Asheville VA Loan Rates, Closing Costs & Stats

ASHEVILLE, NC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 67 lenders originated 363 VA loans during 2023. The total origination value was $140,675,000, with an average VA loan value of $387,534.

    Asheville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Asheville averaged 6.45% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Asheville's average VA mortgage closing costs are $6,301.

    The average rate for the prior week (2024-11-01) was 6.21% and one month ago for the week of 2024-10-04, the average rate was 5.74%.

    The average rate one year ago was 7.29%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.48%.

    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/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Asheville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 71 6.58% $8,949
    QUICKEN LOANS, LLC 34 6.12% $12,855
    UNITED WHOLESALE MORTGAGE, LLC 23 6.09% $11,195
    NAVY FEDERAL CREDIT UNION 19 5.90% $6,613
    MOVEMENT MORTGAGE, LLC 19 6.45% $3,885
    DHI MORTGAGE COMPANY, LTD. 19 5.55% $4,492
    USAA Federal Savings Bank 14 6.09% $11,184
    FREEDOM MORTGAGE CORPORATION 10 6.28% $16,616
    HOWARD HANNA FINANCIAL SERVICES, INC. 10 6.34% $7,288
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 10 6.65% $11,116
    LOANDEPOT.COM, LLC 9 5.96% $10,573
    NEW DAY FINANCIAL, LLC 8 7.31% $13,061
    GUARANTEED RATE, INC. 8 6.27% $9,259
    PENTAGON FEDERAL CREDIT UNION 6 6.04% $7,950
    Wells Fargo Bank 5 6.00% $7,162
    Mr. Cooper ( Nationstar Mortgage ) 4 6.19% $17,601
    UNION HOME MORTGAGE CORP. 4 7.13% $9,590
    The Federal Savings Bank 4 6.09% $19,056
    VILLAGE CAPITAL MORTGAGE 4 6.47% $13,975
    PENNYMAC LOAN SERVICES, LLC 4 5.37% $11,890
    CMG MORTGAGE, INC. 3 6.96% $18,325
    GoPrime Mortgage, Inc. 2 5.75% $7,871
    CROSSCOUNTRY MORTGAGE, LLC 2 6.94% $24,140
    Alcova Mortgage LLC 2 7.06% $10,530
    EVERETT FINANCIAL, INC. 2 6.63% $11,582
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.69% $5,766
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.62% $8,899
    NEWREZ LLC 2 6.00% $14,968
    RADIUS FINANCIAL GROUP INC. 2 6.31% $7,876
    RELIANCE FIRST CAPITAL, LLC 2 6.50% $8,226
    CARDINAL FINANCIAL 2 6.50% $17,439
    SUN WEST MORTGAGE COMPANY, INC. 2 6.56% $9,872
    Barrington Bank & Trust Company, N.A. 2 6.00% $7,735
    United Community Bank 2 6.31% $7,004
    The Central Trust Bank 1 5.25% $3,034
    AMERICAN FINANCING CORPORATION 1 6.99% $8,879
    BAY EQUITY LLC 1 5.99% $16,132
    Blue Ridge Bank 1 6.62% $4,204
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $6,426
    DELMAR FINANCIAL COMPANY 1 7.25% $15,953
    First Federal Bank 1 6.25% $3,476
    First Horizon Bank 1 5.88% $7,066
    First Western Trust Bank 1 5.25% $13,765
    GUARANTY HOME MORTGAGE CORPORATION 1 6.25% $3,850
    GUILD MORTGAGE COMPANY 1 6.25% $18,624
    HOMESTAR FINANCIAL CORPORATION 1 6.25% $5,726
    INTERCOASTAL MORTGAGE COMPANY 1 5.50% $8,158
    LADERA LENDING, INC. 1 6.50% $56,203
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $4,421
    LAND HOME FINANCIAL SERVICES, INC. 1 5.63% $10,157
    MILEND, INC. 1 7.13% $32,353
    MORTGAGEONE, INC. 1 6.75% $8,788
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $16,872
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $9,562
    NBKC BANK 1 5.63% $0
    NFM, INC. 1 7.38% $7,171
    Northpointe Bank 1 6.25% $21,736
    OCMBC, INC. 1 6.75% $5,209
    Old National Bank 1 5.50% $11,140
    Paramount Bank 1 7.50% $5,762
    Pinnacle Bank 1 7.13% $5,145
    PLAZA HOME MORTGAGE, INC. 1 6.00% $18,407
    POLARIS HOME FUNDING CORP. 1 6.50% $8,874
    Residential Mortgage Solutions, Inc. 1 5.25% $11,781
    Shamrock Home Loans, Inc. 1 6.63% $3,953
    1ST SIGNATURE LENDING, LLC 1 7.00% $8,074
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.38% $0

    The top Asheville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 71 VA loans originated. Their average total fees are $8,949, which is $3,906 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Asheville VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($3,885), DHI MORTGAGE COMPANY, LTD. ($4,492), NAVY FEDERAL CREDIT UNION ($6,613), HOWARD HANNA FINANCIAL SERVICES, INC. ($7,288) and Mortgage Research Center, LLC ($8,949).

