Elizabeth City VA Loan Rates, Closing Costs & Stats

Elizabeth City, 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.

    Elizabeth City's 84 lenders originated 397 VA loans during 2022. The total origination value was $111,895,000, with an average VA loan value of $281,851.

    Elizabeth City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Elizabeth City averaged 6.31% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

    Elizabeth City's average VA mortgage closing costs are $5,658.

    The average rate for the prior week (2023-09-15) was 6.49% and one month ago for the week of 2023-08-18, the average rate was 6.47%.

    The average rate one year ago was 5.34%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.75%.

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

    Elizabeth City 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 Elizabeth City level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 67 5.08% $7,694
    NAVY FEDERAL CREDIT UNION 39 3.79% $7,305
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 25 4.99% $10,890
    QUICKEN LOANS, LLC 20 4.28% $10,839
    FREEDOM MORTGAGE CORPORATION 17 4.66% $6,940
    CALIBER HOME LOANS, INC. 16 4.91% $7,506
    NVR Mortgage Finance, Inc. 14 4.49% $10,136
    CBM Mortgage, Inc. 10 4.88% $9,609
    PENNYMAC LOAN SERVICES, LLC 9 3.64% $13,049
    SOUTHERN TRUST MORTGAGE, LLC 8 4.34% $7,505
    USAA Federal Savings Bank 8 3.89% $5,945
    Advance Financial Group, LLC 8 4.25% $8,659
    CORNERSTONE HOME LENDING, INC. 8 5.01% $11,773
    UNITED WHOLESALE MORTGAGE, LLC 7 4.84% $8,808
    NEW DAY FINANCIAL, LLC 7 5.43% $15,266
    West Town Bank & Trust 6 4.58% $12,015
    OVM FINANCIAL, INC. 6 4.75% $6,790
    Atlantic Coast Mortgage, LLC 5 5.33% $11,587
    George Mason Mortgage, LLC 5 5.15% $9,409
    HOMESIDE FINANCIAL, LLC 4 4.84% $8,009
    MOVEMENT MORTGAGE, LLC 4 5.31% $8,524
    Alcova Mortgage LLC 3 5.46% $8,020
    GUARANTEED RATE, INC. 3 4.40% $8,813
    Towne Bank 3 5.00% $12,996
    LOANDEPOT.COM, LLC 3 4.00% $7,155
    C & F Mortgage Corporation 3 5.33% $11,038
    Blue Ridge Bank 2 4.25% $4,492
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.19% $7,409
    CARDINAL FINANCIAL 2 4.50% $16,159
    Equity Prime Mortgage LLC 2 6.25% $12,548
    GoPrime Mortgage, Inc. 2 3.19% $6,715
    LAKEVIEW LOAN SERVICING, LLC 2 5.00% $12,451
    Mr. Cooper ( Nationstar Mortgage ) 2 4.13% $4,607
    NEWREZ LLC 2 3.75% $11,412
    NewTowne Mortgage, LLC 2 4.81% $8,308
    Prosperity Home Mortgage, LLC 2 5.12% $9,705
    Sierra Pacific Mortgage Company, Inc. 2 6.69% $4,941
    Southern Bank and Trust Company 2 5.44% $1,760
    UNION HOME MORTGAGE CORP. 2 5.44% $3,852
    ISERVE RESIDENTIAL LENDING, LLC 1 5.75% $14,912
    KeyBank 1 4.38% $9,413
    Truist 1 4.50% $8,667
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $6,531
    Loan Simple, Inc. 1 5.13% $3,802
    Low VA Rates, LLC 1 5.75% $7,985
    Magnolia Bank 1 4.25% $16,130
    MCLEAN MORTGAGE CORPORATION 1 4.75% $8,952
    Mid-Continent Funding, Inc. 1 5.50% $9,689
    DATA MORTGAGE, INC. 1 4.75% $14,149
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.75% $10,590
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $8,271
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.25% $8,076
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $6,524
    Nations Lending Corporation 1 3.25% $9,974
    CONTOUR MORTGAGE CORPORATION 1 2.75% $7,512
    NBKC BANK 1 4.25% $2,780
    CMG MORTGAGE, INC. 1 5.75% $7,918
    United Community Bank 1 6.50% $10,127
    Ameris Bank 1 4.50% $3,130
    NP, Inc. 1 2.25% $3,354
    CLEARPATH LENDING 1 3.13% $7,209
    Carrington Mortgage Services, LLC 1 5.63% $12,325
    CAPITAL CENTER, L.L.C. 1 2.50% $410
    PENTAGON FEDERAL CREDIT UNION 1 4.75% $2,091
    Plains Commerce Bank 1 3.25% $3,693
    PLANET HOME LENDING, LLC 1 5.63% $8,561
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.13% $9,734
    AMERISAVE MORTGAGE CORPORATION 1 5.13% $9,237
    BNC National Bank 1 2.25% $9,892
    VAN DYK MORTGAGE CORPORATION 1 5.88% $10,320
    Wells Fargo Bank 1 3.63% $16,461
    Bank of England 1 6.25% $12,351
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.75% $20,374
    The Federal Savings Bank 1 5.13% $11,146
    Tidewater Home Funding, LLC 1 4.75% $28,036
    Flagstar Bank, FSB 1 4.25% $10,045
    FIRST HOME MORTGAGE CORPORATION 1 4.75% $2,337
    First Bank 1 3.13% $3,052
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.88% $15,377
    EMM LOANS LLC 1 7.13% $7,542
    GUILD MORTGAGE COMPANY 1 3.88% $1,946
    EMBRACE HOME LOANS, INC. 1 4.75% $10,699
    HOMESPIRE MORTGAGE CORPORATION 1 4.75% $4,494
    Hometown Lenders, Inc. 1 5.75% $4,937

