Charleston VA Loan Rates, Closing Costs & Stats
Charleston-Mattoon, IL
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.
Charleston's 18 lenders originated 42 VA loans during 2023. The total origination value was $6,920,000, with an average VA loan value of $164,762.
Charleston VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Charleston
averaged
6.97%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Charleston's average VA mortgage closing costs are $3,892.
The average rate for the prior week (2024-04-12) was
6.7% and
one month ago for the week of 2024-03-15, the
average rate was 6.56%.
The average rate one year ago was 6.25%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
Charleston 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 Charleston level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 19 | 6.84% | $4,229 |
| NAVY FEDERAL CREDIT UNION | 3 | 5.50% | $4,020 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 7.13% | $2,866 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.75% | $1,754 |
| First Financial Bank | 1 | 6.75% | $3,118 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 6.25% | $2,672 |
| FREEDOM MORTGAGE CORPORATION | 1 | 7.75% | $7,601 |
| GUARANTEED RATE, INC. | 1 | 7.75% | $1,425 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 5.75% | $5,654 |
| RUOFF MORTGAGE COMPANY, INC. | 1 | 6.75% | $1,964 |
| Servion, Inc. | 1 | 7.00% | $2,382 |
| The Federal Savings Bank | 1 | 5.75% | $14,947 |
| TOP FLITE FINANCIAL, INC. | 1 | 6.50% | $2,257 |
| USAA Federal Savings Bank | 1 | 6.25% | $14,036 |
| Barrington Bank & Trust Company, N.A. | 1 | 6.75% | $2,568 |
| VILLAGE CAPITAL MORTGAGE | 1 | 5.75% | $6,984 |
| Citizens Bank | 1 | 6.25% | $4,206 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 5.69% | $7,299 |
The top Charleston VA lender as defined by loan originations is Mortgage Research Center, LLC, with
19 VA loans originated. Their average total fees are
$4,229, which is $208
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Charleston VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,229), .
The lowest rate Charleston VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC (6.84%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Charleston (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 | $79,900 (-4.0%) | $116,730 (4.9%) | 0.00 | 234 |
| 2018-02-01 | $79,700 (-8.2%) | $113,958 (-1.6%) | 0.00 | 247 |
| 2018-03-01 | $84,750 (-4.6%) | $119,623 (1.5%) | 0.00 | 265 |
