Cullowhee VA Loan Rates, Closing Costs & Stats

Cullowhee, NC

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.