Hickory VA Loans

HICKORY-LENOIR-MORGANTON, 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 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 117 lenders originated 1,188 VA loans during 2021. The total origination value was $284,620,000, with an average VA loan value of $239,579.

    Hickory VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hickory averaged 5.68% for the week of 2022-05-20, compared to the national average (all VA variants) of 5.143% for the same period.

    The average rate for the prior week (2022-05-13) was 5.39% and one month ago for the week of 2022-04-15, the average rate was 5.15%.

    The average rate one year ago was 3.35%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.54%.

    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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Hickory level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 118 2.85% $5,333
    QUICKEN LOANS, LLC 111 2.53% $4,592
    FREEDOM MORTGAGE CORPORATION 87 2.47% $2,326
    PENNYMAC LOAN SERVICES, LLC 57 2.40% $4,376
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 49 2.97% $4,800
    MOVEMENT MORTGAGE, LLC 43 2.82% $4,814
    NEW DAY FINANCIAL, LLC 38 2.83% $7,460
    NAVY FEDERAL CREDIT UNION 32 2.51% $4,202
    LOANDEPOT.COM, LLC 27 2.57% $6,212
    USAA Federal Savings Bank 25 2.90% $5,936
    LAKEVIEW LOAN SERVICING, LLC 22 2.50% $2,421
    VILLAGE CAPITAL & INVESTMENT LLC 21 2.35% $2,640
    UNITED WHOLESALE MORTGAGE, LLC 21 2.57% $5,766
    CERTAINTY HOME LOANS, LLC 15 3.39% $4,800
    Wells Fargo Bank 15 2.57% $5,004
    CLEARPATH LENDING 14 2.17% $3,341
    Truist Bank 14 2.74% $4,046
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 13 3.25% $7,482
    CROSSCOUNTRY MORTGAGE, LLC 13 3.21% $4,682
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 3.20% $4,990
    Alcova Mortgage LLC 13 2.86% $6,281
    Mr. Cooper ( Nationstar Mortgage ) 12 3.20% $3,438
    CALIBER HOME LOANS, INC. 11 2.74% $4,096
    The Federal Savings Bank 11 2.50% $6,611
    AMERICAN FINANCIAL NETWORK, INC. 11 2.56% $6,523
    HOMESIDE FINANCIAL, LLC 10 2.84% $5,245
    Mid-Continent Funding, Inc. 10 2.81% $5,973
    Low VA Rates, LLC 8 2.33% $3,846
    NEWREZ LLC 8 2.67% $5,036
    HOME POINT FINANCIAL CORPORATION 8 2.47% $5,857
    AMERIFIRST FINANCIAL CORPORATION 8 3.67% $6,862
    Magnolia Bank 7 2.63% $10,135
    INTERCOASTAL MORTGAGE COMPANY 7 2.75% $9,821
    Barrington Bank & Trust Company, N.A. 7 2.59% $3,713
    First-Citizens Bank & Trust Company 6 2.54% $6,554
    GUARANTEED RATE, INC. 6 2.71% $5,672
    InterContinental Capital Group, Inc 6 2.85% $4,399
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.40% $5,045
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 3.28% $5,764
    PENTAGON FEDERAL CREDIT UNION 5 2.25% $1,182
    PLANET HOME LENDING, LLC 4 2.41% $4,002
    Nations Lending Corporation 4 2.78% $9,759
    NBKC BANK 4 2.50% $2,317
    AMERISAVE MORTGAGE CORPORATION 4 2.38% $5,138
    CMG MORTGAGE, INC. 4 2.38% $4,613
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.34% $5,538
    LOANPAL, LLC 4 2.75% $7,658
    GUARANTEED RATE AFFINITY, LLC 3 2.38% $6,022
    Citizens Bank 3 2.83% $13,416
    MCLEAN MORTGAGE CORPORATION 3 2.42% $4,213
    RELIANCE FIRST CAPITAL, LLC 3 2.92% $7,863
    GUILD MORTGAGE COMPANY 3 2.71% $7,739
    Carrington Mortgage Services, LLC 3 3.92% $1,698
    First Mortgage Solutions, LLC 2 2.31% $8,202
