Burlington VA Loan Rates, Closing Costs & Stats

BURLINGTON, NC

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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.

    Burlington's 62 lenders originated 257 VA loans during 2023. The total origination value was $82,825,000, with an average VA loan value of $322,276.

    Burlington VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Burlington averaged 6.52% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Burlington's average VA mortgage closing costs are $5,777.

    The average rate for the prior week (2025-02-07) was 6.25% and one month ago for the week of 2025-01-10, the average rate was 6.19%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.65%.

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

    Burlington 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 Burlington level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 44 6.77% $7,471
    DHI MORTGAGE COMPANY, LTD. 34 5.52% $6,592
    NAVY FEDERAL CREDIT UNION 14 5.76% $4,908
    LOANDEPOT.COM, LLC 13 5.77% $10,836
    MOVEMENT MORTGAGE, LLC 12 6.90% $6,320
    QUICKEN LOANS, LLC 12 6.10% $10,803
    UNION HOME MORTGAGE CORP. 9 6.21% $7,834
    USAA Federal Savings Bank 7 6.52% $7,941
    NEW DAY FINANCIAL, LLC 7 7.57% $13,743
    CROSSCOUNTRY MORTGAGE, LLC 6 6.88% $8,948
    UNITED WHOLESALE MORTGAGE, LLC 5 6.07% $14,508
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.25% $6,631
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.56% $6,853
    The Federal Savings Bank 4 6.50% $14,292
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 7.12% $6,574
    Barrington Bank & Trust Company, N.A. 3 6.42% $5,028
    FREEDOM MORTGAGE CORPORATION 3 6.46% $29,563
    PENNYMAC LOAN SERVICES, LLC 3 5.96% $10,696
    GUARANTEED RATE, INC. 3 5.85% $9,647
    Corporate Investors Mortgage Group, Inc. 3 6.42% $5,867
    Truist 3 6.35% $5,334
    VILLAGE CAPITAL MORTGAGE 3 6.42% $4,181
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.67% $5,998
    North State Bank 2 5.81% $14,280
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.06% $19,398
    NEWREZ LLC 2 6.19% $5,809
    BROKER SOLUTIONS, INC. 2 6.50% $10,382
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.88% $11,270
    SOVEREIGN LENDING GROUP INCORPORATED 2 6.38% $17,088
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $3,723
    GUILD MORTGAGE COMPANY 2 7.38% $2,524
    Wells Fargo Bank 1 5.50% $10,400
    AMERICAN FINANCING CORPORATION 1 5.50% $11,573
    American Security Mortgage Corp. 1 6.25% $11,339
    Ameris Bank 1 6.25% $9,069
    Blue Ridge Bank 1 6.25% $13,924
    CARDINAL FINANCIAL 1 6.99% $10,263
    Citizens Bank 1 5.63% $10,275
    CMG MORTGAGE, INC. 1 7.13% $19,985
    Core Bank 1 5.75% $2,963
    DELMAR FINANCIAL COMPANY 1 5.00% $5,687
    First Federal Bank 1 6.63% $18,416
    FIRST HOME MORTGAGE CORPORATION 1 7.63% $3,341
    GoPrime Mortgage, Inc. 1 6.99% $7,291
    HOMESIDE FINANCIAL, LLC 1 6.25% $11,597
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.00% $2,937
    Integrity Home Mortgage Corp 1 6.00% $2,345
    INTERCOASTAL MORTGAGE COMPANY 1 6.00% $7,229
    LOANPAL, LLC 1 6.63% $10,243
    MICHIGAN MUTUAL, INC. 1 4.75% $11,693
    MORTGAGE EQUITY PARTNERS LLC 1 6.63% $9,467
    NBKC BANK 1 5.63% $1,922
    Network Funding, L.P. 1 6.13% $25,491
    PLANET HOME LENDING, LLC 1 6.63% $2,172
    PLAZA HOME MORTGAGE, INC. 1 5.99% $5,462
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.00% $4,497
    RELIANCE FIRST CAPITAL, LLC 1 5.50% $15,485
    Residential Mortgage Solutions, Inc. 1 7.50% $14,564
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $10,060
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $7,593
    Towne Mortgage of the Carolinas, LLC 1 7.50% $14,691
    Alcova Mortgage LLC 1 6.25% $600

    The top Burlington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 44 VA loans originated. Their average total fees are $7,471, which is $880 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Burlington VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,908), MOVEMENT MORTGAGE, LLC ($6,320), DHI MORTGAGE COMPANY, LTD. ($6,592), Mortgage Research Center, LLC ($7,471) and QUICKEN LOANS, LLC ($10,803).

