Danville VA Loan Rates, Closing Costs & Stats

Danville, VA

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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.

    Danville's 39 lenders originated 106 VA loans during 2023. The total origination value was $22,590,000, with an average VA loan value of $213,113.

    Danville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Danville averaged 7.19% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Danville's average VA mortgage closing costs are $4,725.

    The average rate for the prior week (2024-04-12) was 7.12% and one month ago for the week of 2024-03-15, the average rate was 6.78%.

    The average rate one year ago was 6.47%.

    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.

    Danville 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 Danville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 7.01% $3,363
    QUICKEN LOANS, LLC 14 6.01% $9,174
    NAVY FEDERAL CREDIT UNION 6 5.92% $3,438
    Bank of England 4 7.19% $9,046
    FREEDOM MORTGAGE CORPORATION 4 6.88% $7,198
    Alcova Mortgage LLC 4 6.63% $9,321
    NEW DAY FINANCIAL, LLC 4 7.03% $9,217
    MOVEMENT MORTGAGE, LLC 4 6.47% $3,661
    PENNYMAC LOAN SERVICES, LLC 3 5.67% $5,246
    Wells Fargo Bank 2 6.00% $1,481
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.50% $9,634
    BROKER SOLUTIONS, INC. 2 6.00% $5,834
    LOANDEPOT.COM, LLC 2 7.06% $11,294
    The Federal Savings Bank 2 6.19% $8,503
    TIDEWATER MORTGAGE SERVICES, INC. 2 6.00% $11,964
    Truist 2 7.00% $4,571
    USAA Federal Savings Bank 2 5.38% $8,519
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $8,070
    Mr. Cooper ( Nationstar Mortgage ) 1 6.00% $6,698
    NATION ONE MORTGAGE CORPORATION 1 7.50% $773
    Citizens Bank 1 5.88% $3,623
    CARDINAL FINANCIAL 1 6.75% $9,210
    NEWREZ LLC 1 6.75% $7,224
    PANORAMA MORTGAGE GROUP, LLC 1 6.38% $3,742
    Blue Ridge Bank 1 7.13% $11,931
    Barrington Bank & Trust Company, N.A. 1 7.25% $1,976
    RELIANCE FIRST CAPITAL, LLC 1 6.13% $7,398
    Renasant Bank 1 5.75% $9,388
    U.S. Bank 1 5.38% $19,980
    THRIVE MORTGAGE, LLC 1 7.13% $6,348
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $0
    TOP FLITE FINANCIAL, INC. 1 6.63% $7,377
    VILLAGE CAPITAL MORTGAGE 1 5.75% $3,775
    UNITED WHOLESALE MORTGAGE, LLC 1 7.00% $11,230
    HOMESIDE FINANCIAL, LLC 1 7.75% $11,073
    INTERCOASTAL MORTGAGE COMPANY 1 6.88% $7,991
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $3,115
    Mid-Continent Funding, Inc. 1 7.00% $6,641
    F & M BANK CORP. 1 7.25% $18,389

    The top Danville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $3,363, which is $5,811 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Danville VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,363), QUICKEN LOANS, LLC ($9,174), .

