Rockingham VA Loan Rates, Closing Costs & Stats

Rockingham, 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.

Rockingham's 22 lenders originated 59 VA loans during 2023. The total origination value was $14,605,000, with an average VA loan value of $247,542.

Rockingham VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Rockingham averaged -0.11% for the week of 2024-11-29, compared to the national average (all VA variants) of 0% for the same period.

Rockingham's average VA mortgage closing costs are $4,839.

The average rate for the prior week (2024-11-22) was 6.46% and one month ago for the week of 2024-10-25, the average rate was 6.26%.

The average rate one year ago was 7%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.2%.

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

Rockingham 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 Rockingham level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 18 7.01% $3,289
QUICKEN LOANS, LLC 5 6.37% $9,356
NEW DAY FINANCIAL, LLC 3 7.74% $11,417
USAA Federal Savings Bank 3 7.21% $7,310
UNION HOME MORTGAGE CORP. 3 6.75% $5,658
Ameris Bank 2 6.63% $6,995
CARDINAL FINANCIAL 2 6.00% $16,966
FREEDOM MORTGAGE CORPORATION 2 6.75% $19,534
INTERCOASTAL MORTGAGE COMPANY 2 6.88% $3,579
NAVY FEDERAL CREDIT UNION 2 5.50% $600
PENNYMAC LOAN SERVICES, LLC 2 5.63% $5,448
RELIANCE FIRST CAPITAL, LLC 2 6.38% $8,397
MOVEMENT MORTGAGE, LLC 1 6.13% $5,154
CMG MORTGAGE, INC. 1 5.75% $28,929
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.50% $4,570
Barrington Bank & Trust Company, N.A. 1 6.25% $2,724
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $5,928
VERITAS FUNDING, LLC 1 6.63% $1,354
The Federal Savings Bank 1 6.13% $9,838
LOANDEPOT.COM, LLC 1 5.38% $31,924
Mid-Continent Funding, Inc. 1 6.88% $3,021
F&M Bank 1 5.38% $20,779

The top Rockingham VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $3,289, which is $6,068 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Rockingham VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($3,289), .

