Hickory VA Loan Rates, Closing Costs & Stats

HICKORY-LENOIR-MORGANTON, NC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 6.14% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-07-12) was 6.18% and one month ago for the week of 2024-06-14, the average rate was 6.34%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.69%.

    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.