Kill Devil Hills VA Loan Rates, Closing Costs & Stats

Kill Devil Hills, NC

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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.

    Kill Devil Hills's 30 lenders originated 50 VA loans during 2023. The total origination value was $23,360,000, with an average VA loan value of $467,200.

    Kill Devil Hills VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Kill Devil Hills averaged 6.63% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Kill Devil Hills's average VA mortgage closing costs are $7,292.

    The average rate for the prior week (2024-07-12) was 6.57% and one month ago for the week of 2024-06-14, the average rate was 6.54%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.2%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Kill Devil Hills 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 Kill Devil Hills level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Presidential Bank, FSB 4 6.16% $10,151
    QUICKEN LOANS, LLC 4 6.02% $16,130
    Mortgage Research Center, LLC 4 7.03% $9,332
    USAA Federal Savings Bank 3 6.21% $8,335
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.50% $8,170
    NAVY FEDERAL CREDIT UNION 2 5.94% $9,421
    SOUTHERN TRUST MORTGAGE, LLC 2 6.88% $19,711
    PENTAGON FEDERAL CREDIT UNION 2 5.63% $24,943
    GUARANTEED RATE, INC. 2 6.24% $7,155
    NEW DAY FINANCIAL, LLC 1 6.99% $20,732
    Paramount Residential Mortgage Group, Inc. 1 5.75% $8,476
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $7,836
    PREMIA MORTGAGE, LLC 1 5.63% $8,910
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $12,883
    Southern Bank and Trust Company 1 5.63% $7,277
    The Central Trust Bank 1 5.25% $9,709
    Tidewater Home Funding, LLC 1 6.75% $791
    Towne Bank 1 6.75% $14,674
    UNION HOME MORTGAGE CORP. 1 6.13% $7,356
    UNITED WHOLESALE MORTGAGE, LLC 1 5.62% $7,038
    Academy Bank 1 5.25% $2,938
    U.S. Bank 1 6.25% $4,332
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $28,434
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $6,852
    First National Bank of Pennsylvania 1 5.63% $32,181
    FREEDOM MORTGAGE CORPORATION 1 6.25% $7,226
    GENEVA FINANCIAL, LLC 1 6.88% $19,953
    JAMS-01, INC. 1 6.13% $13,519
    MOVEMENT MORTGAGE, LLC 1 6.25% $14,318
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $25,521

    The top Kill Devil Hills VA lender as defined by loan originations is Presidential Bank, FSB, with 4 VA loans originated. Their average total fees are $10,151, which is $5,978 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Kill Devil Hills VA lenders (with over 10 loans originated) are .

    The lowest rate Kill Devil Hills VA lenders (with over 10 loans originated) are .

    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.