Danville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Danville averaged
7.02%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
7.05% and
one month ago for the week of 2024-10-03, the
average rate was 6.45%.
Danville's average rate one year ago was 7.69%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.69%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
Danville 30 Year Fixed Rate | 2024-11-07 | 7.02% |
Danville 30 Year Fixed Rate Refi | 2024-11-07 | 6.69% |
Danville 15 Year Fixed Rate | 2024-11-07 | 6% |
Danville 15 Year Fixed Rate Refi | 2024-11-07 | 6.1% |
Danville 30 Year FHA | 2024-11-07 | 6.43% |
Danville 30 Year FHA Refi | 2024-11-07 | 6.53% |
Danville 30 Year USDA | 2024-11-07 | 6.68% |
Danville 30 Year USDA Refi | 2024-11-07 | 6.28% |
Danville 30 Year VA | 2024-11-07 | 6.23% |
Danville 30 Year VA Refi | 2024-11-07 | 6.24% |
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 85 lenders originated 1,332
loans during 2023. The total origination value was $211,000,000, with an average loan value of
$158,408.
Danville's average closing costs are $4,851.
The top Danville lender as defined by loan originations is QUICKEN LOANS, LLC, with
42 loans originated. Their average total fees are
$6,379, which is $1,317
higher than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Danville lenders (with over 10 loans originated) are
American National Bank and Trust Company ($3,362), Alcova Mortgage LLC ($3,417), Wells Fargo Bank ($3,940), MOVEMENT MORTGAGE, LLC ($5,063) and First-Citizens Bank & Trust Company ($5,145).
The lowest rate Danville lenders (with over 10 loans originated) are
American National Bank and Trust Company (6.56%), First-Citizens Bank & Trust Company (6.70%), QUICKEN LOANS, LLC (6.83%), MOVEMENT MORTGAGE, LLC (6.85%) and Wells Fargo Bank (6.91%).
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
American National Bank and Trust Company | $22,395,000 | $19,935,000 | -11.0% | 9.4% |
QUICKEN LOANS, LLC | $26,010,000 | $18,675,000 | -28.2% | 8.9% |
Alcova Mortgage LLC | $16,820,000 | $17,690,000 | 5.2% | 8.4% |
MOVEMENT MORTGAGE, LLC | $23,205,000 | $15,815,000 | -31.8% | 7.5% |
First National Bank | $10,720,000 | $7,400,000 | -31.0% | 3.5% |
First-Citizens Bank & Trust Company | $7,280,000 | $7,330,000 | 0.7% | 3.5% |
UNITED WHOLESALE MORTGAGE, LLC | $2,965,000 | $7,330,000 | 147.2% | 3.5% |
Truist | $7,285,000 | $6,420,000 | -11.9% | 3.0% |
Mortgage Research Center, LLC | $5,340,000 | $5,230,000 | -2.1% | 2.5% |
MEMBER ONE | $4,505,000 | $4,340,000 | -3.7% | 2.1% |
Carter Bank & Trust | $2,855,000 | $3,500,000 | 22.6% | 1.7% |
Wells Fargo Bank | $5,490,000 | $3,355,000 | -38.9% | 1.6% |
NAVY FEDERAL CREDIT UNION | $1,820,000 | $3,280,000 | 80.2% | 1.6% |
ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $4,355,000 | $3,070,000 | -29.5% | 1.5% |