    The lowest rate Burlington VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.52%), NAVY FEDERAL CREDIT UNION (5.76%), LOANDEPOT.COM, LLC (5.77%), QUICKEN LOANS, LLC (6.10%) and Mortgage Research Center, LLC (6.77%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Burlington (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 $197,450 (16.2%) $267,815 (28.3%) 0.73 629
    2018-02-01 $198,925 (16.7%) $269,163 (25.6%) 0.72 593
    2018-03-01 $215,000 (19.0%) $275,110 (22.8%) 0.76 535
    2018-04-01 $214,519 (22.6%) $252,938 (10.5%) 0.73 484
    2018-05-01 $221,995 (23.7%) $266,911 (0.7%) 0.74 499
    2018-06-01 $223,950 (26.5%) $272,446 (3.2%) 0.74 478
    2018-07-01 $221,700 (23.7%) $272,581 (3.2%) 0.74 476
    2018-08-01 $217,925 (23.5%) $254,470 (-0.6%) 0.73 450
    2018-09-01 $229,000 (29.0%) $256,879 (2.4%) 0.77 445
    2018-10-01 $225,000 (24.4%) $253,821 (1.4%) 0.76 490
    2018-11-01 $227,725 (21.8%) $262,284 (2.6%) 0.78 467
    2018-12-01 $227,500 (20.4%) $262,431 (3.1%) 0.80 448
    2019-01-01 $232,901 (18.0%) $259,851 (-3.0%) 0.81 423
    2019-02-01 $243,255 (22.3%) $271,465 (0.9%) 0.83 396
    2019-03-01 $249,070 (15.9%) $275,064 (0.0%) 0.82 373
    2019-04-01 $252,878 (17.9%) $275,710 (9.0%) 0.80 350
    2019-05-01 $255,000 (14.9%) $283,832 (6.3%) 0.80 357
    2019-06-01 $259,900 (16.1%) $286,120 (5.0%) 0.80 343
    2019-07-01 $249,975 (12.8%) $295,930 (8.6%) 0.78 352
    2019-08-01 $246,462 (13.1%) $293,485 (15.3%) 0.78 356
    2019-09-01 $241,230 (5.3%) $289,473 (12.7%) 0.77 363
    2019-10-01 $238,511 (6.0%) $288,114 (13.5%) 0.77 355
    2019-11-01 $234,950 (3.2%) $281,412 (7.3%) 0.78 326
    2019-12-01 $230,450 (1.3%) $279,379 (6.5%) 0.78 312
    2020-01-01 $242,963 (4.3%) $292,116 (12.4%) 0.82 321
    2020-02-01 $248,950 (2.3%) $310,188 (14.3%) 0.82 297
    2020-03-01 $249,999 (0.4%) $307,664 (11.9%) 0.79 311
    2020-04-01 $260,228 (2.9%) $319,400 (15.9%) 0.82 335
    2020-05-01 $269,950 (5.9%) $344,931 (21.5%) 0.82 268
    2020-06-01 $287,523 (10.6%) $363,359 (27.0%) 0.84 233
    2020-07-01 $280,473 (12.2%) $324,164 (9.5%) 0.81 224
    2020-08-01 $289,500 (17.5%) $346,460 (18.1%) 0.83 210
    2020-09-01 $298,348 (23.7%) $335,538 (15.9%) 0.85 211
    2020-10-01 $279,700 (17.3%) $328,503 (14.0%) 0.79 211
    2020-11-01 $288,725 (22.9%) $344,082 (22.3%) 0.84 192
    2020-12-01 $289,878 (25.8%) $343,929 (23.1%) 0.86 175
    2021-01-01 $295,000 (21.4%) $350,066 (19.8%) 0.85 148
    2021-02-01 $275,132 (10.5%) $340,902 (9.9%) 0.79 145
    2021-03-01 $274,037 (9.6%) $359,424 (16.8%) 0.81 114
    2021-04-01 $299,700 (15.2%) $387,251 (21.2%) 0.81 101
    2021-05-01 $282,445 (4.6%) $368,495 (6.8%) 0.76 124
