Danville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Danville averaged
6.69%
for the week of 2023-03-23, compared to the national average of
6.42% for the same period.
The average rate for the prior week (2023-03-16) was
6.67% and
one month ago for the week of 2023-02-16, the
average rate was 6.59%.
Danville's average rate one year ago was 3.92%.
For refis of the same type during the week of 2023-03-23, the average rate
was 6.67%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-03-23 | 6.42% |
| Danville 30 Year Fixed Rate | 2023-03-23 | 6.69% |
| Danville 30 Year Fixed Rate Refi | 2023-03-23 | 6.67% |
| Danville 15 Year Fixed Rate | 2023-03-23 | 6.56% |
| Danville 15 Year Fixed Rate Refi | 2023-03-23 | 6.02% |
| Danville 30 Year FHA | 2023-03-23 | 6.26% |
| Danville 30 Year FHA Refi | 2023-03-23 | 5.91% |
| Danville 30 Year USDA | 2023-03-23 | 6.38% |
| Danville 30 Year USDA Refi | 2023-03-23 | 6.27% |
| Danville 30 Year VA | 2023-03-23 | 6.57% |
| Danville 30 Year VA Refi | 2023-03-23 | 5.9% |
Danville Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Danville, VA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Danville Average Closing Costs & Other Stats
Danville, VA's 105 lenders originated 1,596
loans during 2022. The total origination value was $290,960,000, with an average loan value of
$182,306.
Danville's average closing costs are $4,622.
The top Danville lender as defined by loan originations is QUICKEN LOANS, LLC, with
65 loans originated. Their average total fees are
$6,222, which is $1,630
higher than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Danville lenders (with over 10 loans originated) are
STATE EMPLOYEES' ($3,274), American National Bank and Trust Company ($3,520), Truist ($4,094), Wells Fargo Bank ($4,318) and First-Citizens Bank & Trust Company ($4,351).
The lowest rate Danville lenders (with over 10 loans originated) are
STATE EMPLOYEES' (4.49%), American National Bank and Trust Company (4.63%), Citizens Bank (4.65%), First-Citizens Bank & Trust Company (4.79%) and MOVEMENT MORTGAGE, LLC (4.80%).
Danville, VA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $45,945,000 | $26,010,000 | -43.4% | 8.9% |
| MOVEMENT MORTGAGE, LLC | $37,340,000 | $23,205,000 | -37.9% | 8.0% |
| American National Bank and Trust Company | $29,375,000 | $22,395,000 | -23.8% | 7.7% |
| Alcova Mortgage LLC | $27,600,000 | $16,820,000 | -39.1% | 5.8% |
| First Carolina Bank | $15,015,000 | n/a | 5.2% | |
| ValleyStar Credit Union | $7,115,000 | $14,245,000 | 100.2% | 4.9% |
| Merchants Bank of Indiana | $11,070,000 | n/a | 3.8% | |
| First National Bank | $7,860,000 | $10,720,000 | 36.4% | 3.7% |
| Truist | $21,175,000 | $7,285,000 | -65.6% | 2.5% |
| First-Citizens Bank & Trust Company | $13,855,000 | $7,280,000 | -47.5% | 2.5% |
| Paramount Residential Mortgage Group, Inc. | $3,365,000 | $6,970,000 | 107.1% | 2.4% |
| LOANDEPOT.COM, LLC | $7,355,000 | $5,770,000 | -21.5% | 2.0% |
| Wells Fargo Bank | $12,895,000 | $5,490,000 | -57.4% | 1.9% |
| Mortgage Research Center, LLC | $6,760,000 | $5,340,000 | -21.0% | 1.8% |
| MEMBER ONE | $560,000 | $4,505,000 | 704.5% | 1.5% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $5,770,000 | $4,355,000 | -24.5% | 1.5% |
| LIMA ONE CAPITAL, LLC | $4,155,000 | n/a | 1.4% | |
| STATE EMPLOYEES' | $2,305,000 | $3,980,000 | 72.7% | 1.4% |
