Burlington VA Loan Rates, Closing Costs & Stats

BURLINGTON-SOUTH BURLINGTON, VT

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 31 lenders originated 123 VA loans during 2023. The total origination value was $44,475,000, with an average VA loan value of $361,585.

Burlington VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Burlington averaged 5.93% for the week of 2024-10-04, compared to the national average (all VA variants) of 5.596% for the same period.

Burlington's average VA mortgage closing costs are $6,564.

The average rate for the prior week (2024-09-27) was 5.56% and one month ago for the week of 2024-08-30, the average rate was 5.68%.

The average rate one year ago was 7.32%.

For refis of the same type during the week of 2024-10-04, the average rate was 5.57%.

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 24 6.87% $9,335
QUICKEN LOANS, LLC 11 6.35% $11,813
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 6.50% $11,188
NEW ENGLAND FEDERAL CREDIT UNION 8 6.50% $9,733
USAA Federal Savings Bank 7 6.59% $8,824
NAVY FEDERAL CREDIT UNION 6 5.48% $6,668
PENNYMAC LOAN SERVICES, LLC 6 6.25% $10,924
NORTHEAST HOME LOAN, LLC 4 6.16% $9,221
UNITED WHOLESALE MORTGAGE, LLC 4 6.12% $5,284
FREEDOM MORTGAGE CORPORATION 4 6.50% $20,960
Mr. Cooper ( Nationstar Mortgage ) 3 5.54% $17,894
CMG MORTGAGE, INC. 3 6.50% $10,288
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.54% $4,011
Paramount Residential Mortgage Group, Inc. 3 5.54% $10,726
PENTAGON FEDERAL CREDIT UNION 3 5.96% $8,865
NBKC BANK 2 6.06% $14,944
RELIANCE FIRST CAPITAL, LLC 2 6.38% $13,409
ACADEMY MORTGAGE CORPORATION 2 7.50% $14,172
DRAPER AND KRAMER MORTGAGE CORP. 1 6.25% $11,442
American Mortgage & Equity Consultants, Inc. 1 7.25% $22,642
Cornerstone First Mortgage, Inc 1 5.75% $5,213
AMERICAN FINANCING CORPORATION 1 6.25% $6,608
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $22,418
BROKER SOLUTIONS, INC. 1 6.75% $11,582
Service Federal Credit Union 1 6.63% $3,479
The Central Trust Bank 1 5.13% $6,254
Union Bank 1 6.25% $4,597
LOANDEPOT.COM, LLC 1 6.50% $13,592
MOVEMENT MORTGAGE, LLC 1 6.75% $3,680
GUARANTEED RATE, INC. 1 7.75% $775
Flagstar Bank, FSB 1 6.50% $10,608

The top Burlington VA lender as defined by loan originations is Mortgage Research Center, LLC, with 24 VA loans originated. Their average total fees are $9,335, which is $2,479 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Burlington VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($9,335), QUICKEN LOANS, LLC ($11,813), .

The lowest rate Burlington VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.35%), Mortgage Research Center, LLC (6.87%), .


