Hilton Head Island VA Loans

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 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.