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.