Hilton Head Island VA Loan Rates, Closing Costs & Stats

HILTON HEAD ISLAND-BLUFFTON, SC

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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.

    Hilton Head Island's 113 lenders originated 786 VA loans during 2023. The total origination value was $312,440,000, with an average VA loan value of $397,506.

    Hilton Head Island VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hilton Head Island averaged -0.05% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Hilton Head Island's average VA mortgage closing costs are $6,843.

    The average rate for the prior week (2024-11-08) was 6.66% and one month ago for the week of 2024-10-11, the average rate was 6.03%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.12%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Hilton Head Island 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 Hilton Head Island level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NAVY FEDERAL CREDIT UNION 96 5.75% $8,597
    Mortgage Research Center, LLC 61 6.59% $10,649
    Gateway First Bank 56 6.41% $9,021
    PULTE MORTGAGE LLC 50 5.94% $9,890
    MOVEMENT MORTGAGE, LLC 45 6.32% $8,796
    UNITED WHOLESALE MORTGAGE, LLC 44 6.28% $10,656
    QUICKEN LOANS, LLC 34 5.71% $11,915
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 32 6.38% $10,563
    Ameris Bank 31 5.66% $17,232
    DHI MORTGAGE COMPANY, LTD. 27 5.43% $7,067
    USAA Federal Savings Bank 16 6.00% $8,527
    LOANDEPOT.COM, LLC 12 6.17% $13,926
    BROKER SOLUTIONS, INC. 12 6.34% $12,294
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 11 6.30% $12,067
    UNION HOME MORTGAGE CORP. 11 6.92% $17,283
    GUARANTEED RATE, INC. 11 6.55% $7,997
    VANDERBILT MORTGAGE AND FINANCE, INC. 10 5.69% $10,251
    FREEDOM MORTGAGE CORPORATION 10 6.33% $15,972
    JET HOMELOANS, LLC 9 6.28% $8,126
    NEW DAY FINANCIAL, LLC 9 7.14% $14,273
    Wells Fargo Bank 9 5.63% $5,505
    SUN WEST MORTGAGE COMPANY, INC. 8 6.27% $11,390
    Prosperity Home Mortgage, LLC 6 5.65% $14,278
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.42% $9,341
    South State Bank 6 6.41% $12,002
    PENTAGON FEDERAL CREDIT UNION 5 5.08% $6,899
    AMERICAN FINANCIAL NETWORK, INC. 5 6.53% $6,923
    CMG MORTGAGE, INC. 5 6.70% $9,862
    HALLMARK HOME MORTGAGE, LLC 5 6.52% $13,766
    INSPIRE HOME LOANS INC. 4 5.53% $9,756
    NEWREZ LLC 4 6.13% $5,223
    AMERISAVE MORTGAGE CORPORATION 4 5.53% $19,811
    The Federal Savings Bank 4 6.69% $19,988
    INTERCOASTAL MORTGAGE COMPANY 3 6.58% $6,084
    Northpointe Bank 2 6.19% $4,570
    HOMESIDE FINANCIAL, LLC 2 6.50% $15,729
    NFM, INC. 2 5.94% $13,093
    Network Funding, L.P. 2 6.19% $26,814
    CARDINAL FINANCIAL 2 5.75% $18,629
    BANKSOUTH MORTGAGE COMPANY, LLC 2 4.81% $16,431
    CROSSCOUNTRY MORTGAGE, LLC 2 6.25% $11,041
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.69% $21,208
    FBC MORTGAGE, LLC 2 7.19% $8,469
    VERITAS FUNDING, LLC 2 6.75% $21,659
    Equity Prime Mortgage LLC 2 6.38% $14,334