| Citizens Bank | $4,700,000 | $3,900,000 | -17.0% | 1.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,955,000 | $2,965,000 | -40.2% | 1.0% |
| Carter Bank & Trust | $4,105,000 | $2,855,000 | -30.5% | 1.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,815,000 | $2,335,000 | -51.5% | 0.8% |
| NEWREZ LLC | $4,045,000 | $2,070,000 | -48.8% | 0.7% |
| AMERISAVE MORTGAGE CORPORATION | $3,735,000 | $1,995,000 | -46.6% | 0.7% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $5,845,000 | $1,905,000 | -67.4% | 0.7% |
| Bank of America | $1,900,000 | $1,895,000 | -0.3% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $2,130,000 | $1,820,000 | -14.6% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $11,130,000 | $1,750,000 | -84.3% | 0.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,305,000 | $1,665,000 | 27.6% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $5,900,000 | $1,575,000 | -73.3% | 0.5% |
| Farm Credit of the Virginias, ACA | $1,960,000 | $1,490,000 | -24.0% | 0.5% |
| Bank of England | $2,235,000 | $1,475,000 | -34.0% | 0.5% |
| Pinnacle Bank | $1,455,000 | n/a | 0.5% | |
| CALIBER HOME LOANS, INC. | $2,120,000 | $1,450,000 | -31.6% | 0.5% |
| Renasant Bank | $2,465,000 | $1,435,000 | -41.8% | 0.5% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,680,000 | $1,420,000 | -15.5% | 0.5% |
| EMBRACE HOME LOANS, INC. | $2,850,000 | $1,375,000 | -51.8% | 0.5% |
| NEW DAY FINANCIAL, LLC | $920,000 | $1,350,000 | 46.7% | 0.5% |
| First Bank | $1,310,000 | n/a | 0.5% | |
| Flagstar Bank, FSB | $2,340,000 | $1,285,000 | -45.1% | 0.4% |
| Carrington Mortgage Services, LLC | $1,945,000 | $1,280,000 | -34.2% | 0.4% |
| AgFirst Farm Credit Bank | $1,505,000 | $1,265,000 | -15.9% | 0.4% |
| NBKC BANK | $335,000 | $1,195,000 | 256.7% | 0.4% |
| LOANPAL, LLC | $435,000 | $1,030,000 | 136.8% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,055,000 | $1,015,000 | -3.8% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $525,000 | $1,010,000 | 92.4% | 0.3% |
| THRIVE MORTGAGE, LLC | $1,005,000 | n/a | 0.3% | |
| Prosperity Home Mortgage, LLC | $710,000 | $1,000,000 | 40.8% | 0.3% |
| First Heritage Mortgage, LLC | $590,000 | $940,000 | 59.3% | 0.3% |
| Atlantic Union Bank | $470,000 | $935,000 | 98.9% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $840,000 | $905,000 | 7.7% | 0.3% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $440,000 | $890,000 | 102.3% | 0.3% |
| Morgan Stanley Private Bank | $885,000 | n/a | 0.3% | |
| 1ST SIGNATURE LENDING, LLC | $225,000 | $880,000 | 291.1% | 0.3% |
| AMERICAN FINANCING CORPORATION | $570,000 | $830,000 | 45.6% | 0.3% |
| Northpointe Bank | $805,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $1,755,000 | $760,000 | -56.7% | 0.3% |
| The Fidelity Bank | $375,000 | $745,000 | 98.7% | 0.3% |
| 21ST MORTGAGE CORPORATION | $665,000 | $735,000 | 10.5% | 0.3% |
| Atlantic Coast Mortgage, LLC | $650,000 | $735,000 | 13.1% | 0.3% |
| Virginia Credit Union, Inc. | $820,000 | $725,000 | -11.6% | 0.2% |
| TIDEWATER MORTGAGE SERVICES, INC. | $760,000 | $675,000 | -11.2% | 0.2% |
| FREEDOM FIRST | $330,000 | $665,000 | 101.5% | 0.2% |
| JPMorgan Chase Bank | $2,140,000 | $650,000 | -69.6% | 0.2% |
| DUPONT COMMUNITY | $635,000 | n/a | 0.2% | |
| Fulton Bank | $630,000 | n/a | 0.2% | |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $655,000 | $610,000 | -6.9% | 0.2% |
