%) | $242,836 (-1.0%) | 0.00 | 30 |
| 2023-11-01 | $234,500 (2.9%) | $240,365 (0.6%) | 0.00 | 32 |
| 2023-12-01 | $228,000 (0.0%) | $228,680 (-2.0%) | 0.00 | 27 |
| 2024-01-01 | $235,250 (3.2%) | $231,327 (-2.0%) | 0.00 | 25 |
| 2024-02-01 | $235,250 (4.1%) | $229,794 (-2.5%) | 0.00 | 25 |
| 2024-03-01 | $235,000 (5.2%) | $245,262 (5.7%) | 0.00 | 30 |
Storm Lake's median listing price comes in at 0% of the national average.
Storm Lake's average listing price for 2024-03-01 was $245,262, a difference of $13,110 (5.7%) versus the prior year and $15,468 versus the prior month.
For the 2024-03-01 period, Storm Lake had 30 MLS listings, a difference of 5 listings (20%) versus the prior month and 1 listings (3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Storm Lake (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,699 sqft |
| 2018-02-01 | 0 days | 1,644 sqft |
| 2018-03-01 | 0 days | 1,587 sqft |
| 2018-04-01 | 0 days | 1,655 sqft |
| 2018-05-01 | 0 days | 1,722 sqft |
| 2018-06-01 | 0 days | 1,715 sqft |
| 2018-07-01 | 0 days | 1,859 sqft |
| 2018-08-01 | 0 days | 1,771 sqft |
| 2018-09-01 | 0 days | 1,776 sqft |
| 2018-10-01 | 0 days | 1,541 sqft |
| 2018-11-01 | 0 days | 1,573 sqft |
| 2018-12-01 | 0 days | 1,476 sqft |
| 2019-01-01 | 0 days | 1,478 sqft |
| 2019-02-01 | 0 days | 1,573 sqft |
| 2019-03-01 | 0 days | 1,670 sqft |
| 2019-04-01 | 0 days | 1,639 sqft |
| 2019-05-01 | 0 days | 1,503 sqft |
| 2019-06-01 | 0 days | 1,512 sqft |
| 2019-07-01 | 0 days | 1,644 sqft |
| 2019-08-01 | 0 days | 1,657 sqft |
| 2019-09-01 | 0 days | 1,671 sqft |
| 2019-10-01 | 0 days | 1,680 sqft |
| 2019-11-01 | 0 days | 1,497 sqft |
| 2019-12-01 | 0 days | 1,435 sqft |
| 2020-01-01 | 0 days | 1,642 sqft |
| 2020-02-01 | 0 days | 1,296 sqft |
| 2020-03-01 | 0 days | 1,364 sqft |
| 2020-04-01 | 0 days | 1,308 sqft |
| 2020-05-01 | 0 days | 1,572 sqft |
| 2020-06-01 | 0 days | 1,882 sqft |
| 2020-07-01 | 0 days | 1,933 sqft |
| 2020-08-01 | 0 days | 2,143 sqft |
| 2020-09-01 | 0 days | 2,152 sqft |
| 2020-10-01 | 0 days | 2,122 sqft |
| 2020-11-01 | 0 days | 2,087 sqft |
| 2020-12-01 | 0 days | 2,026 sqft |
| 2021-01-01 | 0 days | 2,006 sqft |
| 2021-02-01 | 0 days | 1,985 sqft |
| 2021-03-01 | 0 days | 2,085 sqft |
| 2021-04-01 | 0 days | 2,091 sqft |
| 2021-05-01 | 0 days | 2,100 sqft |
| 2021-06-01 | 0 days | 2,041 sqft |
| 2021-07-01 | 0 days | 1,573 sqft |
| 2021-08-01 | 0 days | 1,611 sqft |
| 2021-09-01 | 0 days | 1,818 sqft |
| 2021-10-01 | 0 days | 1,600 sqft |
| 2021-11-01 | 0 days | 1,588 sqft |
| 2021-12-01 | 0 days | 1,618 sqft |
| 2022-01-01 | 0 days | 1,593 sqft |
| 2022-02-01 | 0 days | 1,640 sqft |
| 2022-03-01 | 0 days | 1,697 sqft |
| 2022-04-01 | 0 days | 1,356 sqft |
| 2022-05-01 | 0 days | 1,374 sqft |
| 2022-06-01 | 0 days | 1,299 sqft |
| 2022-07-01 | 0 days | 1,299 sqft |
| 2022-08-01 | 0 days | 1,387 sqft |
| 2022-09-01 | 0 days | 1,696 sqft |
| 2022-10-01 | 0 days | 1,765 sqft |
| 2022-11-01 | 0 days | 1,781 sqft |
| 2022-12-01 | 0 days | 1,757 sqft |
| 2023-01-01 | 0 days | 1,780 sqft |
| 2023-02-01 | 0 days | 1,588 sqft |
| 2023-03-01 | 0 days | 1,587 sqft |
| 2023-04-01 | 0 days | 1,786 sqft |
| 2023-05-01 | 0 days | 1,837 sqft |
| 2023-06-01 | 0 days | 1,864 sqft |
| 2023-07-01 | 0 days | 1,907 sqft |
| 2023-08-01 | 0 days | 1,982 sqft |
| 2023-09-01 | 0 days | 1,860 sqft |
| 2023-10-01 | 0 days | 2,069 sqft |
| 2023-11-01 | 0 days | 2,032 sqft |
| 2023-12-01 | 0 days | 1,824 sqft |
| 2024-01-01 | 0 days | 1,700 sqft |
| 2024-02-01 | 0 days | 1,602 sqft |
| 2024-03-01 | 0 days | 1,636 sqft |
Storm Lake's median square footage for active listings during the 2024-03-01 period was 1,636 sqft. One year prior, the average listing was 1,587 sqft.