Waterloo VA Loan Rates, Closing Costs & Stats
WATERLOO-CEDAR FALLS, 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.
Waterloo's 20 lenders originated 94 VA loans during 2023. The total origination value was $23,430,000, with an average VA loan value of $249,255.
Waterloo VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Waterloo
averaged
6.72%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Waterloo's average VA mortgage closing costs are $4,713.
The average rate for the prior week (2024-04-12) was
6.55% and
one month ago for the week of 2024-03-15, the
average rate was 6.61%.
The average rate one year ago was 5.9%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Waterloo 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 Waterloo level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| VERIDIAN CREDIT UNION | 23 | 5.91% | $5,498 |
| Mortgage Research Center, LLC | 20 | 6.88% | $4,389 |
| GREENSTATE CREDIT UNION | 13 | 5.80% | $5,048 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 5 | 6.30% | $10,525 |
| NEW DAY FINANCIAL, LLC | 4 | 7.15% | $10,822 |
| QUICKEN LOANS, LLC | 4 | 6.22% | $16,796 |
| Lincoln Savings Bank | 4 | 6.34% | $5,724 |
| Wells Fargo Bank | 3 | 5.71% | $5,037 |
| GUARANTEED RATE, INC. | 3 | 6.04% | $5,596 |
| VILLAGE CAPITAL MORTGAGE | 2 | 5.69% | $4,138 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.75% | $12,230 |
| NAVY FEDERAL CREDIT UNION | 1 | 5.88% | $6,578 |
| LOANDEPOT.COM, LLC | 1 | 5.63% | $5,637 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 6.63% | $27,309 |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 1 | 6.25% | $10,671 |
| LAND HOME FINANCIAL SERVICES, INC. | 1 | 6.13% | $20,292 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 7.63% | $15,129 |
| IOWA BANKERS MORTGAGE CORPORATION | 1 | 6.63% | $8,516 |
| Mr. Cooper ( Nationstar Mortgage ) | 1 | 5.75% | $14,298 |
| BROKER SOLUTIONS, INC. | 1 | 7.13% | $5,654 |
The top Waterloo VA lender as defined by loan originations is VERIDIAN CREDIT UNION, with
23 VA loans originated. Their average total fees are
$5,498, which is $1,109
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Waterloo VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,389), GREENSTATE CREDIT UNION ($5,048), VERIDIAN CREDIT UNION ($5,498), .
The lowest rate Waterloo VA lenders (with over 10 loans originated) are
GREENSTATE CREDIT UNION (5.80%), VERIDIAN CREDIT UNION (5.91%), Mortgage Research Center, LLC (6.88%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Waterloo (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 | $134,450 (-0.4%) | $174,971 (3.1%) | 0.50 | 638 |
