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 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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.