Minnesota VA Loan Rates, Closing Costs & Stats

Minnesota

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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.

    Minnesota VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Minnesota averaged 6.38% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Minnesota's average VA mortgage closing costs are $5,886.

    The average rate for the prior week (2025-03-28) was 6.4% and one month ago for the week of 2025-02-28, the average rate was 6.78%.

    The average rate one year ago was 6.99%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.42%.

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

    Minnesota 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 Minnesota level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 807 6.42% $5,872
    UNITED WHOLESALE MORTGAGE, LLC 675 6.02% $7,569
    QUICKEN LOANS, LLC 273 6.11% $10,275
    FREEDOM MORTGAGE CORPORATION 242 6.18% $8,653
    PENNYMAC LOAN SERVICES, LLC 211 5.71% $7,043
    CROSSCOUNTRY MORTGAGE, LLC 152 6.32% $6,722
    Bell Bank 134 6.28% $7,176
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 126 6.38% $7,319
    USAA Federal Savings Bank 116 6.14% $7,646
    NAVY FEDERAL CREDIT UNION 108 5.89% $6,829
    NEWREZ LLC 86 6.19% $7,289
    BROKER SOLUTIONS, INC. 85 6.55% $10,240
    GUARANTEED RATE, INC. 85 6.09% $5,910
    Prosperity Home Mortgage, LLC 84 6.10% $8,738
    LOANDEPOT.COM, LLC 80 6.00% $9,052
    NEW DAY FINANCIAL, LLC 77 7.50% $13,435
    VILLAGE CAPITAL MORTGAGE 62 5.66% $6,287
    Flagstar Bank, FSB 56 6.22% $7,757
    DHI MORTGAGE COMPANY, LTD. 51 5.17% $4,624
    The Federal Savings Bank 51 6.20% $16,065
    American Mortgage & Equity Consultants, Inc. 44 6.41% $12,223
    EAGLE HOME MORTGAGE, LLC 43 5.89% $7,775
    Mr. Cooper ( Nationstar Mortgage ) 38 6.37% $8,048
    LAKEVIEW LOAN SERVICING, LLC 38 5.81% $5,330
    U.S. Bank 37 6.43% $7,059
    PLAZA HOME MORTGAGE, INC. 37 6.23% $9,541
    GUARANTEED RATE AFFINITY, LLC 35 6.38% $6,475
    CMG MORTGAGE, INC. 35 6.22% $9,070
    Tradition Mortgage, LLC 32 6.27% $9,041
    PLANET HOME LENDING, LLC 29 5.96% $4,483
    Plains Commerce Bank 28 6.30% $8,551
    Servion, Inc. 27 6.36% $7,783
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 26 6.30% $6,727
    Granite Community Bank 24 6.22% $7,467
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 24 6.18% $9,673
    GUILD MORTGAGE COMPANY 24 6.12% $9,784
    First Federal Bank 24 5.79% $6,872
    Barrington Bank & Trust Company, N.A. 23 6.38% $7,239
    M/I FINANCIAL, LLC 23 5.67% $11,861
    MOVEMENT MORTGAGE, LLC 22 6.35% $8,540
    Wells Fargo Bank 20 6.32% $6,902
    EVERETT FINANCIAL, INC. 20 6.66% $8,141
    UNION HOME MORTGAGE CORP. 19 6.61% $7,776
    North Shore Bank of Commerce 17 6.26% $8,496
    BAY EQUITY LLC 17 6.32% $9,709
    Carrington Mortgage Services, LLC 17 5.78% $11,361
    Summit Mortgage Corporation 17 6.31% $7,957
    AMERICAN PACIFIC MORTGAGE CORPORATION 16 6.75% $12,885
    NBKC BANK 15 5.83% $6,484
    Alerus Financial 15 6.40% $7,309
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 6.63% $5,199
    Cambria Financial Group, LLC 14 6.29% $9,029
