Gaffney VA Loan Rates, Closing Costs & Stats

Gaffney, SC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Gaffney's 33 lenders originated 88 VA loans during 2023. The total origination value was $23,030,000, with an average VA loan value of $261,705.

    Gaffney VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Gaffney averaged 6.32% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Gaffney's average VA mortgage closing costs are $5,036.

    The average rate for the prior week (2025-02-07) was 6.66% and one month ago for the week of 2025-01-10, the average rate was 6.59%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.23%.

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

    Gaffney 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 Gaffney level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 16 7.06% $5,165
    INSPIRE HOME LOANS INC. 9 6.11% $4,725
    QUICKEN LOANS, LLC 7 5.89% $9,007
    UNITED WHOLESALE MORTGAGE, LLC 4 6.76% $2,938
    CARDINAL FINANCIAL 4 6.94% $11,684
    Sierra Pacific Mortgage Company, Inc. 4 6.00% $9,299
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.13% $263
    Fifth Third Bank 2 6.56% $2,887
    NAVY FEDERAL CREDIT UNION 2 5.94% $2,974
    FREEDOM MORTGAGE CORPORATION 2 6.75% $9,486
    MOVEMENT MORTGAGE, LLC 2 7.00% $8,634
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $6,488
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.44% $11,925
    MLD MORTGAGE INC. 1 6.88% $3,732
    NEW DAY FINANCIAL, LLC 1 7.50% $10,032
    Paramount Residential Mortgage Group, Inc. 1 6.25% $6,505
    PENNYMAC LOAN SERVICES, LLC 1 5.00% $2,945
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $11,838
    RESOURCE FINANCIAL SERVICES, INC. 1 7.25% $10,132
    The Federal Savings Bank 1 6.13% $18,300
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.13% $2,936
    Bank of America 1 6.88% $4,341
    Bank of England 1 6.25% $5,637
    BROKER SOLUTIONS, INC. 1 6.25% $6,147
    Equity Prime Mortgage LLC 1 7.50% $4,976
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,740
    First-Citizens Bank & Trust Company 1 5.50% $3,713
    First Federal Bank 1 7.13% $21,640
    Flagstar Bank, FSB 1 7.25% $4,500
    GUILD MORTGAGE COMPANY 1 6.13% $8,611
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.25% $8,755
    ACOPIA, LLC 1 5.50% $3,377
    LOANDEPOT.COM, LLC 1 5.50% $12,181

    The top Gaffney VA lender as defined by loan originations is Mortgage Research Center, LLC, with 16 VA loans originated. Their average total fees are $5,165, which is $440 higher than the next largest lender, INSPIRE HOME LOANS INC..

    The lowest fee Gaffney VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,165), .

