Worthington VA Loan Rates, Closing Costs & Stats

Worthington, 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.

    Worthington's 2 lenders originated 2 VA loans during 2023. The total origination value was $410,000, with an average VA loan value of $205,000.

    Worthington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Worthington averaged 6.88% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Worthington's average VA mortgage closing costs are $4,333.

    The average rate for the prior week (2024-04-12) was 6.81% and one month ago for the week of 2024-03-15, the average rate was 6.87%.

    The average rate one year ago was 6.16%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Worthington 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 Worthington level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 1 7.63% $4,636
    NAVY FEDERAL CREDIT UNION 1 6.63% $10,506

    The top Worthington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 1 VA loans originated. Their average total fees are $4,636, which is $5,870 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Worthington (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 $169,600 (41.5%) $163,064 (15.7%) 0.00 36
    2018-02-01 $156,575 (39.3%) $164,175 (27.1%) 0.00 38
    2018-03-01 $160,950 (34.2%) $167,361 (17.9%) 0.00 40
    2018-04-01 $167,750 (19.9%) $167,629 (-1.3%) 0.00 44
    2018-05-01 $176,850 (13.1%) $171,155 (-11.9%) 0.00 49
    2018-06-01 $175,000 (27.0%) $171,082 (-13.3%) 0.00 50
    2018-07-01 $167,500 (25.1%) $172,571 (-12.0%) 0.00 62
    2018-08-01 $179,900 (31.4%) $179,422 (4.9%) 0.00 65
    2018-09-01 $169,000 (33.1%) $174,984 (7.3%) 0.00 62
    2018-10-01 $159,600 (22.9%) $163,450 (0.9%) 0.00 63
    2018-11-01 $159,900 (21.8%) $172,535 (9.4%) 0.00 59
    2018-12-01 $162,400 (1.6%) $179,222 (10.2%) 0.00 58
    2019-01-01 $167,450 (-1.3%) $181,647 (11.4%) 0.00 50
    2019-02-01 $176,225 (12.6%) $183,358 (11.7%) 0.00 47
    2019-03-01 $182,400 (13.3%) $189,176 (13.0%) 0.00 48
    2019-04-01 $184,275 (9.9%) $196,049 (17.0%) 0.00 54
    2019-05-01 $173,050 (-2.2%) $185,142 (8.2%) 0.00 70
    2019-06-01 $177,450 (1.4%) $183,669 (7.4%) 0.00 75
    2019-07-01 $169,900 (1.4%) $176,433 (2.2%) 0.00 74
    2019-08-01 $173,082 (-3.8%) $176,309 (-1.7%) 0.00 75
    2019-09-01 $174,105 (3.0%) $175,039 (0.0%) 0.00 70
    2019-10-01 $174,900 (9.6%) $174,782 (6.9%) 0.00 64
    2019-11-01 $169,900 (6.3%) $167,930 (-2.7%) 0.00 53
    2019-12-01 $167,175 (2.9%) $169,638 (-5.4%) 0.00 53
    2020-01-01 $177,200 (5.8%) $176,385 (-2.9%) 0.00 48
    2020-02-01 $177,450 (0.7%) $176,065 (-4.0%) 0.00 42
    2020-03-01 $186,200 (2.1%) $181,885 (-3.9%) 0.00 45
    2020-04-01 $185,700 (0.8%) $185,132 (-5.6%) 0.00 44
    2020-05-01 $179,500 (3.7%) $183,000 (-1.2%) 0.00 39
    2020-06-01 $186,825 (5.3%) $183,191 (-0.3%) 0.00 40
    2020-07-01 $180,450 (6.2%) $183,862 (4.2%) 0.00 41
