Marion VA Loan Rates, Closing Costs & Stats

Marion, NC

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.

Marion's 21 lenders originated 43 VA loans during 2023. The total origination value was $12,735,000, with an average VA loan value of $296,163.

Marion VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Marion averaged 6.66% for the week of 2024-07-12, compared to the national average (all VA variants) of 6.364% for the same period.

Marion's average VA mortgage closing costs are $5,393.

The average rate for the prior week (2024-07-05) was 6.38% and one month ago for the week of 2024-06-07, the average rate was 6.39%.

The average rate one year ago was 6.77%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.56%.

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

Marion 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 Marion level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 11 7.01% $4,159
MOVEMENT MORTGAGE, LLC 4 6.75% $7,145
QUICKEN LOANS, LLC 3 6.29% $8,088
CARDINAL FINANCIAL 3 6.42% $13,511
FIRST COMMUNITY MORTGAGE, INC. 2 7.19% $12,703
FREEDOM MORTGAGE CORPORATION 2 6.31% $13,335
NAVY FEDERAL CREDIT UNION 2 5.88% $2,076
Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $11,805
Nations Lending Corporation 1 7.63% $9,459
NEW DAY FINANCIAL, LLC 1 7.38% $8,451
PLANET HOME LENDING, LLC 1 6.75% $7,893
RELIANCE FIRST CAPITAL, LLC 1 7.00% $10,907
UNION HOME MORTGAGE CORP. 1 6.63% $3,262
ACOPIA, LLC 1 5.75% $1,705
USAA Federal Savings Bank 1 6.25% $3,412
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $4,685
BAY EQUITY LLC 1 5.75% $9,904
BNC National Bank 1 5.75% $8,774
CROSSCOUNTRY MORTGAGE, LLC 1 6.56% $19,418
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.38% $1,654
LOANDEPOT.COM, LLC 1 6.13% $7,410

The top Marion VA lender as defined by loan originations is Mortgage Research Center, LLC, with 11 VA loans originated. Their average total fees are $4,159, which is $2,986 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,159), .