| 2018-02-01 | $136,675 (-2.0%) | $172,046 (0.1%) | 0.50 | 609 |
| 2018-03-01 | $139,900 (-3.3%) | $174,382 (-2.5%) | 0.49 | 578 |
| 2018-04-01 | $144,350 (-2.9%) | $179,836 (-0.4%) | 0.49 | 563 |
| 2018-05-01 | $140,950 (-2.8%) | $180,471 (0.9%) | 0.47 | 573 |
| 2018-06-01 | $145,000 (-0.5%) | $183,976 (2.5%) | 0.48 | 622 |
| 2018-07-01 | $146,750 (1.2%) | $183,529 (2.2%) | 0.49 | 652 |
| 2018-08-01 | $144,900 (-0.2%) | $183,942 (1.1%) | 0.49 | 682 |
| 2018-09-01 | $143,000 (0.2%) | $185,299 (3.5%) | 0.48 | 660 |
| 2018-10-01 | $144,750 (3.5%) | $184,141 (2.4%) | 0.49 | 656 |
| 2018-11-01 | $144,900 (3.9%) | $182,257 (2.3%) | 0.49 | 642 |
| 2018-12-01 | $139,900 (4.5%) | $183,931 (6.3%) | 0.48 | 595 |
| 2019-01-01 | $143,700 (6.9%) | $187,857 (7.4%) | 0.50 | 529 |
| 2019-02-01 | $148,200 (8.4%) | $193,424 (12.4%) | 0.50 | 496 |
| 2019-03-01 | $154,186 (10.2%) | $204,567 (17.3%) | 0.50 | 484 |
| 2019-04-01 | $159,186 (10.3%) | $209,612 (16.6%) | 0.51 | 499 |
| 2019-05-01 | $161,900 (14.9%) | $212,423 (17.7%) | 0.51 | 528 |
| 2019-06-01 | $169,900 (17.2%) | $216,133 (17.5%) | 0.53 | 577 |
| 2019-07-01 | $170,700 (16.3%) | $214,103 (16.7%) | 0.53 | 560 |
| 2019-08-01 | $167,118 (15.3%) | $209,836 (14.1%) | 0.53 | 579 |
| 2019-09-01 | $165,870 (16.0%) | $210,417 (13.6%) | 0.53 | 604 |
| 2019-10-01 | $165,039 (14.0%) | $210,292 (14.2%) | 0.53 | 624 |
| 2019-11-01 | $162,500 (12.2%) | $203,873 (11.9%) | 0.53 | 608 |
| 2019-12-01 | $164,400 (17.5%) | $201,060 (9.3%) | 0.55 | 572 |
| 2020-01-01 | $164,575 (14.5%) | $202,332 (7.7%) | 0.55 | 525 |
| 2020-02-01 | $165,000 (11.3%) | $207,932 (7.5%) | 0.54 | 476 |
| 2020-03-01 | $159,000 (3.1%) | $204,694 (0.1%) | 0.50 | 487 |
| 2020-04-01 | $159,600 (0.3%) | $206,654 (-1.4%) | 0.50 | 490 |
| 2020-05-01 | $170,000 (5.0%) | $216,575 (2.0%) | 0.52 | 456 |
| 2020-06-01 | $175,488 (3.3%) | $225,125 (4.2%) | 0.52 | 460 |
| 2020-07-01 | $179,500 (5.2%) | $231,431 (8.1%) | 0.52 | 445 |
| 2020-08-01 | $177,500 (6.2%) | $230,356 (9.8%) | 0.51 | 437 |
| 2020-09-01 | $171,500 (3.4%) | $223,629 (6.3%) | 0.49 | 416 |
| 2020-10-01 | $164,900 (-0.1%) | $217,744 (3.5%) | 0.47 | 441 |
| 2020-11-01 | $158,600 (-2.4%) | $219,702 (7.8%) | 0.46 | 432 |
| 2020-12-01 | $151,800 (-7.7%) | $225,401 (12.1%) | 0.45 | 360 |
| 2021-01-01 | $159,900 (-2.8%) | $233,656 (15.5%) | 0.48 | 303 |
| 2021-02-01 | $161,250 (-2.3%) | $226,888 (9.1%) | 0.47 | 253 |
| 2021-03-01 | $158,725 (-0.2%) | $224,142 (9.5%) | 0.45 | 219 |
