Elizabeth City VA Loan Rates, Closing Costs & Stats

Elizabeth City, 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.

Elizabeth City's 56 lenders originated 280 VA loans during 2023. The total origination value was $85,850,000, with an average VA loan value of $306,607.

Elizabeth City VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Elizabeth City averaged 6.62% for the week of 2024-06-14, compared to the national average (all VA variants) of 6.423% for the same period.

Elizabeth City's average VA mortgage closing costs are $5,960.

The average rate for the prior week (2024-06-07) was 6.59% and one month ago for the week of 2024-05-10, the average rate was 6.5%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.32%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 50 6.82% $4,684
NAVY FEDERAL CREDIT UNION 22 5.71% $6,088
NVR Mortgage Finance, Inc. 22 5.66% $5,528
UNITED WHOLESALE MORTGAGE, LLC 17 6.07% $7,991
CORNERSTONE HOME LENDING, INC. 11 6.15% $6,569
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 6.56% $8,851
QUICKEN LOANS, LLC 10 6.21% $13,049
LOANDEPOT.COM, LLC 7 6.34% $7,986
MOVEMENT MORTGAGE, LLC 7 6.16% $9,069
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.14% $17,320
George Mason Mortgage, LLC 7 6.41% $9,389
NEW DAY FINANCIAL, LLC 7 7.80% $15,006
PENNYMAC LOAN SERVICES, LLC 5 5.28% $6,764
GUARANTEED RATE, INC. 5 6.32% $7,113
FREEDOM MORTGAGE CORPORATION 5 6.75% $12,082
SOUTHERN TRUST MORTGAGE, LLC 4 5.88% $13,902
CBM Mortgage, Inc. 4 5.94% $10,419
NEWREZ LLC 3 7.08% $8,879
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.21% $7,051
Southern Bank and Trust Company 3 6.08% $7,451
VILLAGE CAPITAL MORTGAGE 3 6.21% $9,513
BROKER SOLUTIONS, INC. 3 6.25% $9,486
PENTAGON FEDERAL CREDIT UNION 3 5.25% $10,207
Presidential Bank, FSB 3 5.88% $13,636
Tidewater Home Funding, LLC 3 6.00% $6,302
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.00% $6,760
Atlantic Coast Mortgage, LLC 2 6.69% $10,023
CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $9,396
INTERCOASTAL MORTGAGE COMPANY 2 6.62% $7,776
The Federal Savings Bank 2 6.88% $20,931
TIDEWATER MORTGAGE SERVICES, INC. 2 6.50% $17,451
Towne Mortgage, LLC 2 6.19% $14,443
Truist 2 6.05% $5,554
USAA Federal Savings Bank 2 6.00% $3,881
HOMESPIRE MORTGAGE CORPORATION 1 6.50% $4,551
GoPrime Mortgage, Inc. 1 6.50% $7,957
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $19,868
Gateway First Bank 1 6.13% $650
Flagstar Bank, FSB 1 5.63% $7,179
PLANET HOME LENDING, LLC 1 5.38% $5,300
CHURCHILL MORTGAGE CORPORATION 1 5.63% $10,545
Advance Financial Group, LLC 1 5.75% $20,205
Carrington Mortgage Services, LLC 1 5.38% $9,309
CARDINAL FINANCIAL 1 6.75% $7,210
Blue Ridge Bank 1 6.99% $19,483
SOVEREIGN LENDING GROUP INCORPORATED 1 6.38% $18,447
STAUNTON FINANCIAL, INC. 1 6.63% $2,469
American Mortgage & Equity Consultants, Inc. 1 7.75% $7,773
Barrington Bank & Trust Company, N.A. 1 7.25% $6,717
AMERISAVE MORTGAGE CORPORATION 1 6.25% $18,594
Wells Fargo Bank 1 5.63% $11,636
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $408
Mid-Continent Funding, Inc. 1 7.13% $13,270
LOANPAL, LLC 1 5.00% $8,990
Nations Lending Corporation 1 6.25% $8,507
Keystone Funding, Inc. 1 5.75% $14,008

The top Elizabeth City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 50 VA loans originated. Their average total fees are $4,684, which is $1,404 lower than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Elizabeth City VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,684), NVR Mortgage Finance, Inc. ($5,528), NAVY FEDERAL CREDIT UNION ($6,088), CORNERSTONE HOME LENDING, INC. ($6,569) and UNITED WHOLESALE MORTGAGE, LLC ($7,991).

