Boone VA Loan Rates, Closing Costs & Stats

Boone, NC

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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.

    Boone's 15 lenders originated 22 VA loans during 2023. The total origination value was $9,300,000, with an average VA loan value of $422,727.

    Boone VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Boone 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.

    Boone's average VA mortgage closing costs are $6,574.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 6.71%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

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

    Boone 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 Boone level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 2 5.31% $17,735
    Mortgage Research Center, LLC 2 6.81% $20,405
    NAVY FEDERAL CREDIT UNION 2 5.81% $2,761
    GoPrime Mortgage, Inc. 1 5.00% $17,564
    INTERCOASTAL MORTGAGE COMPANY 1 6.25% $1,747
    MICHIGAN MUTUAL, INC. 1 4.75% $5,202
    NEW DAY FINANCIAL, LLC 1 7.25% $15,851
    QUICKEN LOANS, LLC 1 7.00% $24,318
    Regions Bank 1 5.75% $4,253
    The Federal Savings Bank 1 6.75% $7,377
    USAA Federal Savings Bank 1 6.88% $3,784
    AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $13,612
    U.S. Bank 1 6.38% $5,698
    Ameris Bank 1 6.63% $9,045
    FREEDOM MORTGAGE CORPORATION 1 7.25% $24,603

    The top Boone VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2 VA loans originated. Their average total fees are $17,735, which is $2,670 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Boone VA lenders (with over 10 loans originated) are .

