Myrtle Beach VA Loan Rates, Closing Costs & Stats
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-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.
Myrtle Beach's 169 lenders originated 1,911 VA loans during 2022. The total origination value was $597,205,000, with an average VA loan value of $312,509.
Myrtle Beach VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Myrtle Beach
averaged
6.48%
for the week of 2023-09-22, compared to the national average (all VA variants) of
6.823% for the same period.
Myrtle Beach's average VA mortgage closing costs are $5,451.
The average rate for the prior week (2023-09-15) was
6.36% and
one month ago for the week of 2023-08-18, the
average rate was 6.44%.
The average rate one year ago was 5.3%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.59%.
Myrtle Beach 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 Myrtle Beach level.
The top Myrtle Beach VA lender as defined by loan originations is Mortgage Research Center, LLC, with
217 VA loans originated. Their average total fees are
$7,511, which is $1,171
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Myrtle Beach VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($4,164), Wells Fargo Bank ($4,919), EAGLE HOME MORTGAGE, LLC ($5,122), NAVY FEDERAL CREDIT UNION ($5,992) and DHI MORTGAGE COMPANY, LTD. ($6,339).
The lowest rate Myrtle Beach VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (3.29%), PENNYMAC LOAN SERVICES, LLC (3.32%), LOANDEPOT.COM, LLC (3.72%), Wells Fargo Bank (3.82%) and CALIBER HOME LOANS, INC. (3.85%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Myrtle Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $245,138 (6.7%) | $318,063 (7.5%) | 0.91 | 6,620 |
2018-02-01 | $247,883 (7.8%) | $316,139 (6.3%) | 0.90 | 6,801 |
2018-03-01 | $249,000 (6.0%) | $319,239 (5.6%) | 0.87 | 7,002 |
2018-04-01 | $249,900 (4.6%) | $326,080 (4.8%) | 0.85 | 7,013 |
2018-05-01 | $253,150 (5.5%) | $329,170 (4.6%) | 0.85 | 6,946 |
2018-06-01 | $259,900 (7.7%) | $335,093 (4.2%) | 0.87 | 6,846 |
2018-07-01 | $260,000 (6.2%) | $335,340 (4.9%) | 0.87 | 6,692 |
2018-08-01 | $259,000 (4.9%) | $332,048 (3.2%) | 0.87 | 6,738 |
2018-09-01 | $257,500 (3.4%) | $332,235 (2.8%) | 0.87 | 6,653 |
2018-10-01 | $249,981 (0.6%) | $324,602 (0.8%) | 0.85 | 6,639 |
2018-11-01 | $251,481 (2.7%) | $323,891 (0.5%) | 0.85 | 6,609 |
2018-12-01 | $250,000 (2.0%) | $321,119 (0.0%) | 0.86 | 6,575 |
2019-01-01 | $251,906 (2.8%) | $319,246 (0.4%) | 0.87 | 6,506 |
2019-02-01 | $252,950 (2.0%) | $321,960 (1.8%) | 0.85 | 6,772 |
2019-03-01 | $255,386 (2.6%) | $324,400 (1.6%) | 0.84 | 6,993 |
2019-04-01 | $259,900 (4.0%) | $329,131 (0.9%) | 0.83 | 7,191 |
2019-05-01 | $264,238 (4.4%) | $334,518 (1.6%) | 0.83 | 7,137 |
2019-06-01 | $263,500 (1.4%) | $334,366 (-0.2%) | 0.82 | 7,091 |
2019-07-01 | $259,983 (0.0%) | $333,905 (-0.4%) | 0.81 | 7,009 |
2019-08-01 | $262,136 (1.2%) | $335,823 (1.1%) | 0.83 | 6,928 |
2019-09-01 | $265,378 (3.1%) | $336,818 (1.4%) | 0.85 | 6,854 |
2019-10-01 | $267,085 (6.8%) | $336,839 (3.8%) | 0.86 | 6,811 |
