Blacksburg VA Loan Rates, Closing Costs & Stats

BLACKSBURG-CHRISTIANSBURG, VA

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.

Blacksburg's 44 lenders originated 179 VA loans during 2022. The total origination value was $52,985,000, with an average VA loan value of $296,006.

Blacksburg VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Blacksburg averaged 6.37% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Blacksburg's average VA mortgage closing costs are $5,643.

The average rate for the prior week (2024-02-23) was 6.59% and one month ago for the week of 2024-01-26, the average rate was 6.32%.

The average rate one year ago was 5.96%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.36%.

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

Blacksburg 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 Blacksburg level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 20 4.77% $6,716
Alcova Mortgage LLC 15 5.43% $12,351
QUICKEN LOANS, LLC 14 4.42% $8,256
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 11 5.35% $10,098
USAA Federal Savings Bank 10 3.73% $5,400
Prosperity Home Mortgage, LLC 9 3.99% $7,667
PENNYMAC LOAN SERVICES, LLC 9 3.64% $6,804
First Heritage Mortgage, LLC 7 5.23% $11,311
NAVY FEDERAL CREDIT UNION 7 3.63% $4,624
EMBRACE HOME LOANS, INC. 6 4.04% $12,237
Citizens Bank 5 4.85% $7,820
UNITED WHOLESALE MORTGAGE, LLC 4 3.43% $10,177
MOVEMENT MORTGAGE, LLC 4 5.09% $4,134
FREEDOM FIRST 3 3.29% $4,238
Wells Fargo Bank 3 3.04% $5,919
OVM FINANCIAL, INC. 3 4.67% $15,887
NEW DAY FINANCIAL, LLC 3 4.75% $10,268
CARDINAL FINANCIAL 3 4.50% $12,486
The Federal Savings Bank 3 4.33% $22,223
NEWREZ LLC 2 4.50% $4,825
FREEDOM MORTGAGE CORPORATION 2 4.00% $8,693
LOANDEPOT.COM, LLC 2 3.69% $23,880
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.50% $8,515
Waterstone Mortgage Corporation 2 5.38% $3,552
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $11,049
MANN FINANCIAL INC. 1 3.00% $2,710
LOANPAL, LLC 1 3.63% $7,531
Integrity Home Mortgage Corp 1 6.75% $3,825
GUARANTEED RATE, INC. 1 6.08% $2,799
Flagstar Bank, FSB 1 7.00% $5,727
PENTAGON FEDERAL CREDIT UNION 1 4.13% $12,872
PLANET HOME LENDING, LLC 1 3.25% $1,045
American Security Mortgage Corp. 1 3.75% $3,712
First Federal Bank 1 2.75% $4,764
BROKER SOLUTIONS, INC. 1 4.75% $6,342
Sunflower Bank 1 4.63% $10,748
The Central Trust Bank 1 2.25% $9,215
Blue Ridge Bank 1 3.00% $3,747
Truist 1 6.75% $790
Atlantic Union Bank 1 6.13% $0
AMERISAVE MORTGAGE CORPORATION 1 5.25% $8,608
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.00% $0
Mid-Continent Funding, Inc. 1 2.50% $28,543
Mr. Cooper ( Nationstar Mortgage ) 1 4.25% $16,056

The top Blacksburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 20 VA loans originated. Their average total fees are $6,716, which is $5,636 lower than the next largest lender, Alcova Mortgage LLC.

The lowest fee Blacksburg VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($5,400), Mortgage Research Center, LLC ($6,716), QUICKEN LOANS, LLC ($8,256), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($10,098) and Alcova Mortgage LLC ($12,351).

