Hilton Head Island VA Loans

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 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 149 lenders originated 2,345 VA loans during 2021. The total origination value was $714,165,000, with an average VA loan value of $304,548.

    Hilton Head Island VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Hilton Head Island averaged 5.23% for the week of 2022-08-05, compared to the national average (all VA variants) of 5.013% for the same period.

    The average rate for the prior week (2022-07-29) was 5.48% and one month ago for the week of 2022-07-01, the average rate was 5.8%.

    The average rate one year ago was 2.88%.

    For refis of the same type during the week of 2022-08-05, the average rate was 4.86%.

    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 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 185 2.87% $7,562
    QUICKEN LOANS, LLC 179 2.42% $5,035
    FREEDOM MORTGAGE CORPORATION 146 2.43% $3,179
    NAVY FEDERAL CREDIT UNION 131 2.49% $5,784
    FINANCE OF AMERICA MORTGAGE LLC 101 2.70% $8,006
    Gateway First Bank 96 2.75% $6,343
    PENNYMAC LOAN SERVICES, LLC 70 2.35% $5,895
    LAKEVIEW LOAN SERVICING, LLC 67 2.45% $2,587
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 64 2.93% $6,700
    MOVEMENT MORTGAGE, LLC 60 2.76% $6,606
    PULTE MORTGAGE LLC 59 2.94% $6,887
    South State Bank 49 2.52% $5,702
    USAA Federal Savings Bank 43 2.91% $6,144
    LOANDEPOT.COM, LLC 42 2.60% $7,268
    UNITED WHOLESALE MORTGAGE, LLC 42 2.50% $5,205
    CALIBER HOME LOANS, INC. 40 2.61% $6,328
    NEW DAY FINANCIAL, LLC 38 2.72% $9,203
    CLEARPATH LENDING 29 2.37% $5,385
    Mortgage Network, Inc. 29 2.78% $9,997
    Mr. Cooper ( Nationstar Mortgage ) 28 2.57% $5,414
    FBC MORTGAGE, LLC 26 2.78% $4,904
    DHI MORTGAGE COMPANY, LTD. 26 2.63% $9,195
    Wells Fargo Bank 25 2.51% $4,313
    VILLAGE CAPITAL & INVESTMENT LLC 21 2.10% $4,059
    VANDERBILT MORTGAGE AND FINANCE, INC. 19 2.78% $5,731
    The Federal Savings Bank 15 2.68% $7,873
    United Community Bank 14 2.79% $9,435
    Lakeview Community Capital, LLC 14 2.48% $2,384
    GUILD MORTGAGE COMPANY 12 2.86% $5,641
    Magnolia Bank 11 2.50% $7,010
    NBKC BANK 10 2.43% $3,856
    PENTAGON FEDERAL CREDIT UNION 10 2.34% $4,266
    AMERICAN FINANCIAL NETWORK, INC. 10 2.64% $12,685
    GUARANTEED RATE, INC. 9 2.68% $9,554
    HOME POINT FINANCIAL CORPORATION 9 2.42% $2,518
    BROKER SOLUTIONS, INC. 9 2.65% $4,966
