Charleston VA Loan Rates, Closing Costs & Stats

CHARLESTON-NORTH CHARLESTON, SC

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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.

    Charleston's 178 lenders originated 3,046 VA loans during 2023. The total origination value was $1,160,680,000, with an average VA loan value of $381,051.

    Charleston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Charleston averaged 6.44% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Charleston's average VA mortgage closing costs are $6,841.

    The average rate for the prior week (2024-07-12) was 6.38% and one month ago for the week of 2024-06-14, the average rate was 6.54%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.63%.

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

    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
    DHI MORTGAGE COMPANY, LTD. 342 5.22% $8,116
    Mortgage Research Center, LLC 209 6.55% $8,619
    EAGLE HOME MORTGAGE, LLC 209 5.71% $7,237
    UNITED WHOLESALE MORTGAGE, LLC 207 6.24% $9,648
    NAVY FEDERAL CREDIT UNION 149 5.75% $7,448
    QUICKEN LOANS, LLC 127 6.06% $13,043
    MOVEMENT MORTGAGE, LLC 97 6.25% $10,570
    FREEDOM MORTGAGE CORPORATION 70 6.45% $16,701
    CORNERSTONE HOME LENDING, INC. 61 6.10% $6,999
    VELOCIO MORTGAGE L.L.C. 58 5.54% $8,064
    AMERICAN PACIFIC MORTGAGE CORPORATION 55 6.47% $14,081
    CMG MORTGAGE, INC. 54 6.34% $10,136
    CROSSCOUNTRY MORTGAGE, LLC 51 6.62% $10,052
    Ameris Bank 46 6.20% $10,324
    USAA Federal Savings Bank 43 6.19% $11,448
    CAROLINA ONE MORTGAGE, LLC 40 6.33% $11,866
    PENNYMAC LOAN SERVICES, LLC 39 5.54% $9,905
    GUARANTEED RATE, INC. 38 5.99% $10,236
    LOANDEPOT.COM, LLC 38 6.11% $13,201
    NEW DAY FINANCIAL, LLC 34 7.40% $16,404
    NTFN, INC. 32 6.32% $8,714
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 31 6.50% $11,234
    PULTE MORTGAGE LLC 26 6.17% $7,144
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 26 6.32% $9,985
    CARDINAL FINANCIAL 26 6.52% $13,191
    GUARANTEED RATE AFFINITY, LLC 25 6.20% $9,254
    PRIMELENDING, A PLAINSCAPITAL COMPANY 24 6.56% $5,681
    INTERLINC MORTGAGE SERVICES, LLC 24 6.40% $9,100
    CALCON MUTUAL MORTGAGE LLC 23 6.70% $12,618
    Prosperity Home Mortgage, LLC 23 6.10% $10,380
    GUILD MORTGAGE COMPANY 22 6.32% $12,517
    The Federal Savings Bank 18 6.23% $18,546
    Princeton Mortgage Corporation 18 6.42% $12,124
    Mr. Cooper ( Nationstar Mortgage ) 18 6.05% $15,402
    VANDERBILT MORTGAGE AND FINANCE, INC. 17 5.85% $5,982
    NBKC BANK 17 5.79% $11,046
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 16 6.32% $8,776
    MUTUAL OF OMAHA MORTGAGE, INC. 16 6.13% $14,187
    Nations Lending Corporation 16 6.31% $10,811
    FIRST HOME MORTGAGE CORPORATION 16 6.59% $9,154
    NEWREZ LLC 15 6.22% $11,967
    MORTGAGE EQUITY PARTNERS LLC 15 6.09% $15,644
    BROKER SOLUTIONS, INC. 14 6.14% $10,453
    MIDLAND MORTGAGE CORPORATION 14 6.25% $8,937
    DIRECT MORTGAGE LOANS, LLC 14 7.03% $12,391
    VILLAGE CAPITAL MORTGAGE 14 6.04% $9,851
    Truist 13 5.89% $8,338
    Wells Fargo Bank 11 5.65% $11,924
    PENTAGON FEDERAL CREDIT UNION 11 5.80% $8,617
    Equity Prime Mortgage LLC 11 6.73% $6,044
    South State Bank 11 5.97% $10,213