    The top Elizabeth City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 67 VA loans originated. Their average total fees are $7,694, which is $389 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Elizabeth City VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($6,940), NAVY FEDERAL CREDIT UNION ($7,305), CALIBER HOME LOANS, INC. ($7,506), Mortgage Research Center, LLC ($7,694) and CBM Mortgage, Inc. ($9,609).

    The lowest rate Elizabeth City VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.79%), QUICKEN LOANS, LLC (4.28%), NVR Mortgage Finance, Inc. (4.49%), FREEDOM MORTGAGE CORPORATION (4.66%) and CBM Mortgage, Inc. (4.88%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elizabeth City (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 $204,500 (4.1%) $228,508 (-3.3%) 0.00 344
    2018-02-01 $212,600 (4.4%) $234,845 (-0.1%) 0.00 373
    2018-03-01 $219,000 (5.7%) $240,952 (1.5%) 0.00 371
    2018-04-01 $219,900 (5.2%) $243,140 (3.2%) 0.00 361
    2018-05-01 $224,450 (3.1%) $249,190 (3.1%) 0.00 363
    2018-06-01 $217,000 (1.2%) $250,036 (4.8%) 0.00 372
    2018-07-01 $218,000 (1.4%) $249,804 (5.4%) 0.00 398
    2018-08-01 $215,000 (-1.0%) $247,838 (1.4%) 0.00 401
    2018-09-01 $209,900 (-5.8%) $238,752 (-5.2%) 0.00 399
    2018-10-01 $213,475 (-4.8%) $240,508 (-5.1%) 0.00 389
    2018-11-01 $200,813 (-7.2%) $238,030 (-2.4%) 0.00 364
    2018-12-01 $199,900 (-4.8%) $232,536 (-0.6%) 0.00 342
    2019-01-01 $199,900 (-2.3%) $234,268 (2.5%) 0.00 327
    2019-02-01 $213,875 (0.6%) $243,389 (3.6%) 0.00 332
    2019-03-01 $221,214 (1.0%) $251,109 (4.2%) 0.00 348
    2019-04-01 $229,000 (4.1%) $258,500 (6.3%) 0.00 365
    2019-05-01 $229,000 (2.0%) $261,418 (4.9%) 0.00 376
    2019-06-01 $229,700 (5.9%) $264,981 (6.0%) 0.00 356
    2019-07-01 $232,750 (6.8%) $271,348 (8.6%) 0.00 352
    2019-08-01 $236,350 (9.9%) $272,557 (10.0%) 0.00 351
    2019-09-01 $238,375 (13.6%) $271,690 (13.8%) 0.00 347
    2019-10-01 $242,450 (13.6%) $271,428 (12.9%) 0.00 344
    2019-11-01 $235,000 (17.0%) $260,868 (9.6%) 0.00 321
    2019-12-01 $231,875 (16.0%) $258,512 (11.2%) 0.00 298
    2020-01-01 $230,950 (15.5%) $255,150 (8.9%) 0.00 269
    2020-02-01 $242,850 (13.6%) $259,997 (6.8%) 0.00 270
    2020-03-01 $240,743 (8.8%) $260,559 (3.8%) 0.00 266
    2020-04-01 $239,900 (4.8%) $260,013 (0.6%) 0.00 273
    2020-05-01 $245,900 (7.4%) $269,763 (3.2%) 0.00 251
