Hickory VA Loan Rates, Closing Costs & Stats

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 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 6.79% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Hickory's average VA mortgage closing costs are $5,424.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.49%.

    The average rate one year ago was 5.98%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.05%.

    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%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hickory (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $228,750 (27.6%) $314,555 (18.2%) 0.85 1,032
    2018-02-01 $231,950 (26.1%) $322,291 (18.3%) 0.84 1,095
    2018-03-01 $246,398 (28.4%) $343,090 (22.6%) 0.86 1,058
    2018-04-01 $253,655 (23.7%) $349,105 (21.2%) 0.86 1,118
    2018-05-01 $256,880 (19.5%) $353,026 (20.5%) 0.86 1,112
    2018-06-01 $259,900 (19.8%) $358,282 (17.6%) 0.87 1,122
    2018-07-01 $249,875 (13.6%) $351,641 (13.3%) 0.83 1,204
    2018-08-01 $245,250 (9.0%) $352,312 (14.4%) 0.82 1,236
    2018-09-01 $238,950 (6.2%) $338,587 (8.1%) 0.80 1,283
    2018-10-01 $237,900 (4.9%) $336,271 (7.1%) 0.81 1,287
    2018-11-01 $248,000 (5.6%) $338,742 (6.3%) 0.84 1,219
    2018-12-01 $249,000 (6.0%) $338,339 (6.7%) 0.86 1,149
    2019-01-01 $249,900 (9.3%) $344,359 (9.5%) 0.86 1,005
    2019-02-01 $249,950 (7.8%) $340,334 (5.6%) 0.84 989
    2019-03-01 $265,543 (7.8%) $356,181 (3.8%) 0.87 925
    2019-04-01 $279,800 (10.3%) $377,124 (8.0%) 0.89 866
    2019-05-01 $299,250 (16.5%) $391,935 (11.0%) 0.94 861
    2019-06-01 $299,000 (15.0%) $398,138 (11.1%) 0.93 872
    2019-07-01 $297,750 (19.2%) $394,532 (12.2%) 0.93 884
    2019-08-01 $295,486 (20.5%) $392,056 (11.3%) 0.94 872
    2019-09-01 $289,841 (21.3%) $385,679 (13.9%) 0.93 851
    2019-10-01 $280,225 (17.8%) $377,986 (12.4%) 0.90 845
    2019-11-01 $269,900 (8.8%) $365,745 (8.0%) 0.88 840
    2019-12-01 $274,900 (10.4%) $369,415 (9.2%) 0.92 777
    2020-01-01 $267,450 (7.0%) $372,224 (8.1%) 0.89 702
    2020-02-01 $260,000 (4.0%) $370,519 (8.9%) 0.85 686
    2020-03-01 $259,950 (-2.1%) $361,376 (1.5%) 0.81 677
    2020-04-01 $263,675 (-5.8%) $357,475 (-5.2%) 0.83 669
    2020-05-01 $269,900 (-9.8%) $373,722 (-4.7%) 0.82 589
    2020-06-01 $279,450 (-6.5%) $389,848 (-2.1%) 0.82 528
    2020-07-01 $299,500 (0.6%) $396,934 (0.6%) 0.87 490
    2020-08-01 $310,000 (4.9%) $406,247 (3.6%) 0.89 443
    2020-09-01 $299,175 (3.2%) $407,475 (5.7%) 0.86 513
    2020-10-01 $309,900 (10.6%) $413,087 (9.3%) 0.89 425
