Burley VA Loan Rates, Closing Costs & Stats

Burley, ID

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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.

    Burley's 23 lenders originated 37 VA loans during 2023. The total origination value was $12,475,000, with an average VA loan value of $337,162.

    Burley VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Burley averaged 6.73% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Burley's average VA mortgage closing costs are $7,152.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.42%.

    The average rate one year ago was 5.81%.

    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.

    Burley 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 Burley level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    VAN DYK MORTGAGE CORPORATION 4 7.19% $9,218
    Mortgage Research Center, LLC 4 6.50% $6,142
    QUICKEN LOANS, LLC 3 6.45% $15,578
    IDAHO CENTRAL 3 6.00% $4,117
    UNITED WHOLESALE MORTGAGE, LLC 2 5.99% $6,254
    USAA Federal Savings Bank 2 6.44% $13,730
    VILLAGE CAPITAL MORTGAGE 2 6.44% $13,395
    GUARANTEED RATE, INC. 1 5.63% $1,485
    GUILD MORTGAGE COMPANY 1 6.88% $4,112
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $26,635
    MOVEMENT MORTGAGE, LLC 1 7.25% $31,661
    NAVY FEDERAL CREDIT UNION 1 4.88% $19,653
    NEW DAY FINANCIAL, LLC 1 6.38% $11,065
    Northpointe Bank 1 6.25% $10,091
    PENNYMAC LOAN SERVICES, LLC 1 4.88% $10,098
    The Federal Savings Bank 1 5.63% $22,299
    MOUNTAIN AMERICA 1 5.49% $9,853
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $7,915
    AXIA FINANCIAL, LLC 1 5.63% $18,408
    BROKER SOLUTIONS, INC. 1 6.25% $8,363
    CORNERSTONE HOME LENDING, INC. 1 5.75% $8,324
    EMBRACE HOME LOANS, INC. 1 6.99% $4,649
    FREEDOM MORTGAGE CORPORATION 1 6.25% $15,021

