Asheville VA Loans

ASHEVILLE, 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.

Asheville's 128 lenders originated 1,484 VA loans during 2021. The total origination value was $429,230,000, with an average VA loan value of $289,239.

Asheville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Asheville averaged 6.22% for the week of 2022-09-23, compared to the national average (all VA variants) of 5.992% for the same period.

The average rate for the prior week (2022-09-16) was 5.87% and one month ago for the week of 2022-08-19, the average rate was 5.53%.

The average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-09-23, the average rate was 5.95%.

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

Asheville VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Asheville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 163 2.46% $5,531
Mortgage Research Center, LLC 135 2.81% $6,654
FREEDOM MORTGAGE CORPORATION 111 2.40% $2,717
PENNYMAC LOAN SERVICES, LLC 54 2.38% $6,561
NAVY FEDERAL CREDIT UNION 50 2.47% $4,499
MOVEMENT MORTGAGE, LLC 46 2.65% $4,947
USAA Federal Savings Bank 46 2.86% $5,646
LOANDEPOT.COM, LLC 43 2.46% $6,400
NEW DAY FINANCIAL, LLC 42 2.95% $9,448
VILLAGE CAPITAL MORTGAGE 37 2.17% $3,292
UNITED WHOLESALE MORTGAGE, LLC 32 2.60% $6,670
LAKEVIEW LOAN SERVICING, LLC 28 2.48% $2,081
GUARANTEED RATE, INC. 26 2.60% $6,683
CLEARPATH LENDING 19 2.36% $5,039
The Federal Savings Bank 19 2.75% $8,820
CALIBER HOME LOANS, INC. 18 2.48% $4,085
Mr. Cooper ( Nationstar Mortgage ) 17 2.78% $4,962
Wells Fargo Bank 16 2.59% $3,773
PENTAGON FEDERAL CREDIT UNION 15 2.33% $5,814
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 14 3.02% $6,520
First Guaranty Mortgage Corporation 14 2.34% $3,767
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 13 2.83% $8,505
AMERICAN FINANCIAL NETWORK, INC. 13 2.50% $7,346
HOME POINT FINANCIAL CORPORATION 13 2.54% $3,905
UNION HOME MORTGAGE CORP. 12 2.68% $4,332
InterContinental Capital Group, Inc 11 2.39% $5,263
Flagstar Bank, FSB 10 2.51% $5,166
Barrington Bank & Trust Company, N.A. 10 2.82% $5,567
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 3.08% $11,918
GoPrime Mortgage, Inc. 9 3.12% $5,182
NEWREZ LLC 8 2.59% $3,939
Magnolia Bank 7 2.43% $5,842
Citizens Bank 7 2.54% $8,768
NP, Inc. 7 2.41% $4,094
Low VA Rates, LLC 7 2.80% $3,330
PLANET HOME LENDING, LLC 6 2.42% $1,653
ACOPIA, LLC 6 2.69% $2,981
Carrington Mortgage Services, LLC 6 2.40% $4,296
BROKER SOLUTIONS, INC. 6 2.81% $6,753
Mid-Continent Funding, Inc. 6 2.52% $8,139
AMERISAVE MORTGAGE CORPORATION 6 2.25% $10,087
DHI MORTGAGE COMPANY, LTD. 6 2.71% $4,180
STEARNS LENDING, LLC 6 2.42% $5,623
Alcova Mortgage LLC 6 3.38% $5,841
RADIUS FINANCIAL GROUP INC. 5 3.05% $4,258
BAY EQUITY LLC 5 2.75% $8,374
Wyndham Capital Mortgage, Inc. 4 2.41% $5,529
ACCELERATE MORTGAGE, LLC 4 2.38% $9,212
AMERICAN FINANCING CORPORATION 4 2.44% $4,991
AMERIFIRST FINANCIAL CORPORATION 4 3.00% $8,999
Amerifirst Financial, Inc. 4 2.91% $2,940
Champion Credit Union 4 3.00% $4,134
First-Citizens Bank & Trust Company 4 2.59% $11,901
First Home Bank 4 2.84% $4,995
NBKC BANK 4 2.34% $8,373
North American Savings Bank, F.S.B. 4 2.44% $573
SUN WEST MORTGAGE COMPANY, INC. 4 2.59% $6,758
Nations Lending Corporation 3 2.88% $4,779
First Federal Bank 3 2.38% $6,567