    2020-11-01 $299,950 (11.1%) $417,807 (14.2%) 0.88 438
    2020-12-01 $294,450 (7.1%) $412,280 (11.6%) 0.88 412
    2021-01-01 $285,000 (6.6%) $421,957 (13.4%) 0.85 366
    2021-02-01 $259,950 (0.0%) $414,807 (12.0%) 0.76 324
    2021-03-01 $264,500 (1.8%) $414,911 (14.8%) 0.75 287
    2021-04-01 $264,700 (0.4%) $416,582 (16.5%) 0.72 281
    2021-05-01 $264,950 (-1.8%) $433,273 (15.9%) 0.70 297
    2021-06-01 $267,750 (-4.2%) $428,482 (9.9%) 0.70 342
    2021-07-01 $275,000 (-8.2%) $410,979 (3.5%) 0.73 393
    2021-08-01 $270,600 (-12.7%) $391,978 (-3.5%) 0.72 402
    2021-09-01 $272,500 (-8.9%) $401,846 (-1.4%) 0.73 406
    2021-10-01 $269,900 (-12.9%) $405,718 (-1.8%) 0.72 377
    2021-11-01 $281,950 (-6.0%) $407,596 (-2.4%) 0.75 356
    2021-12-01 $277,400 (-5.8%) $417,883 (1.4%) 0.75 311
    2022-01-01 $296,700 (4.1%) $438,266 (3.9%) 0.80 253
    2022-02-01 $294,350 (13.2%) $427,885 (3.2%) 0.77 233
    2022-03-01 $311,175 (17.7%) $432,407 (4.2%) 0.78 254
    2022-04-01 $300,000 (13.3%) $450,281 (8.1%) 0.72 249
    2022-05-01 $317,450 (19.8%) $486,863 (12.4%) 0.73 336
    2022-06-01 $326,500 (21.9%) $483,176 (12.8%) 0.73 384
    2022-07-01 $339,900 (23.6%) $477,571 (16.2%) 0.77 465
    2022-08-01 $346,145 (27.9%) $478,147 (22.0%) 0.80 505
    2022-09-01 $339,675 (24.7%) $482,555 (20.1%) 0.79 503
    2022-10-01 $339,900 (25.9%) $477,720 (17.8%) 0.80 520
    2022-11-01 $340,773 (20.9%) $466,358 (14.4%) 0.82 573
    2022-12-01 $329,900 (18.9%) $464,150 (11.1%) 0.81 528
    2023-01-01 $343,395 (15.7%) $475,266 (8.4%) 0.85 483
    2023-02-01 $349,900 (18.9%) $480,283 (12.3%) 0.84 438
    2023-03-01 $349,450 (12.3%) $486,667 (12.6%) 0.82 440
    2023-04-01 $369,900 (23.3%) $509,681 (13.2%) 0.86 449
    2023-05-01 $376,252 (18.5%) $523,504 (7.5%) 0.85 489
    2023-06-01 $385,000 (17.9%) $524,757 (8.6%) 0.87 482
    2023-07-01 $373,540 (9.9%) $514,800 (7.8%) 0.85 497
    2023-08-01 $369,900 (6.9%) $504,256 (5.5%) 0.85 552
    2023-09-01 $360,000 (6.0%) $506,685 (5.0%) 0.84 590
    2023-10-01 $349,950 (3.0%) $505,553 (5.8%) 0.82 601
    2023-11-01 $348,750 (2.3%) $492,779 (5.7%) 0.83 647
    2023-12-01 $349,900 (6.1%) $498,989 (7.5%) 0.85 676
    2024-01-01 $349,900 (1.9%) $482,637 (1.6%) 0.85 632
    2024-02-01 $358,066 (2.3%) $496,559 (3.4%) 0.86 602
    2024-03-01 $359,900 (3.0%) $505,788 (3.9%) 0.85 637
    Hickory's median listing price for 2024-03-01 was $359,900, a difference of $10,450 (3.0%) versus the prior year and $1,834 versus the prior month.

