Vermillion VA Loan Rates, Closing Costs & Stats
Vermillion, SD
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.
Vermillion's 9 lenders originated 11 VA loans during 2023. The total origination value was $3,145,000, with an average VA loan value of $285,909.
Vermillion VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Vermillion
averaged
6.83%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Vermillion's average VA mortgage closing costs are $5,786.
The average rate for the prior week (2024-04-12) was
6.76% and
one month ago for the week of 2024-03-15, the
average rate was 6.33%.
The average rate one year ago was 6.02%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Vermillion 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 Vermillion level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 6.06% | $7,877 |
| Mortgage Research Center, LLC | 2 | 6.49% | $10,087 |
| Flanagan State Bank | 1 | 7.13% | $12,410 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.75% | $23,166 |
| NAVY FEDERAL CREDIT UNION | 1 | 5.88% | $44 |
| Plains Commerce Bank | 1 | 6.13% | $8,993 |
| CU MORTGAGE DIRECT, LLC | 1 | 6.25% | $9,568 |
| USAA Federal Savings Bank | 1 | 6.50% | $12,791 |
| First Bank & Trust | 1 | 6.13% | $11,682 |
The top Vermillion VA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
2 VA loans originated. Their average total fees are
$7,877, which is $2,211
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Vermillion VA lenders (with over 10 loans originated) are
.
The lowest rate Vermillion VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Vermillion (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 | $150,725 (-18.0%) | $173,677 (-7.0%) | 0.00 | 26 |
| 2018-02-01 | $179,925 (-1.8%) | $203,648 (8.8%) | 0.00 | 28 |
| 2018-03-01 | $219,500 (17.6%) | $216,027 (10.2%) | 0.00 | 30 |
| 2018-04-01 | $225,925 (18.3%) | $232,509 (13.2%) | 0.00 | 36 |
| 2018-05-01 | $216,425 (22.0%) | $223,744 (10.3%) | 0.00 | 30 |
| 2018-06-01 | $220,000 (25.7%) | $223,461 (11.8%) | 0.00 | 33 |
| 2018-07-01 | $225,900 (27.3%) | $224,433 (18.5%) | 0.00 | 33 |
| 2018-08-01 | $181,150 (1.3%) | $199,425 (4.7%) | 0.00 | 35 |
| 2018-09-01 | $189,950 (11.8%) | $207,871 (14.7%) | 0.00 | 24 |
| 2018-10-01 | $179,900 (4.3%) | $204,614 (14.8%) | 0.00 | 22 |
| 2018-11-01 | $203,725 (30.4%) | $225,184 (28.4%) | 0.00 | 20 |
| 2018-12-01 | $259,900 (74.4%) | $258,347 (47.2%) | 0.00 | 17 |
| 2019-01-01 | $254,950 (69.2%) | $247,153 (42.3%) | 0.00 | 16 |
| 2019-02-01 | $264,450 (47.0%) | $253,660 (24.6%) | 0.00 | 23 |
| 2019-03-01 | $241,786 (10.2%) | $245,136 (13.5%) | 0.00 | 25 |
| 2019-04-01 | $227,011 (0.5%) | $238,918 (2.8%) | 0.00 | 26 |
| 2019-05-01 | $183,700 (-15.1%) | $199,676 (-10.8%) | 0.00 | 24 |
| 2019-06-01 | $189,900 (-13.7%) | $224,406 (0.4%) | 0.00 | 31 |
| 2019-07-01 | $184,950 (-18.1%) | $207,916 (-7.4%) | 0.00 | 36 |
| 2019-08-01 | $178,108 (-1.7%) | $203,425 (2.0%) | 0.00 | 36 |
| 2019-09-01 | $167,919 (-11.6%) | $208,409 (0.3%) | 0.00 | 34 |
| 2019-10-01 | $161,127 (-10.4%) | $211,829 (3.5%) | 0.00 | 32 |
| 2019-11-01 | $159,948 (-21.5%) | $216,159 (-4.0%) | 0.00 | 30 |
| 2019-12-01 | $154,500 (-40.6%) | $225,688 (-12.6%) | 0.00 | 26 |
| 2020-01-01 | $156,950 (-38.4%) | $238,896 (-3.3%) | 0.00 | 23 |
