Norfolk VA Loan Rates, Closing Costs & Stats
Norfolk, NE
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.
Norfolk's 14 lenders originated 32 VA loans during 2023. The total origination value was $8,330,000, with an average VA loan value of $260,313.
Norfolk VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Norfolk
averaged
0.46%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Norfolk's average VA mortgage closing costs are $4,956.
The average rate for the prior week (2024-11-22) was
6.53% and
one month ago for the week of 2024-10-25, the
average rate was 6.43%.
The average rate one year ago was 7.37%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0%.
Norfolk 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 Norfolk level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Mortgage Research Center, LLC | 7 | 6.82% | $8,178 |
GUARANTEED RATE, INC. | 4 | 6.06% | $5,219 |
NAVY FEDERAL CREDIT UNION | 3 | 5.58% | $3,590 |
USAA Federal Savings Bank | 3 | 7.42% | $3,648 |
PENNYMAC LOAN SERVICES, LLC | 2 | 5.13% | $8,196 |
QUICKEN LOANS, LLC | 2 | 5.62% | $10,318 |
Regent Financial Group, Inc. | 1 | 7.13% | $8,862 |
CROSSCOUNTRY MORTGAGE, LLC | 1 | 6.63% | $22,820 |
West Gate Bank | 1 | 5.63% | $2,352 |
First National Bank of Omaha | 1 | 6.13% | $1,451 |
HOMEBRIDGE FINANCIAL SERVICES, INC. | 1 | 7.38% | $12,950 |
LOANDEPOT.COM, LLC | 1 | 5.00% | $17,709 |
NEW DAY FINANCIAL, LLC | 1 | 6.99% | $6,106 |
Pinnacle Bank | 1 | 5.63% | $3,216 |
The top Norfolk VA lender as defined by loan originations is Mortgage Research Center, LLC, with
7 VA loans originated. Their average total fees are
$8,178, which is $2,958
higher than the next largest lender,
GUARANTEED RATE, INC..
The lowest fee Norfolk VA lenders (with over 10 loans originated) are
.
The lowest rate Norfolk VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Norfolk (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 | $187,175 (1.4%) | $210,332 (-1.9%) | 0.00 | 92 |
2018-02-01 | $184,550 (1.4%) | $217,632 (2.5%) | 0.00 | 89 |
2018-03-01 | $179,925 (-4.2%) | $213,386 (-4.3%) | 0.00 | 89 |
2018-04-01 | $188,950 (-5.5%) | $217,428 (-9.1%) | 0.00 | 88 |
2018-05-01 | $192,681 (7.1%) | $227,060 (5.2%) | 0.00 | 107 |
2018-06-01 | $199,500 (9.0%) | $241,120 (4.1%) | 0.00 | 123 |
2018-07-01 | $191,438 (6.4%) | $236,766 (4.7%) | 0.00 | 120 |
2018-08-01 | $187,463 (5.1%) | $225,985 (1.1%) | 0.00 | 129 |