Blue Ridge Bank | $565,000 | $2,835,000 | 401.8% | 1.3% |
Bank of England | $1,475,000 | $2,735,000 | 85.4% | 1.3% |
CARDINAL FINANCIAL | $1,420,000 | $2,665,000 | 87.7% | 1.3% |
ValleyStar Credit Union | $14,245,000 | $2,230,000 | -84.3% | 1.1% |
LOANDEPOT.COM, LLC | $5,770,000 | $2,065,000 | -64.2% | 1.0% |
CNB Bank | $1,750,000 | n/a | 0.8% | |
BROKER SOLUTIONS, INC. | $760,000 | $1,660,000 | 118.4% | 0.8% |
Citizens Bank | $3,900,000 | $1,640,000 | -57.9% | 0.8% |
Atlantic Coast Mortgage, LLC | $735,000 | $1,555,000 | 111.6% | 0.7% |
LIMA ONE CAPITAL, LLC | $4,155,000 | $1,530,000 | -63.2% | 0.7% |
NEWREZ LLC | $2,070,000 | $1,525,000 | -26.3% | 0.7% |
U.S. Bank | $450,000 | $1,515,000 | 236.7% | 0.7% |
TIDEWATER MORTGAGE SERVICES, INC. | $675,000 | $1,440,000 | 113.3% | 0.7% |
JPMorgan Chase Bank | $650,000 | $1,425,000 | 119.2% | 0.7% |
Mr. Cooper ( Nationstar Mortgage ) | $2,335,000 | $1,345,000 | -42.4% | 0.6% |
AMERISAVE MORTGAGE CORPORATION | $1,995,000 | $1,325,000 | -33.6% | 0.6% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $1,665,000 | $1,310,000 | -21.3% | 0.6% |
EMBRACE HOME LOANS, INC. | $1,375,000 | $1,285,000 | -6.5% | 0.6% |
Flagstar Bank, FSB | $1,285,000 | $1,205,000 | -6.2% | 0.6% |
USAA Federal Savings Bank | $555,000 | $1,170,000 | 110.8% | 0.6% |
Virginia Credit Union, Inc. | $725,000 | $1,160,000 | 60.0% | 0.5% |
FIRST BANCORP | $505,000 | $1,135,000 | 124.8% | 0.5% |
CMG MORTGAGE, INC. | $275,000 | $1,100,000 | 300.0% | 0.5% |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,095,000 | n/a | 0.5% | |
CROSSCOUNTRY MORTGAGE, LLC | $1,015,000 | $1,085,000 | 6.9% | 0.5% |
MUTUAL OF OMAHA MORTGAGE, INC. | $545,000 | $1,065,000 | 95.4% | 0.5% |
Bank of Botetourt | $1,055,000 | n/a | 0.5% | |
PENNYMAC LOAN SERVICES, LLC | $1,575,000 | $1,055,000 | -33.0% | 0.5% |
The Federal Savings Bank | $530,000 | $1,050,000 | 98.1% | 0.5% |
STATE EMPLOYEES' | $3,980,000 | $990,000 | -75.1% | 0.5% |
THRIVE MORTGAGE, LLC | $1,005,000 | $960,000 | -4.5% | 0.5% |
RELIANCE FIRST CAPITAL, LLC | $480,000 | $920,000 | 91.7% | 0.4% |
Bank of America | $1,895,000 | $900,000 | -52.5% | 0.4% |
LENDINGHOME FUNDING CORPORATION | $865,000 | n/a | 0.4% | |
FREEDOM MORTGAGE CORPORATION | $1,750,000 | $850,000 | -51.4% | 0.4% |
The Bank of Charlotte County | $845,000 | n/a | 0.4% | |
First Bank | $1,310,000 | $840,000 | -35.9% | 0.4% |
21ST MORTGAGE CORPORATION | $735,000 | $810,000 | 10.2% | 0.4% |
Atlantic Union Bank | $935,000 | $805,000 | -13.9% | 0.4% |
NFM, INC. | $55,000 | $800,000 | 1,354.5% | 0.4% |
INTERCOASTAL MORTGAGE COMPANY | $530,000 | $785,000 | 48.1% | 0.4% |
ROYAL UNITED MORTGAGE LLC | $905,000 | $705,000 | -22.1% | 0.3% |
NEW DAY FINANCIAL, LLC | $1,350,000 | $700,000 | -48.1% | 0.3% |
