Asheville VA Loan Rates, Closing Costs & Stats

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 105 lenders originated 576 VA loans during 2022. The total origination value was $202,040,000, with an average VA loan value of $350,764.

Asheville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Asheville averaged 6.33% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

Asheville's average VA mortgage closing costs are $6,042.

The average rate for the prior week (2024-02-09) was 5.79% and one month ago for the week of 2024-01-12, the average rate was 6.04%.

The average rate one year ago was 5.61%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.23%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 68 4.94% $8,301
QUICKEN LOANS, LLC 52 3.82% $14,691
NAVY FEDERAL CREDIT UNION 33 4.12% $4,462
UNITED WHOLESALE MORTGAGE, LLC 32 4.17% $10,252
MOVEMENT MORTGAGE, LLC 30 4.40% $7,687
USAA Federal Savings Bank 26 4.75% $8,878
FREEDOM MORTGAGE CORPORATION 24 4.34% $10,282
PENNYMAC LOAN SERVICES, LLC 19 3.48% $10,130
NEW DAY FINANCIAL, LLC 15 4.54% $11,713
DHI MORTGAGE COMPANY, LTD. 14 4.08% $3,321
LOANDEPOT.COM, LLC 12 3.06% $9,802
GoPrime Mortgage, Inc. 10 4.35% $9,723
Flagstar Bank, FSB 7 4.05% $6,027
Mr. Cooper ( Nationstar Mortgage ) 7 4.07% $6,900
CARDINAL FINANCIAL 7 5.39% $17,011
CROSSCOUNTRY MORTGAGE, LLC 6 5.25% $17,186
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 4.88% $16,000
GUARANTEED RATE, INC. 6 3.63% $6,458
RADIUS FINANCIAL GROUP INC. 6 4.56% $5,426
The Federal Savings Bank 5 5.10% $23,586
Wells Fargo Bank 5 5.00% $6,346
NEWREZ LLC 5 3.90% $14,204
CALIBER HOME LOANS, INC. 5 5.38% $18,597
PENTAGON FEDERAL CREDIT UNION 5 3.68% $9,683
BROKER SOLUTIONS, INC. 4 4.38% $6,997
VERITAS FUNDING, LLC 4 4.75% $35,127
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 4.31% $16,262
ACOPIA, LLC 4 4.31% $10,405
CLEARPATH LENDING 4 3.34% $6,625
HOME POINT FINANCIAL CORPORATION 4 2.63% $9,242
BAY EQUITY LLC 3 5.00% $8,514
AMERICAN FINANCING CORPORATION 3 4.13% $6,260
Barrington Bank & Trust Company, N.A. 3 4.08% $6,573
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.25% $9,435
First Bank 3 3.50% $8,041
LAKEVIEW LOAN SERVICING, LLC 3 3.58% $3,700
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 5.33% $3,953
PNC Bank 3 3.79% $4,472
RELIANCE FIRST CAPITAL, LLC 3 4.25% $7,326
Truist 3 3.80% $5,081
UNION HOME MORTGAGE CORP. 3 4.04% $6,968
Low VA Rates, LLC 2 4.75% $13,801
Citizens Bank 2 3.81% $1,570
Magnolia Bank 2 5.12% $12,318
Paramount Bank 2 3.25% $12,792
Strong Home Mortgage, LLC 2 3.75% $7,813
SUCCESS MORTGAGE PARTNERS, INC. 2 5.25% $12,228
Nations Lending Corporation 2 4.81% $16,045
Mid-Continent Funding, Inc. 2 5.00% $9,697
Equity Prime Mortgage LLC 2 4.00% $13,197
AMERISAVE MORTGAGE CORPORATION 2 5.00% $17,534
TOWNE MORTGAGE COMPANY 2 4.19% $9,873
Wolfe Financial, Inc 2 4.63% $12,701
VILLAGE CAPITAL MORTGAGE 2 2.38% $5,955
NBKC BANK 2 4.31% $6,799
AMERIFIRST FINANCIAL CORPORATION 2 5.50% $7,564
First-Citizens Bank & Trust Company 2 6.19% $4,936
Mortgage Lenders Investment Trading Corporation 2 4.31% $10,196
INTERCOASTAL MORTGAGE COMPANY 2 6.94% $12,105
Alcova Mortgage LLC 2 5.06% $5,364
RESIDENTIAL BANCORP 2 5.00% $10,132
GUARANTY HOME MORTGAGE CORPORATION 2 5.00% $5,813
OVM FINANCIAL, INC. 1 4.88% $8,469
1ST SIGNATURE LENDING, LLC 1 3.63% $9,561
Armed Forces Bank 1 4.25% $2,772
PLANET HOME LENDING, LLC 1 3.75% $15,004
Prosperity Home Mortgage, LLC 1 3.63% $6,311
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $8,645
APEX HOME LOANS, INC. 1 3.50% $9,753
SIRVA MORTGAGE, INC. 1 4.63% $15,576
SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $7,108
South State Bank 1 3.13% $8,371
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $0
Stride Bank 1 5.13% $4,023
T2 FINANCIAL LLC 1 4.50% $15,821
TD Bank 1 2.88% $2,336
Texana Bank 1 3.63% $10,690
Wyndham Capital Mortgage, Inc. 1 3.25% $1,870
United Community Bank 1 4.38% $21,471
FIRST COMMUNITY MORTGAGE, INC. 1 4.75% $12,679
First Federal Bank 1 4.13% $11,465
FirstBank 1 6.75% $5,939
FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $1,939
EVERETT FINANCIAL, INC. 1 6.25% $12,323
FBC MORTGAGE, LLC 1 5.75% $3,859
HANCOCK MORTGAGE PARTNERS, LLC 1 5.63% $3,349
EQUITY RESOURCES, INC. 1 3.50% $3,041
HOMESIDE FINANCIAL, LLC 1 5.63% $8,491
Independent Bank 1 4.75% $20,111
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $4,226
LAND HOME FINANCIAL SERVICES, INC. 1 4.75% $16,918
LIBERTY HOME MORTGAGE CORPORATION 1 5.63% $19,303
Countybank 1 5.13% $4,496
MORIA DEVELOPMENT, INC. 1 5.13% $11,821
CORNERSTONE HOME LENDING, INC. 1 5.25% $16,350
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.75% $4,726
CONTOUR MORTGAGE CORPORATION 1 5.25% $10,542
Mutual Federal Bank 1 4.50% $13,867
NATIONS RELIABLE LENDING, LLC 1 6.75% $7,278
Carrington Mortgage Services, LLC 1 2.75% $4,023
NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $16,155
CAPITAL CENTER, L.L.C. 1 4.63% $100
Beverly - Hanks Mortgage Services, Inc. 1 3.75% $1,325
NFM, INC. 1 6.13% $7,865
North American Savings Bank, F.S.B. 1 2.88% $3,020