2018-09-01 | $187,225 (7.2%) | $237,500 (16.2%) | 0.00 | 140 |
2018-10-01 | $179,788 (7.7%) | $229,459 (11.0%) | 0.00 | 160 |
2018-11-01 | $179,250 (-3.2%) | $228,353 (9.5%) | 0.00 | 156 |
2018-12-01 | $174,950 (-9.6%) | $224,615 (7.4%) | 0.00 | 136 |
2019-01-01 | $173,625 (-7.2%) | $220,496 (4.8%) | 0.00 | 134 |
2019-02-01 | $182,400 (-1.2%) | $230,651 (6.0%) | 0.00 | 120 |
2019-03-01 | $190,318 (5.8%) | $237,064 (11.1%) | 0.00 | 118 |
2019-04-01 | $186,668 (-1.2%) | $235,393 (8.3%) | 0.00 | 117 |
2019-05-01 | $183,950 (-4.5%) | $232,603 (2.4%) | 0.00 | 117 |
2019-06-01 | $194,500 (-2.5%) | $235,904 (-2.2%) | 0.00 | 126 |
2019-07-01 | $199,850 (4.4%) | $234,935 (-0.8%) | 0.00 | 129 |
2019-08-01 | $200,509 (7.0%) | $238,400 (5.5%) | 0.00 | 138 |
2019-09-01 | $201,348 (7.5%) | $241,031 (1.5%) | 0.00 | 145 |
2019-10-01 | $195,857 (8.9%) | $236,670 (3.1%) | 0.00 | 158 |
2019-11-01 | $189,000 (5.4%) | $225,446 (-1.3%) | 0.00 | 160 |
2019-12-01 | $195,375 (11.7%) | $219,990 (-2.1%) | 0.00 | 147 |
2020-01-01 | $204,963 (18.1%) | $223,976 (1.6%) | 0.00 | 130 |
2020-02-01 | $219,900 (20.6%) | $236,336 (2.5%) | 0.00 | 118 |
2020-03-01 | $219,100 (15.1%) | $239,582 (1.1%) | 0.00 | 124 |
2020-04-01 | $210,500 (12.8%) | $232,930 (-1.1%) | 0.00 | 116 |
2020-05-01 | $194,350 (5.7%) | $230,500 (-0.9%) | 0.00 | 100 |
2020-06-01 | $210,000 (8.0%) | $236,857 (0.4%) | 0.00 | 92 |
2020-07-01 | $207,925 (4.0%) | $236,111 (0.5%) | 0.00 | 98 |
2020-08-01 | $192,700 (-3.9%) | $233,619 (-2.0%) | 0.00 | 99 |
2020-09-01 | $222,400 (10.5%) | $244,275 (1.4%) | 0.00 | 107 |
2020-10-01 | $225,000 (14.9%) | $250,090 (5.7%) | 0.00 | 102 |
2020-11-01 | $224,950 (19.0%) | $249,009 (10.5%) | 0.00 | 88 |
2020-12-01 | $219,900 (12.6%) | $242,561 (10.3%) | 0.00 | 82 |
2021-01-01 | $219,900 (7.3%) | $241,491 (7.8%) | 0.00 | 74 |
2021-02-01 | $216,200 (-1.7%) | $247,091 (4.6%) | 0.00 | 61 |
2021-03-01 | $227,425 (3.8%) | $262,722 (9.7%) | 0.00 | 51 |
2021-04-01 | $206,673 (-1.8%) | $239,446 (2.8%) | 0.00 | 51 |
2021-05-01 | $189,999 (-2.2%) | $219,447 (-4.8%) | 0.00 | 48 |
2021-06-01 | $207,450 (-1.2%) | $261,097 (10.2%) | 0.00 | 50 |
2021-07-01 | $199,925 (-3.9%) | $269,774 (14.3%) | 0.00 | 54 |
2021-08-01 | $210,700 (9.3%) | $264,559 (13.2%) | 0.00 | 68 |
2021-09-01 | $217,500 (-2.2%) | $266,873 (9.3%) | 0.00 | 76 |
2021-10-01 | $259,250 (15.2%) | $303,580 (21.4%) | 0.00 | 72 |
2021-11-01 | $242,338 (7.7%) | $283,683 (13.9%) | 0.00 | 71 |
