Dover VA Loan Rates, Closing Costs & Stats

DOVER, DE

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.

Dover's 80 lenders originated 614 VA loans during 2023. The total origination value was $213,480,000, with an average VA loan value of $347,687.

Dover VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Dover averaged 6.58% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

Dover's average VA mortgage closing costs are $7,249.

The average rate for the prior week (2024-04-05) was 6.53% and one month ago for the week of 2024-03-08, the average rate was 6.26%.

The average rate one year ago was 5.86%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.44%.

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

Dover 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 Dover level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 56 5.37% $11,412
Mortgage Research Center, LLC 54 6.75% $9,187
NFM, INC. 46 6.39% $12,990
QUICKEN LOANS, LLC 24 6.42% $12,298
NAVY FEDERAL CREDIT UNION 21 5.68% $8,671
PIKE CREEK MORTGAGE SERVICES, INC. 20 6.65% $14,380
CMG MORTGAGE, INC. 19 6.21% $14,300
Keystone Funding, Inc. 17 6.40% $12,882
FREEDOM MORTGAGE CORPORATION 16 6.56% $17,717
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.58% $10,670
MOVEMENT MORTGAGE, LLC 14 6.27% $11,815
UNITED WHOLESALE MORTGAGE, LLC 13 6.46% $9,689
NVR Mortgage Finance, Inc. 13 5.86% $3,826
NEWREZ LLC 12 6.41% $14,634
Ixonia Bank 12 6.52% $10,078
The Federal Savings Bank 12 6.31% $17,956
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 12 6.63% $10,572
Equity Prime Mortgage LLC 12 6.05% $16,623
Meridian Bank Corporation 10 6.85% $14,825
PENTAGON FEDERAL CREDIT UNION 10 5.36% $10,539
PENNYMAC LOAN SERVICES, LLC 9 5.78% $14,389
NEW DAY FINANCIAL, LLC 9 7.36% $14,667
PRIMARY RESIDENTIAL MORTGAGE, INC. 9 6.74% $12,194
CROSSCOUNTRY MORTGAGE, LLC 9 7.36% $9,382
LOANDEPOT.COM, LLC 8 5.98% $13,472
Prosperity Home Mortgage, LLC 8 6.36% $7,951
USAA Federal Savings Bank 8 6.14% $14,185
NBKC BANK 8 5.75% $10,103
GUILD MORTGAGE COMPANY 8 6.27% $12,440
EAGLE HOME MORTGAGE, LLC 6 6.21% $9,621
CARDINAL FINANCIAL 6 6.92% $17,458
TIDEWATER MORTGAGE SERVICES, INC. 5 5.95% $10,658
Plains Commerce Bank 5 5.95% $12,355
Northpointe Bank 4 6.38% $3,923
EMM LOANS LLC 4 5.75% $15,308
Nations Lending Corporation 4 6.31% $9,882
BROKER SOLUTIONS, INC. 3 6.79% $6,069
CALIBER HOME LOANS, INC. 3 6.17% $11,458
HOMESIDE FINANCIAL, LLC 3 6.00% $7,332
Magnolia Bank 3 6.50% $14,787
Truist 3 6.19% $4,069
VILLAGE CAPITAL MORTGAGE 3 6.42% $7,899
FIRST HOME MORTGAGE CORPORATION 2 6.38% $15,661
PLAZA HOME MORTGAGE, INC. 2 6.75% $21,988
Mr. Cooper ( Nationstar Mortgage ) 2 5.88% $16,205
Barrington Bank & Trust Company, N.A. 2 7.25% $10,662
AMERISAVE MORTGAGE CORPORATION 2 5.88% $19,311
GUARANTEED RATE AFFINITY, LLC 2 7.31% $14,457
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.06% $15,415
Armed Forces Bank 2 5.75% $7,702
LAKEVIEW LOAN SERVICING, LLC 2 5.50% $19,118
DRAPER AND KRAMER MORTGAGE CORP. 2 6.88% $11,357
Wells Fargo Bank 2 5.44% $5,012
NORWICH COMMERCIAL GROUP, INC. 1 7.13% $6,720
Paramount Residential Mortgage Group, Inc. 1 6.63% $8,582
CONTOUR MORTGAGE CORPORATION 1 5.75% $15,857
ALLIED MORTGAGE GROUP, INC. 1 6.13% $10,259
MDE Home Loans, LLC 1 8.00% $2,245
BAY EQUITY LLC 1 6.75% $8,405
Presidential Bank, FSB 1 5.63% $12,036
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $600
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $11,994
Residential Mortgage Solutions, Inc. 1 6.75% $9,670
Sandy Spring Bank 1 6.50% $27,968
SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $3,544
Ameris Bank 1 7.13% $18,179
Waterstone Mortgage Corporation 1 6.13% $13,715
AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $4,440
HOMESTEAD FUNDING CORP. 1 7.00% $5,919
BAYSHORE MORTGAGE FUNDING, LLC 1 7.00% $12,628
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.38% $15,215
GUARANTEED RATE, INC. 1 7.25% $8,077
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $132
NATION ONE MORTGAGE CORPORATION 1 8.25% $13,446
GSF Mortgage Corporation 1 7.13% $18,062
Flagstar Bank, FSB 1 6.88% $4,674
First Federal Bank 1 5.88% $4,973
Evolve Bank & Trust 1 8.25% $6,813
EVERETT FINANCIAL, INC. 1 6.38% $7,799
EMBRACE HOME LOANS, INC. 1 5.75% $9,230