    The lowest rate Asheville VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.55%), NAVY FEDERAL CREDIT UNION (5.90%), USAA Federal Savings Bank (6.09%), UNITED WHOLESALE MORTGAGE, LLC (6.09%) and QUICKEN LOANS, LLC (6.12%).

    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 $349,998 (0.2%) $496,161 (-3.6%) 1.30 2,448
    2018-02-01 $349,975 (-2.8%) $492,639 (-6.2%) 1.27 2,391
    2018-03-01 $354,900 (-2.5%) $498,344 (-5.2%) 1.25 2,443
    2018-04-01 $358,900 (-3.0%) $495,611 (-5.8%) 1.22 2,575
    2018-05-01 $363,950 (-3.2%) $494,599 (-7.2%) 1.22 2,671
    2018-06-01 $385,000 (1.3%) $530,612 (0.4%) 1.28 2,595
    2018-07-01 $387,000 (2.9%) $524,412 (-0.4%) 1.29 2,679
    2018-08-01 $385,000 (0.7%) $519,359 (-3.1%) 1.29 2,776
    2018-09-01 $380,000 (0.3%) $518,962 (-3.3%) 1.28 2,886
    2018-10-01 $377,200 (0.4%) $514,577 (-3.8%) 1.28 2,982
    2018-11-01 $375,000 (-1.1%) $511,281 (-4.0%) 1.27 2,872
    2018-12-01 $375,000 (-1.1%) $512,127 (-4.1%) 1.29 2,654
    2019-01-01 $379,000 (8.3%) $519,692 (4.7%) 1.31 2,358
    2019-02-01 $375,000 (7.2%) $522,430 (6.1%) 1.27 2,259
    2019-03-01 $383,357 (8.0%) $533,796 (7.1%) 1.25 2,341
    2019-04-01 $396,500 (10.5%) $549,239 (10.8%) 1.26 2,462
    2019-05-01 $399,945 (9.9%) $559,405 (13.1%) 1.25 2,595
    2019-06-01 $399,500 (3.8%) $559,590 (5.5%) 1.25 2,771
    2019-07-01 $399,000 (3.1%) $552,197 (5.3%) 1.25 2,767
    2019-08-01 $399,364 (3.7%) $551,906 (6.3%) 1.26 2,795
    2019-09-01 $399,159 (5.0%) $548,221 (5.6%) 1.28 2,812
    2019-10-01 $399,000 (5.8%) $546,946 (6.3%) 1.29 2,825
    2019-11-01 $399,000 (6.4%) $549,424 (7.5%) 1.31 2,640
    2019-12-01 $398,975 (6.4%) $548,608 (7.1%) 1.33 2,317
    2020-01-01 $399,450 (5.4%) $560,369 (7.8%) 1.33 2,017
    2020-02-01 $400,000 (6.7%) $562,546 (7.7%) 1.31 1,844
    2020-03-01 $404,500 (5.5%) $567,078 (6.2%) 1.27 1,871
    2020-04-01 $399,450 (0.7%) $555,148 (1.1%) 1.25 2,023
    2020-05-01 $419,950 (5.0%) $578,249 (3.4%) 1.28 2,016
    2020-06-01 $427,000 (6.9%) $596,762 (6.6%) 1.26 1,959
    2020-07-01 $428,000 (7.3%) $606,190 (9.8%) 1.24 1,859
    2020-08-01 $429,000 (7.4%) $614,941 (11.4%) 1.23 1,687
    2020-09-01 $442,500 (10.9%) $649,081 (18.4%) 1.27 1,588
    2020-10-01 $449,500 (12.7%) $658,258 (20.4%) 1.29 1,558
    2020-11-01 $454,345 (13.9%) $670,608 (22.1%) 1.33 1,427
    2020-12-01 $469,000 (17.6%) $689,163 (25.6%) 1.39 1,280
    2021-01-01 $464,000 (16.2%) $694,304 (23.9%) 1.39 1,064
    2021-02-01 $449,725 (12.4%) $690,087 (22.7%) 1.31 914
    2021-03-01 $457,500 (13.1%) $698,079 (23.1%) 1.30 821
    2021-04-01 $465,000 (16.4%) $718,303 (29.4%) 1.26 847
    2021-05-01 $479,000 (14.1%) $736,951 (27.5%) 1.27 867
    2021-06-01 $472,475 (10.7%) $713,142 (19.5%) 1.24 1,098
