Cullowhee VA Loan Rates, Closing Costs & Stats

Cullowhee, NC

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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.

    Cullowhee's 21 lenders originated 43 VA loans during 2022. The total origination value was $12,905,000, with an average VA loan value of $300,116.

    Cullowhee VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cullowhee averaged -0.56% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Cullowhee's average VA mortgage closing costs are $5,496.

    The average rate for the prior week (2023-11-17) was 6.58% and one month ago for the week of 2023-10-20, the average rate was 6.71%.

    The average rate one year ago was 6.03%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.63%.

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

    Cullowhee 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 Cullowhee level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 8 4.80% $5,418
    QUICKEN LOANS, LLC 4 4.47% $11,539
    The Federal Savings Bank 3 5.25% $12,584
    HOMESTAR FINANCIAL CORPORATION 2 5.63% $4,560
    PENNYMAC LOAN SERVICES, LLC 2 3.56% $6,929
    CARDINAL FINANCIAL 2 4.25% $17,330
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 5.69% $19,713
    FREEDOM MORTGAGE CORPORATION 2 3.31% $1,894
    South State Bank 1 4.50% $4,346
    TOP FLITE FINANCIAL, INC. 1 4.75% $24,597
    Truist 1 5.00% $17,285
    UNITED WHOLESALE MORTGAGE, LLC 1 3.00% $1,354
    AMERICAN FINANCING CORPORATION 1 2.50% $17,074
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.88% $0
    Barrington Bank & Trust Company, N.A. 1 3.25% $2,775
    First Internet Bank of Indiana 1 5.75% $3,164
    LOANDEPOT.COM, LLC 1 2.88% $16,433
    MOVEMENT MORTGAGE, LLC 1 5.75% $11,889
    Mr. Cooper ( Nationstar Mortgage ) 1 3.25% $572
    NAVY FEDERAL CREDIT UNION 1 4.50% $3,437
    NEW DAY FINANCIAL, LLC 1 3.49% $21,805

    The top Cullowhee VA lender as defined by loan originations is Mortgage Research Center, LLC, with 8 VA loans originated. Their average total fees are $5,418, which is $6,121 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cullowhee VA lenders (with over 10 loans originated) are .

