Morehead City VA Loan Rates, Closing Costs & Stats

Morehead City, 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.

    Morehead City's 54 lenders originated 206 VA loans during 2023. The total origination value was $75,190,000, with an average VA loan value of $365,000.

    Morehead City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morehead City averaged 6.68% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Morehead City's average VA mortgage closing costs are $5,833.

    The average rate for the prior week (2024-04-12) was 6.71% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 5.96%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Morehead City 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 Morehead City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NAVY FEDERAL CREDIT UNION 31 5.71% $7,333
    Mortgage Research Center, LLC 26 6.69% $6,768
    DHI MORTGAGE COMPANY, LTD. 14 5.50% $6,303
    MOVEMENT MORTGAGE, LLC 13 6.43% $7,958
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 12 6.53% $8,529
    QUICKEN LOANS, LLC 11 5.91% $10,572
    UNITED WHOLESALE MORTGAGE, LLC 11 5.96% $9,046
    USAA Federal Savings Bank 6 5.94% $11,533
    FREEDOM MORTGAGE CORPORATION 5 6.60% $14,328
    GUARANTEED RATE, INC. 4 5.71% $6,376
    PENNYMAC LOAN SERVICES, LLC 3 5.92% $5,666
    American Security Mortgage Corp. 3 5.54% $12,969
    BNC National Bank 3 5.42% $9,592
    GUILD MORTGAGE COMPANY 2 7.13% $11,304
    SeaTrust Mortgage Company 2 6.68% $9,208
    LOANDEPOT.COM, LLC 2 5.44% $14,520
    The Federal Savings Bank 2 7.25% $16,105
    INTERCOASTAL MORTGAGE COMPANY 2 5.81% $16,341
    Gateway First Bank 2 6.75% $1,222
    Nations Lending Corporation 2 6.63% $7,620
    Armed Forces Bank 2 5.44% $17,384
    CMG MORTGAGE, INC. 2 5.88% $6,300
    NEW DAY FINANCIAL, LLC 2 7.25% $15,713
    Mr. Cooper ( Nationstar Mortgage ) 2 5.56% $17,357
    T2 FINANCIAL LLC 1 6.38% $9,267
    UNION HOME MORTGAGE CORP. 1 6.75% $7,373
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.75% $12,672
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $2,796
    VERITAS FUNDING, LLC 1 6.63% $19,474
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $11,970
    VILLAGE CAPITAL MORTGAGE 1 5.25% $6,125
    Barrington Bank & Trust Company, N.A. 1 5.63% $35,636
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $9,200
    CAPITAL CENTER, L.L.C. 1 6.25% $0
    Corporate Investors Mortgage Group, Inc. 1 7.25% $4,889
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $2,925
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.38% $8,205
    GoPrime Mortgage, Inc. 1 6.00% $2,761
    GSF Mortgage Corporation 1 5.13% $12,001
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $10,259
    HOMESIDE FINANCIAL, LLC 1 7.00% $1,755
    HOMESTAR FINANCIAL CORPORATION 1 5.75% $16,884
    LANGLEY 1 6.25% $867
    LOANPAL, LLC 1 6.75% $11,722
    Mid-Continent Funding, Inc. 1 7.63% $4,724
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $4,253
    NEWREZ LLC 1 6.13% $2,826
    NFM, INC. 1 6.13% $18,914
    North American Savings Bank, F.S.B. 1 5.63% $17,846
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $3,300
    Plains Commerce Bank 1 6.75% $4,587
    PLANET HOME LENDING, LLC 1 5.63% $2,687
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $19,458
    RELIANCE FIRST CAPITAL, LLC 1 7.75% $8,856

    The top Morehead City VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with 31 VA loans originated. Their average total fees are $7,333, which is $565 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Morehead City VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,303), Mortgage Research Center, LLC ($6,768), NAVY FEDERAL CREDIT UNION ($7,333), MOVEMENT MORTGAGE, LLC ($7,958) and ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($8,529).

