Mount Airy VA Loan Rates, Closing Costs & Stats

Mount Airy, 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.

    Mount Airy's 24 lenders originated 62 VA loans during 2023. The total origination value was $16,170,000, with an average VA loan value of $260,806.

    Mount Airy VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Mount Airy averaged 7.08% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Mount Airy's average VA mortgage closing costs are $4,949.

    The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.58%.

    The average rate one year ago was 6.37%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Mount Airy 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 Mount Airy level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.72% $5,440
    Renasant Bank 5 5.95% $5,070
    INTERCOASTAL MORTGAGE COMPANY 4 6.56% $10,889
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.75% $3,830
    QUICKEN LOANS, LLC 3 5.83% $7,417
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.69% $3,577
    PENNYMAC LOAN SERVICES, LLC 2 5.25% $7,394
    NEW DAY FINANCIAL, LLC 2 6.63% $8,744
    UNITED WHOLESALE MORTGAGE, LLC 2 6.37% $11,603
    MOVEMENT MORTGAGE, LLC 2 6.50% $4,807
    Pinnacle Bank 1 6.88% $4,691
    Sunflower Bank 1 6.99% $8,361
    Truist 1 5.60% $4,384
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $21,145
    USAA Federal Savings Bank 1 6.50% $7,247
    Chickasaw Community Bank 1 7.75% $13,134
    CROSSCOUNTRY MORTGAGE, LLC 1 6.50% $10,367
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $7,465
    FIRST HOME MORTGAGE CORPORATION 1 6.63% $12,804
    FREEDOM MORTGAGE CORPORATION 1 6.75% $15,857
    LOANDEPOT.COM, LLC 1 6.63% $6,437
    Mid-Continent Funding, Inc. 1 5.75% $5,666
    MORTGAGE ACCESS CORP. 1 6.00% $5,507
    NAVY FEDERAL CREDIT UNION 1 5.13% $2,186

    The top Mount Airy VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $5,440, which is $370 higher than the next largest lender, Renasant Bank.

    The lowest fee Mount Airy VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,440), .