    2021-06-01 $274,618 (-4.5%) $386,383 (6.3%) 0.72 128
    2021-07-01 $286,000 (2.0%) $383,193 (18.2%) 0.75 149
    2021-08-01 $289,945 (0.2%) $365,305 (5.4%) 0.77 169
    2021-09-01 $289,375 (-3.0%) $372,784 (11.1%) 0.78 185
    2021-10-01 $290,000 (3.7%) $358,187 (9.0%) 0.77 174
    2021-11-01 $290,870 (0.7%) $350,903 (2.0%) 0.78 187
    2021-12-01 $314,876 (8.6%) $368,380 (7.1%) 0.85 169
    2022-01-01 $336,393 (14.0%) $378,912 (8.2%) 0.92 131
    2022-02-01 $321,473 (16.8%) $379,846 (11.4%) 0.84 102
    2022-03-01 $352,878 (28.8%) $407,994 (13.5%) 0.88 98
    2022-04-01 $371,635 (24.0%) $414,487 (7.0%) 0.89 104
    2022-05-01 $363,225 (28.6%) $397,348 (7.8%) 0.83 125
    2022-06-01 $377,596 (37.5%) $434,938 (12.6%) 0.85 172
    2022-07-01 $385,000 (34.6%) $436,899 (14.0%) 0.87 213
    2022-08-01 $362,450 (25.0%) $383,152 (4.9%) 0.84 240
    2022-09-01 $355,083 (22.7%) $380,724 (2.1%) 0.83 232
    2022-10-01 $357,415 (23.3%) $381,533 (6.5%) 0.85 230
    2022-11-01 $367,475 (26.3%) $385,955 (10.0%) 0.88 283
    2022-12-01 $351,940 (11.8%) $371,205 (0.8%) 0.87 292
    2023-01-01 $360,850 (7.3%) $375,180 (-1.0%) 0.90 297
    2023-02-01 $359,975 (12.0%) $381,682 (0.5%) 0.87 272
    2023-03-01 $365,000 (3.4%) $382,371 (-6.3%) 0.87 244
    2023-04-01 $365,000 (-1.8%) $391,280 (-5.6%) 0.85 259
    2023-05-01 $363,220 (0.0%) $388,079 (-2.3%) 0.82 272
    2023-06-01 $365,250 (-3.3%) $396,003 (-9.0%) 0.82 295
    2023-07-01 $359,900 (-6.5%) $394,165 (-9.8%) 0.82 295
    2023-08-01 $360,215 (-0.6%) $394,134 (2.9%) 0.83 304
    2023-09-01 $359,240 (1.2%) $383,767 (0.8%) 0.84 343
    2023-10-01 $352,535 (-1.4%) $383,364 (0.5%) 0.83 355
    2023-11-01 $357,544 (-2.7%) $381,340 (-1.2%) 0.85 375
    2023-12-01 $344,990 (-2.0%) $382,247 (3.0%) 0.84 431
    2024-01-01 $339,968 (-5.8%) $371,973 (-0.9%) 0.83 381
    2024-02-01 $336,000 (-6.7%) $369,464 (-3.2%) 0.81 364
    2024-03-01 $331,495 (-9.2%) $366,828 (-4.1%) 0.78 335
    2024-04-01 $354,473 (-2.9%) $388,215 (-0.8%) 0.82 340
    2024-05-01 $351,748 (-3.2%) $396,720 (2.2%) 0.81 361
    2024-06-01 $359,900 (-1.5%) $394,882 (-0.3%) 0.82 377
    2024-07-01 $358,240 (-0.5%) $393,063 (-0.3%) 0.82 424
    2024-08-01 $351,990 (-2.3%) $396,857 (0.7%) 0.82 486
    2024-09-01 $354,248 (-1.4%) $395,161 (3.0%) 0.83 479
    2024-10-01 $354,990 (0.7%) $387,097 (1.0%) 0.84 522
    2024-11-01 $357,000 (-0.2%) $381,205 (0.0%) 0.86 532
    2024-12-01 $355,030 (2.9%) $380,376 (-0.5%) 0.88 514
    2025-01-01 $354,948 (4.4%) $374,519 (0.7%) 0.00 472
    Burlington's median listing price for 2025-01-01 was $354,948, a difference of $14,980 (4.4%) versus the prior year and $-82 versus the prior month.

