Florence VA Loan Rates, Closing Costs & Stats
FLORENCE, SC
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.
Florence's 72 lenders originated 351 VA loans during 2022. The total origination value was $88,745,000, with an average VA loan value of $252,835.
Florence VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Florence
averaged
-0.37%
for the week of 2023-11-24, compared to the national average (all VA variants) of
0% for the same period.
Florence's average VA mortgage closing costs are $4,930.
The average rate for the prior week (2023-11-17) was
6.87% and
one month ago for the week of 2023-10-20, the
average rate was 7.1%.
The average rate one year ago was 6.22%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.18%.
Florence 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 Florence level.
The top Florence VA lender as defined by loan originations is Mortgage Research Center, LLC, with
69 VA loans originated. Their average total fees are
$5,837, which is $762
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Florence VA lenders (with over 10 loans originated) are
USAA Federal Savings Bank ($5,704), Mortgage Research Center, LLC ($5,837), MORTGAGE SOLUTIONS OF COLORADO, LLC ($6,131), QUICKEN LOANS, LLC ($6,599) and NAVY FEDERAL CREDIT UNION ($7,109).
The lowest rate Florence VA lenders (with over 10 loans originated) are
GUARANTEED RATE, INC. (3.66%), NAVY FEDERAL CREDIT UNION (3.85%), QUICKEN LOANS, LLC (4.06%), LOANDEPOT.COM, LLC (4.33%) and FREEDOM MORTGAGE CORPORATION (4.38%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Florence (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 | $159,900 (2.9%) | $199,158 (4.1%) | 0.59 | 606 |
2018-02-01 | $166,750 (5.2%) | $205,389 (6.9%) | 0.61 | 618 |
2018-03-01 | $173,550 (8.8%) | $208,815 (5.5%) | 0.61 | 651 |
2018-04-01 | $170,000 (4.1%) | $209,606 (1.9%) | 0.58 | 670 |
2018-05-01 | $179,900 (8.4%) | $216,308 (2.7%) | 0.60 | 703 |
2018-06-01 | $177,450 (5.7%) | $215,056 (1.4%) | 0.59 | 714 |
2018-07-01 | $177,575 (1.5%) | $211,010 (-1.5%) | 0.59 | 741 |
2018-08-01 | $175,625 (1.9%) | $206,101 (-3.2%) | 0.59 | 744 |
2018-09-01 | $175,000 (4.2%) | $201,674 (-2.6%) | 0.59 | 698 |
2018-10-01 | $169,950 (-1.1%) | $199,921 (-5.7%) | 0.58 | 681 |
2018-11-01 | $169,900 (0.0%) | $197,445 (-7.5%) | 0.58 | 667 |
2018-12-01 | $166,500 (1.2%) | $195,220 (-0.8%) | 0.57 | 662 |
2019-01-01 | $168,586 (5.4%) | $196,657 (-1.3%) | 0.58 | 640 |
2019-02-01 | $168,225 (0.9%) | $197,626 (-3.8%) | 0.57 | 635 |
2019-03-01 | $168,500 (-2.9%) | $199,443 (-4.5%) | 0.55 | 743 |
2019-04-01 | $172,425 (1.4%) | $203,938 (-2.7%) | 0.55 | 883 |
2019-05-01 | $182,250 (1.3%) | $210,689 (-2.6%) | 0.57 | 862 |
2019-06-01 | $187,995 (5.9%) | $217,241 (1.0%) | 0.59 | 862 |
2019-07-01 | $186,495 (5.0%) | $217,998 (3.3%) | 0.58 | 864 |
2019-08-01 | $183,336 (4.4%) | $214,370 (4.0%) | 0.58 | 855 |
2019-09-01 | $180,841 (3.3%) | $212,232 (5.2%) | 0.58 | 841 |
2019-10-01 | $179,702 (5.7%) | $211,473 (5.8%) | 0.58 | 835 |
2019-11-01 | $184,950 (8.9%) | $211,247 (7.0%) | 0.61 | 827 |
