Durham VA Loan Rates, Closing Costs & Stats

DURHAM-CHAPEL HILL, NC

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.

Durham's 108 lenders originated 514 VA loans during 2023. The total origination value was $195,680,000, with an average VA loan value of $380,700.

Durham VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Durham averaged 6.73% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Durham's average VA mortgage closing costs are $6,156.

The average rate for the prior week (2024-05-17) was 6.45% and one month ago for the week of 2024-04-19, the average rate was 6.52%.

The average rate one year ago was 6.29%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.49%.

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

Durham 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 Durham level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 69 6.69% $7,681
QUICKEN LOANS, LLC 32 6.06% $14,230
NAVY FEDERAL CREDIT UNION 30 5.70% $6,239
UNITED WHOLESALE MORTGAGE, LLC 29 6.15% $14,546
LOANDEPOT.COM, LLC 24 6.11% $8,629
FREEDOM MORTGAGE CORPORATION 16 6.52% $10,247
USAA Federal Savings Bank 14 6.38% $8,404
MOVEMENT MORTGAGE, LLC 13 6.34% $8,470
PENNYMAC LOAN SERVICES, LLC 12 5.70% $14,181
Mr. Cooper ( Nationstar Mortgage ) 8 5.61% $21,824
Truist 7 6.00% $10,323
INTERCOASTAL MORTGAGE COMPANY 7 6.63% $11,098
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.65% $3,101
NEW DAY FINANCIAL, LLC 6 7.29% $16,402
Mid-Continent Funding, Inc. 6 5.98% $12,879
UNION HOME MORTGAGE CORP. 6 6.69% $12,103
Corporate Investors Mortgage Group, Inc. 6 6.69% $11,382
Wells Fargo Bank 5 5.53% $11,049
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.85% $7,198
VELOCIO MORTGAGE L.L.C. 5 6.15% $11,819
American Security Mortgage Corp. 5 6.53% $12,415
The Federal Savings Bank 5 6.43% $17,419
LOANPAL, LLC 4 5.63% $17,200
BROKER SOLUTIONS, INC. 4 6.94% $21,706
NBKC BANK 4 5.91% $7,068
NEWREZ LLC 4 6.37% $10,530
PENTAGON FEDERAL CREDIT UNION 4 5.84% $11,831
GoPrime Mortgage, Inc. 4 6.25% $8,890
GUARANTEED RATE, INC. 4 6.63% $1,067
CROSSCOUNTRY MORTGAGE, LLC 4 6.41% $14,184
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.38% $9,582
FIRST HOME MORTGAGE CORPORATION 3 6.08% $9,687
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.29% $6,286
North State Bank 3 5.71% $3,364
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.25% $6,501
Ameris Bank 3 6.00% $12,550
DHI MORTGAGE COMPANY, LTD. 3 5.16% $7,327
EAGLE HOME MORTGAGE, LLC 3 5.96% $4,899
CMG MORTGAGE, INC. 3 6.08% $17,834
ZILLOW HOME LOANS, LLC 3 6.96% $7,945
AMERISAVE MORTGAGE CORPORATION 3 6.17% $9,799
SUN WEST MORTGAGE COMPANY, INC. 3 6.21% $4,326
Capital Bank 2 6.50% $8,319
CORNERSTONE HOME LENDING, INC. 2 6.25% $6,126
First Heritage Mortgage, LLC 2 6.81% $7,682
Magnolia Bank 2 7.56% $10,348
NFM, INC. 2 6.94% $22,407
Barrington Bank & Trust Company, N.A. 2 6.50% $8,107
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.00% $7,919
T2 FINANCIAL LLC 2 6.50% $10,495
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $9,355
CARDINAL FINANCIAL 2 6.44% $9,912
HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.25% $7,243
Towne Mortgage of the Carolinas, LLC 2 6.06% $13,475
RELIANCE FIRST CAPITAL, LLC 2 6.94% $11,477
Flagstar Bank, FSB 2 6.63% $6,580
VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.13% $3,893
Plains Commerce Bank 2 6.38% $11,613
Paramount Residential Mortgage Group, Inc. 2 5.69% $6,252
VILLAGE CAPITAL MORTGAGE 2 6.50% $20,722
TOP FLITE FINANCIAL, INC. 1 7.25% $45,385
ALLIED MORTGAGE GROUP, INC. 1 6.50% $5,105
AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $17,493
American Mortgage & Equity Consultants, Inc. 1 5.75% $2,683
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $28,740
AmRes Corporation 1 5.63% $5,444
Blue Ridge Bank 1 5.50% $4,236
CALCON MUTUAL MORTGAGE LLC 1 7.25% $21,433
CAPITAL CENTER, L.L.C. 1 5.63% $2,704
CHURCHILL MORTGAGE CORPORATION 1 5.63% $11,618
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.25% $10,525
CONTOUR MORTGAGE CORPORATION 1 5.25% $20,432
EMM LOANS LLC 1 5.88% $9,128
EQUITY RESOURCES, INC. 1 6.99% $575
First-Citizens Bank & Trust Company 1 6.38% $3,714
FIRST COMMUNITY MORTGAGE, INC. 1 6.00% $5,723
First National Bank of Pennsylvania 1 6.38% $7,415
GSF Mortgage Corporation 1 5.88% $4,609
GUILD MORTGAGE COMPANY 1 4.75% $11,370
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.38% $8,215
HOMESIDE FINANCIAL, LLC 1 8.25% $4,119
HOMESPIRE MORTGAGE CORPORATION 1 6.88% $3,778
HUNT MORTGAGE CORPORATION 1 6.50% $11,456
KBHS HOME LOANS, LLC 1 4.50% $15,340
LADERA LENDING, INC. 1 6.75% $7,134
LAKEVIEW LOAN SERVICING, LLC 1 5.63% $14,989
MDE Home Loans, LLC 1 6.25% $1,196
MICHIGAN MUTUAL, INC. 1 5.38% $23,019
M/I FINANCIAL, LLC 1 6.25% $11,170
MILEND, INC. 1 7.25% $17,447
MORTGAGEONE, INC. 1 7.75% $45
NATIONS DIRECT MORTGAGE, LLC 1 7.25% $3,462
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $25,615
Northpointe Bank 1 6.75% $2,911
NTFN, INC. 1 6.13% $16,056
NVR Mortgage Finance, Inc. 1 5.63% $18,013
PLANET HOME LENDING, LLC 1 5.63% $7,064
PLAZA HOME MORTGAGE, INC. 1 5.75% $3,829
Prosperity Home Mortgage, LLC 1 5.75% $6,036
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 7.25% $4,526
RESOURCE FINANCIAL SERVICES, INC. 1 6.38% $6,848
Shamrock Home Loans, Inc. 1 6.50% $2,570
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $4,417
The Central Trust Bank 1 5.50% $9,037
ACADEMY MORTGAGE CORPORATION 1 6.25% $16,171
Towne Bank 1 4.88% $11,435
United Community Bank 1 5.25% $16,586
VERITAS FUNDING, LLC 1 5.75% $15,694