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

    Burlington's average listing price for 2025-01-01 was $374,519, a difference of $2,546 (0.7%) versus the prior year and $-5,857 versus the prior month.

    For the 2025-01-01 period, Burlington had 472 MLS listings, a difference of -42 listings (-8%) versus the prior month and 91 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 105 days 1,960 sqft
    2018-02-01 95 days 1,937 sqft
    2018-03-01 68 days 1,961 sqft
    2018-04-01 63 days 1,980 sqft
    2018-05-01 60 days 1,964 sqft
    2018-06-01 54 days 1,981 sqft
    2018-07-01 70 days 1,935 sqft
    2018-08-01 67 days 1,933 sqft
    2018-09-01 68 days 1,951 sqft
    2018-10-01 63 days 1,940 sqft
    2018-11-01 71 days 1,955 sqft
    2018-12-01 74 days 1,937 sqft
    2019-01-01 87 days 2,001 sqft
    2019-02-01 91 days 2,088 sqft
    2019-03-01 71 days 2,098 sqft
    2019-04-01 64 days 2,083 sqft
    2019-05-01 43 days 2,099 sqft
    2019-06-01 48 days 2,187 sqft
    2019-07-01 53 days 2,070 sqft
    2019-08-01 51 days 2,022 sqft
    2019-09-01 52 days 1,976 sqft
    2019-10-01 54 days 1,950 sqft
    2019-11-01 48 days 1,946 sqft
    2019-12-01 59 days 1,922 sqft
    2020-01-01 66 days 1,944 sqft
    2020-02-01 54 days 1,942 sqft
    2020-03-01 43 days 2,010 sqft
    2020-04-01 42 days 2,066 sqft
    2020-05-01 58 days 2,155 sqft
    2020-06-01 57 days 2,200 sqft
    2020-07-01 38 days 2,134 sqft
    2020-08-01 40 days 2,117 sqft
    2020-09-01 32 days 2,143 sqft
    2020-10-01 31 days 2,060 sqft
    2020-11-01 41 days 2,026 sqft
    2020-12-01 58 days 2,048 sqft
    2021-01-01 60 days 1,929 sqft
    2021-02-01 29 days 1,860 sqft
    2021-03-01 27 days 1,892 sqft
    2021-04-01 25 days 1,923 sqft
    2021-05-01 16 days 1,796 sqft
    2021-06-01 21 days 1,861 sqft
    2021-07-01 23 days 1,850 sqft
    2021-08-01 21 days 1,874 sqft
    2021-09-01 30 days 1,916 sqft
    2021-10-01 33 days 1,825 sqft
    2021-11-01 28 days 1,866 sqft
    2021-12-01 37 days 1,989 sqft
    2022-01-01 46 days 1,964 sqft
    2022-02-01 37 days 1,899 sqft
    2022-03-01 25 days 1,973 sqft
    2022-04-01 13 days 1,984 sqft
    2022-05-01 19 days 1,909 sqft
    2022-06-01 19 days 2,084 sqft
    2022-07-01 28 days 2,109 sqft
    2022-08-01 30 days 2,026 sqft
    2022-09-01 39 days 2,003 sqft
    2022-10-01 43 days 2,050 sqft
    2022-11-01 45 days 2,079 sqft
    2022-12-01 49 days 1,953 sqft
    2023-01-01 60 days 2,001 sqft
    2023-02-01 56 days 2,020 sqft
    2023-03-01 52 days 1,993 sqft
    2023-04-01 36 days 2,026 sqft
    2023-05-01 39 days 1,990 sqft
    2023-06-01 40 days 2,028 sqft
    2023-07-01 43 days 1,984 sqft
    2023-08-01 45 days 1,966 sqft
    2023-09-01 44 days 1,939 sqft
    2023-10-01 48 days 1,904 sqft
    2023-11-01 50 days 1,910 sqft
    2023-12-01 55 days 1,902 sqft
    2024-01-01 58 days 1,875 sqft
    2024-02-01 60 days 1,893 sqft
    2024-03-01 55 days 1,802 sqft
    2024-04-01 50 days 1,929 sqft
    2024-05-01 42 days 1,914 sqft
    2024-06-01 40 days 1,925 sqft
    2024-07-01 44 days 1,926 sqft
    2024-08-01 47 days 1,927 sqft
    2024-09-01 50 days 1,912 sqft
    2024-10-01 44 days 1,868 sqft
    2024-11-01 50 days 1,902 sqft
    2024-12-01 61 days 1,908 sqft
    2025-01-01 0 days 1,877 sqft
    Burlington's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Burlington's median square footage for active listings during the 2025-01-01 period was 1,877 sqft. One year prior, the average listing was 1,875 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.