Beckley VA Loans

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 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.