Ameris Bank 3 2.71% $9,432
RELIANCE FIRST CAPITAL, LLC 3 2.63% $9,424
SOVEREIGN LENDING GROUP INCORPORATED 3 2.75% $5,388
AmeriHome Mortgage Company, LLC 3 2.83% $2,254
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.46% $3,125
CROSSCOUNTRY MORTGAGE, LLC 3 3.08% $8,168
FINANCE OF AMERICA MORTGAGE LLC 3 2.50% $11,657
First Bank 3 2.42% $9,595
1ST SIGNATURE LENDING, LLC 3 3.08% $8,724
Truist 3 2.75% $1,795
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.29% $11,695
GUILD MORTGAGE COMPANY 2 2.88% $9,765
First Mortgage Solutions, LLC 2 2.56% $11,040
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 2.87% $2,786
LENDUS, LLC 2 3.06% $9,190
MILEND, INC. 2 4.00% $10,965
DIRECT MORTGAGE LOANS, LLC 2 3.19% $13,303
CMG MORTGAGE, INC. 2 3.00% $8,950
Uwharrie Bank 2 2.63% $2,310
HOMESTAR FINANCIAL CORPORATION 2 3.06% $2,852
ONY GLO, INC. 1 2.00% $3,542
GENEVA FINANCIAL, LLC 1 3.25% $10,728
Credence Funding Corporation 1 2.25% $5,666
CONTOUR MORTGAGE CORPORATION 1 2.25% $4,571
Colten Mortgage, LLC 1 3.13% $14,895
PLAZA HOME MORTGAGE, INC. 1 2.25% $6,802
PNC Bank 1 2.88% $1,707
POLARIS HOME FUNDING CORP. 1 2.25% $3,719
Prime Choice Funding Inc. 1 1.88% $5,988
Blue Ridge Bank 1 2.25% $4,281
SeaTrust Mortgage Company 1 2.75% $17,371
SOUTHERN TRUST MORTGAGE, LLC 1 2.75% $10,415
South State Bank 1 2.25% $10,969
BELEM SERVICING LLC 1 2.25% $3,941
Strong Home Mortgage, LLC 1 2.38% $2,342
SUCCESS MORTGAGE PARTNERS, INC. 1 3.13% $9,429
BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $4,125
THRIVE MORTGAGE, LLC 1 3.13% $3,832
THRIVENT Federal Credit Union 1 2.88% $8,491
TJC Mortgage, Inc. 1 2.25% $19,653
TOWNE MORTGAGE COMPANY 1 2.75% $2,987
Armed Forces Bank 1 2.75% $2,378
United Community Bank 1 2.75% $1,080
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.75% $1,890
U.S. Bank 1 3.25% $1,905
GUARANTEED RATE AFFINITY, LLC 1 2.38% $10,428
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $12,546
PANORAMA MORTGAGE GROUP, LLC 1 3.00% $8,087
Gateway First Bank 1 2.88% $15,008
HOMESIDE FINANCIAL, LLC 1 2.50% $5,767
HOMESPIRE MORTGAGE CORPORATION 1 4.25% $0
HOMESTEAD FUNDING CORP. 1 2.63% $868
INTERCOASTAL MORTGAGE COMPANY 1 2.75% $2,367
FLAT BRANCH MORTGAGE, INC. 1 3.13% $13,259
KS StateBank 1 2.25% $17,585
LOANLEADERS OF AMERICA, INC. 1 2.25% $4,751
LOANPAL, LLC 1 2.25% $12,566
FIRST COMMUNITY MORTGAGE, INC. 1 2.75% $2,791
MANN FINANCIAL INC. 1 2.88% $12,484
MORTGAGE INVESTORS GROUP, INC. 1 2.88% $11,121
Mortgage Lenders Investment Trading Corporation 1 3.25% $4,758
FIDELITY BANK 1 3.50% $15,833
FAMILY FIRST FUNDING LLC 1 3.75% $9,552
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.63% $9,100
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.13% $4,255
Watermark Capital, Inc. 1 2.25% $3,210
EMBRACE HOME LOANS, INC. 1 2.25% $2,658
American Security Mortgage Corp. 1 2.75% $5,687
Northpointe Bank 1 2.88% $18,424

The top Asheville VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 163 VA loans originated. Their average total fees are $5,531, which is $1,123 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Asheville VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,081), FREEDOM MORTGAGE CORPORATION ($2,717), VILLAGE CAPITAL MORTGAGE ($3,292), First Guaranty Mortgage Corporation ($3,767) and Wells Fargo Bank ($3,773).

