Durango VA Loan Rates, Closing Costs & Stats

Durango, CO

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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.

    Durango's 22 lenders originated 40 VA loans during 2023. The total origination value was $21,970,000, with an average VA loan value of $549,250.

    Durango VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Durango averaged 7.06% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Durango's average VA mortgage closing costs are $6,794.

    The average rate for the prior week (2024-04-12) was 6.79% and one month ago for the week of 2024-03-15, the average rate was 6.75%.

    The average rate one year ago was 6.54%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

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

    Durango 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 Durango level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 7 6.48% $11,461
    QUICKEN LOANS, LLC 5 6.34% $14,490
    Mortgage Research Center, LLC 4 6.72% $6,778
    NAVY FEDERAL CREDIT UNION 3 5.96% $15,100
    Flanagan State Bank 2 6.31% $8,477
    USAA Federal Savings Bank 2 5.56% $16,491
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.50% $18,157
    INFINITY EQUITY GROUP, INC. 1 6.63% $4,375
    NEW DAY FINANCIAL, LLC 1 6.99% $11,914
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $32,847
    Prosperity Home Mortgage, LLC 1 6.49% $4,071
    The Central Trust Bank 1 6.00% $3,394
    The Federal Savings Bank 1 5.88% $18,406
    United Fidelity Funding Corp. 1 7.63% $20,078
    American Bank of Commerce 1 6.75% $11,206
    Wells Fargo Bank 1 5.63% $2,769
    Bank of Colorado 1 5.75% $1,537
    CARDINAL FINANCIAL 1 7.25% $19,763
    Century Mortgage Company DBA Century Lending Company 1 6.63% $18,583
    CONTOUR MORTGAGE CORPORATION 1 5.63% $9,509
    CORNERSTONE HOME LENDING, INC. 1 7.25% $6,120
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,329

    The top Durango VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 7 VA loans originated. Their average total fees are $11,461, which is $3,029 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Durango VA lenders (with over 10 loans originated) are .

