Iowa VA Loan Rates, Closing Costs & Stats

Iowa

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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.

    Iowa VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Iowa averaged 6.44% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Iowa's average VA mortgage closing costs are $5,047.

    The average rate for the prior week (2025-03-28) was 6.36% and one month ago for the week of 2025-02-28, the average rate was 6.63%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.97%.

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

    Iowa 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 Iowa level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 731 6.41% $4,729
    UNITED WHOLESALE MORTGAGE, LLC 213 5.92% $6,347
    GREENSTATE CREDIT UNION 189 5.81% $4,643
    QUICKEN LOANS, LLC 159 6.18% $8,983
    RESIDENTIAL MORTGAGE NETWORK, INC. 125 6.11% $4,469
    BROKER SOLUTIONS, INC. 105 6.44% $7,862
    NEW DAY FINANCIAL, LLC 104 7.44% $8,245
    PENNYMAC LOAN SERVICES, LLC 96 5.76% $6,631
    NEWREZ LLC 96 6.13% $6,066
    FREEDOM MORTGAGE CORPORATION 92 6.42% $6,895
    USAA Federal Savings Bank 80 6.37% $5,087
    NAVY FEDERAL CREDIT UNION 76 5.93% $3,983
    GERSHMAN INVESTMENT CORP. 69 5.96% $5,379
    VERIDIAN CREDIT UNION 66 5.73% $5,544
    HOMESERVICES LENDING, LLC 63 6.01% $5,978
    DHI MORTGAGE COMPANY, LTD. 60 5.29% $9,073
    Barrington Bank & Trust Company, N.A. 49 6.36% $5,248
    VILLAGE CAPITAL MORTGAGE 45 5.80% $5,563
    IOWA BANKERS MORTGAGE CORPORATION 45 6.29% $4,603
    U.S. Bank 43 6.04% $5,204
    GUILD MORTGAGE COMPANY 38 6.27% $8,475
    GUARANTEED RATE, INC. 36 6.26% $6,292
    LOANDEPOT.COM, LLC 33 6.42% $9,049
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 29 6.57% $6,095
    MOVEMENT MORTGAGE, LLC 28 6.33% $7,264
    The Federal Savings Bank 27 6.38% $16,533
    RUHL MORTGAGE, LLC 26 6.20% $4,806
    PLANET HOME LENDING, LLC 26 5.93% $5,334
    FLAT BRANCH MORTGAGE, INC. 25 6.45% $6,272
    HOMESIDE FINANCIAL, LLC 25 6.89% $8,268
    Community Choice Credit Union 25 5.88% $3,558
    AMERICAN PACIFIC MORTGAGE CORPORATION 22 6.50% $9,963
    Flanagan State Bank 21 6.42% $5,370
    CMG MORTGAGE, INC. 19 6.34% $9,371
    Plains Commerce Bank 18 6.35% $8,178
    Northwest Bank 16 6.48% $7,947
    LAND HOME FINANCIAL SERVICES, INC. 16 6.18% $7,579
    Fortress Bank 15 6.46% $6,042
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.46% $7,935
    Wells Fargo Bank 14 6.37% $5,676
    Mr. Cooper ( Nationstar Mortgage ) 14 6.18% $6,981
    CROSSCOUNTRY MORTGAGE, LLC 13 6.62% $3,476
    Flagstar Bank, FSB 12 6.56% $5,666
    FRONTIER FINANCIAL, INC. 12 6.23% $4,802
    FIRST COMMUNITY MORTGAGE, INC. 11 6.26% $4,920
    AMERISAVE MORTGAGE CORPORATION 10 5.59% $16,995
    MUTUAL OF OMAHA MORTGAGE, INC. 10 6.29% $12,057
    NBKC BANK 10 6.10% $5,274
    Servion, Inc. 10 6.44% $4,836
    LAKEVIEW LOAN SERVICING, LLC 9 5.86% $5,147
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.28% $6,948
    American Mortgage & Equity Consultants, Inc. 7 6.48% $9,707
    CHARTER WEST BANK 7 6.36% $6,254
    COMPASS MORTGAGE, INC. 7 6.30% $7,411
    The Central Trust Bank 6 6.69% $9,712
    Access Bank 6 6.23% $6,368
    V.I.P. MORTGAGE, INC. 6 6.42% $6,432
    Waterstone Mortgage Corporation 6 6.71% $6,977
    First Federal Bank 6 5.90% $6,148
    Great Southern Bank 6 6.31% $5,238
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.33% $1,728
    Lincoln Savings Bank 6 6.19% $8,427
    CARDINAL FINANCIAL 6 6.88% $6,308
    Carrington Mortgage Services, LLC 6 6.02% $8,542
    PENTAGON FEDERAL CREDIT UNION 6 6.31% $7,062
    PLAZA HOME MORTGAGE, INC. 6 6.15% $9,223
    American Bank and Trust Company 5 6.35% $5,760
    West Gate Bank 5 6.15% $4,649
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 7.23% $7,179
    Citizens Bank 5 6.03% $10,148