The top Asheville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 68 VA loans originated. Their average total fees are $8,301, which is $6,390 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Asheville VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($3,321), NAVY FEDERAL CREDIT UNION ($4,462), MOVEMENT MORTGAGE, LLC ($7,687), Mortgage Research Center, LLC ($8,301) and USAA Federal Savings Bank ($8,878).

The lowest rate Asheville VA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (3.06%), PENNYMAC LOAN SERVICES, LLC (3.48%), QUICKEN LOANS, LLC (3.82%), DHI MORTGAGE COMPANY, LTD. (4.08%) and NAVY FEDERAL CREDIT UNION (4.12%).


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 $381,600 (1.2%) $538,570 (-4.7%) 1.41 1,917
2018-02-01 $379,000 (-3.3%) $532,851 (-7.5%) 1.38 1,880
2018-03-01 $379,000 (-2.7%) $538,478 (-6.1%) 1.33 1,930
2018-04-01 $387,450 (-1.1%) $536,804 (-5.7%) 1.31 2,018
2018-05-01 $394,875 (-1.0%) $533,969 (-7.6%) 1.32 2,099
2018-06-01 $399,900 (0.1%) $563,261 (-0.8%) 1.33 2,113
2018-07-01 $399,450 (0.1%) $552,165 (-2.0%) 1.33 2,171
2018-08-01 $399,000 (0.0%) $541,769 (-5.0%) 1.34 2,269
2018-09-01 $399,000 (0.0%) $543,053 (-4.9%) 1.34 2,362
2018-10-01 $392,500 (-1.4%) $536,655 (-5.2%) 1.33 2,452
2018-11-01 $389,000 (-2.5%) $527,840 (-6.8%) 1.32 2,382
2018-12-01 $386,000 (-3.3%) $530,241 (-6.6%) 1.33 2,187
2019-01-01 $389,900 (2.2%) $537,723 (-0.2%) 1.35 1,946
2019-02-01 $389,750 (2.8%) $541,289 (1.6%) 1.32 1,872
2019-03-01 $397,143 (4.8%) $550,958 (2.3%) 1.30 1,952
2019-04-01 $406,450 (4.9%) $565,975 (5.4%) 1.29 2,060
2019-05-01 $425,000 (7.6%) $577,886 (8.2%) 1.33 2,184
2019-06-01 $424,000 (6.0%) $578,956 (2.8%) 1.33 2,310
2019-07-01 $419,950 (5.1%) $571,725 (3.5%) 1.31 2,303
2019-08-01 $420,153 (5.3%) $571,565 (5.5%) 1.33 2,321
2019-09-01 $417,254 (4.6%) $567,854 (4.6%) 1.34 2,325
2019-10-01 $417,560 (6.4%) $566,938 (5.6%) 1.35 2,328
2019-11-01 $419,000 (7.7%) $571,317 (8.2%) 1.37 2,175
2019-12-01 $417,238 (8.1%) $572,132 (7.9%) 1.39 1,890
2020-01-01 $419,475 (7.6%) $586,592 (9.1%) 1.40 1,643
2020-02-01 $425,000 (9.0%) $591,326 (9.2%) 1.39 1,502
2020-03-01 $429,500 (8.2%) $598,204 (8.6%) 1.35 1,551
2020-04-01 $418,948 (3.1%) $580,499 (2.6%) 1.31 1,690
2020-05-01 $430,000 (1.2%) $603,876 (4.5%) 1.31 1,684
2020-06-01 $440,375 (3.9%) $617,823 (6.7%) 1.30 1,634
2020-07-01 $442,450 (5.4%) $627,989 (9.8%) 1.28 1,546