2019-12-01 | $185,080 (11.2%) | $210,364 (7.8%) | 0.62 | 731 |
2020-01-01 | $185,413 (10.0%) | $208,704 (6.1%) | 0.62 | 713 |
2020-02-01 | $189,900 (12.9%) | $206,735 (4.6%) | 0.62 | 767 |
2020-03-01 | $188,873 (12.1%) | $211,485 (6.0%) | 0.59 | 780 |
2020-04-01 | $189,900 (10.1%) | $215,026 (5.4%) | 0.59 | 748 |
2020-05-01 | $199,000 (9.2%) | $221,377 (5.1%) | 0.60 | 723 |
2020-06-01 | $200,000 (6.4%) | $226,102 (4.1%) | 0.59 | 720 |
2020-07-01 | $192,900 (3.4%) | $219,752 (0.8%) | 0.56 | 738 |
2020-08-01 | $189,900 (3.6%) | $221,338 (3.3%) | 0.54 | 686 |
2020-09-01 | $189,925 (5.0%) | $224,469 (5.8%) | 0.54 | 629 |
2020-10-01 | $190,900 (6.2%) | $226,735 (7.2%) | 0.55 | 579 |
2020-11-01 | $189,950 (2.7%) | $227,909 (7.9%) | 0.56 | 570 |
2020-12-01 | $189,475 (2.4%) | $225,849 (7.4%) | 0.56 | 548 |
2021-01-01 | $189,900 (2.4%) | $225,072 (7.8%) | 0.57 | 523 |
2021-02-01 | $206,725 (8.9%) | $232,198 (12.3%) | 0.60 | 534 |
2021-03-01 | $199,950 (5.9%) | $232,312 (9.9%) | 0.57 | 545 |
2021-04-01 | $214,925 (13.2%) | $244,884 (13.9%) | 0.58 | 544 |
2021-05-01 | $210,000 (5.5%) | $245,144 (10.7%) | 0.56 | 540 |
2021-06-01 | $212,450 (6.2%) | $245,306 (8.5%) | 0.56 | 549 |
2021-07-01 | $206,950 (7.3%) | $240,368 (9.4%) | 0.55 | 549 |
2021-08-01 | $217,000 (14.3%) | $626,604 (183.1%) | 0.58 | 576 |
2021-09-01 | $219,000 (15.3%) | $616,519 (174.7%) | 0.58 | 607 |
2021-10-01 | $217,000 (13.7%) | $648,424 (186.0%) | 0.58 | 567 |
2021-11-01 | $222,500 (17.1%) | $659,387 (189.3%) | 0.59 | 555 |
2021-12-01 | $225,053 (18.8%) | $264,812 (17.3%) | 0.61 | 531 |
2022-01-01 | $233,500 (23.0%) | $267,587 (18.9%) | 0.63 | 484 |
2022-02-01 | $239,000 (15.6%) | $272,103 (17.2%) | 0.62 | 482 |
2022-03-01 | $235,000 (17.5%) | $266,241 (14.6%) | 0.59 | 496 |
2022-04-01 | $235,000 (9.3%) | $271,235 (10.8%) | 0.56 | 450 |
2022-05-01 | $242,450 (15.5%) | $275,365 (12.3%) | 0.55 | 517 |
2022-06-01 | $256,294 (20.6%) | $289,683 (18.1%) | 0.57 | 589 |
2022-07-01 | $264,836 (28.0%) | $287,929 (19.8%) | 0.60 | 608 |
2022-08-01 | $250,950 (15.7%) | $281,164 (-55.1%) | 0.58 | 617 |
2022-09-01 | $267,368 (22.1%) | $288,383 (-53.2%) | 0.63 | 609 |
2022-10-01 | $273,369 (26.0%) | $292,444 (-54.9%) | 0.64 | 609 |
2022-11-01 | $274,497 (23.4%) | $287,933 (-56.3%) | 0.66 | 584 |
2022-12-01 | $269,900 (19.9%) | $284,189 (7.3%) | 0.67 | 543 |
2023-01-01 | $260,473 (11.6%) | $279,411 (4.4%) | 0.65 | 529 |
2023-02-01 | $255,750 (7.0%) | $274,314 (0.8%) | 0.62 | 537 |
2023-03-01 | $261,448 (11.3%) | $285,462 (7.2%) | 0.62 | 497 |
2023-04-01 | $259,900 (10.6%) | $284,237 (4.8%) | 0.60 | 523 |
2023-05-01 | $266,723 (10.0%) | $291,368 (5.8%) | 0.60 | 500 |
2023-06-01 | $273,950 (6.9%) | $300,362 (3.7%) | 0.62 | 507 |
2023-07-01 | $276,990 (4.6%) | $301,539 (4.7%) | 0.63 | 519 |
2023-08-01 | $275,445 (9.8%) | $299,320 (6.5%) | 0.63 | 510 |
2023-09-01 | $271,576 (1.6%) | $292,625 (1.5%) | 0.63 | 509 |
2023-10-01 | $266,995 (-2.3%) | $289,964 (-0.9%) | 0.63 | 521 |
Florence's median listing price comes in at 63% of the national average.