The lowest rate Blacksburg VA lenders (with over 10 loans originated) are USAA Federal Savings Bank (3.73%), QUICKEN LOANS, LLC (4.42%), Mortgage Research Center, LLC (4.77%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (5.35%) and Alcova Mortgage LLC (5.43%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Blacksburg (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 $231,200 (42.4%) $345,598 (56.8%) 0.86 395
2018-02-01 $221,900 (29.8%) $278,295 (20.4%) 0.81 410
2018-03-01 $224,900 (20.4%) $277,334 (14.3%) 0.79 442
2018-04-01 $229,225 (14.9%) $283,519 (10.4%) 0.78 442
2018-05-01 $225,000 (12.8%) $277,544 (7.7%) 0.75 491
2018-06-01 $215,900 (7.1%) $278,724 (7.4%) 0.72 514
2018-07-01 $209,900 (5.2%) $269,496 (4.5%) 0.70 553
2018-08-01 $211,000 (6.0%) $272,680 (4.9%) 0.71 544
2018-09-01 $210,000 (3.3%) $273,740 (6.3%) 0.71 528
2018-10-01 $211,850 (1.1%) $264,112 (1.6%) 0.72 509
2018-11-01 $216,400 (-0.3%) $273,605 (2.9%) 0.73 473
2018-12-01 $217,900 (-3.2%) $281,719 (1.0%) 0.75 422
2019-01-01 $214,994 (-7.0%) $293,331 (-15.1%) 0.74 392
2019-02-01 $229,900 (3.6%) $301,546 (8.4%) 0.78 377
2019-03-01 $234,229 (4.2%) $307,816 (11.0%) 0.77 386
2019-04-01 $239,600 (4.5%) $315,075 (11.1%) 0.76 396
2019-05-01 $237,113 (5.4%) $311,115 (12.1%) 0.74 421
2019-06-01 $239,000 (10.7%) $322,917 (15.9%) 0.75 410
2019-07-01 $249,938 (19.1%) $343,784 (27.6%) 0.78 414
2019-08-01 $244,464 (15.9%) $338,071 (24.0%) 0.77 410
2019-09-01 $236,272 (12.5%) $331,192 (21.0%) 0.76 399
2019-10-01 $229,450 (8.3%) $320,595 (21.4%) 0.74 386
2019-11-01 $227,000 (4.9%) $312,838 (14.3%) 0.74 360
2019-12-01 $214,900 (-1.4%) $317,806 (12.8%) 0.72 315
2020-01-01 $204,838 (-4.7%) $307,666 (4.9%) 0.68 301
2020-02-01 $205,000 (-10.8%) $315,367 (4.6%) 0.67 293
2020-03-01 $234,238 (0.0%) $316,728 (2.9%) 0.73 308
2020-04-01 $237,975 (-0.7%) $321,511 (2.0%) 0.75 306
2020-05-01 $253,900 (7.1%) $338,708 (8.9%) 0.77 259
2020-06-01 $268,100 (12.2%) $346,021 (7.2%) 0.79 273
2020-07-01 $269,200 (7.7%) $351,142 (2.1%) 0.78 252
2020-08-01 $259,945 (6.3%) $349,046 (3.3%) 0.74 242
2020-09-01 $241,950 (2.4%) $340,893 (2.9%) 0.69 239
2020-10-01 $239,900 (4.6%) $332,872 (3.8%) 0.69 234
2020-11-01 $234,563 (3.3%) $323,706 (3.5%) 0.69 229
2020-12-01 $228,450 (6.3%) $319,228 (0.5%) 0.68 205
2021-01-01 $244,750 (19.5%) $323,869 (5.3%) 0.73 167
2021-02-01 $252,350 (23.1%) $339,681 (7.7%) 0.73 151
2021-03-01 $272,400 (16.3%) $360,571 (13.8%) 0.77 133
2021-04-01 $287,950 (21.0%) $407,221 (26.7%) 0.78 142
2021-05-01 $296,900 (16.9%) $398,535 (17.7%) 0.79 152
2021-06-01 $296,725 (10.7%) $390,176 (12.8%) 0.78 186
2021-07-01 $289,900 (7.7%) $405,940 (15.6%) 0.76 208
2021-08-01 $285,150 (9.7%) $387,677 (11.1%) 0.76 198
2021-09-01 $276,000 (14.1%) $383,540 (12.5%) 0.74 199
2021-10-01 $259,900 (8.3%) $360,854 (8.4%) 0.69 178
2021-11-01 $249,900 (6.5%) $368,147 (13.7%) 0.67 142
2021-12-01 $249,900 (9.4%) $377,967 (18.4%) 0.68 124
2022-01-01 $262,950 (7.4%) $419,181 (29.4%) 0.71 109
2022-02-01 $267,700 (6.1%) $405,739 (19.5%) 0.70 129
2022-03-01 $294,900 (8.3%) $435,784 (20.9%) 0.74 122
2022-04-01 $307,200 (6.7%) $441,260 (8.4%) 0.73 154
2022-05-01 $349,900 (17.9%) $447,883 (12.4%) 0.80 196
2022-06-01 $349,725 (17.9%) $441,520 (13.2%) 0.78 236
2022-07-01 $359,000 (23.8%) $429,377 (5.8%) 0.81 254
2022-08-01 $327,375 (14.8%) $416,029 (7.3%) 0.76 238
2022-09-01 $289,000 (4.7%) $391,662 (2.1%) 0.68 230
2022-10-01 $315,000 (21.2%) $406,183 (12.6%) 0.74 223
2022-11-01 $323,620 (29.5%) $412,406 (12.0%) 0.78 209
2022-12-01 $325,000 (30.1%) $430,258 (13.8%) 0.80 178
2023-01-01 $344,950 (31.2%) $449,874 (7.3%) 0.85 157
2023-02-01 $346,975 (29.6%) $452,823 (11.6%) 0.84 172
2023-03-01 $339,900 (15.3%) $455,123 (4.4%) 0.80 181
2023-04-01 $355,250 (15.6%) $464,552 (5.3%) 0.83 178
2023-05-01 $388,863 (11.1%) $484,930 (8.3%) 0.88 181
2023-06-01 $367,425 (5.1%) $475,854 (7.8%) 0.83 188
2023-07-01 $369,900 (3.0%) $474,197 (10.4%) 0.84 190
2023-08-01 $370,000 (13.0%) $472,767 (13.6%) 0.85 198
2023-09-01 $357,475 (23.7%) $465,953 (19.0%) 0.83 209
2023-10-01 $352,500 (11.9%) $454,430 (11.9%) 0.83 224
2023-11-01 $364,475 (12.6%) $463,287 (12.3%) 0.87 223
2023-12-01 $369,000 (13.5%) $461,242 (7.2%) 0.90 214
2024-01-01 $367,000 (6.4%) $458,436 (1.9%) 0.90 195
Blacksburg's median listing price for 2024-01-01 was $367,000, a difference of $22,050 (6.4%) versus the prior year and $-2,000 versus the prior month.