    2020-06-01 $244,475 (6.4%) $279,897 (5.6%) 0.00 223
    2020-07-01 $250,850 (7.8%) $282,208 (4.0%) 0.00 203
    2020-08-01 $265,000 (12.1%) $295,306 (8.4%) 0.00 176
    2020-09-01 $267,000 (12.0%) $296,388 (9.1%) 0.00 147
    2020-10-01 $257,000 (6.0%) $299,125 (10.2%) 0.00 133
    2020-11-01 $266,225 (13.3%) $301,479 (15.6%) 0.00 114
    2020-12-01 $251,950 (8.7%) $276,283 (6.9%) 0.00 114
    2021-01-01 $257,000 (11.3%) $289,146 (13.3%) 0.00 102
    2021-02-01 $251,075 (3.4%) $294,556 (13.3%) 0.00 98
    2021-03-01 $259,000 (7.6%) $303,667 (16.5%) 0.00 88
    2021-04-01 $274,500 (14.4%) $314,181 (20.8%) 0.00 80
    2021-05-01 $249,900 (1.6%) $314,257 (16.5%) 0.00 84
    2021-06-01 $251,975 (3.1%) $314,632 (12.4%) 0.00 94
    2021-07-01 $257,000 (2.5%) $320,836 (13.7%) 0.00 112
    2021-08-01 $250,950 (-5.3%) $334,436 (13.3%) 0.00 119
    2021-09-01 $274,975 (3.0%) $344,834 (16.4%) 0.00 124
    2021-10-01 $299,000 (16.3%) $344,868 (15.3%) 0.00 114
    2021-11-01 $305,250 (14.7%) $350,436 (16.2%) 0.00 107
    2021-12-01 $287,475 (14.1%) $326,299 (18.1%) 0.00 97
    2022-01-01 $297,995 (16.0%) $327,617 (13.3%) 0.00 107
    2022-02-01 $299,923 (19.5%) $347,968 (18.1%) 0.00 106
    2022-03-01 $304,945 (17.7%) $326,140 (7.4%) 0.00 111
    2022-04-01 $319,900 (16.5%) $318,124 (1.3%) 0.00 114
    2022-05-01 $317,725 (27.1%) $328,189 (4.4%) 0.00 112
    2022-06-01 $339,995 (34.9%) $351,495 (11.7%) 0.00 127
    2022-07-01 $325,500 (26.7%) $353,965 (10.3%) 0.00 166
    2022-08-01 $160,975 (-35.9%) $232,668 (-30.4%) 0.00 324
    2022-09-01 $254,925 (-7.3%) $269,256 (-21.9%) 0.00 246
    2022-10-01 $334,495 (11.9%) $337,987 (-2.0%) 0.00 155
    2022-11-01 $328,950 (7.8%) $335,387 (-4.3%) 0.00 153
    2022-12-01 $349,000 (21.4%) $338,114 (3.6%) 0.00 125
    2023-01-01 $349,923 (17.4%) $340,586 (4.0%) 0.00 106
    2023-02-01 $343,720 (14.6%) $339,481 (-2.4%) 0.00 101
    2023-03-01 $329,990 (8.2%) $327,935 (0.6%) 0.00 105
    2023-04-01 $351,900 (10.0%) $353,077 (11.0%) 0.00 112
    2023-05-01 $362,445 (14.1%) $366,397 (11.6%) 0.00 140
    2023-06-01 $359,945 (5.9%) $374,788 (6.6%) 0.00 155
    2023-07-01 $359,900 (10.6%) $396,502 (12.0%) 0.00 151
    2023-08-01 $348,425 (116.5%) $393,114 (69.0%) 0.00 162
    Elizabeth City's median listing price for 2023-08-01 was $348,425, a difference of $187,450 (116.5%) versus the prior year and $-11,475 versus the prior month.

