Asheville VA Loans

ASHEVILLE, NC

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    • 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.