Forest City VA Loan Rates, Closing Costs & Stats

Forest 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.

    Forest City's 26 lenders originated 80 VA loans during 2023. The total origination value was $22,990,000, with an average VA loan value of $287,375.

    Forest City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Forest City averaged 6.76% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Forest City's average VA mortgage closing costs are $5,305.

    The average rate for the prior week (2024-04-12) was 6.59% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Forest 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 Forest City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 19 6.95% $8,074
    MOVEMENT MORTGAGE, LLC 10 6.84% $3,155
    QUICKEN LOANS, LLC 7 6.14% $9,827
    UNITED WHOLESALE MORTGAGE, LLC 5 6.11% $8,539
    HOMESTAR FINANCIAL CORPORATION 4 7.00% $4,309
    NAVY FEDERAL CREDIT UNION 4 5.94% $3,035
    USAA Federal Savings Bank 4 6.00% $8,221
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.33% $9,291
    NEW DAY FINANCIAL, LLC 3 7.71% $9,974
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.13% $14,109
    LOANDEPOT.COM, LLC 1 5.99% $25,187
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $7,124
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $15,068
    Encompass Lending Group, LP 1 7.49% $5,878
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $13,128
    CONTOUR MORTGAGE CORPORATION 1 6.75% $15,068
    VILLAGE CAPITAL MORTGAGE 1 5.38% $10,007
    ON Q FINANCIAL, INC. 1 7.75% $4,916
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $3,327
    CMG MORTGAGE, INC. 1 6.75% $3,705
    SOUTHWEST STAGE FUNDING, LLC 1 8.25% $11,322
    T2 FINANCIAL LLC 1 7.25% $6,622
    The Federal Savings Bank 1 6.75% $17,301
    CARDINAL FINANCIAL 1 8.25% $2,284
    BROKER SOLUTIONS, INC. 1 7.25% $10,344
    GoPrime Mortgage, Inc. 1 5.75% $4,313

    The top Forest City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 19 VA loans originated. Their average total fees are $8,074, which is $4,919 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Forest City VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($3,155), Mortgage Research Center, LLC ($8,074), .

