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 23 lenders originated 107 VA loans during 2024. The total origination value was $27,095,000, with an average VA loan value of $253,224.

    Waterloo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Waterloo averaged 6.38% for the week of 2025-07-11, compared to the national average (all VA variants) of 6.37% for the same period.

    Waterloo's average VA mortgage closing costs are $4,750.

    The average rate for the prior week (2025-07-04) was 6.69% and one month ago for the week of 2025-06-06, the average rate was 6.76%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.18%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 27 6.64% $3,973
    VERIDIAN CREDIT UNION 20 5.64% $4,568
    GREENSTATE CREDIT UNION 17 5.85% $3,517
    QUICKEN LOANS, LLC 7 5.84% $7,054
    UNITED WHOLESALE MORTGAGE, LLC 4 5.92% $7,049
    NEW DAY FINANCIAL, LLC 4 7.37% $9,250
    USAA Federal Savings Bank 3 6.13% $2,697
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.12% $5,381
    Lincoln Savings Bank 2 6.50% $4,845
    NAVY FEDERAL CREDIT UNION 2 6.44% $3,857
    NEWREZ LLC 2 6.44% $6,909
    PENNYMAC LOAN SERVICES, LLC 2 5.37% $7,167
    Paramount Residential Mortgage Group, Inc. 1 5.75% $14,655
    VILLAGE CAPITAL MORTGAGE 1 6.38% $1,563
    PENTAGON FEDERAL CREDIT UNION 1 6.25% $4,975
    PLANET HOME LENDING, LLC 1 5.50% $5,389
    PREMIA MORTGAGE, LLC 1 6.20% $4,118
    MOVEMENT MORTGAGE, LLC 1 6.25% $1,320
    The Federal Savings Bank 1 5.75% $13,999
    IOWA BANKERS MORTGAGE CORPORATION 1 6.38% $6,608
    FREEDOM MORTGAGE CORPORATION 1 6.75% $21,393
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $7,808
    Barrington Bank & Trust Company, N.A. 1 7.25% $3,486

    The top Waterloo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 27 VA loans originated. Their average total fees are $3,973, which is $595 lower than the next largest lender, VERIDIAN CREDIT UNION.

    The lowest fee Waterloo VA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION ($3,517), Mortgage Research Center, LLC ($3,973), VERIDIAN CREDIT UNION ($4,568), .

    The lowest rate Waterloo VA lenders (with over 10 loans originated) are VERIDIAN CREDIT UNION (5.64%), GREENSTATE CREDIT UNION (5.85%), Mortgage Research Center, LLC (6.64%), .