| 2018-04-01 | $89,575 (1.2%) | $124,121 (6.5%) | 0.00 | 269 |
| 2018-05-01 | $94,000 (14.3%) | $132,751 (14.5%) | 0.00 | 280 |
| 2018-06-01 | $99,500 (19.4%) | $132,983 (12.4%) | 0.00 | 307 |
| 2018-07-01 | $94,925 (11.8%) | $129,396 (4.5%) | 0.00 | 321 |
| 2018-08-01 | $94,575 (9.1%) | $129,825 (1.5%) | 0.00 | 330 |
| 2018-09-01 | $89,900 (5.8%) | $125,735 (0.2%) | 0.00 | 328 |
| 2018-10-01 | $89,600 (9.1%) | $124,384 (3.7%) | 0.00 | 312 |
| 2018-11-01 | $89,900 (6.4%) | $125,584 (3.6%) | 0.00 | 303 |
| 2018-12-01 | $89,500 (11.9%) | $123,326 (2.6%) | 0.00 | 292 |
| 2019-01-01 | $89,250 (11.7%) | $122,725 (5.1%) | 0.00 | 291 |
| 2019-02-01 | $89,800 (12.7%) | $124,599 (9.3%) | 0.00 | 295 |
| 2019-03-01 | $89,729 (5.9%) | $124,136 (3.8%) | 0.00 | 278 |
| 2019-04-01 | $89,729 (0.2%) | $122,482 (-1.3%) | 0.00 | 261 |
| 2019-05-01 | $97,125 (3.3%) | $128,486 (-3.2%) | 0.00 | 254 |
| 2019-06-01 | $99,200 (-0.3%) | $127,260 (-4.3%) | 0.00 | 265 |
| 2019-07-01 | $100,950 (6.4%) | $124,936 (-3.5%) | 0.00 | 317 |
| 2019-08-01 | $103,227 (9.2%) | $122,327 (-5.8%) | 0.00 | 316 |
| 2019-09-01 | $105,068 (16.9%) | $121,774 (-3.2%) | 0.00 | 309 |
| 2019-10-01 | $106,295 (18.6%) | $121,405 (-2.4%) | 0.00 | 299 |
| 2019-11-01 | $98,700 (9.8%) | $119,704 (-4.7%) | 0.00 | 283 |
| 2019-12-01 | $89,900 (0.5%) | $126,545 (2.6%) | 0.00 | 268 |
| 2020-01-01 | $89,500 (0.3%) | $127,790 (4.1%) | 0.00 | 246 |
| 2020-02-01 | $89,625 (-0.2%) | $127,090 (2.0%) | 0.00 | 231 |
| 2020-03-01 | $101,250 (12.8%) | $133,145 (7.3%) | 0.00 | 220 |
| 2020-04-01 | $100,500 (12.0%) | $135,376 (10.5%) | 0.00 | 212 |
| 2020-05-01 | $94,900 (-2.3%) | $134,823 (4.9%) | 0.00 | 197 |
| 2020-06-01 | $95,975 (-3.3%) | $134,386 (5.6%) | 0.00 | 189 |
| 2020-07-01 | $93,000 (-7.9%) | $121,199 (-3.0%) | 0.00 | 189 |
| 2020-08-01 | $93,000 (-9.9%) | $116,824 (-4.5%) | 0.00 | 177 |
| 2020-09-01 | $89,500 (-14.8%) | $110,969 (-8.9%) | 0.00 | 156 |
| 2020-10-01 | $88,700 (-16.6%) | $112,555 (-7.3%) | 0.00 | 157 |
| 2020-11-01 | $85,350 (-13.5%) | $106,797 (-10.8%) | 0.00 | 161 |
| 2020-12-01 | $84,900 (-5.6%) | $104,626 (-17.3%) | 0.00 | 136 |
| 2021-01-01 | $81,500 (-8.9%) | $104,053 (-18.6%) | 0.00 | 127 |
| 2021-02-01 | $84,900 (-5.3%) | $108,751 (-14.4%) | 0.00 | 106 |
| 2021-03-01 | $84,925 (-16.1%) | $117,430 (-11.8%) | 0.00 | 100 |
| 2021-04-01 | $87,250 (-13.2%) | $122,823 (-9.3%) | 0.00 | 89 |
| 2021-05-01 | $80,000 (-15.7%) | $122,839 (-8.9%) | 0.00 | 74 |
