Hilton Head Island VA Loan Rates, Closing Costs & Stats
HILTON HEAD ISLAND-BLUFFTON, SC
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 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
6.37%
for the week of 2023-01-27, compared to the national average (all VA variants) of
5.952% for the same period.
Hilton Head Island's average VA mortgage closing costs are $5,920.
The average rate for the prior week (2023-01-20) was
6.1% and
one month ago for the week of 2022-12-23, the
average rate was 6.27%.
The average rate one year ago was 3.87%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.9%.
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.
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 MORTGAGE ($4,059).
The lowest rate Hilton Head Island VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (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. LouisDate | 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%) | 1.41 | 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%) | $643,984 (6.5%) | 1.39 | 2,926 |
2019-04-01 | $432,400 (2.5%) | $659,087 (5.9%) | 1.37 | 2,998 |
2019-05-01 | $439,450 (4.9%) | $671,707 (7.1%) | 1.37 | 2,994 |
2019-06-01 | $443,000 (5.6%) | $673,711 (7.5%) | 1.38 | 2,875 |
2019-07-01 | $435,000 (2.6%) | $657,063 (4.9%) | 1.36 | 2,864 |
2019-08-01 | $433,895 (1.8%) | $657,881 (3.1%) | 1.37 | 2,845 |
2019-09-01 | $432,239 (3.2%) | $658,566 (5.2%) | 1.38 | 2,787 |
2019-10-01 | $435,159 (2.2%) | $662,975 (2.8%) | 1.40 | 2,732 |
2019-11-01 | $435,000 (2.4%) | $668,921 (3.9%) | 1.43 | 2,689 |
2019-12-01 | $429,000 (0.9%) | $663,193 (2.5%) | 1.43 | 2,602 |
2020-01-01 | $425,000 (0.0%) | $652,430 (1.6%) | 1.42 | 2,499 |
2020-02-01 | $434,000 (2.1%) | $661,282 (3.3%) | 1.42 | 2,522 |
2020-03-01 | $435,000 (2.5%) | $666,813 (3.5%) | 1.36 | 2,589 |
2020-04-01 | $426,227 (-1.4%) | $656,089 (-0.5%) | 1.33 | 2,629 |
2020-05-01 | $425,000 (-3.3%) | $663,332 (-1.3%) | 1.29 | 2,563 |
2020-06-01 | $429,000 (-3.2%) | $680,580 (1.0%) | 1.26 | 2,249 |
2020-07-01 | $439,000 (0.9%) | $696,408 (6.0%) | 1.27 | 1,996 |
2020-08-01 | $429,990 (-0.9%) | $707,288 (7.5%) | 1.23 | 1,827 |
2020-09-01 | $415,000 (-4.0%) | $718,435 (9.1%) | 1.19 | 1,646 |
2020-10-01 | $399,999 (-8.1%) | $721,485 (8.8%) | 1.15 | 1,450 |
2020-11-01 | $408,059 (-6.2%) | $746,081 (11.5%) | 1.19 | 1,320 |
2020-12-01 | $414,500 (-3.4%) | $765,812 (15.5%) | 1.23 | 1,176 |
2021-01-01 | $439,900 (3.5%) | $789,776 (21.1%) | 1.31 | 982 |
2021-02-01 | $438,862 (1.1%) | $808,896 (22.3%) | 1.28 | 793 |
2021-03-01 | $454,725 (4.5%) | $806,070 (20.9%) | 1.29 | 701 |
2021-04-01 | $449,500 (5.5%) | $834,806 (27.2%) | 1.22 | 633 |
2021-05-01 | $469,745 (10.5%) | $817,059 (23.2%) | 1.24 | 595 |
2021-06-01 | $480,750 (12.1%) | $825,230 (21.3%) | 1.27 | 648 |
2021-07-01 | $499,000 (13.7%) | $827,719 (18.9%) | 1.31 | 695 |
2021-08-01 | $534,500 (24.3%) | $836,454 (18.3%) | 1.43 | 714 |
2021-09-01 | $508,000 (22.4%) | $820,025 (14.1%) | 1.35 | 730 |
2021-10-01 | $519,000 (29.8%) | $852,673 (18.2%) | 1.38 | 704 |
2021-11-01 | $517,500 (26.8%) | $848,048 (13.7%) | 1.38 | 606 |
2021-12-01 | $503,250 (21.4%) | $867,673 (13.3%) | 1.36 | 532 |
2022-01-01 | $499,378 (13.5%) | $875,284 (10.8%) | 1.35 | 428 |
2022-02-01 | $538,750 (22.8%) | $909,010 (12.4%) | 1.40 | 389 |
2022-03-01 | $575,750 (26.6%) | $967,487 (20.0%) | 1.44 | 379 |
2022-04-01 | $597,000 (32.8%) | $989,221 (18.5%) | 1.42 | 460 |
2022-05-01 | $648,404 (38.0%) | $1,070,218 (31.0%) | 1.48 | 613 |
2022-06-01 | $639,750 (33.1%) | $1,066,856 (29.3%) | 1.42 | 741 |
2022-07-01 | $625,000 (25.3%) | $1,025,049 (23.8%) | 1.41 | 885 |
2022-08-01 | $627,000 (17.3%) | $1,010,831 (20.9%) | 1.45 | 943 |
2022-09-01 | $639,975 (26.0%) | $1,022,247 (24.7%) | 1.50 | 944 |
2022-10-01 | $629,900 (21.4%) | $1,003,027 (17.6%) | 1.48 | 973 |
2022-11-01 | $625,000 (20.8%) | $1,003,784 (18.4%) | 1.50 | 1,055 |
2022-12-01 | $625,000 (24.2%) | $1,001,310 (15.4%) | 1.56 | 1,039 |
Hilton Head Island's median listing price comes in at 156% of the national average.
