Beckley VA Loans

BECKLEY, WV

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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 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 30 lenders originated 262 VA loans during 2021. The total origination value was $46,170,000, with an average VA loan value of $176,221.

    Beckley VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Beckley averaged 5.37% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.7% and one month ago for the week of 2022-04-08, the average rate was 5.13%.

    The average rate one year ago was 3.04%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.64%.

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

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 48 2.99% $4,835
    QUICKEN LOANS, LLC 43 2.61% $4,357
    MOVEMENT MORTGAGE, LLC 20 3.31% $2,844
    PENNYMAC LOAN SERVICES, LLC 13 2.66% $4,118
    USAA Federal Savings Bank 11 2.90% $4,145
    FREEDOM MORTGAGE CORPORATION 10 2.68% $2,018
    Truist Bank 9 2.73% $3,280
    LOANDEPOT.COM, LLC 7 2.96% $3,123
    The Huntington National Bank 7 3.04% $4,516
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.35% $2,172
    VILLAGE CAPITAL & INVESTMENT LLC 5 2.40% $2,729
    LAKEVIEW LOAN SERVICING, LLC 5 2.43% $2,671
    NAVY FEDERAL CREDIT UNION 4 2.47% $2,140
    Community First National Bank 4 3.38% $3,489
    AMERISAVE MORTGAGE CORPORATION 3 2.67% $4,974
    Barrington Bank & Trust Company, N.A. 3 3.13% $3,313
    Alcova Mortgage LLC 2 2.88% $2,284
    HOME POINT FINANCIAL CORPORATION 2 2.69% $2,848
    Magnolia Bank 1 2.25% $4,811
    Hometown Lenders, Inc. 1 2.88% $4,506
    Flagstar Bank, FSB 1 3.12% $2,506
    Prosperity Home Mortgage, LLC 1 2.50% $2,108
    First Home Bank 1 3.13% $3,992
    The Federal Savings Bank 1 2.50% $13,630
    First Federal Bank 1 2.25% $6,216
    DIRECT MORTGAGE LOANS, LLC 1 3.25% $4,998
    United Bank 1 3.13% $3,338
    CROSSCOUNTRY MORTGAGE, LLC 1 3.25% $2,184
    Victorian Finance, LLC 1 2.38% $3,709
    CALIBER HOME LOANS, INC. 1 2.25% $1,066

    The top Beckley VA lender as defined by loan originations is Mortgage Research Center, LLC, with 48 VA loans originated. Their average total fees are $4,835, which is $479 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Beckley VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,018), MOVEMENT MORTGAGE, LLC ($2,844), PENNYMAC LOAN SERVICES, LLC ($4,118), USAA Federal Savings Bank ($4,145) and QUICKEN LOANS, LLC ($4,357).

    The lowest rate Beckley VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.61%), PENNYMAC LOAN SERVICES, LLC (2.66%), FREEDOM MORTGAGE CORPORATION (2.68%), USAA Federal Savings Bank (2.90%) and Mortgage Research Center, LLC (2.99%).

    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 $127,000 (-7.3%) $178,664 (-1.3%) 0.00 638
    2018-02-01 $127,450 (-7.6%) $177,461 (-1.6%) 0.00 635
    2018-03-01 $129,900 (-10.4%) $180,613 (-0.8%) 0.00 626
    2018-04-01 $135,400 (-7.8%) $191,361 (2.4%) 0.00 608
    2018-05-01 $144,000 (-0.7%) $195,865 (5.1%) 0.00 625
    2018-06-01 $142,000 (-4.7%) $197,610 (2.3%) 0.00 686
    2018-07-01 $139,000 (-4.1%) $191,094 (1.5%) 0.00 722
    2018-08-01 $138,450 (-4.5%) $190,768 (1.4%) 0.00 727
    2018-09-01 $139,000 (-4.1%) $188,595 (-0.1%) 0.00 735
    2018-10-01 $135,000 (-3.5%) $189,306 (0.0%) 0.00 667
    2018-11-01 $129,950 (-3.7%) $188,409 (2.5%) 0.00 601
    2018-12-01 $129,900 (0.0%) $185,084 (2.0%) 0.00 550
    2019-01-01 $129,450 (1.9%) $185,549 (3.9%) 0.00 492
    2019-02-01 $137,000 (7.5%) $195,763 (10.3%) 0.00 485
    2019-03-01 $143,157 (10.2%) $200,983 (11.3%) 0.00 486
    2019-04-01 $145,957 (7.8%) $204,905 (7.1%) 0.00 487
    2019-05-01 $148,700 (3.3%) $212,520 (8.5%) 0.00 511
    2019-06-01 $149,900 (5.6%) $214,198 (8.4%) 0.00 537
    2019-07-01 $149,900 (7.8%) $214,480 (12.2%) 0.00 532
    2019-08-01 $148,657 (7.4%) $210,546 (10.4%) 0.00 528
    2019-09-01 $147,207 (5.9%) $206,388 (9.4%) 0.00 533
    2019-10-01 $129,900 (-3.8%) $183,003 (-3.3%) 0.00 594
    2019-11-01 $125,000 (-3.8%) $188,559 (0.1%) 0.00 561
    2019-12-01 $123,250 (-5.1%) $181,042 (-2.2%) 0.00 554
    2020-01-01 $125,000 (-3.4%) $180,390 (-2.8%) 0.00 505
    2020-02-01 $139,000 (1.5%) $194,970 (-0.4%) 0.00 443
    2020-03-01 $133,450 (-6.8%) $192,980 (-4.0%) 0.00 443
    2020-04-01 $127,500 (-12.7%) $192,704 (-6.0%) 0.00 407
    2020-05-01 $120,000 (-19.3%) $189,722 (-10.7%) 0.00 370
    2020-06-01 $118,000 (-21.3%) $191,638 (-10.5%) 0.00 368
    2020-07-01 $127,500 (-14.9%) $204,866 (-4.5%) 0.00 358
    2020-08-01 $125,000 (-15.9%) $221,683 (5.3%) 0.00 335
    2020-09-01 $123,170 (-16.3%) $228,924 (10.9%) 0.00 327
    2020-10-01 $119,000 (-8.4%) $215,418 (17.7%) 0.00 373
    2020-11-01 $115,000 (-8.0%) $211,072 (11.9%) 0.00 365
    2020-12-01 $121,720 (-1.2%) $211,449 (16.8%) 0.00 330
    2021-01-01 $129,900 (3.9%) $226,922 (25.8%) 0.00 284
    2021-02-01 $139,000 (0.0%) $258,641 (32.7%) 0.00 246
    2021-03-01 $138,000 (3.4%) $269,647 (39.7%) 0.00 221
    2021-04-01 $149,450 (17.2%) $285,280 (48.0%) 0.00 196
    2021-05-01 $159,000 (32.5%) $291,398 (53.6%) 0.00 184
    2021-06-01 $162,450 (37.7%) $275,186 (43.6%) 0.00 199
    2021-07-01 $152,000 (19.2%) $242,640 (18.4%) 0.00 208
    2021-08-01 $143,750 (15.0%) $232,434 (4.9%) 0.00 205
    2021-09-01 $147,000 (19.4%) $248,172 (8.4%) 0.00 183
    2021-10-01 $158,000 (32.8%) $246,985 (14.7%) 0.00 172
    2021-11-01 $154,950 (34.7%) $244,908 (16.0%) 0.00 160
    2021-12-01 $146,500 (20.4%) $254,612 (20.4%) 0.00 144
    2022-01-01 $140,000 (7.8%) $257,445 (13.5%) 0.00 121
    2022-02-01 $124,950 (-10.1%) $218,209 (-15.6%) 0.00 124
    2022-03-01 $156,950 (13.7%) $240,415 (-10.8%) 0.00 116
    2022-04-01 $130,000 (-13.0%) $230,560 (-19.2%) 0.00 128
    Beckley's median listing price for 2022-04-01 was $130,000, a difference of $-19,450 (-13.0%) versus the prior year and $-26,950 versus the prior month.