FREEDOM FIRST | $665,000 | $680,000 | 2.3% | 0.3% |
DEEPHAVEN MORTGAGE LLC | $660,000 | n/a | 0.3% | |
Plains Commerce Bank | $365,000 | $650,000 | 78.1% | 0.3% |
The Fidelity Bank | $745,000 | $645,000 | -13.4% | 0.3% |
AMERICAN FINANCIAL RESOURCES, INC. | $1,010,000 | $635,000 | -37.1% | 0.3% |
Farm Credit of the Virginias, ACA | $1,490,000 | $615,000 | -58.7% | 0.3% |
LAKEVIEW LOAN SERVICING, LLC | $590,000 | $575,000 | -2.5% | 0.3% |
Prosperity Home Mortgage, LLC | $1,000,000 | $575,000 | -42.5% | 0.3% |
M&T Bank | $490,000 | $565,000 | 15.3% | 0.3% |
TD Bank | $550,000 | n/a | 0.3% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $165,000 | $540,000 | 227.3% | 0.3% |
Renasant Bank | $1,435,000 | $530,000 | -63.1% | 0.3% |
MID AMERICA MORTGAGE, INC. | $545,000 | $520,000 | -4.6% | 0.2% |
CAPITAL CENTER, L.L.C. | $485,000 | $500,000 | 3.1% | 0.2% |
HomeTrust Bank | $545,000 | $500,000 | -8.3% | 0.2% |
NATION ONE MORTGAGE CORPORATION | $605,000 | $475,000 | -21.5% | 0.2% |
First Heritage Mortgage, LLC | $940,000 | $470,000 | -50.0% | 0.2% |
PENTAGON FEDERAL CREDIT UNION | $485,000 | $455,000 | -6.2% | 0.2% |
Frontier Community Bank | $435,000 | n/a | 0.2% | |
HOMESIDE FINANCIAL, LLC | $420,000 | n/a | 0.2% | |
ZILLOW HOME LOANS, LLC | $125,000 | $420,000 | 236.0% | 0.2% |
F & M BANK CORP. | $195,000 | $410,000 | 110.3% | 0.2% |
Figure Lending LLC | $35,000 | $400,000 | 1,042.9% | 0.2% |
Century Mortgage Company DBA Century Lending Company | $385,000 | n/a | 0.2% | |
Ally Bank | $380,000 | n/a | 0.2% | |
OCMBC, INC. | $370,000 | n/a | 0.2% | |
UNION HOME MORTGAGE CORP. | $210,000 | $370,000 | 76.2% | 0.2% |
Barrington Bank & Trust Company, N.A. | $250,000 | $365,000 | 46.0% | 0.2% |
CRESCENT MORTGAGE COMPANY | $365,000 | n/a | 0.2% | |
Benchmark Community Bank | $300,000 | $355,000 | 18.3% | 0.2% |
BETTER MORTGAGE CORPORATION | $445,000 | $355,000 | -20.2% | 0.2% |
Discover Bank | $85,000 | $355,000 | 317.6% | 0.2% |
PNC Bank | $395,000 | $350,000 | -11.4% | 0.2% |
The Farmers Bank of Appomattox | $345,000 | n/a | 0.2% | |
South State Bank | $325,000 | n/a | 0.2% | |
Truliant Federal Credit Union | $555,000 | $320,000 | -42.3% | 0.2% |
Lakeview Community Capital, LLC | $240,000 | $310,000 | 29.2% | 0.1% |
MICHIGAN MUTUAL, INC. | $95,000 | $305,000 | 221.1% | 0.1% |
MIDLAND MORTGAGE CORPORATION | $145,000 | $285,000 | 96.6% | 0.1% |
FIDELITY DIRECT MORTGAGE, LLC | $275,000 | n/a | 0.1% | |
LIBERTY HOME MORTGAGE CORPORATION | $135,000 | $265,000 | 96.3% | 0.1% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $375,000 | $265,000 | -29.3% | 0.1% |
ANGEL OAK MORTGAGE SOLUTIONS LLC | $185,000 | $260,000 | 40.5% | 0.1% |
Bank of the James | $430,000 | $255,000 | -40.7% | 0.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $580,000 | $255,000 | -56.0% | 0.1% |