The lowest rate Marion VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.01%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Marion (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 $259,000 (12.0%) $331,777 (10.1%) 0.00 196
2018-02-01 $259,000 (12.7%) $328,382 (12.4%) 0.00 194
2018-03-01 $250,000 (5.5%) $331,818 (6.9%) 0.00 184
2018-04-01 $249,150 (-3.8%) $344,373 (7.4%) 0.00 176
2018-05-01 $249,000 (-5.6%) $350,455 (6.3%) 0.00 187
2018-06-01 $269,000 (-0.7%) $378,315 (11.0%) 0.00 196
2018-07-01 $272,750 (-2.2%) $384,531 (12.2%) 0.00 212
2018-08-01 $289,500 (3.8%) $395,421 (16.1%) 0.00 198
2018-09-01 $294,500 (5.6%) $389,059 (10.3%) 0.00 210
2018-10-01 $286,375 (2.6%) $389,102 (11.0%) 0.00 215
2018-11-01 $269,950 (-1.8%) $367,480 (5.0%) 0.00 206
2018-12-01 $256,950 (-6.6%) $351,536 (1.3%) 0.00 203
2019-01-01 $250,000 (-3.5%) $338,981 (2.2%) 0.00 188
2019-02-01 $269,450 (4.0%) $349,321 (6.4%) 0.00 178
2019-03-01 $274,714 (9.9%) $355,611 (7.2%) 0.00 189
2019-04-01 $294,250 (18.1%) $375,317 (9.0%) 0.00 181
2019-05-01 $313,250 (25.8%) $405,039 (15.6%) 0.00 186
2019-06-01 $299,400 (11.3%) $408,119 (7.9%) 0.00 217
2019-07-01 $294,100 (7.8%) $400,796 (4.2%) 0.00 210
2019-08-01 $302,959 (4.7%) $398,698 (0.8%) 0.00 207
2019-09-01 $308,298 (4.7%) $394,049 (1.3%) 0.00 207
2019-10-01 $311,857 (8.9%) $391,977 (0.7%) 0.00 207
2019-11-01 $324,900 (20.4%) $392,232 (6.7%) 0.00 197
2019-12-01 $294,750 (14.7%) $379,798 (8.0%) 0.00 178
2020-01-01 $304,825 (21.9%) $386,655 (14.1%) 0.00 164
2020-02-01 $325,000 (20.6%) $405,247 (16.0%) 0.00 162
2020-03-01 $329,900 (20.1%) $408,056 (14.8%) 0.00 163
2020-04-01 $334,900 (13.8%) $413,255 (10.1%) 0.00 156
2020-05-01 $359,250 (14.7%) $433,694 (7.1%) 0.00 134
2020-06-01 $372,000 (24.3%) $450,788 (10.5%) 0.00 119
2020-07-01 $383,500 (30.4%) $467,271 (16.6%) 0.00 103
2020-08-01 $359,500 (18.7%) $450,273 (12.9%) 0.00 97
2020-09-01 $357,000 (15.8%) $448,431 (13.8%) 0.00 98
2020-10-01 $340,000 (9.0%) $431,100 (10.0%) 0.00 93
2020-11-01 $342,200 (5.3%) $404,340 (3.1%) 0.00 85
2020-12-01 $299,000 (1.4%) $384,417 (1.2%) 0.00 85
2021-01-01 $299,000 (-1.9%) $379,658 (-1.8%) 0.00 68
2021-02-01 $278,500 (-14.3%) $394,075 (-2.8%) 0.00 57
2021-03-01 $301,225 (-8.7%) $388,675 (-4.8%) 0.00 52
2021-04-01 $287,400 (-14.2%) $391,830 (-5.2%) 0.00 53
2021-05-01 $325,000 (-9.5%) $407,969 (-5.9%) 0.00 55
2021-06-01 $397,250 (6.8%) $447,250 (-0.8%) 0.00 64
2021-07-01 $415,000 (8.2%) $466,777 (-0.1%) 0.00 74
2021-08-01 $375,500 (4.5%) $431,255 (-4.2%) 0.00 84
2021-09-01 $384,250 (7.6%) $453,726 (1.2%) 0.00 80
2021-10-01 $389,000 (14.4%) $490,980 (13.9%) 0.00 83
2021-11-01 $414,000 (21.0%) $3,247,435 (703.2%) 0.00 80
2021-12-01 $389,000 (30.1%) $3,411,322 (787.4%) 0.00 71
2022-01-01 $400,000 (33.8%) $471,730 (24.3%) 0.00 56
2022-02-01 $341,925 (22.8%) $472,235 (19.8%) 0.00 42
2022-03-01 $334,725 (11.1%) $426,652 (9.8%) 0.00 45
2022-04-01 $365,000 (27.0%) $480,702 (22.7%) 0.00 43
2022-05-01 $362,500 (11.5%) $496,381 (21.7%) 0.00 49
2022-06-01 $380,000 (-4.3%) $506,753 (13.3%) 0.00 64
2022-07-01 $375,000 (-9.6%) $482,028 (3.3%) 0.00 80
2022-08-01 $354,500 (-5.6%) $457,792 (6.2%) 0.00 86
2022-09-01 $385,500 (0.3%) $499,305 (10.1%) 0.00 77
2022-10-01 $397,000 (2.1%) $519,100 (5.7%) 0.00 79
2022-11-01 $440,000 (6.3%) $554,716 (-82.9%) 0.00 81
2022-12-01 $415,000 (6.7%) $537,088 (-84.3%) 0.00 82
2023-01-01 $394,475 (-1.4%) $540,474 (14.6%) 0.00 75
2023-02-01 $413,225 (20.9%) $575,609 (21.9%) 0.00 59
2023-03-01 $395,000 (18.0%) $610,847 (43.2%) 0.00 58
2023-04-01 $462,450 (26.7%) $663,896 (38.1%) 0.00 59
2023-05-01 $479,625 (32.3%) $680,944 (37.2%) 0.00 66
2023-06-01 $489,000 (28.7%) $730,118 (44.1%) 0.00 69
2023-07-01 $459,000 (22.4%) $639,190 (32.6%) 0.00 78
2023-08-01 $449,725 (26.9%) $620,430 (35.5%) 0.00 92
2023-09-01 $450,000 (16.7%) $650,381 (30.3%) 0.00 103
2023-10-01 $441,075 (11.1%) $591,360 (13.9%) 0.00 116
2023-11-01 $447,225 (1.6%) $587,131 (5.8%) 0.00 112
2023-12-01 $459,000 (10.6%) $597,841 (11.3%) 0.00 101
2024-01-01 $467,000 (18.4%) $579,409 (7.2%) 0.00 89
2024-02-01 $443,000 (7.2%) $567,223 (-1.5%) 0.00 84
2024-03-01 $459,900 (16.4%) $559,427 (-8.4%) 0.00 96
2024-04-01 $433,125 (-6.3%) $543,416 (-18.2%) 0.00 96
2024-05-01 $432,450 (-9.8%) $554,795 (-18.5%) 0.00 104
2024-06-01 $459,000 (-6.1%) $613,833 (-15.9%) 0.00 108
Marion's median listing price for 2024-06-01 was $459,000, a difference of $-30,000 (-6.1%) versus the prior year and $26,550 versus the prior month.

