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 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 6.3% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.46% and one month ago for the week of 2024-10-04, the average rate was 5.78%.

    The average rate one year ago was 7.44%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.26%.

    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
    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%) 1.18 1,401
    2024-10-01 $494,000 (-0.6%) $714,296 (-2.6%) 1.16 1,454
    Durham's median listing price for 2024-10-01 was $494,000, a difference of $-2,725 (-0.6%) versus the prior year and $-9,073 versus the prior month.

    Durham's median listing price comes in at 116% of the national average.

    Durham's average listing price for 2024-10-01 was $714,296, a difference of $-19,332 (-2.6%) versus the prior year and $-8,316 versus the prior month.

    For the 2024-10-01 period, Durham had 1,454 MLS listings, a difference of 53 listings (4%) versus the prior month and 249 listings (21%) 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
    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 53 days 2,075 sqft
    2024-10-01 52 days 2,034 sqft
    Durham's median listing age (time on market) for 2024-10-01 was 52 days. This is 12% longer than the same period one year ago.

    Durham's median square footage for active listings during the 2024-10-01 period was 2,034 sqft. One year prior, the average listing was 2,159 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.