| 2021-04-01 | $169,900 (6.5%) | $236,546 (14.5%) | 0.46 | 196 |
| 2021-05-01 | $168,950 (-0.6%) | $225,015 (3.9%) | 0.45 | 188 |
| 2021-06-01 | $161,500 (-8.0%) | $217,287 (-3.5%) | 0.43 | 218 |
| 2021-07-01 | $164,900 (-8.1%) | $216,372 (-6.5%) | 0.44 | 260 |
| 2021-08-01 | $159,862 (-9.9%) | $214,679 (-6.8%) | 0.43 | 295 |
| 2021-09-01 | $151,100 (-11.9%) | $213,810 (-4.4%) | 0.40 | 290 |
| 2021-10-01 | $149,900 (-9.1%) | $212,255 (-2.5%) | 0.40 | 278 |
| 2021-11-01 | $149,450 (-5.8%) | $202,300 (-7.9%) | 0.40 | 255 |
| 2021-12-01 | $148,450 (-2.2%) | $196,329 (-12.9%) | 0.40 | 219 |
| 2022-01-01 | $159,250 (-0.4%) | $207,197 (-11.3%) | 0.43 | 186 |
| 2022-02-01 | $182,425 (13.1%) | $256,410 (13.0%) | 0.47 | 142 |
| 2022-03-01 | $237,450 (49.6%) | $262,136 (17.0%) | 0.59 | 127 |
| 2022-04-01 | $229,950 (35.3%) | $272,845 (15.4%) | 0.55 | 128 |
| 2022-05-01 | $227,500 (34.7%) | $277,517 (23.3%) | 0.52 | 148 |
| 2022-06-01 | $223,500 (38.4%) | $270,979 (24.7%) | 0.50 | 177 |
| 2022-07-01 | $199,000 (20.7%) | $247,402 (14.3%) | 0.45 | 222 |
| 2022-08-01 | $217,188 (35.9%) | $260,678 (21.4%) | 0.50 | 227 |
| 2022-09-01 | $234,130 (55.0%) | $274,516 (28.4%) | 0.55 | 226 |
| 2022-10-01 | $239,500 (59.8%) | $285,647 (34.6%) | 0.56 | 228 |
| 2022-11-01 | $229,575 (53.6%) | $276,979 (36.9%) | 0.55 | 224 |
| 2022-12-01 | $219,950 (48.2%) | $265,692 (35.3%) | 0.54 | 201 |
| 2023-01-01 | $218,450 (37.2%) | $262,936 (26.9%) | 0.54 | 183 |
| 2023-02-01 | $257,225 (41.0%) | $279,394 (9.0%) | 0.62 | 163 |
| 2023-03-01 | $262,950 (10.7%) | $275,798 (5.2%) | 0.62 | 162 |
| 2023-04-01 | $258,500 (12.4%) | $268,712 (-1.5%) | 0.60 | 155 |
| 2023-05-01 | $268,675 (18.1%) | $282,049 (1.6%) | 0.61 | 166 |
| 2023-06-01 | $254,925 (14.1%) | $280,959 (3.7%) | 0.57 | 183 |
| 2023-07-01 | $259,750 (30.5%) | $290,972 (17.6%) | 0.59 | 191 |
| 2023-08-01 | $216,225 (-0.4%) | $275,106 (5.5%) | 0.50 | 231 |
| 2023-09-01 | $224,900 (-3.9%) | $274,471 (0.0%) | 0.52 | 233 |
| 2023-10-01 | $249,950 (4.4%) | $278,611 (-2.5%) | 0.59 | 246 |
| 2023-11-01 | $264,450 (15.2%) | $286,544 (3.5%) | 0.63 | 264 |
| 2023-12-01 | $259,900 (18.2%) | $284,475 (7.1%) | 0.63 | 255 |
| 2024-01-01 | $267,450 (22.4%) | $299,271 (13.8%) | 0.65 | 227 |
| 2024-02-01 | $273,900 (6.5%) | $310,535 (11.2%) | 0.66 | 211 |
| 2024-03-01 | $280,450 (6.7%) | $320,963 (16.4%) | 0.66 | 220 |
Waterloo's median listing price comes in at 66% of the national average.
Waterloo's average listing price for 2024-03-01 was $320,963, a difference of $45,165 (16.4%) versus the prior year and $10,428 versus the prior month.
