Burlington VA Loan Rates, Closing Costs & Stats
BURLINGTON, NC
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
5.83%
for the week of 2024-12-06, compared to the national average (all VA variants) of
6.143% for the same period.
Burlington's average VA mortgage closing costs are $5,777.
The average rate for the prior week (2024-11-29) was
6.23% and
one month ago for the week of 2024-11-01, the
average rate was 5.99%.
The average rate one year ago was 6.53%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.47%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $197,500 (14.7%) | $267,574 (28.2%) | 0.73 | 634 |
2018-02-01 | $199,250 (16.8%) | $268,902 (25.6%) | 0.72 | 598 |
2018-03-01 | $215,500 (18.9%) | $274,678 (22.7%) | 0.76 | 540 |
2018-04-01 | $216,175 (23.5%) | $252,793 (10.5%) | 0.73 | 486 |
2018-05-01 | $221,748 (23.7%) | $266,684 (0.6%) | 0.74 | 501 |
2018-06-01 | $222,655 (25.8%) | $272,335 (3.1%) | 0.74 | 480 |
2018-07-01 | $221,575 (24.2%) | $272,470 (3.2%) | 0.74 | 477 |
2018-08-01 | $217,925 (23.5%) | $254,470 (-0.6%) | 0.73 | 451 |
2018-09-01 | $229,000 (28.7%) | $256,905 (2.4%) | 0.77 | 446 |
2018-10-01 | $225,000 (23.6%) | $253,884 (1.4%) | 0.76 | 493 |
2018-11-01 | $229,500 (21.5%) | $262,146 (2.5%) | 0.78 | 474 |
2018-12-01 | $231,900 (22.3%) | $262,441 (3.0%) | 0.80 | 456 |
2019-01-01 | $233,925 (18.4%) | $259,803 (-2.9%) | 0.81 | 433 |
2019-02-01 | $244,329 (22.6%) | $271,097 (0.8%) | 0.83 | 406 |
2019-03-01 | $250,243 (16.1%) | $274,603 (0.0%) | 0.82 | 382 |
2019-04-01 | $253,118 (17.1%) | $275,421 (9.0%) | 0.80 | 357 |
2019-05-01 | $255,000 (15.0%) | $283,267 (6.2%) | 0.80 | 363 |
2019-06-01 | $255,000 (14.5%) | $285,900 (5.0%) | 0.80 | 343 |
2019-07-01 | $249,950 (12.8%) | $295,737 (8.5%) | 0.78 | 353 |
2019-08-01 | $246,518 (13.1%) | $293,303 (15.3%) | 0.78 | 357 |
2019-09-01 | $241,445 (5.4%) | $289,308 (12.6%) | 0.77 | 364 |
2019-10-01 | $239,264 (6.3%) | $287,913 (13.4%) | 0.77 | 357 |
2019-11-01 | $237,000 (3.3%) | $281,200 (7.3%) | 0.78 | 329 |
2019-12-01 | $233,542 (0.7%) | $279,524 (6.5%) | 0.78 | 314 |
2020-01-01 | $245,788 (5.1%) | $294,124 (13.2%) | 0.82 | 314 |
2020-02-01 | $249,900 (2.3%) | $312,352 (15.2%) | 0.82 | 291 |
2020-03-01 | $250,576 (0.1%) | $308,957 (12.5%) | 0.79 | 305 |
2020-04-01 | $261,064 (3.1%) | $320,947 (16.5%) | 0.82 | 330 |
2020-05-01 | $270,000 (5.9%) | $345,684 (22.0%) | 0.82 | 273 |
2020-06-01 | $286,140 (12.2%) | $362,906 (26.9%) | 0.84 | 234 |
2020-07-01 | $280,945 (12.4%) | $324,628 (9.8%) | 0.81 | 227 |
2020-08-01 | $289,220 (17.3%) | $345,568 (17.8%) | 0.83 | 214 |
2020-09-01 | $297,570 (23.3%) | $335,360 (15.9%) | 0.85 | 211 |
2020-10-01 | $276,225 (15.5%) | $328,358 (14.1%) | 0.79 | 212 |
2020-11-01 | $287,500 (21.3%) | $344,011 (22.3%) | 0.84 | 193 |
2020-12-01 | $289,585 (24.0%) | $343,363 (22.8%) | 0.86 | 176 |
2021-01-01 | $284,500 (15.8%) | $344,767 (17.2%) | 0.85 | 155 |
2021-02-01 | $270,250 (8.1%) | $337,715 (8.1%) | 0.79 | 149 |
