Vermillion VA Loan Rates, Closing Costs & Stats

Vermillion, SD

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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.

    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 -0.03% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Vermillion's average VA mortgage closing costs are $5,786.

    The average rate for the prior week (2024-11-08) was 6.18% and one month ago for the week of 2024-10-11, the average rate was 6.15%.

    The average rate one year ago was 7.14%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    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
    2024-04-01 $310,000 (55.1%) $353,593 (33.9%) 0.00 16
    2024-05-01 $294,975 (37.2%) $366,606 (41.4%) 0.00 20
    2024-06-01 $283,750 (18.4%) $339,286 (29.5%) 0.00 22
    2024-07-01 $314,900 (32.6%) $349,055 (28.6%) 0.00 23
    2024-08-01 $325,000 (31.5%) $366,934 (31.7%) 0.00 28
    2024-09-01 $313,050 (6.1%) $352,464 (11.4%) 0.00 30
    2024-10-01 $308,450 (7.8%) $337,955 (4.5%) 0.00 26
    Vermillion's median listing price for 2024-10-01 was $308,450, a difference of $22,200 (7.8%) versus the prior year and $-4,600 versus the prior month.

    Vermillion's median listing price comes in at 0% of the national average.

    Vermillion's average listing price for 2024-10-01 was $337,955, a difference of $14,499 (4.5%) versus the prior year and $-14,509 versus the prior month.

    For the 2024-10-01 period, Vermillion had 26 MLS listings, a difference of -4 listings (-13%) versus the prior month and 10 listings (63%) 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
    2024-04-01 0 days 2,014 sqft
    2024-05-01 0 days 2,149 sqft
    2024-06-01 0 days 2,025 sqft
    2024-07-01 0 days 2,009 sqft
    2024-08-01 0 days 2,166 sqft
    2024-09-01 0 days 2,203 sqft
    2024-10-01 0 days 2,203 sqft
    Vermillion's median listing age (time on market) for 2024-10-01 was 0 days.

    Vermillion's median square footage for active listings during the 2024-10-01 period was 2,203 sqft. One year prior, the average listing was 2,065 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.