    The lowest rate Durango VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Durango (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 $525,750 (9.9%) $765,556 (5.8%) 0.00 474
    2018-02-01 $547,750 (17.9%) $773,418 (8.7%) 0.00 461
    2018-03-01 $549,000 (18.7%) $811,301 (15.9%) 0.00 496
    2018-04-01 $554,500 (16.7%) $867,279 (10.0%) 0.00 538
    2018-05-01 $549,000 (8.3%) $846,563 (4.5%) 0.00 589
    2018-06-01 $549,900 (8.6%) $825,208 (4.2%) 0.00 658
    2018-07-01 $549,000 (8.2%) $792,534 (0.6%) 0.00 695
    2018-08-01 $515,250 (0.3%) $786,210 (0.2%) 0.00 718
    2018-09-01 $522,900 (4.7%) $798,870 (2.3%) 0.00 705
    2018-10-01 $524,725 (-4.5%) $786,638 (-4.4%) 0.00 651
    2018-11-01 $520,000 (-6.3%) $793,756 (-4.6%) 0.00 618
    2018-12-01 $524,400 (-4.6%) $817,748 (-1.7%) 0.00 546
    2019-01-01 $522,450 (-0.6%) $765,775 (0.0%) 0.00 476
    2019-02-01 $519,925 (-5.1%) $694,573 (-10.2%) 0.00 465
    2019-03-01 $522,043 (-4.9%) $732,005 (-9.8%) 0.00 475
    2019-04-01 $524,950 (-5.3%) $778,795 (-10.2%) 0.00 496
    2019-05-01 $542,450 (-1.2%) $803,565 (-5.1%) 0.00 626
    2019-06-01 $550,000 (0.0%) $812,983 (-1.5%) 0.00 690
    2019-07-01 $549,000 (0.0%) $809,662 (2.2%) 0.00 734
    2019-08-01 $553,636 (7.5%) $814,948 (3.7%) 0.00 735
    2019-09-01 $560,591 (7.2%) $834,436 (4.5%) 0.00 724
    2019-10-01 $559,477 (6.6%) $845,885 (7.5%) 0.00 709
    2019-11-01 $550,000 (5.8%) $848,269 (6.9%) 0.00 631
    2019-12-01 $549,663 (4.8%) $858,521 (5.0%) 0.00 585
    2020-01-01 $538,000 (3.0%) $817,002 (6.7%) 0.00 512
    2020-02-01 $535,000 (2.9%) $804,904 (15.9%) 0.00 497
    2020-03-01 $549,000 (5.2%) $824,449 (12.6%) 0.00 499
    2020-04-01 $559,000 (6.5%) $851,361 (9.3%) 0.00 452
    2020-05-01 $549,900 (1.4%) $849,630 (5.7%) 0.00 496
    2020-06-01 $580,500 (5.6%) $882,649 (8.6%) 0.00 520
    2020-07-01 $591,250 (7.7%) $868,309 (7.2%) 0.00 489
    2020-08-01 $599,875 (8.4%) $870,700 (6.8%) 0.00 430
    2020-09-01 $643,000 (14.7%) $946,867 (13.5%) 0.00 335
    2020-10-01 $659,900 (18.0%) $1,054,980 (24.7%) 0.00 291
    2020-11-01 $678,663 (23.4%) $1,153,846 (36.0%) 0.00 246
    2020-12-01 $657,475 (19.6%) $1,158,170 (34.9%) 0.00 204
    2021-01-01 $689,450 (28.2%) $1,242,280 (52.1%) 0.00 163
    2021-02-01 $730,000 (36.5%) $1,372,113 (70.5%) 0.00 138
    2021-03-01 $777,000 (41.5%) $1,592,000 (93.1%) 0.00 136
    2021-04-01 $838,000 (49.9%) $1,722,341 (102.3%) 0.00 133
    2021-05-01 $899,000 (63.5%) $1,733,980 (104.1%) 0.00 147
    2021-06-01 $972,000 (67.4%) $1,763,022 (99.7%) 0.00 159
    2021-07-01 $875,000 (48.0%) $1,647,970 (89.8%) 0.00 185
    2021-08-01 $838,750 (39.8%) $1,641,197 (88.5%) 0.00 190
    2021-09-01 $866,250 (34.7%) $1,642,790 (73.5%) 0.00 181
    2021-10-01 $925,000 (40.2%) $1,826,920 (73.2%) 0.00 150
    2021-11-01 $925,000 (36.3%) $1,825,436 (58.2%) 0.00 135
    2021-12-01 $943,250 (43.5%) $1,973,489 (70.4%) 0.00 117
    2022-01-01 $896,500 (30.0%) $1,964,623 (58.2%) 0.00 101
    2022-02-01 $844,500 (15.7%) $1,825,985 (33.1%) 0.00 104
    2022-03-01 $787,500 (1.4%) $1,845,443 (15.9%) 0.00 102
    2022-04-01 $762,500 (-9.0%) $1,827,547 (6.1%) 0.00 115
    2022-05-01 $776,000 (-13.7%) $1,751,263 (1.0%) 0.00 169
    2022-06-01 $895,000 (-7.9%) $1,755,726 (-0.4%) 0.00 219
    2022-07-01 $875,000 (0.0%) $1,588,381 (-3.6%) 0.00 262
    2022-08-01 $874,000 (4.2%) $1,551,404 (-5.5%) 0.00 268
    2022-09-01 $874,500 (1.0%) $1,596,801 (-2.8%) 0.00 262
    2022-10-01 $890,000 (-3.8%) $1,668,017 (-8.7%) 0.00 259
    2022-11-01 $849,500 (-8.2%) $1,609,945 (-11.8%) 0.00 236
    2022-12-01 $799,000 (-15.3%) $1,510,946 (-23.4%) 0.00 208
    2023-01-01 $834,725 (-6.9%) $1,649,974 (-16.0%) 0.00 177
    2023-02-01 $849,250 (0.6%) $1,757,734 (-3.7%) 0.00 160
    2023-03-01 $867,000 (10.1%) $1,806,928 (-2.1%) 0.00 146
    2023-04-01 $889,453 (16.7%) $1,809,456 (-1.0%) 0.00 151
    2023-05-01 $890,453 (14.8%) $1,686,845 (-3.7%) 0.00 188
    2023-06-01 $893,226 (-0.2%) $1,710,006 (-2.6%) 0.00 233
    2023-07-01 $899,999 (2.9%) $1,678,473 (5.7%) 0.00 269
    2023-08-01 $886,976 (1.5%) $1,619,361 (4.4%) 0.00 283
    2023-09-01 $893,905 (2.2%) $1,677,772 (5.1%) 0.00 274
    2023-10-01 $896,453 (0.7%) $1,691,184 (1.4%) 0.00 278
    2023-11-01 $884,476 (4.1%) $1,654,176 (2.8%) 0.00 264
    2023-12-01 $869,000 (8.8%) $1,672,912 (10.7%) 0.00 225
    2024-01-01 $854,500 (2.4%) $1,739,148 (5.4%) 0.00 199
    2024-02-01 $819,450 (-3.5%) $1,722,984 (-2.0%) 0.00 194
    2024-03-01 $839,000 (-3.2%) $1,666,901 (-7.8%) 0.00 198
    Durango's median listing price for 2024-03-01 was $839,000, a difference of $-28,000 (-3.2%) versus the prior year and $19,550 versus the prior month.

