Beckley VA Loan Rates, Closing Costs & Stats

BECKLEY, WV

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.

Beckley's 22 lenders originated 99 VA loans during 2023. The total origination value was $20,925,000, with an average VA loan value of $211,364.

Beckley VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Beckley averaged 6.64% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Beckley's average VA mortgage closing costs are $4,090.

The average rate for the prior week (2024-03-15) was 6.56% and one month ago for the week of 2024-02-16, the average rate was 6.78%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-03-22, the average rate was 7%.

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

Beckley 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 Beckley level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 35 6.88% $4,751
MOVEMENT MORTGAGE, LLC 11 7.01% $4,664
The Huntington National Bank 7 6.64% $8,364
QUICKEN LOANS, LLC 7 5.80% $5,161
U.S. Bank 4 6.59% $5,909
NAVY FEDERAL CREDIT UNION 4 5.97% $5,679
Truist 4 6.21% $3,011
Alcova Mortgage LLC 3 7.13% $3,771
USAA Federal Savings Bank 3 6.33% $11,756
LOANDEPOT.COM, LLC 2 6.19% $7,820
PENNYMAC LOAN SERVICES, LLC 2 5.25% $4,941
Community First National Bank 2 7.50% $5,540
UNITED WHOLESALE MORTGAGE, LLC 2 5.87% $11,315
AMERISAVE MORTGAGE CORPORATION 2 6.38% $20,116
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $6,952
ZILLOW HOME LOANS, LLC 1 7.13% $5,777
Blue Ridge Bank 1 6.63% $4,113
Barrington Bank & Trust Company, N.A. 1 6.75% $2,551
FREEDOM MORTGAGE CORPORATION 1 7.25% $13,526
FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $6,623
JPMorgan Chase Bank 1 5.99% $524
PENTAGON FEDERAL CREDIT UNION 1 5.00% $2,657

The top Beckley VA lender as defined by loan originations is Mortgage Research Center, LLC, with 35 VA loans originated. Their average total fees are $4,751, which is $87 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Beckley VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($4,664), Mortgage Research Center, LLC ($4,751), .

