Charlotte VA Loans
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 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 270 lenders originated 10,884 VA loans during 2021. The total origination value was $3,274,530,000, with an average VA loan value of $300,857.
Charlotte VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Charlotte
averaged
5.67%
for the week of 2022-05-13, compared to the national average (all VA variants) of
5.158% for the same period.
The average rate for the prior week (2022-05-06) was
5.7% and
one month ago for the week of 2022-04-08, the
average rate was 4.82%.
The average rate one year ago was 3.24%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.18%.
Charlotte VA Loan Lenders by Rates & Fees
The below table looks at the average fees 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 QUICKEN LOANS, LLC, with
1,118 VA loans originated. Their average total fees are
$5,469, which is $2,047
higher than the next largest lender,
FREEDOM MORTGAGE CORPORATION.
The lowest fee Charlotte VA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($2,256), LAKEVIEW LOAN SERVICING, LLC ($2,397), BNC National Bank ($2,557), PENTAGON FEDERAL CREDIT UNION ($2,897) and Uwharrie Bank ($3,336).
The lowest rate Charlotte VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.28%), BNC National Bank (2.30%), NP, Inc. (2.33%), VILLAGE CAPITAL & INVESTMENT LLC (2.33%) and CLEARPATH LENDING (2.33%).
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 | $334,995 (9.1%) | $435,018 (8.4%) | 1.23 | 7,086 |
| 2018-02-01 | $335,000 (5.6%) | $439,756 (6.2%) | 1.21 | 7,101 |
| 2018-03-01 | $345,000 (5.0%) | $449,677 (4.9%) | 1.19 | 7,375 |
| 2018-04-01 | $350,000 (3.3%) | $460,762 (4.7%) | 1.17 | 7,670 |
| 2018-05-01 | $354,500 (2.8%) | $467,397 (3.6%) | 1.18 | 8,117 |
| 2018-06-01 | $353,900 (2.1%) | $464,835 (2.6%) | 1.18 | 8,565 |
| 2018-07-01 | $347,000 (1.5%) | $453,158 (1.0%) | 1.16 | 8,959 |
| 2018-08-01 | $340,000 (0.6%) | $445,389 (1.8%) | 1.14 | 9,185 |
| 2018-09-01 | $339,759 (1.4%) | $444,463 (1.8%) | 1.14 | 9,057 |
| 2018-10-01 | $332,962 (-0.9%) | $435,477 (-0.5%) | 1.11 | 9,253 |
| 2018-11-01 | $329,900 (0.0%) | $431,793 (-0.2%) | 1.11 | 9,061 |
| 2018-12-01 | $325,000 (-1.5%) | $428,175 (-0.4%) | 1.11 | 8,540 |
| 2019-01-01 | $325,000 (-3.0%) | $429,457 (-1.3%) | 1.12 | 8,029 |
| 2019-02-01 | $329,900 (-1.5%) | $439,863 (0.0%) | 1.11 | 7,999 |
| 2019-03-01 | $341,386 (-1.1%) | $465,785 (3.6%) | 1.11 | 8,053 |
| 2019-04-01 | $349,950 (0.0%) | $479,677 (4.1%) | 1.10 | 8,207 |
| 2019-05-01 | $357,058 (0.7%) | $480,080 (2.7%) | 1.10 | 8,408 |
| 2019-06-01 | $359,000 (1.4%) | $478,240 (2.9%) | 1.11 | 8,597 |
| 2019-07-01 | $349,950 (0.9%) | $459,323 (1.4%) | 1.09 | 8,582 |
| 2019-08-01 | $345,531 (1.6%) | $451,051 (1.3%) | 1.09 | 8,422 |
| 2019-09-01 | $339,900 (0.0%) | $464,941 (4.6%) | 1.08 | 8,233 |
| 2019-10-01 | $335,900 (0.9%) | $460,338 (5.7%) | 1.07 | 8,452 |
| 2019-11-01 | $335,000 (1.6%) | $439,094 (1.7%) | 1.08 | 7,897 |
| 2019-12-01 | $339,700 (4.5%) | $442,484 (3.3%) | 1.13 | 7,041 |
| 2020-01-01 | $339,200 (4.4%) | $447,774 (4.3%) | 1.13 | 6,371 |
| 2020-02-01 | $345,000 (4.6%) | $465,061 (5.7%) | 1.11 | 5,729 |
| 2020-03-01 | $352,930 (3.4%) | $482,844 (3.7%) | 1.10 | 5,924 |
| 2020-04-01 | $345,000 (-1.4%) | $462,585 (-3.6%) | 1.07 | 6,526 |
| 2020-05-01 | $355,000 (-0.6%) | $484,585 (0.9%) | 1.08 | 6,234 |
| 2020-06-01 | $369,955 (3.1%) | $512,270 (7.1%) | 1.08 | 5,263 |
| 2020-07-01 | $373,500 (6.7%) | $517,040 (12.6%) | 1.07 | 4,748 |
| 2020-08-01 | $375,000 (8.5%) | $520,259 (15.3%) | 1.07 | 4,517 |
| 2020-09-01 | $377,413 (11.0%) | $525,716 (13.1%) | 1.08 | 4,404 |
| 2020-10-01 | $374,653 (11.5%) | $522,120 (13.4%) | 1.07 | 4,313 |