For the 2024-03-01 period, Waterloo had 220 MLS listings, a difference of 9 listings (4%) versus the prior month and 58 listings (36%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Waterloo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 80 days | 1,570 sqft |
| 2018-02-01 | 79 days | 1,560 sqft |
| 2018-03-01 | 62 days | 1,565 sqft |
| 2018-04-01 | 51 days | 1,584 sqft |
| 2018-05-01 | 46 days | 1,593 sqft |
| 2018-06-01 | 49 days | 1,624 sqft |
| 2018-07-01 | 53 days | 1,600 sqft |
| 2018-08-01 | 52 days | 1,612 sqft |
| 2018-09-01 | 59 days | 1,607 sqft |
| 2018-10-01 | 65 days | 1,616 sqft |
| 2018-11-01 | 68 days | 1,617 sqft |
| 2018-12-01 | 78 days | 1,612 sqft |
| 2019-01-01 | 83 days | 1,624 sqft |
| 2019-02-01 | 87 days | 1,638 sqft |
| 2019-03-01 | 70 days | 1,659 sqft |
| 2019-04-01 | 50 days | 1,623 sqft |
| 2019-05-01 | 45 days | 1,547 sqft |
| 2019-06-01 | 51 days | 1,484 sqft |
| 2019-07-01 | 58 days | 1,477 sqft |
| 2019-08-01 | 58 days | 1,462 sqft |
| 2019-09-01 | 58 days | 1,450 sqft |
| 2019-10-01 | 59 days | 1,442 sqft |
| 2019-11-01 | 65 days | 1,430 sqft |
| 2019-12-01 | 73 days | 1,392 sqft |
| 2020-01-01 | 83 days | 1,429 sqft |
| 2020-02-01 | 86 days | 1,451 sqft |
| 2020-03-01 | 56 days | 1,441 sqft |
| 2020-04-01 | 54 days | 1,436 sqft |
| 2020-05-01 | 67 days | 1,497 sqft |
| 2020-06-01 | 67 days | 1,516 sqft |
| 2020-07-01 | 54 days | 1,477 sqft |
| 2020-08-01 | 58 days | 1,457 sqft |
| 2020-09-01 | 63 days | 1,441 sqft |
| 2020-10-01 | 52 days | 1,431 sqft |
| 2020-11-01 | 52 days | 1,400 sqft |
| 2020-12-01 | 56 days | 1,403 sqft |
| 2021-01-01 | 69 days | 1,395 sqft |
| 2021-02-01 | 86 days | 1,435 sqft |
| 2021-03-01 | 56 days | 1,430 sqft |
| 2021-04-01 | 52 days | 1,477 sqft |
| 2021-05-01 | 39 days | 1,503 sqft |
| 2021-06-01 | 32 days | 1,456 sqft |
| 2021-07-01 | 32 days | 1,432 sqft |
| 2021-08-01 | 38 days | 1,389 sqft |
| 2021-09-01 | 46 days | 1,428 sqft |
| 2021-10-01 | 54 days | 1,359 sqft |
| 2021-11-01 | 48 days | 1,335 sqft |
| 2021-12-01 | 51 days | 1,310 sqft |
| 2022-01-01 | 62 days | 1,334 sqft |
| 2022-02-01 | 62 days | 1,373 sqft |
| 2022-03-01 | 45 days | 1,449 sqft |
| 2022-04-01 | 31 days | 1,501 sqft |
| 2022-05-01 | 22 days | 1,456 sqft |
| 2022-06-01 | 24 days | 1,629 sqft |
| 2022-07-01 | 24 days | 1,618 sqft |
| 2022-08-01 | 37 days | 1,681 sqft |
| 2022-09-01 | 41 days | 1,743 sqft |
| 2022-10-01 | 43 days | 1,782 sqft |
| 2022-11-01 | 51 days | 1,701 sqft |
| 2022-12-01 | 60 days | 1,664 sqft |
| 2023-01-01 | 74 days | 1,587 sqft |
| 2023-02-01 | 57 days | 1,597 sqft |
| 2023-03-01 | 48 days | 1,569 sqft |
| 2023-04-01 | 46 days | 1,562 sqft |
| 2023-05-01 | 31 days | 1,556 sqft |
| 2023-06-01 | 35 days | 1,628 sqft |
| 2023-07-01 | 45 days | 1,660 sqft |
| 2023-08-01 | 34 days | 1,608 sqft |
| 2023-09-01 | 45 days | 1,569 sqft |
| 2023-10-01 | 41 days | 1,601 sqft |
| 2023-11-01 | 39 days | 1,599 sqft |
| 2023-12-01 | 54 days | 1,561 sqft |
| 2024-01-01 | 74 days | 1,584 sqft |
| 2024-02-01 | 68 days | 1,618 sqft |
| 2024-03-01 | 46 days | 1,583 sqft |
Waterloo's median square footage for active listings during the 2024-03-01 period was 1,583 sqft. One year prior, the average listing was 1,569 sqft.