    Hickory's median listing price comes in at 85% of the national average.

    Hickory's average listing price for 2024-03-01 was $505,788, a difference of $19,121 (3.9%) versus the prior year and $9,229 versus the prior month.

    For the 2024-03-01 period, Hickory had 637 MLS listings, a difference of 35 listings (6%) versus the prior month and 197 listings (45%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hickory (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 104 days 2,091 sqft
    2018-02-01 86 days 2,076 sqft
    2018-03-01 73 days 2,123 sqft
    2018-04-01 63 days 2,151 sqft
    2018-05-01 61 days 2,183 sqft
    2018-06-01 64 days 2,104 sqft
    2018-07-01 65 days 2,082 sqft
    2018-08-01 67 days 2,100 sqft
    2018-09-01 73 days 2,031 sqft
    2018-10-01 81 days 2,082 sqft
    2018-11-01 88 days 2,069 sqft
    2018-12-01 95 days 2,052 sqft
    2019-01-01 97 days 2,071 sqft
    2019-02-01 92 days 2,012 sqft
    2019-03-01 80 days 2,123 sqft
    2019-04-01 72 days 2,207 sqft
    2019-05-01 65 days 2,274 sqft
    2019-06-01 63 days 2,332 sqft
    2019-07-01 64 days 2,282 sqft
    2019-08-01 62 days 2,249 sqft
    2019-09-01 65 days 2,230 sqft
    2019-10-01 66 days 2,183 sqft
    2019-11-01 65 days 2,123 sqft
    2019-12-01 74 days 2,114 sqft
    2020-01-01 85 days 2,112 sqft
    2020-02-01 73 days 2,079 sqft
    2020-03-01 55 days 2,044 sqft
    2020-04-01 54 days 2,038 sqft
    2020-05-01 60 days 2,063 sqft
    2020-06-01 60 days 2,102 sqft
    2020-07-01 52 days 2,194 sqft
    2020-08-01 44 days 2,187 sqft
    2020-09-01 37 days 2,110 sqft
    2020-10-01 43 days 2,202 sqft
    2020-11-01 44 days 2,185 sqft
    2020-12-01 50 days 2,080 sqft
    2021-01-01 58 days 1,964 sqft
    2021-02-01 48 days 1,926 sqft
    2021-03-01 41 days 1,893 sqft
    2021-04-01 36 days 1,918 sqft
    2021-05-01 29 days 1,870 sqft
    2021-06-01 29 days 1,819 sqft
    2021-07-01 29 days 1,870 sqft
    2021-08-01 33 days 1,903 sqft
    2021-09-01 39 days 1,898 sqft
    2021-10-01 37 days 1,828 sqft
    2021-11-01 40 days 1,901 sqft
    2021-12-01 43 days 1,792 sqft
    2022-01-01 46 days 1,904 sqft
    2022-02-01 34 days 1,875 sqft
    2022-03-01 27 days 1,902 sqft
    2022-04-01 26 days 1,806 sqft
    2022-05-01 27 days 1,789 sqft
    2022-06-01 34 days 1,899 sqft
    2022-07-01 32 days 1,937 sqft
    2022-08-01 41 days 1,970 sqft
    2022-09-01 43 days 1,957 sqft
    2022-10-01 48 days 1,970 sqft
    2022-11-01 47 days 1,989 sqft
    2022-12-01 57 days 1,920 sqft
    2023-01-01 71 days 1,915 sqft
    2023-02-01 69 days 1,887 sqft
    2023-03-01 43 days 1,881 sqft
    2023-04-01 44 days 1,996 sqft
    2023-05-01 40 days 2,039 sqft
    2023-06-01 44 days 2,034 sqft
    2023-07-01 43 days 1,980 sqft
    2023-08-01 41 days 1,976 sqft
    2023-09-01 44 days 1,933 sqft
    2023-10-01 46 days 1,816 sqft
    2023-11-01 47 days 1,799 sqft
    2023-12-01 52 days 1,884 sqft
    2024-01-01 61 days 1,899 sqft
    2024-02-01 60 days 1,895 sqft
    2024-03-01 45 days 1,824 sqft
    Hickory's median listing age (time on market) for 2024-03-01 was 45 days. This is 5% longer than the same period one year ago.

    Hickory's median square footage for active listings during the 2024-03-01 period was 1,824 sqft. One year prior, the average listing was 1,881 sqft.

    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.