The top Dover VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 56 VA loans originated. Their average total fees are $11,412, which is $2,225 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Dover VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. ($3,826), NAVY FEDERAL CREDIT UNION ($8,671), Mortgage Research Center, LLC ($9,187), UNITED WHOLESALE MORTGAGE, LLC ($9,689) and Ixonia Bank ($10,078).

The lowest rate Dover VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.36%), DHI MORTGAGE COMPANY, LTD. (5.37%), NAVY FEDERAL CREDIT UNION (5.68%), NVR Mortgage Finance, Inc. (5.86%) and Equity Prime Mortgage LLC (6.05%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Dover (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 $241,425 (2.7%) $247,716 (3.8%) 0.90 837
2018-02-01 $244,700 (3.9%) $251,395 (6.0%) 0.89 811
2018-03-01 $249,943 (4.2%) $255,908 (6.0%) 0.88 804
2018-04-01 $252,450 (3.4%) $254,309 (2.8%) 0.86 857
2018-05-01 $259,950 (6.2%) $263,966 (6.5%) 0.87 857
2018-06-01 $259,900 (6.7%) $261,975 (5.9%) 0.87 937
2018-07-01 $262,975 (7.9%) $264,502 (6.5%) 0.88 956
2018-08-01 $259,948 (6.1%) $263,072 (4.5%) 0.87 970
2018-09-01 $259,900 (6.3%) $261,929 (4.9%) 0.87 948
2018-10-01 $259,900 (7.9%) $262,898 (6.1%) 0.88 957
2018-11-01 $263,650 (9.4%) $269,053 (8.4%) 0.89 916
2018-12-01 $260,000 (8.3%) $268,827 (8.0%) 0.90 808
2019-01-01 $263,050 (9.0%) $270,271 (9.1%) 0.91 727
2019-02-01 $262,945 (7.5%) $272,098 (8.2%) 0.89 697
2019-03-01 $264,851 (6.0%) $276,112 (7.9%) 0.87 719
2019-04-01 $267,161 (5.8%) $280,533 (10.3%) 0.85 737
2019-05-01 $271,623 (4.5%) $283,833 (7.5%) 0.85 743
2019-06-01 $270,388 (4.0%) $285,474 (9.0%) 0.85 740
2019-07-01 $269,938 (2.7%) $288,186 (9.0%) 0.85 744
2019-08-01 $270,745 (4.2%) $285,245 (8.4%) 0.86 737
2019-09-01 $272,014 (4.7%) $280,855 (7.2%) 0.87 714
2019-10-01 $272,859 (5.0%) $277,929 (5.7%) 0.88 693
2019-11-01 $269,900 (2.4%) $271,946 (1.1%) 0.88 678
2019-12-01 $269,675 (3.7%) $270,796 (0.7%) 0.90 630
2020-01-01 $273,400 (3.9%) $275,941 (2.1%) 0.91 589
2020-02-01 $274,900 (4.6%) $273,572 (0.5%) 0.90 566
2020-03-01 $277,900 (4.9%) $277,387 (0.5%) 0.87 546
2020-04-01 $279,445 (4.6%) $282,164 (0.6%) 0.88 508
2020-05-01 $277,500 (2.2%) $282,236 (-0.6%) 0.84 496
2020-06-01 $284,823 (5.3%) $288,246 (1.0%) 0.84 463
2020-07-01 $284,900 (5.5%) $292,629 (1.5%) 0.83 475
2020-08-01 $295,000 (9.0%) $301,399 (5.7%) 0.85 420