    The lowest rate Gaffney VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.06%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Gaffney (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 $139,675 (20.3%) $193,080 (32.5%) 0.00 88
    2018-02-01 $143,475 (22.2%) $201,476 (43.7%) 0.00 91
    2018-03-01 $152,400 (28.4%) $227,829 (62.4%) 0.00 85
    2018-04-01 $149,117 (19.4%) $203,148 (39.3%) 0.00 82
    2018-05-01 $147,450 (13.1%) $203,162 (33.9%) 0.00 90
    2018-06-01 $162,400 (18.2%) $208,744 (30.3%) 0.00 87
    2018-07-01 $162,700 (21.5%) $204,581 (16.8%) 0.00 72
    2018-08-01 $148,800 (10.3%) $187,993 (-2.9%) 0.00 81
    2018-09-01 $159,900 (18.5%) $186,619 (-0.3%) 0.00 92
    2018-10-01 $158,900 (13.6%) $194,712 (11.2%) 0.00 102
    2018-11-01 $156,225 (18.0%) $196,133 (11.1%) 0.00 109
    2018-12-01 $143,700 (2.7%) $191,202 (10.6%) 0.00 104
    2019-01-01 $146,200 (4.7%) $199,810 (3.5%) 0.00 93
    2019-02-01 $144,900 (1.0%) $212,655 (5.6%) 0.00 90
    2019-03-01 $161,214 (5.8%) $216,790 (-4.9%) 0.00 78
    2019-04-01 $172,314 (15.6%) $215,557 (6.1%) 0.00 74
    2019-05-01 $173,563 (17.7%) $216,180 (6.4%) 0.00 86
    2019-06-01 $167,900 (3.4%) $213,928 (2.5%) 0.00 92
    2019-07-01 $166,250 (2.2%) $211,670 (3.5%) 0.00 97
    2019-08-01 $170,032 (14.3%) $208,578 (11.0%) 0.00 90
    2019-09-01 $183,205 (14.6%) $215,938 (15.7%) 0.00 81
    2019-10-01 $187,711 (18.1%) $219,795 (12.9%) 0.00 75
    2019-11-01 $174,750 (11.9%) $216,446 (10.4%) 0.00 81
    2019-12-01 $169,950 (18.3%) $208,306 (9.0%) 0.00 91
    2020-01-01 $189,975 (29.9%) $218,880 (9.5%) 0.00 87
    2020-02-01 $180,000 (24.2%) $208,536 (-1.9%) 0.00 102
    2020-03-01 $159,900 (-0.8%) $184,056 (-15.1%) 0.00 109
    2020-04-01 $170,975 (-0.8%) $190,576 (-11.6%) 0.00 107
    2020-05-01 $180,950 (4.3%) $192,092 (-11.1%) 0.00 86
    2020-06-01 $185,750 (10.6%) $192,320 (-10.1%) 0.00 77
    2020-07-01 $162,125 (-2.5%) $193,445 (-8.6%) 0.00 61
    2020-08-01 $183,850 (8.1%) $187,670 (-10.0%) 0.00 61
    2020-09-01 $189,900 (3.7%) $204,086 (-5.5%) 0.00 60
    2020-10-01 $179,900 (-4.2%) $197,825 (-10.0%) 0.00 49
    2020-11-01 $202,200 (15.7%) $278,455 (28.7%) 0.00 46
    2020-12-01 $229,225 (34.9%) $286,820 (37.7%) 0.00 43
    2021-01-01 $212,400 (11.8%) $260,040 (18.8%) 0.00 43
    2021-02-01 $212,175 (17.9%) $273,799 (31.3%) 0.00 36
    2021-03-01 $221,550 (38.6%) $292,539 (58.9%) 0.00 26
    2021-04-01 $218,923 (28.0%) $317,044 (66.4%) 0.00 24
    2021-05-01 $213,600 (18.0%) $352,768 (83.7%) 0.00 26
    2021-06-01 $200,574 (8.0%) $319,795 (66.3%) 0.00 29
