Durham VA Loan Rates, Closing Costs & Stats

DURHAM-CHAPEL HILL, NC

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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.

    Durham's 112 lenders originated 802 VA loans during 2022. The total origination value was $289,620,000, with an average VA loan value of $361,122.

    Durham VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Durham averaged 5.97% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Durham's average VA mortgage closing costs are $5,825.

    The average rate for the prior week (2023-05-19) was 6% and one month ago for the week of 2023-04-21, the average rate was 5.62%.

    The average rate one year ago was 4.69%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.73%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 86 5.13% $7,540
    QUICKEN LOANS, LLC 60 3.94% $12,074
    FREEDOM MORTGAGE CORPORATION 42 4.43% $11,346
    NAVY FEDERAL CREDIT UNION 42 3.97% $7,933
    UNITED WHOLESALE MORTGAGE, LLC 39 4.20% $9,802
    PENNYMAC LOAN SERVICES, LLC 29 3.26% $12,332
    USAA Federal Savings Bank 26 4.61% $6,124
    LOANDEPOT.COM, LLC 25 4.13% $9,285
    NEW DAY FINANCIAL, LLC 22 4.75% $10,558
    The Federal Savings Bank 17 4.54% $14,359
    MOVEMENT MORTGAGE, LLC 15 4.18% $7,184
    Wells Fargo Bank 13 4.04% $6,258
    GUARANTEED RATE, INC. 11 4.21% $8,745
    PENTAGON FEDERAL CREDIT UNION 11 3.11% $2,989
    CLEARPATH LENDING 10 3.54% $8,995
    UNION HOME MORTGAGE CORP. 10 4.73% $12,710
    NFM, INC. 9 5.63% $10,257
    Mr. Cooper ( Nationstar Mortgage ) 9 4.79% $12,780
    NVR Mortgage Finance, Inc. 9 3.33% $8,686
    CARDINAL FINANCIAL 8 4.17% $12,697
    CALIBER HOME LOANS, INC. 8 4.66% $7,717
    Towne Mortgage of the Carolinas, LLC 7 4.27% $7,295
    Prosperity Home Mortgage, LLC 7 4.52% $9,218
    BROKER SOLUTIONS, INC. 7 4.32% $9,650
    HOME POINT FINANCIAL CORPORATION 7 4.50% $10,221
    DHI MORTGAGE COMPANY, LTD. 7 3.69% $12,531
    EAGLE HOME MORTGAGE, LLC 6 4.75% $5,503
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 4.96% $7,576
    INTERCOASTAL MORTGAGE COMPANY 6 4.33% $11,892
    Truist 6 3.12% $12,651
    LOANPAL, LLC 6 3.81% $11,893
    AMERISAVE MORTGAGE CORPORATION 6 3.85% $11,022
    North American Savings Bank, F.S.B. 6 4.23% $11,403
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 5.44% $15,897
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 5.04% $9,236
    Flagstar Bank, FSB 5 4.38% $14,054
    CORNERSTONE HOME LENDING, INC. 5 5.50% $11,481
    VILLAGE CAPITAL MORTGAGE 5 3.75% $7,634
    Carrington Mortgage Services, LLC 5 4.35% $8,462
    FIRST HOME MORTGAGE CORPORATION 5 4.95% $15,020
    NEWREZ LLC 5 3.70% $7,265
    RELIANCE FIRST CAPITAL, LLC 4 5.00% $5,814
    VELOCIO MORTGAGE L.L.C. 4 4.63% $15,336
    T2 FINANCIAL LLC 4 4.66% $10,967
    CONTOUR MORTGAGE CORPORATION 4 4.69% $8,861
    Corporate Investors Mortgage Group, Inc. 4 4.19% $9,927
    CROSSCOUNTRY MORTGAGE, LLC 4 5.38% $9,445