The lowest rate Beckley VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.88%), MOVEMENT MORTGAGE, LLC (7.01%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Beckley (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 $120,000 (-7.7%) $166,254 (-5.4%) 0.00 547
2018-02-01 $119,950 (-10.0%) $163,997 (-7.0%) 0.00 536
2018-03-01 $120,000 (-13.7%) $168,113 (-5.0%) 0.00 520
2018-04-01 $128,000 (-8.1%) $177,733 (-0.6%) 0.00 498
2018-05-01 $131,800 (-5.5%) $181,630 (1.7%) 0.00 512
2018-06-01 $130,000 (-7.1%) $183,593 (-0.1%) 0.00 568
2018-07-01 $129,900 (-6.6%) $179,015 (-0.1%) 0.00 595
2018-08-01 $129,800 (-5.5%) $178,108 (-0.3%) 0.00 613
2018-09-01 $129,000 (-4.4%) $177,210 (-0.2%) 0.00 618
2018-10-01 $125,498 (-6.2%) $180,225 (1.3%) 0.00 582
2018-11-01 $120,625 (-6.5%) $178,998 (3.9%) 0.00 530
2018-12-01 $125,000 (0.1%) $175,752 (4.4%) 0.00 487
2019-01-01 $122,500 (2.1%) $175,039 (5.3%) 0.00 442
2019-02-01 $129,450 (7.9%) $182,029 (11.0%) 0.00 427
2019-03-01 $134,100 (11.8%) $187,454 (11.5%) 0.00 426
2019-04-01 $138,650 (8.3%) $192,610 (8.4%) 0.00 428
2019-05-01 $139,700 (6.0%) $200,167 (10.2%) 0.00 458
2019-06-01 $139,900 (7.6%) $202,298 (10.2%) 0.00 494
2019-07-01 $139,900 (7.7%) $205,281 (14.7%) 0.00 488
2019-08-01 $135,327 (4.3%) $197,329 (10.8%) 0.00 502
2019-09-01 $128,393 (-0.5%) $185,961 (4.9%) 0.00 525
2019-10-01 $123,125 (-1.9%) $179,706 (-0.3%) 0.00 535
2019-11-01 $119,900 (-0.6%) $179,814 (0.5%) 0.00 516
2019-12-01 $119,000 (-4.8%) $172,758 (-1.7%) 0.00 499
2020-01-01 $115,000 (-6.1%) $166,445 (-4.9%) 0.00 454
2020-02-01 $125,000 (-3.4%) $179,822 (-1.2%) 0.00 395
2020-03-01 $124,925 (-6.8%) $180,299 (-3.8%) 0.00 369
2020-04-01 $122,475 (-11.7%) $183,304 (-4.8%) 0.00 333
2020-05-01 $119,900 (-14.2%) $178,431 (-10.9%) 0.00 318
2020-06-01 $115,750 (-17.3%) $180,007 (-11.0%) 0.00 312
2020-07-01 $119,975 (-14.2%) $192,664 (-6.2%) 0.00 316
2020-08-01 $122,670 (-9.4%) $206,352 (4.6%) 0.00 303
2020-09-01 $115,875 (-9.8%) $211,287 (13.6%) 0.00 289
2020-10-01 $114,900 (-6.7%) $199,100 (10.8%) 0.00 322
2020-11-01 $115,500 (-3.7%) $197,091 (9.6%) 0.00 320
2020-12-01 $119,950 (0.8%) $199,437 (15.4%) 0.00 288
2021-01-01 $122,950 (6.9%) $209,064 (25.6%) 0.00 254
2021-02-01 $135,000 (8.0%) $220,628 (22.7%) 0.00 219
2021-03-01 $132,750 (6.3%) $226,874 (25.8%) 0.00 200
2021-04-01 $135,000 (10.2%) $238,834 (30.3%) 0.00 170
2021-05-01 $155,000 (29.3%) $257,019 (44.0%) 0.00 164
2021-06-01 $157,000 (35.6%) $249,436 (38.6%) 0.00 178
2021-07-01 $141,000 (17.5%) $221,657 (15.1%) 0.00 190
2021-08-01 $131,000 (6.8%) $214,411 (3.9%) 0.00 191
2021-09-01 $139,125 (20.1%) $228,585 (8.2%) 0.00 184
2021-10-01 $145,000 (26.2%) $223,286 (12.2%) 0.00 172
2021-11-01 $133,700 (15.8%) $217,195 (10.2%) 0.00 158
2021-12-01 $125,975 (5.0%) $228,541 (14.6%) 0.00 145
2022-01-01 $127,000 (3.3%) $236,744 (13.2%) 0.00 125
2022-02-01 $124,974 (-7.4%) $222,785 (1.0%) 0.00 119
2022-03-01 $139,975 (5.4%) $250,526 (10.4%) 0.00 110
2022-04-01 $132,200 (-2.1%) $243,146 (1.8%) 0.00 123
2022-05-01 $142,450 (-8.1%) $238,575 (-7.2%) 0.00 120
2022-06-01 $143,225 (-8.8%) $243,038 (-2.6%) 0.00 136
2022-07-01 $139,000 (-1.4%) $228,418 (3.1%) 0.00 156
2022-08-01 $154,450 (17.9%) $239,934 (11.9%) 0.00 180
2022-09-01 $160,000 (15.0%) $255,647 (11.8%) 0.00 174
2022-10-01 $150,000 (3.5%) $261,607 (17.2%) 0.00 190
2022-11-01 $163,750 (22.5%) $268,312 (23.5%) 0.00 179
2022-12-01 $153,000 (21.5%) $248,385 (8.7%) 0.00 181
2023-01-01 $153,500 (20.9%) $255,458 (7.9%) 0.00 168
2023-02-01 $153,500 (22.8%) $285,056 (28.0%) 0.00 153
2023-03-01 $155,000 (10.7%) $290,084 (15.8%) 0.00 148
2023-04-01 $184,950 (39.9%) $308,870 (27.0%) 0.00 138
2023-05-01 $205,000 (43.9%) $314,705 (31.9%) 0.00 145
2023-06-01 $217,500 (51.9%) $299,213 (23.1%) 0.00 167
2023-07-01 $219,950 (58.2%) $293,275 (28.4%) 0.00 181
2023-08-01 $212,425 (37.5%) $289,826 (20.8%) 0.00 181
2023-09-01 $199,900 (24.9%) $281,431 (10.1%) 0.00 181
2023-10-01 $194,750 (29.8%) $277,050 (5.9%) 0.00 199
2023-11-01 $189,725 (15.9%) $268,074 (-0.1%) 0.00 186
2023-12-01 $190,450 (24.5%) $249,620 (0.5%) 0.00 188
2024-01-01 $188,425 (22.8%) $237,913 (-6.9%) 0.00 180
2024-02-01 $160,975 (4.9%) $224,642 (-21.2%) 0.00 171
Beckley's median listing price for 2024-02-01 was $160,975, a difference of $7,475 (4.9%) versus the prior year and $-27,450 versus the prior month.