    The lowest rate Forest City VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (6.84%), Mortgage Research Center, LLC (6.95%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Forest 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 $229,900 (8.2%) $353,032 (15.3%) 0.00 421
    2018-02-01 $229,450 (5.5%) $367,160 (19.6%) 0.00 396
    2018-03-01 $231,500 (6.6%) $373,750 (20.7%) 0.00 406
    2018-04-01 $247,400 (10.0%) $389,595 (19.9%) 0.00 429
    2018-05-01 $259,700 (8.3%) $404,258 (19.6%) 0.00 459
    2018-06-01 $295,000 (19.0%) $448,995 (30.5%) 0.00 426
    2018-07-01 $291,725 (16.9%) $444,670 (27.2%) 0.00 466
    2018-08-01 $299,900 (17.8%) $461,531 (30.9%) 0.00 467
    2018-09-01 $299,900 (15.8%) $461,718 (28.3%) 0.00 498
    2018-10-01 $299,000 (12.8%) $448,602 (21.6%) 0.00 483
    2018-11-01 $299,000 (15.4%) $441,686 (18.2%) 0.00 480
    2018-12-01 $299,900 (20.0%) $443,907 (18.7%) 0.00 446
    2019-01-01 $299,900 (30.5%) $445,626 (26.2%) 0.00 422
    2019-02-01 $299,900 (30.7%) $445,755 (21.4%) 0.00 415
    2019-03-01 $299,300 (29.3%) $434,822 (16.3%) 0.00 438
    2019-04-01 $299,800 (21.2%) $437,894 (12.4%) 0.00 455
    2019-05-01 $299,700 (15.4%) $432,929 (7.1%) 0.00 487
    2019-06-01 $299,950 (1.7%) $443,239 (-1.3%) 0.00 508
    2019-07-01 $312,450 (7.1%) $439,436 (-1.2%) 0.00 493
    2019-08-01 $314,482 (4.9%) $434,023 (-6.0%) 0.00 478
    2019-09-01 $306,280 (2.1%) $430,408 (-6.8%) 0.00 467
    2019-10-01 $299,450 (0.2%) $425,555 (-5.1%) 0.00 461
    2019-11-01 $297,000 (-0.7%) $409,505 (-7.3%) 0.00 433
    2019-12-01 $287,475 (-4.1%) $399,899 (-9.9%) 0.00 389
    2020-01-01 $298,000 (-0.6%) $413,424 (-7.2%) 0.00 310
    2020-02-01 $294,950 (-1.7%) $417,965 (-6.2%) 0.00 293
    2020-03-01 $299,000 (-0.1%) $427,951 (-1.6%) 0.00 294
    2020-04-01 $295,500 (-1.4%) $430,272 (-1.7%) 0.00 294
    2020-05-01 $325,000 (8.4%) $450,147 (4.0%) 0.00 274
    2020-06-01 $349,800 (16.6%) $462,361 (4.3%) 0.00 254
    2020-07-01 $349,900 (12.0%) $470,013 (7.0%) 0.00 231
    2020-08-01 $349,000 (11.0%) $471,745 (8.7%) 0.00 200
    2020-09-01 $349,000 (14.0%) $473,777 (10.1%) 0.00 163
    2020-10-01 $312,000 (4.2%) $442,113 (3.9%) 0.00 157
    2020-11-01 $299,250 (0.8%) $434,808 (6.2%) 0.00 150
    2020-12-01 $298,225 (3.7%) $443,495 (10.9%) 0.00 128
    2021-01-01 $284,500 (-4.5%) $412,099 (-0.3%) 0.00 109
    2021-02-01 $269,900 (-8.5%) $396,613 (-5.1%) 0.00 109
    2021-03-01 $278,200 (-7.0%) $441,213 (3.1%) 0.00 84
    2021-04-01 $307,975 (4.2%) $478,908 (11.3%) 0.00 79
    2021-05-01 $414,600 (27.6%) $539,821 (19.9%) 0.00 84
    2021-06-01 $409,375 (17.0%) $527,544 (14.1%) 0.00 114
    2021-07-01 $349,000 (-0.3%) $482,663 (2.7%) 0.00 134
    2021-08-01 $344,500 (-1.3%) $478,854 (1.5%) 0.00 137
    2021-09-01 $361,950 (3.7%) $496,566 (4.8%) 0.00 127
    2021-10-01 $344,000 (10.3%) $486,376 (10.0%) 0.00 133
    2021-11-01 $340,000 (13.6%) $458,302 (5.4%) 0.00 117
    2021-12-01 $345,000 (15.7%) $475,651 (7.3%) 0.00 116
    2022-01-01 $320,000 (12.5%) $458,027 (11.1%) 0.00 95
    2022-02-01 $327,500 (21.3%) $451,837 (13.9%) 0.00 84
    2022-03-01 $377,200 (35.6%) $492,847 (11.7%) 0.00 78
    2022-04-01 $400,000 (29.9%) $503,768 (5.2%) 0.00 79
    2022-05-01 $332,725 (-19.8%) $474,891 (-12.0%) 0.00 96
    2022-06-01 $325,450 (-20.5%) $488,440 (-7.4%) 0.00 108
    2022-07-01 $335,000 (-4.0%) $499,314 (3.5%) 0.00 155
    2022-08-01 $343,975 (-0.2%) $493,602 (3.1%) 0.00 180
    2022-09-01 $345,450 (-4.6%) $502,280 (1.2%) 0.00 165
    2022-10-01 $349,900 (1.7%) $490,634 (0.9%) 0.00 178
    2022-11-01 $348,450 (2.5%) $517,655 (13.0%) 0.00 174
    2022-12-01 $330,000 (-4.4%) $499,296 (5.0%) 0.00 175
    2023-01-01 $324,000 (1.3%) $468,131 (2.2%) 0.00 152
    2023-02-01 $325,000 (-0.8%) $487,416 (7.9%) 0.00 120
    2023-03-01 $357,450 (-5.2%) $515,465 (4.6%) 0.00 114
    2023-04-01 $372,450 (-6.9%) $542,765 (7.7%) 0.00 124
    2023-05-01 $425,738 (28.0%) $584,732 (23.1%) 0.00 120
    2023-06-01 $442,700 (36.0%) $572,558 (17.2%) 0.00 141
    2023-07-01 $434,500 (29.7%) $561,971 (12.6%) 0.00 154
    2023-08-01 $412,363 (19.9%) $544,031 (10.2%) 0.00 150
    2023-09-01 $414,900 (20.1%) $554,054 (10.3%) 0.00 169
    2023-10-01 $399,500 (14.2%) $520,966 (6.2%) 0.00 195
    2023-11-01 $399,250 (14.6%) $547,292 (5.7%) 0.00 210
    2023-12-01 $395,000 (19.7%) $540,339 (8.2%) 0.00 193
    2024-01-01 $373,688 (15.3%) $533,780 (14.0%) 0.00 195
    2024-02-01 $361,150 (11.1%) $528,930 (8.5%) 0.00 169
    2024-03-01 $386,750 (8.2%) $529,320 (2.7%) 0.00 166
    Forest City's median listing price for 2024-03-01 was $386,750, a difference of $29,300 (8.2%) versus the prior year and $25,600 versus the prior month.