| NATION ONE MORTGAGE CORPORATION | $455,000 | $605,000 | 33.0% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $2,330,000 | $590,000 | -74.7% | 0.2% |
| Third Federal Savings and Loan Association of Cleveland | $590,000 | n/a | 0.2% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,100,000 | $580,000 | -72.4% | 0.2% |
| Virginia National Bank | $580,000 | n/a | 0.2% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $460,000 | $570,000 | 23.9% | 0.2% |
| Blue Ridge Bank | $2,240,000 | $565,000 | -74.8% | 0.2% |
| Truliant Federal Credit Union | $445,000 | $555,000 | 24.7% | 0.2% |
| USAA Federal Savings Bank | $635,000 | $555,000 | -12.6% | 0.2% |
| HomeTrust Bank | $1,635,000 | $545,000 | -66.7% | 0.2% |
| MID AMERICA MORTGAGE, INC. | $385,000 | $545,000 | 41.6% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $715,000 | $545,000 | -23.8% | 0.2% |
| INTERCOASTAL MORTGAGE COMPANY | $125,000 | $530,000 | 324.0% | 0.2% |
| The Federal Savings Bank | $975,000 | $530,000 | -45.6% | 0.2% |
| Equity Prime Mortgage LLC | $520,000 | n/a | 0.2% | |
| FIRST BANCORP, INC. | $615,000 | $505,000 | -17.9% | 0.2% |
| M&T Bank | $410,000 | $490,000 | 19.5% | 0.2% |
| CAPITAL CENTER, L.L.C. | $445,000 | $485,000 | 9.0% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $725,000 | $485,000 | -33.1% | 0.2% |
| RELIANCE FIRST CAPITAL, LLC | $405,000 | $480,000 | 18.5% | 0.2% |
| U.S. Bank | $350,000 | $450,000 | 28.6% | 0.2% |
| BETTER MORTGAGE CORPORATION | $1,610,000 | $445,000 | -72.4% | 0.2% |
| Assurance Financial Group, L.L.C. | $230,000 | $440,000 | 91.3% | 0.2% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $585,000 | $435,000 | -25.6% | 0.1% |
| Bank of the James | $125,000 | $430,000 | 244.0% | 0.1% |
| Integrity Home Mortgage Corp | $430,000 | n/a | 0.1% | |
| Congressional Bank | $420,000 | n/a | 0.1% | |
| Colonial Savings, F.A. | $410,000 | n/a | 0.1% | |
| GUARANTEED RATE, INC. | $860,000 | $405,000 | -52.9% | 0.1% |
| PNC Bank | $680,000 | $395,000 | -41.9% | 0.1% |
| ANGEL OAK HOME LOANS LLC | $310,000 | $375,000 | 21.0% | 0.1% |
| GENEVA FINANCIAL, LLC | $375,000 | n/a | 0.1% | |
| HOMESPIRE MORTGAGE CORPORATION | $375,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $375,000 | n/a | 0.1% | |
| LEGEND LENDING CORPORATION | $370,000 | n/a | 0.1% | |
| Plains Commerce Bank | $365,000 | n/a | 0.1% | |
| American Security Mortgage Corp. | $350,000 | n/a | 0.1% | |
| AMERICAN ADVISORS GROUP | $440,000 | $335,000 | -23.9% | 0.1% |
| ROUNDPOINT MORTGAGE SERVICING CORPORATION | $425,000 | $330,000 | -22.4% | 0.1% |
| Metro City Bank | $315,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $560,000 | $310,000 | -44.6% | 0.1% |
| Capital Bank | $305,000 | n/a | 0.1% | |
| The Central Trust Bank | $305,000 | n/a | 0.1% | |
| APEX HOME LOANS, INC. | $1,865,000 | $300,000 | -83.9% | 0.1% |
| Benchmark Community Bank | $220,000 | $300,000 | 36.4% | 0.1% |
| FAY SERVICING, LLC | $135,000 | $280,000 | 107.4% | 0.1% |
| HOME POINT FINANCIAL CORPORATION | $2,320,000 | $280,000 | -87.9% | 0.1% |
| CMG MORTGAGE, INC. | $275,000 | n/a | 0.1% | |
| EMM LOANS LLC | $270,000 | n/a | 0.1% | |
| MCLEAN MORTGAGE CORPORATION | $240,000 | $270,000 | 12.5% | 0.1% |
| Towne Bank | $265,000 | n/a | 0.1% | |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $300,000 | $255,000 | -15.0% | 0.1% |