    The top Burley VA lender as defined by loan originations is VAN DYK MORTGAGE CORPORATION, with 4 VA loans originated. Their average total fees are $9,218, which is $3,076 higher than the next largest lender, Mortgage Research Center, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Burley (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 $162,900 (-1.6%) $193,433 (-0.6%) 0.00 78
    2018-02-01 $168,900 (0.7%) $199,841 (0.8%) 0.00 82
    2018-03-01 $170,700 (-1.9%) $201,428 (2.1%) 0.00 84
    2018-04-01 $183,950 (5.2%) $227,521 (13.4%) 0.00 80
    2018-05-01 $181,975 (1.7%) $219,786 (7.2%) 0.00 78
    2018-06-01 $179,850 (5.9%) $224,186 (13.0%) 0.00 95
    2018-07-01 $177,800 (-0.9%) $222,179 (5.7%) 0.00 101
    2018-08-01 $178,400 (1.3%) $224,005 (11.7%) 0.00 99
    2018-09-01 $180,000 (2.9%) $237,300 (23.4%) 0.00 89
    2018-10-01 $185,175 (5.1%) $234,542 (20.2%) 0.00 87
    2018-11-01 $189,450 (18.6%) $235,695 (24.6%) 0.00 89
    2018-12-01 $224,900 (34.3%) $243,176 (22.0%) 0.00 93
    2019-01-01 $221,225 (35.8%) $241,594 (24.9%) 0.00 87
    2019-02-01 $196,225 (16.2%) $238,961 (19.6%) 0.00 79
    2019-03-01 $194,349 (13.9%) $236,600 (17.5%) 0.00 79
    2019-04-01 $193,589 (5.2%) $233,607 (2.7%) 0.00 80
    2019-05-01 $212,175 (16.6%) $257,426 (17.1%) 0.00 78
    2019-06-01 $219,900 (22.3%) $249,169 (11.1%) 0.00 89
    2019-07-01 $217,500 (22.3%) $242,993 (9.4%) 0.00 97
    2019-08-01 $218,941 (22.7%) $260,927 (16.5%) 0.00 114
    2019-09-01 $224,852 (24.9%) $281,235 (18.5%) 0.00 118
    2019-10-01 $228,793 (23.6%) $291,953 (24.5%) 0.00 119
    2019-11-01 $219,900 (16.1%) $287,339 (21.9%) 0.00 111
    2019-12-01 $233,625 (3.9%) $311,928 (28.3%) 0.00 94
    2020-01-01 $253,725 (14.7%) $320,509 (32.7%) 0.00 89
    2020-02-01 $242,900 (23.8%) $313,798 (31.3%) 0.00 76
    2020-03-01 $247,000 (27.1%) $302,335 (27.8%) 0.00 85
    2020-04-01 $239,450 (23.7%) $296,810 (27.1%) 0.00 87
    2020-05-01 $249,000 (17.4%) $307,562 (19.5%) 0.00 80
    2020-06-01 $259,225 (17.9%) $306,763 (23.1%) 0.00 54
    2020-07-01 $239,950 (10.3%) $328,649 (35.3%) 0.00 46
    2020-08-01 $237,900 (8.7%) $326,592 (25.2%) 0.00 42
    2020-09-01 $236,200 (5.1%) $293,831 (4.5%) 0.00 40
    2020-10-01 $239,900 (4.9%) $275,527 (-5.6%) 0.00 37
    2020-11-01 $255,000 (16.0%) $310,728 (8.1%) 0.00 24
    2020-12-01 $263,725 (12.9%) $342,075 (9.7%) 0.00 23
    2021-01-01 $257,500 (1.5%) $350,658 (9.4%) 0.00 18
    2021-02-01 $256,875 (5.8%) $433,016 (38.0%) 0.00 18
    2021-03-01 $317,500 (28.5%) $452,654 (49.7%) 0.00 18
    2021-04-01 $277,000 (15.7%) $373,153 (25.7%) 0.00 18
    2021-05-01 $287,450 (15.4%) $406,630 (32.2%) 0.00 22
    2021-06-01 $289,725 (11.8%) $402,211 (31.1%) 0.00 30
    2021-07-01 $325,000 (35.4%) $436,230 (32.7%) 0.00 37
    2021-08-01 $292,250 (22.9%) $407,139 (24.7%) 0.00 48
    2021-09-01 $354,475 (50.1%) $486,829 (65.7%) 0.00 47
    2021-10-01 $351,600 (46.6%) $459,865 (66.9%) 0.00 51
    2021-11-01 $353,300 (38.6%) $464,150 (49.4%) 0.00 46
    2021-12-01 $356,000 (35.0%) $447,224 (30.7%) 0.00 45
    2022-01-01 $342,000 (32.8%) $481,107 (37.2%) 0.00 37
    2022-02-01 $347,025 (35.1%) $458,530 (5.9%) 0.00 36
    2022-03-01 $359,250 (13.2%) $438,473 (-3.1%) 0.00 44
    2022-04-01 $364,540 (31.6%) $467,375 (25.3%) 0.00 48
    2022-05-01 $370,328 (28.8%) $447,247 (10.0%) 0.00 64
    2022-06-01 $369,918 (27.7%) $426,790 (6.1%) 0.00 71
    2022-07-01 $374,016 (15.1%) $430,507 (-1.3%) 0.00 96
    2022-08-01 $384,995 (31.7%) $447,828 (10.0%) 0.00 105
    2022-09-01 $379,975 (7.2%) $443,841 (-8.8%) 0.00 112
    2022-10-01 $377,008 (7.2%) $433,731 (-5.7%) 0.00 111
    2022-11-01 $390,620 (10.6%) $431,111 (-7.1%) 0.00 112
    2022-12-01 $389,750 (9.5%) $419,574 (-6.2%) 0.00 110
    2023-01-01 $396,516 (15.9%) $422,857 (-12.1%) 0.00 93
    2023-02-01 $391,175 (12.7%) $411,054 (-10.4%) 0.00 95
    2023-03-01 $395,566 (10.1%) $419,645 (-4.3%) 0.00 82
    2023-04-01 $395,000 (8.4%) $404,787 (-13.4%) 0.00 82
    2023-05-01 $399,450 (7.9%) $444,541 (-0.6%) 0.00 97
    2023-06-01 $395,198 (6.8%) $454,867 (6.6%) 0.00 100
    2023-07-01 $395,000 (5.6%) $461,662 (7.2%) 0.00 107
    2023-08-01 $390,100 (1.3%) $452,798 (1.1%) 0.00 106
    2023-09-01 $378,900 (-0.3%) $438,783 (-1.1%) 0.00 122
    2023-10-01 $372,240 (-1.3%) $423,130 (-2.4%) 0.00 119
    2023-11-01 $377,000 (-3.5%) $437,287 (1.4%) 0.00 105
    2023-12-01 $383,950 (-1.5%) $440,687 (5.0%) 0.00 93
    2024-01-01 $383,975 (-3.2%) $452,367 (7.0%) 0.00 78
    2024-02-01 $381,900 (-2.4%) $436,805 (6.3%) 0.00 75
    2024-03-01 $399,000 (0.9%) $454,354 (8.3%) 0.00 78
    Burley's median listing price for 2024-03-01 was $399,000, a difference of $3,434 (0.9%) versus the prior year and $17,100 versus the prior month.