| 2020-02-01 | $139,900 (-47.1%) | $209,074 (-17.6%) | 0.00 | 27 |
| 2020-03-01 | $159,450 (-34.1%) | $220,990 (-9.9%) | 0.00 | 26 |
| 2020-04-01 | $158,675 (-30.1%) | $237,158 (-0.7%) | 0.00 | 27 |
| 2020-05-01 | $199,900 (8.8%) | $255,561 (28.0%) | 0.00 | 28 |
| 2020-06-01 | $198,675 (4.6%) | $260,713 (16.2%) | 0.00 | 29 |
| 2020-07-01 | $196,225 (6.1%) | $273,595 (31.6%) | 0.00 | 29 |
| 2020-08-01 | $189,900 (6.6%) | $284,648 (39.9%) | 0.00 | 24 |
| 2020-09-01 | $181,925 (8.3%) | $283,441 (36.0%) | 0.00 | 24 |
| 2020-10-01 | $179,000 (11.1%) | $286,787 (35.4%) | 0.00 | 25 |
| 2020-11-01 | $169,900 (6.2%) | $230,993 (6.9%) | 0.00 | 27 |
| 2020-12-01 | $236,175 (52.9%) | $305,567 (35.4%) | 0.00 | 17 |
| 2021-01-01 | $289,900 (84.7%) | $323,650 (35.5%) | 0.00 | 14 |
| 2021-02-01 | $279,900 (100.1%) | $323,506 (54.7%) | 0.00 | 14 |
| 2021-03-01 | $198,675 (24.6%) | $276,535 (25.1%) | 0.00 | 14 |
| 2021-04-01 | $231,450 (45.9%) | $368,735 (55.5%) | 0.00 | 14 |
| 2021-05-01 | $199,900 (0.0%) | $333,105 (30.3%) | 0.00 | 19 |
| 2021-06-01 | $253,750 (27.7%) | $331,083 (27.0%) | 0.00 | 21 |
| 2021-07-01 | $230,000 (17.2%) | $288,243 (5.4%) | 0.00 | 24 |
| 2021-08-01 | $217,400 (14.5%) | $282,369 (-0.8%) | 0.00 | 22 |
| 2021-09-01 | $219,450 (20.6%) | $297,570 (5.0%) | 0.00 | 18 |
| 2021-10-01 | $235,000 (31.3%) | $300,704 (4.9%) | 0.00 | 17 |
| 2021-11-01 | $200,725 (18.1%) | $290,479 (25.8%) | 0.00 | 18 |
| 2021-12-01 | $230,925 (-2.2%) | $309,238 (1.2%) | 0.00 | 17 |
| 2022-01-01 | $254,950 (-12.1%) | $331,681 (2.5%) | 0.00 | 14 |
| 2022-02-01 | $274,900 (-1.8%) | $285,496 (-11.8%) | 0.00 | 10 |
| 2022-03-01 | $242,450 (22.0%) | $371,326 (34.3%) | 0.00 | 10 |
| 2022-04-01 | $335,000 (44.7%) | $489,288 (32.7%) | 0.00 | 12 |
| 2022-05-01 | $368,675 (84.4%) | $541,042 (62.4%) | 0.00 | 12 |
| 2022-06-01 | $382,400 (50.7%) | $524,387 (58.4%) | 0.00 | 16 |
| 2022-07-01 | $275,000 (19.6%) | $454,043 (57.5%) | 0.00 | 19 |
| 2022-08-01 | $215,350 (-0.9%) | $336,849 (19.3%) | 0.00 | 27 |
| 2022-09-01 | $224,900 (2.5%) | $374,251 (25.8%) | 0.00 | 32 |
| 2022-10-01 | $234,900 (0.0%) | $341,439 (13.6%) | 0.00 | 27 |
| 2022-11-01 | $255,000 (27.0%) | $360,824 (24.2%) | 0.00 | 20 |
| 2022-12-01 | $260,000 (12.6%) | $379,200 (22.6%) | 0.00 | 17 |
| 2023-01-01 | $271,225 (6.4%) | $257,364 (-22.4%) | 0.00 | 15 |
| 2023-02-01 | $274,950 (0.0%) | $269,630 (-5.6%) | 0.00 | 10 |
| 2023-03-01 | $250,000 (3.1%) | $259,128 (-30.2%) | 0.00 | 10 |
| 2023-04-01 | $199,900 (-40.3%) | $264,150 (-46.0%) | 0.00 | 11 |
| 2023-05-01 | $215,000 (-41.7%) | $259,208 (-52.1%) | 0.00 | 19 |
| 2023-06-01 | $239,750 (-37.3%) | $261,937 (-50.1%) | 0.00 | 24 |
| 2023-07-01 | $237,540 (-13.6%) | $271,515 (-40.2%) | 0.00 | 20 |
| 2023-08-01 | $247,200 (14.8%) | $278,637 (-17.3%) | 0.00 | 18 |
| 2023-09-01 | $295,000 (31.2%) | $316,300 (-15.5%) | 0.00 | 17 |
| 2023-10-01 | $286,250 (21.9%) | $323,456 (-5.3%) | 0.00 | 16 |
| 2023-11-01 | $303,225 (18.9%) | $336,899 (-6.6%) | 0.00 | 17 |
| 2023-12-01 | $314,900 (21.1%) | $329,137 (-13.2%) | 0.00 | 16 |
| 2024-01-01 | $355,550 (31.1%) | $371,377 (44.3%) | 0.00 | 12 |
| 2024-02-01 | $325,600 (18.4%) | $345,614 (28.2%) | 0.00 | 16 |
| 2024-03-01 | $312,450 (25.0%) | $330,275 (27.5%) | 0.00 | 15 |
Vermillion's median listing price comes in at 0% of the national average.