| SIRVA MORTGAGE, INC. | $185,000 | $255,000 | 37.8% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $725,000 | $250,000 | -65.5% | 0.1% |
| United Bank | $385,000 | $250,000 | -35.1% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $125,000 | $245,000 | 96.0% | 0.1% |
| Mid-Continent Funding, Inc. | $940,000 | $245,000 | -73.9% | 0.1% |
| Lakeview Community Capital, LLC | $830,000 | $240,000 | -71.1% | 0.1% |
| BAYSHORE MORTGAGE FUNDING, LLC | $235,000 | n/a | 0.1% | |
| Towne Mortgage of the Carolinas, LLC | $235,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $230,000 | n/a | 0.1% | |
| First National Bank of Pennsylvania | $15,000 | $225,000 | 1,400.0% | 0.1% |
| First United Bank and Trust Company | $215,000 | n/a | 0.1% | |
| COASTAL Federal Credit Union | $195,000 | $210,000 | 7.7% | 0.1% |
| UNION HOME MORTGAGE CORP. | $210,000 | n/a | 0.1% | |
| F & M BANK CORP. | $195,000 | n/a | 0.1% | |
| Hometown Lenders, Inc. | $225,000 | $195,000 | -13.3% | 0.1% |
| Select Bank | $195,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $195,000 | n/a | 0.1% | |
| VAN DYK MORTGAGE CORPORATION | $195,000 | n/a | 0.1% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $175,000 | $190,000 | 8.6% | 0.1% |
| OVM FINANCIAL, INC. | $855,000 | $190,000 | -77.8% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $185,000 | n/a | 0.1% | |
| GoPrime Mortgage, Inc. | $185,000 | n/a | 0.1% | |
| Nations Lending Corporation | $510,000 | $180,000 | -64.7% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $440,000 | $165,000 | -62.5% | 0.1% |
| North State Bank | $165,000 | n/a | 0.1% | |
| Skyline National Bank | $165,000 | n/a | 0.1% | |
| Service Federal Credit Union | $155,000 | n/a | 0.1% | |
| MIDLAND MORTGAGE CORPORATION | $185,000 | $145,000 | -21.6% | 0.0% |
| RANLIFE, INC. | $145,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $25,000 | $135,000 | 440.0% | 0.0% |
| Hometown Equity Mortgage, LLC | $265,000 | $135,000 | -49.1% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $135,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $135,000 | n/a | 0.0% | |
| Abbott Laboratories Employees Credit Union | $125,000 | n/a | 0.0% | |
| Austin Capital Bank SSB | $125,000 | n/a | 0.0% | |
| C & F Mortgage Corporation | $125,000 | n/a | 0.0% | |
| CLEARPATH LENDING | $630,000 | $125,000 | -80.2% | 0.0% |
| GUARANTY HOME MORTGAGE CORPORATION | $260,000 | $125,000 | -51.9% | 0.0% |
| Southern Bank and Trust Company | $125,000 | n/a | 0.0% | |
| Tidewater Home Funding, LLC | $125,000 | $125,000 | 0.0% | 0.0% |
| ZILLOW HOME LOANS, LLC | $125,000 | n/a | 0.0% | |
| First Home Bank | $235,000 | $115,000 | -51.1% | 0.0% |
| SUN WEST MORTGAGE COMPANY, INC. | $210,000 | $115,000 | -45.2% | 0.0% |
| The Freedom Bank of Virginia | $355,000 | $115,000 | -67.6% | 0.0% |
| CHEVRON | $105,000 | n/a | 0.0% | |
| First Reliance Bank | $95,000 | $105,000 | 10.5% | 0.0% |
| LOGIX FEDERAL CREDIT UNION | $105,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $105,000 | n/a | 0.0% | |
| SOFI LENDING CORP. | $225,000 | $105,000 | -53.3% | 0.0% |
| SUMMIT FUNDING, INC. | $105,000 | n/a | 0.0% | |
| AMERIFIRST FINANCIAL CORPORATION | $95,000 | n/a | 0.0% | |
| MICHIGAN MUTUAL, INC. | $95,000 | n/a | 0.0% | |
| MLD MORTGAGE INC. | $95,000 | n/a | 0.0% | |