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

    Burley's average listing price for 2024-03-01 was $454,354, a difference of $34,709 (8.3%) versus the prior year and $17,549 versus the prior month.

    For the 2024-03-01 period, Burley had 78 MLS listings, a difference of 3 listings (4%) versus the prior month and -4 listings (-5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Burley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,812 sqft
    2018-02-01 0 days 1,888 sqft
    2018-03-01 0 days 1,947 sqft
    2018-04-01 0 days 1,920 sqft
    2018-05-01 0 days 1,915 sqft
    2018-06-01 0 days 1,826 sqft
    2018-07-01 0 days 1,766 sqft
    2018-08-01 0 days 1,812 sqft
    2018-09-01 0 days 1,874 sqft
    2018-10-01 0 days 1,883 sqft
    2018-11-01 0 days 1,860 sqft
    2018-12-01 0 days 1,988 sqft
    2019-01-01 0 days 2,006 sqft
    2019-02-01 0 days 1,882 sqft
    2019-03-01 0 days 1,936 sqft
    2019-04-01 0 days 2,009 sqft
    2019-05-01 0 days 2,025 sqft
    2019-06-01 0 days 2,020 sqft
    2019-07-01 0 days 2,009 sqft
    2019-08-01 0 days 1,989 sqft
    2019-09-01 0 days 1,976 sqft
    2019-10-01 0 days 1,933 sqft
    2019-11-01 0 days 1,901 sqft
    2019-12-01 0 days 1,942 sqft
    2020-01-01 0 days 2,218 sqft
    2020-02-01 0 days 2,177 sqft
    2020-03-01 0 days 1,879 sqft
    2020-04-01 0 days 1,847 sqft
    2020-05-01 0 days 1,879 sqft
    2020-06-01 0 days 1,985 sqft
    2020-07-01 0 days 1,976 sqft
    2020-08-01 0 days 1,748 sqft
    2020-09-01 0 days 1,834 sqft
    2020-10-01 0 days 1,820 sqft
    2020-11-01 0 days 1,820 sqft
    2020-12-01 0 days 2,102 sqft
    2021-01-01 0 days 2,165 sqft
    2021-02-01 0 days 2,473 sqft
    2021-03-01 0 days 2,701 sqft
    2021-04-01 0 days 1,911 sqft
    2021-05-01 0 days 1,965 sqft
    2021-06-01 0 days 1,893 sqft
    2021-07-01 0 days 2,112 sqft
    2021-08-01 0 days 2,039 sqft
    2021-09-01 0 days 2,000 sqft
    2021-10-01 0 days 1,938 sqft
    2021-11-01 0 days 1,976 sqft
    2021-12-01 0 days 1,914 sqft
    2022-01-01 0 days 1,961 sqft
    2022-02-01 0 days 1,792 sqft
    2022-03-01 0 days 1,910 sqft
    2022-04-01 0 days 2,112 sqft
    2022-05-01 0 days 2,011 sqft
    2022-06-01 0 days 1,848 sqft
    2022-07-01 0 days 1,914 sqft
    2022-08-01 0 days 2,031 sqft
    2022-09-01 0 days 1,986 sqft
    2022-10-01 0 days 2,017 sqft
    2022-11-01 0 days 2,022 sqft
    2022-12-01 0 days 2,000 sqft
    2023-01-01 0 days 1,998 sqft
    2023-02-01 0 days 1,908 sqft
    2023-03-01 0 days 1,970 sqft
    2023-04-01 0 days 1,902 sqft
    2023-05-01 0 days 1,980 sqft
    2023-06-01 0 days 1,935 sqft
    2023-07-01 0 days 2,031 sqft
    2023-08-01 0 days 2,096 sqft
    2023-09-01 0 days 1,938 sqft
    2023-10-01 0 days 1,958 sqft
    2023-11-01 0 days 1,968 sqft
    2023-12-01 0 days 2,015 sqft
    2024-01-01 0 days 2,130 sqft
    2024-02-01 0 days 2,123 sqft
    2024-03-01 0 days 2,114 sqft
    Burley's median listing age (time on market) for 2024-03-01 was 0 days.

    Burley's median square footage for active listings during the 2024-03-01 period was 2,114 sqft. One year prior, the average listing was 1,970 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.