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 $299,700 (0.6%) $383,498 (2.5%) 1.11 739
2018-02-01 $299,900 (0.0%) $387,393 (1.2%) 1.09 707
2018-03-01 $299,950 (-4.8%) $386,713 (-1.0%) 1.05 728
2018-04-01 $314,950 (0.1%) $396,415 (3.6%) 1.07 754
2018-05-01 $319,450 (0.0%) $401,608 (2.8%) 1.07 813
2018-06-01 $320,000 (0.0%) $401,100 (1.3%) 1.07 907
2018-07-01 $320,892 (-1.0%) $399,656 (0.9%) 1.07 952
2018-08-01 $317,750 (-0.3%) $394,423 (0.6%) 1.06 992
2018-09-01 $315,000 (0.2%) $402,499 (2.2%) 1.06 975
2018-10-01 $309,900 (2.5%) $399,985 (3.2%) 1.05 961
2018-11-01 $308,500 (2.9%) $395,877 (3.1%) 1.05 908
2018-12-01 $305,000 (1.7%) $389,199 (2.2%) 1.05 807
2019-01-01 $305,000 (1.8%) $379,914 (-0.9%) 1.05 728
2019-02-01 $309,450 (3.2%) $385,842 (-0.4%) 1.05 718
2019-03-01 $314,929 (5.0%) $393,548 (1.8%) 1.03 722
2019-04-01 $319,450 (1.4%) $402,634 (1.6%) 1.01 723
2019-05-01 $320,000 (0.2%) $408,487 (1.7%) 1.00 756
2019-06-01 $324,900 (1.5%) $410,875 (2.4%) 1.02 802
2019-07-01 $325,000 (1.3%) $410,111 (2.6%) 1.02 835
2019-08-01 $326,091 (2.6%) $415,531 (5.4%) 1.03 853
2019-09-01 $327,727 (4.0%) $425,862 (5.8%) 1.05 837
2019-10-01 $329,450 (6.3%) $434,785 (8.7%) 1.06 809
2019-11-01 $329,000 (6.7%) $430,532 (8.8%) 1.08 725
2019-12-01 $323,600 (6.1%) $409,136 (5.1%) 1.08 643
2020-01-01 $324,900 (6.5%) $410,022 (7.9%) 1.09 562
2020-02-01 $325,000 (5.0%) $413,361 (7.1%) 1.06 536
2020-03-01 $339,900 (7.9%) $427,432 (8.6%) 1.07 546
2020-04-01 $349,500 (9.4%) $433,935 (7.8%) 1.09 533
2020-05-01 $350,000 (9.4%) $445,070 (9.0%) 1.06 546
2020-06-01 $377,000 (16.0%) $476,105 (15.9%) 1.11 535
2020-07-01 $377,450 (16.1%) $472,357 (15.2%) 1.09 504
2020-08-01 $369,900 (13.4%) $481,500 (15.9%) 1.06 469
2020-09-01 $372,450 (13.7%) $479,793 (12.7%) 1.07 470
2020-10-01 $392,750 (19.2%) $487,945 (12.2%) 1.13 440
2020-11-01 $393,875 (19.7%) $492,611 (14.4%) 1.15 384
2020-12-01 $398,000 (23.0%) $489,074 (19.5%) 1.18 315
2021-01-01 $399,000 (22.8%) $472,510 (15.2%) 1.19 274
2021-02-01 $397,888 (22.4%) $487,772 (18.0%) 1.16 222
2021-03-01 $422,950 (24.4%) $524,182 (22.6%) 1.20 219
2021-04-01 $419,975 (20.2%) $499,073 (15.0%) 1.14 259
2021-05-01 $419,900 (20.0%) $509,262 (14.4%) 1.12 268
2021-06-01 $427,250 (13.3%) $502,218 (5.5%) 1.12 319
2021-07-01 $420,000 (11.3%) $498,207 (5.5%) 1.11 340
2021-08-01 $429,950 (16.2%) $502,600 (4.4%) 1.15 321
2021-09-01 $424,925 (14.1%) $512,204 (6.8%) 1.13 300
2021-10-01 $424,900 (8.2%) $508,813 (4.3%) 1.13 247
2021-11-01 $401,250 (1.9%) $512,178 (4.0%) 1.07 223
2021-12-01 $421,225 (5.8%) $529,827 (8.3%) 1.14 184
2022-01-01 $430,000 (7.8%) $504,104 (6.7%) 1.16 138
2022-02-01 $451,888 (13.6%) $495,080 (1.5%) 1.18 130
2022-03-01 $459,725 (8.7%) $510,896 (-2.5%) 1.15 137
2022-04-01 $429,900 (2.4%) $495,522 (-0.7%) 1.02 159
2022-05-01 $437,000 (4.1%) $533,471 (4.8%) 1.00 182
2022-06-01 $480,750 (12.5%) $565,683 (12.6%) 1.07 237
2022-07-01 $475,000 (13.1%) $558,955 (12.2%) 1.07 265
2022-08-01 $466,950 (8.6%) $573,833 (14.2%) 1.08 252
2022-09-01 $467,225 (10.0%) $555,807 (8.5%) 1.09 254
2022-10-01 $469,900 (10.6%) $549,457 (8.0%) 1.11 261
2022-11-01 $462,425 (15.3%) $589,776 (15.2%) 1.11 239
2022-12-01 $479,000 (13.7%) $609,726 (15.1%) 1.18 188
2023-01-01 $461,200 (7.3%) $624,516 (23.9%) 1.14 166
2023-02-01 $468,675 (3.7%) $620,194 (25.3%) 1.13 170
2023-03-01 $479,000 (4.2%) $628,909 (23.1%) 1.13 159
2023-04-01 $472,200 (9.8%) $536,822 (8.3%) 1.10 180
2023-05-01 $490,000 (12.1%) $554,491 (3.9%) 1.11 212
2023-06-01 $498,950 (3.8%) $601,383 (6.3%) 1.12 221
2023-07-01 $492,200 (3.6%) $607,856 (8.8%) 1.12 256
2023-08-01 $497,750 (6.6%) $623,350 (8.6%) 1.14 275
2023-09-01 $495,000 (5.9%) $635,538 (14.3%) 1.15 287
2023-10-01 $499,000 (6.2%) $739,230 (34.5%) 1.17 285
2023-11-01 $517,438 (11.9%) $737,738 (25.1%) 1.23 286
2023-12-01 $509,850 (6.4%) $746,266 (22.4%) 1.24 229
2024-01-01 $522,450 (13.3%) $780,416 (25.0%) 1.28 207
2024-02-01 $515,000 (9.9%) $696,461 (12.3%) 1.24 191
2024-03-01 $499,000 (4.2%) $686,988 (9.2%) 1.17 216
2024-04-01 $499,000 (5.7%) $723,645 (34.8%) 1.16 221
2024-05-01 $549,925 (12.2%) $753,484 (35.9%) 1.24 283
2024-06-01 $550,000 (10.2%) $751,295 (24.9%) 1.24 363
2024-07-01 $544,250 (10.6%) $742,521 (22.2%) 1.24 395
2024-08-01 $524,900 (5.5%) $728,387 (16.9%) 1.22 428
2024-09-01 $499,000 (0.8%) $715,776 (12.6%) 0.00 452
Burlington's median listing price for 2024-09-01 was $499,000, a difference of $4,000 (0.8%) versus the prior year and $-25,900 versus the prior month.