    2020-08-01 $183,700 (6.1%) $194,606 (10.4%) 0.00 41
    2020-09-01 $224,950 (29.2%) $228,860 (30.8%) 0.00 38
    2020-10-01 $189,900 (8.6%) $234,189 (34.0%) 0.00 39
    2020-11-01 $174,250 (2.6%) $233,421 (39.0%) 0.00 37
    2020-12-01 $174,850 (4.6%) $237,565 (40.0%) 0.00 33
    2021-01-01 $175,000 (-1.2%) $237,303 (34.5%) 0.00 37
    2021-02-01 $177,300 (-0.1%) $243,265 (38.2%) 0.00 32
    2021-03-01 $210,325 (13.0%) $251,509 (38.3%) 0.00 23
    2021-04-01 $167,450 (-9.8%) $217,154 (17.3%) 0.00 21
    2021-05-01 $222,250 (23.8%) $233,010 (27.3%) 0.00 26
    2021-06-01 $202,500 (8.4%) $226,969 (23.9%) 0.00 21
    2021-07-01 $175,000 (-3.0%) $225,041 (22.4%) 0.00 16
    2021-08-01 $188,250 (2.5%) $233,086 (19.8%) 0.00 21
    2021-09-01 $249,575 (11.0%) $252,377 (10.3%) 0.00 25
    2021-10-01 $199,900 (5.3%) $242,744 (3.7%) 0.00 28
    2021-11-01 $188,075 (7.9%) $216,630 (-7.2%) 0.00 20
    2021-12-01 $194,900 (11.5%) $194,032 (-18.3%) 0.00 16
    2022-01-01 $229,500 (31.1%) $209,667 (-11.7%) 0.00 14
    2022-02-01 $186,000 (4.9%) $209,856 (-13.7%) 0.00 14
    2022-03-01 $174,900 (-16.8%) $200,106 (-20.4%) 0.00 17
    2022-04-01 $184,000 (9.9%) $231,543 (6.6%) 0.00 19
    2022-05-01 $204,700 (-7.9%) $234,439 (0.6%) 0.00 25
    2022-06-01 $234,800 (16.0%) $252,759 (11.4%) 0.00 27
    2022-07-01 $199,900 (14.2%) $240,500 (6.9%) 0.00 36
    2022-08-01 $226,250 (20.2%) $244,314 (4.8%) 0.00 38
    2022-09-01 $264,575 (6.0%) $252,406 (0.0%) 0.00 33
    2022-10-01 $252,250 (26.2%) $252,103 (3.9%) 0.00 30
    2022-11-01 $245,875 (30.7%) $245,344 (13.3%) 0.00 30
    2022-12-01 $238,500 (22.4%) $238,000 (22.7%) 0.00 27
    2023-01-01 $241,075 (5.0%) $232,353 (10.8%) 0.00 25
    2023-02-01 $187,225 (0.7%) $216,233 (3.0%) 0.00 24
    2023-03-01 $209,750 (19.9%) $225,450 (12.7%) 0.00 22
    2023-04-01 $245,000 (33.2%) $251,765 (8.7%) 0.00 24
    2023-05-01 $284,125 (38.8%) $273,618 (16.7%) 0.00 26
    2023-06-01 $282,475 (20.3%) $289,731 (14.6%) 0.00 26
    2023-07-01 $271,950 (36.0%) $294,828 (22.6%) 0.00 30
    2023-08-01 $295,000 (30.4%) $303,565 (24.3%) 0.00 33
    2023-09-01 $295,000 (11.5%) $300,311 (19.0%) 0.00 32
    2023-10-01 $295,000 (17.0%) $290,197 (15.1%) 0.00 33
    2023-11-01 $298,575 (21.4%) $287,937 (17.4%) 0.00 29
    2023-12-01 $297,000 (24.5%) $280,850 (18.0%) 0.00 32
    2024-01-01 $287,250 (19.2%) $275,878 (18.7%) 0.00 37
    2024-02-01 $249,900 (33.5%) $271,916 (25.8%) 0.00 36
    2024-03-01 $295,000 (40.6%) $294,647 (30.7%) 0.00 30
    Worthington's median listing price for 2024-03-01 was $295,000, a difference of $85,250 (40.6%) versus the prior year and $45,100 versus the prior month.

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

    Worthington's average listing price for 2024-03-01 was $294,647, a difference of $69,197 (30.7%) versus the prior year and $22,731 versus the prior month.