    EVERETT FINANCIAL, INC. 2 6.75% $12,357
    PLANET HOME LENDING, LLC 2 5.25% $4,648
    Plains Commerce Bank 2 5.94% $8,730
    PLAZA HOME MORTGAGE, INC. 2 6.75% $10,509
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.38% $12,610
    PENNYMAC LOAN SERVICES, LLC 2 6.38% $8,347
    RELIANCE FIRST CAPITAL, LLC 2 6.75% $11,081
    Renasant Bank 2 6.37% $9,771
    George Mason Mortgage, LLC 2 6.31% $8,473
    GMFS LLC 2 5.50% $8,579
    NTFN, INC. 2 6.50% $12,990
    VILLAGE CAPITAL MORTGAGE 1 5.75% $11,470
    NBKC BANK 1 5.38% $8,733
    ALAMEDA MORTGAGE CORPORATION 1 6.75% $8,792
    Alcova Mortgage LLC 1 6.25% $10,934
    AMERICAN INTERNET MORTGAGE, INC. 1 5.13% $12,035
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.00% $33,711
    American Security Mortgage Corp. 1 7.25% $7,586
    Assurance Financial Group, L.L.C. 1 5.25% $12,842
    Bank of England 1 6.25% $15,856
    Barrington Bank & Trust Company, N.A. 1 5.75% $12,650
    Capital Bank 1 5.99% $6,226
    Colony Bank 1 6.88% $10,604
    CONTOUR MORTGAGE CORPORATION 1 5.75% $13,981
    DAS Acquisition Company, LLC 1 7.13% $18,441
    DELMAR FINANCIAL COMPANY 1 5.75% $0
    EAGLE HOME MORTGAGE, LLC 1 5.75% $2,022
    East Coast Capital Corp. 1 5.63% $18,262
    EMBRACE HOME LOANS, INC. 1 6.49% $9,298
    Encompass Lending Group, LP 1 6.38% $4,594
    Farmers Bank & Trust 1 5.75% $12,439
    FIDELITY BANK 1 6.25% $15,968
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $15,017
    First Federal Bank 1 7.00% $3,432
    FIRST HERITAGE FINANCIAL, LLC 1 6.75% $19,392
    First Heritage Mortgage, LLC 1 6.13% $11,666
    Flagstar Bank, FSB 1 6.75% $3,405
    GENEVA FINANCIAL, LLC 1 6.25% $19,630
    HOMESTAR FINANCIAL CORPORATION 1 6.63% $13,226
    KELLER MORTGAGE, LLC 1 5.00% $12,680
    Keystone Funding, Inc. 1 7.00% $5,700
    LADERA LENDING, INC. 1 6.75% $26,867
    Leader Bank 1 5.25% $9,990
    Magnolia Bank 1 6.62% $20,628
    Mid-Continent Funding, Inc. 1 6.25% $12,844
    MIDLAND MORTGAGE CORPORATION 1 5.75% $10,083
    MORTGAGE EQUITY PARTNERS LLC 1 7.63% $7,232
    MORTGAGEONE, INC. 1 7.63% $11,483
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.38% $16,548
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $11,035
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $11,238
    NBH Bank 1 6.49% $6,810
    ACADEMY MORTGAGE CORPORATION 1 7.25% $9,277
    Paramount Bank 1 5.75% $9,496
    Paramount Residential Mortgage Group, Inc. 1 6.50% $4,598
    Residential Mortgage Solutions, Inc. 1 6.25% $5,650
    ROYAL UNITED MORTGAGE LLC 1 6.75% $14,273
    Sandy Spring Bank 1 7.00% $10,744
    SWBC MORTGAGE CORPORATION 1 7.25% $7,925
    TBI MORTGAGE COMPANY 1 5.25% $14,834
    The Central Trust Bank 1 6.25% $9,797
    The Loan Store, Inc. 1 7.25% $13,947
    TIDEWATER MORTGAGE SERVICES, INC. 1 5.75% $10,334
    TJC Mortgage, Inc. 1 6.63% $18,515
    TOWNE MORTGAGE COMPANY 1 6.88% $8,262
    Truist 1 6.60% $4,112
    United Community Bank 1 6.50% $18,273
    Victorian Finance, LLC 1 6.25% $5,740