    PRIMARY RESIDENTIAL MORTGAGE, INC. 9 2.83% $7,036
    JET HOMELOANS, LLC 8 3.06% $9,124
    DAS Acquisition Company, LLC 8 3.12% $7,984
    NTFN, INC. 8 2.78% $7,302
    Paramount Residential Mortgage Group, Inc. 8 3.17% $8,615
    PLANET HOME LENDING, LLC 8 2.42% $3,554
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 2.89% $4,955
    TOWNE MORTGAGE COMPANY 8 2.55% $6,473
    Ameris Bank 8 2.81% $5,069
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 2.87% $12,561
    NP, Inc. 7 2.27% $4,611
    North American Savings Bank, F.S.B. 7 2.34% $10,045
    GMFS LLC 7 2.57% $8,636
    Low VA Rates, LLC 6 2.33% $6,616
    MUTUAL OF OMAHA MORTGAGE, INC. 6 2.92% $7,911
    AMERISAVE MORTGAGE CORPORATION 6 2.69% $7,973
    BANKSOUTH MORTGAGE COMPANY, LLC 6 2.42% $5,093
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.27% $9,256
    NEWREZ LLC 6 2.38% $3,711
    Northpointe Bank 6 2.85% $10,181
    Wyndham Capital Mortgage, Inc. 5 2.48% $2,624
    Carrington Mortgage Services, LLC 5 2.85% $4,157
    CONTOUR MORTGAGE CORPORATION 5 2.30% $7,185
    First Federal Bank 5 2.68% $9,008
    INTERCOASTAL MORTGAGE COMPANY 5 2.70% $8,444
    Renasant Bank 5 3.00% $6,734
    SUN WEST MORTGAGE COMPANY, INC. 5 2.50% $6,537
    TJC Mortgage, Inc. 5 2.28% $4,076
    CROSSCOUNTRY MORTGAGE, LLC 4 2.90% $5,812
    TruHome Solutions, LLC 4 2.59% $3,113
    Flagstar Bank, FSB 4 3.00% $12,444
    EQUITY RESOURCES, INC. 4 2.44% $13,545
    ACCELERATE MORTGAGE, LLC 4 2.19% $4,121
    BNC National Bank 4 2.25% $3,171
    LENDUS, LLC 3 2.71% $9,732
    George Mason Mortgage, LLC 3 2.54% $8,343
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 2.63% $9,737
    Synovus Bank 3 2.75% $4,154
    Meridian Bank Corporation 3 2.25% $2,676
    Strong Home Mortgage, LLC 3 2.29% $7,651
    Barrington Bank & Trust Company, N.A. 3 3.01% $8,149
    SOUTHERN TRUST MORTGAGE, LLC 3 2.83% $4,092
    Amerifirst Financial, Inc. 3 3.00% $6,391
    ANGEL OAK HOME LOANS LLC 3 2.83% $5,880
    Prime Choice Funding Inc. 3 2.42% $1,867
    First Guaranty Mortgage Corporation 3 2.29% $2,232
    INSPIRE HOME LOANS INC. 3 3.08% $6,512
    Truist Bank 3 2.83% $8,160
    Hometown Lenders, Inc. 2 3.63% $5,882
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.25% $7,747
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 3.00% $831
    LOANPAL, LLC 2 2.50% $5,544
    First Mortgage Solutions, LLC 2 2.25% $2,414
    First Home Bank 2 2.69% $3,067
    NATIONS DIRECT MORTGAGE, LLC 2 2.88% $4,370
    EMM LOANS LLC 2 3.44% $8,441
