Florence VA Loan Rates, Closing Costs & Stats

FLORENCE, SC

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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.

    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%.

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

    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.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 69 5.21% $5,837
    QUICKEN LOANS, LLC 21 4.06% $6,599
    MOVEMENT MORTGAGE, LLC 19 5.39% $7,338
    UNITED WHOLESALE MORTGAGE, LLC 13 5.01% $8,844
    LOANDEPOT.COM, LLC 13 4.33% $9,567
    FREEDOM MORTGAGE CORPORATION 12 4.38% $10,310
    FINANCE OF AMERICA MORTGAGE LLC 11 4.52% $10,467
    USAA Federal Savings Bank 11 5.23% $5,704
    MORTGAGE SOLUTIONS OF COLORADO, LLC 11 5.49% $6,131
    NAVY FEDERAL CREDIT UNION 10 3.85% $7,109
    GUARANTEED RATE, INC. 10 3.66% $8,203
    NEW DAY FINANCIAL, LLC 8 5.21% $5,103
    INSPIRE HOME LOANS INC. 7 4.82% $6,584
    Magnolia Bank 7 5.38% $11,220
    CALIBER HOME LOANS, INC. 6 4.77% $8,382
    MCLEAN MORTGAGE CORPORATION 6 4.73% $9,874
    GUILD MORTGAGE COMPANY 6 4.83% $9,079
    Wells Fargo Bank 6 4.85% $5,674
    PENNYMAC LOAN SERVICES, LLC 5 3.60% $6,688
    SUMMIT FUNDING, INC. 4 6.16% $6,854
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 4.81% $3,257
    Barrington Bank & Trust Company, N.A. 3 4.58% $6,301
    CLEARPATH LENDING 3 4.08% $11,540
    Mr. Cooper ( Nationstar Mortgage ) 3 5.17% $7,068
    Lakeview Community Capital, LLC 2 4.25% $2,972
    GENEVA FINANCIAL, LLC 2 4.63% $6,130
    FBC MORTGAGE, LLC 2 5.25% $11,122
    INTERCOASTAL MORTGAGE COMPANY 2 5.50% $7,677
    JPMorgan Chase Bank 2 5.75% $4,175
    First Reliance Bank 2 5.00% $14,606
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $7,016
    CONTOUR MORTGAGE CORPORATION 2 5.25% $10,376
    CMG MORTGAGE, INC. 2 5.25% $5,049
    Mid-Continent Funding, Inc. 2 2.75% $4,872
    Century Mortgage Company DBA Century Lending Company 2 4.94% $6,216
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.19% $1,865
    PENTAGON FEDERAL CREDIT UNION 2 6.25% $5,952
    SUCCESS MORTGAGE PARTNERS, INC. 2 4.81% $12,172
    Acre Mortgage and Financial Inc 2 3.44% $6,975
    T2 FINANCIAL LLC 2 6.00% $13,637
    The Federal Savings Bank 2 5.69% $15,133
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.50% $1,329
    Carrington Mortgage Services, LLC 1 5.75% $6,238
    First Guaranty Mortgage Corporation 1 2.88% $6,970
    TIDEWATER MORTGAGE SERVICES, INC. 1 5.63% $4,160
    NATIONS DIRECT MORTGAGE, LLC 1 2.99% $11,836
    CARDINAL FINANCIAL 1 4.75% $6,149
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $4,185
    BROKER SOLUTIONS, INC. 1 3.38% $7,891
    NEWREZ LLC 1 4.25% $8,284
    OCEANSIDE MORTGAGE COMPANY 1 3.49% $8,976
    PANORAMA MORTGAGE GROUP, LLC 1 4.25% $7,770
    Flagstar Bank, FSB 1 6.25% $13,965
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.75% $3,357
    Peoples Bank 1 4.50% $4,512
    PHH Mortgage Corporation 1 5.13% $9,201
    GSF Mortgage Corporation 1 7.13% $19,121
    PNC Bank 1 3.75% $2,259
    Equity Prime Mortgage LLC 1 6.63% $3,543
    HOMESTAR FINANCIAL CORPORATION 1 5.50% $12,067
    DAS Acquisition Company, LLC 1 5.50% $11,431
    PREMIER LENDING, INC. 1 3.25% $3,831
    Assurance Financial Group, L.L.C. 1 5.62% $11,272
    RESOURCE FINANCIAL SERVICES, INC. 1 3.25% $4,497
    LEADERONE FINANCIAL CORPORATION 1 4.13% $10,316
    South State Bank 1 5.00% $5,351
    AmRes Corporation 1 4.38% $4,024
    American Security Mortgage Corp. 1 5.63% $3,546
    VERITAS FUNDING, LLC 1 2.99% $22,060
    Mortgage Network, Inc. 1 5.00% $20,996
    GoPrime Mortgage, Inc. 1 6.00% $6,668
    Waterstone Mortgage Corporation 1 5.13% $15,997

    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. Louis
    Date 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 for 2023-10-01 was $266,995, a difference of $-6,374 (-2.3%) versus the prior year and $-4,581 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2023-10-01 was 52 days. This is -8% shorter than the same period one year ago.

    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.

    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.