Albemarle VA Loan Rates, Closing Costs & Stats

Albemarle, 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.

    Albemarle's 34 lenders originated 112 VA loans during 2023. The total origination value was $32,730,000, with an average VA loan value of $292,232.

    Albemarle VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albemarle averaged 6.75% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Albemarle's average VA mortgage closing costs are $5,706.

    The average rate for the prior week (2024-04-12) was 6.28% and one month ago for the week of 2024-03-15, the average rate was 6.24%.

    The average rate one year ago was 6.03%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Albemarle 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 Albemarle level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 19 6.62% $6,709
    MOVEMENT MORTGAGE, LLC 13 6.43% $7,015
    DHI MORTGAGE COMPANY, LTD. 8 5.63% $3,775
    QUICKEN LOANS, LLC 8 6.09% $10,299
    UNITED WHOLESALE MORTGAGE, LLC 6 6.37% $9,214
    NAVY FEDERAL CREDIT UNION 5 6.13% $6,530
    PENNYMAC LOAN SERVICES, LLC 4 5.19% $9,208
    LOANDEPOT.COM, LLC 4 5.44% $10,609
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.38% $5,721
    Wells Fargo Bank 3 5.79% $6,372
    CROSSCOUNTRY MORTGAGE, LLC 3 6.69% $6,749
    NEW DAY FINANCIAL, LLC 3 7.58% $15,287
    CORNERSTONE HOME LENDING, INC. 2 6.25% $6,539
    Ameris Bank 2 6.19% $7,610
    American Security Mortgage Corp. 2 6.31% $8,715
    Mid-Continent Funding, Inc. 1 6.50% $5,898
    Citizens Bank 1 6.75% $4,047
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $135
    CARDINAL FINANCIAL 1 7.25% $5,931
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $7,405
    Barrington Bank & Trust Company, N.A. 1 6.25% $7,200
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $7,233
    Pinnacle Bank 1 6.50% $4,828
    Prosperity Home Mortgage, LLC 1 6.13% $14,006
    RAPID MORTGAGE COMPANY 1 6.63% $9,514
    Regions Bank 1 6.25% $7,345
    SeaTrust Mortgage Company 1 6.12% $4,994
    Truist 1 5.70% $11,284
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $17,829
    USAA Federal Savings Bank 1 5.63% $15,723
    FREEDOM MORTGAGE CORPORATION 1 6.75% $16,156
    Equity Prime Mortgage LLC 1 7.25% $27,106
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $4,577
    Magnolia Bank 1 5.50% $15,075

    The top Albemarle VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $6,709, which is $307 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Albemarle VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,709), MOVEMENT MORTGAGE, LLC ($7,015), .