    Renasant Bank 10 6.31% $8,927
    Plains Commerce Bank 10 6.14% $10,098
    Fifth Third Bank 10 6.54% $9,046
    Atlantic Coast Mortgage, LLC 10 6.68% $11,101
    NATION ONE MORTGAGE CORPORATION 9 7.57% $8,037
    NFM, INC. 9 6.42% $14,356
    PLAZA HOME MORTGAGE, INC. 8 6.09% $13,667
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 7.52% $9,247
    Alcova Mortgage LLC 8 7.22% $6,908
    First Heritage Mortgage, LLC 8 7.05% $10,960
    MID AMERICA MORTGAGE, INC. 7 7.05% $16,080
    LEGEND LENDING CORPORATION 7 6.93% $13,771
    CHURCHILL MORTGAGE CORPORATION 7 6.61% $13,186
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 5.89% $11,466
    PLANET HOME LENDING, LLC 6 6.00% $5,623
    VERITAS FUNDING, LLC 6 6.21% $21,966
    Strong Home Mortgage, LLC 6 5.50% $7,362
    SeaTrust Mortgage Company 6 6.35% $9,189
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 6 6.52% $4,610
    LAKEVIEW LOAN SERVICING, LLC 6 6.06% $12,512
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 7.13% $5,828
    EMBRACE HOME LOANS, INC. 5 6.05% $9,157
    RELIANCE FIRST CAPITAL, LLC 5 6.10% $16,241
    TBI MORTGAGE COMPANY 5 6.43% $7,315
    The Bank of South Carolina 5 5.98% $13,163
    EQUITY RESOURCES, INC. 5 6.30% $10,140
    First-Citizens Bank & Trust Company 5 5.93% $11,746
    First Federal Bank 5 6.18% $8,008
    BAY EQUITY LLC 5 6.33% $14,752
    Mid-Continent Funding, Inc. 5 6.79% $9,424
    PREMIA MORTGAGE, LLC 5 6.10% $3,587
    EMM LOANS LLC 4 5.44% $14,802
    MICHIGAN MUTUAL, INC. 4 5.28% $17,257
    Towne Bank 4 5.66% $8,780
    AMERISAVE MORTGAGE CORPORATION 4 5.31% $22,541
    TOWNE MORTGAGE COMPANY 4 6.16% $11,956
    DAS Acquisition Company, LLC 4 6.78% $9,113
    Armed Forces Bank 4 6.06% $10,558
    LOANPAL, LLC 4 6.00% $11,542
    GSF Mortgage Corporation 4 5.88% $12,890
    DELMAR FINANCIAL COMPANY 4 6.78% $12,426
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.34% $2,164
    INTERCOASTAL MORTGAGE COMPANY 3 6.92% $6,665
    Magnolia Bank 3 5.96% $21,886
    Citizens Bank 3 5.50% $8,181
    BNC National Bank 3 5.25% $10,992
    MORTGAGE ACCESS CORP. 3 6.17% $11,705
    AMERICAN FINANCIAL NETWORK, INC. 3 6.13% $6,357
    Barrington Bank & Trust Company, N.A. 3 6.42% $28,077
    United Bank 3 6.00% $11,130
    UNION HOME MORTGAGE CORP. 3 7.08% $13,253
    CONTOUR MORTGAGE CORPORATION 3 6.25% $13,224
    Paramount Residential Mortgage Group, Inc. 3 6.13% $10,606
    ServisFirst Bank 3 6.17% $8,643
    Regions Bank 3 6.38% $11,190
    TOP FLITE FINANCIAL, INC. 2 6.75% $15,847
    Mortgage Assurance Inc. 2 5.75% $8,418
    MILEND, INC. 2 6.63% $18,409
    GARDNER FINANCIAL SERVICES, LTD. 2 7.25% $17,261
    Century Mortgage Company DBA Century Lending Company 2 6.19% $5,393
    Northpointe Bank 2 5.69% $10,379
    NORWICH COMMERCIAL GROUP, INC. 2 6.69% $4,558
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.18% $6,035
    Old National Bank 2 5.75% $9,212
    American Security Mortgage Corp. 2 6.25% $20,711
    SHELTER LENDING SERVICES, L.L.C. 2 5.25% $4,197
    JPMorgan Chase Bank 2 5.88% $6,065
    PHH Mortgage Corporation 2 6.00% $9,684
    ROYAL UNITED MORTGAGE LLC 2 6.50% $13,864
    HOMESIDE FINANCIAL, LLC 2 6.44% $3,656
    RAPID MORTGAGE COMPANY 2 5.88% $20,929