2020-09-01 $298,950 (9.9%) $308,329 (9.8%) 0.86 381
2020-10-01 $299,900 (9.9%) $306,190 (10.2%) 0.86 375
2020-11-01 $305,750 (13.3%) $314,441 (15.6%) 0.89 353
2020-12-01 $307,900 (14.2%) $313,074 (15.6%) 0.92 330
2021-01-01 $314,900 (15.2%) $322,801 (17.0%) 0.94 231
2021-02-01 $318,663 (15.9%) $327,468 (19.7%) 0.93 232
2021-03-01 $332,975 (19.8%) $346,952 (25.1%) 0.94 200
2021-04-01 $349,950 (25.2%) $360,630 (27.8%) 0.95 219
2021-05-01 $342,450 (23.4%) $353,452 (25.2%) 0.91 195
2021-06-01 $360,549 (26.6%) $370,707 (28.6%) 0.95 254
2021-07-01 $360,000 (26.4%) $373,212 (27.5%) 0.95 273
2021-08-01 $371,900 (26.1%) $401,702 (33.3%) 0.99 301
2021-09-01 $367,675 (23.0%) $397,364 (28.9%) 0.98 304
2021-10-01 $367,900 (22.7%) $391,998 (28.0%) 0.98 307
2021-11-01 $355,250 (16.2%) $394,882 (25.6%) 0.95 301
2021-12-01 $366,950 (19.2%) $406,457 (29.8%) 0.99 277
2022-01-01 $371,216 (17.9%) $418,314 (29.6%) 1.00 256
2022-02-01 $396,998 (24.6%) $438,008 (33.8%) 1.03 240
2022-03-01 $415,173 (24.7%) $452,559 (30.4%) 1.04 218
2022-04-01 $399,900 (14.3%) $446,726 (23.9%) 0.95 220
2022-05-01 $398,572 (16.4%) $432,333 (22.3%) 0.91 295
2022-06-01 $399,925 (10.9%) $427,203 (15.2%) 0.89 307
2022-07-01 $400,000 (11.1%) $419,051 (12.3%) 0.90 345
2022-08-01 $395,000 (6.2%) $415,987 (3.6%) 0.91 372
2022-09-01 $390,000 (6.1%) $414,895 (4.4%) 0.91 355
2022-10-01 $393,900 (7.1%) $415,506 (6.0%) 0.93 352
2022-11-01 $381,250 (7.3%) $402,505 (1.9%) 0.92 397
2022-12-01 $385,000 (4.9%) $404,352 (-0.5%) 0.95 356
2023-01-01 $399,850 (7.7%) $408,780 (-2.3%) 0.99 334
2023-02-01 $397,225 (0.1%) $406,563 (-7.2%) 0.96 328
2023-03-01 $397,450 (-4.3%) $410,490 (-9.3%) 0.94 299
2023-04-01 $407,500 (1.9%) $419,820 (-6.0%) 0.95 281
2023-05-01 $417,225 (4.7%) $428,358 (-0.9%) 0.95 298
2023-06-01 $418,200 (4.6%) $432,345 (1.2%) 0.94 308
2023-07-01 $407,077 (1.8%) $428,567 (2.3%) 0.93 322
2023-08-01 $417,769 (5.8%) $438,654 (5.5%) 0.96 315
2023-09-01 $415,000 (6.4%) $433,127 (4.4%) 0.97 351
2023-10-01 $417,450 (6.0%) $438,421 (5.5%) 0.98 381
2023-11-01 $415,000 (8.9%) $441,807 (9.8%) 0.99 383
2023-12-01 $409,250 (6.3%) $443,711 (9.7%) 1.00 385
2024-01-01 $412,250 (3.1%) $432,711 (5.9%) 1.01 355
2024-02-01 $417,875 (5.2%) $437,181 (7.5%) 1.01 364
2024-03-01 $421,450 (6.0%) $442,171 (7.7%) 0.99 356
Dover's median listing price for 2024-03-01 was $421,450, a difference of $24,000 (6.0%) versus the prior year and $3,575 versus the prior month.

