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 6.09% for the week of 2024-10-25, compared to the national average (all VA variants) of 6.14% for the same period.

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

    The average rate for the prior week (2024-10-18) was 6.31% and one month ago for the week of 2024-09-20, the average rate was 5.41%.

    The average rate one year ago was 7.63%.

    For refis of the same type during the week of 2024-10-25, the average rate was 6.36%.

    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%).

    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.