2019-11-01 | $265,000 (5.4%) | $336,543 (3.9%) | 0.87 | 6,772 |
2019-12-01 | $264,900 (6.0%) | $335,038 (4.3%) | 0.88 | 6,574 |
2020-01-01 | $259,900 (3.2%) | $331,095 (3.7%) | 0.87 | 6,355 |
2020-02-01 | $260,447 (3.0%) | $331,912 (3.1%) | 0.85 | 6,403 |
2020-03-01 | $261,100 (2.2%) | $334,907 (3.2%) | 0.82 | 6,594 |
2020-04-01 | $259,700 (-0.1%) | $330,333 (0.4%) | 0.81 | 6,868 |
2020-05-01 | $261,092 (-1.2%) | $335,944 (0.4%) | 0.79 | 6,629 |
2020-06-01 | $264,900 (0.5%) | $338,597 (1.3%) | 0.78 | 5,942 |
2020-07-01 | $262,412 (0.9%) | $338,772 (1.5%) | 0.76 | 5,602 |
2020-08-01 | $259,995 (-0.8%) | $338,185 (0.7%) | 0.75 | 5,387 |
2020-09-01 | $259,900 (-2.1%) | $340,523 (1.1%) | 0.74 | 5,051 |
2020-10-01 | $261,240 (-2.2%) | $345,531 (2.6%) | 0.75 | 4,804 |
2020-11-01 | $263,310 (-0.6%) | $344,316 (2.3%) | 0.77 | 4,546 |
2020-12-01 | $259,900 (-1.9%) | $339,693 (1.4%) | 0.77 | 4,426 |
2021-01-01 | $259,240 (-0.3%) | $336,513 (1.6%) | 0.77 | 4,062 |
2021-02-01 | $261,852 (0.5%) | $341,283 (2.8%) | 0.76 | 3,446 |
2021-03-01 | $272,735 (4.5%) | $358,381 (7.0%) | 0.77 | 2,921 |
2021-04-01 | $290,693 (11.9%) | $380,479 (15.2%) | 0.79 | 2,460 |
2021-05-01 | $309,990 (18.7%) | $415,070 (23.6%) | 0.82 | 1,972 |
2021-06-01 | $327,500 (23.6%) | $438,192 (29.4%) | 0.86 | 1,869 |
2021-07-01 | $359,349 (36.9%) | $455,694 (34.5%) | 0.95 | 1,955 |
2021-08-01 | $357,104 (37.4%) | $455,953 (34.8%) | 0.95 | 2,199 |
2021-09-01 | $353,884 (36.2%) | $452,691 (32.9%) | 0.94 | 2,326 |
2021-10-01 | $365,495 (39.9%) | $463,217 (34.1%) | 0.97 | 2,373 |
2021-11-01 | $364,570 (38.5%) | $463,431 (34.6%) | 0.97 | 2,284 |
2021-12-01 | $369,950 (42.3%) | $466,931 (37.5%) | 1.00 | 1,983 |
2022-01-01 | $371,165 (43.2%) | $469,788 (39.6%) | 1.00 | 1,770 |
2022-02-01 | $392,365 (49.8%) | $512,077 (50.0%) | 1.02 | 1,351 |
2022-03-01 | $399,450 (46.5%) | $520,580 (45.3%) | 1.00 | 1,347 |
2022-04-01 | $398,645 (37.1%) | $522,141 (37.2%) | 0.95 | 1,554 |
2022-05-01 | $389,381 (25.6%) | $513,945 (23.8%) | 0.89 | 2,136 |
2022-06-01 | $389,000 (18.8%) | $510,222 (16.4%) | 0.87 | 2,687 |
2022-07-01 | $382,395 (6.4%) | $498,662 (9.4%) | 0.86 | 3,323 |
2022-08-01 | $380,285 (6.5%) | $488,210 (7.1%) | 0.88 | 3,630 |
2022-09-01 | $382,450 (8.1%) | $486,914 (7.6%) | 0.89 | 3,897 |
2022-10-01 | $379,000 (3.7%) | $480,712 (3.8%) | 0.89 | 4,148 |
2022-11-01 | $373,685 (2.5%) | $470,263 (1.5%) | 0.90 | 4,437 |
2022-12-01 | $365,650 (-1.2%) | $462,227 (-1.0%) | 0.90 | 4,471 |
2023-01-01 | $362,500 (-2.3%) | $457,971 (-2.5%) | 0.90 | 4,284 |
2023-02-01 | $363,538 (-7.4%) | $457,963 (-10.6%) | 0.88 | 4,035 |
2023-03-01 | $364,988 (-8.6%) | $461,709 (-11.3%) | 0.86 | 3,924 |
2023-04-01 | $366,591 (-8.0%) | $470,328 (-9.9%) | 0.85 | 3,851 |
2023-05-01 | $366,075 (-6.0%) | $466,303 (-9.3%) | 0.83 | 3,966 |
2023-06-01 | $365,345 (-6.1%) | $468,341 (-8.2%) | 0.82 | 4,035 |
2023-07-01 | $359,900 (-5.9%) | $464,238 (-6.9%) | 0.82 | 4,168 |
2023-08-01 | $355,784 (-6.4%) | $494,873 (1.4%) | 0.82 | 4,349 |
Myrtle Beach's median listing price comes in at 82% of the national average.