    EMBRACE HOME LOANS, INC. 2 2.56% $10,629
    CityWorth Mortgage LLC 2 2.75% $7,357
    PNC Bank 2 2.88% $6,893
    CHARTER WEST BANK 2 2.63% $12,262
    Regions Bank 2 3.25% $7,802
    RELIANCE FIRST CAPITAL, LLC 2 3.00% $6,105
    ROYAL UNITED MORTGAGE LLC 2 2.75% $9,788
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.75% $10,210
    Sunflower Bank 2 2.37% $11,998
    Armed Forces Bank 2 2.56% $2,691
    UNION HOME MORTGAGE CORP. 2 2.25% $3,489
    American Security Mortgage Corp. 2 2.50% $7,908
    HOMESIDE FINANCIAL, LLC 2 2.75% $1,942
    Trustmark National Bank 1 2.88% $18,303
    POLARIS HOME FUNDING CORP. 1 3.13% $20,975
    HOMESTEAD FUNDING CORP. 1 2.50% $3,080
    First Heritage Mortgage, LLC 1 2.75% $6,741
    CERTAINTY HOME LOANS, LLC 1 2.75% $2,611
    Prosperity Home Mortgage, LLC 1 2.62% $15,104
    BOKF 1 2.88% $4,288
    FIRST HOME MORTGAGE CORPORATION 1 2.25% $2,483
    RAPID MORTGAGE COMPANY 1 3.00% $11,255
    Hancock Whitney Bank 1 2.38% $7,232
    UNITED SECURITY FINANCIAL CORP 1 1.75% $5,219
    MORTGAGE INVESTORS GROUP, INC. 1 2.75% $5,580
    RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.25% $2,145
    ROSS MORTGAGE CORPORATION 1 2.88% $4,582
    JAMES B. NUTTER & COMPANY 1 2.75% $2,095
    SHELTER LENDING SERVICES, L.L.C. 1 2.99% $10,403
    Sierra Pacific Mortgage Company, Inc. 1 2.75% $8,719
    MILEND, INC. 1 3.13% $425
    MIDLAND MORTGAGE CORPORATION 1 3.25% $457
    SOUTHWEST STAGE FUNDING, LLC 1 3.38% $1,393
    HOMESTAR FINANCIAL CORPORATION 1 2.25% $9,863
    Mid-Continent Funding, Inc. 1 3.25% $8,068
    SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $7,312
    U.S. Bank 1 2.63% $2,069
    ACADEMY MORTGAGE CORPORATION 1 3.25% $3,154
    First Reliance Bank 1 2.63% $9,247
    Texana Bank 1 2.25% $3,746
    The Camden National Bank 1 2.25% $3,760
    Arvest Bank 1 2.75% $3,531
    1ST SIGNATURE LENDING, LLC 1 2.88% $9,509
    FirstBank 1 2.75% $896
    FAMILY FIRST FUNDING LLC 1 2.25% $12,075
    EVERETT FINANCIAL, INC. 1 3.00% $2,293
    Nations Lending Corporation 1 2.25% $1,026
    InterContinental Capital Group, Inc 1 3.00% $4,359
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.25% $2,555
    MYCUMORTGAGE, LLC 1 2.75% $359
    Countybank 1 2.00% $9,170
    Pacor Mortgage Corp 1 2.38% $2,668
    Paramount Bank 1 2.25% $3,975
    Congressional Bank 1 2.75% $10,810
    CMG MORTGAGE, INC. 1 2.25% $12,209
    Goldwater Bank, N.A. 1 2.38% $15,176
    CHURCHILL MORTGAGE CORPORATION 1 2.25% $1,951