    Blue Ridge Bank 4 4.72% $9,373
    GoPrime Mortgage, Inc. 4 4.87% $16,338
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.06% $9,884
    LAKEVIEW LOAN SERVICING, LLC 4 3.00% $6,993
    MUTUAL OF OMAHA MORTGAGE, INC. 4 3.25% $6,291
    Ameris Bank 3 4.04% $13,612
    Magnolia Bank 3 3.38% $16,711
    Barrington Bank & Trust Company, N.A. 3 4.92% $5,067
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.33% $15,715
    First Horizon Bank 3 4.46% $2,654
    South Pacific Financial Corporation 3 3.33% $15,990
    NP, Inc. 3 2.63% $5,789
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.50% $10,348
    PLANET HOME LENDING, LLC 2 4.38% $7,567
    Alpha Mortgage Corporation 2 6.06% $11,578
    ANGEL OAK HOME LOANS LLC 2 4.31% $3,900
    CAPITAL CENTER, L.L.C. 2 3.56% $4,960
    CMG MORTGAGE, INC. 2 5.50% $4,377
    Low VA Rates, LLC 2 4.00% $11,745
    Mid-Continent Funding, Inc. 2 4.13% $10,155
    Nations Lending Corporation 2 5.06% $14,981
    North State Bank 2 4.69% $6,827
    ACADEMY MORTGAGE CORPORATION 2 4.13% $6,739
    PULTE MORTGAGE LLC 2 4.13% $9,704
    SOVEREIGN LENDING GROUP INCORPORATED 2 4.50% $12,092
    Texana Bank 2 3.94% $14,348
    United Community Bank 2 4.75% $4,764
    KBHS HOME LOANS, LLC 1 5.00% $2,420
    Northpointe Bank 1 3.25% $5,255
    U.S. Bank 1 5.25% $11,405
    Integrity Home Mortgage Corp 1 5.88% $6,265
    INSPIRE HOME LOANS INC. 1 4.25% $1,085
    Paramount Residential Mortgage Group, Inc. 1 4.63% $20,516
    HOMESIDE FINANCIAL, LLC 1 5.75% $8,799
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.38% $19,551
    Plains Commerce Bank 1 5.63% $3,681
    AMERICAN FINANCING CORPORATION 1 3.25% $8,951
    First National Bank of Pennsylvania 1 4.00% $26,350
    First Heritage Mortgage, LLC 1 5.25% $4,113
    Victorian Finance, LLC 1 2.75% $8,631
    FIRST COMMUNITY MORTGAGE, INC. 1 3.38% $23,953
    First-Citizens Bank & Trust Company 1 2.50% $4,505
    RESIDENTIAL BANCORP. 1 4.38% $13,699
    SOUTHERN TRUST MORTGAGE, LLC 1 6.63% $15,690
    Equity Prime Mortgage LLC 1 6.63% $12,633
    AMCAP MORTGAGE, LTD. 1 5.13% $3,800
    Strong Home Mortgage, LLC 1 4.75% $1,215
    Colten Mortgage, LLC 1 4.13% $8,806
    ACOPIA, LLC 1 2.75% $6,529
    The Central Trust Bank 1 5.63% $28,834
    CERTAINTY HOME LOANS, LLC 1 6.13% $17,818
    The Fidelity Bank 1 3.50% $17,090
    Towne Bank 1 5.75% $7,136
    BNC National Bank 1 2.25% $1,576
    Bank of England 1 6.75% $12,640
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 4.75% $26,915
    ZILLOW HOME LOANS, LLC 1 6.50% $14,411
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.25% $8,054
    M&T Bank 1 4.75% $3,063
    American National Bank and Trust Company 1 6.63% $9,085
    M/I FINANCIAL, LLC 1 5.13% $3,735
    NBKC BANK 1 4.88% $1,171
    MIDLAND MORTGAGE CORPORATION 1 4.25% $7,255
    LEADERONE FINANCIAL CORPORATION 1 4.75% $8,177
    Lakeview Community Capital, LLC 1 3.25% $2,616

