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 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 6.4% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

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

The average rate for the prior week (2024-05-31) was 6.91% and one month ago for the week of 2024-05-03, the average rate was 6.84%.

The average rate one year ago was 6.34%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.33%.

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
Asheville's median listing price for 2024-05-01 was $627,000, a difference of $28,000 (4.7%) versus the prior year and $56,875 versus the prior month.

Asheville's median listing price comes in at 142% of the national average.

Asheville's average listing price for 2024-05-01 was $913,529, a difference of $37,963 (4.3%) versus the prior year and $76,104 versus the prior month.

For the 2024-05-01 period, Asheville had 1,319 MLS listings, a difference of 70 listings (6%) versus the prior month and 264 listings (25%) 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 1,931 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
Asheville's median listing age (time on market) for 2024-05-01 was 40 days. This is -8% shorter than the same period one year ago.

Asheville's median square footage for active listings during the 2024-05-01 period was 2,041 sqft. One year prior, the average listing was 2,056 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.