The lowest rate Rockingham VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.01%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Rockingham (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 $119,875 (5.2%) $140,858 (-1.8%) 0.00 128
2018-02-01 $120,875 (3.1%) $144,192 (-1.9%) 0.00 119
2018-03-01 $123,000 (7.7%) $150,444 (9.6%) 0.00 104
2018-04-01 $127,875 (11.2%) $151,987 (14.1%) 0.00 105
2018-05-01 $136,500 (24.1%) $164,025 (22.3%) 0.00 104
2018-06-01 $121,500 (10.6%) $152,509 (15.1%) 0.00 103
2018-07-01 $121,250 (12.4%) $153,246 (19.3%) 0.00 105
2018-08-01 $122,225 (11.1%) $151,337 (13.0%) 0.00 102
2018-09-01 $119,900 (0.8%) $152,461 (7.4%) 0.00 91
2018-10-01 $111,625 (-6.4%) $151,795 (3.9%) 0.00 85
2018-11-01 $129,000 (10.3%) $160,131 (15.5%) 0.00 83
2018-12-01 $127,000 (6.3%) $148,734 (4.9%) 0.00 83
2019-01-01 $121,400 (1.3%) $146,818 (4.2%) 0.00 93
2019-02-01 $120,725 (-0.1%) $146,287 (1.5%) 0.00 96
2019-03-01 $118,336 (-3.8%) $144,300 (-4.1%) 0.00 89
2019-04-01 $117,561 (-8.1%) $142,465 (-6.3%) 0.00 84
2019-05-01 $120,675 (-11.6%) $137,507 (-16.2%) 0.00 82
2019-06-01 $114,950 (-5.4%) $135,757 (-11.0%) 0.00 82
2019-07-01 $118,550 (-2.2%) $136,265 (-11.1%) 0.00 91
2019-08-01 $122,109 (-0.1%) $143,430 (-5.2%) 0.00 88
2019-09-01 $125,423 (4.6%) $152,049 (-0.3%) 0.00 80
2019-10-01 $123,482 (10.6%) $153,672 (1.2%) 0.00 75
2019-11-01 $111,400 (-13.6%) $144,316 (-9.9%) 0.00 79
2019-12-01 $101,950 (-19.7%) $147,912 (-0.6%) 0.00 70
2020-01-01 $104,725 (-13.7%) $143,579 (-2.2%) 0.00 62
2020-02-01 $103,450 (-14.3%) $144,812 (-1.0%) 0.00 70
2020-03-01 $104,725 (-11.5%) $160,415 (11.2%) 0.00 71
2020-04-01 $109,975 (-6.5%) $160,746 (12.8%) 0.00 69
2020-05-01 $120,000 (-0.6%) $168,864 (22.8%) 0.00 64
2020-06-01 $124,074 (7.9%) $178,202 (31.3%) 0.00 62
2020-07-01 $122,549 (3.4%) $170,132 (24.9%) 0.00 53
2020-08-01 $125,000 (2.4%) $161,445 (12.6%) 0.00 52
2020-09-01 $109,475 (-12.7%) $170,905 (12.4%) 0.00 44
2020-10-01 $128,250 (3.9%) $177,021 (15.2%) 0.00 41
2020-11-01 $123,400 (10.8%) $178,169 (23.5%) 0.00 40
2020-12-01 $133,925 (31.4%) $170,403 (15.2%) 0.00 43
2021-01-01 $135,700 (29.6%) $174,820 (21.8%) 0.00 37
2021-02-01 $163,000 (57.6%) $192,170 (32.7%) 0.00 34
2021-03-01 $147,950 (41.3%) $192,076 (19.7%) 0.00 36
2021-04-01 $142,675 (29.7%) $182,795 (13.7%) 0.00 41
2021-05-01 $139,500 (16.3%) $174,569 (3.4%) 0.00 30
2021-06-01 $154,675 (24.7%) $171,606 (-3.7%) 0.00 27
2021-07-01 $149,000 (21.6%) $178,755 (5.1%) 0.00 38
2021-08-01 $168,700 (35.0%) $188,066 (16.5%) 0.00 37
2021-09-01 $161,125 (47.2%) $185,589 (8.6%) 0.00 35
2021-10-01 $158,400 (23.5%) $199,656 (12.8%) 0.00 34
2021-11-01 $164,650 (33.4%) $208,329 (16.9%) 0.00 33
2021-12-01 $158,100 (18.1%) $200,967 (17.9%) 0.00 28
2022-01-01 $159,900 (17.8%) $210,754 (20.6%) 0.00 30
2022-02-01 $157,675 (-3.3%) $182,256 (-5.2%) 0.00 36
2022-03-01 $164,225 (11.0%) $228,422 (18.9%) 0.00 37
2022-04-01 $151,000 (5.8%) $230,306 (26.0%) 0.00 40
2022-05-01 $161,175 (15.5%) $232,643 (33.3%) 0.00 42
2022-06-01 $152,425 (-1.5%) $210,736 (22.8%) 0.00 45
2022-07-01 $164,900 (10.7%) $217,119 (21.5%) 0.00 41
2022-08-01 $157,063 (-6.9%) $244,785 (30.2%) 0.00 34
2022-09-01 $168,000 (4.3%) $231,563 (24.8%) 0.00 41
2022-10-01 $168,000 (6.1%) $231,661 (16.0%) 0.00 48
2022-11-01 $176,175 (7.0%) $220,384 (5.8%) 0.00 50
2022-12-01 $197,900 (25.2%) $218,332 (8.6%) 0.00 52
2023-01-01 $192,950 (20.7%) $214,033 (1.6%) 0.00 51
2023-02-01 $194,750 (23.5%) $246,254 (35.1%) 0.00 54
2023-03-01 $192,450 (17.2%) $234,383 (2.6%) 0.00 49
2023-04-01 $209,500 (38.7%) $246,284 (6.9%) 0.00 42
2023-05-01 $194,900 (20.9%) $255,349 (9.8%) 0.00 36
2023-06-01 $214,750 (40.9%) $273,408 (29.7%) 0.00 39
2023-07-01 $195,000 (18.3%) $246,807 (13.7%) 0.00 43
2023-08-01 $167,950 (6.9%) $209,231 (-14.5%) 0.00 48
2023-09-01 $195,000 (16.1%) $244,649 (5.7%) 0.00 58
2023-10-01 $214,475 (27.7%) $271,093 (17.0%) 0.00 60
2023-11-01 $209,225 (18.8%) $256,329 (16.3%) 0.00 60
2023-12-01 $212,000 (7.1%) $264,608 (21.2%) 0.00 63
2024-01-01 $199,950 (3.6%) $257,727 (20.4%) 0.00 56
2024-02-01 $219,250 (12.6%) $269,448 (9.4%) 0.00 58
2024-03-01 $227,450 (18.2%) $272,281 (16.2%) 0.00 65
2024-04-01 $232,750 (11.1%) $269,429 (9.4%) 0.00 61
2024-05-01 $233,750 (19.9%) $261,713 (2.5%) 0.00 56
2024-06-01 $230,000 (7.1%) $279,569 (2.3%) 0.00 65
2024-07-01 $226,000 (15.9%) $264,118 (7.0%) 0.00 74
2024-08-01 $230,000 (37.0%) $256,126 (22.4%) 0.00 67
2024-09-01 $220,000 (12.8%) $247,213 (1.1%) 0.00 68
2024-10-01 $214,750 (0.1%) $247,240 (-8.8%) 0.00 71
Rockingham's median listing price for 2024-10-01 was $214,750, a difference of $275 (0.1%) versus the prior year and $-5,250 versus the prior month.

