Hickory VA Loans
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 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.