    The lowest rate Boone VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Boone (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 $346,375 (15.8%) $493,892 (17.7%) 0.00 708
    2018-02-01 $354,450 (19.5%) $510,990 (25.4%) 0.00 693
    2018-03-01 $374,950 (25.3%) $523,338 (26.5%) 0.00 691
    2018-04-01 $359,250 (19.8%) $516,660 (24.3%) 0.00 727
    2018-05-01 $360,975 (43.0%) $512,247 (39.2%) 0.00 778
    2018-06-01 $378,000 (90.0%) $522,783 (67.8%) 0.00 870
    2018-07-01 $289,000 (44.6%) $428,860 (35.7%) 0.00 1,297
    2018-08-01 $199,000 (-39.6%) $325,938 (-28.4%) 0.00 1,651
    2018-09-01 $199,000 (-39.7%) $327,147 (-29.1%) 0.00 1,643
    2018-10-01 $189,950 (-42.6%) $322,514 (-31.0%) 0.00 1,620
    2018-11-01 $179,125 (-45.4%) $312,033 (-32.8%) 0.00 1,569
    2018-12-01 $169,900 (-48.4%) $309,238 (-35.2%) 0.00 1,462
    2019-01-01 $159,406 (-54.0%) $301,611 (-38.9%) 0.00 1,309
    2019-02-01 $150,000 (-57.7%) $296,573 (-42.0%) 0.00 1,312
    2019-03-01 $256,714 (-31.5%) $421,427 (-19.5%) 0.00 1,007
    2019-04-01 $399,000 (11.1%) $580,398 (12.3%) 0.00 604
    2019-05-01 $393,724 (9.1%) $573,043 (11.9%) 0.00 594
    2019-06-01 $399,000 (5.6%) $579,251 (10.8%) 0.00 659
    2019-07-01 $399,000 (38.1%) $585,451 (36.5%) 0.00 691
    2019-08-01 $404,455 (103.2%) $596,066 (82.9%) 0.00 673
    2019-09-01 $412,636 (107.4%) $608,081 (85.9%) 0.00 647
    2019-10-01 $421,950 (122.1%) $618,703 (91.8%) 0.00 620
    2019-11-01 $422,450 (135.8%) $616,801 (97.7%) 0.00 542
    2019-12-01 $417,475 (145.7%) $611,010 (97.6%) 0.00 494
    2020-01-01 $421,225 (164.3%) $617,287 (104.7%) 0.00 436
    2020-02-01 $435,000 (190.0%) $630,871 (112.7%) 0.00 412
    2020-03-01 $449,000 (74.9%) $624,023 (48.1%) 0.00 418
    2020-04-01 $449,000 (12.5%) $627,508 (8.1%) 0.00 422
    2020-05-01 $450,000 (14.3%) $651,679 (13.7%) 0.00 424
    2020-06-01 $460,975 (15.5%) $661,925 (14.3%) 0.00 390
    2020-07-01 $485,250 (21.6%) $707,508 (20.9%) 0.00 333
    2020-08-01 $498,500 (23.3%) $718,827 (20.6%) 0.00 266
    2020-09-01 $499,225 (21.0%) $746,642 (22.8%) 0.00 239
    2020-10-01 $524,900 (24.4%) $754,540 (22.0%) 0.00 212
    2020-11-01 $517,500 (22.5%) $780,550 (26.6%) 0.00 192
    2020-12-01 $499,475 (19.6%) $760,322 (24.4%) 0.00 173
    2021-01-01 $499,000 (18.5%) $767,078 (24.3%) 0.00 145
    2021-02-01 $570,000 (31.0%) $905,281 (43.5%) 0.00 127
    2021-03-01 $564,725 (25.8%) $924,602 (48.2%) 0.00 111
    2021-04-01 $597,250 (33.0%) $972,938 (55.1%) 0.00 117
    2021-05-01 $632,000 (40.4%) $985,892 (51.3%) 0.00 162
    2021-06-01 $612,000 (32.8%) $920,149 (39.0%) 0.00 192
    2021-07-01 $599,450 (23.5%) $890,711 (25.9%) 0.00 215
    2021-08-01 $580,725 (16.5%) $878,825 (22.3%) 0.00 203
    2021-09-01 $593,975 (19.0%) $880,738 (18.0%) 0.00 179
    2021-10-01 $592,500 (12.9%) $811,620 (7.6%) 0.00 175
    2021-11-01 $555,950 (7.4%) $766,958 (-1.7%) 0.00 151
    2021-12-01 $596,000 (19.3%) $817,937 (7.6%) 0.00 114
    2022-01-01 $727,000 (45.7%) $1,048,855 (36.7%) 0.00 90
    2022-02-01 $712,000 (24.9%) $1,053,424 (16.4%) 0.00 87
    2022-03-01 $727,500 (28.8%) $1,064,925 (15.2%) 0.00 96
    2022-04-01 $642,450 (7.6%) $944,956 (-2.9%) 0.00 124
    2022-05-01 $638,432 (1.0%) $916,245 (-7.1%) 0.00 171
    2022-06-01 $658,500 (7.6%) $853,659 (-7.2%) 0.00 224
    2022-07-01 $658,500 (9.9%) $850,569 (-4.5%) 0.00 290
    2022-08-01 $649,925 (11.9%) $849,099 (-3.4%) 0.00 281
    2022-09-01 $699,450 (17.8%) $928,004 (5.4%) 0.00 246
    2022-10-01 $699,000 (18.0%) $933,858 (15.1%) 0.00 220
    2022-11-01 $699,000 (25.7%) $939,667 (22.5%) 0.00 212
    2022-12-01 $699,000 (17.3%) $909,155 (11.2%) 0.00 194
    2023-01-01 $716,070 (-1.5%) $945,210 (-9.9%) 0.00 163
    2023-02-01 $699,000 (-1.8%) $937,519 (-11.0%) 0.00 142
    2023-03-01 $693,500 (-4.7%) $929,255 (-12.7%) 0.00 152
    2023-04-01 $649,900 (1.2%) $888,814 (-5.9%) 0.00 176
    2023-05-01 $684,000 (7.1%) $928,081 (1.3%) 0.00 220
    2023-06-01 $675,000 (2.5%) $884,706 (3.6%) 0.00 255
    2023-07-01 $699,900 (6.3%) $935,979 (10.0%) 0.00 264
    2023-08-01 $719,225 (10.7%) $935,957 (10.2%) 0.00 260
    2023-09-01 $733,139 (4.8%) $935,889 (0.9%) 0.00 260
    2023-10-01 $698,450 (-0.1%) $931,878 (-0.2%) 0.00 268
    2023-11-01 $699,000 (0.0%) $931,497 (-0.9%) 0.00 281
    2023-12-01 $694,950 (-0.6%) $927,026 (2.0%) 0.00 279
    2024-01-01 $663,500 (-7.3%) $915,886 (-3.1%) 0.00 255
    2024-02-01 $658,500 (-5.8%) $918,474 (-2.0%) 0.00 232
    2024-03-01 $689,000 (-0.7%) $953,913 (2.7%) 0.00 231
    Boone's median listing price for 2024-03-01 was $689,000, a difference of $-4,500 (-0.7%) versus the prior year and $30,500 versus the prior month.

