Hickory VA Loan Rates, Closing Costs & Stats
HICKORY-LENOIR-MORGANTON, NC
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.
Hickory's 74 lenders originated 448 VA
loans during 2023. The total origination value was $133,420,000, with an average VA loan value of
$297,813.
Hickory VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Hickory
averaged
5.89%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
Hickory's average VA mortgage closing costs are $5,424.
The average rate for the prior week (2024-10-04) was
5.76% and
one month ago for the week of 2024-09-06, the
average rate was 5.55%.
The average rate one year ago was 7.32%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.24%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Hickory 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 Hickory level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
Mortgage Research Center, LLC
|
98
|
6.77%
|
$4,992
|
UNITED WHOLESALE MORTGAGE, LLC
|
27
|
6.12%
|
$9,512
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
26
|
6.78%
|
$6,731
|
QUICKEN LOANS, LLC
|
24
|
6.06%
|
$10,674
|
DHI MORTGAGE COMPANY, LTD.
|
17
|
5.12%
|
$3,358
|
PENNYMAC LOAN SERVICES, LLC
|
15
|
5.85%
|
$8,723
|
EAGLE HOME MORTGAGE, LLC
|
14
|
6.17%
|
$6,287
|
USAA Federal Savings Bank
|
14
|
6.05%
|
$8,714
|
NEW DAY FINANCIAL, LLC
|
13
|
7.36%
|
$11,860
|
CROSSCOUNTRY MORTGAGE, LLC
|
13
|
6.62%
|
$6,568
|
FREEDOM MORTGAGE CORPORATION
|
10
|
6.66%
|
$13,594
|
MOVEMENT MORTGAGE, LLC
|
10
|
6.75%
|
$6,906
|
NAVY FEDERAL CREDIT UNION
|
9
|
5.86%
|
$3,080
|
CARDINAL FINANCIAL
|
8
|
6.64%
|
$15,524
|
The Federal Savings Bank
|
8
|
6.36%
|
$17,304
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
8
|
6.75%
|
$6,471
|
LOANDEPOT.COM, LLC
|
6
|
6.58%
|
$10,546
|
INTERCOASTAL MORTGAGE COMPANY
|
5
|
6.15%
|
$16,861
|
INSPIRE HOME LOANS INC.
|
5
|
6.65%
|
$6,311
|
Alcova Mortgage LLC
|
5
|
6.55%
|
$6,147
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
4
|
7.03%
|
$10,428
|
BROKER SOLUTIONS, INC.
|
4
|
6.68%
|
$10,297
|
Truist
|
4
|
6.29%
|
$3,631
|
Wells Fargo Bank
|
3
|
6.42%
|
$3,329
|
UNION HOME MORTGAGE CORP.
|
3
|
6.50%
|
$19,349
|
NEWREZ LLC
|
3
|
7.08%
|
$9,253
|
Barrington Bank & Trust Company, N.A.
|
3
|
6.08%
|
$8,395
|
Mid-Continent Funding, Inc.
|
3
|
6.67%
|
$8,695
|
Mr. Cooper ( Nationstar Mortgage )
|
3
|
5.92%
|
$13,976
|
GUARANTEED RATE, INC.
|
3
|
6.29%
|
$2,338
|
RELIANCE FIRST CAPITAL, LLC
|
2
|
7.19%
|
$4,863
|
Equity Prime Mortgage LLC
|
2
|
7.25%
|
$9,493
|
PENTAGON FEDERAL CREDIT UNION
|
2
|
5.00%
|
$16,268
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
2
|
6.19%
|
$9,500
|
GoPrime Mortgage, Inc.
|
2
|
6.50%
|
$4,981
|
AMERICAN FINANCIAL NETWORK, INC.
|
2
|
6.00%
|
$11,783
|
American Security Mortgage Corp.
|
2
|
6.31%
|
$5,752
|
Renasant Bank
|
2
|
6.37%
|
$7,391
|
AMERISAVE MORTGAGE CORPORATION
|
2
|
5.44%
|
$12,509
|
GUILD MORTGAGE COMPANY
|
2
|
5.88%
|
$9,343
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
6.58%
|
$3,990
|
AMCAP MORTGAGE, LTD.
|
1
|
7.13%
|
$3,872
|
AMERICAN FINANCING CORPORATION
|
1
|
5.75%
|
$28,840
|
Bank of America
|
1
|
7.25%
|
$8,453
|
Century Mortgage Company DBA Century Lending Company
|
1
|
6.25%
|
$10,439
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
6.75%
|
$9,112
|
CONTOUR MORTGAGE CORPORATION
|
1
|
6.25%
|
$13,432
|
EMM LOANS LLC
|
1
|
6.38%
|
$9,183
|
Fifth Third Bank
|
1
|
6.13%
|
$2,750
|
First Federal Bank
|
1
|
5.38%
|
$0
|
First Heritage Mortgage, LLC
|
1
|
6.25%
|
$18,763
|
First Savings Bank
|
1
|
6.75%
|
$24,131
|
GENEVA FINANCIAL, LLC
|
1
|
6.13%
|
$585
|
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION
|
1
|
6.25%
|
$11,135
|
HOWARD HANNA FINANCIAL SERVICES, INC.
|
1
|
6.13%
|
$8,832
|
LADERA LENDING, INC.
|
1
|
6.63%
|
$26,937
|
MORTGAGE INVESTORS GROUP, INC.
|
1
|
6.99%
|
$6,075
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
1
|
7.75%
|
$0
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
6.50%
|
$4,913
|
NBKC BANK
|
1
|
6.13%
|
$7,649
|
NETWORK CAPITAL FUNDING CORPORATION
|
1
|
5.75%
|
$9,750
|
NFM, INC.
|
1
|
6.25%
|
$13,627
|
Northpointe Bank
|
1
|
6.25%
|
$3,877
|
Plains Commerce Bank
|
1
|
6.38%
|
$6,660
|
Platinum Home Mortgage Corporation
|
1
|
6.75%
|
$2,767
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
5.75%
|
$11,192
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
6.00%
|
$3,412
|
SeaTrust Mortgage Company
|
1
|
6.13%
|
$2,944
|
Strong Home Mortgage, LLC
|
1
|
6.00%
|
$8,005
|
SUCCESS MORTGAGE PARTNERS, INC.
|
1
|
6.63%
|
$16,824
|
SUMMIT FUNDING, INC.
|
1
|
6.75%
|
$17,094
|
ACADEMY MORTGAGE CORPORATION
|
1
|
5.88%
|
$4,626
|
U.S. Bank
|
1
|
6.99%
|
$7,831
|
VILLAGE CAPITAL MORTGAGE
|
1
|
7.25%
|
$5,336
|
The top Hickory VA lender as defined by loan originations is Mortgage Research Center, LLC, with
98 VA loans originated. Their average total fees are
$4,992, which is $4,520
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Hickory VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($3,358), Mortgage Research Center, LLC ($4,992), EAGLE HOME MORTGAGE, LLC ($6,287), CROSSCOUNTRY MORTGAGE, LLC ($6,568) and ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,731).
The lowest rate Hickory VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.12%), PENNYMAC LOAN SERVICES, LLC (5.85%), USAA Federal Savings Bank (6.05%), QUICKEN LOANS, LLC (6.06%) and UNITED WHOLESALE MORTGAGE, LLC (6.12%).
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.