SIRVA MORTGAGE, INC. | $255,000 | $255,000 | 0.0% | 0.1% |
SELF-HELP Credit Union | $225,000 | n/a | 0.1% | |
GUARANTEED RATE, INC. | $405,000 | $215,000 | -46.9% | 0.1% |
Mid-Continent Funding, Inc. | $245,000 | $215,000 | -12.2% | 0.1% |
MILEND, INC. | $215,000 | n/a | 0.1% | |
SWBC MORTGAGE CORPORATION | $215,000 | n/a | 0.1% | |
Northwest Federal Credit Union | $210,000 | n/a | 0.1% | |
GREENSTATE CREDIT UNION | $195,000 | n/a | 0.1% | |
LONGBRIDGE FINANCIAL, LLC | $190,000 | n/a | 0.1% | |
CALIBER HOME LOANS, INC. | $1,450,000 | $185,000 | -87.2% | 0.1% |
Citadel Servicing Corporation | $185,000 | n/a | 0.1% | |
TOWER | $185,000 | n/a | 0.1% | |
First Horizon Bank | $180,000 | n/a | 0.1% | |
Integrity Home Mortgage Corp | $430,000 | $180,000 | -58.1% | 0.1% |
TRIAD FINANCIAL SERVICES, INC. | $25,000 | $180,000 | 620.0% | 0.1% |
Ameris Bank | $175,000 | n/a | 0.1% | |
GSF Mortgage Corporation | $175,000 | n/a | 0.1% | |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $155,000 | n/a | 0.1% | |
COASTAL Federal Credit Union | $210,000 | $155,000 | -26.2% | 0.1% |
DUPONT COMMUNITY | $635,000 | $155,000 | -75.6% | 0.1% |
GUILD MORTGAGE COMPANY | $65,000 | $155,000 | 138.5% | 0.1% |
Virginia National Bank | $580,000 | $155,000 | -73.3% | 0.1% |
LOCAL GOVERNMENT FEDERAL CREDIT UNION | $610,000 | $150,000 | -75.4% | 0.1% |
EMM LOANS LLC | $270,000 | $145,000 | -46.3% | 0.1% |
SOUTHWEST STAGE FUNDING, LLC | $230,000 | $145,000 | -37.0% | 0.1% |
RUOFF MORTGAGE COMPANY, INC. | $140,000 | n/a | 0.1% | |
AMERICAN HERITAGE LENDING, INC. | $135,000 | n/a | 0.1% | |
CIVIC FINANCIAL SERVICES, LLC | $135,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $135,000 | n/a | 0.1% | |
VILLAGE CAPITAL MORTGAGE | $310,000 | $135,000 | -56.5% | 0.1% |
ARGENT | $125,000 | n/a | 0.1% | |
First Savings Bank | $125,000 | n/a | 0.1% | |
TOP FLITE FINANCIAL, INC. | $125,000 | n/a | 0.1% | |
AMWEST FUNDING CORP. | $115,000 | n/a | 0.1% | |
DOMINION FINANCIAL SERVICES, LLC | $115,000 | n/a | 0.1% | |
FIRST COMMUNITY MORTGAGE, INC. | $115,000 | n/a | 0.1% | |
NBKC BANK | $1,195,000 | $115,000 | -90.4% | 0.1% |
PANORAMA MORTGAGE GROUP, LLC | $115,000 | n/a | 0.1% | |
Skyline National Bank | $165,000 | $115,000 | -30.3% | 0.1% |
ALLIANT CREDIT UNION | $105,000 | n/a | 0.0% | |
EASTMAN | $105,000 | n/a | 0.0% | |
AMERICAN FINANCIAL NETWORK, INC. | $95,000 | n/a | 0.0% | |
LEADERONE FINANCIAL CORPORATION | $95,000 | n/a | 0.0% | |
PLAZA HOME MORTGAGE, INC. | $95,000 | n/a | 0.0% | |
SPRING EQ, LLC | $195,000 | $90,000 | -53.8% | 0.0% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $890,000 | $85,000 | -90.4% | 0.0% |
Ixonia Bank | $85,000 | n/a | 0.0% | |
Select Bank | $195,000 | $85,000 | -56.4% | 0.0% |
Carrington Mortgage Services, LLC | $1,280,000 | $75,000 | -94.1% | 0.0% |
