Danville VA Loan Rates, Closing Costs & Stats

Danville, VA

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 6.79% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.61% and one month ago for the week of 2024-06-07, the average rate was 6.52%.

The average rate one year ago was 7.1%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.36%.

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
2024-04-01 $190,112 (1.4%) $263,321 (-0.6%) 0.00 161
2024-05-01 $215,950 (8.0%) $261,169 (-8.0%) 0.00 156
2024-06-01 $222,250 (-11.8%) $259,541 (-50.9%) 0.00 171
Danville's median listing price for 2024-06-01 was $222,250, a difference of $-29,750 (-11.8%) versus the prior year and $6,300 versus the prior month.

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

Danville's average listing price for 2024-06-01 was $259,541, a difference of $-269,350 (-50.9%) versus the prior year and $-1,628 versus the prior month.

For the 2024-06-01 period, Danville had 171 MLS listings, a difference of 15 listings (10%) versus the prior month and 74 listings (76%) 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
2024-04-01 0 days 1,574 sqft
2024-05-01 0 days 1,551 sqft
2024-06-01 0 days 1,591 sqft
Danville's median listing age (time on market) for 2024-06-01 was 0 days.

Danville's median square footage for active listings during the 2024-06-01 period was 1,591 sqft. One year prior, the average listing was 1,619 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.