Charlotte VA Loan Rates, Closing Costs & Stats
CHARLOTTE-CONCORD-GASTONIA, NC-SC
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.
Charlotte's 224 lenders originated 4,931 VA loans during 2022. The total origination value was $1,800,425,000, with an average VA loan value of $365,124.
Charlotte VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Charlotte
averaged
5.95%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Charlotte's average VA mortgage closing costs are $6,028.
The average rate for the prior week (2023-05-19) was
5.68% and
one month ago for the week of 2023-04-21, the
average rate was 5.6%.
The average rate one year ago was 4.77%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.04%.
Charlotte 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 Charlotte level.
The top Charlotte VA lender as defined by loan originations is Mortgage Research Center, LLC, with
533 VA loans originated. Their average total fees are
$7,942, which is $3,915
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Charlotte VA lenders (with over 10 loans originated) are
Wells Fargo Bank ($4,030), DHI MORTGAGE COMPANY, LTD. ($4,796), GUARANTEED RATE, INC. ($5,149), PENTAGON FEDERAL CREDIT UNION ($5,520) and PULTE MORTGAGE LLC ($5,937).
The lowest rate Charlotte VA lenders (with over 10 loans originated) are
Strong Home Mortgage, LLC (3.35%), PENNYMAC LOAN SERVICES, LLC (3.56%), North American Savings Bank, F.S.B. (3.60%), PLANET HOME LENDING, LLC (3.64%) and Lakeview Community Capital, LLC (3.67%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Charlotte (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 | $337,402 (8.9%) | $436,702 (7.7%) | 1.25 | 6,863 |
| 2018-02-01 | $338,496 (6.5%) | $442,512 (6.0%) | 1.23 | 6,895 |
| 2018-03-01 | $349,000 (5.8%) | $452,013 (4.6%) | 1.22 | 7,194 |
| 2018-04-01 | $352,725 (3.8%) | $462,981 (4.3%) | 1.20 | 7,507 |
| 2018-05-01 | $354,581 (2.1%) | $468,150 (3.3%) | 1.18 | 7,951 |
| 2018-06-01 | $352,490 (1.2%) | $464,150 (1.7%) | 1.18 | 8,421 |
| 2018-07-01 | $347,000 (0.6%) | $453,300 (0.7%) | 1.16 | 8,766 |
| 2018-08-01 | $339,997 (0.2%) | $445,653 (1.1%) | 1.14 | 8,906 |
| 2018-09-01 | $339,900 (0.7%) | $443,305 (1.2%) | 1.14 | 8,965 |
| 2018-10-01 | $333,600 (-1.3%) | $435,917 (-0.7%) | 1.13 | 9,032 |
| 2018-11-01 | $329,950 (-0.9%) | $432,475 (-0.3%) | 1.12 | 8,853 |
| 2018-12-01 | $325,000 (-2.0%) | $428,455 (-0.6%) | 1.12 | 8,316 |
| 2019-01-01 | $325,000 (-3.7%) | $428,858 (-1.8%) | 1.12 | 7,890 |
| 2019-02-01 | $329,862 (-2.6%) | $439,617 (-0.7%) | 1.11 | 7,891 |
| 2019-03-01 | $340,000 (-2.6%) | $458,429 (1.4%) | 1.13 | 7,943 |
| 2019-04-01 | $349,950 (-0.8%) | $473,629 (2.3%) | 1.11 | 8,101 |
| 2019-05-01 | $355,750 (0.3%) | $478,323 (2.2%) | 1.11 | 8,342 |
| 2019-06-01 | $358,250 (1.6%) | $477,698 (2.9%) | 1.12 | 8,496 |
| 2019-07-01 | $349,938 (0.9%) | $457,648 (1.0%) | 1.10 | 8,510 |
| 2019-08-01 | $349,999 (2.9%) | $463,454 (4.0%) | 1.10 | 8,488 |