    MUTUAL OF OMAHA MORTGAGE, INC. 14 6.14% $17,392
    Magnolia Bank 14 5.88% $18,739
    PULTE MORTGAGE LLC 14 5.98% $10,470
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 13 6.34% $8,301
    CARDINAL FINANCIAL 12 6.48% $14,717
    JPMorgan Chase Bank 12 6.05% $8,018
    AMERISAVE MORTGAGE CORPORATION 12 6.02% $21,263
    MASON MCDUFFIE MORTGAGE CORPORATION 12 6.06% $10,708
    Equity Prime Mortgage LLC 11 6.90% $6,280
    Royal Credit Union 11 6.58% $9,137
    Gate City Bank 11 5.68% $9,555
    MORTGAGE SOLUTIONS OF COLORADO, LLC 11 7.23% $9,624
    MEGASTAR FINANCIAL CORP. 10 6.00% $9,029
    TOWN AND COUNTRY Credit Union 10 6.06% $4,367
    PENTAGON FEDERAL CREDIT UNION 9 5.97% $8,271
    Waterstone Mortgage Corporation 9 6.39% $13,335
    Nations Lending Corporation 9 6.32% $8,364
    SUN WEST MORTGAGE COMPANY, INC. 9 5.87% $8,282
    HOMEBRIDGE FINANCIAL SERVICES, INC. 9 6.48% $2,101
    Century Mortgage Company DBA Century Lending Company 8 5.76% $9,713
    Paramount Residential Mortgage Group, Inc. 8 6.44% $11,834
    Regent Financial Group, Inc. 8 6.62% $6,701
    HOMEOWNERS FINANCIAL GROUP USA, LLC 7 6.45% $6,558
    PREMIER MORTGAGE RESOURCES, L.L.C. 7 6.61% $5,758
    Ixonia Bank 7 6.18% $11,243
    ALLIED MORTGAGE GROUP, INC. 7 6.11% $6,125
    Lakeview Community Capital, LLC 7 5.91% $4,833
    Armed Forces Bank 7 6.23% $7,531
    Merchants Bank 6 6.07% $8,892
    LOANPAL, LLC 6 5.54% $13,224
    First International Bank & Trust 6 6.15% $10,015
    Bremer Bank 6 6.42% $6,885
    PHH Mortgage Corporation 6 5.93% $5,107
    Old National Bank 5 5.70% $8,458
    GoPrime Mortgage, Inc. 5 6.53% $5,809
    TOWNE MORTGAGE COMPANY 5 6.55% $6,995
    IOWA BANKERS MORTGAGE CORPORATION 5 6.15% $4,095
    First Bank & Trust 5 6.00% $10,251
    The Huntington National Bank 5 6.03% $9,503
    SUCCESS MORTGAGE PARTNERS, INC. 4 6.31% $12,487
    First Western Bank & Trust 4 5.75% $5,582
    Sierra Pacific Mortgage Company, Inc. 4 6.06% $15,718
    VALLEY MORTGAGE, INC. 4 6.34% $7,583
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 6.75% $7,672
    Florida Capital Bank 4 5.66% $14,992
    AMERICAN FINANCIAL NETWORK, INC. 4 6.25% $7,582
    ST. CLOUD FINANCIAL 4 6.16% $10,298
    Texana Bank 4 6.69% $16,931
    JMAC LENDING, INC. 4 5.91% $9,119
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 5.84% $9,463
    GSF Mortgage Corporation 3 6.17% $15,211
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.08% $12,252
    AmeriHome Mortgage Company, LLC 3 6.25% $3,082
    AXIA FINANCIAL, LLC 3 6.92% $7,260
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 3 6.96% $2,348
    LAND HOME FINANCIAL SERVICES, INC. 3 5.96% $9,577
    MORTGAGEONE, INC. 3 7.21% $6,100
    NATIONS DIRECT MORTGAGE, LLC 3 6.17% $9,717
    PREMIA MORTGAGE, LLC 3 5.65% $3,187
    Strong Home Mortgage, LLC 3 5.46% $13,977
    ZILLOW HOME LOANS, LLC 3 6.38% $9,774
    Park State Bank 2 6.25% $9,305
    RELIANCE FIRST CAPITAL, LLC 2 6.31% $9,576
    PLUS RELOCATION MORTGAGE, LLC 2 6.19% $4,813
    SWBC MORTGAGE CORPORATION 2 6.06% $3,359
    CORTRUST MORTGAGE, INC. 2 5.94% $5,911
    AFFINITY PLUS 2 6.88% $2,419