The lowest rate Elizabeth City VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.66%), NAVY FEDERAL CREDIT UNION (5.71%), UNITED WHOLESALE MORTGAGE, LLC (6.07%), CORNERSTONE HOME LENDING, INC. (6.15%) and QUICKEN LOANS, LLC (6.21%).


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 (4.3%) $234,845 (0.0%) 0.00 373
2018-03-01 $219,000 (5.2%) $240,952 (1.6%) 0.00 371
2018-04-01 $219,900 (5.0%) $243,140 (3.2%) 0.00 361
2018-05-01 $224,450 (3.0%) $249,190 (3.1%) 0.00 363
2018-06-01 $217,000 (1.0%) $250,036 (4.8%) 0.00 373
2018-07-01 $218,000 (1.4%) $249,804 (5.4%) 0.00 399
2018-08-01 $215,000 (-1.2%) $247,677 (1.4%) 0.00 401
2018-09-01 $209,900 (-5.8%) $238,752 (-5.2%) 0.00 399
2018-10-01 $213,350 (-5.0%) $239,677 (-5.4%) 0.00 389
2018-11-01 $200,813 (-7.3%) $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%) $234,149 (2.5%) 0.00 326
2019-02-01 $213,250 (0.3%) $243,175 (3.6%) 0.00 331
2019-03-01 $220,714 (0.8%) $250,929 (4.1%) 0.00 347
2019-04-01 $229,000 (4.1%) $258,348 (6.3%) 0.00 364
2019-05-01 $229,000 (2.0%) $261,279 (4.9%) 0.00 375
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 (10.1%) 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 (13.3%) 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 (9.0%) 0.00 269
2020-02-01 $242,850 (13.9%) $259,997 (6.9%) 0.00 270
2020-03-01 $240,743 (9.1%) $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 (3.3%) 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 $295,000 (14.8%) $344,868 (15.3%) 0.00 115
2021-11-01 $304,875 (14.5%) $349,823 (16.0%) 0.00 108
2021-12-01 $286,175 (13.6%) $325,862 (17.9%) 0.00 98
2022-01-01 $294,990 (14.8%) $328,048 (13.5%) 0.00 105
2022-02-01 $299,225 (19.2%) $348,101 (18.2%) 0.00 104
2022-03-01 $300,968 (16.2%) $325,686 (7.3%) 0.00 108
2022-04-01 $319,400 (16.4%) $317,823 (1.2%) 0.00 111
2022-05-01 $313,750 (25.6%) $328,798 (4.6%) 0.00 109
2022-06-01 $337,373 (33.9%) $351,977 (11.9%) 0.00 124
2022-07-01 $326,000 (26.9%) $354,637 (10.5%) 0.00 162
2022-08-01 $163,225 (-35.0%) $233,534 (-30.2%) 0.00 317
2022-09-01 $257,250 (-6.5%) $272,486 (-21.0%) 0.00 240
2022-10-01 $334,495 (13.4%) $338,046 (-2.0%) 0.00 153
2022-11-01 $328,950 (7.9%) $335,418 (-4.1%) 0.00 151
2022-12-01 $349,000 (22.0%) $338,194 (3.8%) 0.00 123
2023-01-01 $349,968 (18.6%) $340,914 (3.9%) 0.00 106
2023-02-01 $343,720 (14.9%) $339,481 (-2.5%) 0.00 101
2023-03-01 $329,990 (9.6%) $327,935 (0.7%) 0.00 105
2023-04-01 $351,900 (10.2%) $353,077 (11.1%) 0.00 112
2023-05-01 $362,445 (15.5%) $366,397 (11.4%) 0.00 140
2023-06-01 $359,945 (6.7%) $374,788 (6.5%) 0.00 155
2023-07-01 $359,900 (10.4%) $396,502 (11.8%) 0.00 151
2023-08-01 $348,425 (113.5%) $393,114 (68.3%) 0.00 162
2023-09-01 $349,000 (35.7%) $409,976 (50.5%) 0.00 171
2023-10-01 $355,245 (6.2%) $402,088 (18.9%) 0.00 174
2023-11-01 $354,874 (7.9%) $384,719 (14.7%) 0.00 175
2023-12-01 $362,745 (3.9%) $380,623 (12.6%) 0.00 166
2024-01-01 $350,473 (0.1%) $366,193 (7.4%) 0.00 154
2024-02-01 $342,243 (-0.4%) $362,561 (6.8%) 0.00 161
2024-03-01 $355,000 (7.6%) $364,287 (11.1%) 0.00 170
2024-04-01 $361,495 (2.7%) $374,833 (6.2%) 0.00 159
2024-05-01 $387,750 (7.0%) $392,128 (7.0%) 0.00 177
Elizabeth City's median listing price for 2024-05-01 was $387,750, a difference of $25,305 (7.0%) versus the prior year and $26,255 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 2024-05-01 was $392,128, a difference of $25,731 (7.0%) versus the prior year and $17,295 versus the prior month.