    The lowest rate Danville VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.01%), Mortgage Research Center, LLC (7.01%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Danville (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 $115,000 (12.2%) $158,515 (2.8%) 0.00 441
    2018-02-01 $112,500 (6.7%) $157,869 (4.1%) 0.00 421
    2018-03-01 $114,900 (4.6%) $158,247 (3.7%) 0.00 405
    2018-04-01 $119,900 (4.4%) $163,533 (6.1%) 0.00 418
    2018-05-01 $101,900 (-18.4%) $148,564 (-7.5%) 0.00 531
    2018-06-01 $104,988 (-16.0%) $151,128 (-7.6%) 0.00 555
    2018-07-01 $109,900 (-12.4%) $155,730 (-4.3%) 0.00 553
    2018-08-01 $100,450 (-18.9%) $154,472 (-4.1%) 0.00 552
    2018-09-01 $106,000 (-11.6%) $156,539 (-1.7%) 0.00 550
    2018-10-01 $109,450 (-5.6%) $155,112 (-0.6%) 0.00 531
    2018-11-01 $108,250 (-9.7%) $154,682 (-3.7%) 0.00 516
    2018-12-01 $107,500 (-6.4%) $154,261 (-2.4%) 0.00 490
    2019-01-01 $109,900 (-4.4%) $156,272 (-1.4%) 0.00 470
    2019-02-01 $107,950 (-4.0%) $154,783 (-2.0%) 0.00 450
    2019-03-01 $113,550 (-1.2%) $163,998 (3.6%) 0.00 414
    2019-04-01 $124,925 (4.2%) $176,026 (7.6%) 0.00 383
    2019-05-01 $125,000 (22.7%) $179,339 (20.7%) 0.00 380
    2019-06-01 $129,945 (23.8%) $186,067 (23.1%) 0.00 383
    2019-07-01 $134,950 (22.8%) $189,755 (21.9%) 0.00 386
    2019-08-01 $133,727 (33.1%) $190,535 (23.4%) 0.00 383
    2019-09-01 $128,818 (21.5%) $191,608 (22.4%) 0.00 379
    2019-10-01 $125,675 (14.8%) $189,586 (22.2%) 0.00 365
    2019-11-01 $129,000 (19.2%) $189,042 (22.2%) 0.00 357
    2019-12-01 $117,450 (9.3%) $179,179 (16.2%) 0.00 371
    2020-01-01 $119,000 (8.3%) $180,166 (15.3%) 0.00 330
    2020-02-01 $122,500 (13.5%) $179,291 (15.8%) 0.00 326
    2020-03-01 $119,000 (4.8%) $174,759 (6.6%) 0.00 311
    2020-04-01 $115,000 (-7.9%) $171,238 (-2.7%) 0.00 302
    2020-05-01 $127,600 (2.1%) $183,442 (2.3%) 0.00 264
    2020-06-01 $125,375 (-3.5%) $182,338 (-2.0%) 0.00 251
    2020-07-01 $125,450 (-7.0%) $186,622 (-1.7%) 0.00 226
    2020-08-01 $125,900 (-5.9%) $190,033 (-0.3%) 0.00 204
    2020-09-01 $139,075 (8.0%) $201,202 (5.0%) 0.00 181
    2020-10-01 $129,900 (3.4%) $204,421 (7.8%) 0.00 170
    2020-11-01 $148,675 (15.3%) $225,547 (19.3%) 0.00 146
    2020-12-01 $155,750 (32.6%) $226,540 (26.4%) 0.00 136
    2021-01-01 $164,900 (38.6%) $237,535 (31.8%) 0.00 110
    2021-02-01 $157,400 (28.5%) $237,852 (32.7%) 0.00 96
    2021-03-01 $147,175 (23.7%) $233,310 (33.5%) 0.00 88
    2021-04-01 $165,225 (43.7%) $285,378 (66.7%) 0.00 86
    2021-05-01 $179,900 (41.0%) $290,514 (58.4%) 0.00 85
    2021-06-01 $170,675 (36.1%) $294,148 (61.3%) 0.00 93
    2021-07-01 $164,900 (31.5%) $284,762 (52.6%) 0.00 103
    2021-08-01 $167,175 (32.8%) $284,219 (49.6%) 0.00 104
    2021-09-01 $185,000 (33.0%) $290,461 (44.4%) 0.00 112
    2021-10-01 $169,900 (30.8%) $263,055 (28.7%) 0.00 92
    2021-11-01 $166,000 (11.7%) $251,914 (11.7%) 0.00 97
    2021-12-01 $162,450 (4.3%) $255,539 (12.8%) 0.00 91
    2022-01-01 $194,950 (18.2%) $269,047 (13.3%) 0.00 72
    2022-02-01 $176,950 (12.4%) $268,306 (12.8%) 0.00 72
    2022-03-01 $198,950 (35.2%) $271,285 (16.3%) 0.00 88
    2022-04-01 $215,000 (30.1%) $319,143 (11.8%) 0.00 83
    2022-05-01 $199,900 (11.1%) $302,446 (4.1%) 0.00 90
    2022-06-01 $241,150 (41.3%) $325,645 (10.7%) 0.00 98
    2022-07-01 $222,000 (34.6%) $343,782 (20.7%) 0.00 105
    2022-08-01 $224,900 (34.5%) $326,411 (14.8%) 0.00 104
    2022-09-01 $239,000 (29.2%) $334,482 (15.2%) 0.00 101
    2022-10-01 $229,900 (35.3%) $320,247 (21.7%) 0.00 96
    2022-11-01 $196,175 (18.2%) $299,216 (18.8%) 0.00 100
    2022-12-01 $227,500 (40.0%) $265,887 (4.1%) 0.00 87
    2023-01-01 $189,225 (-2.9%) $238,392 (-11.4%) 0.00 95
    2023-02-01 $194,000 (9.6%) $231,701 (-13.6%) 0.00 91
    2023-03-01 $193,450 (-2.8%) $229,861 (-15.3%) 0.00 91
    2023-04-01 $187,450 (-12.8%) $264,778 (-17.0%) 0.00 83
    2023-05-01 $200,000 (0.1%) $283,863 (-6.1%) 0.00 75
    2023-06-01 $252,000 (4.5%) $528,891 (62.4%) 0.00 97
    2023-07-01 $235,000 (5.9%) $288,302 (-16.1%) 0.00 106
    2023-08-01 $214,450 (-4.7%) $267,319 (-18.1%) 0.00 106
    2023-09-01 $227,450 (-4.8%) $386,878 (15.7%) 0.00 137
    2023-10-01 $230,000 (0.0%) $364,120 (13.7%) 0.00 159
    2023-11-01 $210,000 (7.1%) $247,440 (-17.3%) 0.00 175
    2023-12-01 $199,950 (-12.1%) $242,725 (-8.7%) 0.00 182
    2024-01-01 $195,875 (3.5%) $233,037 (-2.3%) 0.00 185
    2024-02-01 $192,225 (-0.9%) $228,302 (-1.5%) 0.00 160
    2024-03-01 $172,500 (-10.8%) $227,580 (-1.0%) 0.00 162
    Danville's median listing price for 2024-03-01 was $172,500, a difference of $-20,950 (-10.8%) versus the prior year and $-19,725 versus the prior month.

