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
5.36%
for the week of 2024-10-04, compared to the national average (all VA variants) of
5.596% for the same period.
Durham's average VA mortgage closing costs are $6,156.
The average rate for the prior week (2024-09-27) was
5.48% and
one month ago for the week of 2024-08-30, the
average rate was 5.71%.
The average rate one year ago was 7.14%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.62%.
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.
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. LouisDate | 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 |
2024-05-01 | $541,283 (1.7%) | $797,234 (5.5%) | 1.22 | 1,158 |
2024-06-01 | $525,000 (-0.7%) | $768,774 (1.5%) | 1.18 | 1,250 |
2024-07-01 | $515,601 (-3.6%) | $737,032 (-3.3%) | 1.18 | 1,298 |
2024-08-01 | $499,900 (-6.1%) | $720,637 (-5.0%) | 1.16 | 1,337 |
2024-09-01 | $503,073 (0.8%) | $722,612 (-1.6%) | 0.00 | 1,401 |
Durham's median listing price comes in at 0% of the national average.
Durham's average listing price for 2024-09-01 was $722,612, a difference of $-11,518 (-1.6%) versus the prior year and $1,975 versus the prior month.
For the 2024-09-01 period, Durham had 1,401 MLS listings, a difference of 64 listings (5%) versus the prior month and 269 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. LouisDate | 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 |
2024-05-01 | 37 days | 2,206 sqft |
2024-06-01 | 38 days | 2,144 sqft |
2024-07-01 | 48 days | 2,095 sqft |
2024-08-01 | 51 days | 2,075 sqft |
2024-09-01 | 0 days | 2,075 sqft |
Durham's median square footage for active listings during the 2024-09-01 period was 2,075 sqft. One year prior, the average listing was 2,154 sqft.