Blacksburg VA Loan Rates, Closing Costs & Stats

BLACKSBURG-CHRISTIANSBURG, VA

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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.

    Blacksburg's 41 lenders originated 130 VA loans during 2023. The total origination value was $39,860,000, with an average VA loan value of $306,615.

    Blacksburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Blacksburg averaged 6.91% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Blacksburg's average VA mortgage closing costs are $5,928.

    The average rate for the prior week (2024-04-12) was 6.74% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.86%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.67% $4,471
    Alcova Mortgage LLC 9 6.49% $12,046
    USAA Federal Savings Bank 9 5.88% $10,846
    NAVY FEDERAL CREDIT UNION 7 5.88% $3,883
    Waterstone Mortgage Corporation 7 6.46% $9,845
    QUICKEN LOANS, LLC 7 6.21% $9,137
    MOVEMENT MORTGAGE, LLC 7 6.84% $5,820
    PENNYMAC LOAN SERVICES, LLC 5 5.43% $13,203
    Prosperity Home Mortgage, LLC 4 6.69% $10,412
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.63% $6,352
    First Heritage Mortgage, LLC 4 6.59% $5,246
    FREEDOM MORTGAGE CORPORATION 3 6.88% $8,689
    FREEDOM FIRST 3 6.50% $5,770
    UNION HOME MORTGAGE CORP. 3 6.63% $4,990
    UNITED WHOLESALE MORTGAGE, LLC 3 6.82% $5,089
    VILLAGE CAPITAL MORTGAGE 2 6.82% $4,869
    LOANDEPOT.COM, LLC 2 6.43% $13,564
    Renasant Bank 2 6.00% $5,013
    Mid-Continent Funding, Inc. 2 6.25% $5,538
    NEW DAY FINANCIAL, LLC 2 6.93% $7,659
    The Federal Savings Bank 1 7.13% $13,126
    Truist 1 6.25% $6,820
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $13,420
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $17,451
    Atlantic Union Bank 1 6.00% $4,822
    BROKER SOLUTIONS, INC. 1 6.75% $13,578
    CARDINAL FINANCIAL 1 6.75% $14,542
    Citizens Bank 1 6.25% $5,135
    CMG MORTGAGE, INC. 1 5.75% $32,352
    CONTOUR MORTGAGE CORPORATION 1 7.25% $6,632
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $5,361
    EMBRACE HOME LOANS, INC. 1 6.13% $13,037
    Equity Prime Mortgage LLC 1 6.75% $14,552
    GENEVA FINANCIAL, LLC 1 6.75% $13,635
    LOANPAL, LLC 1 6.38% $11,904
    Magnolia Bank 1 6.25% $15,167
    MILEND, INC. 1 7.13% $27,954
    MORTGAGEONE, INC. 1 7.50% $14,450
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $12,909
    PENTAGON FEDERAL CREDIT UNION 1 6.50% $5,748
    Plains Commerce Bank 1 5.63% $11,929

    The top Blacksburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $4,471, which is $7,575 lower than the next largest lender, Alcova Mortgage LLC.

    The lowest fee Blacksburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,471), .

    The lowest rate Blacksburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.67%), .

    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
    2024-02-01 $367,000 (5.8%) $460,358 (1.7%) 0.88 185
    2024-03-01 $369,000 (8.6%) $470,002 (3.3%) 0.87 206
    Blacksburg's median listing price for 2024-03-01 was $369,000, a difference of $29,100 (8.6%) versus the prior year and $2,000 versus the prior month.

    Blacksburg's median listing price comes in at 87% of the national average.

    Blacksburg's average listing price for 2024-03-01 was $470,002, a difference of $14,879 (3.3%) versus the prior year and $9,644 versus the prior month.

    For the 2024-03-01 period, Blacksburg had 206 MLS listings, a difference of 21 listings (11%) versus the prior month and 25 listings (14%) 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
    2024-02-01 59 days 2,078 sqft
    2024-03-01 43 days 2,019 sqft
    Blacksburg's median listing age (time on market) for 2024-03-01 was 43 days. This is -3% shorter than the same period one year ago.

    Blacksburg's median square footage for active listings during the 2024-03-01 period was 2,019 sqft. One year prior, the average listing was 1,928 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.