| 2021-06-01 | $83,950 (-12.5%) | $125,676 (-6.5%) | 0.00 | 79 |
| 2021-07-01 | $84,950 (-8.7%) | $126,770 (4.6%) | 0.00 | 85 |
| 2021-08-01 | $81,750 (-12.1%) | $118,604 (1.5%) | 0.00 | 96 |
| 2021-09-01 | $81,000 (-9.5%) | $120,091 (8.2%) | 0.00 | 85 |
| 2021-10-01 | $85,000 (-4.2%) | $142,176 (26.3%) | 0.00 | 96 |
| 2021-11-01 | $85,000 (-0.4%) | $143,057 (34.0%) | 0.00 | 107 |
| 2021-12-01 | $85,700 (0.9%) | $144,580 (38.2%) | 0.00 | 87 |
| 2022-01-01 | $82,500 (1.2%) | $136,371 (31.1%) | 0.00 | 76 |
| 2022-02-01 | $77,425 (-8.8%) | $127,170 (16.9%) | 0.00 | 77 |
| 2022-03-01 | $73,175 (-13.8%) | $135,500 (15.4%) | 0.00 | 75 |
| 2022-04-01 | $79,900 (-8.4%) | $144,175 (17.4%) | 0.00 | 68 |
| 2022-05-01 | $86,675 (8.3%) | $158,800 (29.3%) | 0.00 | 69 |
| 2022-06-01 | $79,400 (-5.4%) | $154,014 (22.6%) | 0.00 | 61 |
| 2022-07-01 | $87,900 (3.5%) | $145,207 (14.5%) | 0.00 | 70 |
| 2022-08-01 | $88,450 (8.2%) | $164,860 (39.0%) | 0.00 | 74 |
| 2022-09-01 | $106,100 (31.0%) | $178,219 (48.4%) | 0.00 | 78 |
| 2022-10-01 | $112,400 (32.2%) | $174,949 (23.1%) | 0.00 | 88 |
| 2022-11-01 | $117,725 (38.5%) | $180,675 (26.3%) | 0.00 | 84 |
| 2022-12-01 | $116,400 (35.8%) | $200,515 (38.7%) | 0.00 | 82 |
| 2023-01-01 | $138,500 (67.9%) | $222,337 (63.0%) | 0.00 | 79 |
| 2023-02-01 | $132,700 (71.4%) | $219,648 (72.7%) | 0.00 | 73 |
| 2023-03-01 | $147,975 (102.2%) | $231,640 (71.0%) | 0.00 | 68 |
| 2023-04-01 | $143,450 (79.5%) | $236,159 (63.8%) | 0.00 | 59 |
| 2023-05-01 | $159,900 (84.5%) | $237,349 (49.5%) | 0.00 | 58 |
| 2023-06-01 | $175,000 (120.4%) | $248,450 (61.3%) | 0.00 | 50 |
| 2023-07-01 | $173,900 (97.8%) | $230,892 (59.0%) | 0.00 | 55 |
| 2023-08-01 | $177,750 (101.0%) | $238,278 (44.5%) | 0.00 | 61 |
| 2023-09-01 | $158,000 (48.9%) | $206,786 (16.0%) | 0.00 | 73 |
| 2023-10-01 | $149,900 (33.4%) | $189,732 (8.5%) | 0.00 | 79 |
| 2023-11-01 | $160,000 (35.9%) | $191,397 (5.9%) | 0.00 | 74 |
| 2023-12-01 | $159,900 (37.4%) | $181,592 (-9.4%) | 0.00 | 62 |
| 2024-01-01 | $136,175 (-1.7%) | $174,617 (-21.5%) | 0.00 | 45 |
| 2024-02-01 | $142,500 (7.4%) | $171,503 (-21.9%) | 0.00 | 48 |
| 2024-03-01 | $128,000 (-13.5%) | $183,063 (-21.0%) | 0.00 | 56 |
Charleston's median listing price comes in at 0% of the national average.
Charleston's average listing price for 2024-03-01 was $183,063, a difference of $-48,577 (-21.0%) versus the prior year and $11,560 versus the prior month.