    UNIVERSAL MORTGAGE & FINANCE, INC. 2 5.63% $19,547
    NATIONS DIRECT MORTGAGE, LLC 2 6.75% $13,270
    First Reliance Bank 2 6.25% $9,396
    Mortgage Lenders Investment Trading Corporation 2 7.25% $15,154
    Wyndham Capital Mortgage, Inc. 1 5.63% $5,479
    Allen Tate Mortgage Partners, LLC 1 5.50% $9,434
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $6,257
    AMERICAN FINANCING CORPORATION 1 6.13% $14,303
    American Mortgage & Equity Consultants, Inc. 1 6.75% $7,382
    Blue Ridge Bank 1 7.00% $11,956
    Capital Bank 1 7.25% $9,298
    CAPITAL CENTER, L.L.C. 1 6.25% $9,223
    Capital City Home Loans, LLC 1 5.75% $9,407
    Carrington Mortgage Services, LLC 1 6.13% $3,504
    CBM Mortgage, Inc. 1 5.63% $10,183
    Credence Funding Corporation 1 6.00% $6,821
    DIRECT MORTGAGE, CORP. 1 5.63% $21,563
    Encompass Lending Group, LP 1 6.75% $9,412
    FBC MORTGAGE, LLC 1 8.25% $14,406
    First Federal Bank of the Midwest 1 5.63% $10,941
    First National Bank of Pennsylvania 1 6.00% $17,069
    First Palmetto Bank 1 7.13% $2,597
    First Savings Bank 1 6.25% $3,537
    First Western Trust Bank 1 5.75% $9,745
    Flagstar Bank, FSB 1 6.62% $22,898
    HALLMARK HOME MORTGAGE, LLC 1 6.25% $9,869
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.49% $175
    HOMESTAR FINANCIAL CORPORATION 1 6.25% $5,408
    KeyBank 1 5.50% $6,820
    Lakeview Community Capital, LLC 1 5.75% $16,502
    Leader Bank 1 6.25% $4,196
    Meridian Bank Corporation 1 7.25% $6,095
    MORTGAGEONE, INC. 1 6.00% $11,097
    North American Savings Bank, F.S.B. 1 6.75% $1,980
    PLUS RELOCATION MORTGAGE, LLC 1 7.25% $8,416
    Presidential Bank, FSB 1 6.75% $3,108
    RADIUS FINANCIAL GROUP INC. 1 7.50% $6,905
    Residential Mortgage Solutions, Inc. 1 7.50% $10,180
    SIRVA MORTGAGE, INC. 1 5.63% $10,114
    Southern First Bank 1 6.25% $12,529
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.50% $18,695
    SUMMIT FUNDING, INC. 1 6.75% $17,389
    Sunflower Bank 1 6.63% $27,786
    SUN WEST MORTGAGE COMPANY, INC. 1 6.50% $3,835
    SWBC MORTGAGE CORPORATION 1 6.25% $3,748
    Synovus Bank 1 5.75% $9,046
    The Central Trust Bank 1 5.13% $10,912
    The Loan Store, Inc. 1 6.99% $4,059
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.25% $22,831
    TJC Mortgage, Inc. 1 5.75% $17,478
    TruHome Solutions, LLC 1 5.88% $5,407
    Union Savings Bank 1 5.25% $5,627
    United Community Bank 1 5.75% $675
    U.S. Bank 1 7.13% $0
    US MORTGAGE CORPORATION 1 7.25% $20,002
    ACADEMY MORTGAGE CORPORATION 1 7.63% $13,744

    The top Charleston VA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 342 VA loans originated. Their average total fees are $8,116, which is $503 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Charleston VA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,681), VANDERBILT MORTGAGE AND FINANCE, INC. ($5,982), Equity Prime Mortgage LLC ($6,044), CORNERSTONE HOME LENDING, INC. ($6,999) and PULTE MORTGAGE LLC ($7,144).

    The lowest rate Charleston VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.22%), VELOCIO MORTGAGE L.L.C. (5.54%), PENNYMAC LOAN SERVICES, LLC (5.54%), Wells Fargo Bank (5.65%) and EAGLE HOME MORTGAGE, LLC (5.71%).

    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.