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 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 6.75% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.68% and one month ago for the week of 2024-03-15, the average rate was 6.44%.

    The average rate one year ago was 6.23%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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
    Elizabeth City's median listing price for 2024-03-01 was $355,000, a difference of $25,010 (7.6%) versus the prior year and $12,757 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 2024-03-01 was $364,287, a difference of $36,352 (11.1%) versus the prior year and $1,726 versus the prior month.

    For the 2024-03-01 period, Elizabeth City had 170 MLS listings, a difference of 9 listings (6%) versus the prior month and 65 listings (62%) 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
    Elizabeth City's median listing age (time on market) for 2024-03-01 was 0 days.

    Elizabeth City's median square footage for active listings during the 2024-03-01 period was 2,033 sqft. One year prior, the average listing was 1,944 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.