For the 2024-03-01 period, Charleston had 56 MLS listings, a difference of 8 listings (17%) versus the prior month and -12 listings (-18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Charleston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,564 sqft |
| 2018-02-01 | 0 days | 1,561 sqft |
| 2018-03-01 | 0 days | 1,564 sqft |
| 2018-04-01 | 0 days | 1,597 sqft |
| 2018-05-01 | 0 days | 1,622 sqft |
| 2018-06-01 | 0 days | 1,660 sqft |
| 2018-07-01 | 0 days | 1,650 sqft |
| 2018-08-01 | 0 days | 1,676 sqft |
| 2018-09-01 | 0 days | 1,646 sqft |
| 2018-10-01 | 0 days | 1,602 sqft |
| 2018-11-01 | 0 days | 1,595 sqft |
| 2018-12-01 | 0 days | 1,592 sqft |
| 2019-01-01 | 0 days | 1,570 sqft |
| 2019-02-01 | 0 days | 1,570 sqft |
| 2019-03-01 | 0 days | 1,537 sqft |
| 2019-04-01 | 0 days | 1,501 sqft |
| 2019-05-01 | 0 days | 1,593 sqft |
| 2019-06-01 | 0 days | 1,574 sqft |
| 2019-07-01 | 0 days | 1,580 sqft |
| 2019-08-01 | 0 days | 1,572 sqft |
| 2019-09-01 | 0 days | 1,588 sqft |
| 2019-10-01 | 0 days | 1,607 sqft |
| 2019-11-01 | 0 days | 1,620 sqft |
| 2019-12-01 | 0 days | 1,618 sqft |
| 2020-01-01 | 0 days | 1,618 sqft |
| 2020-02-01 | 0 days | 1,610 sqft |
| 2020-03-01 | 0 days | 1,658 sqft |
| 2020-04-01 | 0 days | 1,668 sqft |
| 2020-05-01 | 0 days | 1,664 sqft |
| 2020-06-01 | 0 days | 1,673 sqft |
| 2020-07-01 | 0 days | 1,641 sqft |
| 2020-08-01 | 0 days | 1,614 sqft |
| 2020-09-01 | 0 days | 1,568 sqft |
| 2020-10-01 | 0 days | 1,558 sqft |
| 2020-11-01 | 0 days | 1,467 sqft |
| 2020-12-01 | 0 days | 1,492 sqft |
| 2021-01-01 | 0 days | 1,427 sqft |
| 2021-02-01 | 0 days | 1,464 sqft |
| 2021-03-01 | 0 days | 1,541 sqft |
| 2021-04-01 | 0 days | 1,617 sqft |
| 2021-05-01 | 0 days | 1,582 sqft |
| 2021-06-01 | 0 days | 1,457 sqft |
| 2021-07-01 | 0 days | 1,443 sqft |
| 2021-08-01 | 0 days | 1,386 sqft |
| 2021-09-01 | 0 days | 1,420 sqft |
| 2021-10-01 | 0 days | 1,392 sqft |
| 2021-11-01 | 0 days | 1,449 sqft |
| 2021-12-01 | 0 days | 1,438 sqft |
| 2022-01-01 | 0 days | 1,342 sqft |
| 2022-02-01 | 0 days | 1,279 sqft |
| 2022-03-01 | 0 days | 1,246 sqft |
| 2022-04-01 | 0 days | 1,272 sqft |
| 2022-05-01 | 0 days | 1,437 sqft |
| 2022-06-01 | 0 days | 1,452 sqft |
| 2022-07-01 | 0 days | 1,452 sqft |
| 2022-08-01 | 0 days | 1,715 sqft |
| 2022-09-01 | 0 days | 1,921 sqft |
| 2022-10-01 | 0 days | 1,894 sqft |
| 2022-11-01 | 0 days | 1,484 sqft |
| 2022-12-01 | 0 days | 1,626 sqft |
| 2023-01-01 | 0 days | 1,637 sqft |
| 2023-02-01 | 0 days | 1,636 sqft |
| 2023-03-01 | 0 days | 1,640 sqft |
| 2023-04-01 | 0 days | 1,696 sqft |
| 2023-05-01 | 0 days | 1,654 sqft |
| 2023-06-01 | 0 days | 1,756 sqft |
| 2023-07-01 | 0 days | 1,766 sqft |
| 2023-08-01 | 0 days | 1,728 sqft |
| 2023-09-01 | 0 days | 1,760 sqft |
| 2023-10-01 | 0 days | 1,581 sqft |
| 2023-11-01 | 0 days | 1,603 sqft |
| 2023-12-01 | 0 days | 1,540 sqft |
| 2024-01-01 | 0 days | 1,537 sqft |
| 2024-02-01 | 0 days | 1,803 sqft |
| 2024-03-01 | 0 days | 1,604 sqft |
Charleston's median square footage for active listings during the 2024-03-01 period was 1,604 sqft. One year prior, the average listing was 1,640 sqft.