| 2019-09-01 | $349,995 (3.0%) | $476,498 (7.5%) | 1.10 | 7,481 |
| 2019-10-01 | $336,000 (0.7%) | $449,932 (3.2%) | 1.08 | 8,311 |
| 2019-11-01 | $334,750 (1.5%) | $435,472 (0.7%) | 1.10 | 7,819 |
| 2019-12-01 | $335,950 (3.4%) | $436,906 (2.0%) | 1.12 | 7,001 |
| 2020-01-01 | $336,685 (3.6%) | $443,376 (3.4%) | 1.13 | 6,365 |
| 2020-02-01 | $340,950 (3.4%) | $460,403 (4.7%) | 1.12 | 5,751 |
| 2020-03-01 | $349,950 (2.9%) | $477,904 (4.3%) | 1.10 | 5,974 |
| 2020-04-01 | $340,320 (-2.8%) | $459,641 (-3.0%) | 1.07 | 6,501 |
| 2020-05-01 | $352,578 (-0.9%) | $484,575 (1.3%) | 1.07 | 6,267 |
| 2020-06-01 | $367,327 (2.5%) | $509,056 (6.6%) | 1.08 | 5,336 |
| 2020-07-01 | $369,450 (5.6%) | $513,038 (12.1%) | 1.07 | 4,736 |
| 2020-08-01 | $369,900 (5.7%) | $515,844 (11.3%) | 1.06 | 4,559 |
| 2020-09-01 | $373,795 (6.8%) | $520,579 (9.3%) | 1.07 | 4,441 |
| 2020-10-01 | $368,950 (9.8%) | $516,057 (14.7%) | 1.06 | 4,335 |
| 2020-11-01 | $374,950 (12.0%) | $519,927 (19.4%) | 1.10 | 4,044 |
| 2020-12-01 | $372,123 (10.8%) | $513,433 (17.5%) | 1.11 | 3,533 |
| 2021-01-01 | $367,520 (9.2%) | $509,906 (15.0%) | 1.10 | 3,036 |
| 2021-02-01 | $362,450 (6.3%) | $511,301 (11.1%) | 1.05 | 2,641 |
| 2021-03-01 | $374,676 (7.1%) | $545,186 (14.1%) | 1.06 | 2,331 |
| 2021-04-01 | $385,000 (13.1%) | $553,507 (20.4%) | 1.04 | 2,319 |
| 2021-05-01 | $389,000 (10.3%) | $550,153 (13.5%) | 1.03 | 2,462 |
| 2021-06-01 | $388,790 (5.8%) | $541,566 (6.4%) | 1.02 | 2,788 |
| 2021-07-01 | $385,983 (4.5%) | $527,577 (2.8%) | 1.02 | 3,072 |
| 2021-08-01 | $387,000 (4.6%) | $516,326 (0.1%) | 1.03 | 3,258 |
| 2021-09-01 | $388,425 (3.9%) | $522,995 (0.5%) | 1.04 | 3,293 |
| 2021-10-01 | $398,000 (7.9%) | $524,337 (1.6%) | 1.06 | 3,245 |
| 2021-11-01 | $399,000 (6.4%) | $520,370 (0.1%) | 1.07 | 3,063 |
| 2021-12-01 | $389,945 (4.8%) | $517,287 (0.8%) | 1.06 | 2,593 |
| 2022-01-01 | $395,000 (7.5%) | $525,389 (3.0%) | 1.07 | 2,145 |
| 2022-02-01 | $389,950 (7.6%) | $544,796 (6.6%) | 1.01 | 1,846 |
| 2022-03-01 | $399,997 (6.8%) | $555,139 (1.8%) | 1.00 | 1,947 |
| 2022-04-01 | $412,945 (7.3%) | $579,860 (4.8%) | 0.98 | 2,165 |
| 2022-05-01 | $429,975 (10.5%) | $593,878 (8.0%) | 0.98 | 2,935 |
| 2022-06-01 | $441,008 (13.4%) | $594,107 (9.7%) | 0.98 | 3,705 |
| 2022-07-01 | $429,900 (11.4%) | $575,699 (9.1%) | 0.97 | 5,038 |
| 2022-08-01 | $425,000 (9.8%) | $565,246 (9.5%) | 0.98 | 5,409 |
| 2022-09-01 | $419,950 (8.1%) | $565,558 (8.1%) | 0.98 | 5,464 |
| 2022-10-01 | $411,933 (3.5%) | $550,440 (5.0%) | 0.97 | 5,736 |
| 2022-11-01 | $400,000 (0.3%) | $538,850 (3.6%) | 0.96 | 5,972 |
| 2022-12-01 | $395,000 (1.3%) | $527,085 (1.9%) | 0.98 | 5,459 |
| 2023-01-01 | $394,900 (0.0%) | $528,246 (0.5%) | 0.98 | 4,929 |
| 2023-02-01 | $397,425 (1.9%) | $541,566 (-0.6%) | 0.96 | 4,367 |
| 2023-03-01 | $400,808 (0.2%) | $556,746 (0.3%) | 0.94 | 4,089 |
| 2023-04-01 | $425,000 (2.9%) | $590,902 (1.9%) | 0.99 | 4,012 |
Charlotte's median listing price comes in at 99% of the national average.