    The lowest rate Morehead City VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.50%), NAVY FEDERAL CREDIT UNION (5.71%), QUICKEN LOANS, LLC (5.91%), UNITED WHOLESALE MORTGAGE, LLC (5.96%) and MOVEMENT MORTGAGE, LLC (6.43%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Morehead City (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 $309,450 (3.5%) $393,920 (7.8%) 0.00 969
    2018-02-01 $314,950 (5.3%) $398,075 (7.7%) 0.00 958
    2018-03-01 $322,950 (8.0%) $404,889 (8.3%) 0.00 997
    2018-04-01 $322,250 (4.6%) $404,273 (4.8%) 0.00 1,011
    2018-05-01 $325,000 (6.7%) $413,015 (5.8%) 0.00 1,022
    2018-06-01 $326,500 (7.1%) $416,844 (7.9%) 0.00 999
    2018-07-01 $330,000 (4.8%) $425,276 (8.6%) 0.00 983
    2018-08-01 $337,000 (6.9%) $433,165 (10.7%) 0.00 939
    2018-09-01 $343,000 (8.9%) $446,926 (15.2%) 0.00 899
    2018-10-01 $337,000 (7.0%) $445,004 (14.4%) 0.00 723
    2018-11-01 $338,925 (9.7%) $443,515 (15.0%) 0.00 670
    2018-12-01 $339,900 (9.7%) $443,764 (14.0%) 0.00 653
    2019-01-01 $339,463 (9.7%) $449,963 (14.2%) 0.00 585
    2019-02-01 $340,619 (8.2%) $440,224 (10.6%) 0.00 610
    2019-03-01 $351,143 (8.7%) $457,572 (13.0%) 0.00 636
    2019-04-01 $354,125 (9.9%) $474,251 (17.3%) 0.00 673
    2019-05-01 $362,500 (11.5%) $488,547 (18.3%) 0.00 705
    2019-06-01 $359,900 (10.2%) $484,360 (16.2%) 0.00 729
    2019-07-01 $369,125 (11.9%) $486,944 (14.5%) 0.00 737
    2019-08-01 $376,336 (11.7%) $494,837 (14.2%) 0.00 751
    2019-09-01 $378,341 (10.3%) $497,583 (11.3%) 0.00 778
    2019-10-01 $379,677 (12.7%) $499,413 (12.2%) 0.00 799
    2019-11-01 $375,000 (10.6%) $492,275 (11.0%) 0.00 820
    2019-12-01 $375,000 (10.3%) $488,356 (10.1%) 0.00 774
    2020-01-01 $375,000 (10.5%) $484,524 (7.7%) 0.00 771
    2020-02-01 $375,000 (10.1%) $488,145 (10.9%) 0.00 771
    2020-03-01 $375,000 (6.8%) $490,303 (7.2%) 0.00 805
    2020-04-01 $375,375 (6.0%) $497,395 (4.9%) 0.00 809
    2020-05-01 $375,500 (3.6%) $499,510 (2.2%) 0.00 758
    2020-06-01 $385,000 (7.0%) $519,460 (7.3%) 0.00 659
    2020-07-01 $385,000 (4.3%) $520,107 (6.8%) 0.00 584
    2020-08-01 $385,000 (2.3%) $527,131 (6.5%) 0.00 532
    2020-09-01 $385,000 (1.8%) $552,438 (11.0%) 0.00 454
    2020-10-01 $385,000 (1.4%) $555,865 (11.3%) 0.00 430
    2020-11-01 $385,000 (2.7%) $558,711 (13.5%) 0.00 400
    2020-12-01 $399,725 (6.6%) $575,358 (17.8%) 0.00 332
