Albemarle VA Loan Rates, Closing Costs & Stats

Albemarle, 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.

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 6.19% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.5% and one month ago for the week of 2024-04-12, the average rate was 6.48%.

The average rate one year ago was 6.19%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.7%.

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
2024-04-01 $360,875 (9.4%) $462,667 (5.7%) 0.00 158
Albemarle's median listing price for 2024-04-01 was $360,875, a difference of $30,975 (9.4%) versus the prior year and $10,875 versus the prior month.

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

Albemarle's average listing price for 2024-04-01 was $462,667, a difference of $24,744 (5.7%) versus the prior year and $5,128 versus the prior month.

For the 2024-04-01 period, Albemarle had 158 MLS listings, a difference of -6 listings (-4%) versus the prior month and 6 listings (4%) 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 1,622 sqft
2024-04-01 0 days 1,671 sqft
Albemarle's median listing age (time on market) for 2024-04-01 was 0 days.

Albemarle's median square footage for active listings during the 2024-04-01 period was 1,671 sqft. One year prior, the average listing was 1,586 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.