The top Durham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 69 VA loans originated. Their average total fees are $7,681, which is $6,549 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Durham VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,239), Mortgage Research Center, LLC ($7,681), USAA Federal Savings Bank ($8,404), MOVEMENT MORTGAGE, LLC ($8,470) and LOANDEPOT.COM, LLC ($8,629).

The lowest rate Durham VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.70%), NAVY FEDERAL CREDIT UNION (5.70%), QUICKEN LOANS, LLC (6.06%), LOANDEPOT.COM, LLC (6.11%) and UNITED WHOLESALE MORTGAGE, LLC (6.15%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Durham (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 $377,246 (10.0%) $476,112 (13.4%) 1.40 1,367
2018-02-01 $390,450 (11.5%) $487,309 (13.7%) 1.42 1,333
2018-03-01 $395,000 (7.6%) $487,386 (10.4%) 1.39 1,508
2018-04-01 $399,900 (5.2%) $500,732 (8.8%) 1.36 1,563
2018-05-01 $399,190 (2.8%) $510,159 (8.9%) 1.33 1,626
2018-06-01 $390,000 (0.1%) $501,452 (6.9%) 1.30 1,697
2018-07-01 $384,368 (-0.2%) $486,251 (3.1%) 1.28 1,795
2018-08-01 $379,994 (-0.6%) $480,286 (2.5%) 1.27 1,826
2018-09-01 $379,700 (-0.3%) $480,706 (1.6%) 1.28 1,870
2018-10-01 $378,611 (-0.1%) $478,565 (1.4%) 1.28 1,900
2018-11-01 $375,000 (-1.1%) $473,227 (0.1%) 1.27 1,824
2018-12-01 $374,000 (-0.3%) $471,060 (-0.9%) 1.29 1,681
2019-01-01 $359,950 (-4.6%) $460,338 (-3.3%) 1.24 1,533
2019-02-01 $375,000 (-4.0%) $473,100 (-2.9%) 1.27 1,483
2019-03-01 $387,440 (-1.9%) $488,280 (0.2%) 1.27 1,583
2019-04-01 $399,950 (0.0%) $499,517 (-0.2%) 1.27 1,683
2019-05-01 $399,450 (0.1%) $493,115 (-3.3%) 1.25 1,744
2019-06-01 $399,900 (2.5%) $485,830 (-3.1%) 1.25 1,870
2019-07-01 $396,833 (3.2%) $474,770 (-2.4%) 1.24 1,933
2019-08-01 $381,777 (0.5%) $465,129 (-3.2%) 1.21 1,981
2019-09-01 $375,152 (-1.2%) $459,351 (-4.4%) 1.20 2,011
2019-10-01 $369,995 (-2.3%) $454,090 (-5.1%) 1.19 2,025
2019-11-01 $371,800 (-0.9%) $454,328 (-4.0%) 1.22 1,907
2019-12-01 $379,530 (1.5%) $456,293 (-3.1%) 1.27 1,696
2020-01-01 $385,375 (7.1%) $461,165 (0.2%) 1.29 1,498
2020-02-01 $399,000 (6.4%) $474,212 (0.2%) 1.31 1,396
2020-03-01 $416,225 (7.4%) $497,586 (1.9%) 1.30 1,417
2020-04-01 $395,100 (-1.2%) $476,790 (-4.6%) 1.24 1,462
2020-05-01 $399,000 (-0.1%) $478,460 (-3.0%) 1.21 1,471
2020-06-01 $417,000 (4.3%) $503,935 (3.7%) 1.23 1,356
2020-07-01 $418,032 (5.3%) $507,824 (7.0%) 1.21 1,288
2020-08-01 $419,975 (10.0%) $512,238 (10.1%) 1.20 1,216
