Willmar VA Loan Rates, Closing Costs & Stats

Willmar, MN

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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.

    Willmar's 11 lenders originated 17 VA loans during 2023. The total origination value was $4,565,000, with an average VA loan value of $268,529.

    Willmar VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Willmar averaged 0.25% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Willmar's average VA mortgage closing costs are $4,944.

    The average rate for the prior week (2024-11-08) was 6.46% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.62%.

    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.

    Willmar 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 Willmar level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 4 6.81% $3,773
    UNITED WHOLESALE MORTGAGE, LLC 3 6.92% $4,824
    FREEDOM MORTGAGE CORPORATION 1 6.25% $7,137
    Heritage Bank 1 6.38% $5,009
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $10,880
    PENTAGON FEDERAL CREDIT UNION 1 6.38% $4,844
    Plains Commerce Bank 1 6.75% $5,437
    The Federal Savings Bank 1 7.25% $41,220
    First Western Bank & Trust 1 6.75% $565
    Wells Fargo Bank 1 5.25% $4,167
    Flagstar Bank, FSB 1 7.50% $4,218

    The top Willmar VA lender as defined by loan originations is Mortgage Research Center, LLC, with 4 VA loans originated. Their average total fees are $3,773, which is $1,051 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Willmar VA lenders (with over 10 loans originated) are .