    The lowest rate Cullowhee VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cullowhee (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 $349,900 (7.7%) $631,360 (9.0%) 0.00 818
    2018-02-01 $353,950 (7.4%) $639,199 (9.7%) 0.00 806
    2018-03-01 $359,000 (3.5%) $643,866 (8.4%) 0.00 812
    2018-04-01 $370,725 (5.9%) $639,951 (4.7%) 0.00 841
    2018-05-01 $378,500 (4.4%) $640,193 (1.9%) 0.00 879
    2018-06-01 $381,950 (2.9%) $647,865 (2.3%) 0.00 935
    2018-07-01 $379,450 (1.2%) $638,410 (0.6%) 0.00 973
    2018-08-01 $385,000 (2.1%) $648,481 (2.9%) 0.00 966
    2018-09-01 $379,900 (-0.5%) $653,651 (3.0%) 0.00 959
    2018-10-01 $379,450 (0.5%) $657,007 (3.5%) 0.00 956
    2018-11-01 $387,000 (3.2%) $660,543 (5.1%) 0.00 898
    2018-12-01 $398,250 (8.1%) $647,418 (2.3%) 0.00 849
    2019-01-01 $385,000 (10.0%) $649,705 (2.9%) 0.00 754
    2019-02-01 $385,000 (8.8%) $648,858 (1.5%) 0.00 754
    2019-03-01 $390,143 (8.7%) $659,852 (2.5%) 0.00 773
    2019-04-01 $398,000 (7.4%) $668,538 (4.5%) 0.00 803
    2019-05-01 $399,000 (5.4%) $662,424 (3.5%) 0.00 886
    2019-06-01 $399,000 (4.5%) $649,433 (0.2%) 0.00 921
    2019-07-01 $391,950 (3.3%) $636,339 (-0.3%) 0.00 917
    2019-08-01 $385,886 (0.2%) $638,418 (-1.6%) 0.00 904
    2019-09-01 $387,216 (1.9%) $638,879 (-2.3%) 0.00 882
    2019-10-01 $393,375 (3.7%) $642,482 (-2.2%) 0.00 865
    2019-11-01 $398,000 (2.8%) $656,699 (-0.6%) 0.00 798
    2019-12-01 $379,450 (-4.7%) $635,774 (-1.8%) 0.00 772
    2020-01-01 $374,000 (-2.9%) $613,242 (-5.6%) 0.00 706
    2020-02-01 $395,000 (2.6%) $641,038 (-1.2%) 0.00 626
    2020-03-01 $414,975 (6.4%) $663,172 (0.5%) 0.00 642
    2020-04-01 $419,000 (5.3%) $685,474 (2.5%) 0.00 657
    2020-05-01 $425,000 (6.5%) $700,745 (5.8%) 0.00 662
    2020-06-01 $442,000 (10.8%) $726,263 (11.8%) 0.00 635
    2020-07-01 $418,000 (6.7%) $748,259 (17.6%) 0.00 573
    2020-08-01 $425,000 (10.1%) $755,572 (18.4%) 0.00 487
    2020-09-01 $425,000 (9.8%) $748,551 (17.2%) 0.00 420
    2020-10-01 $459,000 (16.7%) $768,310 (19.6%) 0.00 409
    2020-11-01 $492,450 (23.7%) $818,296 (24.6%) 0.00 373
    2020-12-01 $536,500 (41.4%) $870,388 (36.9%) 0.00 343
    2021-01-01 $549,875 (47.0%) $885,596 (44.4%) 0.00 291
    2021-02-01 $497,850 (26.0%) $920,744 (43.6%) 0.00 259
    2021-03-01 $557,163 (34.3%) $953,965 (43.9%) 0.00 240
    2021-04-01 $557,000 (32.9%) $982,223 (43.3%) 0.00 239
    2021-05-01 $574,900 (35.3%) $991,045 (41.4%) 0.00 248
    2021-06-01 $574,175 (29.9%) $1,007,736 (38.8%) 0.00 280
    2021-07-01 $599,900 (43.5%) $1,023,047 (36.7%) 0.00 300
    2021-08-01 $575,000 (35.3%) $992,782 (31.4%) 0.00 294
    2021-09-01 $599,000 (40.9%) $1,025,658 (37.0%) 0.00 280
    2021-10-01 $625,000 (36.2%) $1,125,092 (46.4%) 0.00 256
    2021-11-01 $647,000 (31.4%) $1,123,348 (37.3%) 0.00 235
    2021-12-01 $658,500 (22.7%) $1,159,269 (33.2%) 0.00 212
    2022-01-01 $625,000 (13.7%) $1,208,470 (36.5%) 0.00 175
    2022-02-01 $674,900 (35.6%) $1,309,070 (42.2%) 0.00 166
    2022-03-01 $664,950 (19.4%) $1,248,861 (30.9%) 0.00 167
    2022-04-01 $649,900 (16.7%) $1,297,239 (32.1%) 0.00 186
    2022-05-01 $632,000 (9.9%) $1,246,366 (25.8%) 0.00 211
    2022-06-01 $649,950 (13.2%) $1,241,077 (23.2%) 0.00 265
    2022-07-01 $631,950 (5.3%) $1,247,479 (21.9%) 0.00 301
    2022-08-01 $625,975 (8.9%) $1,198,999 (20.8%) 0.00 312
    2022-09-01 $617,250 (3.1%) $1,111,791 (8.4%) 0.00 316
    2022-10-01 $609,000 (-2.6%) $1,089,535 (-3.2%) 0.00 334
    2022-11-01 $669,435 (3.5%) $1,180,551 (5.1%) 0.00 305
    2022-12-01 $692,250 (5.1%) $1,200,219 (3.5%) 0.00 273
    2023-01-01 $693,625 (11.0%) $1,187,524 (-1.7%) 0.00 229
    2023-02-01 $717,188 (6.3%) $1,195,383 (-8.7%) 0.00 219
    2023-03-01 $757,250 (13.9%) $1,242,741 (-0.5%) 0.00 213
    2023-04-01 $749,000 (15.3%) $1,289,803 (-0.6%) 0.00 236
    2023-05-01 $769,700 (21.8%) $1,354,551 (8.7%) 0.00 269
    2023-06-01 $794,850 (22.3%) $1,390,780 (12.1%) 0.00 305
    2023-07-01 $791,000 (25.2%) $1,421,099 (13.9%) 0.00 333
    2023-08-01 $783,000 (25.1%) $1,448,926 (20.8%) 0.00 326
    2023-09-01 $754,500 (22.2%) $1,385,886 (24.7%) 0.00 325
    2023-10-01 $749,500 (23.1%) $1,340,786 (23.1%) 0.00 347
    Cullowhee's median listing price for 2023-10-01 was $749,500, a difference of $140,500 (23.1%) versus the prior year and $-5,000 versus the prior month.