2021-12-01 | $247,600 (12.6%) | $294,188 (21.3%) | 0.00 | 60 |
2022-01-01 | $230,000 (4.6%) | $269,329 (11.5%) | 0.00 | 51 |
2022-02-01 | $264,250 (22.2%) | $274,909 (11.3%) | 0.00 | 47 |
2022-03-01 | $231,225 (1.7%) | $273,764 (4.2%) | 0.00 | 54 |
2022-04-01 | $270,000 (30.6%) | $294,141 (22.8%) | 0.00 | 50 |
2022-05-01 | $254,000 (33.7%) | $292,666 (33.4%) | 0.00 | 49 |
2022-06-01 | $236,975 (14.2%) | $272,467 (4.4%) | 0.00 | 57 |
2022-07-01 | $248,600 (24.4%) | $302,567 (12.2%) | 0.00 | 67 |
2022-08-01 | $268,750 (27.6%) | $318,839 (20.5%) | 0.00 | 77 |
2022-09-01 | $267,325 (22.9%) | $316,684 (18.7%) | 0.00 | 83 |
2022-10-01 | $258,500 (-0.3%) | $314,588 (3.6%) | 0.00 | 92 |
2022-11-01 | $233,625 (-3.6%) | $307,961 (8.6%) | 0.00 | 89 |
2022-12-01 | $239,250 (-3.4%) | $332,984 (13.2%) | 0.00 | 77 |
2023-01-01 | $244,350 (6.2%) | $338,970 (25.9%) | 0.00 | 65 |
2023-02-01 | $249,750 (-5.5%) | $347,884 (26.6%) | 0.00 | 71 |
2023-03-01 | $249,700 (8.0%) | $345,287 (26.1%) | 0.00 | 64 |
2023-04-01 | $275,000 (1.9%) | $350,978 (19.3%) | 0.00 | 50 |
2023-05-01 | $252,350 (-0.7%) | $330,954 (13.1%) | 0.00 | 53 |
2023-06-01 | $298,100 (25.8%) | $355,332 (30.4%) | 0.00 | 61 |
2023-07-01 | $270,000 (8.6%) | $332,597 (9.9%) | 0.00 | 56 |
2023-08-01 | $254,850 (-5.2%) | $301,506 (-5.4%) | 0.00 | 62 |
2023-09-01 | $249,900 (-6.5%) | $294,880 (-6.9%) | 0.00 | 65 |
2023-10-01 | $275,000 (6.4%) | $317,414 (0.9%) | 0.00 | 85 |
2023-11-01 | $286,000 (22.4%) | $330,499 (7.3%) | 0.00 | 91 |
2023-12-01 | $294,900 (23.3%) | $317,692 (-4.6%) | 0.00 | 78 |
2024-01-01 | $273,450 (11.9%) | $303,045 (-10.6%) | 0.00 | 79 |
2024-02-01 | $272,425 (9.1%) | $293,657 (-15.6%) | 0.00 | 73 |
2024-03-01 | $285,000 (14.1%) | $304,865 (-11.7%) | 0.00 | 73 |
2024-04-01 | $283,650 (3.2%) | $319,062 (-9.1%) | 0.00 | 81 |
2024-05-01 | $282,450 (11.9%) | $324,903 (-1.8%) | 0.00 | 90 |
2024-06-01 | $285,000 (-4.4%) | $318,022 (-10.5%) | 0.00 | 104 |
2024-07-01 | $284,725 (5.5%) | $320,156 (-3.7%) | 0.00 | 106 |
2024-08-01 | $279,000 (9.5%) | $307,637 (2.0%) | 0.00 | 117 |
2024-09-01 | $264,688 (5.9%) | $296,376 (0.5%) | 0.00 | 120 |
2024-10-01 | $269,488 (-2.0%) | $298,282 (-6.0%) | 0.00 | 120 |
Norfolk's median listing price comes in at 0% of the national average.
Norfolk's average listing price for 2024-10-01 was $298,282, a difference of $-19,132 (-6.0%) versus the prior year and $1,906 versus the prior month.