2021-03-01 | $284,975 (13.7%) | $358,104 (15.9%) | 0.81 | 128 |
2021-04-01 | $299,700 (14.8%) | $385,066 (20.0%) | 0.81 | 104 |
2021-05-01 | $284,950 (5.5%) | $364,931 (5.6%) | 0.76 | 125 |
2021-06-01 | $274,618 (-4.0%) | $386,116 (6.4%) | 0.72 | 128 |
2021-07-01 | $286,000 (1.8%) | $379,752 (17.0%) | 0.75 | 152 |
2021-08-01 | $289,945 (0.3%) | $365,305 (5.7%) | 0.77 | 169 |
2021-09-01 | $292,500 (-1.7%) | $372,031 (10.9%) | 0.78 | 190 |
2021-10-01 | $290,000 (5.0%) | $357,272 (8.8%) | 0.77 | 174 |
2021-11-01 | $290,870 (1.2%) | $350,304 (1.8%) | 0.78 | 190 |
2021-12-01 | $315,130 (8.8%) | $368,412 (7.3%) | 0.85 | 170 |
2022-01-01 | $339,425 (19.3%) | $378,912 (9.9%) | 0.92 | 133 |
2022-02-01 | $323,422 (19.7%) | $380,405 (12.6%) | 0.84 | 104 |
2022-03-01 | $352,878 (23.8%) | $407,994 (13.9%) | 0.88 | 98 |
2022-04-01 | $374,108 (24.8%) | $413,374 (7.4%) | 0.89 | 105 |
2022-05-01 | $365,000 (28.1%) | $396,363 (8.6%) | 0.83 | 125 |
2022-06-01 | $383,500 (39.7%) | $435,294 (12.7%) | 0.85 | 177 |
2022-07-01 | $385,000 (34.6%) | $437,031 (15.1%) | 0.87 | 214 |
2022-08-01 | $362,498 (25.0%) | $383,239 (4.9%) | 0.84 | 241 |
2022-09-01 | $355,070 (21.4%) | $379,938 (2.1%) | 0.83 | 234 |
2022-10-01 | $362,450 (25.0%) | $381,878 (6.9%) | 0.85 | 239 |
2022-11-01 | $367,995 (26.5%) | $385,791 (10.1%) | 0.88 | 284 |
2022-12-01 | $353,470 (12.2%) | $371,379 (0.8%) | 0.87 | 293 |
2023-01-01 | $362,300 (6.7%) | $375,335 (-0.9%) | 0.90 | 298 |
2023-02-01 | $359,975 (11.3%) | $381,682 (0.3%) | 0.87 | 272 |
2023-03-01 | $367,500 (4.1%) | $383,071 (-6.1%) | 0.87 | 244 |
2023-04-01 | $365,000 (-2.4%) | $391,687 (-5.3%) | 0.85 | 260 |
2023-05-01 | $363,585 (-0.4%) | $388,100 (-2.1%) | 0.82 | 275 |
2023-06-01 | $365,500 (-4.7%) | $396,030 (-9.0%) | 0.82 | 296 |
2023-07-01 | $359,900 (-6.5%) | $394,348 (-9.8%) | 0.82 | 296 |
2023-08-01 | $360,481 (-0.6%) | $394,264 (2.9%) | 0.83 | 304 |
2023-09-01 | $359,240 (1.2%) | $383,825 (1.0%) | 0.84 | 343 |
2023-10-01 | $352,535 (-2.7%) | $383,397 (0.4%) | 0.83 | 355 |
2023-11-01 | $355,764 (-3.3%) | $381,399 (-1.1%) | 0.85 | 375 |
2023-12-01 | $344,990 (-2.4%) | $382,328 (3.0%) | 0.84 | 431 |
2024-01-01 | $339,968 (-6.2%) | $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 (-9.8%) | $366,828 (-4.2%) | 0.78 | 335 |
2024-04-01 | $354,473 (-2.9%) | $388,229 (-0.9%) | 0.82 | 340 |
2024-05-01 | $359,468 (-1.1%) | $400,396 (3.2%) | 0.81 | 362 |
2024-06-01 | $364,995 (-0.1%) | $402,883 (1.7%) | 0.82 | 376 |
2024-07-01 | $358,240 (-0.5%) | $393,400 (-0.2%) | 0.82 | 424 |
2024-08-01 | $351,990 (-2.4%) | $396,857 (0.7%) | 0.82 | 486 |
2024-09-01 | $354,248 (-1.4%) | $395,161 (3.0%) | 0.83 | 480 |
2024-10-01 | $354,990 (0.7%) | $387,097 (1.0%) | 0.84 | 522 |
2024-11-01 | $358,000 (0.6%) | $381,205 (-0.1%) | 0.00 | 532 |
Burlington's median listing price comes in at 0% of the national average.
Burlington's average listing price for 2024-11-01 was $381,205, a difference of $-194 (-0.1%) versus the prior year and $-5,892 versus the prior month.