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

    Elizabeth City's average listing price for 2023-08-01 was $393,114, a difference of $160,446 (69.0%) versus the prior year and $-3,388 versus the prior month.

    For the 2023-08-01 period, Elizabeth City had 162 MLS listings, a difference of 11 listings (7%) versus the prior month and -162 listings (-50%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elizabeth City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,162 sqft
    2018-02-01 0 days 2,156 sqft
    2018-03-01 0 days 2,200 sqft
    2018-04-01 0 days 2,191 sqft
    2018-05-01 0 days 2,241 sqft
    2018-06-01 0 days 2,200 sqft
    2018-07-01 0 days 2,197 sqft
    2018-08-01 0 days 2,238 sqft
    2018-09-01 0 days 2,195 sqft
    2018-10-01 0 days 2,202 sqft
    2018-11-01 0 days 2,167 sqft
    2018-12-01 0 days 2,148 sqft
    2019-01-01 0 days 2,165 sqft
    2019-02-01 0 days 2,167 sqft
    2019-03-01 0 days 2,158 sqft
    2019-04-01 0 days 2,129 sqft
    2019-05-01 0 days 2,115 sqft
    2019-06-01 0 days 2,140 sqft
    2019-07-01 0 days 2,160 sqft
    2019-08-01 0 days 2,155 sqft
    2019-09-01 0 days 2,135 sqft
    2019-10-01 0 days 2,137 sqft
    2019-11-01 0 days 2,150 sqft
    2019-12-01 0 days 2,179 sqft
    2020-01-01 0 days 2,168 sqft
    2020-02-01 0 days 2,153 sqft
    2020-03-01 0 days 2,157 sqft
    2020-04-01 0 days 2,155 sqft
    2020-05-01 0 days 2,270 sqft
    2020-06-01 0 days 2,387 sqft
    2020-07-01 0 days 2,284 sqft
    2020-08-01 0 days 2,288 sqft
    2020-09-01 0 days 2,272 sqft
    2020-10-01 0 days 2,170 sqft
    2020-11-01 0 days 2,160 sqft
    2020-12-01 0 days 2,150 sqft
    2021-01-01 0 days 2,326 sqft
    2021-02-01 0 days 2,372 sqft
    2021-03-01 0 days 2,219 sqft
    2021-04-01 0 days 2,266 sqft
    2021-05-01 0 days 1,902 sqft
    2021-06-01 0 days 1,850 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 2,042 sqft
    2021-09-01 0 days 2,168 sqft
    2021-10-01 0 days 2,196 sqft
    2021-11-01 0 days 2,159 sqft
    2021-12-01 0 days 2,188 sqft
    2022-01-01 0 days 2,046 sqft
    2022-02-01 0 days 2,058 sqft
    2022-03-01 0 days 2,072 sqft
    2022-04-01 0 days 2,114 sqft
    2022-05-01 0 days 2,058 sqft
    2022-06-01 0 days 2,076 sqft
    2022-07-01 0 days 2,128 sqft
    2022-08-01 0 days 2,132 sqft
    2022-09-01 0 days 2,096 sqft
    2022-10-01 0 days 2,019 sqft
    2022-11-01 0 days 1,930 sqft
    2022-12-01 0 days 1,989 sqft
    2023-01-01 0 days 2,031 sqft
    2023-02-01 0 days 2,003 sqft
    2023-03-01 0 days 1,944 sqft
    2023-04-01 0 days 2,000 sqft
    2023-05-01 0 days 2,115 sqft
    2023-06-01 0 days 2,132 sqft
    2023-07-01 0 days 2,150 sqft
    2023-08-01 0 days 2,022 sqft
    Elizabeth City's median listing age (time on market) for 2023-08-01 was 0 days.

    Elizabeth City's median square footage for active listings during the 2023-08-01 period was 2,022 sqft. One year prior, the average listing was 2,132 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.