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 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
0.41%
for the week of 2022-11-25, compared to the national average (all VA variants) of
0% for the same period.
Charlotte's average VA mortgage closing costs are $5,429.
The average rate for the prior week (2022-11-18) was
6.6% and
one month ago for the week of 2022-10-21, the
average rate was 7.05%.
The average rate one year ago was 3.43%.
For refis of the same type during the week of 2022-11-25, the average rate
was 0.12%.
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 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 MORTGAGE (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 | $336,848 (9.0%) | $436,307 (7.8%) | 1.25 | 6,879 |
| 2018-02-01 | $337,704 (6.4%) | $441,970 (6.1%) | 1.23 | 6,914 |
| 2018-03-01 | $347,999 (5.6%) | $451,460 (4.6%) | 1.22 | 7,213 |
| 2018-04-01 | $350,631 (3.4%) | $462,426 (4.3%) | 1.19 | 7,528 |
| 2018-05-01 | $354,007 (2.2%) | $467,681 (3.3%) | 1.18 | 7,967 |
| 2018-06-01 | $350,531 (0.9%) | $463,776 (1.8%) | 1.17 | 8,435 |
| 2018-07-01 | $346,973 (0.8%) | $453,001 (0.7%) | 1.16 | 8,777 |
| 2018-08-01 | $339,963 (0.3%) | $445,439 (1.2%) | 1.14 | 8,912 |
| 2018-09-01 | $339,669 (0.8%) | $443,106 (1.3%) | 1.14 | 8,971 |
| 2018-10-01 | $333,124 (-1.1%) | $435,739 (-0.6%) | 1.13 | 9,039 |
| 2018-11-01 | $329,950 (-0.3%) | $432,310 (-0.2%) | 1.12 | 8,860 |
| 2018-12-01 | $325,000 (-1.6%) | $428,279 (-0.5%) | 1.12 | 8,323 |
| 2019-01-01 | $325,000 (-3.5%) | $428,587 (-1.8%) | 1.12 | 7,901 |
| 2019-02-01 | $329,700 (-2.4%) | $439,376 (-0.6%) | 1.11 | 7,901 |
| 2019-03-01 | $341,329 (-1.9%) | $461,313 (2.2%) | 1.12 | 7,946 |
| 2019-04-01 | $349,950 (-0.2%) | $474,734 (2.7%) | 1.11 | 8,127 |
| 2019-05-01 | $355,500 (0.4%) | $477,907 (2.2%) | 1.11 | 8,368 |
| 2019-06-01 | $357,500 (2.0%) | $477,207 (2.9%) | 1.12 | 8,524 |
| 2019-07-01 | $349,889 (0.8%) | $457,312 (1.0%) | 1.10 | 8,540 |
| 2019-08-01 | $344,980 (1.5%) | $454,922 (2.1%) | 1.09 | 8,522 |
| 2019-09-01 | $339,366 (-0.1%) | $456,912 (3.1%) | 1.09 | 8,436 |
| 2019-10-01 | $335,624 (0.8%) | $449,360 (3.1%) | 1.08 | 8,342 |
| 2019-11-01 | $334,672 (1.4%) | $435,096 (0.6%) | 1.10 | 7,854 |
| 2019-12-01 | $335,650 (3.3%) | $436,543 (1.9%) | 1.12 | 7,036 |
| 2020-01-01 | $336,495 (3.5%) | $442,897 (3.3%) | 1.12 | 6,398 |
| 2020-02-01 | $340,682 (3.3%) | $459,957 (4.7%) | 1.11 | 5,785 |
| 2020-03-01 | $349,948 (2.5%) | $477,326 (3.5%) | 1.10 | 6,006 |
| 2020-04-01 | $340,000 (-2.8%) | $459,046 (-3.3%) | 1.06 | 6,539 |
| 2020-05-01 | $351,900 (-1.0%) | $483,971 (1.3%) | 1.07 | 6,300 |
| 2020-06-01 | $366,625 (2.6%) | $508,331 (6.5%) | 1.08 | 5,368 |
| 2020-07-01 | $369,250 (5.5%) | $512,469 (12.1%) | 1.07 | 4,764 |
| 2020-08-01 | $369,868 (7.2%) | $514,748 (13.2%) | 1.06 | 4,597 |
| 2020-09-01 | $372,727 (9.8%) | $519,032 (13.6%) | 1.07 | 4,480 |
| 2020-10-01 | $368,000 (9.7%) | $514,555 (14.5%) | 1.05 | 4,387 |
| 2020-11-01 | $374,187 (11.8%) | $517,684 (19.0%) | 1.09 | 4,095 |
| 2020-12-01 | $369,950 (10.2%) | $511,211 (17.1%) | 1.10 | 3,578 |
| 2021-01-01 | $365,000 (8.5%) | $507,341 (14.6%) | 1.09 | 3,088 |
| 2021-02-01 | $359,765 (5.6%) | $508,243 (10.5%) | 1.05 | 2,695 |
| 2021-03-01 | $372,755 (6.5%) | $541,722 (13.5%) | 1.06 | 2,372 |
| 2021-04-01 | $384,997 (13.2%) | $550,717 (20.0%) | 1.04 | 2,363 |
| 2021-05-01 | $385,000 (9.4%) | $546,773 (13.0%) | 1.02 | 2,510 |
| 2021-06-01 | $386,825 (5.5%) | $539,532 (6.1%) | 1.02 | 2,831 |
| 2021-07-01 | $385,000 (4.3%) | $526,328 (2.7%) | 1.01 | 3,108 |