    2021-07-01 $454,880 (6.3%) $689,306 (13.7%) 1.20 1,210
    2021-08-01 $449,500 (4.8%) $690,396 (12.3%) 1.20 1,232
    2021-09-01 $457,105 (3.3%) $715,568 (10.2%) 1.22 1,207
    2021-10-01 $471,320 (4.9%) $728,622 (10.7%) 1.26 1,163
    2021-11-01 $472,475 (4.0%) $743,295 (10.8%) 1.26 1,014
    2021-12-01 $479,950 (2.3%) $770,423 (11.8%) 1.30 870
    2022-01-01 $499,900 (7.7%) $828,819 (19.4%) 1.35 678
    2022-02-01 $537,933 (19.6%) $910,511 (31.9%) 1.40 540
    2022-03-01 $555,925 (21.5%) $919,082 (31.7%) 1.39 520
    2022-04-01 $550,000 (18.3%) $884,179 (23.1%) 1.31 604
    2022-05-01 $567,450 (18.5%) $862,792 (17.1%) 1.30 821
    2022-06-01 $562,233 (19.0%) $826,393 (15.9%) 1.25 965
    2022-07-01 $530,000 (16.5%) $789,064 (14.5%) 1.19 1,139
    2022-08-01 $521,000 (15.9%) $760,825 (10.2%) 1.20 1,154
    2022-09-01 $523,725 (14.6%) $773,395 (8.1%) 1.22 1,188
    2022-10-01 $529,000 (12.2%) $792,464 (8.8%) 1.24 1,292
    2022-11-01 $534,500 (13.1%) $797,589 (7.3%) 1.28 1,231
    2022-12-01 $539,450 (12.4%) $797,555 (3.5%) 1.33 1,098
    2023-01-01 $531,200 (6.3%) $798,957 (-3.6%) 1.32 959
    2023-02-01 $575,000 (6.9%) $832,146 (-8.6%) 1.39 820
    2023-03-01 $575,000 (3.4%) $840,919 (-8.5%) 1.36 837
    2023-04-01 $589,500 (7.2%) $854,280 (-3.4%) 1.37 924
    2023-05-01 $599,000 (5.6%) $875,566 (1.5%) 1.36 1,055
    2023-06-01 $607,185 (8.0%) $887,871 (7.4%) 1.36 1,106
    2023-07-01 $599,000 (13.0%) $880,743 (11.6%) 1.36 1,144
    2023-08-01 $600,000 (15.2%) $874,653 (15.0%) 1.38 1,172
    2023-09-01 $600,000 (14.6%) $857,769 (10.9%) 1.40 1,245
    2023-10-01 $592,225 (12.0%) $853,475 (7.7%) 1.39 1,375
    2023-11-01 $575,000 (7.6%) $840,927 (5.4%) 1.37 1,389
    2023-12-01 $549,900 (1.9%) $823,351 (3.2%) 1.34 1,271
    2024-01-01 $552,475 (4.0%) $851,280 (6.6%) 1.35 1,087
    2024-02-01 $547,000 (-4.9%) $846,333 (1.7%) 1.32 1,022
    2024-03-01 $550,000 (-4.4%) $849,221 (1.0%) 1.29 1,138
    2024-04-01 $570,125 (-3.3%) $837,425 (-2.0%) 1.33 1,249
    2024-05-01 $627,000 (4.7%) $913,529 (4.3%) 1.42 1,319
    2024-06-01 $610,000 (0.5%) $885,502 (-0.3%) 1.37 1,443
    2024-07-01 $575,000 (-4.0%) $852,373 (-3.2%) 1.31 1,592
    2024-08-01 $569,950 (-5.0%) $843,265 (-3.6%) 1.33 1,747
    2024-09-01 $575,000 (-4.2%) $841,121 (-1.9%) 1.35 1,873
    2024-10-01 $573,450 (-3.2%) $821,782 (-3.7%) 1.35 1,751
    Asheville's median listing price for 2024-10-01 was $573,450, a difference of $-18,775 (-3.2%) versus the prior year and $-1,550 versus the prior month.

    Asheville's median listing price comes in at 135% of the national average.

    Asheville's average listing price for 2024-10-01 was $821,782, a difference of $-31,693 (-3.7%) versus the prior year and $-19,339 versus the prior month.

