Winona VA Loan Rates, Closing Costs & Stats

Winona, 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.

    Winona's 7 lenders originated 18 VA loans during 2023. The total origination value was $5,230,000, with an average VA loan value of $290,556.

    Winona VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Winona averaged 6.95% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Winona's average VA mortgage closing costs are $4,370.

    The average rate for the prior week (2024-04-12) was 6.58% and one month ago for the week of 2024-03-15, the average rate was 6.74%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

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

    Winona 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 Winona level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 7 7.02% $4,117
    Merchants Bank 2 6.50% $7,704
    NAVY FEDERAL CREDIT UNION 2 6.31% $1,280
    UNITED WHOLESALE MORTGAGE, LLC 2 6.69% $2,436
    Bell Bank 1 5.75% $4,923
    ALTRA 1 7.50% $1,777
    QUICKEN LOANS, LLC 1 6.99% $17,370

    The top Winona VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $4,117, which is $3,587 lower than the next largest lender, Merchants Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Winona (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 $149,450 (7.5%) $199,737 (4.4%) 0.00 103
    2018-02-01 $149,900 (6.2%) $199,911 (4.4%) 0.00 93
    2018-03-01 $164,900 (12.0%) $209,429 (4.9%) 0.00 93
    2018-04-01 $173,675 (16.6%) $229,213 (12.3%) 0.00 112
    2018-05-01 $181,050 (19.3%) $238,157 (18.9%) 0.00 121
    2018-06-01 $179,900 (14.6%) $247,487 (22.2%) 0.00 131
    2018-07-01 $179,900 (3.0%) $245,641 (18.1%) 0.00 157
    2018-08-01 $182,175 (9.7%) $242,664 (15.9%) 0.00 179
    2018-09-01 $179,900 (14.6%) $240,055 (15.5%) 0.00 189
    2018-10-01 $176,950 (14.7%) $233,798 (14.4%) 0.00 191
    2018-11-01 $174,925 (16.7%) $234,587 (18.4%) 0.00 171
    2018-12-01 $174,900 (20.6%) $242,076 (22.6%) 0.00 136
    2019-01-01 $162,400 (8.7%) $237,080 (18.7%) 0.00 103
    2019-02-01 $159,950 (6.7%) $244,534 (22.3%) 0.00 85
    2019-03-01 $189,950 (15.2%) $265,445 (26.8%) 0.00 96
    2019-04-01 $222,475 (28.1%) $280,239 (22.3%) 0.00 112
    2019-05-01 $225,000 (24.3%) $280,237 (17.7%) 0.00 130
    2019-06-01 $225,950 (25.6%) $283,379 (14.5%) 0.00 138
    2019-07-01 $198,100 (10.1%) $265,745 (8.2%) 0.00 138
    2019-08-01 $199,391 (9.5%) $255,030 (5.1%) 0.00 146
    2019-09-01 $199,677 (11.0%) $245,703 (2.4%) 0.00 153
    2019-10-01 $199,868 (13.0%) $240,597 (2.9%) 0.00 153
    2019-11-01 $187,450 (7.2%) $252,789 (7.8%) 0.00 131
    2019-12-01 $193,725 (10.8%) $227,737 (-5.9%) 0.00 116
    2020-01-01 $210,000 (29.3%) $238,909 (0.8%) 0.00 97
    2020-02-01 $194,900 (21.9%) $227,546 (-7.0%) 0.00 89
    2020-03-01 $193,450 (1.8%) $239,296 (-9.9%) 0.00 83
    2020-04-01 $204,900 (-7.9%) $233,722 (-16.6%) 0.00 92
    2020-05-01 $209,900 (-6.7%) $243,624 (-13.1%) 0.00 100