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

    Durango's average listing price for 2024-03-01 was $1,666,901, a difference of $-140,027 (-7.8%) versus the prior year and $-56,083 versus the prior month.

    For the 2024-03-01 period, Durango had 198 MLS listings, a difference of 4 listings (2%) versus the prior month and 52 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Durango (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,126 sqft
    2018-02-01 0 days 2,110 sqft
    2018-03-01 0 days 2,110 sqft
    2018-04-01 0 days 2,218 sqft
    2018-05-01 0 days 2,226 sqft
    2018-06-01 0 days 2,224 sqft
    2018-07-01 0 days 2,188 sqft
    2018-08-01 0 days 2,101 sqft
    2018-09-01 0 days 2,124 sqft
    2018-10-01 0 days 2,109 sqft
    2018-11-01 0 days 2,108 sqft
    2018-12-01 0 days 2,101 sqft
    2019-01-01 0 days 2,028 sqft
    2019-02-01 0 days 1,996 sqft
    2019-03-01 0 days 2,005 sqft
    2019-04-01 0 days 2,043 sqft
    2019-05-01 0 days 2,112 sqft
    2019-06-01 0 days 2,178 sqft
    2019-07-01 0 days 2,146 sqft
    2019-08-01 0 days 2,156 sqft
    2019-09-01 0 days 2,167 sqft
    2019-10-01 0 days 2,170 sqft
    2019-11-01 0 days 2,159 sqft
    2019-12-01 0 days 2,061 sqft
    2020-01-01 0 days 2,006 sqft
    2020-02-01 0 days 2,004 sqft
    2020-03-01 0 days 2,019 sqft
    2020-04-01 0 days 2,067 sqft
    2020-05-01 0 days 2,034 sqft
    2020-06-01 0 days 2,136 sqft
    2020-07-01 0 days 2,157 sqft
    2020-08-01 0 days 2,175 sqft
    2020-09-01 0 days 2,217 sqft
    2020-10-01 0 days 2,262 sqft
    2020-11-01 0 days 2,316 sqft
    2020-12-01 0 days 2,237 sqft
    2021-01-01 0 days 2,262 sqft
    2021-02-01 0 days 2,306 sqft
    2021-03-01 0 days 2,423 sqft
    2021-04-01 0 days 2,599 sqft
    2021-05-01 0 days 2,708 sqft
    2021-06-01 0 days 2,703 sqft
    2021-07-01 0 days 2,589 sqft
    2021-08-01 0 days 2,570 sqft
    2021-09-01 0 days 2,642 sqft
    2021-10-01 0 days 2,803 sqft
    2021-11-01 0 days 2,583 sqft
    2021-12-01 0 days 2,798 sqft
    2022-01-01 0 days 2,483 sqft
    2022-02-01 0 days 2,194 sqft
    2022-03-01 0 days 2,174 sqft
    2022-04-01 0 days 2,236 sqft
    2022-05-01 0 days 2,180 sqft
    2022-06-01 0 days 2,375 sqft
    2022-07-01 0 days 2,318 sqft
    2022-08-01 0 days 2,255 sqft
    2022-09-01 0 days 2,267 sqft
    2022-10-01 0 days 2,347 sqft
    2022-11-01 0 days 2,325 sqft
    2022-12-01 0 days 2,178 sqft
    2023-01-01 0 days 2,093 sqft
    2023-02-01 0 days 2,129 sqft
    2023-03-01 0 days 2,268 sqft
    2023-04-01 0 days 2,220 sqft
    2023-05-01 0 days 2,191 sqft
    2023-06-01 0 days 2,154 sqft
    2023-07-01 0 days 2,207 sqft
    2023-08-01 0 days 2,193 sqft
    2023-09-01 0 days 2,181 sqft
    2023-10-01 0 days 2,196 sqft
    2023-11-01 0 days 2,076 sqft
    2023-12-01 0 days 2,048 sqft
    2024-01-01 0 days 1,988 sqft
    2024-02-01 0 days 1,950 sqft
    2024-03-01 0 days 1,977 sqft
    Durango's median listing age (time on market) for 2024-03-01 was 0 days.

    Durango's median square footage for active listings during the 2024-03-01 period was 1,977 sqft. One year prior, the average listing was 2,268 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.