    2021-01-01 $399,250 (6.5%) $552,071 (13.9%) 0.00 287
    2021-02-01 $422,500 (12.7%) $587,290 (20.3%) 0.00 241
    2021-03-01 $449,975 (20.0%) $594,730 (21.3%) 0.00 219
    2021-04-01 $469,950 (25.2%) $619,749 (24.6%) 0.00 215
    2021-05-01 $465,000 (23.8%) $622,774 (24.7%) 0.00 202
    2021-06-01 $467,825 (21.5%) $613,422 (18.1%) 0.00 224
    2021-07-01 $450,000 (16.9%) $596,253 (14.6%) 0.00 242
    2021-08-01 $450,000 (16.9%) $624,288 (18.4%) 0.00 245
    2021-09-01 $450,000 (16.9%) $623,067 (12.8%) 0.00 276
    2021-10-01 $449,000 (16.6%) $599,921 (7.9%) 0.00 265
    2021-11-01 $449,500 (16.8%) $612,188 (9.6%) 0.00 232
    2021-12-01 $461,950 (15.6%) $615,791 (7.0%) 0.00 208
    2022-01-01 $475,000 (19.0%) $607,750 (10.1%) 0.00 165
    2022-02-01 $479,150 (13.4%) $609,761 (3.8%) 0.00 160
    2022-03-01 $484,475 (7.7%) $633,846 (6.6%) 0.00 145
    2022-04-01 $486,950 (3.6%) $635,745 (2.6%) 0.00 164
    2022-05-01 $510,950 (9.9%) $682,419 (9.6%) 0.00 179
    2022-06-01 $525,000 (12.2%) $696,527 (13.6%) 0.00 218
    2022-07-01 $539,900 (20.0%) $706,652 (18.5%) 0.00 262
    2022-08-01 $559,450 (24.3%) $722,663 (15.8%) 0.00 271
    2022-09-01 $552,975 (22.9%) $721,107 (15.7%) 0.00 300
    2022-10-01 $550,000 (22.5%) $697,339 (16.2%) 0.00 335
    2022-11-01 $547,425 (21.8%) $660,806 (7.9%) 0.00 351
    2022-12-01 $552,350 (19.6%) $670,615 (8.9%) 0.00 320
    2023-01-01 $551,175 (16.0%) $687,578 (13.1%) 0.00 285
    2023-02-01 $549,925 (14.8%) $680,483 (11.6%) 0.00 290
    2023-03-01 $549,850 (13.5%) $702,072 (10.8%) 0.00 290
    2023-04-01 $569,000 (16.9%) $714,988 (12.5%) 0.00 280
    2023-05-01 $550,000 (7.6%) $696,546 (2.1%) 0.00 275
    2023-06-01 $576,250 (9.8%) $718,237 (3.1%) 0.00 285
    2023-07-01 $587,575 (8.8%) $733,432 (3.8%) 0.00 278
    2023-08-01 $593,250 (6.0%) $754,410 (4.4%) 0.00 282
    2023-09-01 $595,000 (7.6%) $778,551 (8.0%) 0.00 305
    2023-10-01 $609,925 (10.9%) $808,786 (16.0%) 0.00 312
    2023-11-01 $602,475 (10.1%) $791,650 (19.8%) 0.00 328
    2023-12-01 $599,900 (8.6%) $772,642 (15.2%) 0.00 329
    2024-01-01 $598,650 (8.6%) $736,826 (7.2%) 0.00 338
    2024-02-01 $598,950 (8.9%) $753,647 (10.8%) 0.00 364
    2024-03-01 $599,900 (9.1%) $770,159 (9.7%) 0.00 402
    Morehead City's median listing price for 2024-03-01 was $599,900, a difference of $50,050 (9.1%) versus the prior year and $950 versus the prior month.