Blacksburg's median listing price comes in at 90% of the national average.

Blacksburg's average listing price for 2024-01-01 was $458,436, a difference of $8,562 (1.9%) versus the prior year and $-2,806 versus the prior month.

For the 2024-01-01 period, Blacksburg had 195 MLS listings, a difference of -19 listings (-9%) versus the prior month and 38 listings (24%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Blacksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 91 days 1,942 sqft
2018-02-01 84 days 1,872 sqft
2018-03-01 59 days 1,860 sqft
2018-04-01 54 days 1,908 sqft
2018-05-01 48 days 1,866 sqft
2018-06-01 50 days 1,850 sqft
2018-07-01 61 days 1,809 sqft
2018-08-01 64 days 1,849 sqft
2018-09-01 80 days 1,850 sqft
2018-10-01 86 days 1,820 sqft
2018-11-01 96 days 1,835 sqft
2018-12-01 102 days 1,800 sqft
2019-01-01 104 days 1,835 sqft
2019-02-01 103 days 1,850 sqft
2019-03-01 70 days 1,849 sqft
2019-04-01 43 days 1,912 sqft
2019-05-01 45 days 1,874 sqft
2019-06-01 55 days 1,916 sqft
2019-07-01 66 days 1,975 sqft
2019-08-01 71 days 1,960 sqft
2019-09-01 75 days 1,938 sqft
2019-10-01 82 days 1,912 sqft
2019-11-01 89 days 1,836 sqft
2019-12-01 100 days 1,769 sqft
2020-01-01 93 days 1,713 sqft
2020-02-01 87 days 1,730 sqft
2020-03-01 65 days 1,804 sqft
2020-04-01 62 days 1,865 sqft
2020-05-01 79 days 1,875 sqft
2020-06-01 71 days 1,960 sqft
2020-07-01 57 days 1,979 sqft
2020-08-01 67 days 1,956 sqft
2020-09-01 59 days 1,919 sqft
2020-10-01 61 days 1,820 sqft
2020-11-01 61 days 1,822 sqft
2020-12-01 66 days 1,745 sqft
2021-01-01 79 days 1,728 sqft
2021-02-01 81 days 1,796 sqft
2021-03-01 53 days 1,976 sqft
2021-04-01 38 days 2,048 sqft
2021-05-01 40 days 1,875 sqft
2021-06-01 40 days 1,880 sqft
2021-07-01 47 days 1,903 sqft
2021-08-01 52 days 1,800 sqft
2021-09-01 55 days 1,775 sqft
2021-10-01 61 days 1,755 sqft
2021-11-01 76 days 1,724 sqft
2021-12-01 87 days 1,712 sqft
2022-01-01 64 days 1,749 sqft
2022-02-01 37 days 1,672 sqft
2022-03-01 38 days 1,769 sqft
2022-04-01 38 days 1,818 sqft
2022-05-01 31 days 1,985 sqft
2022-06-01 34 days 2,058 sqft
2022-07-01 45 days 2,025 sqft
2022-08-01 48 days 1,970 sqft
2022-09-01 52 days 1,896 sqft
2022-10-01 59 days 1,931 sqft
2022-11-01 55 days 1,943 sqft
2022-12-01 65 days 1,900 sqft
2023-01-01 68 days 1,988 sqft
2023-02-01 44 days 1,944 sqft
2023-03-01 45 days 1,928 sqft
2023-04-01 47 days 1,932 sqft
2023-05-01 44 days 1,971 sqft
2023-06-01 43 days 1,995 sqft
2023-07-01 43 days 2,134 sqft
2023-08-01 40 days 2,051 sqft
2023-09-01 41 days 2,024 sqft
2023-10-01 45 days 1,959 sqft
2023-11-01 46 days 1,967 sqft
2023-12-01 51 days 2,028 sqft
2024-01-01 61 days 2,066 sqft
Blacksburg's median listing age (time on market) for 2024-01-01 was 61 days. This is -10% shorter than the same period one year ago.

Blacksburg's median square footage for active listings during the 2024-01-01 period was 2,066 sqft. One year prior, the average listing was 1,988 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.