Dover's median listing price comes in at 99% of the national average.

Dover's average listing price for 2024-03-01 was $442,171, a difference of $31,681 (7.7%) versus the prior year and $4,990 versus the prior month.

For the 2024-03-01 period, Dover had 356 MLS listings, a difference of -8 listings (-2%) versus the prior month and 57 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Dover (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 96 days 1,889 sqft
2018-02-01 88 days 1,884 sqft
2018-03-01 67 days 1,914 sqft
2018-04-01 63 days 1,908 sqft
2018-05-01 61 days 1,998 sqft
2018-06-01 64 days 2,001 sqft
2018-07-01 66 days 2,011 sqft
2018-08-01 69 days 1,987 sqft
2018-09-01 75 days 1,958 sqft
2018-10-01 77 days 1,939 sqft
2018-11-01 82 days 1,936 sqft
2018-12-01 95 days 1,904 sqft
2019-01-01 97 days 1,892 sqft
2019-02-01 102 days 1,910 sqft
2019-03-01 85 days 1,960 sqft
2019-04-01 65 days 2,003 sqft
2019-05-01 59 days 1,961 sqft
2019-06-01 64 days 1,954 sqft
2019-07-01 67 days 1,957 sqft
2019-08-01 68 days 1,946 sqft
2019-09-01 68 days 1,948 sqft
2019-10-01 70 days 1,950 sqft
2019-11-01 74 days 1,920 sqft
2019-12-01 84 days 1,936 sqft
2020-01-01 82 days 1,917 sqft
2020-02-01 64 days 1,903 sqft
2020-03-01 52 days 1,911 sqft
2020-04-01 59 days 1,947 sqft
2020-05-01 60 days 1,960 sqft
2020-06-01 48 days 1,970 sqft
2020-07-01 38 days 2,018 sqft
2020-08-01 41 days 2,029 sqft
2020-09-01 53 days 1,960 sqft
2020-10-01 54 days 1,962 sqft
2020-11-01 51 days 1,980 sqft
2020-12-01 55 days 2,023 sqft
2021-01-01 63 days 2,002 sqft
2021-02-01 43 days 2,037 sqft
2021-03-01 48 days 2,019 sqft
2021-04-01 42 days 2,189 sqft
2021-05-01 34 days 1,992 sqft
2021-06-01 38 days 2,177 sqft
2021-07-01 36 days 2,139 sqft
2021-08-01 25 days 2,194 sqft
2021-09-01 29 days 2,131 sqft
2021-10-01 36 days 2,117 sqft
2021-11-01 45 days 2,068 sqft
2021-12-01 53 days 2,088 sqft
2022-01-01 60 days 2,149 sqft
2022-02-01 49 days 2,195 sqft
2022-03-01 31 days 2,217 sqft
2022-04-01 35 days 2,200 sqft
2022-05-01 31 days 2,076 sqft
2022-06-01 38 days 2,138 sqft
2022-07-01 37 days 2,180 sqft
2022-08-01 36 days 2,115 sqft
2022-09-01 50 days 2,098 sqft
2022-10-01 52 days 2,011 sqft
2022-11-01 43 days 1,988 sqft
2022-12-01 57 days 2,001 sqft
2023-01-01 63 days 2,040 sqft
2023-02-01 50 days 1,994 sqft
2023-03-01 50 days 2,011 sqft
2023-04-01 40 days 2,010 sqft
2023-05-01 32 days 2,014 sqft
2023-06-01 38 days 2,044 sqft
2023-07-01 43 days 2,000 sqft
2023-08-01 50 days 2,046 sqft
2023-09-01 45 days 2,026 sqft
2023-10-01 49 days 2,067 sqft
2023-11-01 51 days 2,021 sqft
2023-12-01 58 days 2,000 sqft
2024-01-01 68 days 2,003 sqft
2024-02-01 64 days 2,083 sqft
2024-03-01 51 days 2,102 sqft
Dover's median listing age (time on market) for 2024-03-01 was 51 days. This is 2% longer than the same period one year ago.

Dover's median square footage for active listings during the 2024-03-01 period was 2,102 sqft. One year prior, the average listing was 2,011 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.