| 2021-08-01 | $385,038 (4.1%) | $513,671 (-0.2%) | 1.03 | 3,310 |
| 2021-09-01 | $387,450 (4.0%) | $520,563 (0.3%) | 1.03 | 3,352 |
| 2021-10-01 | $395,000 (7.3%) | $522,150 (1.5%) | 1.05 | 3,304 |
| 2021-11-01 | $395,495 (5.7%) | $517,275 (-0.1%) | 1.06 | 3,122 |
| 2021-12-01 | $388,074 (4.9%) | $514,525 (0.7%) | 1.05 | 2,648 |
| 2022-01-01 | $394,990 (8.2%) | $523,782 (3.2%) | 1.07 | 2,205 |
| 2022-02-01 | $389,894 (8.4%) | $541,558 (6.6%) | 1.01 | 1,892 |
| 2022-03-01 | $399,950 (7.3%) | $552,364 (2.0%) | 1.00 | 1,987 |
| 2022-04-01 | $410,000 (6.5%) | $577,960 (5.0%) | 0.98 | 2,201 |
| 2022-05-01 | $430,000 (11.7%) | $593,374 (8.5%) | 0.98 | 2,940 |
| 2022-06-01 | $441,850 (14.2%) | $594,261 (10.1%) | 0.98 | 3,708 |
| 2022-07-01 | $429,900 (11.7%) | $576,005 (9.4%) | 0.97 | 5,025 |
| 2022-08-01 | $425,000 (10.4%) | $565,734 (10.1%) | 0.98 | 5,397 |
| 2022-09-01 | $419,950 (8.4%) | $566,239 (8.8%) | 0.98 | 5,439 |
| 2022-10-01 | $414,714 (5.0%) | $551,613 (5.6%) | 0.98 | 5,696 |
Charlotte's median listing price comes in at 98% of the national average.
Charlotte's average listing price for 2022-10-01 was $551,613, a difference of $29,463 (5.6%) versus the prior year and $-14,626 versus the prior month.
For the 2022-10-01 period, Charlotte had 5,696 MLS listings, a difference of 257 listings (5%) versus the prior month and 2,392 listings (72%) 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 | 2,578 sqft |
| 2018-02-01 | 73 days | 2,558 sqft |
| 2018-03-01 | 50 days | 2,622 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 | 2,500 sqft |
| 2018-11-01 | 63 days | 2,468 sqft |
| 2018-12-01 | 68 days | 2,432 sqft |
| 2019-01-01 | 74 days | 2,416 sqft |
| 2019-02-01 | 67 days | 2,425 sqft |
| 2019-03-01 | 58 days | 2,480 sqft |
| 2019-04-01 | 50 days | 2,519 sqft |
| 2019-05-01 | 49 days | 2,559 sqft |
| 2019-06-01 | 50 days | 2,548 sqft |
| 2019-07-01 | 51 days | 2,482 sqft |
| 2019-08-01 | 52 days | 2,435 sqft |
| 2019-09-01 | 54 days | 2,407 sqft |
| 2019-10-01 | 57 days | 2,387 sqft |
| 2019-11-01 | 58 days | 2,363 sqft |
| 2019-12-01 | 67 days | 2,361 sqft |
| 2020-01-01 | 73 days | 2,337 sqft |
| 2020-02-01 | 61 days | 2,357 sqft |
| 2020-03-01 | 41 days | 2,388 sqft |
| 2020-04-01 | 43 days | 2,329 sqft |
| 2020-05-01 | 56 days | 2,410 sqft |
| 2020-06-01 | 50 days | 2,438 sqft |
| 2020-07-01 | 45 days | 2,426 sqft |
| 2020-08-01 | 38 days | 2,388 sqft |
| 2020-09-01 | 36 days | 2,356 sqft |
| 2020-10-01 | 37 days | 2,283 sqft |
| 2020-11-01 | 44 days | 2,241 sqft |
| 2020-12-01 | 50 days | 2,201 sqft |
| 2021-01-01 | 52 days | 2,200 sqft |
| 2021-02-01 | 31 days | 2,073 sqft |
| 2021-03-01 | 31 days | 2,092 sqft |
| 2021-04-01 | 27 days | 2,108 sqft |
| 2021-05-01 | 23 days | 2,131 sqft |
| 2021-06-01 | 24 days | 2,099 sqft |
| 2021-07-01 | 26 days | 2,062 sqft |
| 2021-08-01 | 28 days | 2,059 sqft |
| 2021-09-01 | 29 days | 2,075 sqft |
| 2021-10-01 | 32 days | 2,063 sqft |
| 2021-11-01 | 34 days | 2,055 sqft |
| 2021-12-01 | 40 days | 1,999 sqft |
| 2022-01-01 | 41 days | 2,018 sqft |
| 2022-02-01 | 29 days | 1,979 sqft |
| 2022-03-01 | 19 days | 1,988 sqft |
| 2022-04-01 | 19 days | 2,006 sqft |
| 2022-05-01 | 21 days | 2,049 sqft |
| 2022-06-01 | 27 days | 2,110 sqft |
| 2022-07-01 | 31 days | 2,082 sqft |
| 2022-08-01 | 36 days | 2,083 sqft |
| 2022-09-01 | 43 days | 2,082 sqft |
| 2022-10-01 | 45 days | 2,050 sqft |
Charlotte's median square footage for active listings during the 2022-10-01 period was 2,050 sqft. One year prior, the average listing was 2,063 sqft.