Beckley's median listing price comes in at 0% of the national average.

Beckley's average listing price for 2024-02-01 was $224,642, a difference of $-60,414 (-21.2%) versus the prior year and $-13,271 versus the prior month.

For the 2024-02-01 period, Beckley had 171 MLS listings, a difference of -9 listings (-5%) versus the prior month and 18 listings (12%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Beckley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,773 sqft
2018-02-01 0 days 1,755 sqft
2018-03-01 0 days 1,750 sqft
2018-04-01 0 days 1,750 sqft
2018-05-01 0 days 1,764 sqft
2018-06-01 0 days 1,764 sqft
2018-07-01 0 days 1,760 sqft
2018-08-01 0 days 1,740 sqft
2018-09-01 0 days 1,754 sqft
2018-10-01 0 days 1,742 sqft
2018-11-01 0 days 1,716 sqft
2018-12-01 0 days 1,686 sqft
2019-01-01 0 days 1,668 sqft
2019-02-01 0 days 1,737 sqft
2019-03-01 0 days 1,769 sqft
2019-04-01 0 days 1,798 sqft
2019-05-01 0 days 1,844 sqft
2019-06-01 0 days 1,861 sqft
2019-07-01 0 days 1,881 sqft
2019-08-01 0 days 1,885 sqft
2019-09-01 0 days 1,881 sqft
2019-10-01 0 days 1,878 sqft
2019-11-01 0 days 1,891 sqft
2019-12-01 0 days 1,845 sqft
2020-01-01 0 days 1,799 sqft
2020-02-01 0 days 1,738 sqft
2020-03-01 0 days 1,673 sqft
2020-04-01 0 days 1,618 sqft
2020-05-01 0 days 1,657 sqft
2020-06-01 0 days 1,651 sqft
2020-07-01 0 days 1,741 sqft
2020-08-01 0 days 1,824 sqft
2020-09-01 0 days 1,748 sqft
2020-10-01 0 days 1,591 sqft
2020-11-01 0 days 1,590 sqft
2020-12-01 0 days 1,580 sqft
2021-01-01 0 days 1,584 sqft
2021-02-01 0 days 1,617 sqft
2021-03-01 0 days 1,672 sqft
2021-04-01 0 days 1,675 sqft
2021-05-01 0 days 1,812 sqft
2021-06-01 0 days 1,800 sqft
2021-07-01 0 days 1,755 sqft
2021-08-01 0 days 1,732 sqft
2021-09-01 0 days 1,702 sqft
2021-10-01 0 days 1,702 sqft
2021-11-01 0 days 1,695 sqft
2021-12-01 0 days 1,663 sqft
2022-01-01 0 days 1,575 sqft
2022-02-01 0 days 1,584 sqft
2022-03-01 0 days 1,688 sqft
2022-04-01 0 days 1,594 sqft
2022-05-01 0 days 1,578 sqft
2022-06-01 0 days 1,604 sqft
2022-07-01 0 days 1,584 sqft
2022-08-01 0 days 1,636 sqft
2022-09-01 0 days 1,649 sqft
2022-10-01 0 days 1,530 sqft
2022-11-01 0 days 1,587 sqft
2022-12-01 0 days 1,527 sqft
2023-01-01 0 days 1,520 sqft
2023-02-01 0 days 1,533 sqft
2023-03-01 0 days 1,583 sqft
2023-04-01 0 days 1,674 sqft
2023-05-01 0 days 1,755 sqft
2023-06-01 0 days 1,794 sqft
2023-07-01 0 days 1,819 sqft
2023-08-01 0 days 1,808 sqft
2023-09-01 0 days 1,823 sqft
2023-10-01 0 days 1,862 sqft
2023-11-01 0 days 1,877 sqft
2023-12-01 0 days 1,894 sqft
2024-01-01 0 days 1,705 sqft
2024-02-01 0 days 1,678 sqft
Beckley's median listing age (time on market) for 2024-02-01 was 0 days.

Beckley's median square footage for active listings during the 2024-02-01 period was 1,678 sqft. One year prior, the average listing was 1,533 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.