For the 2024-11-01 period, Burlington had 532 MLS listings, a difference of 10 listings (2%) versus the prior month and 157 listings (42%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Burlington (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 105 days | 1,972 sqft |
2018-02-01 | 95 days | 1,924 sqft |
2018-03-01 | 68 days | 1,943 sqft |
2018-04-01 | 63 days | 1,963 sqft |
2018-05-01 | 60 days | 1,956 sqft |
2018-06-01 | 54 days | 1,981 sqft |
2018-07-01 | 70 days | 1,933 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 | 1,936 sqft |
2019-01-01 | 87 days | 2,002 sqft |
2019-02-01 | 91 days | 2,095 sqft |
2019-03-01 | 71 days | 2,133 sqft |
2019-04-01 | 64 days | 2,134 sqft |
2019-05-01 | 43 days | 2,173 sqft |
2019-06-01 | 48 days | 2,193 sqft |
2019-07-01 | 53 days | 2,067 sqft |
2019-08-01 | 51 days | 2,006 sqft |
2019-09-01 | 52 days | 1,964 sqft |
2019-10-01 | 54 days | 1,942 sqft |
2019-11-01 | 48 days | 1,975 sqft |
2019-12-01 | 59 days | 1,926 sqft |
2020-01-01 | 66 days | 1,954 sqft |
2020-02-01 | 54 days | 1,998 sqft |
2020-03-01 | 43 days | 2,020 sqft |
2020-04-01 | 42 days | 2,065 sqft |
2020-05-01 | 58 days | 2,117 sqft |
2020-06-01 | 57 days | 2,210 sqft |
2020-07-01 | 38 days | 2,137 sqft |
2020-08-01 | 40 days | 2,115 sqft |
2020-09-01 | 32 days | 2,155 sqft |
2020-10-01 | 31 days | 2,051 sqft |
2020-11-01 | 41 days | 2,045 sqft |
2020-12-01 | 58 days | 2,075 sqft |
2021-01-01 | 60 days | 1,929 sqft |
2021-02-01 | 29 days | 1,875 sqft |
2021-03-01 | 27 days | 1,934 sqft |
2021-04-01 | 25 days | 1,944 sqft |
2021-05-01 | 16 days | 1,801 sqft |
2021-06-01 | 21 days | 1,874 sqft |
2021-07-01 | 23 days | 1,874 sqft |
2021-08-01 | 21 days | 1,876 sqft |
2021-09-01 | 30 days | 1,948 sqft |
2021-10-01 | 33 days | 1,858 sqft |
2021-11-01 | 28 days | 1,881 sqft |
2021-12-01 | 37 days | 2,002 sqft |
2022-01-01 | 46 days | 2,026 sqft |
2022-02-01 | 37 days | 1,932 sqft |
2022-03-01 | 25 days | 1,997 sqft |
2022-04-01 | 13 days | 2,026 sqft |
2022-05-01 | 19 days | 1,968 sqft |
2022-06-01 | 19 days | 2,121 sqft |
2022-07-01 | 28 days | 2,175 sqft |
2022-08-01 | 30 days | 2,063 sqft |
2022-09-01 | 39 days | 2,038 sqft |
2022-10-01 | 43 days | 2,057 sqft |
2022-11-01 | 45 days | 2,057 sqft |
2022-12-01 | 49 days | 1,946 sqft |
2023-01-01 | 60 days | 2,008 sqft |
2023-02-01 | 56 days | 1,994 sqft |
2023-03-01 | 52 days | 1,985 sqft |
2023-04-01 | 36 days | 2,026 sqft |
2023-05-01 | 39 days | 1,993 sqft |
2023-06-01 | 40 days | 2,047 sqft |
2023-07-01 | 43 days | 1,997 sqft |
2023-08-01 | 45 days | 1,971 sqft |
2023-09-01 | 44 days | 1,930 sqft |
2023-10-01 | 48 days | 1,904 sqft |
2023-11-01 | 50 days | 1,916 sqft |
2023-12-01 | 55 days | 1,892 sqft |
2024-01-01 | 58 days | 1,893 sqft |
2024-02-01 | 60 days | 1,911 sqft |
2024-03-01 | 55 days | 1,812 sqft |
2024-04-01 | 50 days | 1,927 sqft |
2024-05-01 | 42 days | 1,954 sqft |
2024-06-01 | 40 days | 1,925 sqft |
2024-07-01 | 44 days | 1,925 sqft |
2024-08-01 | 47 days | 1,925 sqft |
2024-09-01 | 50 days | 1,898 sqft |
2024-10-01 | 44 days | 1,872 sqft |
2024-11-01 | 0 days | 1,902 sqft |
Burlington's median square footage for active listings during the 2024-11-01 period was 1,902 sqft. One year prior, the average listing was 1,916 sqft.