Hilton Head Island's average listing price for 2022-12-01 was $1,001,310, a difference of $133,637 (15.4%) versus the prior year and $-2,474 versus the prior month.
For the 2022-12-01 period, Hilton Head Island had 1,039 MLS listings, a difference of -16 listings (-2%) versus the prior month and 507 listings (95%) 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. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 129 days | 2,150 sqft |
2018-02-01 | 120 days | 2,173 sqft |
2018-03-01 | 107 days | 2,159 sqft |
2018-04-01 | 84 days | 2,146 sqft |
2018-05-01 | 89 days | 2,142 sqft |
2018-06-01 | 92 days | 2,125 sqft |
2018-07-01 | 100 days | 2,115 sqft |
2018-08-01 | 103 days | 2,155 sqft |
2018-09-01 | 110 days | 2,125 sqft |
2018-10-01 | 107 days | 2,168 sqft |
2018-11-01 | 103 days | 2,155 sqft |
2018-12-01 | 110 days | 2,161 sqft |
2019-01-01 | 112 days | 2,141 sqft |
2019-02-01 | 115 days | 2,139 sqft |
2019-03-01 | 106 days | 2,150 sqft |
2019-04-01 | 93 days | 2,167 sqft |
2019-05-01 | 97 days | 2,188 sqft |
2019-06-01 | 102 days | 2,212 sqft |
2019-07-01 | 110 days | 2,175 sqft |
2019-08-01 | 114 days | 2,175 sqft |
2019-09-01 | 120 days | 2,175 sqft |
2019-10-01 | 124 days | 2,184 sqft |
2019-11-01 | 120 days | 2,197 sqft |
2019-12-01 | 121 days | 2,183 sqft |
2020-01-01 | 120 days | 2,160 sqft |
2020-02-01 | 122 days | 2,174 sqft |
2020-03-01 | 116 days | 2,200 sqft |
2020-04-01 | 104 days | 2,159 sqft |
2020-05-01 | 107 days | 2,128 sqft |
2020-06-01 | 117 days | 2,141 sqft |
2020-07-01 | 121 days | 2,188 sqft |
2020-08-01 | 94 days | 2,186 sqft |
2020-09-01 | 82 days | 2,138 sqft |
2020-10-01 | 78 days | 2,134 sqft |
2020-11-01 | 79 days | 2,118 sqft |
2020-12-01 | 89 days | 2,134 sqft |
2021-01-01 | 91 days | 2,117 sqft |
2021-02-01 | 86 days | 2,034 sqft |
2021-03-01 | 65 days | 2,090 sqft |
2021-04-01 | 54 days | 2,065 sqft |
2021-05-01 | 50 days | 2,026 sqft |
2021-06-01 | 42 days | 1,954 sqft |
2021-07-01 | 50 days | 1,983 sqft |
2021-08-01 | 54 days | 2,021 sqft |
2021-09-01 | 52 days | 1,970 sqft |
2021-10-01 | 59 days | 2,024 sqft |
2021-11-01 | 63 days | 1,961 sqft |
2021-12-01 | 68 days | 1,982 sqft |
2022-01-01 | 80 days | 1,987 sqft |
2022-02-01 | 54 days | 2,020 sqft |
2022-03-01 | 34 days | 2,081 sqft |
2022-04-01 | 32 days | 2,094 sqft |
2022-05-01 | 33 days | 2,167 sqft |
2022-06-01 | 34 days | 2,114 sqft |
2022-07-01 | 43 days | 2,059 sqft |
2022-08-01 | 51 days | 2,094 sqft |
2022-09-01 | 56 days | 2,096 sqft |
2022-10-01 | 61 days | 2,147 sqft |
2022-11-01 | 59 days | 2,124 sqft |
2022-12-01 | 67 days | 2,126 sqft |
Hilton Head Island's median square footage for active listings during the 2022-12-01 period was 2,126 sqft. One year prior, the average listing was 1,982 sqft.