Georgetown VA Loan Rates, Closing Costs & Stats

Georgetown, SC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Georgetown's 35 lenders originated 62 VA loans during 2023. The total origination value was $24,440,000, with an average VA loan value of $394,194.

    Georgetown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Georgetown averaged 6.6% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Georgetown's average VA mortgage closing costs are $6,484.

    The average rate for the prior week (2024-11-01) was 6.55% and one month ago for the week of 2024-10-04, the average rate was 5.88%.

    The average rate one year ago was 7.74%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.44%.

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

    Georgetown 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 Georgetown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 10 6.88% $5,074
    QUICKEN LOANS, LLC 7 6.07% $15,141
    Wells Fargo Bank 2 6.13% $7,636
    CMG MORTGAGE, INC. 2 7.13% $8,459
    FREEDOM MORTGAGE CORPORATION 2 6.56% $16,600
    Gateway First Bank 2 6.50% $4,383
    GUARANTEED RATE, INC. 2 6.94% $6,179
    INTERCOASTAL MORTGAGE COMPANY 2 7.44% $11,600
    MOVEMENT MORTGAGE, LLC 2 7.06% $3,238
    NEW DAY FINANCIAL, LLC 2 7.37% $8,552
    TJC Mortgage, Inc. 2 6.00% $13,014
    UNION HOME MORTGAGE CORP. 2 6.00% $10,054
    UNITED WHOLESALE MORTGAGE, LLC 2 7.06% $14,446
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $6,800
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $5,257
    Truist 1 6.75% $6,245
    Neighborhood Loans, Inc. 1 7.63% $7,302
    USAA Federal Savings Bank 1 6.00% $13,091
    PENNYMAC LOAN SERVICES, LLC 1 7.13% $28,445
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $11,807
    Plains Commerce Bank 1 5.75% $3,873
    PLANET HOME LENDING, LLC 1 5.75% $21,566
    Century Mortgage Company DBA Century Lending Company 1 6.00% $10,099
    SHELTER LENDING SERVICES, L.L.C. 1 7.25% $10,051
    SOUTHERN TRUST MORTGAGE, LLC 1 6.50% $12,325
    South State Bank 1 6.13% $11,055
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.75% $11,425
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $17,522
    First-Citizens Bank & Trust Company 1 6.75% $5,908
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $0
    SUMMIT FUNDING, INC. 1 6.75% $24,347
    Synovus Bank 1 6.75% $6,168
    INSPIRE HOME LOANS INC. 1 4.75% $9,673
    Armed Forces Bank 1 7.00% $4,276
    LOANDEPOT.COM, LLC 1 5.38% $11,628

    The top Georgetown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 10 VA loans originated. Their average total fees are $5,074, which is $10,068 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Georgetown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,074), .

    The lowest rate Georgetown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.88%), .

    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.