    2020-06-01 $243,700 (7.9%) $276,304 (-2.5%) 0.00 100
    2020-07-01 $222,500 (12.3%) $272,133 (2.4%) 0.00 96
    2020-08-01 $234,500 (17.6%) $298,605 (17.1%) 0.00 87
    2020-09-01 $249,900 (25.2%) $313,507 (27.6%) 0.00 89
    2020-10-01 $224,900 (12.5%) $290,400 (20.7%) 0.00 89
    2020-11-01 $222,475 (18.7%) $290,857 (15.1%) 0.00 71
    2020-12-01 $194,925 (0.6%) $273,410 (20.1%) 0.00 59
    2021-01-01 $215,000 (2.4%) $267,768 (12.1%) 0.00 43
    2021-02-01 $207,500 (6.5%) $253,725 (11.5%) 0.00 38
    2021-03-01 $217,475 (12.4%) $267,061 (11.6%) 0.00 34
    2021-04-01 $176,950 (-13.6%) $234,916 (0.5%) 0.00 41
    2021-05-01 $199,950 (-4.7%) $274,884 (12.8%) 0.00 43
    2021-06-01 $211,950 (-13.0%) $279,004 (1.0%) 0.00 53
    2021-07-01 $219,450 (-1.4%) $281,876 (3.6%) 0.00 76
    2021-08-01 $199,900 (-14.8%) $266,852 (-10.6%) 0.00 87
    2021-09-01 $199,675 (-20.1%) $263,892 (-15.8%) 0.00 78
    2021-10-01 $219,900 (-2.2%) $277,526 (-4.4%) 0.00 70
    2021-11-01 $224,500 (0.9%) $287,378 (-1.2%) 0.00 52
    2021-12-01 $199,950 (2.6%) $272,381 (-0.4%) 0.00 49
    2022-01-01 $184,900 (-14.0%) $254,404 (-5.0%) 0.00 41
    2022-02-01 $202,475 (-2.4%) $328,024 (29.3%) 0.00 36
    2022-03-01 $243,900 (12.2%) $340,131 (27.4%) 0.00 28
    2022-04-01 $211,950 (19.8%) $327,508 (39.4%) 0.00 32
    2022-05-01 $221,150 (10.6%) $325,274 (18.3%) 0.00 44
    2022-06-01 $244,500 (15.4%) $326,195 (16.9%) 0.00 56
    2022-07-01 $244,000 (11.2%) $317,716 (12.7%) 0.00 62
    2022-08-01 $253,500 (26.8%) $323,608 (21.3%) 0.00 60
    2022-09-01 $244,350 (22.4%) $305,048 (15.6%) 0.00 62
    2022-10-01 $249,000 (13.2%) $332,439 (19.8%) 0.00 61
    2022-11-01 $251,100 (11.9%) $336,519 (17.1%) 0.00 55
    2022-12-01 $237,000 (18.5%) $337,402 (23.9%) 0.00 50
    2023-01-01 $287,950 (55.7%) $374,634 (47.3%) 0.00 42
    2023-02-01 $271,150 (33.9%) $300,567 (-8.4%) 0.00 39
    2023-03-01 $257,450 (5.6%) $296,310 (-12.9%) 0.00 36
    2023-04-01 $291,000 (37.3%) $402,003 (22.8%) 0.00 38
    2023-05-01 $298,475 (35.0%) $412,076 (26.7%) 0.00 46
    2023-06-01 $297,650 (21.7%) $418,783 (28.4%) 0.00 56
    2023-07-01 $317,450 (30.1%) $426,426 (34.2%) 0.00 52
    2023-08-01 $302,425 (19.3%) $421,741 (30.3%) 0.00 60
    2023-09-01 $302,450 (23.8%) $424,983 (39.3%) 0.00 58
    2023-10-01 $291,000 (16.9%) $400,186 (20.4%) 0.00 61
    2023-11-01 $357,000 (42.2%) $448,601 (33.3%) 0.00 56
    2023-12-01 $327,500 (38.2%) $435,432 (29.1%) 0.00 49
    2024-01-01 $355,000 (23.3%) $439,081 (17.2%) 0.00 39
    2024-02-01 $452,400 (66.8%) $500,278 (66.4%) 0.00 36
    2024-03-01 $445,000 (72.9%) $485,115 (63.7%) 0.00 36
    Winona's median listing price for 2024-03-01 was $445,000, a difference of $187,550 (72.9%) versus the prior year and $-7,400 versus the prior month.

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

    Winona's average listing price for 2024-03-01 was $485,115, a difference of $188,805 (63.7%) versus the prior year and $-15,163 versus the prior month.