Florence's average listing price for 2023-10-01 was $289,964, a difference of $-2,480 (-0.9%) versus the prior year and $-2,661 versus the prior month.
For the 2023-10-01 period, Florence had 521 MLS listings, a difference of 12 listings (2%) versus the prior month and -88 listings (-14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Florence (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 96 days | 1,890 sqft |
2018-02-01 | 96 days | 1,952 sqft |
2018-03-01 | 73 days | 2,030 sqft |
2018-04-01 | 68 days | 2,074 sqft |
2018-05-01 | 67 days | 2,100 sqft |
2018-06-01 | 71 days | 2,086 sqft |
2018-07-01 | 77 days | 2,082 sqft |
2018-08-01 | 81 days | 2,045 sqft |
2018-09-01 | 89 days | 2,008 sqft |
2018-10-01 | 89 days | 1,922 sqft |
2018-11-01 | 94 days | 1,861 sqft |
2018-12-01 | 93 days | 1,849 sqft |
2019-01-01 | 93 days | 1,868 sqft |
2019-02-01 | 94 days | 1,902 sqft |
2019-03-01 | 88 days | 1,905 sqft |
2019-04-01 | 82 days | 1,923 sqft |
2019-05-01 | 80 days | 1,988 sqft |
2019-06-01 | 79 days | 2,042 sqft |
2019-07-01 | 78 days | 2,075 sqft |
2019-08-01 | 80 days | 2,028 sqft |
2019-09-01 | 82 days | 1,985 sqft |
2019-10-01 | 82 days | 1,981 sqft |
2019-11-01 | 79 days | 1,981 sqft |
2019-12-01 | 88 days | 1,984 sqft |
2020-01-01 | 95 days | 1,984 sqft |
2020-02-01 | 89 days | 2,003 sqft |
2020-03-01 | 70 days | 2,009 sqft |
2020-04-01 | 74 days | 2,030 sqft |
2020-05-01 | 78 days | 2,072 sqft |
2020-06-01 | 81 days | 2,092 sqft |
2020-07-01 | 69 days | 2,043 sqft |
2020-08-01 | 66 days | 2,002 sqft |
2020-09-01 | 75 days | 2,035 sqft |
2020-10-01 | 74 days | 2,010 sqft |
2020-11-01 | 59 days | 1,884 sqft |
2020-12-01 | 61 days | 1,849 sqft |
2021-01-01 | 61 days | 1,900 sqft |
2021-02-01 | 46 days | 2,070 sqft |
2021-03-01 | 49 days | 2,041 sqft |
2021-04-01 | 50 days | 2,045 sqft |
2021-05-01 | 50 days | 2,034 sqft |
2021-06-01 | 48 days | 1,969 sqft |
2021-07-01 | 45 days | 1,882 sqft |
2021-08-01 | 44 days | 1,931 sqft |
2021-09-01 | 44 days | 1,962 sqft |
2021-10-01 | 54 days | 1,880 sqft |
2021-11-01 | 56 days | 1,911 sqft |
2021-12-01 | 52 days | 1,905 sqft |
2022-01-01 | 61 days | 1,906 sqft |
2022-02-01 | 53 days | 1,901 sqft |
2022-03-01 | 44 days | 1,874 sqft |
2022-04-01 | 46 days | 1,837 sqft |
2022-05-01 | 38 days | 1,826 sqft |
2022-06-01 | 37 days | 1,919 sqft |
2022-07-01 | 44 days | 1,956 sqft |
2022-08-01 | 54 days | 1,945 sqft |
2022-09-01 | 55 days | 1,964 sqft |
2022-10-01 | 57 days | 1,999 sqft |
2022-11-01 | 64 days | 2,044 sqft |
2022-12-01 | 74 days | 1,961 sqft |
2023-01-01 | 81 days | 1,956 sqft |
2023-02-01 | 76 days | 1,947 sqft |
2023-03-01 | 65 days | 1,957 sqft |
2023-04-01 | 55 days | 1,922 sqft |
2023-05-01 | 51 days | 1,968 sqft |
2023-06-01 | 51 days | 1,962 sqft |
2023-07-01 | 51 days | 1,959 sqft |
2023-08-01 | 52 days | 1,927 sqft |
2023-09-01 | 53 days | 1,913 sqft |
2023-10-01 | 52 days | 1,920 sqft |
Florence's median square footage for active listings during the 2023-10-01 period was 1,920 sqft. One year prior, the average listing was 1,999 sqft.