    The lowest rate Albemarle VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (6.43%), Mortgage Research Center, LLC (6.62%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Albemarle (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 $249,700 (6.9%) $317,158 (-5.5%) 0.00 250
    2018-02-01 $252,038 (2.4%) $323,624 (-9.4%) 0.00 235
    2018-03-01 $249,500 (2.6%) $340,211 (-4.9%) 0.00 241
    2018-04-01 $273,800 (9.6%) $364,002 (0.7%) 0.00 258
    2018-05-01 $275,375 (5.9%) $366,403 (1.5%) 0.00 270
    2018-06-01 $261,500 (-6.4%) $368,046 (2.0%) 0.00 281
    2018-07-01 $277,475 (-1.8%) $385,101 (6.9%) 0.00 285
    2018-08-01 $271,950 (-6.1%) $382,707 (4.0%) 0.00 295
    2018-09-01 $265,900 (-4.9%) $374,651 (1.5%) 0.00 312
    2018-10-01 $266,300 (-4.9%) $379,381 (3.6%) 0.00 301
    2018-11-01 $259,900 (-7.7%) $373,556 (4.7%) 0.00 286
    2018-12-01 $252,400 (-2.9%) $375,499 (12.9%) 0.00 264
    2019-01-01 $249,900 (0.1%) $371,400 (17.1%) 0.00 248
    2019-02-01 $256,950 (2.0%) $372,094 (15.0%) 0.00 249
    2019-03-01 $265,757 (6.5%) $385,216 (13.2%) 0.00 262
    2019-04-01 $274,850 (0.4%) $390,211 (7.2%) 0.00 285
    2019-05-01 $258,075 (-6.3%) $374,687 (2.3%) 0.00 322
    2019-06-01 $249,900 (-4.4%) $364,580 (-0.9%) 0.00 309
    2019-07-01 $249,900 (-9.9%) $358,536 (-6.9%) 0.00 291
    2019-08-01 $246,882 (-9.2%) $344,726 (-9.9%) 0.00 288
    2019-09-01 $242,955 (-8.6%) $333,412 (-11.0%) 0.00 294
    2019-10-01 $240,361 (-9.7%) $327,004 (-13.8%) 0.00 287
    2019-11-01 $249,900 (-3.9%) $338,350 (-9.4%) 0.00 264
    2019-12-01 $262,223 (3.9%) $359,826 (-4.2%) 0.00 237
    2020-01-01 $261,928 (4.8%) $365,732 (-1.5%) 0.00 201
    2020-02-01 $253,750 (-1.3%) $361,941 (-2.7%) 0.00 209
    2020-03-01 $256,200 (-3.6%) $371,032 (-3.7%) 0.00 221
    2020-04-01 $252,400 (-8.2%) $366,785 (-6.0%) 0.00 220
    2020-05-01 $259,900 (0.7%) $390,782 (4.3%) 0.00 191
    2020-06-01 $254,950 (2.0%) $388,177 (6.5%) 0.00 170
    2020-07-01 $254,950 (2.0%) $394,569 (10.1%) 0.00 155
    2020-08-01 $249,950 (1.2%) $402,941 (16.9%) 0.00 142
    2020-09-01 $239,625 (-1.4%) $380,545 (14.1%) 0.00 141
    2020-10-01 $250,000 (4.0%) $385,612 (17.9%) 0.00 133
    2020-11-01 $238,725 (-4.5%) $387,290 (14.5%) 0.00 127
    2020-12-01 $230,375 (-12.2%) $390,798 (8.6%) 0.00 119
    2021-01-01 $217,500 (-17.0%) $382,084 (4.5%) 0.00 104
    2021-02-01 $214,975 (-15.3%) $388,759 (7.4%) 0.00 93
    2021-03-01 $251,175 (-2.0%) $389,505 (5.0%) 0.00 84
    2021-04-01 $259,500 (2.8%) $423,550 (15.5%) 0.00 78
    2021-05-01 $269,000 (3.5%) $418,557 (7.1%) 0.00 94
    2021-06-01 $293,975 (15.3%) $418,169 (7.7%) 0.00 112
    2021-07-01 $299,900 (17.6%) $428,220 (8.5%) 0.00 106
    2021-08-01 $269,950 (8.0%) $386,590 (-4.1%) 0.00 128
    2021-09-01 $276,725 (15.5%) $377,211 (-0.9%) 0.00 122
    2021-10-01 $269,900 (8.0%) $350,170 (-9.2%) 0.00 108
    2021-11-01 $260,000 (8.9%) $353,111 (-8.8%) 0.00 90
    2021-12-01 $263,650 (14.4%) $332,485 (-14.9%) 0.00 96
    2022-01-01 $329,000 (51.3%) $365,557 (-4.3%) 0.00 80
    2022-02-01 $312,425 (45.3%) $360,140 (-7.4%) 0.00 62
    2022-03-01 $284,231 (13.2%) $344,032 (-11.7%) 0.00 67
    2022-04-01 $296,900 (14.4%) $382,191 (-9.8%) 0.00 71
    2022-05-01 $348,848 (29.7%) $442,774 (5.8%) 0.00 87
    2022-06-01 $348,200 (18.5%) $423,458 (1.3%) 0.00 96
    2022-07-01 $329,900 (10.0%) $410,634 (-4.1%) 0.00 127
    2022-08-01 $314,700 (16.6%) $405,905 (5.0%) 0.00 146
    2022-09-01 $301,175 (8.8%) $364,699 (-3.3%) 0.00 190
    2022-10-01 $319,950 (18.5%) $389,635 (11.3%) 0.00 203
    2022-11-01 $322,850 (24.2%) $370,480 (4.9%) 0.00 217
    2022-12-01 $302,500 (14.7%) $348,402 (4.8%) 0.00 195
    2023-01-01 $304,500 (-7.5%) $348,891 (-4.6%) 0.00 195
    2023-02-01 $330,750 (5.9%) $402,976 (11.9%) 0.00 169
    2023-03-01 $329,950 (16.1%) $440,005 (27.9%) 0.00 165
    2023-04-01 $329,900 (11.1%) $437,923 (14.6%) 0.00 152
    2023-05-01 $332,000 (-4.8%) $460,610 (4.0%) 0.00 138
    2023-06-01 $329,900 (-5.3%) $444,581 (5.0%) 0.00 155
    2023-07-01 $339,100 (2.8%) $455,675 (11.0%) 0.00 164
    2023-08-01 $347,225 (10.3%) $461,942 (13.8%) 0.00 160
    2023-09-01 $339,900 (12.9%) $458,547 (25.7%) 0.00 157
    2023-10-01 $357,963 (11.9%) $463,681 (19.0%) 0.00 168
    2023-11-01 $326,860 (1.2%) $449,055 (21.2%) 0.00 174
    2023-12-01 $325,000 (7.4%) $454,878 (30.6%) 0.00 175
    2024-01-01 $329,675 (8.3%) $448,950 (28.7%) 0.00 175
    2024-02-01 $340,350 (2.9%) $480,827 (19.3%) 0.00 162
    2024-03-01 $350,000 (6.1%) $457,539 (4.0%) 0.00 164
    Albemarle's median listing price for 2024-03-01 was $350,000, a difference of $20,050 (6.1%) versus the prior year and $9,650 versus the prior month.