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

Burlington's average listing price for 2024-09-01 was $715,776, a difference of $80,238 (12.6%) versus the prior year and $-12,611 versus the prior month.

For the 2024-09-01 period, Burlington had 452 MLS listings, a difference of 24 listings (6%) versus the prior month and 165 listings (57%) 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
2018-01-01 122 days 1,900 sqft
2018-02-01 128 days 1,900 sqft
2018-03-01 111 days 1,904 sqft
2018-04-01 64 days 1,904 sqft
2018-05-01 51 days 1,909 sqft
2018-06-01 50 days 1,918 sqft
2018-07-01 59 days 1,937 sqft
2018-08-01 68 days 1,915 sqft
2018-09-01 72 days 1,922 sqft
2018-10-01 83 days 1,913 sqft
2018-11-01 91 days 1,900 sqft
2018-12-01 106 days 1,873 sqft
2019-01-01 121 days 1,872 sqft
2019-02-01 128 days 1,887 sqft
2019-03-01 107 days 1,895 sqft
2019-04-01 81 days 1,903 sqft
2019-05-01 64 days 1,960 sqft
2019-06-01 48 days 1,922 sqft
2019-07-01 56 days 1,922 sqft
2019-08-01 62 days 1,941 sqft
2019-09-01 69 days 1,970 sqft
2019-10-01 73 days 1,988 sqft
2019-11-01 80 days 1,993 sqft
2019-12-01 99 days 1,930 sqft
2020-01-01 106 days 1,911 sqft
2020-02-01 103 days 1,927 sqft
2020-03-01 70 days 1,933 sqft
2020-04-01 77 days 1,935 sqft
2020-05-01 71 days 1,964 sqft
2020-06-01 49 days 2,008 sqft
2020-07-01 52 days 1,992 sqft
2020-08-01 52 days 2,000 sqft
2020-09-01 46 days 1,979 sqft
2020-10-01 53 days 1,904 sqft
2020-11-01 69 days 1,904 sqft
2020-12-01 86 days 1,894 sqft
2021-01-01 102 days 1,872 sqft
2021-02-01 87 days 1,857 sqft
2021-03-01 33 days 1,880 sqft
2021-04-01 19 days 1,872 sqft
2021-05-01 27 days 1,828 sqft
2021-06-01 21 days 1,857 sqft
2021-07-01 26 days 1,848 sqft
2021-08-01 35 days 1,901 sqft
2021-09-01 40 days 1,854 sqft
2021-10-01 45 days 1,924 sqft
2021-11-01 53 days 1,899 sqft
2021-12-01 65 days 1,968 sqft
2022-01-01 74 days 1,929 sqft
2022-02-01 36 days 1,896 sqft
2022-03-01 14 days 1,933 sqft
2022-04-01 15 days 1,886 sqft
2022-05-01 10 days 1,877 sqft
2022-06-01 16 days 2,019 sqft
2022-07-01 29 days 2,016 sqft
2022-08-01 36 days 2,010 sqft
2022-09-01 34 days 1,943 sqft
2022-10-01 31 days 1,956 sqft
2022-11-01 51 days 1,933 sqft
2022-12-01 73 days 1,971 sqft
2023-01-01 93 days 1,954 sqft
2023-02-01 58 days 1,920 sqft
2023-03-01 46 days 1,922 sqft
2023-04-01 34 days 1,839 sqft
2023-05-01 24 days 1,864 sqft
2023-06-01 24 days 1,872 sqft
2023-07-01 30 days 1,930 sqft
2023-08-01 33 days 1,965 sqft
2023-09-01 37 days 1,954 sqft
2023-10-01 37 days 1,957 sqft
2023-11-01 49 days 1,948 sqft
2023-12-01 67 days 1,941 sqft
2024-01-01 74 days 2,030 sqft
2024-02-01 55 days 2,101 sqft
2024-03-01 39 days 1,959 sqft
2024-04-01 29 days 1,895 sqft
2024-05-01 25 days 1,928 sqft
2024-06-01 26 days 1,971 sqft
2024-07-01 40 days 1,967 sqft
2024-08-01 41 days 1,904 sqft
2024-09-01 0 days 1,866 sqft
Burlington's median listing age (time on market) for 2024-09-01 was 0 days. This is -100% shorter than the same period one year ago.

Burlington's median square footage for active listings during the 2024-09-01 period was 1,866 sqft. One year prior, the average listing was 1,954 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.