    2021-07-01 $204,923 (26.4%) $304,931 (57.6%) 0.00 39
    2021-08-01 $225,473 (22.6%) $324,938 (73.1%) 0.00 47
    2021-09-01 $184,700 (-2.7%) $261,647 (28.2%) 0.00 52
    2021-10-01 $185,000 (2.8%) $289,882 (46.5%) 0.00 51
    2021-11-01 $208,236 (3.0%) $281,687 (1.2%) 0.00 43
    2021-12-01 $226,000 (-1.4%) $272,095 (-5.1%) 0.00 42
    2022-01-01 $224,500 (5.7%) $259,426 (-0.2%) 0.00 36
    2022-02-01 $263,125 (24.0%) $274,683 (0.3%) 0.00 51
    2022-03-01 $269,900 (21.8%) $261,752 (-10.5%) 0.00 50
    2022-04-01 $249,000 (13.7%) $274,136 (-13.5%) 0.00 46
    2022-05-01 $209,950 (-1.7%) $286,190 (-18.9%) 0.00 57
    2022-06-01 $223,650 (11.5%) $293,134 (-8.3%) 0.00 72
    2022-07-01 $251,900 (22.9%) $293,673 (-3.7%) 0.00 84
    2022-08-01 $247,038 (9.6%) $288,690 (-11.2%) 0.00 95
    2022-09-01 $259,900 (40.7%) $288,604 (10.3%) 0.00 110
    2022-10-01 $274,400 (48.3%) $295,060 (1.8%) 0.00 116
    2022-11-01 $276,675 (32.9%) $285,592 (1.4%) 0.00 117
    2022-12-01 $260,000 (15.0%) $269,054 (-1.1%) 0.00 122
    2023-01-01 $261,945 (16.7%) $263,806 (1.7%) 0.00 113
    2023-02-01 $253,725 (-3.6%) $264,064 (-3.9%) 0.00 103
    2023-03-01 $255,623 (-5.3%) $274,197 (4.8%) 0.00 93
    2023-04-01 $259,900 (4.4%) $284,080 (3.6%) 0.00 95
    2023-05-01 $271,758 (29.4%) $292,802 (2.3%) 0.00 119
    2023-06-01 $271,975 (21.6%) $303,302 (3.5%) 0.00 122
    2023-07-01 $255,500 (1.4%) $301,425 (2.6%) 0.00 122
    2023-08-01 $259,900 (5.2%) $308,784 (7.0%) 0.00 126
    2023-09-01 $255,545 (-1.7%) $307,997 (6.7%) 0.00 116
    2023-10-01 $262,628 (-4.3%) $300,626 (1.9%) 0.00 97
    2023-11-01 $265,810 (-3.9%) $303,534 (6.3%) 0.00 96
    2023-12-01 $277,000 (6.5%) $301,601 (12.1%) 0.00 95
    2024-01-01 $273,675 (4.5%) $300,922 (14.1%) 0.00 103
    2024-02-01 $254,720 (0.4%) $290,425 (10.0%) 0.00 108
    2024-03-01 $249,450 (-2.4%) $289,304 (5.5%) 0.00 108
    2024-04-01 $254,950 (-1.9%) $308,745 (8.7%) 0.00 116
    2024-05-01 $275,700 (1.5%) $308,882 (5.5%) 0.00 106
    2024-06-01 $248,900 (-8.5%) $293,374 (-3.3%) 0.00 111
    2024-07-01 $249,200 (-2.5%) $282,432 (-6.3%) 0.00 117
    2024-08-01 $247,788 (-4.7%) $296,310 (-4.0%) 0.00 121
    2024-09-01 $251,038 (-1.8%) $306,251 (-0.6%) 0.00 134
    2024-10-01 $255,988 (-2.5%) $312,502 (4.0%) 0.00 132
    2024-11-01 $246,839 (-7.1%) $298,295 (-1.7%) 0.00 135
    2024-12-01 $245,884 (-11.2%) $286,038 (-5.2%) 0.00 129
    2025-01-01 $240,975 (-12.0%) $303,847 (1.0%) 0.00 117
    Gaffney's median listing price for 2025-01-01 was $240,975, a difference of $-32,700 (-12.0%) versus the prior year and $-4,909 versus the prior month.