    The top Hilton Head Island VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with 96 VA loans originated. Their average total fees are $8,597, which is $2,052 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Hilton Head Island VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,067), GUARANTEED RATE, INC. ($7,997), USAA Federal Savings Bank ($8,527), NAVY FEDERAL CREDIT UNION ($8,597) and MOVEMENT MORTGAGE, LLC ($8,796).

    The lowest rate Hilton Head Island VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.43%), Ameris Bank (5.66%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.69%), QUICKEN LOANS, LLC (5.71%) and NAVY FEDERAL CREDIT UNION (5.75%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hilton Head Island (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 $399,000 (0.5%) $582,890 (1.5%) 1.48 2,619
    2018-02-01 $399,900 (0.2%) $589,915 (2.6%) 1.45 2,733
    2018-03-01 $413,433 (3.6%) $604,551 (4.9%) 1.45 2,799
    2018-04-01 $421,950 (5.8%) $622,378 (6.4%) 1.43 2,945
    2018-05-01 $419,000 (4.8%) $627,059 (5.7%) 1.40 2,956
    2018-06-01 $419,500 (2.6%) $626,474 (3.7%) 1.40 2,967
    2018-07-01 $424,019 (3.4%) $626,343 (3.7%) 1.42 2,927
    2018-08-01 $426,242 (4.1%) $637,991 (6.7%) 1.43 2,777
    2018-09-01 $419,000 (1.0%) $625,990 (5.1%) 1.41 2,908
    2018-10-01 $426,000 (3.0%) $644,773 (9.0%) 1.44 2,889
    2018-11-01 $425,000 (6.3%) $643,945 (10.3%) 1.44 2,918
    2018-12-01 $425,000 (6.5%) $647,340 (11.1%) 1.47 2,822
    2019-01-01 $425,000 (6.5%) $642,125 (10.2%) 1.47 2,805
    2019-02-01 $425,000 (6.3%) $639,931 (8.5%) 1.44 2,843
    2019-03-01 $424,243 (2.6%) $643,930 (6.5%) 1.39 2,925
    2019-04-01 $432,400 (2.5%) $659,020 (5.9%) 1.37 2,994
    2019-05-01 $439,450 (4.9%) $671,827 (7.1%) 1.37 2,989
    2019-06-01 $443,495 (5.7%) $673,962 (7.6%) 1.39 2,869
    2019-07-01 $435,000 (2.6%) $657,348 (5.0%) 1.36 2,858
    2019-08-01 $434,727 (2.0%) $658,280 (3.2%) 1.38 2,838
    2019-09-01 $434,318 (3.7%) $659,134 (5.3%) 1.39 2,780
    2019-10-01 $436,878 (2.6%) $663,724 (2.9%) 1.41 2,724
    2019-11-01 $435,000 (2.4%) $669,793 (4.0%) 1.43 2,681
    2019-12-01 $429,000 (0.9%) $664,157 (2.6%) 1.43 2,594
    2020-01-01 $425,000 (0.0%) $653,388 (1.8%) 1.42 2,491
    2020-02-01 $434,900 (2.3%) $662,261 (3.5%) 1.42 2,514
    2020-03-01 $435,000 (2.5%) $667,773 (3.7%) 1.36 2,581
    2020-04-01 $426,850 (-1.3%) $656,980 (-0.3%) 1.34 2,621
    2020-05-01 $425,000 (-3.3%) $664,289 (-1.1%) 1.29 2,555
    2020-06-01 $429,225 (-3.2%) $681,711 (1.2%) 1.26 2,241
    2020-07-01 $439,350 (1.0%) $697,645 (6.1%) 1.27 1,987
    2020-08-01 $434,000 (-0.2%) $708,463 (7.6%) 1.24 1,818
    2020-09-01 $415,875 (-4.3%) $720,099 (9.3%) 1.19 1,637
    2020-10-01 $400,000 (-8.4%) $723,318 (9.0%) 1.15 1,441
    2020-11-01 $412,000 (-5.3%) $748,196 (11.7%) 1.20 1,311
    2020-12-01 $415,125 (-3.2%) $768,300 (15.7%) 1.23 1,167