    Cullowhee's median listing price comes in at 0% of the national average.

    Cullowhee's average listing price for 2023-10-01 was $1,340,786, a difference of $251,251 (23.1%) versus the prior year and $-45,100 versus the prior month.

    For the 2023-10-01 period, Cullowhee had 347 MLS listings, a difference of 22 listings (7%) versus the prior month and 13 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cullowhee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,250 sqft
    2018-02-01 0 days 2,250 sqft
    2018-03-01 0 days 2,250 sqft
    2018-04-01 0 days 2,250 sqft
    2018-05-01 0 days 2,250 sqft
    2018-06-01 0 days 2,250 sqft
    2018-07-01 0 days 2,200 sqft
    2018-08-01 0 days 2,246 sqft
    2018-09-01 0 days 2,250 sqft
    2018-10-01 0 days 2,250 sqft
    2018-11-01 0 days 2,250 sqft
    2018-12-01 0 days 2,250 sqft
    2019-01-01 0 days 2,250 sqft
    2019-02-01 0 days 2,214 sqft
    2019-03-01 0 days 2,221 sqft
    2019-04-01 0 days 2,250 sqft
    2019-05-01 0 days 2,250 sqft
    2019-06-01 0 days 2,250 sqft
    2019-07-01 0 days 2,178 sqft
    2019-08-01 0 days 2,194 sqft
    2019-09-01 0 days 2,146 sqft
    2019-10-01 0 days 2,123 sqft
    2019-11-01 0 days 2,100 sqft
    2019-12-01 0 days 2,031 sqft
    2020-01-01 0 days 1,947 sqft
    2020-02-01 0 days 2,137 sqft
    2020-03-01 0 days 2,117 sqft
    2020-04-01 0 days 2,058 sqft
    2020-05-01 0 days 1,976 sqft
    2020-06-01 0 days 1,866 sqft
    2020-07-01 0 days 1,895 sqft
    2020-08-01 0 days 1,827 sqft
    2020-09-01 0 days 1,839 sqft
    2020-10-01 0 days 1,850 sqft
    2020-11-01 0 days 1,853 sqft
    2020-12-01 0 days 1,870 sqft
    2021-01-01 0 days 1,939 sqft
    2021-02-01 0 days 1,894 sqft
    2021-03-01 0 days 1,950 sqft
    2021-04-01 0 days 1,914 sqft
    2021-05-01 0 days 1,896 sqft
    2021-06-01 0 days 1,878 sqft
    2021-07-01 0 days 1,984 sqft
    2021-08-01 0 days 2,021 sqft
    2021-09-01 0 days 1,918 sqft
    2021-10-01 0 days 1,908 sqft
    2021-11-01 0 days 1,877 sqft
    2021-12-01 0 days 1,812 sqft
    2022-01-01 0 days 1,738 sqft
    2022-02-01 0 days 1,832 sqft
    2022-03-01 0 days 1,904 sqft
    2022-04-01 0 days 1,751 sqft
    2022-05-01 0 days 1,766 sqft
    2022-06-01 0 days 1,885 sqft
    2022-07-01 0 days 1,850 sqft
    2022-08-01 0 days 1,951 sqft
    2022-09-01 0 days 1,965 sqft
    2022-10-01 0 days 1,900 sqft
    2022-11-01 0 days 1,899 sqft
    2022-12-01 0 days 1,861 sqft
    2023-01-01 0 days 1,784 sqft
    2023-02-01 0 days 1,812 sqft
    2023-03-01 0 days 1,823 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,786 sqft
    2023-06-01 0 days 1,783 sqft
    2023-07-01 0 days 2,008 sqft
    2023-08-01 0 days 2,056 sqft
    2023-09-01 0 days 2,008 sqft
    2023-10-01 0 days 1,943 sqft
    Cullowhee's median listing age (time on market) for 2023-10-01 was 0 days.

    Cullowhee's median square footage for active listings during the 2023-10-01 period was 1,943 sqft. One year prior, the average listing was 1,900 sqft.

    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.