| 2020-11-01 | $375,000 (11.9%) | $524,101 (19.4%) | 1.07 | 4,011 |
| 2020-12-01 | $374,320 (10.2%) | $516,003 (16.6%) | 1.10 | 3,487 |
| 2021-01-01 | $368,500 (8.6%) | $512,534 (14.5%) | 1.08 | 3,086 |
| 2021-02-01 | $364,315 (5.6%) | $514,795 (10.7%) | 1.05 | 2,582 |
| 2021-03-01 | $377,450 (7.0%) | $546,204 (13.1%) | 1.06 | 2,220 |
| 2021-04-01 | $389,000 (12.8%) | $558,932 (20.8%) | 1.05 | 2,147 |
| 2021-05-01 | $390,000 (9.9%) | $552,769 (14.1%) | 1.03 | 2,310 |
| 2021-06-01 | $389,693 (5.3%) | $546,560 (6.7%) | 1.01 | 2,642 |
| 2021-07-01 | $389,950 (4.4%) | $532,239 (2.9%) | 1.01 | 2,922 |
| 2021-08-01 | $385,450 (2.8%) | $516,459 (-0.7%) | 1.01 | 3,181 |
| 2021-09-01 | $390,923 (3.6%) | $525,209 (-0.1%) | 1.03 | 3,189 |
| 2021-10-01 | $399,900 (6.7%) | $528,042 (1.1%) | 1.05 | 3,108 |
| 2021-11-01 | $399,500 (6.5%) | $526,241 (0.4%) | 1.05 | 2,987 |
| 2021-12-01 | $395,000 (5.5%) | $525,691 (1.9%) | 1.05 | 2,542 |
| 2022-01-01 | $399,950 (8.5%) | $537,013 (4.8%) | 1.07 | 2,036 |
| 2022-02-01 | $399,089 (9.5%) | $550,494 (6.9%) | 1.02 | 1,728 |
| 2022-03-01 | $409,500 (8.5%) | $562,198 (2.9%) | 1.01 | 1,803 |
| 2022-04-01 | $419,000 (7.7%) | $584,282 (4.5%) | 0.99 | 2,054 |
Charlotte's median listing price comes in at 99% of the national average.
Charlotte's average listing price for 2022-04-01 was $584,282, a difference of $25,350 (4.5%) versus the prior year and $22,084 versus the prior month.
For the 2022-04-01 period, Charlotte had 2,054 MLS listings, a difference of 251 listings (14%) versus the prior month and -93 listings (-4%) 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 | 85 days | 2,556 sqft |
| 2018-02-01 | 74 days | 2,546 sqft |
| 2018-03-01 | 52 days | 2,618 sqft |
| 2018-04-01 | 50 days | 2,638 sqft |
| 2018-05-01 | 49 days | 2,653 sqft |
| 2018-06-01 | 50 days | 2,656 sqft |
| 2018-07-01 | 53 days | 2,613 sqft |
| 2018-08-01 | 54 days | 2,572 sqft |
| 2018-09-01 | 58 days | 2,540 sqft |
| 2018-10-01 | 63 days | 2,504 sqft |
| 2018-11-01 | 63 days | 2,470 sqft |
| 2018-12-01 | 70 days | 2,439 sqft |
| 2019-01-01 | 77 days | 2,417 sqft |
| 2019-02-01 | 70 days | 2,427 sqft |
| 2019-03-01 | 56 days | 2,483 sqft |
| 2019-04-01 | 51 days | 2,522 sqft |
| 2019-05-01 | 49 days | 2,563 sqft |
| 2019-06-01 | 50 days | 2,553 sqft |
| 2019-07-01 | 51 days | 2,488 sqft |
| 2019-08-01 | 52 days | 2,451 sqft |
| 2019-09-01 | 56 days | 2,425 sqft |
| 2019-10-01 | 57 days | 2,394 sqft |
| 2019-11-01 | 57 days | 2,382 sqft |
| 2019-12-01 | 67 days | 2,375 sqft |
| 2020-01-01 | 74 days | 2,359 sqft |
| 2020-02-01 | 64 days | 2,368 sqft |
| 2020-03-01 | 43 days | 2,418 sqft |
| 2020-04-01 | 43 days | 2,347 sqft |
| 2020-05-01 | 57 days | 2,413 sqft |
| 2020-06-01 | 53 days | 2,443 sqft |
| 2020-07-01 | 48 days | 2,436 sqft |
| 2020-08-01 | 42 days | 2,406 sqft |
| 2020-09-01 | 38 days | 2,376 sqft |
| 2020-10-01 | 41 days | 2,304 sqft |
| 2020-11-01 | 44 days | 2,246 sqft |
| 2020-12-01 | 51 days | 2,204 sqft |
| 2021-01-01 | 55 days | 2,200 sqft |
| 2021-02-01 | 35 days | 2,078 sqft |
| 2021-03-01 | 34 days | 2,095 sqft |
| 2021-04-01 | 32 days | 2,106 sqft |
| 2021-05-01 | 28 days | 2,134 sqft |
| 2021-06-01 | 27 days | 2,109 sqft |
| 2021-07-01 | 28 days | 2,076 sqft |
| 2021-08-01 | 28 days | 2,053 sqft |
| 2021-09-01 | 31 days | 2,073 sqft |
| 2021-10-01 | 32 days | 2,063 sqft |
| 2021-11-01 | 34 days | 2,049 sqft |
| 2021-12-01 | 40 days | 1,997 sqft |
| 2022-01-01 | 45 days | 2,010 sqft |
| 2022-02-01 | 31 days | 1,981 sqft |
| 2022-03-01 | 20 days | 1,985 sqft |
| 2022-04-01 | 20 days | 2,005 sqft |
Charlotte's median square footage for active listings during the 2022-04-01 period was 2,005 sqft. One year prior, the average listing was 2,106 sqft.