    The lowest rate Willmar VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Willmar (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 $251,069 (18.8%) $324,892 (5.0%) 0.00 169
    2018-02-01 $254,500 (15.5%) $321,755 (5.0%) 0.00 174
    2018-03-01 $266,100 (16.5%) $326,029 (5.0%) 0.00 189
    2018-04-01 $269,675 (8.9%) $337,277 (4.0%) 0.00 197
    2018-05-01 $272,975 (13.1%) $336,707 (2.2%) 0.00 212
    2018-06-01 $249,000 (2.4%) $324,797 (-2.3%) 0.00 229
    2018-07-01 $239,450 (-4.2%) $308,774 (-8.6%) 0.00 232
    2018-08-01 $232,450 (-5.3%) $303,730 (-6.6%) 0.00 222
    2018-09-01 $244,944 (-0.4%) $313,083 (-2.1%) 0.00 221
    2018-10-01 $233,050 (-1.0%) $311,714 (-0.5%) 0.00 233
    2018-11-01 $222,125 (-10.0%) $311,562 (-2.5%) 0.00 222
    2018-12-01 $217,500 (-12.7%) $294,332 (-10.7%) 0.00 198
    2019-01-01 $199,447 (-20.6%) $287,931 (-11.4%) 0.00 171
    2019-02-01 $220,800 (-13.2%) $332,817 (3.4%) 0.00 158
    2019-03-01 $224,999 (-15.5%) $330,116 (1.3%) 0.00 176
    2019-04-01 $229,950 (-14.7%) $318,801 (-5.5%) 0.00 197
    2019-05-01 $242,394 (-11.2%) $321,319 (-4.6%) 0.00 225
    2019-06-01 $254,977 (2.4%) $339,357 (4.5%) 0.00 228
    2019-07-01 $275,000 (14.9%) $352,034 (14.0%) 0.00 234
    2019-08-01 $282,055 (21.3%) $357,383 (17.7%) 0.00 224
    2019-09-01 $272,461 (11.2%) $352,138 (12.5%) 0.00 224
    2019-10-01 $259,500 (11.4%) $344,206 (10.4%) 0.00 224
    2019-11-01 $259,500 (16.8%) $337,697 (8.4%) 0.00 209
    2019-12-01 $249,600 (14.8%) $329,754 (12.0%) 0.00 210
    2020-01-01 $256,050 (28.4%) $330,289 (14.7%) 0.00 198
    2020-02-01 $260,000 (17.8%) $328,618 (-1.3%) 0.00 190
    2020-03-01 $282,225 (25.4%) $341,089 (3.3%) 0.00 183
    2020-04-01 $278,597 (21.2%) $340,676 (6.9%) 0.00 180
    2020-05-01 $289,900 (19.6%) $360,025 (12.1%) 0.00 180
    2020-06-01 $282,450 (10.8%) $370,896 (9.3%) 0.00 178
    2020-07-01 $255,000 (-7.3%) $354,107 (0.6%) 0.00 186
    2020-08-01 $256,950 (-8.9%) $353,745 (-1.0%) 0.00 163
    2020-09-01 $257,425 (-5.5%) $347,001 (-1.5%) 0.00 149
    2020-10-01 $250,000 (-3.7%) $330,910 (-3.9%) 0.00 125
    2020-11-01 $244,950 (-5.6%) $335,422 (-0.7%) 0.00 108
    2020-12-01 $281,675 (12.9%) $370,154 (12.3%) 0.00 80
    2021-01-01 $270,000 (5.5%) $392,639 (18.9%) 0.00 66
    2021-02-01 $269,900 (3.8%) $401,632 (22.2%) 0.00 70
    2021-03-01 $303,444 (7.5%) $397,728 (16.6%) 0.00 68
    2021-04-01 $288,000 (3.4%) $448,335 (31.6%) 0.00 78
    2021-05-01 $232,500 (-19.8%) $380,520 (5.7%) 0.00 83
    2021-06-01 $234,999 (-16.8%) $389,882 (5.1%) 0.00 83
    2021-07-01 $231,900 (-9.1%) $358,108 (1.1%) 0.00 96
    2021-08-01 $250,000 (-2.7%) $365,109 (3.2%) 0.00 106
    2021-09-01 $228,175 (-11.4%) $359,051 (3.5%) 0.00 93
    2021-10-01 $215,000 (-14.0%) $336,595 (1.7%) 0.00 87
    2021-11-01 $187,450 (-23.5%) $298,167 (-11.1%) 0.00 81
    2021-12-01 $202,000 (-28.3%) $282,292 (-23.7%) 0.00 59
    2022-01-01 $215,000 (-20.4%) $301,287 (-23.3%) 0.00 40
    2022-02-01 $254,750 (-5.6%) $364,118 (-9.3%) 0.00 30
    2022-03-01 $254,000 (-16.3%) $401,602 (1.0%) 0.00 31
    2022-04-01 $257,000 (-10.8%) $382,414 (-14.7%) 0.00 35
    2022-05-01 $262,500 (12.9%) $401,114 (5.4%) 0.00 48
    2022-06-01 $267,475 (13.8%) $383,012 (-1.8%) 0.00 64
    2022-07-01 $272,500 (17.5%) $370,411 (3.4%) 0.00 70
    2022-08-01 $316,250 (26.5%) $425,735 (16.6%) 0.00 63
    2022-09-01 $297,250 (30.3%) $457,582 (27.4%) 0.00 54
    2022-10-01 $345,000 (60.5%) $493,186 (46.5%) 0.00 62
    2022-11-01 $353,450 (88.6%) $479,809 (60.9%) 0.00 56
    2022-12-01 $340,000 (68.3%) $468,489 (66.0%) 0.00 50
    2023-01-01 $340,000 (58.1%) $461,695 (53.2%) 0.00 40
    2023-02-01 $358,944 (40.9%) $458,843 (26.0%) 0.00 35
    2023-03-01 $349,250 (37.5%) $447,673 (11.5%) 0.00 38
    2023-04-01 $334,000 (30.0%) $465,589 (21.8%) 0.00 32
    2023-05-01 $318,850 (21.5%) $436,904 (8.9%) 0.00 38
    2023-06-01 $357,475 (33.7%) $466,612 (21.8%) 0.00 59
    2023-07-01 $350,000 (28.4%) $428,475 (15.7%) 0.00 71
    2023-08-01 $365,950 (15.7%) $452,069 (6.2%) 0.00 79
    2023-09-01 $345,000 (16.1%) $400,103 (-12.6%) 0.00 81
    2023-10-01 $344,500 (-0.1%) $397,590 (-19.4%) 0.00 78
    2023-11-01 $335,000 (-5.2%) $386,410 (-19.5%) 0.00 78
    2023-12-01 $342,500 (0.7%) $380,197 (-18.9%) 0.00 66
    2024-01-01 $374,950 (10.3%) $466,320 (1.0%) 0.00 51
    2024-02-01 $385,425 (7.4%) $506,370 (10.4%) 0.00 51
    2024-03-01 $374,500 (7.2%) $500,948 (11.9%) 0.00 47
    2024-04-01 $384,450 (15.1%) $508,764 (9.3%) 0.00 52
    2024-05-01 $384,900 (20.7%) $538,357 (23.2%) 0.00 65
    2024-06-01 $384,900 (7.7%) $485,735 (4.1%) 0.00 68
    2024-07-01 $386,950 (10.6%) $493,951 (15.3%) 0.00 70
    2024-08-01 $395,000 (7.9%) $501,926 (11.0%) 0.00 77
    2024-09-01 $387,425 (12.3%) $471,427 (17.8%) 0.00 82
    2024-10-01 $384,925 (11.7%) $488,788 (22.9%) 0.00 104
    Willmar's median listing price for 2024-10-01 was $384,925, a difference of $40,425 (11.7%) versus the prior year and $-2,500 versus the prior month.