2020-09-01 $418,945 (11.7%) $526,946 (14.7%) 1.20 1,118
2020-10-01 $415,000 (12.2%) $540,704 (19.1%) 1.19 1,064
2020-11-01 $406,673 (9.4%) $536,815 (18.2%) 1.19 1,029
2020-12-01 $411,400 (8.4%) $549,529 (20.4%) 1.22 913
2021-01-01 $399,994 (3.8%) $541,101 (17.3%) 1.19 779
2021-02-01 $412,225 (3.3%) $565,136 (19.2%) 1.20 610
2021-03-01 $430,235 (3.4%) $571,854 (14.9%) 1.22 564
2021-04-01 $458,206 (16.0%) $614,718 (28.9%) 1.24 508
2021-05-01 $443,500 (11.2%) $596,646 (24.7%) 1.18 478
2021-06-01 $441,000 (5.8%) $603,003 (19.7%) 1.16 527
2021-07-01 $440,000 (5.3%) $594,590 (17.1%) 1.16 593
2021-08-01 $445,475 (6.1%) $587,264 (14.7%) 1.19 625
2021-09-01 $450,238 (7.5%) $590,983 (12.2%) 1.20 665
2021-10-01 $467,250 (12.6%) $610,213 (12.9%) 1.25 673
2021-11-01 $454,088 (11.7%) $600,945 (12.0%) 1.21 616
2021-12-01 $460,950 (12.0%) $609,879 (11.0%) 1.25 564
2022-01-01 $459,500 (14.9%) $633,140 (17.0%) 1.24 479
2022-02-01 $474,450 (15.1%) $650,055 (15.0%) 1.23 376
2022-03-01 $477,250 (10.9%) $684,498 (19.7%) 1.19 400
2022-04-01 $485,000 (5.9%) $675,273 (9.9%) 1.16 439
2022-05-01 $494,500 (11.5%) $690,223 (15.7%) 1.13 612
2022-06-01 $497,574 (12.8%) $667,519 (10.7%) 1.11 805
2022-07-01 $499,000 (13.4%) $658,342 (10.7%) 1.12 987
2022-08-01 $493,638 (10.8%) $653,666 (11.3%) 1.14 1,096
2022-09-01 $461,000 (2.4%) $620,643 (5.0%) 1.08 1,219
2022-10-01 $465,000 (-0.5%) $637,614 (4.5%) 1.09 1,321
2022-11-01 $465,000 (2.4%) $651,782 (8.5%) 1.12 1,265
2022-12-01 $459,500 (-0.3%) $653,621 (7.2%) 1.13 1,135
2023-01-01 $467,250 (1.7%) $665,694 (5.1%) 1.16 965
2023-02-01 $487,000 (2.7%) $699,174 (7.6%) 1.18 903
2023-03-01 $522,975 (9.6%) $732,205 (7.0%) 1.23 892
2023-04-01 $540,000 (11.3%) $743,742 (10.1%) 1.26 894
2023-05-01 $532,000 (7.6%) $755,445 (9.5%) 1.21 925
2023-06-01 $528,925 (6.3%) $757,330 (13.5%) 1.19 971
2023-07-01 $535,000 (7.2%) $762,481 (15.8%) 1.22 988
2023-08-01 $532,450 (7.9%) $758,485 (16.0%) 1.22 1,010
2023-09-01 $499,000 (8.2%) $734,130 (18.3%) 1.16 1,132
2023-10-01 $496,725 (6.8%) $733,628 (15.1%) 1.17 1,205
2023-11-01 $489,831 (5.3%) $722,235 (10.8%) 1.17 1,179
2023-12-01 $475,000 (3.4%) $711,843 (8.9%) 1.16 1,096
2024-01-01 $479,750 (2.7%) $737,614 (10.8%) 1.17 941
2024-02-01 $493,663 (1.4%) $743,831 (6.4%) 1.19 952
2024-03-01 $525,000 (0.4%) $761,284 (4.0%) 1.24 997
2024-04-01 $525,000 (-2.8%) $771,941 (3.8%) 1.22 1,106
Durham's median listing price for 2024-04-01 was $525,000, a difference of $-15,000 (-2.8%) versus the prior year and $0 versus the prior month.