    For the 2024-10-01 period, Asheville had 1,751 MLS listings, a difference of -122 listings (-7%) versus the prior month and 376 listings (27%) 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
    2018-01-01 106 days 2,214 sqft
    2018-02-01 46 days 2,193 sqft
    2018-03-01 68 days 2,153 sqft
    2018-04-01 80 days 2,156 sqft
    2018-05-01 73 days 2,163 sqft
    2018-06-01 72 days 2,160 sqft
    2018-07-01 72 days 2,187 sqft
    2018-08-01 79 days 2,185 sqft
    2018-09-01 81 days 2,172 sqft
    2018-10-01 85 days 2,130 sqft
    2018-11-01 86 days 2,114 sqft
    2018-12-01 99 days 2,089 sqft
    2019-01-01 111 days 2,080 sqft
    2019-02-01 114 days 2,063 sqft
    2019-03-01 93 days 2,113 sqft
    2019-04-01 63 days 2,166 sqft
    2019-05-01 60 days 2,214 sqft
    2019-06-01 60 days 2,216 sqft
    2019-07-01 66 days 2,211 sqft
    2019-08-01 70 days 2,185 sqft
    2019-09-01 75 days 2,163 sqft
    2019-10-01 78 days 2,153 sqft
    2019-11-01 81 days 2,144 sqft
    2019-12-01 92 days 2,130 sqft
    2020-01-01 107 days 2,128 sqft
    2020-02-01 109 days 2,110 sqft
    2020-03-01 91 days 2,112 sqft
    2020-04-01 75 days 2,079 sqft
    2020-05-01 75 days 2,149 sqft
    2020-06-01 72 days 2,172 sqft
    2020-07-01 62 days 2,204 sqft
    2020-08-01 62 days 2,181 sqft
    2020-09-01 59 days 2,211 sqft
    2020-10-01 57 days 2,176 sqft
    2020-11-01 60 days 2,141 sqft
    2020-12-01 68 days 2,110 sqft
    2021-01-01 79 days 2,055 sqft
    2021-02-01 82 days 1,990 sqft
    2021-03-01 57 days 1,941 sqft
    2021-04-01 45 days 1,930 sqft
    2021-05-01 38 days 1,992 sqft
    2021-06-01 35 days 1,941 sqft
    2021-07-01 41 days 1,906 sqft
    2021-08-01 48 days 1,870 sqft
    2021-09-01 52 days 1,898 sqft
    2021-10-01 53 days 1,938 sqft
    2021-11-01 57 days 1,917 sqft
    2021-12-01 67 days 1,930 sqft
    2022-01-01 79 days 1,939 sqft
    2022-02-01 74 days 1,936 sqft
    2022-03-01 48 days 2,023 sqft
    2022-04-01 30 days 2,005 sqft
    2022-05-01 30 days 2,074 sqft
    2022-06-01 33 days 2,054 sqft
    2022-07-01 36 days 2,026 sqft
    2022-08-01 45 days 2,025 sqft
    2022-09-01 49 days 1,988 sqft
    2022-10-01 50 days 2,040 sqft
    2022-11-01 56 days 2,062 sqft
    2022-12-01 71 days 2,046 sqft
    2023-01-01 83 days 1,971 sqft
    2023-02-01 85 days 2,017 sqft
    2023-03-01 61 days 2,030 sqft
    2023-04-01 46 days 2,051 sqft
    2023-05-01 43 days 2,056 sqft
    2023-06-01 46 days 2,102 sqft
    2023-07-01 52 days 2,089 sqft
    2023-08-01 54 days 2,110 sqft
    2023-09-01 50 days 2,105 sqft
    2023-10-01 51 days 2,080 sqft
    2023-11-01 57 days 2,008 sqft
    2023-12-01 69 days 1,987 sqft
    2024-01-01 82 days 1,930 sqft
    2024-02-01 84 days 1,888 sqft
    2024-03-01 57 days 1,902 sqft
    2024-04-01 43 days 1,943 sqft
    2024-05-01 40 days 2,041 sqft
    2024-06-01 45 days 2,015 sqft
    2024-07-01 50 days 1,964 sqft
    2024-08-01 52 days 1,960 sqft
    2024-09-01 57 days 1,944 sqft
    2024-10-01 71 days 1,947 sqft
    Asheville's median listing age (time on market) for 2024-10-01 was 71 days. This is 39% longer than the same period one year ago.

    Asheville's median square footage for active listings during the 2024-10-01 period was 1,947 sqft. One year prior, the average listing was 2,080 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.