Boone VA Loan Rates, Closing Costs & Stats

Boone, NC

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 6.86% for the week of 2024-05-17, compared to the national average (all VA variants) of 6.502% for the same period.

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

The average rate for the prior week (2024-05-10) was 7.06% and one month ago for the week of 2024-04-12, the average rate was 6.64%.

The average rate one year ago was 6.15%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.4%.

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
2024-04-01 $706,000 (8.6%) $1,008,632 (13.5%) 0.00 253
Boone's median listing price for 2024-04-01 was $706,000, a difference of $56,100 (8.6%) versus the prior year and $17,000 versus the prior month.

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

Boone's average listing price for 2024-04-01 was $1,008,632, a difference of $119,818 (13.5%) versus the prior year and $54,719 versus the prior month.

For the 2024-04-01 period, Boone had 253 MLS listings, a difference of 22 listings (10%) versus the prior month and 77 listings (44%) 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
2024-04-01 0 days 2,153 sqft
Boone's median listing age (time on market) for 2024-04-01 was 0 days.

Boone's median square footage for active listings during the 2024-04-01 period was 2,153 sqft. One year prior, the average listing was 1,972 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.