    First Guaranty Mortgage Corporation 2 2.56% $1,961
    American Security Mortgage Corp. 2 2.69% $6,643
    SOUTHERN TRUST MORTGAGE, LLC 2 2.50% $3,218
    Renasant Bank 2 2.81% $6,061
    Colten Mortgage, LLC 2 3.44% $7,334
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.19% $5,857
    FAMILY FIRST FUNDING LLC 2 3.50% $4,131
    PNC Bank 2 3.00% $6,343
    Paramount Residential Mortgage Group, Inc. 2 2.63% $6,040
    Uwharrie Bank 2 2.50% $3,137
    GENEVA FINANCIAL, LLC 2 3.19% $3,763
    CAPITAL CENTER, L.L.C. 2 2.75% $88
    Flagstar Bank, FSB 2 2.75% $1,490
    First Savings Bank 2 3.19% $6,244
    SUN WEST MORTGAGE COMPANY, INC. 2 3.25% $5,401
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.38% $2,665
    AMERICAN FINANCING CORPORATION 1 2.75% $1,734
    Arvest Bank 1 2.75% $7,852
    Bank of England 1 3.13% $8,001
    Bank of Springfield 1 2.25% $2,508
    Blue Ridge Bank 1 2.50% $2,869
    BNC National Bank 1 2.13% $2,870
    BROKER SOLUTIONS, INC. 1 4.00% $11,749
    Capital Bank 1 2.25% $15,640
    C & F Mortgage Corporation 1 3.25% $5,250
    Christensen Financial, Inc. 1 3.13% $4,827
    CIS Financial Services, Inc. 1 3.13% $13,293
    CONTOUR MORTGAGE CORPORATION 1 2.25% $3,539
    ENVOY MORTGAGE, LTD 1 4.50% $4,598
    First Federal Bank 1 2.75% $16,105
    First Heritage Mortgage, LLC 1 3.25% $11,566
    First Horizon Bank 1 2.38% $2,106
    Gateway First Bank 1 3.13% $17,948
    GoPrime Mortgage, Inc. 1 3.75% $7,734
    GUARANTY HOME MORTGAGE CORPORATION 1 2.63% $8,749
    HOMESTAR FINANCIAL CORPORATION 1 2.88% $10,594
    INSPIRE HOME LOANS INC. 1 3.00% $1,070
    KELLER MORTGAGE, LLC 1 3.13% $6,985
    LAND HOME FINANCIAL SERVICES, INC. 1 3.25% $9,391
    LENDUS, LLC 1 2.25% $1,641
    Meridian Bank Corporation 1 3.13% $8,548
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $554
    ACCELERATE MORTGAGE, LLC 1 2.75% $22,823
    NATIONWIDE MORTGAGE BANKERS, INC. 1 2.50% $3,269
    NFM, INC. 1 3.13% $4,439
    Northpointe Bank 1 3.00% $9,339
    NP, Inc. 1 2.88% $0
    Presidential Bank, FSB 1 2.75% $3,128
    RADIUS FINANCIAL GROUP INC. 1 4.25% $2,179
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.75% $2,629
    South State Bank 1 2.50% $12,958
    SOUTHWEST STAGE FUNDING, LLC 1 2.75% $2,754
    Stifel Bank and Trust 1 2.75% $1,011
    Sunflower Bank 1 2.25% $3,756
    Texana Bank 1 2.25% $2,469
    TIDEWATER MORTGAGE SERVICES, INC. 1 3.00% $4,181
    TJC Mortgage, Inc. 1 2.88% $15,937
    Towne Bank 1 2.88% $4,323
    TOWNE MORTGAGE COMPANY 1 2.88% $11,015
    Union Savings Bank 1 2.25% $0
    U.S. Bank 1 2.63% $2,065
    VAN DYK MORTGAGE CORPORATION 1 2.75% $4,048
    Wyndham Capital Mortgage, Inc. 1 2.25% $1,597

    The top Hickory VA lender as defined by loan originations is Mortgage Research Center, LLC, with 118 VA loans originated. Their average total fees are $5,333, which is $741 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hickory VA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($2,326), LAKEVIEW LOAN SERVICING, LLC ($2,421), VILLAGE CAPITAL & INVESTMENT LLC ($2,640), CLEARPATH LENDING ($3,341) and Mr. Cooper ( Nationstar Mortgage ) ($3,438).

    The lowest rate Hickory VA lenders (with over 10 loans originated) are CLEARPATH LENDING (2.17%), VILLAGE CAPITAL & INVESTMENT LLC (2.35%), PENNYMAC LOAN SERVICES, LLC (2.40%), FREEDOM MORTGAGE CORPORATION (2.47%) and The Federal Savings Bank (2.50%).

    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.