Northpointe Bank | $805,000 | $75,000 | -90.7% | 0.0% |
Regions Bank | $75,000 | n/a | 0.0% | |
Roxboro Savings Bank SSB | $65,000 | n/a | 0.0% | |
Service Federal Credit Union | $155,000 | $65,000 | -58.1% | 0.0% |
Coastal Community Bank | $60,000 | n/a | 0.0% | |
Citizens Bank and Trust Company | $45,000 | $55,000 | 22.2% | 0.0% |
FAY SERVICING, LLC | $280,000 | $55,000 | -80.4% | 0.0% |
Third Federal Savings and Loan Association of Cleveland | $590,000 | $50,000 | -91.5% | 0.0% |
BLUE EAGLE CREDIT UNION | $45,000 | n/a | 0.0% | |
Wintrust Bank, N.A. | $35,000 | n/a | 0.0% |
Danville's top lender by overall market share is American National Bank and Trust Company, with 9.4% market share. In second place, with 8.9%, is QUICKEN LOANS, LLC, having originated $18,675,000 in loans. In third place, with 8.4%, is Alcova Mortgage LLC, having originated $17,690,000 in loans. In fourth place, with 7.5%, is MOVEMENT MORTGAGE, LLC, having originated $15,815,000 in loans. In fifth place, with 3.5%, is First National Bank, having originated $7,400,000 in loans.
Danville, VA Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 746 | $135,210,000 | $181,247 |
Cash Out Refi | 205 | $31,125,000 | $151,829 |
Refi | 169 | $25,595,000 | $151,450 |
Other | 119 | $10,685,000 | $89,790 |
Home Improvement | 93 | $8,385,000 | $90,161 |
Danville's most frequently cited loan purpose was Home Purchase, with 746 originations. The 2nd most popular reason was Cash Out Refi, with 205 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 451 | $82,385,000 | $182,672 |
7-8% | 381 | $62,905,000 | $165,105 |
Over 8% | 215 | $21,685,000 | $100,860 |
5-6% | 164 | $28,380,000 | $173,049 |
4-5% | 18 | $2,660,000 | $147,778 |
3-4% | 4 | $520,000 | $130,000 |
<2.5% | 1 | $15,000 | $15,000 |
2.5-3% | 1 | $135,000 | $135,000 |
During 2023, Danville's most frequently originated rate bucket was 6-7%, with 451 originations.
Loan Sizing (Danville, VA MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 568 | $82,150,000 | $144,630 |
$100,000 or less | 442 | $25,670,000 | $58,077 |
$200k-400k | 273 | $72,825,000 | $266,758 |
$400k-600k | 35 | $16,405,000 | $468,714 |
$600k-1000k | 11 | $8,505,000 | $773,182 |
$Over $1MM | 3 | $5,445,000 | $1,815,000 |
Danville's loan sizing saw the bucket of loans from $100k-200k with 568 originations, totaling $82,150,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 557 | $111,605,000 | $200,368 |
60-80% | 282 | $45,290,000 | $160,603 |
20-40% | 138 | $12,660,000 | $91,739 |
40-60% | 137 | $18,765,000 | $136,971 |
Under 20% | 90 | $3,710,000 | $41,222 |
Over 100% | 17 | $4,815,000 | $283,235 |
Danville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 557 originations, totaling $111,605,000 in origination value.