Minnesota VA Loan Rates, Closing Costs & Stats

Minnesota

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.