Marion's median listing price comes in at 0% of the national average.

Marion's average listing price for 2024-06-01 was $613,833, a difference of $-116,285 (-15.9%) versus the prior year and $59,038 versus the prior month.

For the 2024-06-01 period, Marion had 108 MLS listings, a difference of 4 listings (4%) versus the prior month and 39 listings (57%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Marion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,998 sqft
2018-02-01 0 days 1,947 sqft
2018-03-01 0 days 1,989 sqft
2018-04-01 0 days 1,925 sqft
2018-05-01 0 days 1,906 sqft
2018-06-01 0 days 1,906 sqft
2018-07-01 0 days 1,932 sqft
2018-08-01 0 days 2,059 sqft
2018-09-01 0 days 2,049 sqft
2018-10-01 0 days 2,029 sqft
2018-11-01 0 days 1,936 sqft
2018-12-01 0 days 1,907 sqft
2019-01-01 0 days 1,901 sqft
2019-02-01 0 days 1,919 sqft
2019-03-01 0 days 1,947 sqft
2019-04-01 0 days 2,012 sqft
2019-05-01 0 days 2,003 sqft
2019-06-01 0 days 2,000 sqft
2019-07-01 0 days 1,999 sqft
2019-08-01 0 days 2,015 sqft
2019-09-01 0 days 2,021 sqft
2019-10-01 0 days 2,024 sqft
2019-11-01 0 days 2,000 sqft
2019-12-01 0 days 1,989 sqft
2020-01-01 0 days 1,984 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 2,052 sqft
2020-04-01 0 days 2,088 sqft
2020-05-01 0 days 2,203 sqft
2020-06-01 0 days 2,258 sqft
2020-07-01 0 days 2,362 sqft
2020-08-01 0 days 2,242 sqft
2020-09-01 0 days 2,217 sqft
2020-10-01 0 days 2,209 sqft
2020-11-01 0 days 2,108 sqft
2020-12-01 0 days 2,083 sqft
2021-01-01 0 days 2,100 sqft
2021-02-01 0 days 2,012 sqft
2021-03-01 0 days 1,906 sqft
2021-04-01 0 days 1,630 sqft
2021-05-01 0 days 1,674 sqft
2021-06-01 0 days 1,885 sqft
2021-07-01 0 days 1,823 sqft
2021-08-01 0 days 1,791 sqft
2021-09-01 0 days 1,843 sqft
2021-10-01 0 days 1,872 sqft
2021-11-01 0 days 1,977 sqft
2021-12-01 0 days 1,839 sqft
2022-01-01 0 days 1,696 sqft
2022-02-01 0 days 1,643 sqft
2022-03-01 0 days 1,575 sqft
2022-04-01 0 days 1,650 sqft
2022-05-01 0 days 1,762 sqft
2022-06-01 0 days 1,810 sqft
2022-07-01 0 days 1,772 sqft
2022-08-01 0 days 1,730 sqft
2022-09-01 0 days 1,836 sqft
2022-10-01 0 days 1,824 sqft
2022-11-01 0 days 1,907 sqft
2022-12-01 0 days 1,738 sqft
2023-01-01 0 days 1,644 sqft
2023-02-01 0 days 1,812 sqft
2023-03-01 0 days 1,758 sqft
2023-04-01 0 days 2,252 sqft
2023-05-01 0 days 2,252 sqft
2023-06-01 0 days 2,077 sqft
2023-07-01 0 days 1,967 sqft
2023-08-01 0 days 1,904 sqft
2023-09-01 0 days 1,978 sqft
2023-10-01 0 days 1,799 sqft
2023-11-01 0 days 1,833 sqft
2023-12-01 0 days 1,798 sqft
2024-01-01 0 days 1,797 sqft
2024-02-01 0 days 1,749 sqft
2024-03-01 0 days 1,917 sqft
2024-04-01 0 days 1,844 sqft
2024-05-01 0 days 1,908 sqft
2024-06-01 0 days 1,917 sqft
Marion's median listing age (time on market) for 2024-06-01 was 0 days.

Marion's median square footage for active listings during the 2024-06-01 period was 1,917 sqft. One year prior, the average listing was 2,077 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.