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

    Gaffney's average listing price for 2025-01-01 was $303,847, a difference of $2,925 (1.0%) versus the prior year and $17,809 versus the prior month.

    For the 2025-01-01 period, Gaffney had 117 MLS listings, a difference of -12 listings (-9%) versus the prior month and 14 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Gaffney (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,680 sqft
    2018-02-01 0 days 1,719 sqft
    2018-03-01 0 days 1,836 sqft
    2018-04-01 0 days 1,794 sqft
    2018-05-01 0 days 1,871 sqft
    2018-06-01 0 days 1,904 sqft
    2018-07-01 0 days 1,865 sqft
    2018-08-01 0 days 1,812 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,746 sqft
    2018-11-01 0 days 1,863 sqft
    2018-12-01 0 days 1,715 sqft
    2019-01-01 0 days 1,692 sqft
    2019-02-01 0 days 1,836 sqft
    2019-03-01 0 days 1,893 sqft
    2019-04-01 0 days 1,865 sqft
    2019-05-01 0 days 1,810 sqft
    2019-06-01 0 days 1,750 sqft
    2019-07-01 0 days 1,839 sqft
    2019-08-01 0 days 1,834 sqft
    2019-09-01 0 days 1,897 sqft
    2019-10-01 0 days 1,927 sqft
    2019-11-01 0 days 1,900 sqft
    2019-12-01 0 days 1,808 sqft
    2020-01-01 0 days 1,809 sqft
    2020-02-01 0 days 1,800 sqft
    2020-03-01 0 days 1,724 sqft
    2020-04-01 0 days 1,806 sqft
    2020-05-01 0 days 1,777 sqft
    2020-06-01 0 days 1,573 sqft
    2020-07-01 0 days 1,539 sqft
    2020-08-01 0 days 1,505 sqft
    2020-09-01 0 days 1,552 sqft
    2020-10-01 0 days 1,558 sqft
    2020-11-01 0 days 1,715 sqft
    2020-12-01 0 days 1,814 sqft
    2021-01-01 0 days 1,751 sqft
    2021-02-01 0 days 1,626 sqft
    2021-03-01 0 days 1,756 sqft
    2021-04-01 0 days 1,721 sqft
    2021-05-01 0 days 1,519 sqft
    2021-06-01 0 days 1,590 sqft
    2021-07-01 0 days 1,625 sqft
    2021-08-01 0 days 1,909 sqft
    2021-09-01 0 days 1,560 sqft
    2021-10-01 0 days 1,747 sqft
    2021-11-01 0 days 1,704 sqft
    2021-12-01 0 days 1,785 sqft
    2022-01-01 0 days 1,510 sqft
    2022-02-01 0 days 1,738 sqft
    2022-03-01 0 days 1,717 sqft
    2022-04-01 0 days 1,691 sqft
    2022-05-01 0 days 1,691 sqft
    2022-06-01 0 days 1,713 sqft
    2022-07-01 0 days 1,837 sqft
    2022-08-01 0 days 1,770 sqft
    2022-09-01 0 days 1,770 sqft
    2022-10-01 0 days 1,770 sqft
    2022-11-01 0 days 1,761 sqft
    2022-12-01 0 days 1,761 sqft
    2023-01-01 0 days 1,751 sqft
    2023-02-01 0 days 1,770 sqft
    2023-03-01 0 days 1,751 sqft
    2023-04-01 0 days 1,751 sqft
    2023-05-01 0 days 1,678 sqft
    2023-06-01 0 days 1,780 sqft
    2023-07-01 0 days 1,759 sqft
    2023-08-01 0 days 1,684 sqft
    2023-09-01 0 days 1,684 sqft
    2023-10-01 0 days 1,588 sqft
    2023-11-01 0 days 1,588 sqft
    2023-12-01 0 days 1,583 sqft
    2024-01-01 0 days 1,597 sqft
    2024-02-01 0 days 1,529 sqft
    2024-03-01 0 days 1,586 sqft
    2024-04-01 0 days 1,680 sqft
    2024-05-01 0 days 1,768 sqft
    2024-06-01 0 days 1,682 sqft
    2024-07-01 0 days 1,682 sqft
    2024-08-01 0 days 1,639 sqft
    2024-09-01 0 days 1,595 sqft
    2024-10-01 0 days 1,610 sqft
    2024-11-01 0 days 1,588 sqft
    2024-12-01 0 days 1,582 sqft
    2025-01-01 0 days 1,586 sqft
    Gaffney's median listing age (time on market) for 2025-01-01 was 0 days.

    Gaffney's median square footage for active listings during the 2025-01-01 period was 1,586 sqft. One year prior, the average listing was 1,597 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.