Rockingham VA Loan Rates, Closing Costs & Stats

Rockingham, 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.

    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 6.95% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.64%.

    The average rate one year ago was 6.23%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    Rockingham's median listing price for 2024-03-01 was $227,450, a difference of $35,000 (18.2%) versus the prior year and $8,200 versus the prior month.

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

    Rockingham's average listing price for 2024-03-01 was $272,281, a difference of $37,898 (16.2%) versus the prior year and $2,833 versus the prior month.

    For the 2024-03-01 period, Rockingham had 65 MLS listings, a difference of 7 listings (12%) versus the prior month and 16 listings (33%) 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
    Rockingham's median listing age (time on market) for 2024-03-01 was 0 days.

    Rockingham's median square footage for active listings during the 2024-03-01 period was 1,678 sqft. One year prior, the average listing was 1,573 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.