The lowest rate Asheville VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (2.17%), PENTAGON FEDERAL CREDIT UNION (2.33%), First Guaranty Mortgage Corporation (2.34%), CLEARPATH LENDING (2.36%) and PENNYMAC LOAN SERVICES, LLC (2.38%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Asheville (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 $361,950 (3.4%) $518,865 (-0.6%) 1.33 3,490
2018-02-01 $350,000 (-3.7%) $497,894 (-6.5%) 1.26 2,397
2018-03-01 $357,000 (-1.9%) $501,705 (-5.7%) 1.24 2,443
2018-04-01 $358,950 (-3.0%) $498,384 (-6.3%) 1.20 2,568
2018-05-01 $366,950 (-2.5%) $497,446 (-7.8%) 1.22 2,669
2018-06-01 $388,000 (2.2%) $533,582 (-0.3%) 1.29 2,595
2018-07-01 $389,250 (3.0%) $528,386 (-0.8%) 1.30 2,701
2018-08-01 $389,000 (2.4%) $521,152 (-3.9%) 1.30 2,805
2018-09-01 $384,900 (1.3%) $521,123 (-4.0%) 1.29 2,916
2018-10-01 $379,900 (0.8%) $517,009 (-4.7%) 1.27 3,005
2018-11-01 $379,000 (-0.2%) $513,652 (-4.9%) 1.27 2,888
2018-12-01 $375,000 (-1.1%) $513,931 (-4.6%) 1.28 2,672
2019-01-01 $379,450 (4.8%) $522,483 (0.7%) 1.31 2,367
2019-02-01 $377,450 (7.8%) $525,238 (5.5%) 1.26 2,273
2019-03-01 $385,857 (8.1%) $535,638 (6.8%) 1.26 2,361
2019-04-01 $397,000 (10.6%) $550,200 (10.4%) 1.25 2,484
2019-05-01 $399,999 (9.0%) $561,242 (12.8%) 1.23 2,606
2019-06-01 $399,500 (3.0%) $559,290 (4.8%) 1.23 2,806
2019-07-01 $399,000 (2.5%) $552,334 (4.5%) 1.24 2,822
2019-08-01 $399,514 (2.7%) $553,592 (6.2%) 1.26 2,807
2019-09-01 $399,000 (3.7%) $550,664 (5.7%) 1.27 2,786
2019-10-01 $399,250 (5.1%) $548,554 (6.1%) 1.27 2,885
2019-11-01 $399,000 (5.3%) $549,365 (7.0%) 1.29 2,704
2019-12-01 $399,000 (6.4%) $547,833 (6.6%) 1.33 2,388
2020-01-01 $399,868 (5.4%) $559,747 (7.1%) 1.33 2,081
2020-02-01 $403,900 (7.0%) $561,832 (7.0%) 1.30 1,881
2020-03-01 $407,762 (5.7%) $566,517 (5.8%) 1.27 1,918
2020-04-01 $399,700 (0.7%) $554,593 (0.8%) 1.25 2,075
2020-05-01 $420,000 (5.0%) $576,998 (2.8%) 1.27 2,072
2020-06-01 $427,000 (6.9%) $596,025 (6.6%) 1.25 2,000
2020-07-01 $429,450 (7.6%) $604,750 (9.5%) 1.23 1,906
2020-08-01 $429,000 (7.4%) $614,339 (11.0%) 1.23 1,709
2020-09-01 $444,500 (11.4%) $649,970 (18.0%) 1.27 1,614
2020-10-01 $449,900 (12.7%) $659,890 (20.3%) 1.29 1,592
2020-11-01 $453,500 (13.7%) $671,719 (22.3%) 1.30 1,459
2020-12-01 $467,000 (17.0%) $685,040 (25.1%) 1.37 1,313
2021-01-01 $463,000 (15.8%) $690,394 (23.3%) 1.36 1,096
2021-02-01 $449,500 (11.3%) $686,681 (22.2%) 1.29 937
2021-03-01 $457,500 (12.2%) $696,715 (23.0%) 1.28 825
2021-04-01 $467,750 (17.0%) $717,828 (29.4%) 1.26 850
2021-05-01 $480,000 (14.3%) $731,972 (26.9%) 1.26 872
2021-06-01 $475,000 (11.2%) $712,249 (19.5%) 1.23 1,095
2021-07-01 $457,005 (6.4%) $691,270 (14.3%) 1.19 1,197
2021-08-01 $449,950 (4.9%) $694,250 (13.0%) 1.18 1,234
2021-09-01 $458,505 (3.2%) $720,786 (10.9%) 1.21 1,204
2021-10-01 $469,000 (4.3%) $729,536 (10.6%) 1.23 1,160
2021-11-01 $471,210 (3.9%) $740,594 (10.3%) 1.24 1,017
2021-12-01 $479,985 (2.8%) $771,661 (12.6%) 1.28 877
2022-01-01 $499,900 (8.0%) $841,176 (21.8%) 1.33 679
2022-02-01 $542,400 (20.7%) $923,648 (34.5%) 1.38 550
2022-03-01 $565,000 (23.5%) $945,259 (35.7%) 1.40 520
2022-04-01 $559,900 (19.7%) $900,177 (25.4%) 1.32 614
2022-05-01 $570,000 (18.8%) $879,720 (20.2%) 1.28 838
2022-06-01 $564,950 (18.9%) $838,240 (17.7%) 1.26 979
2022-07-01 $544,000 (19.0%) $804,008 (16.3%) 1.21 1,152
2022-08-01 $524,950 (16.7%) $771,801 (11.2%) 1.21 1,179
Asheville's median listing price for 2022-08-01 was $524,950, a difference of $75,000 (16.7%) versus the prior year and $-19,050 versus the prior month.