    2021-01-01 $440,949 (3.8%) $792,938 (21.4%) 1.32 973
    2021-02-01 $442,000 (1.6%) $813,000 (22.8%) 1.29 784
    2021-03-01 $455,000 (4.6%) $809,143 (21.2%) 1.29 692
    2021-04-01 $449,750 (5.4%) $840,260 (27.9%) 1.22 624
    2021-05-01 $473,500 (11.4%) $821,439 (23.7%) 1.26 586
    2021-06-01 $487,000 (13.5%) $830,170 (21.8%) 1.28 639
    2021-07-01 $499,000 (13.6%) $832,961 (19.4%) 1.32 686
    2021-08-01 $540,564 (24.6%) $841,071 (18.7%) 1.44 705
    2021-09-01 $512,500 (23.2%) $824,698 (14.5%) 1.37 721
    2021-10-01 $524,312 (31.1%) $857,559 (18.6%) 1.40 695
    2021-11-01 $524,700 (27.4%) $853,248 (14.0%) 1.40 597
    2021-12-01 $509,500 (22.7%) $873,876 (13.7%) 1.38 523
    2022-01-01 $499,900 (13.4%) $882,812 (11.3%) 1.35 419
    2022-02-01 $550,000 (24.4%) $918,629 (13.0%) 1.43 380
    2022-03-01 $579,950 (27.5%) $977,672 (20.8%) 1.45 370
    2022-04-01 $599,365 (33.3%) $993,575 (18.3%) 1.43 451
    2022-05-01 $650,000 (37.3%) $1,078,437 (31.3%) 1.49 604
    2022-06-01 $647,807 (33.0%) $1,072,805 (29.2%) 1.44 732
    2022-07-01 $625,000 (25.3%) $1,030,953 (23.8%) 1.41 876
    2022-08-01 $629,500 (16.5%) $1,015,593 (20.8%) 1.46 934
    2022-09-01 $642,450 (25.4%) $1,027,206 (24.6%) 1.50 935
    2022-10-01 $632,500 (20.6%) $1,007,952 (17.5%) 1.49 964
    2022-11-01 $627,408 (19.6%) $1,008,415 (18.2%) 1.51 1,047
    2022-12-01 $628,775 (23.4%) $1,005,863 (15.1%) 1.55 1,022
    2023-01-01 $624,450 (24.9%) $996,950 (12.9%) 1.55 961
    2023-02-01 $634,901 (15.4%) $1,001,611 (9.0%) 1.53 920
    2023-03-01 $649,375 (12.0%) $1,045,973 (7.0%) 1.53 885
    2023-04-01 $645,000 (7.6%) $1,047,448 (5.4%) 1.50 898
    2023-05-01 $648,875 (-0.2%) $1,039,516 (-3.6%) 1.47 889
    2023-06-01 $622,450 (-3.9%) $991,419 (-7.6%) 1.40 947
    2023-07-01 $620,000 (-0.8%) $1,008,721 (-2.2%) 1.41 1,015
    2023-08-01 $601,700 (-4.4%) $1,000,390 (-1.5%) 1.38 1,046
    2023-09-01 $599,900 (-6.6%) $980,978 (-4.5%) 1.40 1,132
    2023-10-01 $599,000 (-5.3%) $1,009,495 (0.2%) 1.41 1,253
    2023-11-01 $589,000 (-6.1%) $991,953 (-1.6%) 1.40 1,363
    2023-12-01 $571,908 (-9.0%) $980,797 (-2.5%) 1.39 1,331
    2024-01-01 $582,500 (-6.7%) $1,010,451 (1.4%) 1.42 1,302
    2024-02-01 $577,250 (-9.1%) $1,029,725 (2.8%) 1.39 1,307
    2024-03-01 $585,000 (-9.9%) $1,035,205 (-1.0%) 1.38 1,425
    2024-04-01 $599,000 (-7.1%) $1,026,719 (-2.0%) 1.39 1,504
    2024-05-01 $578,082 (-10.9%) $1,022,233 (-1.7%) 1.31 1,551
    2024-06-01 $589,950 (-5.2%) $1,014,280 (2.3%) 1.33 1,553
    2024-07-01 $575,000 (-7.3%) $966,122 (-4.2%) 1.31 1,562
    2024-08-01 $569,000 (-5.4%) $916,731 (-8.4%) 1.32 1,617
    2024-09-01 $571,500 (-4.7%) $918,722 (-6.4%) 1.34 1,645
    2024-10-01 $569,000 (-5.0%) $910,441 (-9.8%) 1.34 1,744
    Hilton Head Island's median listing price for 2024-10-01 was $569,000, a difference of $-30,000 (-5.0%) versus the prior year and $-2,500 versus the prior month.