2020-08-01 $445,000 (5.9%) $637,535 (11.5%) 1.28 1,412
2020-09-01 $452,500 (8.5%) $665,197 (17.1%) 1.30 1,357
2020-10-01 $465,000 (11.4%) $676,761 (19.4%) 1.33 1,323
2020-11-01 $465,000 (11.0%) $686,866 (20.2%) 1.36 1,215
2020-12-01 $475,000 (13.8%) $712,129 (24.5%) 1.41 1,080
2021-01-01 $477,000 (13.7%) $718,749 (22.5%) 1.42 899
2021-02-01 $467,000 (9.9%) $714,880 (20.9%) 1.36 762
2021-03-01 $466,500 (8.6%) $724,511 (21.1%) 1.32 687
2021-04-01 $472,000 (12.7%) $741,808 (27.8%) 1.28 696
2021-05-01 $489,900 (13.9%) $769,982 (27.5%) 1.30 721
2021-06-01 $479,250 (8.8%) $743,721 (20.4%) 1.26 901
2021-07-01 $468,500 (5.9%) $718,865 (14.5%) 1.24 982
2021-08-01 $452,380 (1.7%) $713,277 (11.9%) 1.21 1,020
2021-09-01 $471,975 (4.3%) $742,522 (11.6%) 1.26 1,023
2021-10-01 $481,970 (3.7%) $749,374 (10.7%) 1.29 977
2021-11-01 $485,790 (4.5%) $770,627 (12.2%) 1.30 848
2021-12-01 $492,500 (3.7%) $813,092 (14.2%) 1.33 718
2022-01-01 $525,000 (10.1%) $885,202 (23.2%) 1.42 557
2022-02-01 $570,175 (22.1%) $971,920 (36.0%) 1.48 454
2022-03-01 $587,205 (25.9%) $972,728 (34.3%) 1.47 431
2022-04-01 $579,000 (22.7%) $937,993 (26.5%) 1.38 483
2022-05-01 $595,000 (21.5%) $902,865 (17.3%) 1.36 673
2022-06-01 $584,500 (22.0%) $863,864 (16.2%) 1.30 784
2022-07-01 $550,000 (17.4%) $818,499 (13.9%) 1.24 921
2022-08-01 $542,530 (19.9%) $790,653 (10.9%) 1.25 938
2022-09-01 $545,000 (15.5%) $815,114 (9.8%) 1.27 944
2022-10-01 $550,000 (14.1%) $834,256 (11.3%) 1.29 1,037
2022-11-01 $571,200 (17.6%) $840,696 (9.1%) 1.37 1,008
2022-12-01 $575,000 (16.8%) $845,914 (4.0%) 1.42 885
2023-01-01 $577,850 (10.1%) $841,107 (-5.0%) 1.43 772
2023-02-01 $599,000 (5.1%) $870,617 (-10.4%) 1.45 661
2023-03-01 $612,500 (4.3%) $891,880 (-8.3%) 1.44 679
2023-04-01 $620,000 (7.1%) $907,237 (-3.3%) 1.44 754
2023-05-01 $625,000 (5.0%) $929,794 (3.0%) 1.42 863
2023-06-01 $644,000 (10.2%) $939,322 (8.7%) 1.45 905
2023-07-01 $625,000 (13.6%) $927,648 (13.3%) 1.42 949
2023-08-01 $628,246 (15.8%) $910,912 (15.2%) 1.44 972
2023-09-01 $620,000 (13.8%) $890,091 (9.2%) 1.44 1,034
2023-10-01 $599,125 (8.9%) $883,702 (5.9%) 1.41 1,162
2023-11-01 $587,655 (2.9%) $866,971 (3.1%) 1.40 1,181
2023-12-01 $559,000 (-2.8%) $848,294 (0.3%) 1.36 1,078
Asheville's median listing price for 2023-12-01 was $559,000, a difference of $-16,000 (-2.8%) versus the prior year and $-28,655 versus the prior month.