Asheville's median listing price comes in at 121% of the national average.

Asheville's average listing price for 2022-08-01 was $771,801, a difference of $77,551 (11.2%) versus the prior year and $-32,207 versus the prior month.

For the 2022-08-01 period, Asheville had 1,179 MLS listings, a difference of 27 listings (2%) versus the prior month and -55 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Asheville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 75 days 2,212 sqft
2018-02-01 57 days 2,196 sqft
2018-03-01 72 days 2,151 sqft
2018-04-01 98 days 2,154 sqft
2018-05-01 92 days 2,166 sqft
2018-06-01 76 days 2,164 sqft
2018-07-01 76 days 2,200 sqft
2018-08-01 80 days 2,194 sqft
2018-09-01 84 days 2,182 sqft
2018-10-01 88 days 2,150 sqft
2018-11-01 91 days 2,128 sqft
2018-12-01 106 days 2,104 sqft
2019-01-01 123 days 2,094 sqft
2019-02-01 129 days 2,078 sqft
2019-03-01 123 days 2,129 sqft
2019-04-01 79 days 2,182 sqft
2019-05-01 71 days 2,231 sqft
2019-06-01 70 days 2,225 sqft
2019-07-01 74 days 2,213 sqft
2019-08-01 83 days 2,191 sqft
2019-09-01 86 days 2,174 sqft
2019-10-01 89 days 2,163 sqft
2019-11-01 92 days 2,144 sqft
2019-12-01 99 days 2,133 sqft
2020-01-01 113 days 2,132 sqft
2020-02-01 119 days 2,125 sqft
2020-03-01 111 days 2,119 sqft
2020-04-01 88 days 2,081 sqft
2020-05-01 88 days 2,149 sqft
2020-06-01 90 days 2,176 sqft
2020-07-01 78 days 2,204 sqft
2020-08-01 77 days 2,180 sqft
2020-09-01 75 days 2,214 sqft
2020-10-01 70 days 2,176 sqft
2020-11-01 72 days 2,144 sqft
2020-12-01 81 days 2,109 sqft
2021-01-01 92 days 2,048 sqft
2021-02-01 97 days 1,981 sqft
2021-03-01 79 days 1,941 sqft
2021-04-01 55 days 1,934 sqft
2021-05-01 45 days 1,991 sqft
2021-06-01 40 days 1,945 sqft
2021-07-01 44 days 1,923 sqft
2021-08-01 52 days 1,874 sqft
2021-09-01 57 days 1,903 sqft
2021-10-01 59 days 1,931 sqft
2021-11-01 63 days 1,911 sqft
2021-12-01 75 days 1,928 sqft
2022-01-01 85 days 1,944 sqft
2022-02-01 88 days 1,942 sqft
2022-03-01 67 days 2,039 sqft
2022-04-01 37 days 2,010 sqft
2022-05-01 35 days 2,077 sqft
2022-06-01 37 days 2,055 sqft
2022-07-01 41 days 2,030 sqft
2022-08-01 49 days 2,033 sqft
Asheville's median listing age (time on market) for 2022-08-01 was 49 days. This is -6% shorter than the same period one year ago.

Asheville's median square footage for active listings during the 2022-08-01 period was 2,033 sqft. One year prior, the average listing was 1,874 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.