    Hilton Head Island's median listing price comes in at 134% of the national average.

    Hilton Head Island's average listing price for 2024-10-01 was $910,441, a difference of $-99,054 (-9.8%) versus the prior year and $-8,281 versus the prior month.

    For the 2024-10-01 period, Hilton Head Island had 1,744 MLS listings, a difference of 99 listings (6%) versus the prior month and 491 listings (39%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hilton Head Island (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 103 days 2,151 sqft
    2018-02-01 102 days 2,174 sqft
    2018-03-01 78 days 2,161 sqft
    2018-04-01 68 days 2,146 sqft
    2018-05-01 74 days 2,142 sqft
    2018-06-01 78 days 2,126 sqft
    2018-07-01 85 days 2,116 sqft
    2018-08-01 89 days 2,155 sqft
    2018-09-01 94 days 2,125 sqft
    2018-10-01 92 days 2,168 sqft
    2018-11-01 88 days 2,155 sqft
    2018-12-01 93 days 2,161 sqft
    2019-01-01 101 days 2,141 sqft
    2019-02-01 103 days 2,139 sqft
    2019-03-01 95 days 2,150 sqft
    2019-04-01 85 days 2,167 sqft
    2019-05-01 91 days 2,188 sqft
    2019-06-01 94 days 2,212 sqft
    2019-07-01 103 days 2,175 sqft
    2019-08-01 106 days 2,176 sqft
    2019-09-01 112 days 2,175 sqft
    2019-10-01 107 days 2,185 sqft
    2019-11-01 98 days 2,200 sqft
    2019-12-01 97 days 2,187 sqft
    2020-01-01 102 days 2,161 sqft
    2020-02-01 104 days 2,174 sqft
    2020-03-01 83 days 2,201 sqft
    2020-04-01 81 days 2,160 sqft
    2020-05-01 89 days 2,131 sqft
    2020-06-01 98 days 2,144 sqft
    2020-07-01 94 days 2,189 sqft
    2020-08-01 71 days 2,186 sqft
    2020-09-01 67 days 2,142 sqft
    2020-10-01 65 days 2,135 sqft
    2020-11-01 66 days 2,122 sqft
    2020-12-01 74 days 2,135 sqft
    2021-01-01 79 days 2,118 sqft
    2021-02-01 67 days 2,038 sqft
    2021-03-01 52 days 2,092 sqft
    2021-04-01 44 days 2,067 sqft
    2021-05-01 43 days 2,032 sqft
    2021-06-01 38 days 1,960 sqft
    2021-07-01 46 days 1,985 sqft
    2021-08-01 50 days 2,026 sqft
    2021-09-01 49 days 1,973 sqft
    2021-10-01 57 days 2,026 sqft
    2021-11-01 59 days 1,966 sqft
    2021-12-01 64 days 1,983 sqft
    2022-01-01 74 days 1,989 sqft
    2022-02-01 46 days 2,020 sqft
    2022-03-01 33 days 2,083 sqft
    2022-04-01 31 days 2,094 sqft
    2022-05-01 32 days 2,169 sqft
    2022-06-01 33 days 2,121 sqft
    2022-07-01 41 days 2,064 sqft
    2022-08-01 50 days 2,093 sqft
    2022-09-01 56 days 2,097 sqft
    2022-10-01 60 days 2,145 sqft
    2022-11-01 58 days 2,120 sqft
    2022-12-01 65 days 2,115 sqft
    2023-01-01 75 days 2,118 sqft
    2023-02-01 72 days 2,162 sqft
    2023-03-01 56 days 2,227 sqft
    2023-04-01 52 days 2,186 sqft
    2023-05-01 50 days 2,134 sqft
    2023-06-01 52 days 2,091 sqft
    2023-07-01 52 days 2,031 sqft
    2023-08-01 53 days 1,987 sqft
    2023-09-01 56 days 1,980 sqft
    2023-10-01 53 days 1,993 sqft
    2023-11-01 56 days 1,982 sqft
    2023-12-01 66 days 1,980 sqft
    2024-01-01 79 days 2,000 sqft
    2024-02-01 70 days 1,967 sqft
    2024-03-01 51 days 1,994 sqft
    2024-04-01 51 days 1,987 sqft
    2024-05-01 51 days 1,953 sqft
    2024-06-01 60 days 1,950 sqft
    2024-07-01 71 days 1,941 sqft
    2024-08-01 73 days 1,906 sqft
    2024-09-01 72 days 1,922 sqft
    2024-10-01 71 days 1,929 sqft
    Hilton Head Island's median listing age (time on market) for 2024-10-01 was 71 days. This is 34% longer than the same period one year ago.

    Hilton Head Island's median square footage for active listings during the 2024-10-01 period was 1,929 sqft. One year prior, the average listing was 1,993 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.