Rockingham's median listing price comes in at 0% of the national average.

Rockingham's average listing price for 2024-10-01 was $247,240, a difference of $-23,853 (-8.8%) versus the prior year and $27 versus the prior month.

For the 2024-10-01 period, Rockingham had 71 MLS listings, a difference of 3 listings (4%) versus the prior month and 11 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Rockingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,677 sqft
2018-02-01 0 days 1,574 sqft
2018-03-01 0 days 1,515 sqft
2018-04-01 0 days 1,735 sqft
2018-05-01 0 days 1,721 sqft
2018-06-01 0 days 1,520 sqft
2018-07-01 0 days 1,534 sqft
2018-08-01 0 days 1,629 sqft
2018-09-01 0 days 1,667 sqft
2018-10-01 0 days 1,628 sqft
2018-11-01 0 days 1,628 sqft
2018-12-01 0 days 1,603 sqft
2019-01-01 0 days 1,603 sqft
2019-02-01 0 days 1,651 sqft
2019-03-01 0 days 1,642 sqft
2019-04-01 0 days 1,605 sqft
2019-05-01 0 days 1,588 sqft
2019-06-01 0 days 1,525 sqft
2019-07-01 0 days 1,576 sqft
2019-08-01 0 days 1,572 sqft
2019-09-01 0 days 1,592 sqft
2019-10-01 0 days 1,610 sqft
2019-11-01 0 days 1,576 sqft
2019-12-01 0 days 1,588 sqft
2020-01-01 0 days 1,560 sqft
2020-02-01 0 days 1,644 sqft
2020-03-01 0 days 1,598 sqft
2020-04-01 0 days 1,571 sqft
2020-05-01 0 days 1,644 sqft
2020-06-01 0 days 1,627 sqft
2020-07-01 0 days 1,649 sqft
2020-08-01 0 days 1,512 sqft
2020-09-01 0 days 1,536 sqft
2020-10-01 0 days 1,641 sqft
2020-11-01 0 days 1,616 sqft
2020-12-01 0 days 1,556 sqft
2021-01-01 0 days 1,520 sqft
2021-02-01 0 days 1,535 sqft
2021-03-01 0 days 1,683 sqft
2021-04-01 0 days 1,500 sqft
2021-05-01 0 days 1,566 sqft
2021-06-01 0 days 1,557 sqft
2021-07-01 0 days 1,581 sqft
2021-08-01 0 days 1,582 sqft
2021-09-01 0 days 1,606 sqft
2021-10-01 0 days 1,604 sqft
2021-11-01 0 days 1,601 sqft
2021-12-01 0 days 1,408 sqft
2022-01-01 0 days 1,456 sqft
2022-02-01 0 days 1,586 sqft
2022-03-01 0 days 1,498 sqft
2022-04-01 0 days 1,470 sqft
2022-05-01 0 days 1,583 sqft
2022-06-01 0 days 1,418 sqft
2022-07-01 0 days 1,461 sqft
2022-08-01 0 days 1,496 sqft
2022-09-01 0 days 1,522 sqft
2022-10-01 0 days 1,425 sqft
2022-11-01 0 days 1,467 sqft
2022-12-01 0 days 1,607 sqft
2023-01-01 0 days 1,570 sqft
2023-02-01 0 days 1,602 sqft
2023-03-01 0 days 1,573 sqft
2023-04-01 0 days 1,635 sqft
2023-05-01 0 days 1,650 sqft
2023-06-01 0 days 1,587 sqft
2023-07-01 0 days 1,548 sqft
2023-08-01 0 days 1,454 sqft
2023-09-01 0 days 1,564 sqft
2023-10-01 0 days 1,570 sqft
2023-11-01 0 days 1,682 sqft
2023-12-01 0 days 1,708 sqft
2024-01-01 0 days 1,639 sqft
2024-02-01 0 days 1,690 sqft
2024-03-01 0 days 1,678 sqft
2024-04-01 0 days 1,686 sqft
2024-05-01 0 days 1,682 sqft
2024-06-01 0 days 1,728 sqft
2024-07-01 0 days 1,687 sqft
2024-08-01 0 days 1,711 sqft
2024-09-01 0 days 1,614 sqft
2024-10-01 0 days 1,537 sqft
Rockingham's median listing age (time on market) for 2024-10-01 was 0 days.

Rockingham's median square footage for active listings during the 2024-10-01 period was 1,537 sqft. One year prior, the average listing was 1,570 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.