Greenwood VA Loan Rates, Closing Costs & Stats

Greenwood, 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.

    Greenwood's 43 lenders originated 95 VA loans during 2023. The total origination value was $23,735,000, with an average VA loan value of $249,842.

    Greenwood VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Greenwood averaged 6.44% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Greenwood's average VA mortgage closing costs are $5,724.

    The average rate for the prior week (2024-11-01) was 6.6% and one month ago for the week of 2024-10-04, the average rate was 5.63%.

    The average rate one year ago was 7.58%.

    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.

    Greenwood 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 Greenwood level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 9 6.55% $4,244
    ACOPIA, LLC 9 6.64% $4,564
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 8 6.44% $6,375
    QUICKEN LOANS, LLC 8 5.93% $11,892
    DHI MORTGAGE COMPANY, LTD. 5 5.20% $4,080
    NEW DAY FINANCIAL, LLC 4 7.02% $11,553
    UNION HOME MORTGAGE CORP. 4 5.97% $9,057
    UNITED WHOLESALE MORTGAGE, LLC 3 6.71% $5,144
    CHURCHILL MORTGAGE CORPORATION 2 6.00% $5,023
    CROSSCOUNTRY MORTGAGE, LLC 2 5.88% $2,400
    FREEDOM MORTGAGE CORPORATION 2 6.50% $11,322
    LOANDEPOT.COM, LLC 2 6.31% $6,038
    NAVY FEDERAL CREDIT UNION 2 5.94% $5,070
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.99% $12,431
    CAPITAL CENTER, L.L.C. 1 7.00% $4,160
    First-Citizens Bank & Trust Company 1 5.88% $10,484
    Flagstar Bank, FSB 1 6.13% $11,397
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.13% $3,423
    HOMESTAR FINANCIAL CORPORATION 1 6.75% $5,087
    AMERICAN FINANCING CORPORATION 1 6.25% $16,599
    Magnolia Bank 1 6.25% $21,275
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.25% $5,815
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $5,588
    MOVEMENT MORTGAGE, LLC 1 7.13% $3,388
    Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $10,360
    Nations Lending Corporation 1 6.25% $11,122
    USAA Federal Savings Bank 1 6.50% $10,705
    Ameris Bank 1 5.75% $6,553
    NEWREZ LLC 1 6.75% $8,765
    ON Q FINANCIAL, INC. 1 6.13% $12,343
    Paramount Residential Mortgage Group, Inc. 1 7.63% $4,548
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $3,581
    PENTAGON FEDERAL CREDIT UNION 1 5.38% $3,641
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $4,730
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $4,339
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $1,501
    SENTE MORTGAGE, INC. 1 7.13% $7,667
    Sierra Pacific Mortgage Company, Inc. 1 6.63% $12,990
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $0
    Carrington Mortgage Services, LLC 1 5.13% $5,327
    CARDINAL FINANCIAL 1 7.75% $16,850
    CMG MORTGAGE, INC. 1 6.50% $5,986
    Countybank 1 6.00% $3,263

    The top Greenwood VA lender as defined by loan originations is Mortgage Research Center, LLC, with 9 VA loans originated. Their average total fees are $4,244, which is $320 lower than the next largest lender, ACOPIA, LLC.

    The lowest fee Greenwood VA lenders (with over 10 loans originated) are .

    The lowest rate Greenwood VA lenders (with over 10 loans originated) are .

    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.