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

    Danville's average listing price for 2024-03-01 was $227,580, a difference of $-2,281 (-1.0%) versus the prior year and $-722 versus the prior month.

    For the 2024-03-01 period, Danville had 162 MLS listings, a difference of 2 listings (1%) versus the prior month and 71 listings (78%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Danville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,768 sqft
    2018-03-01 0 days 1,786 sqft
    2018-04-01 0 days 1,800 sqft
    2018-05-01 0 days 1,791 sqft
    2018-06-01 0 days 1,783 sqft
    2018-07-01 0 days 1,801 sqft
    2018-08-01 0 days 1,793 sqft
    2018-09-01 0 days 1,788 sqft
    2018-10-01 0 days 1,802 sqft
    2018-11-01 0 days 1,782 sqft
    2018-12-01 0 days 1,796 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,791 sqft
    2019-03-01 0 days 1,737 sqft
    2019-04-01 0 days 1,721 sqft
    2019-05-01 0 days 1,779 sqft
    2019-06-01 0 days 1,795 sqft
    2019-07-01 0 days 1,814 sqft
    2019-08-01 0 days 1,837 sqft
    2019-09-01 0 days 1,826 sqft
    2019-10-01 0 days 1,818 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,734 sqft
    2020-01-01 0 days 1,740 sqft
    2020-02-01 0 days 1,784 sqft
    2020-03-01 0 days 1,734 sqft
    2020-04-01 0 days 1,690 sqft
    2020-05-01 0 days 1,796 sqft
    2020-06-01 0 days 1,787 sqft
    2020-07-01 0 days 1,774 sqft
    2020-08-01 0 days 1,803 sqft
    2020-09-01 0 days 1,806 sqft
    2020-10-01 0 days 1,894 sqft
    2020-11-01 0 days 1,971 sqft
    2020-12-01 0 days 1,971 sqft
    2021-01-01 0 days 1,954 sqft
    2021-02-01 0 days 1,901 sqft
    2021-03-01 0 days 1,803 sqft
    2021-04-01 0 days 1,843 sqft
    2021-05-01 0 days 1,868 sqft
    2021-06-01 0 days 1,876 sqft
    2021-07-01 0 days 1,826 sqft
    2021-08-01 0 days 1,844 sqft
    2021-09-01 0 days 1,902 sqft
    2021-10-01 0 days 1,811 sqft
    2021-11-01 0 days 1,793 sqft
    2021-12-01 0 days 1,690 sqft
    2022-01-01 0 days 1,734 sqft
    2022-02-01 0 days 1,712 sqft
    2022-03-01 0 days 1,854 sqft
    2022-04-01 0 days 2,019 sqft
    2022-05-01 0 days 1,896 sqft
    2022-06-01 0 days 2,015 sqft
    2022-07-01 0 days 1,891 sqft
    2022-08-01 0 days 1,930 sqft
    2022-09-01 0 days 1,920 sqft
    2022-10-01 0 days 1,902 sqft
    2022-11-01 0 days 1,869 sqft
    2022-12-01 0 days 1,954 sqft
    2023-01-01 0 days 1,882 sqft
    2023-02-01 0 days 1,660 sqft
    2023-03-01 0 days 1,603 sqft
    2023-04-01 0 days 1,622 sqft
    2023-05-01 0 days 1,670 sqft
    2023-06-01 0 days 1,619 sqft
    2023-07-01 0 days 1,701 sqft
    2023-08-01 0 days 1,783 sqft
    2023-09-01 0 days 1,702 sqft
    2023-10-01 0 days 1,751 sqft
    2023-11-01 0 days 1,735 sqft
    2023-12-01 0 days 1,691 sqft
    2024-01-01 0 days 1,605 sqft
    2024-02-01 0 days 1,601 sqft
    2024-03-01 0 days 1,583 sqft
    Danville's median listing age (time on market) for 2024-03-01 was 0 days.

    Danville's median square footage for active listings during the 2024-03-01 period was 1,583 sqft. One year prior, the average listing was 1,603 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.