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

    Beckley's average listing price for 2022-04-01 was $230,560, a difference of $-54,720 (-19.2%) versus the prior year and $-9,855 versus the prior month.

    For the 2022-04-01 period, Beckley had 128 MLS listings, a difference of 12 listings (10%) versus the prior month and -68 listings (-35%) 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 1,845 sqft
    2018-02-01 0 days 1,795 sqft
    2018-03-01 0 days 1,776 sqft
    2018-04-01 0 days 1,793 sqft
    2018-05-01 0 days 1,845 sqft
    2018-06-01 0 days 1,806 sqft
    2018-07-01 0 days 1,799 sqft
    2018-08-01 0 days 1,793 sqft
    2018-09-01 0 days 1,798 sqft
    2018-10-01 0 days 1,780 sqft
    2018-11-01 0 days 1,761 sqft
    2018-12-01 0 days 1,747 sqft
    2019-01-01 0 days 1,743 sqft
    2019-02-01 0 days 1,793 sqft
    2019-03-01 0 days 1,816 sqft
    2019-04-01 0 days 1,839 sqft
    2019-05-01 0 days 1,850 sqft
    2019-06-01 0 days 1,872 sqft
    2019-07-01 0 days 1,867 sqft
    2019-08-01 0 days 1,884 sqft
    2019-09-01 0 days 1,884 sqft
    2019-10-01 0 days 1,887 sqft
    2019-11-01 0 days 1,900 sqft
    2019-12-01 0 days 1,842 sqft
    2020-01-01 0 days 1,808 sqft
    2020-02-01 0 days 1,716 sqft
    2020-03-01 0 days 1,675 sqft
    2020-04-01 0 days 1,661 sqft
    2020-05-01 0 days 1,673 sqft
    2020-06-01 0 days 1,638 sqft
    2020-07-01 0 days 1,729 sqft
    2020-08-01 0 days 1,757 sqft
    2020-09-01 0 days 1,728 sqft
    2020-10-01 0 days 1,599 sqft
    2020-11-01 0 days 1,587 sqft
    2020-12-01 0 days 1,523 sqft
    2021-01-01 0 days 1,564 sqft
    2021-02-01 0 days 1,624 sqft
    2021-03-01 0 days 1,676 sqft
    2021-04-01 0 days 1,741 sqft
    2021-05-01 0 days 1,846 sqft
    2021-06-01 0 days 1,874 sqft
    2021-07-01 0 days 1,814 sqft
    2021-08-01 0 days 1,788 sqft
    2021-09-01 0 days 1,815 sqft
    2021-10-01 0 days 1,835 sqft
    2021-11-01 0 days 1,783 sqft
    2021-12-01 0 days 1,780 sqft
    2022-01-01 0 days 1,594 sqft
    2022-02-01 0 days 1,548 sqft
    2022-03-01 0 days 1,712 sqft
    2022-04-01 0 days 1,620 sqft
    Beckley's median listing age (time on market) for 2022-04-01 was 0 days.

    Beckley's median square footage for active listings during the 2022-04-01 period was 1,620 sqft. One year prior, the average listing was 1,741 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.