    The top Durham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 86 VA loans originated. Their average total fees are $7,540, which is $4,533 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Durham VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($2,989), USAA Federal Savings Bank ($6,124), Wells Fargo Bank ($6,258), MOVEMENT MORTGAGE, LLC ($7,184) and Mortgage Research Center, LLC ($7,540).

    The lowest rate Durham VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.11%), PENNYMAC LOAN SERVICES, LLC (3.26%), CLEARPATH LENDING (3.54%), QUICKEN LOANS, LLC (3.94%) and NAVY FEDERAL CREDIT UNION (3.97%).

    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 $377,532 (10.1%) $476,276 (13.4%) 1.40 1,369
    2018-02-01 $392,588 (11.6%) $487,332 (13.7%) 1.43 1,336
    2018-03-01 $395,000 (7.6%) $487,595 (10.4%) 1.39 1,508
    2018-04-01 $399,950 (5.2%) $500,921 (8.7%) 1.36 1,563
    2018-05-01 $399,415 (2.6%) $510,173 (8.9%) 1.33 1,627
    2018-06-01 $390,000 (0.1%) $501,438 (7.0%) 1.30 1,698
    2018-07-01 $384,700 (-0.1%) $486,423 (3.2%) 1.28 1,793
    2018-08-01 $380,020 (-0.5%) $480,476 (2.6%) 1.27 1,824
    2018-09-01 $379,700 (-0.3%) $480,632 (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 (-1.3%) $473,202 (0.1%) 1.27 1,826
    2018-12-01 $374,000 (-0.3%) $470,997 (-1.0%) 1.29 1,682
    2019-01-01 $360,120 (-4.6%) $460,393 (-3.3%) 1.24 1,534
    2019-02-01 $375,000 (-4.5%) $473,152 (-2.9%) 1.27 1,484
    2019-03-01 $399,000 (1.0%) $493,413 (1.2%) 1.33 1,585
    2019-04-01 $400,000 (0.0%) $500,870 (0.0%) 1.27 1,678
    2019-05-01 $399,650 (0.1%) $493,043 (-3.4%) 1.25 1,746
    2019-06-01 $399,900 (2.5%) $485,810 (-3.1%) 1.25 1,873
    2019-07-01 $397,000 (3.2%) $474,669 (-2.4%) 1.24 1,937
    2019-08-01 $394,500 (3.8%) $472,400 (-1.7%) 1.24 1,924
    2019-09-01 $396,902 (4.5%) $475,399 (-1.1%) 1.25 1,823
    2019-10-01 $369,995 (-2.3%) $453,720 (-5.2%) 1.19 2,028
    2019-11-01 $373,865 (-0.3%) $453,904 (-4.1%) 1.23 1,914
    2019-12-01 $379,769 (1.5%) $456,347 (-3.1%) 1.27 1,702
    2020-01-01 $386,325 (7.3%) $461,127 (0.2%) 1.29 1,504
    2020-02-01 $399,000 (6.4%) $474,379 (0.3%) 1.31 1,403
    2020-03-01 $415,900 (4.2%) $497,560 (0.8%) 1.30 1,421
    2020-04-01 $395,000 (-1.3%) $476,631 (-4.8%) 1.24 1,462
    2020-05-01 $399,000 (-0.2%) $478,299 (-3.0%) 1.21 1,471
    2020-06-01 $416,225 (4.1%) $503,466 (3.6%) 1.23 1,358
    2020-07-01 $417,713 (5.2%) $507,183 (6.9%) 1.21 1,290
    2020-08-01 $419,900 (6.4%) $511,656 (8.3%) 1.20 1,219
    2020-09-01 $418,845 (5.5%) $526,682 (10.8%) 1.20 1,121
    2020-10-01 $415,000 (12.2%) $540,514 (19.1%) 1.19 1,067
    2020-11-01 $407,000 (8.9%) $536,685 (18.2%) 1.19 1,032
    2020-12-01 $411,581 (8.4%) $549,717 (20.5%) 1.22 917
    2021-01-01 $399,900 (3.5%) $538,911 (16.9%) 1.19 784
    2021-02-01 $411,950 (3.3%) $564,052 (18.9%) 1.20 618
    2021-03-01 $427,350 (2.8%) $568,363 (14.2%) 1.21 579
    2021-04-01 $453,518 (14.8%) $611,076 (28.2%) 1.23 512
    2021-05-01 $440,000 (10.3%) $593,181 (24.0%) 1.17 483
    2021-06-01 $440,375 (5.8%) $603,385 (19.9%) 1.16 528
    2021-07-01 $442,974 (6.1%) $594,948 (17.3%) 1.17 593
    2021-08-01 $445,713 (6.2%) $587,493 (14.8%) 1.19 626
    2021-09-01 $449,950 (7.4%) $589,751 (12.0%) 1.20 669
    2021-10-01 $466,760 (12.5%) $609,343 (12.7%) 1.24 674
    2021-11-01 $450,000 (10.6%) $598,485 (11.5%) 1.20 620
    2021-12-01 $460,450 (11.9%) $609,959 (11.0%) 1.25 564
    2022-01-01 $459,500 (14.9%) $633,140 (17.5%) 1.24 479
    2022-02-01 $474,450 (15.2%) $650,055 (15.3%) 1.23 376
    2022-03-01 $478,000 (11.9%) $685,468 (20.6%) 1.20 399
    2022-04-01 $485,000 (6.9%) $672,593 (10.1%) 1.16 438
    2022-05-01 $494,000 (12.3%) $689,581 (16.3%) 1.13 613
    2022-06-01 $497,450 (13.0%) $667,739 (10.7%) 1.11 808
    2022-07-01 $499,900 (12.9%) $659,927 (10.9%) 1.13 989
    2022-08-01 $495,000 (11.1%) $655,039 (11.5%) 1.14 1,103
    2022-09-01 $461,500 (2.6%) $620,653 (5.2%) 1.08 1,226
    2022-10-01 $464,198 (-0.6%) $637,175 (4.6%) 1.09 1,326
    2022-11-01 $465,500 (3.4%) $652,563 (9.0%) 1.12 1,269
    2022-12-01 $460,000 (-0.1%) $655,239 (7.4%) 1.14 1,138
    2023-01-01 $467,450 (1.7%) $666,415 (5.3%) 1.16 967
    2023-02-01 $489,000 (3.1%) $700,614 (7.8%) 1.18 903
    2023-03-01 $523,450 (9.5%) $732,604 (6.9%) 1.23 892
    2023-04-01 $544,500 (12.3%) $745,710 (10.9%) 1.27 894
    Durham's median listing price for 2023-04-01 was $544,500, a difference of $59,500 (12.3%) versus the prior year and $21,050 versus the prior month.