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

    Morehead City's average listing price for 2024-03-01 was $770,159, a difference of $68,087 (9.7%) versus the prior year and $16,512 versus the prior month.

    For the 2024-03-01 period, Morehead City had 402 MLS listings, a difference of 38 listings (10%) versus the prior month and 112 listings (39%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Morehead City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,716 sqft
    2018-02-01 0 days 1,750 sqft
    2018-03-01 0 days 1,784 sqft
    2018-04-01 0 days 1,787 sqft
    2018-05-01 0 days 1,831 sqft
    2018-06-01 0 days 1,841 sqft
    2018-07-01 0 days 1,864 sqft
    2018-08-01 0 days 1,867 sqft
    2018-09-01 0 days 1,862 sqft
    2018-10-01 0 days 1,845 sqft
    2018-11-01 0 days 1,806 sqft
    2018-12-01 0 days 1,789 sqft
    2019-01-01 0 days 1,783 sqft
    2019-02-01 0 days 1,796 sqft
    2019-03-01 0 days 1,814 sqft
    2019-04-01 0 days 1,819 sqft
    2019-05-01 0 days 1,922 sqft
    2019-06-01 0 days 1,944 sqft
    2019-07-01 0 days 1,952 sqft
    2019-08-01 0 days 1,969 sqft
    2019-09-01 0 days 1,953 sqft
    2019-10-01 0 days 1,922 sqft
    2019-11-01 0 days 1,863 sqft
    2019-12-01 0 days 1,825 sqft
    2020-01-01 0 days 1,798 sqft
    2020-02-01 0 days 1,795 sqft
    2020-03-01 0 days 1,789 sqft
    2020-04-01 0 days 1,795 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,923 sqft
    2020-07-01 0 days 1,944 sqft
    2020-08-01 0 days 1,920 sqft
    2020-09-01 0 days 1,890 sqft
    2020-10-01 0 days 1,874 sqft
    2020-11-01 0 days 1,847 sqft
    2020-12-01 0 days 1,854 sqft
    2021-01-01 0 days 1,860 sqft
    2021-02-01 0 days 1,942 sqft
    2021-03-01 0 days 1,959 sqft
    2021-04-01 0 days 1,974 sqft
    2021-05-01 0 days 1,951 sqft
    2021-06-01 0 days 1,901 sqft
    2021-07-01 0 days 1,850 sqft
    2021-08-01 0 days 1,850 sqft
    2021-09-01 0 days 1,821 sqft
    2021-10-01 0 days 1,820 sqft
    2021-11-01 0 days 1,792 sqft
    2021-12-01 0 days 1,784 sqft
    2022-01-01 0 days 1,790 sqft
    2022-02-01 0 days 1,808 sqft
    2022-03-01 0 days 1,802 sqft
    2022-04-01 0 days 1,802 sqft
    2022-05-01 0 days 1,979 sqft
    2022-06-01 0 days 1,926 sqft
    2022-07-01 0 days 1,887 sqft
    2022-08-01 0 days 2,000 sqft
    2022-09-01 0 days 1,976 sqft
    2022-10-01 0 days 1,960 sqft
    2022-11-01 0 days 1,914 sqft
    2022-12-01 0 days 1,881 sqft
    2023-01-01 0 days 1,875 sqft
    2023-02-01 0 days 1,918 sqft
    2023-03-01 0 days 1,910 sqft
    2023-04-01 0 days 1,937 sqft
    2023-05-01 0 days 1,999 sqft
    2023-06-01 0 days 1,972 sqft
    2023-07-01 0 days 1,970 sqft
    2023-08-01 0 days 1,906 sqft
    2023-09-01 0 days 1,926 sqft
    2023-10-01 0 days 1,910 sqft
    2023-11-01 0 days 1,871 sqft
    2023-12-01 0 days 1,800 sqft
    2024-01-01 0 days 1,800 sqft
    2024-02-01 0 days 1,765 sqft
    2024-03-01 0 days 1,797 sqft
    Morehead City's median listing age (time on market) for 2024-03-01 was 0 days.

    Morehead City's median square footage for active listings during the 2024-03-01 period was 1,797 sqft. One year prior, the average listing was 1,910 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.