    For the 2024-03-01 period, Worthington had 30 MLS listings, a difference of -6 listings (-17%) versus the prior month and 8 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Worthington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,304 sqft
    2018-02-01 0 days 2,412 sqft
    2018-03-01 0 days 2,384 sqft
    2018-04-01 0 days 2,326 sqft
    2018-05-01 0 days 2,257 sqft
    2018-06-01 0 days 2,211 sqft
    2018-07-01 0 days 2,080 sqft
    2018-08-01 0 days 2,126 sqft
    2018-09-01 0 days 2,090 sqft
    2018-10-01 0 days 2,114 sqft
    2018-11-01 0 days 2,142 sqft
    2018-12-01 0 days 2,284 sqft
    2019-01-01 0 days 2,437 sqft
    2019-02-01 0 days 2,396 sqft
    2019-03-01 0 days 2,169 sqft
    2019-04-01 0 days 1,974 sqft
    2019-05-01 0 days 1,852 sqft
    2019-06-01 0 days 1,871 sqft
    2019-07-01 0 days 1,877 sqft
    2019-08-01 0 days 1,910 sqft
    2019-09-01 0 days 1,946 sqft
    2019-10-01 0 days 1,980 sqft
    2019-11-01 0 days 1,879 sqft
    2019-12-01 0 days 1,875 sqft
    2020-01-01 0 days 2,019 sqft
    2020-02-01 0 days 1,988 sqft
    2020-03-01 0 days 2,019 sqft
    2020-04-01 0 days 2,016 sqft
    2020-05-01 0 days 2,024 sqft
    2020-06-01 0 days 2,103 sqft
    2020-07-01 0 days 1,934 sqft
    2020-08-01 0 days 2,129 sqft
    2020-09-01 0 days 2,235 sqft
    2020-10-01 0 days 2,120 sqft
    2020-11-01 0 days 1,740 sqft
    2020-12-01 0 days 1,616 sqft
    2021-01-01 0 days 1,738 sqft
    2021-02-01 0 days 1,833 sqft
    2021-03-01 0 days 1,852 sqft
    2021-04-01 0 days 1,821 sqft
    2021-05-01 0 days 1,928 sqft
    2021-06-01 0 days 1,756 sqft
    2021-07-01 0 days 1,611 sqft
    2021-08-01 0 days 1,939 sqft
    2021-09-01 0 days 1,995 sqft
    2021-10-01 0 days 1,937 sqft
    2021-11-01 0 days 1,873 sqft
    2021-12-01 0 days 1,826 sqft
    2022-01-01 0 days 1,516 sqft
    2022-02-01 0 days 2,178 sqft
    2022-03-01 0 days 2,057 sqft
    2022-04-01 0 days 2,068 sqft
    2022-05-01 0 days 1,601 sqft
    2022-06-01 0 days 1,684 sqft
    2022-07-01 0 days 1,634 sqft
    2022-08-01 0 days 1,863 sqft
    2022-09-01 0 days 1,663 sqft
    2022-10-01 0 days 1,823 sqft
    2022-11-01 0 days 1,744 sqft
    2022-12-01 0 days 1,702 sqft
    2023-01-01 0 days 1,655 sqft
    2023-02-01 0 days 1,574 sqft
    2023-03-01 0 days 1,579 sqft
    2023-04-01 0 days 1,872 sqft
    2023-05-01 0 days 1,953 sqft
    2023-06-01 0 days 1,962 sqft
    2023-07-01 0 days 1,908 sqft
    2023-08-01 0 days 1,880 sqft
    2023-09-01 0 days 1,908 sqft
    2023-10-01 0 days 1,958 sqft
    2023-11-01 0 days 2,019 sqft
    2023-12-01 0 days 2,043 sqft
    2024-01-01 0 days 2,022 sqft
    2024-02-01 0 days 2,028 sqft
    2024-03-01 0 days 2,042 sqft
    Worthington's median listing age (time on market) for 2024-03-01 was 0 days.

    Worthington's median square footage for active listings during the 2024-03-01 period was 2,042 sqft. One year prior, the average listing was 1,579 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.