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

    Willmar's average listing price for 2024-10-01 was $488,788, a difference of $91,198 (22.9%) versus the prior year and $17,361 versus the prior month.

    For the 2024-10-01 period, Willmar had 104 MLS listings, a difference of 22 listings (27%) versus the prior month and 26 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Willmar (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,428 sqft
    2018-02-01 0 days 2,435 sqft
    2018-03-01 0 days 2,432 sqft
    2018-04-01 0 days 2,434 sqft
    2018-05-01 0 days 2,398 sqft
    2018-06-01 0 days 2,344 sqft
    2018-07-01 0 days 2,346 sqft
    2018-08-01 0 days 2,323 sqft
    2018-09-01 0 days 2,348 sqft
    2018-10-01 0 days 2,343 sqft
    2018-11-01 0 days 2,269 sqft
    2018-12-01 0 days 2,190 sqft
    2019-01-01 0 days 2,189 sqft
    2019-02-01 0 days 2,355 sqft
    2019-03-01 0 days 2,181 sqft
    2019-04-01 0 days 2,087 sqft
    2019-05-01 0 days 2,118 sqft
    2019-06-01 0 days 2,210 sqft
    2019-07-01 0 days 2,264 sqft
    2019-08-01 0 days 2,214 sqft
    2019-09-01 0 days 2,131 sqft
    2019-10-01 0 days 2,070 sqft
    2019-11-01 0 days 2,072 sqft
    2019-12-01 0 days 2,108 sqft
    2020-01-01 0 days 2,084 sqft
    2020-02-01 0 days 2,084 sqft
    2020-03-01 0 days 2,071 sqft
    2020-04-01 0 days 1,953 sqft
    2020-05-01 0 days 2,120 sqft
    2020-06-01 0 days 2,189 sqft
    2020-07-01 0 days 2,193 sqft
    2020-08-01 0 days 2,158 sqft
    2020-09-01 0 days 2,217 sqft
    2020-10-01 0 days 2,229 sqft
    2020-11-01 0 days 2,214 sqft
    2020-12-01 0 days 2,361 sqft
    2021-01-01 0 days 2,387 sqft
    2021-02-01 0 days 2,520 sqft
    2021-03-01 0 days 2,577 sqft
    2021-04-01 0 days 2,341 sqft
    2021-05-01 0 days 2,075 sqft
    2021-06-01 0 days 2,020 sqft
    2021-07-01 0 days 2,028 sqft
    2021-08-01 0 days 2,026 sqft
    2021-09-01 0 days 1,972 sqft
    2021-10-01 0 days 1,976 sqft
    2021-11-01 0 days 1,948 sqft
    2021-12-01 0 days 1,818 sqft
    2022-01-01 0 days 1,976 sqft
    2022-02-01 0 days 2,103 sqft
    2022-03-01 0 days 2,033 sqft
    2022-04-01 0 days 2,160 sqft
    2022-05-01 0 days 1,976 sqft
    2022-06-01 0 days 2,153 sqft
    2022-07-01 0 days 2,069 sqft
    2022-08-01 0 days 2,239 sqft
    2022-09-01 0 days 2,228 sqft
    2022-10-01 0 days 2,241 sqft
    2022-11-01 0 days 2,199 sqft
    2022-12-01 0 days 1,996 sqft
    2023-01-01 0 days 1,978 sqft
    2023-02-01 0 days 2,013 sqft
    2023-03-01 0 days 2,195 sqft
    2023-04-01 0 days 2,025 sqft
    2023-05-01 0 days 2,032 sqft
    2023-06-01 0 days 2,299 sqft
    2023-07-01 0 days 2,057 sqft
    2023-08-01 0 days 2,083 sqft
    2023-09-01 0 days 2,054 sqft
    2023-10-01 0 days 2,084 sqft
    2023-11-01 0 days 2,022 sqft
    2023-12-01 0 days 1,989 sqft
    2024-01-01 0 days 2,028 sqft
    2024-02-01 0 days 2,002 sqft
    2024-03-01 0 days 2,002 sqft
    2024-04-01 0 days 2,002 sqft
    2024-05-01 0 days 2,080 sqft
    2024-06-01 0 days 2,054 sqft
    2024-07-01 0 days 2,171 sqft
    2024-08-01 0 days 2,178 sqft
    2024-09-01 0 days 2,138 sqft
    2024-10-01 0 days 2,083 sqft
    Willmar's median listing age (time on market) for 2024-10-01 was 0 days.

    Willmar's median square footage for active listings during the 2024-10-01 period was 2,083 sqft. One year prior, the average listing was 2,084 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.