    The lowest rate Mount Airy VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.72%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mount Airy (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 $161,175 (1.1%) $259,624 (10.4%) 0.00 243
    2018-02-01 $160,425 (4.6%) $269,994 (20.1%) 0.00 242
    2018-03-01 $185,250 (22.3%) $281,341 (24.2%) 0.00 242
    2018-04-01 $192,860 (20.6%) $289,389 (21.7%) 0.00 239
    2018-05-01 $218,675 (28.7%) $297,304 (20.3%) 0.00 239
    2018-06-01 $199,450 (15.7%) $285,622 (12.9%) 0.00 238
    2018-07-01 $184,350 (2.5%) $259,159 (0.8%) 0.00 248
    2018-08-01 $165,925 (-10.3%) $239,215 (-8.0%) 0.00 193
    2018-09-01 $189,450 (5.3%) $253,577 (-9.0%) 0.00 175
    2018-10-01 $179,475 (3.2%) $245,943 (-10.0%) 0.00 177
    2018-11-01 $189,000 (11.2%) $256,218 (-2.8%) 0.00 159
    2018-12-01 $189,450 (5.3%) $266,243 (-1.3%) 0.00 143
    2019-01-01 $195,925 (21.6%) $267,679 (3.1%) 0.00 143
    2019-02-01 $191,900 (19.6%) $269,452 (-0.2%) 0.00 141
    2019-03-01 $206,371 (11.4%) $271,788 (-3.4%) 0.00 143
    2019-04-01 $213,921 (10.9%) $278,225 (-3.9%) 0.00 147
    2019-05-01 $215,000 (-1.7%) $277,604 (-6.6%) 0.00 149
    2019-06-01 $204,900 (2.7%) $289,405 (1.3%) 0.00 143
    2019-07-01 $199,325 (8.1%) $273,728 (5.6%) 0.00 157
    2019-08-01 $198,359 (19.6%) $273,591 (14.4%) 0.00 154
    2019-09-01 $197,848 (4.4%) $276,538 (9.1%) 0.00 151
    2019-10-01 $201,232 (12.1%) $284,288 (15.6%) 0.00 147
    2019-11-01 $199,999 (5.8%) $301,954 (17.9%) 0.00 147
    2019-12-01 $219,450 (15.8%) $302,161 (13.5%) 0.00 136
    2020-01-01 $192,400 (-1.8%) $301,927 (12.8%) 0.00 130
    2020-02-01 $189,900 (-1.0%) $285,010 (5.8%) 0.00 133
    2020-03-01 $199,950 (-3.1%) $286,727 (5.5%) 0.00 123
    2020-04-01 $217,450 (1.7%) $299,492 (7.6%) 0.00 121
    2020-05-01 $229,900 (6.9%) $305,226 (10.0%) 0.00 112
    2020-06-01 $247,450 (20.8%) $344,253 (19.0%) 0.00 108
    2020-07-01 $242,925 (21.9%) $327,286 (19.6%) 0.00 114
    2020-08-01 $239,000 (20.5%) $337,159 (23.2%) 0.00 107
    2020-09-01 $238,675 (20.6%) $334,358 (20.9%) 0.00 101
    2020-10-01 $251,855 (25.2%) $348,292 (22.5%) 0.00 94
    2020-11-01 $241,300 (20.7%) $340,198 (12.7%) 0.00 92
    2020-12-01 $199,900 (-8.9%) $320,487 (6.1%) 0.00 78
    2021-01-01 $227,450 (18.2%) $346,839 (14.9%) 0.00 63
    2021-02-01 $263,475 (38.7%) $360,935 (26.6%) 0.00 58
    2021-03-01 $266,350 (33.2%) $380,219 (32.6%) 0.00 52
    2021-04-01 $257,400 (18.4%) $388,227 (29.6%) 0.00 53
    2021-05-01 $249,000 (8.3%) $360,177 (18.0%) 0.00 65
    2021-06-01 $257,400 (4.0%) $379,835 (10.3%) 0.00 71
    2021-07-01 $244,900 (0.8%) $380,932 (16.4%) 0.00 79
    2021-08-01 $251,750 (5.3%) $355,332 (5.4%) 0.00 90
    2021-09-01 $258,800 (8.4%) $356,882 (6.7%) 0.00 88
    2021-10-01 $259,900 (3.2%) $362,545 (4.1%) 0.00 83
    2021-11-01 $217,423 (-9.9%) $327,529 (-3.7%) 0.00 79
    2021-12-01 $212,000 (6.1%) $318,446 (-0.6%) 0.00 69
    2022-01-01 $236,000 (3.8%) $324,053 (-6.6%) 0.00 56
    2022-02-01 $238,675 (-9.4%) $331,303 (-8.2%) 0.00 53
    2022-03-01 $229,450 (-13.9%) $349,483 (-8.1%) 0.00 43
    2022-04-01 $219,500 (-14.7%) $300,468 (-22.6%) 0.00 40
    2022-05-01 $218,450 (-12.3%) $298,067 (-17.2%) 0.00 43
    2022-06-01 $256,700 (-0.3%) $331,897 (-12.6%) 0.00 67
    2022-07-01 $293,000 (19.6%) $348,041 (-8.6%) 0.00 76
    2022-08-01 $295,000 (17.2%) $389,123 (9.5%) 0.00 88
    2022-09-01 $272,450 (5.3%) $356,759 (0.0%) 0.00 100
    2022-10-01 $269,000 (3.5%) $368,523 (1.7%) 0.00 102
    2022-11-01 $285,975 (31.5%) $368,067 (12.4%) 0.00 101
    2022-12-01 $275,500 (30.0%) $348,445 (9.4%) 0.00 93
    2023-01-01 $277,750 (17.7%) $349,752 (7.9%) 0.00 84
    2023-02-01 $274,900 (15.2%) $340,632 (2.8%) 0.00 76
    2023-03-01 $283,200 (23.4%) $349,657 (0.1%) 0.00 67
    2023-04-01 $289,900 (32.1%) $357,186 (18.9%) 0.00 59
    2023-05-01 $282,400 (29.3%) $358,597 (20.3%) 0.00 56
    2023-06-01 $287,400 (12.0%) $363,768 (9.6%) 0.00 57
    2023-07-01 $257,000 (-12.3%) $338,811 (-2.7%) 0.00 72
    2023-08-01 $296,725 (0.6%) $362,308 (-6.9%) 0.00 75
    2023-09-01 $310,000 (13.8%) $381,502 (6.9%) 0.00 69
    2023-10-01 $299,500 (11.3%) $387,562 (5.2%) 0.00 83
    2023-11-01 $299,450 (4.7%) $382,577 (3.9%) 0.00 101
    2023-12-01 $292,450 (6.2%) $377,663 (8.4%) 0.00 97
    2024-01-01 $318,675 (14.7%) $402,941 (15.2%) 0.00 87
    2024-02-01 $299,900 (9.1%) $391,927 (15.1%) 0.00 93
    2024-03-01 $299,950 (5.9%) $387,697 (10.9%) 0.00 92
    Mount Airy's median listing price for 2024-03-01 was $299,950, a difference of $16,750 (5.9%) versus the prior year and $50 versus the prior month.

