Waterloo VA Loan Rates, Closing Costs & Stats

WATERLOO-CEDAR FALLS, IA

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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.

    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 6.3% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Waterloo's average VA mortgage closing costs are $4,713.

    The average rate for the prior week (2024-11-01) was 6.26% and one month ago for the week of 2024-10-04, the average rate was 5.48%.

    The average rate one year ago was 7.54%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    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
    2024-04-01 $281,250 (8.8%) $320,422 (19.2%) 0.65 219
    2024-05-01 $299,588 (11.5%) $342,406 (21.4%) 0.68 217
    2024-06-01 $283,000 (11.0%) $322,899 (14.9%) 0.64 265
    2024-07-01 $278,500 (7.2%) $309,025 (6.2%) 0.64 300
    2024-08-01 $269,900 (24.8%) $305,058 (10.9%) 0.63 346
    2024-09-01 $264,475 (17.6%) $304,442 (10.9%) 0.62 370
    2024-10-01 $256,450 (2.6%) $301,038 (8.1%) 0.60 387
    Waterloo's median listing price for 2024-10-01 was $256,450, a difference of $6,500 (2.6%) versus the prior year and $-8,025 versus the prior month.

    Waterloo's median listing price comes in at 60% of the national average.

    Waterloo's average listing price for 2024-10-01 was $301,038, a difference of $22,427 (8.1%) versus the prior year and $-3,404 versus the prior month.

    For the 2024-10-01 period, Waterloo had 387 MLS listings, a difference of 17 listings (5%) versus the prior month and 141 listings (57%) 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
    2024-04-01 45 days 1,643 sqft
    2024-05-01 52 days 1,772 sqft
    2024-06-01 45 days 1,763 sqft
    2024-07-01 44 days 1,752 sqft
    2024-08-01 45 days 1,723 sqft
    2024-09-01 52 days 1,686 sqft
    2024-10-01 58 days 1,658 sqft
    Waterloo's median listing age (time on market) for 2024-10-01 was 58 days. This is 41% longer than the same period one year ago.

    Waterloo's median square footage for active listings during the 2024-10-01 period was 1,658 sqft. One year prior, the average listing was 1,601 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.