Morehead City VA Loan Rates, Closing Costs & Stats

Morehead City, 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.

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 6.49% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.34% and one month ago for the week of 2024-03-08, the average rate was 6.57%.

The average rate one year ago was 5.77%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.67%.

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.