Vermillion's average listing price for 2024-03-01 was $330,275, a difference of $71,147 (27.5%) versus the prior year and $-15,339 versus the prior month.
For the 2024-03-01 period, Vermillion had 15 MLS listings, a difference of -1 listings (-6%) versus the prior month and 5 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vermillion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,920 sqft |
| 2018-02-01 | 0 days | 2,216 sqft |
| 2018-03-01 | 0 days | 2,460 sqft |
| 2018-04-01 | 0 days | 2,460 sqft |
| 2018-05-01 | 0 days | 2,402 sqft |
| 2018-06-01 | 0 days | 2,415 sqft |
| 2018-07-01 | 0 days | 2,373 sqft |
| 2018-08-01 | 0 days | 2,105 sqft |
| 2018-09-01 | 0 days | 2,109 sqft |
| 2018-10-01 | 0 days | 2,108 sqft |
| 2018-11-01 | 0 days | 2,170 sqft |
| 2018-12-01 | 0 days | 2,694 sqft |
| 2019-01-01 | 0 days | 2,480 sqft |
| 2019-02-01 | 0 days | 2,549 sqft |
| 2019-03-01 | 0 days | 2,172 sqft |
| 2019-04-01 | 0 days | 1,803 sqft |
| 2019-05-01 | 0 days | 1,912 sqft |
| 2019-06-01 | 0 days | 1,901 sqft |
| 2019-07-01 | 0 days | 1,846 sqft |
| 2019-08-01 | 0 days | 1,824 sqft |
| 2019-09-01 | 0 days | 1,800 sqft |
| 2019-10-01 | 0 days | 1,782 sqft |
| 2019-11-01 | 0 days | 1,758 sqft |
| 2019-12-01 | 0 days | 1,693 sqft |
| 2020-01-01 | 0 days | 1,532 sqft |
| 2020-02-01 | 0 days | 1,474 sqft |
| 2020-03-01 | 0 days | 1,516 sqft |
| 2020-04-01 | 0 days | 1,524 sqft |
| 2020-05-01 | 0 days | 1,540 sqft |
| 2020-06-01 | 0 days | 1,798 sqft |
| 2020-07-01 | 0 days | 1,944 sqft |
| 2020-08-01 | 0 days | 1,825 sqft |
| 2020-09-01 | 0 days | 1,836 sqft |
| 2020-10-01 | 0 days | 1,846 sqft |
| 2020-11-01 | 0 days | 1,830 sqft |
| 2020-12-01 | 0 days | 1,874 sqft |
| 2021-01-01 | 0 days | 2,133 sqft |
| 2021-02-01 | 0 days | 2,340 sqft |
| 2021-03-01 | 0 days | 2,354 sqft |
| 2021-04-01 | 0 days | 2,318 sqft |
| 2021-05-01 | 0 days | 2,252 sqft |
| 2021-06-01 | 0 days | 2,252 sqft |
| 2021-07-01 | 0 days | 2,167 sqft |
| 2021-08-01 | 0 days | 2,015 sqft |
| 2021-09-01 | 0 days | 2,195 sqft |
| 2021-10-01 | 0 days | 1,825 sqft |
| 2021-11-01 | 0 days | 1,609 sqft |
| 2021-12-01 | 0 days | 1,741 sqft |
| 2022-01-01 | 0 days | 1,560 sqft |
| 2022-02-01 | 0 days | 2,314 sqft |
| 2022-03-01 | 0 days | 1,539 sqft |
| 2022-04-01 | 0 days | 1,800 sqft |
| 2022-05-01 | 0 days | 1,645 sqft |
| 2022-06-01 | 0 days | 2,313 sqft |
| 2022-07-01 | 0 days | 1,822 sqft |
| 2022-08-01 | 0 days | 1,697 sqft |
| 2022-09-01 | 0 days | 1,689 sqft |
| 2022-10-01 | 0 days | 1,728 sqft |
| 2022-11-01 | 0 days | 1,740 sqft |
| 2022-12-01 | 0 days | 1,760 sqft |
| 2023-01-01 | 0 days | 2,264 sqft |
| 2023-02-01 | 0 days | 2,262 sqft |
| 2023-03-01 | 0 days | 2,033 sqft |
| 2023-04-01 | 0 days | 1,947 sqft |
| 2023-05-01 | 0 days | 2,044 sqft |
| 2023-06-01 | 0 days | 1,948 sqft |
| 2023-07-01 | 0 days | 1,728 sqft |
| 2023-08-01 | 0 days | 1,635 sqft |
| 2023-09-01 | 0 days | 1,752 sqft |
| 2023-10-01 | 0 days | 2,065 sqft |
| 2023-11-01 | 0 days | 2,014 sqft |
| 2023-12-01 | 0 days | 1,958 sqft |
| 2024-01-01 | 0 days | 2,131 sqft |
| 2024-02-01 | 0 days | 2,121 sqft |
| 2024-03-01 | 0 days | 2,079 sqft |
Vermillion's median square footage for active listings during the 2024-03-01 period was 2,079 sqft. One year prior, the average listing was 2,033 sqft.