    Sierra Pacific Mortgage Company, Inc. 5 6.68% $4,213
    AMERICAN FINANCIAL RESOURCES, INC. 5 6.38% $11,070
    Equity Prime Mortgage LLC 5 7.13% $6,282
    ENVOY MORTGAGE, LTD 5 6.25% $3,910
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.35% $7,693
    ROYAL UNITED MORTGAGE LLC 4 6.94% $10,853
    STOCKTON MORTGAGE CORPORATION 4 6.94% $7,427
    Central Bank 4 5.81% $5,156
    SUN WEST MORTGAGE COMPANY, INC. 4 6.20% $16,030
    First National Bank of Omaha 4 6.09% $8,660
    CHURCHILL MORTGAGE CORPORATION 4 6.78% $8,043
    GUARANTEED RATE AFFINITY, LLC 4 6.01% $1,750
    MLD MORTGAGE INC. 4 6.38% $6,546
    First PREMIER Bank 3 6.00% $5,221
    DAS Acquisition Company, LLC 3 7.13% $7,623
    MID AMERICA MORTGAGE, INC. 3 6.42% $7,482
    MORIA DEVELOPMENT, INC. 3 6.25% $4,200
    CALCON MUTUAL MORTGAGE LLC 3 6.83% $4,500
    MORTGAGEONE, INC. 3 6.71% $5,971
    Regent Financial Group, Inc. 3 6.88% $7,867
    PREMIA MORTGAGE, LLC 3 6.00% $4,623
    Paramount Residential Mortgage Group, Inc. 3 6.21% $10,746
    AXIA FINANCIAL, LLC 3 7.21% $5,759
    HOMEOWNERS FINANCIAL GROUP USA, LLC 3 6.92% $8,355
    First State Bank 3 5.71% $9,974
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.00% $17,993
    American National Bank 2 6.19% $7,442
    OPEN MORTGAGE, LLC 2 7.63% $3,697
    Armed Forces Bank 2 5.81% $4,930
    Core Bank 2 6.12% $3,600
    Willamette Valley Bank 2 6.63% $3,886
    MICHIGAN MUTUAL, INC. 2 5.88% $4,747
    Magnolia Bank 2 6.69% $13,528
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.75% $9,447
    Encompass Lending Group, LP 2 6.69% $6,982
    Ixonia Bank 2 5.69% $16,471
    Texana Bank 2 6.06% $4,169
    The Loan Store, Inc. 2 6.12% $6,921
    M&T Bank 2 5.94% $4,368
    ZILLOW HOME LOANS, LLC 1 6.25% $3,656
    Alerus Financial 1 6.25% $4,644
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.63% $8,805
    AmeriHome Mortgage Company, LLC 1 5.99% $1,490
    BAY EQUITY LLC 1 5.99% $5,864
    Bell Bank 1 5.75% $3,374
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $4,091
    Citibank 1 6.50% $3,683
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $11,018
    CORNERSTONE HOME LENDING, INC. 1 6.25% $86
    DELMAR FINANCIAL COMPANY 1 6.13% $500
    First Interstate Bank 1 6.13% $2,725
    Gateway First Bank 1 6.00% $15,844
    GENEVA FINANCIAL, LLC 1 7.13% $1,101
    Home Mortgage Alliance Corp 1 7.13% $6,781
    JPMorgan Chase Bank 1 6.75% $6,735
    Lincoln FSB of Nebraska 1 6.75% $3,156
    Meridian Bank Corporation 1 5.75% $12,569
    MORTGAGE ACCESS CORP. 1 5.75% $7,773
    NETWORK CAPITAL FUNDING CORPORATION 1 7.13% $2,238
    NFM, INC. 1 7.63% $5,839
    OCMBC, INC. 1 5.63% $1,631
    PHH Mortgage Corporation 1 5.38% $7,906
    Regions Bank 1 7.00% $10,177
    Reliabank Dakota 1 6.25% $2,643
    Sunflower Bank 1 5.99% $5,083
    The Freedom Bank of Virginia 1 6.25% $14,033
    TOWNE MORTGAGE COMPANY 1 5.25% $8,383
    Truist 1 6.70% $1,552
    UNION HOME MORTGAGE CORP. 1 6.13% $3,360
    US MORTGAGE CORPORATION 1 7.13% $3,756
    VAN DYK MORTGAGE CORPORATION 1 7.63% $3,776
    Academy Bank 1 6.13% $12,817

    The top Iowa VA lender as defined by loan originations is Mortgage Research Center, LLC, with 731 VA loans originated. Their average total fees are $4,729, which is $1,617 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Iowa VA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($3,476), Community Choice Credit Union ($3,558), NAVY FEDERAL CREDIT UNION ($3,983), RESIDENTIAL MORTGAGE NETWORK, INC. ($4,469) and IOWA BANKERS MORTGAGE CORPORATION ($4,603).

    The lowest rate Iowa VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.29%), AMERISAVE MORTGAGE CORPORATION (5.59%), VERIDIAN CREDIT UNION (5.73%), PENNYMAC LOAN SERVICES, LLC (5.76%) and VILLAGE CAPITAL MORTGAGE (5.80%).

    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.