Asheville's median listing price comes in at 136% of the national average.

Asheville's average listing price for 2023-12-01 was $848,294, a difference of $2,380 (0.3%) versus the prior year and $-18,677 versus the prior month.

For the 2023-12-01 period, Asheville had 1,078 MLS listings, a difference of -103 listings (-9%) versus the prior month and 193 listings (22%) 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
2018-01-01 102 days 2,246 sqft
2018-02-01 46 days 2,203 sqft
2018-03-01 68 days 2,168 sqft
2018-04-01 78 days 2,193 sqft
2018-05-01 71 days 2,211 sqft
2018-06-01 69 days 2,200 sqft
2018-07-01 70 days 2,221 sqft
2018-08-01 74 days 2,206 sqft
2018-09-01 78 days 2,188 sqft
2018-10-01 81 days 2,153 sqft
2018-11-01 86 days 2,128 sqft
2018-12-01 96 days 2,108 sqft
2019-01-01 109 days 2,095 sqft
2019-02-01 110 days 2,080 sqft
2019-03-01 91 days 2,138 sqft
2019-04-01 62 days 2,186 sqft
2019-05-01 59 days 2,228 sqft
2019-06-01 60 days 2,230 sqft
2019-07-01 66 days 2,224 sqft
2019-08-01 70 days 2,194 sqft
2019-09-01 75 days 2,174 sqft
2019-10-01 77 days 2,170 sqft
2019-11-01 79 days 2,177 sqft
2019-12-01 90 days 2,159 sqft
2020-01-01 106 days 2,154 sqft
2020-02-01 107 days 2,152 sqft
2020-03-01 81 days 2,141 sqft
2020-04-01 72 days 2,094 sqft
2020-05-01 72 days 2,166 sqft
2020-06-01 71 days 2,179 sqft
2020-07-01 63 days 2,197 sqft
2020-08-01 63 days 2,184 sqft
2020-09-01 58 days 2,211 sqft
2020-10-01 57 days 2,176 sqft
2020-11-01 60 days 2,127 sqft
2020-12-01 67 days 2,111 sqft
2021-01-01 78 days 2,044 sqft
2021-02-01 82 days 1,983 sqft
2021-03-01 56 days 1,941 sqft
2021-04-01 46 days 1,947 sqft
2021-05-01 37 days 2,001 sqft
2021-06-01 35 days 1,933 sqft
2021-07-01 42 days 1,894 sqft
2021-08-01 47 days 1,866 sqft
2021-09-01 51 days 1,916 sqft
2021-10-01 52 days 1,951 sqft
2021-11-01 59 days 1,937 sqft
2021-12-01 71 days 1,950 sqft
2022-01-01 79 days 1,943 sqft
2022-02-01 73 days 1,954 sqft
2022-03-01 46 days 2,039 sqft
2022-04-01 30 days 2,045 sqft
2022-05-01 30 days 2,110 sqft
2022-06-01 33 days 2,088 sqft
2022-07-01 37 days 2,047 sqft
2022-08-01 43 days 2,043 sqft
2022-09-01 48 days 2,008 sqft
2022-10-01 48 days 2,081 sqft
2022-11-01 54 days 2,103 sqft
2022-12-01 68 days 2,062 sqft
2023-01-01 82 days 1,978 sqft
2023-02-01 86 days 2,018 sqft
2023-03-01 59 days 2,058 sqft
2023-04-01 46 days 2,080 sqft
2023-05-01 43 days 2,097 sqft
2023-06-01 46 days 2,161 sqft
2023-07-01 51 days 2,125 sqft
2023-08-01 52 days 2,128 sqft
2023-09-01 50 days 2,105 sqft
2023-10-01 51 days 2,083 sqft
2023-11-01 57 days 2,005 sqft
2023-12-01 70 days 1,959 sqft
Asheville's median listing age (time on market) for 2023-12-01 was 70 days. This is 3% longer than the same period one year ago.

Asheville's median square footage for active listings during the 2023-12-01 period was 1,959 sqft. One year prior, the average listing was 2,062 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.