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

    Mount Airy's average listing price for 2024-03-01 was $387,697, a difference of $38,040 (10.9%) versus the prior year and $-4,230 versus the prior month.

    For the 2024-03-01 period, Mount Airy had 92 MLS listings, a difference of -1 listings (-1%) versus the prior month and 25 listings (37%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mount Airy (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,983 sqft
    2018-02-01 0 days 1,826 sqft
    2018-03-01 0 days 1,900 sqft
    2018-04-01 0 days 2,007 sqft
    2018-05-01 0 days 2,068 sqft
    2018-06-01 0 days 2,055 sqft
    2018-07-01 0 days 2,012 sqft
    2018-08-01 0 days 1,942 sqft
    2018-09-01 0 days 1,971 sqft
    2018-10-01 0 days 1,977 sqft
    2018-11-01 0 days 1,993 sqft
    2018-12-01 0 days 1,987 sqft
    2019-01-01 0 days 1,987 sqft
    2019-02-01 0 days 2,053 sqft
    2019-03-01 0 days 2,075 sqft
    2019-04-01 0 days 2,032 sqft
    2019-05-01 0 days 2,047 sqft
    2019-06-01 0 days 2,315 sqft
    2019-07-01 0 days 2,184 sqft
    2019-08-01 0 days 2,432 sqft
    2019-09-01 0 days 2,326 sqft
    2019-10-01 0 days 2,179 sqft
    2019-11-01 0 days 2,042 sqft
    2019-12-01 0 days 1,985 sqft
    2020-01-01 0 days 1,993 sqft
    2020-02-01 0 days 2,924 sqft
    2020-03-01 0 days 2,344 sqft
    2020-04-01 0 days 2,904 sqft
    2020-05-01 0 days 2,924 sqft
    2020-06-01 0 days 2,508 sqft
    2020-07-01 0 days 2,426 sqft
    2020-08-01 0 days 2,426 sqft
    2020-09-01 0 days 2,380 sqft
    2020-10-01 0 days 3,168 sqft
    2020-11-01 0 days 2,428 sqft
    2020-12-01 0 days 2,333 sqft
    2021-01-01 0 days 2,396 sqft
    2021-02-01 0 days 2,472 sqft
    2021-03-01 0 days 2,464 sqft
    2021-04-01 0 days 2,180 sqft
    2021-05-01 0 days 2,422 sqft
    2021-06-01 0 days 2,561 sqft
    2021-07-01 0 days 2,561 sqft
    2021-08-01 0 days 3,506 sqft
    2021-09-01 0 days 3,506 sqft
    2021-10-01 0 days 3,518 sqft
    2021-11-01 0 days 2,402 sqft
    2021-12-01 0 days 2,161 sqft
    2022-01-01 0 days 2,134 sqft
    2022-02-01 0 days 1,970 sqft
    2022-03-01 0 days 1,727 sqft
    2022-04-01 0 days 1,764 sqft
    2022-05-01 0 days 1,982 sqft
    2022-06-01 0 days 2,411 sqft
    2022-07-01 0 days 2,285 sqft
    2022-08-01 0 days 1,995 sqft
    2022-09-01 0 days 1,782 sqft
    2022-10-01 0 days 1,534 sqft
    2022-11-01 0 days 1,824 sqft
    2022-12-01 0 days 1,474 sqft
    2023-01-01 0 days 1,554 sqft
    2023-02-01 0 days 1,457 sqft
    2023-03-01 0 days 1,880 sqft
    2023-04-01 0 days 2,025 sqft
    2023-05-01 0 days 2,068 sqft
    2023-06-01 0 days 1,600 sqft
    2023-07-01 0 days 1,518 sqft
    2023-08-01 0 days 1,559 sqft
    2023-09-01 0 days 1,518 sqft
    2023-10-01 0 days 1,576 sqft
    2023-11-01 0 days 1,637 sqft
    2023-12-01 0 days 1,978 sqft
    2024-01-01 0 days 1,923 sqft
    2024-02-01 0 days 1,579 sqft
    2024-03-01 0 days 2,015 sqft
    Mount Airy's median listing age (time on market) for 2024-03-01 was 0 days.

    Mount Airy's median square footage for active listings during the 2024-03-01 period was 2,015 sqft. One year prior, the average listing was 1,880 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.