    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 $148,100 (8.4%) $193,314 (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 $162,400 (15.2%) $212,437 (17.7%) 0.51 529
    2019-06-01 $170,700 (17.7%) $216,139 (17.5%) 0.53 578
    2019-07-01 $170,700 (16.3%) $214,078 (16.7%) 0.53 561
    2019-08-01 $167,823 (15.8%) $209,815 (14.1%) 0.53 580
    2019-09-01 $166,207 (16.2%) $210,389 (13.5%) 0.53 605
    2019-10-01 $165,130 (14.1%) $210,260 (14.2%) 0.53 625
    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 $164,450 (14.4%) $202,309 (7.7%) 0.55 524
    2020-02-01 $164,950 (11.4%) $207,918 (7.6%) 0.54 475
    2020-03-01 $158,750 (3.0%) $204,705 (0.1%) 0.50 486
    2020-04-01 $159,950 (0.5%) $206,747 (-1.4%) 0.50 489
    2020-05-01 $170,000 (4.7%) $216,785 (2.1%) 0.52 455
    2020-06-01 $175,875 (3.0%) $225,393 (4.3%) 0.52 459
    2020-07-01 $179,725 (5.3%) $231,576 (8.2%) 0.52 445
    2020-08-01 $177,500 (5.8%) $230,356 (9.8%) 0.51 437
    2020-09-01 $171,500 (3.2%) $223,629 (6.3%) 0.49 416
    2020-10-01 $164,900 (-0.1%) $217,744 (3.6%) 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 (-2.2%) $226,888 (9.1%) 0.47 253
    2021-03-01 $158,725 (0.0%) $224,142 (9.5%) 0.45 219
    2021-04-01 $169,900 (6.2%) $236,546 (14.4%) 0.46 196
    2021-05-01 $168,950 (-0.6%) $225,015 (3.8%) 0.45 188
    2021-06-01 $161,500 (-8.2%) $217,287 (-3.6%) 0.43 218
    2021-07-01 $164,900 (-8.3%) $216,372 (-6.6%) 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%) $283,676 (6.8%) 0.63 254
    2024-01-01 $267,425 (22.4%) $298,521 (13.5%) 0.65 226
    2024-02-01 $273,900 (6.5%) $310,535 (11.2%) 0.66 211
    2024-03-01 $281,000 (6.9%) $321,634 (16.6%) 0.66 221
    2024-04-01 $281,375 (8.9%) $321,304 (19.6%) 0.65 221
    2024-05-01 $292,313 (8.8%) $332,996 (18.1%) 0.67 219
    2024-06-01 $281,250 (10.3%) $315,857 (12.4%) 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
    2024-11-01 $254,900 (-3.6%) $295,899 (3.3%) 0.61 381
    2024-12-01 $254,725 (-2.0%) $294,724 (3.9%) 0.63 359
    2025-01-01 $249,925 (-6.5%) $292,918 (-1.9%) 0.62 312
    2025-02-01 $258,200 (-5.7%) $298,456 (-3.9%) 0.63 307
    2025-03-01 $269,900 (-4.0%) $308,534 (-4.1%) 0.64 269
    2025-04-01 $281,092 (-0.1%) $308,563 (-4.0%) 0.65 302
    2025-05-01 $284,950 (-2.5%) $324,317 (-2.6%) 0.65 321
    2025-06-01 $281,450 (0.1%) $318,357 (0.8%) 0.64 349
    Waterloo's median listing price for 2025-06-01 was $281,450, a difference of $200 (0.1%) versus the prior year and $-3,500 versus the prior month.

    Waterloo's median listing price comes in at 64% of the national average.

    Waterloo's average listing price for 2025-06-01 was $318,357, a difference of $2,500 (0.8%) versus the prior year and $-5,960 versus the prior month.

    For the 2025-06-01 period, Waterloo had 349 MLS listings, a difference of 28 listings (9%) versus the prior month and 84 listings (32%) 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 1,486 sqft
    2019-07-01 58 days 1,479 sqft
    2019-08-01 58 days 1,467 sqft
    2019-09-01 59 days 1,453 sqft
    2019-10-01 60 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 1,428 sqft
    2020-02-01 86 days 1,451 sqft
    2020-03-01 56 days 1,439 sqft
    2020-04-01 54 days 1,437 sqft
    2020-05-01 67 days 1,500 sqft
    2020-06-01 67 days 1,519 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 1,581 sqft
    2024-02-01 68 days 1,618 sqft
    2024-03-01 46 days 1,584 sqft
    2024-04-01 45 days 1,645 sqft
    2024-05-01 52 days 1,756 sqft
    2024-06-01 46 days 1,744 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
    2024-11-01 58 days 1,667 sqft
    2024-12-01 66 days 1,679 sqft
    2025-01-01 79 days 1,657 sqft
    2025-02-01 74 days 1,662 sqft
    2025-03-01 57 days 1,698 sqft
    2025-04-01 46 days 1,700 sqft
    2025-05-01 45 days 1,716 sqft
    2025-06-01 51 days 1,721 sqft
    Waterloo's median listing age (time on market) for 2025-06-01 was 51 days. This is 10% longer than the same period one year ago.

    Waterloo's median square footage for active listings during the 2025-06-01 period was 1,721 sqft. One year prior, the average listing was 1,744 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.