    For the 2024-03-01 period, Winona had 36 MLS listings, a difference of 0 listings (0%) versus the prior month and 0 listings (0%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Winona (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,245 sqft
    2018-02-01 0 days 2,258 sqft
    2018-03-01 0 days 2,435 sqft
    2018-04-01 0 days 2,500 sqft
    2018-05-01 0 days 2,513 sqft
    2018-06-01 0 days 2,538 sqft
    2018-07-01 0 days 2,528 sqft
    2018-08-01 0 days 2,463 sqft
    2018-09-01 0 days 2,454 sqft
    2018-10-01 0 days 2,424 sqft
    2018-11-01 0 days 2,445 sqft
    2018-12-01 0 days 2,454 sqft
    2019-01-01 0 days 1,972 sqft
    2019-02-01 0 days 1,929 sqft
    2019-03-01 0 days 2,103 sqft
    2019-04-01 0 days 2,215 sqft
    2019-05-01 0 days 2,130 sqft
    2019-06-01 0 days 2,124 sqft
    2019-07-01 0 days 1,995 sqft
    2019-08-01 0 days 1,991 sqft
    2019-09-01 0 days 1,927 sqft
    2019-10-01 0 days 1,877 sqft
    2019-11-01 0 days 1,863 sqft
    2019-12-01 0 days 1,852 sqft
    2020-01-01 0 days 1,854 sqft
    2020-02-01 0 days 1,770 sqft
    2020-03-01 0 days 1,890 sqft
    2020-04-01 0 days 1,881 sqft
    2020-05-01 0 days 1,896 sqft
    2020-06-01 0 days 2,281 sqft
    2020-07-01 0 days 2,007 sqft
    2020-08-01 0 days 2,160 sqft
    2020-09-01 0 days 2,410 sqft
    2020-10-01 0 days 2,221 sqft
    2020-11-01 0 days 2,199 sqft
    2020-12-01 0 days 1,945 sqft
    2021-01-01 0 days 1,945 sqft
    2021-02-01 0 days 1,939 sqft
    2021-03-01 0 days 1,931 sqft
    2021-04-01 0 days 1,668 sqft
    2021-05-01 0 days 1,919 sqft
    2021-06-01 0 days 1,930 sqft
    2021-07-01 0 days 1,906 sqft
    2021-08-01 0 days 1,720 sqft
    2021-09-01 0 days 1,753 sqft
    2021-10-01 0 days 1,749 sqft
    2021-11-01 0 days 1,792 sqft
    2021-12-01 0 days 1,844 sqft
    2022-01-01 0 days 1,694 sqft
    2022-02-01 0 days 2,367 sqft
    2022-03-01 0 days 2,328 sqft
    2022-04-01 0 days 2,254 sqft
    2022-05-01 0 days 1,705 sqft
    2022-06-01 0 days 1,794 sqft
    2022-07-01 0 days 1,998 sqft
    2022-08-01 0 days 1,899 sqft
    2022-09-01 0 days 1,911 sqft
    2022-10-01 0 days 2,119 sqft
    2022-11-01 0 days 2,037 sqft
    2022-12-01 0 days 2,003 sqft
    2023-01-01 0 days 2,022 sqft
    2023-02-01 0 days 1,737 sqft
    2023-03-01 0 days 1,824 sqft
    2023-04-01 0 days 2,122 sqft
    2023-05-01 0 days 2,077 sqft
    2023-06-01 0 days 2,052 sqft
    2023-07-01 0 days 2,163 sqft
    2023-08-01 0 days 1,985 sqft
    2023-09-01 0 days 2,041 sqft
    2023-10-01 0 days 2,054 sqft
    2023-11-01 0 days 2,165 sqft
    2023-12-01 0 days 2,127 sqft
    2024-01-01 0 days 2,143 sqft
    2024-02-01 0 days 2,323 sqft
    2024-03-01 0 days 2,540 sqft
    Winona's median listing age (time on market) for 2024-03-01 was 0 days.

    Winona's median square footage for active listings during the 2024-03-01 period was 2,540 sqft. One year prior, the average listing was 1,824 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.