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 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 6.73% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.38% and one month ago for the week of 2024-03-08, the average rate was 6.61%.

The average rate one year ago was 6.1%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.99%.

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
Hilton Head Island's median listing price for 2024-03-01 was $585,000, a difference of $-64,375 (-9.9%) versus the prior year and $7,750 versus the prior month.

Hilton Head Island's median listing price comes in at 138% of the national average.

Hilton Head Island's average listing price for 2024-03-01 was $1,035,205, a difference of $-10,768 (-1.0%) versus the prior year and $5,480 versus the prior month.

For the 2024-03-01 period, Hilton Head Island had 1,425 MLS listings, a difference of 118 listings (9%) versus the prior month and 540 listings (61%) 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 2,001 sqft
2024-02-01 70 days 1,967 sqft
2024-03-01 51 days 1,997 sqft
Hilton Head Island's median listing age (time on market) for 2024-03-01 was 51 days. This is -9% shorter than the same period one year ago.

Hilton Head Island's median square footage for active listings during the 2024-03-01 period was 1,997 sqft. One year prior, the average listing was 2,227 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.