    The top Hilton Head Island VA lender as defined by loan originations is Mortgage Research Center, LLC, with 185 VA loans originated. Their average total fees are $7,562, which is $2,527 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hilton Head Island VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($2,384), LAKEVIEW LOAN SERVICING, LLC ($2,587), FREEDOM MORTGAGE CORPORATION ($3,179), NBKC BANK ($3,856) and VILLAGE CAPITAL & INVESTMENT LLC ($4,059).

    The lowest rate Hilton Head Island VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.10%), PENTAGON FEDERAL CREDIT UNION (2.34%), PENNYMAC LOAN SERVICES, LLC (2.35%), CLEARPATH LENDING (2.37%) and QUICKEN LOANS, LLC (2.42%).

    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 (0.0%) $581,691 (1.0%) 1.47 2,755
    2018-02-01 $399,000 (0.0%) $584,599 (2.1%) 1.44 2,879
    2018-03-01 $405,000 (1.5%) $598,595 (4.4%) 1.40 2,959
    2018-04-01 $414,500 (3.9%) $616,723 (5.6%) 1.39 3,091
    2018-05-01 $415,000 (3.8%) $621,190 (5.4%) 1.38 3,099
    2018-06-01 $415,000 (3.2%) $620,233 (3.5%) 1.38 3,083
    2018-07-01 $419,000 (4.8%) $622,850 (3.7%) 1.40 3,074
    2018-08-01 $422,000 (5.5%) $631,946 (6.3%) 1.41 2,917
    2018-09-01 $415,000 (1.5%) $618,357 (4.2%) 1.39 3,084
    2018-10-01 $422,250 (4.4%) $632,463 (7.7%) 1.41 3,086
    2018-11-01 $419,022 (5.0%) $630,851 (8.8%) 1.40 3,108
    2018-12-01 $420,000 (5.3%) $632,971 (9.4%) 1.44 3,011
    2019-01-01 $417,000 (4.5%) $626,067 (7.6%) 1.44 2,989
    2019-02-01 $418,000 (4.8%) $624,592 (6.8%) 1.40 3,018
    2019-03-01 $419,286 (3.5%) $633,436 (5.8%) 1.37 3,103
    2019-04-01 $425,000 (2.5%) $648,896 (5.2%) 1.34 3,185
    2019-05-01 $433,063 (4.4%) $661,441 (6.5%) 1.33 3,180
    2019-06-01 $439,000 (5.8%) $666,534 (7.5%) 1.35 3,052
    2019-07-01 $427,000 (1.9%) $646,601 (3.8%) 1.33 3,047
    2019-08-01 $425,000 (0.7%) $647,501 (2.5%) 1.34 2,992
    2019-09-01 $424,500 (2.3%) $649,125 (5.0%) 1.35 2,918
    2019-10-01 $430,500 (2.0%) $656,575 (3.8%) 1.37 2,915
    2019-11-01 $429,900 (2.6%) $665,617 (5.5%) 1.39 2,841
    2019-12-01 $425,000 (1.2%) $654,211 (3.4%) 1.42 2,747
    2020-01-01 $422,450 (1.3%) $644,956 (3.0%) 1.41 2,649
    2020-02-01 $429,900 (2.9%) $656,927 (5.2%) 1.39 2,653
    2020-03-01 $429,900 (2.5%) $660,691 (4.3%) 1.34 2,757
    2020-04-01 $422,500 (-0.6%) $651,321 (0.4%) 1.32 2,803
    2020-05-01 $420,000 (-3.0%) $650,764 (-1.6%) 1.27 2,711
    2020-06-01 $424,325 (-3.3%) $667,881 (0.2%) 1.24 2,393
    2020-07-01 $431,950 (1.2%) $690,709 (6.8%) 1.24 2,125
    2020-08-01 $425,000 (0.0%) $704,857 (8.9%) 1.21 1,939
    2020-09-01 $403,850 (-4.9%) $708,808 (9.2%) 1.15 1,755
    2020-10-01 $399,900 (-7.1%) $725,057 (10.4%) 1.14 1,541
    2020-11-01 $403,593 (-6.1%) $753,286 (13.2%) 1.16 1,398
    2020-12-01 $415,750 (-2.2%) $769,566 (17.6%) 1.22 1,262
    2021-01-01 $435,000 (3.0%) $789,228 (22.4%) 1.28 1,050
    2021-02-01 $437,000 (1.7%) $815,442 (24.1%) 1.26 851
    2021-03-01 $458,948 (6.8%) $814,924 (23.3%) 1.29 732
    2021-04-01 $447,000 (5.8%) $803,608 (23.4%) 1.20 662
    2021-05-01 $462,500 (10.1%) $786,924 (20.9%) 1.22 630
    2021-06-01 $477,000 (12.4%) $804,575 (20.5%) 1.24 693
    2021-07-01 $496,445 (14.9%) $815,714 (18.1%) 1.29 733
    2021-08-01 $517,500 (21.8%) $822,391 (16.7%) 1.36 761
    2021-09-01 $499,450 (23.7%) $810,387 (14.3%) 1.31 782
    2021-10-01 $523,000 (30.8%) $851,356 (17.4%) 1.38 750
    2021-11-01 $524,000 (29.8%) $844,972 (12.2%) 1.38 659
    2021-12-01 $505,000 (21.5%) $856,856 (11.3%) 1.35 582
    2022-01-01 $500,000 (14.9%) $874,590 (10.8%) 1.33 464
    2022-02-01 $542,000 (24.0%) $897,115 (10.0%) 1.38 423
    2022-03-01 $552,000 (20.3%) $936,118 (14.9%) 1.36 403
    2022-04-01 $589,900 (32.0%) $976,009 (21.5%) 1.39 495
    2022-05-01 $649,000 (40.3%) $1,058,364 (34.5%) 1.45 665
    2022-06-01 $632,500 (32.6%) $1,047,792 (30.2%) 1.41 797
    Hilton Head Island's median listing price for 2022-06-01 was $632,500, a difference of $155,500 (32.6%) versus the prior year and $-16,500 versus the prior month.