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

    Boone's average listing price for 2024-03-01 was $953,913, a difference of $24,658 (2.7%) versus the prior year and $35,439 versus the prior month.

    For the 2024-03-01 period, Boone had 231 MLS listings, a difference of -1 listings (0%) versus the prior month and 79 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Boone (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,061 sqft
    2018-02-01 0 days 2,091 sqft
    2018-03-01 0 days 2,147 sqft
    2018-04-01 0 days 2,144 sqft
    2018-05-01 0 days 2,154 sqft
    2018-06-01 0 days 2,185 sqft
    2018-07-01 0 days 2,199 sqft
    2018-08-01 0 days 2,165 sqft
    2018-09-01 0 days 2,182 sqft
    2018-10-01 0 days 2,182 sqft
    2018-11-01 0 days 2,166 sqft
    2018-12-01 0 days 2,197 sqft
    2019-01-01 0 days 2,186 sqft
    2019-02-01 0 days 2,173 sqft
    2019-03-01 0 days 2,238 sqft
    2019-04-01 0 days 2,234 sqft
    2019-05-01 0 days 2,169 sqft
    2019-06-01 0 days 2,210 sqft
    2019-07-01 0 days 2,297 sqft
    2019-08-01 0 days 2,327 sqft
    2019-09-01 0 days 2,368 sqft
    2019-10-01 0 days 2,407 sqft
    2019-11-01 0 days 2,372 sqft
    2019-12-01 0 days 2,305 sqft
    2020-01-01 0 days 2,332 sqft
    2020-02-01 0 days 2,400 sqft
    2020-03-01 0 days 2,327 sqft
    2020-04-01 0 days 2,298 sqft
    2020-05-01 0 days 2,352 sqft
    2020-06-01 0 days 2,378 sqft
    2020-07-01 0 days 2,526 sqft
    2020-08-01 0 days 2,534 sqft
    2020-09-01 0 days 2,513 sqft
    2020-10-01 0 days 2,406 sqft
    2020-11-01 0 days 2,408 sqft
    2020-12-01 0 days 2,365 sqft
    2021-01-01 0 days 2,278 sqft
    2021-02-01 0 days 2,538 sqft
    2021-03-01 0 days 2,418 sqft
    2021-04-01 0 days 2,502 sqft
    2021-05-01 0 days 2,605 sqft
    2021-06-01 0 days 2,583 sqft
    2021-07-01 0 days 2,533 sqft
    2021-08-01 0 days 2,402 sqft
    2021-09-01 0 days 2,358 sqft
    2021-10-01 0 days 2,172 sqft
    2021-11-01 0 days 2,037 sqft
    2021-12-01 0 days 2,130 sqft
    2022-01-01 0 days 2,443 sqft
    2022-02-01 0 days 2,218 sqft
    2022-03-01 0 days 2,231 sqft
    2022-04-01 0 days 2,167 sqft
    2022-05-01 0 days 2,214 sqft
    2022-06-01 0 days 2,222 sqft
    2022-07-01 0 days 2,170 sqft
    2022-08-01 0 days 2,143 sqft
    2022-09-01 0 days 2,193 sqft
    2022-10-01 0 days 2,187 sqft
    2022-11-01 0 days 2,133 sqft
    2022-12-01 0 days 2,116 sqft
    2023-01-01 0 days 2,095 sqft
    2023-02-01 0 days 2,025 sqft
    2023-03-01 0 days 2,040 sqft
    2023-04-01 0 days 1,972 sqft
    2023-05-01 0 days 2,003 sqft
    2023-06-01 0 days 2,024 sqft
    2023-07-01 0 days 2,131 sqft
    2023-08-01 0 days 2,224 sqft
    2023-09-01 0 days 2,164 sqft
    2023-10-01 0 days 2,140 sqft
    2023-11-01 0 days 2,098 sqft
    2023-12-01 0 days 2,073 sqft
    2024-01-01 0 days 2,006 sqft
    2024-02-01 0 days 1,954 sqft
    2024-03-01 0 days 2,076 sqft
    Boone's median listing age (time on market) for 2024-03-01 was 0 days.

    Boone's median square footage for active listings during the 2024-03-01 period was 2,076 sqft. One year prior, the average listing was 2,040 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.