For the 2024-10-01 period, Norfolk had 120 MLS listings, a difference of 0 listings (0%) versus the prior month and 35 listings (41%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Norfolk (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,213 sqft |
2018-02-01 | 0 days | 2,127 sqft |
2018-03-01 | 0 days | 1,981 sqft |
2018-04-01 | 0 days | 1,978 sqft |
2018-05-01 | 0 days | 2,205 sqft |
2018-06-01 | 0 days | 2,294 sqft |
2018-07-01 | 0 days | 2,326 sqft |
2018-08-01 | 0 days | 2,251 sqft |
2018-09-01 | 0 days | 2,203 sqft |
2018-10-01 | 0 days | 2,154 sqft |
2018-11-01 | 0 days | 2,116 sqft |
2018-12-01 | 0 days | 2,060 sqft |
2019-01-01 | 0 days | 2,057 sqft |
2019-02-01 | 0 days | 2,016 sqft |
2019-03-01 | 0 days | 2,137 sqft |
2019-04-01 | 0 days | 2,103 sqft |
2019-05-01 | 0 days | 2,093 sqft |
2019-06-01 | 0 days | 2,161 sqft |
2019-07-01 | 0 days | 2,154 sqft |
2019-08-01 | 0 days | 2,212 sqft |
2019-09-01 | 0 days | 2,266 sqft |
2019-10-01 | 0 days | 2,274 sqft |
2019-11-01 | 0 days | 2,273 sqft |
2019-12-01 | 0 days | 2,256 sqft |
2020-01-01 | 0 days | 2,267 sqft |
2020-02-01 | 0 days | 2,198 sqft |
2020-03-01 | 0 days | 2,096 sqft |
2020-04-01 | 0 days | 1,955 sqft |
2020-05-01 | 0 days | 1,888 sqft |
2020-06-01 | 0 days | 1,828 sqft |
2020-07-01 | 0 days | 1,814 sqft |
2020-08-01 | 0 days | 1,986 sqft |
2020-09-01 | 0 days | 2,143 sqft |
2020-10-01 | 0 days | 1,920 sqft |
2020-11-01 | 0 days | 1,902 sqft |
2020-12-01 | 0 days | 1,882 sqft |
2021-01-01 | 0 days | 1,722 sqft |
2021-02-01 | 0 days | 1,621 sqft |
2021-03-01 | 0 days | 1,708 sqft |
2021-04-01 | 0 days | 1,700 sqft |
2021-05-01 | 0 days | 1,596 sqft |
2021-06-01 | 0 days | 1,684 sqft |
2021-07-01 | 0 days | 1,836 sqft |
2021-08-01 | 0 days | 1,810 sqft |
2021-09-01 | 0 days | 1,999 sqft |
2021-10-01 | 0 days | 2,172 sqft |
2021-11-01 | 0 days | 1,944 sqft |
2021-12-01 | 0 days | 2,111 sqft |
2022-01-01 | 0 days | 2,130 sqft |
2022-02-01 | 0 days | 2,105 sqft |
2022-03-01 | 0 days | 2,008 sqft |
2022-04-01 | 0 days | 2,305 sqft |
2022-05-01 | 0 days | 1,961 sqft |
2022-06-01 | 0 days | 1,835 sqft |
2022-07-01 | 0 days | 1,977 sqft |
2022-08-01 | 0 days | 2,160 sqft |
2022-09-01 | 0 days | 2,047 sqft |
2022-10-01 | 0 days | 2,121 sqft |
2022-11-01 | 0 days | 2,103 sqft |
2022-12-01 | 0 days | 2,205 sqft |
2023-01-01 | 0 days | 2,147 sqft |
2023-02-01 | 0 days | 2,015 sqft |
2023-03-01 | 0 days | 1,889 sqft |
2023-04-01 | 0 days | 1,943 sqft |
2023-05-01 | 0 days | 1,838 sqft |
2023-06-01 | 0 days | 1,927 sqft |
2023-07-01 | 0 days | 1,872 sqft |
2023-08-01 | 0 days | 1,789 sqft |
2023-09-01 | 0 days | 1,737 sqft |
2023-10-01 | 0 days | 1,835 sqft |
2023-11-01 | 0 days | 1,865 sqft |
2023-12-01 | 0 days | 1,896 sqft |
2024-01-01 | 0 days | 1,832 sqft |
2024-02-01 | 0 days | 1,918 sqft |
2024-03-01 | 0 days | 1,886 sqft |
2024-04-01 | 0 days | 1,830 sqft |
2024-05-01 | 0 days | 1,859 sqft |
2024-06-01 | 0 days | 1,859 sqft |
2024-07-01 | 0 days | 1,941 sqft |
2024-08-01 | 0 days | 1,929 sqft |
2024-09-01 | 0 days | 1,860 sqft |
2024-10-01 | 0 days | 1,944 sqft |
Norfolk's median square footage for active listings during the 2024-10-01 period was 1,944 sqft. One year prior, the average listing was 1,835 sqft.