Durham's median listing price comes in at 122% of the national average.

Durham's average listing price for 2024-04-01 was $771,941, a difference of $28,199 (3.8%) versus the prior year and $10,657 versus the prior month.

For the 2024-04-01 period, Durham had 1,106 MLS listings, a difference of 109 listings (11%) versus the prior month and 212 listings (24%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Durham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 2,462 sqft
2018-02-01 72 days 2,471 sqft
2018-03-01 44 days 2,468 sqft
2018-04-01 47 days 2,502 sqft
2018-05-01 50 days 2,485 sqft
2018-06-01 51 days 2,446 sqft
2018-07-01 53 days 2,433 sqft
2018-08-01 56 days 2,400 sqft
2018-09-01 66 days 2,376 sqft
2018-10-01 68 days 2,361 sqft
2018-11-01 75 days 2,327 sqft
2018-12-01 82 days 2,302 sqft
2019-01-01 89 days 2,243 sqft
2019-02-01 79 days 2,304 sqft
2019-03-01 57 days 2,364 sqft
2019-04-01 47 days 2,423 sqft
2019-05-01 47 days 2,413 sqft
2019-06-01 50 days 2,369 sqft
2019-07-01 56 days 2,306 sqft
2019-08-01 59 days 2,257 sqft
2019-09-01 62 days 2,255 sqft
2019-10-01 65 days 2,253 sqft
2019-11-01 68 days 2,260 sqft
2019-12-01 79 days 2,227 sqft
2020-01-01 82 days 2,201 sqft
2020-02-01 72 days 2,231 sqft
2020-03-01 48 days 2,331 sqft
2020-04-01 49 days 2,205 sqft
2020-05-01 56 days 2,201 sqft
2020-06-01 58 days 2,309 sqft
2020-07-01 52 days 2,307 sqft
2020-08-01 50 days 2,282 sqft
2020-09-01 52 days 2,334 sqft
2020-10-01 51 days 2,276 sqft
2020-11-01 49 days 2,250 sqft
2020-12-01 53 days 2,226 sqft
2021-01-01 58 days 2,197 sqft
2021-02-01 38 days 2,188 sqft
2021-03-01 25 days 2,140 sqft
2021-04-01 25 days 2,211 sqft
2021-05-01 19 days 2,119 sqft
2021-06-01 16 days 2,067 sqft
2021-07-01 22 days 2,059 sqft
2021-08-01 27 days 2,079 sqft
2021-09-01 28 days 2,046 sqft
2021-10-01 29 days 2,129 sqft
2021-11-01 31 days 1,999 sqft
2021-12-01 39 days 1,939 sqft
2022-01-01 52 days 1,901 sqft
2022-02-01 38 days 1,899 sqft
2022-03-01 17 days 1,984 sqft
2022-04-01 15 days 2,017 sqft
2022-05-01 16 days 2,007 sqft
2022-06-01 18 days 2,033 sqft
2022-07-01 24 days 2,059 sqft
2022-08-01 32 days 2,074 sqft
2022-09-01 44 days 2,053 sqft
2022-10-01 50 days 2,080 sqft
2022-11-01 58 days 2,087 sqft
2022-12-01 69 days 2,086 sqft
2023-01-01 74 days 2,074 sqft
2023-02-01 61 days 2,135 sqft
2023-03-01 45 days 2,206 sqft
2023-04-01 42 days 2,229 sqft
2023-05-01 39 days 2,184 sqft
2023-06-01 40 days 2,153 sqft
2023-07-01 44 days 2,178 sqft
2023-08-01 44 days 2,200 sqft
2023-09-01 43 days 2,154 sqft
2023-10-01 47 days 2,159 sqft
2023-11-01 52 days 2,127 sqft
2023-12-01 64 days 2,025 sqft
2024-01-01 61 days 2,024 sqft
2024-02-01 44 days 2,017 sqft
2024-03-01 37 days 2,134 sqft
2024-04-01 39 days 2,111 sqft
Durham's median listing age (time on market) for 2024-04-01 was 39 days. This is -6% shorter than the same period one year ago.

Durham's median square footage for active listings during the 2024-04-01 period was 2,111 sqft. One year prior, the average listing was 2,229 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.