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 6.36% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.61% and one month ago for the week of 2024-10-04, the average rate was 5.64%.

    The average rate one year ago was 7.3%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.24%.

    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%).

    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.