    CONTOUR MORTGAGE CORPORATION 2 6.19% $3,956
    The Loan Store, Inc. 2 6.38% $4,205
    Mid-Continent Funding, Inc. 2 5.88% $2,971
    Northpointe Bank 2 6.13% $7,160
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.88% $4,402
    MORTGAGE ACCESS CORP. 2 5.69% $9,746
    Bank of America 2 6.69% $15,153
    FIRST COMMUNITY CREDIT UNION 2 6.06% $6,879
    SIRVA MORTGAGE, INC. 2 6.94% $14,054
    LENOX FINANCIAL MORTGAGE CORPORATION 2 5.19% $1,356
    FIRST COLONY MORTGAGE CORPORATION 2 6.69% $4,740
    Academy Bank 2 6.00% $4,625
    ALTRA 2 6.13% $8,784
    V.I.P. MORTGAGE, INC. 2 5.69% $4,198
    GENEVA FINANCIAL, LLC 2 6.88% $5,423
    NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $13,971
    NBH Bank 2 5.75% $3,534
    MILEND, INC. 2 6.44% $13,121
    EMM LOANS LLC 1 6.25% $9,861
    Sunflower Bank 1 6.38% $8,172
    DELMAR FINANCIAL COMPANY 1 5.63% $4,195
    Cornerstone First Mortgage, Inc 1 5.25% $9,343
    Commerce Home Mortgage, Inc. 1 6.25% $4,291
    CANOPY MORTGAGE, LLC 1 6.63% $13,849
    BLACK HILLS FEDERAL CREDIT UNION 1 6.00% $3,114
    Bank of Colorado 1 5.63% $4,736
    UNITED MORTGAGE CORP 1 5.75% $14,261
    Arvest Bank 1 6.38% $3,629
    Ameris Bank 1 5.75% $6,680
    American National Bank 1 6.75% $4,090
    AMERICAN FINANCING CORPORATION 1 5.50% $9,153
    ALAMEDA MORTGAGE CORPORATION 1 6.75% $29,640
    North American Savings Bank, F.S.B. 1 6.49% $4,765
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.00% $11,526
    M&T Bank 1 7.25% $5,749
    OPEN MORTGAGE, LLC 1 5.75% $5,450
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.75% $10,655
    Lincoln Savings Bank 1 5.75% $4,272
    LIBERTY HOME MORTGAGE CORPORATION 1 6.63% $16,267
    LADERA LENDING, INC. 1 5.75% $6,525
    Johnson Bank 1 6.63% $3,474
    HOMESTEAD FUNDING CORP. 1 5.75% $1,822
    Presidential Bank, FSB 1 6.75% $8,181
    HomePromise Corporation 1 7.88% $24,896
    Home Mortgage Alliance Corp 1 5.63% $10,775
    Flanagan State Bank 1 6.63% $0
    Reliabank Dakota 1 5.75% $9,840
    First PREMIER Bank 1 6.50% $4,165
    ROYAL UNITED MORTGAGE LLC 1 7.13% $12,218
    S1L, Inc. 1 6.75% $7,951
    Service Federal Credit Union 1 6.50% $2,074
    First Dakota National Bank 1 6.25% $5,650
    SFMC, LP 1 6.25% $6,243
    South State Bank 1 6.00% $5,834
    Western State Bank 1 6.75% $2,950
    First Bank 1 5.75% $13,660
    SUMMIT FUNDING, INC. 1 6.75% $23,416

    The top Minnesota VA lender as defined by loan originations is Mortgage Research Center, LLC, with 807 VA loans originated. Their average total fees are $5,872, which is $1,698 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Minnesota VA lenders (with over 10 loans originated) are TOWN AND COUNTRY Credit Union ($4,367), PLANET HOME LENDING, LLC ($4,483), DHI MORTGAGE COMPANY, LTD. ($4,624), PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,199) and LAKEVIEW LOAN SERVICING, LLC ($5,330).

    The lowest rate Minnesota VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.17%), VILLAGE CAPITAL MORTGAGE (5.66%), M/I FINANCIAL, LLC (5.67%), Gate City Bank (5.68%) and PENNYMAC LOAN SERVICES, LLC (5.71%).

    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.