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

    Albemarle's average listing price for 2024-03-01 was $457,539, a difference of $17,534 (4.0%) versus the prior year and $-23,288 versus the prior month.

    For the 2024-03-01 period, Albemarle had 164 MLS listings, a difference of 2 listings (1%) versus the prior month and -1 listings (-1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albemarle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,947 sqft
    2018-02-01 0 days 1,977 sqft
    2018-03-01 0 days 1,953 sqft
    2018-04-01 0 days 2,045 sqft
    2018-05-01 0 days 2,019 sqft
    2018-06-01 0 days 1,999 sqft
    2018-07-01 0 days 1,999 sqft
    2018-08-01 0 days 1,955 sqft
    2018-09-01 0 days 1,824 sqft
    2018-10-01 0 days 1,831 sqft
    2018-11-01 0 days 1,840 sqft
    2018-12-01 0 days 1,885 sqft
    2019-01-01 0 days 1,811 sqft
    2019-02-01 0 days 1,810 sqft
    2019-03-01 0 days 1,827 sqft
    2019-04-01 0 days 1,828 sqft
    2019-05-01 0 days 1,826 sqft
    2019-06-01 0 days 2,007 sqft
    2019-07-01 0 days 2,009 sqft
    2019-08-01 0 days 1,983 sqft
    2019-09-01 0 days 1,995 sqft
    2019-10-01 0 days 2,005 sqft
    2019-11-01 0 days 1,905 sqft
    2019-12-01 0 days 1,995 sqft
    2020-01-01 0 days 1,981 sqft
    2020-02-01 0 days 1,863 sqft
    2020-03-01 0 days 1,824 sqft
    2020-04-01 0 days 1,813 sqft
    2020-05-01 0 days 1,845 sqft
    2020-06-01 0 days 1,840 sqft
    2020-07-01 0 days 1,913 sqft
    2020-08-01 0 days 1,887 sqft
    2020-09-01 0 days 1,796 sqft
    2020-10-01 0 days 1,946 sqft
    2020-11-01 0 days 1,838 sqft
    2020-12-01 0 days 1,757 sqft
    2021-01-01 0 days 1,732 sqft
    2021-02-01 0 days 1,670 sqft
    2021-03-01 0 days 1,669 sqft
    2021-04-01 0 days 1,717 sqft
    2021-05-01 0 days 1,813 sqft
    2021-06-01 0 days 1,773 sqft
    2021-07-01 0 days 1,772 sqft
    2021-08-01 0 days 1,614 sqft
    2021-09-01 0 days 1,700 sqft
    2021-10-01 0 days 1,698 sqft
    2021-11-01 0 days 1,677 sqft
    2021-12-01 0 days 1,587 sqft
    2022-01-01 0 days 1,729 sqft
    2022-02-01 0 days 1,715 sqft
    2022-03-01 0 days 1,669 sqft
    2022-04-01 0 days 1,676 sqft
    2022-05-01 0 days 1,782 sqft
    2022-06-01 0 days 1,698 sqft
    2022-07-01 0 days 1,670 sqft
    2022-08-01 0 days 1,614 sqft
    2022-09-01 0 days 1,588 sqft
    2022-10-01 0 days 1,669 sqft
    2022-11-01 0 days 1,629 sqft
    2022-12-01 0 days 1,548 sqft
    2023-01-01 0 days 1,538 sqft
    2023-02-01 0 days 1,653 sqft
    2023-03-01 0 days 1,631 sqft
    2023-04-01 0 days 1,586 sqft
    2023-05-01 0 days 1,710 sqft
    2023-06-01 0 days 1,648 sqft
    2023-07-01 0 days 1,736 sqft
    2023-08-01 0 days 1,690 sqft
    2023-09-01 0 days 1,662 sqft
    2023-10-01 0 days 1,733 sqft
    2023-11-01 0 days 1,621 sqft
    2023-12-01 0 days 1,602 sqft
    2024-01-01 0 days 1,603 sqft
    2024-02-01 0 days 1,630 sqft
    2024-03-01 0 days 1,623 sqft
    Albemarle's median listing age (time on market) for 2024-03-01 was 0 days.

    Albemarle's median square footage for active listings during the 2024-03-01 period was 1,623 sqft. One year prior, the average listing was 1,631 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.