For the 2024-05-01 period, Elizabeth City had 177 MLS listings, a difference of 18 listings (11%) versus the prior month and 37 listings (26%) 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 2,153 sqft
2018-02-01 0 days 2,148 sqft
2018-03-01 0 days 2,192 sqft
2018-04-01 0 days 2,177 sqft
2018-05-01 0 days 2,221 sqft
2018-06-01 0 days 2,184 sqft
2018-07-01 0 days 2,192 sqft
2018-08-01 0 days 2,217 sqft
2018-09-01 0 days 2,195 sqft
2018-10-01 0 days 2,206 sqft
2018-11-01 0 days 2,167 sqft
2018-12-01 0 days 2,150 sqft
2019-01-01 0 days 2,150 sqft
2019-02-01 0 days 2,166 sqft
2019-03-01 0 days 2,157 sqft
2019-04-01 0 days 2,125 sqft
2019-05-01 0 days 2,082 sqft
2019-06-01 0 days 2,109 sqft
2019-07-01 0 days 2,154 sqft
2019-08-01 0 days 2,145 sqft
2019-09-01 0 days 2,123 sqft
2019-10-01 0 days 2,115 sqft
2019-11-01 0 days 2,120 sqft
2019-12-01 0 days 2,165 sqft
2020-01-01 0 days 2,150 sqft
2020-02-01 0 days 2,150 sqft
2020-03-01 0 days 2,153 sqft
2020-04-01 0 days 2,150 sqft
2020-05-01 0 days 2,224 sqft
2020-06-01 0 days 2,356 sqft
2020-07-01 0 days 2,288 sqft
2020-08-01 0 days 2,288 sqft
2020-09-01 0 days 2,295 sqft
2020-10-01 0 days 2,190 sqft
2020-11-01 0 days 2,173 sqft
2020-12-01 0 days 2,150 sqft
2021-01-01 0 days 2,345 sqft
2021-02-01 0 days 2,415 sqft
2021-03-01 0 days 2,316 sqft
2021-04-01 0 days 2,324 sqft
2021-05-01 0 days 1,954 sqft
2021-06-01 0 days 1,904 sqft
2021-07-01 0 days 1,800 sqft
2021-08-01 0 days 2,065 sqft
2021-09-01 0 days 2,172 sqft
2021-10-01 0 days 2,196 sqft
2021-11-01 0 days 2,139 sqft
2021-12-01 0 days 2,186 sqft
2022-01-01 0 days 2,092 sqft
2022-02-01 0 days 2,071 sqft
2022-03-01 0 days 2,074 sqft
2022-04-01 0 days 2,121 sqft
2022-05-01 0 days 2,086 sqft
2022-06-01 0 days 2,121 sqft
2022-07-01 0 days 2,132 sqft
2022-08-01 0 days 2,142 sqft
2022-09-01 0 days 2,113 sqft
2022-10-01 0 days 2,028 sqft
2022-11-01 0 days 1,943 sqft
2022-12-01 0 days 2,003 sqft
2023-01-01 0 days 2,048 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
2023-09-01 0 days 2,070 sqft
2023-10-01 0 days 2,046 sqft
2023-11-01 0 days 2,060 sqft
2023-12-01 0 days 2,097 sqft
2024-01-01 0 days 2,065 sqft
2024-02-01 0 days 2,000 sqft
2024-03-01 0 days 2,033 sqft
2024-04-01 0 days 2,022 sqft
2024-05-01 0 days 2,187 sqft
Elizabeth City's median listing age (time on market) for 2024-05-01 was 0 days.

Elizabeth City's median square footage for active listings during the 2024-05-01 period was 2,187 sqft. One year prior, the average listing was 2,115 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.