    Forest City's median listing price comes in at 0% of the national average.

    Forest City's average listing price for 2024-03-01 was $529,320, a difference of $13,855 (2.7%) versus the prior year and $390 versus the prior month.

    For the 2024-03-01 period, Forest City had 166 MLS listings, a difference of -3 listings (-2%) versus the prior month and 52 listings (46%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Forest 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 1,941 sqft
    2018-02-01 0 days 1,917 sqft
    2018-03-01 0 days 1,978 sqft
    2018-04-01 0 days 2,006 sqft
    2018-05-01 0 days 2,005 sqft
    2018-06-01 0 days 2,003 sqft
    2018-07-01 0 days 2,024 sqft
    2018-08-01 0 days 2,041 sqft
    2018-09-01 0 days 2,073 sqft
    2018-10-01 0 days 2,077 sqft
    2018-11-01 0 days 2,078 sqft
    2018-12-01 0 days 2,100 sqft
    2019-01-01 0 days 2,101 sqft
    2019-02-01 0 days 2,042 sqft
    2019-03-01 0 days 2,024 sqft
    2019-04-01 0 days 2,030 sqft
    2019-05-01 0 days 2,043 sqft
    2019-06-01 0 days 2,180 sqft
    2019-07-01 0 days 2,171 sqft
    2019-08-01 0 days 2,186 sqft
    2019-09-01 0 days 2,134 sqft
    2019-10-01 0 days 2,099 sqft
    2019-11-01 0 days 2,006 sqft
    2019-12-01 0 days 1,959 sqft
    2020-01-01 0 days 1,950 sqft
    2020-02-01 0 days 1,899 sqft
    2020-03-01 0 days 1,974 sqft
    2020-04-01 0 days 2,002 sqft
    2020-05-01 0 days 2,005 sqft
    2020-06-01 0 days 2,100 sqft
    2020-07-01 0 days 2,135 sqft
    2020-08-01 0 days 2,079 sqft
    2020-09-01 0 days 1,951 sqft
    2020-10-01 0 days 1,836 sqft
    2020-11-01 0 days 1,741 sqft
    2020-12-01 0 days 1,739 sqft
    2021-01-01 0 days 1,662 sqft
    2021-02-01 0 days 1,661 sqft
    2021-03-01 0 days 1,716 sqft
    2021-04-01 0 days 1,757 sqft
    2021-05-01 0 days 2,064 sqft
    2021-06-01 0 days 2,147 sqft
    2021-07-01 0 days 1,906 sqft
    2021-08-01 0 days 1,892 sqft
    2021-09-01 0 days 1,906 sqft
    2021-10-01 0 days 1,961 sqft
    2021-11-01 0 days 1,835 sqft
    2021-12-01 0 days 1,833 sqft
    2022-01-01 0 days 1,572 sqft
    2022-02-01 0 days 1,735 sqft
    2022-03-01 0 days 1,914 sqft
    2022-04-01 0 days 1,802 sqft
    2022-05-01 0 days 1,805 sqft
    2022-06-01 0 days 1,787 sqft
    2022-07-01 0 days 1,718 sqft
    2022-08-01 0 days 1,698 sqft
    2022-09-01 0 days 1,672 sqft
    2022-10-01 0 days 1,688 sqft
    2022-11-01 0 days 1,677 sqft
    2022-12-01 0 days 1,664 sqft
    2023-01-01 0 days 1,665 sqft
    2023-02-01 0 days 1,590 sqft
    2023-03-01 0 days 1,601 sqft
    2023-04-01 0 days 1,636 sqft
    2023-05-01 0 days 1,800 sqft
    2023-06-01 0 days 1,831 sqft
    2023-07-01 0 days 1,802 sqft
    2023-08-01 0 days 1,662 sqft
    2023-09-01 0 days 1,664 sqft
    2023-10-01 0 days 1,702 sqft
    2023-11-01 0 days 1,752 sqft
    2023-12-01 0 days 1,751 sqft
    2024-01-01 0 days 1,684 sqft
    2024-02-01 0 days 1,807 sqft
    2024-03-01 0 days 1,808 sqft
    Forest City's median listing age (time on market) for 2024-03-01 was 0 days.

    Forest City's median square footage for active listings during the 2024-03-01 period was 1,808 sqft. One year prior, the average listing was 1,601 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.