    Hilton Head Island's median listing price comes in at 141% of the national average.

    Hilton Head Island's average listing price for 2022-06-01 was $1,047,792, a difference of $243,217 (30.2%) versus the prior year and $-10,572 versus the prior month.

    For the 2022-06-01 period, Hilton Head Island had 797 MLS listings, a difference of 132 listings (20%) versus the prior month and 104 listings (15%) 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
    2018-01-01 125 days 2,156 sqft
    2018-02-01 120 days 2,176 sqft
    2018-03-01 107 days 2,164 sqft
    2018-04-01 85 days 2,150 sqft
    2018-05-01 90 days 2,150 sqft
    2018-06-01 92 days 2,128 sqft
    2018-07-01 100 days 2,115 sqft
    2018-08-01 102 days 2,153 sqft
    2018-09-01 108 days 2,120 sqft
    2018-10-01 104 days 2,166 sqft
    2018-11-01 100 days 2,154 sqft
    2018-12-01 105 days 2,158 sqft
    2019-01-01 108 days 2,131 sqft
    2019-02-01 112 days 2,133 sqft
    2019-03-01 104 days 2,151 sqft
    2019-04-01 87 days 2,169 sqft
    2019-05-01 92 days 2,203 sqft
    2019-06-01 95 days 2,225 sqft
    2019-07-01 108 days 2,179 sqft
    2019-08-01 113 days 2,171 sqft
    2019-09-01 118 days 2,168 sqft
    2019-10-01 114 days 2,188 sqft
    2019-11-01 112 days 2,200 sqft
    2019-12-01 116 days 2,187 sqft
    2020-01-01 118 days 2,163 sqft
    2020-02-01 119 days 2,200 sqft
    2020-03-01 106 days 2,209 sqft
    2020-04-01 97 days 2,175 sqft
    2020-05-01 105 days 2,134 sqft
    2020-06-01 109 days 2,150 sqft
    2020-07-01 111 days 2,200 sqft
    2020-08-01 81 days 2,200 sqft
    2020-09-01 72 days 2,160 sqft
    2020-10-01 71 days 2,171 sqft
    2020-11-01 69 days 2,132 sqft
    2020-12-01 73 days 2,158 sqft
    2021-01-01 80 days 2,120 sqft
    2021-02-01 68 days 2,061 sqft
    2021-03-01 51 days 2,105 sqft
    2021-04-01 47 days 2,046 sqft
    2021-05-01 44 days 2,010 sqft
    2021-06-01 39 days 1,964 sqft
    2021-07-01 44 days 1,975 sqft
    2021-08-01 47 days 2,010 sqft
    2021-09-01 49 days 1,974 sqft
    2021-10-01 51 days 2,040 sqft
    2021-11-01 53 days 1,981 sqft
    2021-12-01 55 days 1,991 sqft
    2022-01-01 62 days 1,998 sqft
    2022-02-01 44 days 2,016 sqft
    2022-03-01 36 days 2,110 sqft
    2022-04-01 34 days 2,115 sqft
    2022-05-01 35 days 2,171 sqft
    2022-06-01 35 days 2,134 sqft
    Hilton Head Island's median listing age (time on market) for 2022-06-01 was 35 days. This is -9% shorter than the same period one year ago.

    Hilton Head Island's median square footage for active listings during the 2022-06-01 period was 2,134 sqft. One year prior, the average listing was 1,964 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.