Charlotte's average listing price for 2023-04-01 was $590,902, a difference of $11,042 (1.9%) versus the prior year and $34,156 versus the prior month.
For the 2023-04-01 period, Charlotte had 4,012 MLS listings, a difference of -77 listings (-2%) versus the prior month and 1,847 listings (85%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Charlotte (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 84 days | 2,573 sqft |
| 2018-02-01 | 73 days | 2,556 sqft |
| 2018-03-01 | 50 days | 2,621 sqft |
| 2018-04-01 | 48 days | 2,639 sqft |
| 2018-05-01 | 47 days | 2,650 sqft |
| 2018-06-01 | 49 days | 2,650 sqft |
| 2018-07-01 | 52 days | 2,601 sqft |
| 2018-08-01 | 53 days | 2,560 sqft |
| 2018-09-01 | 58 days | 2,540 sqft |
| 2018-10-01 | 61 days | 2,499 sqft |
| 2018-11-01 | 63 days | 2,467 sqft |
| 2018-12-01 | 68 days | 2,432 sqft |
| 2019-01-01 | 74 days | 2,416 sqft |
| 2019-02-01 | 67 days | 2,423 sqft |
| 2019-03-01 | 53 days | 2,465 sqft |
| 2019-04-01 | 50 days | 2,519 sqft |
| 2019-05-01 | 49 days | 2,557 sqft |
| 2019-06-01 | 50 days | 2,546 sqft |
| 2019-07-01 | 51 days | 2,481 sqft |
| 2019-08-01 | 61 days | 2,495 sqft |
| 2019-09-01 | 65 days | 2,507 sqft |
| 2019-10-01 | 57 days | 2,386 sqft |
| 2019-11-01 | 58 days | 2,362 sqft |
| 2019-12-01 | 67 days | 2,359 sqft |
| 2020-01-01 | 73 days | 2,334 sqft |
| 2020-02-01 | 61 days | 2,356 sqft |
| 2020-03-01 | 41 days | 2,388 sqft |
| 2020-04-01 | 43 days | 2,328 sqft |
| 2020-05-01 | 55 days | 2,410 sqft |
| 2020-06-01 | 50 days | 2,437 sqft |
| 2020-07-01 | 44 days | 2,425 sqft |
| 2020-08-01 | 38 days | 2,385 sqft |
| 2020-09-01 | 36 days | 2,356 sqft |
| 2020-10-01 | 37 days | 2,278 sqft |
| 2020-11-01 | 44 days | 2,236 sqft |
| 2020-12-01 | 49 days | 2,195 sqft |
| 2021-01-01 | 51 days | 2,192 sqft |
| 2021-02-01 | 31 days | 2,059 sqft |
| 2021-03-01 | 30 days | 2,079 sqft |
| 2021-04-01 | 27 days | 2,098 sqft |
| 2021-05-01 | 23 days | 2,111 sqft |
| 2021-06-01 | 23 days | 2,090 sqft |
| 2021-07-01 | 25 days | 2,058 sqft |
| 2021-08-01 | 26 days | 2,049 sqft |
| 2021-09-01 | 29 days | 2,066 sqft |
| 2021-10-01 | 31 days | 2,058 sqft |
| 2021-11-01 | 33 days | 2,045 sqft |
| 2021-12-01 | 39 days | 1,992 sqft |
| 2022-01-01 | 40 days | 1,997 sqft |
| 2022-02-01 | 28 days | 1,965 sqft |
| 2022-03-01 | 18 days | 1,982 sqft |
| 2022-04-01 | 18 days | 2,002 sqft |
| 2022-05-01 | 20 days | 2,050 sqft |
| 2022-06-01 | 27 days | 2,107 sqft |
| 2022-07-01 | 30 days | 2,088 sqft |
| 2022-08-01 | 36 days | 2,084 sqft |
| 2022-09-01 | 43 days | 2,085 sqft |
| 2022-10-01 | 44 days | 2,057 sqft |
| 2022-11-01 | 48 days | 2,021 sqft |
| 2022-12-01 | 59 days | 1,964 sqft |
| 2023-01-01 | 68 days | 1,941 sqft |
| 2023-02-01 | 57 days | 1,951 sqft |
| 2023-03-01 | 43 days | 1,970 sqft |
| 2023-04-01 | 40 days | 2,015 sqft |
Charlotte's median square footage for active listings during the 2023-04-01 period was 2,015 sqft. One year prior, the average listing was 2,002 sqft.