    Durham's median listing price comes in at 127% of the national average.

    Durham's average listing price for 2023-04-01 was $745,710, a difference of $73,117 (10.9%) versus the prior year and $13,106 versus the prior month.

    For the 2023-04-01 period, Durham had 894 MLS listings, a difference of 2 listings (0%) versus the prior month and 456 listings (104%) 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 94 days 2,463 sqft
    2018-02-01 82 days 2,472 sqft
    2018-03-01 50 days 2,468 sqft
    2018-04-01 52 days 2,504 sqft
    2018-05-01 54 days 2,484 sqft
    2018-06-01 56 days 2,446 sqft
    2018-07-01 59 days 2,433 sqft
    2018-08-01 60 days 2,401 sqft
    2018-09-01 72 days 2,376 sqft
    2018-10-01 74 days 2,361 sqft
    2018-11-01 80 days 2,327 sqft
    2018-12-01 88 days 2,302 sqft
    2019-01-01 93 days 2,245 sqft
    2019-02-01 85 days 2,304 sqft
    2019-03-01 59 days 2,400 sqft
    2019-04-01 51 days 2,426 sqft
    2019-05-01 51 days 2,414 sqft
    2019-06-01 53 days 2,371 sqft
    2019-07-01 59 days 2,306 sqft
    2019-08-01 72 days 2,320 sqft
    2019-09-01 77 days 2,357 sqft
    2019-10-01 70 days 2,256 sqft
    2019-11-01 73 days 2,275 sqft
    2019-12-01 84 days 2,237 sqft
    2020-01-01 90 days 2,208 sqft
    2020-02-01 80 days 2,243 sqft
    2020-03-01 53 days 2,340 sqft
    2020-04-01 53 days 2,208 sqft
    2020-05-01 60 days 2,207 sqft
    2020-06-01 63 days 2,315 sqft
    2020-07-01 58 days 2,307 sqft
    2020-08-01 56 days 2,286 sqft
    2020-09-01 57 days 2,342 sqft
    2020-10-01 57 days 2,277 sqft
    2020-11-01 54 days 2,250 sqft
    2020-12-01 58 days 2,226 sqft
    2021-01-01 64 days 2,178 sqft
    2021-02-01 47 days 2,188 sqft
    2021-03-01 29 days 2,156 sqft
    2021-04-01 30 days 2,223 sqft
    2021-05-01 22 days 2,122 sqft
    2021-06-01 18 days 2,071 sqft
    2021-07-01 24 days 2,059 sqft
    2021-08-01 29 days 2,085 sqft
    2021-09-01 30 days 2,046 sqft
    2021-10-01 30 days 2,120 sqft
    2021-11-01 33 days 1,992 sqft
    2021-12-01 42 days 1,935 sqft
    2022-01-01 58 days 1,904 sqft
    2022-02-01 44 days 1,902 sqft
    2022-03-01 19 days 1,986 sqft
    2022-04-01 16 days 2,017 sqft
    2022-05-01 16 days 2,016 sqft
    2022-06-01 19 days 2,037 sqft
    2022-07-01 25 days 2,063 sqft
    2022-08-01 34 days 2,084 sqft
    2022-09-01 45 days 2,062 sqft
    2022-10-01 50 days 2,094 sqft
    2022-11-01 60 days 2,093 sqft
    2022-12-01 71 days 2,091 sqft
    2023-01-01 78 days 2,073 sqft
    2023-02-01 67 days 2,135 sqft
    2023-03-01 50 days 2,212 sqft
    2023-04-01 45 days 2,236 sqft
    Durham's median listing age (time on market) for 2023-04-01 was 45 days. This is 181% longer than the same period one year ago.

    Durham's median square footage for active listings during the 2023-04-01 period was 2,236 sqft. One year prior, the average listing was 2,017 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.