| S1L, Inc. | $95,000 | n/a | 0.0% | |
| Discover Bank | $35,000 | $85,000 | 142.9% | 0.0% |
| Marine Federal Credit Union | $85,000 | n/a | 0.0% | |
| Watermark Capital, Inc. | $85,000 | n/a | 0.0% | |
| FINANCE OF AMERICA MORTGAGE LLC | $350,000 | $75,000 | -78.6% | 0.0% |
| Waterstone Mortgage Corporation | $75,000 | n/a | 0.0% | |
| EVERETT FINANCIAL, INC. | $65,000 | n/a | 0.0% | |
| GUILD MORTGAGE COMPANY | $175,000 | $65,000 | -62.9% | 0.0% |
| LATINO COMMUNITY CREDIT UNION | $65,000 | n/a | 0.0% | |
| Capital City Home Loans, LLC | $55,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.0% | |
| First Guaranty Mortgage Corporation | $320,000 | $55,000 | -82.8% | 0.0% |
| NFM, INC. | $125,000 | $55,000 | -56.0% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $45,000 | n/a | 0.0% | |
| Citizens Bank and Trust Company | $85,000 | $45,000 | -47.1% | 0.0% |
| MORIA DEVELOPMENT, INC. | $200,000 | $45,000 | -77.5% | 0.0% |
| Figure Lending LLC | $110,000 | $35,000 | -68.2% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $170,000 | $25,000 | -85.3% | 0.0% |
| UNITED | $25,000 | n/a | 0.0% |
Danville's top lender by overall market share is QUICKEN LOANS, LLC, with 8.9% market share. In second place, with 8.0%, is MOVEMENT MORTGAGE, LLC, having originated $23,205,000 in loans. In third place, with 7.7%, is American National Bank and Trust Company, having originated $22,395,000 in loans. In fourth place, with 5.8%, is Alcova Mortgage LLC, having originated $16,820,000 in loans. In fifth place, with 5.2%, is First Carolina Bank, having originated $15,015,000 in loans.
Danville, VA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 866 | $176,440,000 | $203,741 |
| Refi | 284 | $50,610,000 | $178,204 |
| Cash Out Refi | 275 | $45,135,000 | $164,127 |
| Other | 94 | $10,420,000 | $110,851 |
| Home Improvement | 76 | $8,290,000 | $109,079 |
| NA | 1 | $65,000 | $65,000 |
Danville's most frequently cited loan purpose was Home Purchase, with 866 originations. The 2nd most popular reason was Refi, with 284 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 400 | $66,020,000 | $165,050 |
| 4-5% | 373 | $57,205,000 | $153,365 |
| 3-4% | 333 | $76,725,000 | $230,405 |
| 6-7% | 193 | $31,635,000 | $163,912 |
| 2.5-3% | 79 | $12,905,000 | $163,354 |
| 7-8% | 58 | $8,560,000 | $147,586 |
| Over 8% | 34 | $3,120,000 | $91,765 |
| <2.5% | 28 | $4,210,000 | $150,357 |
During 2022, Danville's most frequently originated rate bucket was 5-6%, with 400 originations.
Loan Sizing (Danville, VA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 712 | $102,870,000 | $144,480 |
| $100,000 or less | 517 | $32,645,000 | $63,143 |
| $200k-400k | 315 | $83,695,000 | $265,698 |
| $400k-600k | 23 | $10,735,000 | $466,739 |
| $600k-1000k | 20 | $14,370,000 | $718,500 |
| $Over $1MM | 9 | $46,645,000 | $5,182,778 |
Danville's loan sizing saw the bucket of loans from $100k-200k with 712 originations, totaling $102,870,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 700 | $129,830,000 | $185,471 |
| 60-80% | 383 | $69,265,000 | $180,849 |
| 40-60% | 175 | $26,645,000 | $152,257 |
| 20-40% | 123 | $9,485,000 | $77,114 |
| Under 20% | 86 | $6,750,000 | $78,488 |
| Over 100% | 29 | $18,145,000 | $625,690 |
Danville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 700 originations, totaling $129,830,000 in origination value.