Myrtle Beach's average listing price for 2023-08-01 was $494,873, a difference of $6,663 (1.4%) versus the prior year and $30,635 versus the prior month.
For the 2023-08-01 period, Myrtle Beach had 4,349 MLS listings, a difference of 181 listings (4%) versus the prior month and 719 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Myrtle Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 99 days | 1,701 sqft |
2018-02-01 | 94 days | 1,701 sqft |
2018-03-01 | 75 days | 1,701 sqft |
2018-04-01 | 73 days | 1,701 sqft |
2018-05-01 | 73 days | 1,701 sqft |
2018-06-01 | 79 days | 1,701 sqft |
2018-07-01 | 85 days | 1,701 sqft |
2018-08-01 | 82 days | 1,701 sqft |
2018-09-01 | 87 days | 1,701 sqft |
2018-10-01 | 91 days | 1,647 sqft |
2018-11-01 | 95 days | 1,648 sqft |
2018-12-01 | 102 days | 1,651 sqft |
2019-01-01 | 94 days | 1,626 sqft |
2019-02-01 | 89 days | 1,604 sqft |
2019-03-01 | 79 days | 1,559 sqft |
2019-04-01 | 73 days | 1,504 sqft |
2019-05-01 | 76 days | 1,518 sqft |
2019-06-01 | 81 days | 1,550 sqft |
2019-07-01 | 82 days | 1,599 sqft |
2019-08-01 | 84 days | 1,603 sqft |
2019-09-01 | 84 days | 1,605 sqft |
2019-10-01 | 85 days | 1,604 sqft |
2019-11-01 | 86 days | 1,602 sqft |
2019-12-01 | 90 days | 1,650 sqft |
2020-01-01 | 96 days | 1,650 sqft |
2020-02-01 | 93 days | 1,651 sqft |
2020-03-01 | 71 days | 1,650 sqft |
2020-04-01 | 76 days | 1,650 sqft |
2020-05-01 | 86 days | 1,650 sqft |
2020-06-01 | 92 days | 1,679 sqft |
2020-07-01 | 77 days | 1,676 sqft |
2020-08-01 | 68 days | 1,659 sqft |
2020-09-01 | 68 days | 1,650 sqft |
2020-10-01 | 68 days | 1,647 sqft |
2020-11-01 | 69 days | 1,631 sqft |
2020-12-01 | 72 days | 1,620 sqft |
2021-01-01 | 75 days | 1,607 sqft |
2021-02-01 | 72 days | 1,600 sqft |
2021-03-01 | 55 days | 1,603 sqft |
2021-04-01 | 51 days | 1,651 sqft |
2021-05-01 | 46 days | 1,667 sqft |
2021-06-01 | 41 days | 1,680 sqft |
2021-07-01 | 37 days | 1,720 sqft |
2021-08-01 | 35 days | 1,728 sqft |
2021-09-01 | 39 days | 1,736 sqft |
2021-10-01 | 41 days | 1,835 sqft |
2021-11-01 | 44 days | 1,807 sqft |
2021-12-01 | 57 days | 1,813 sqft |
2022-01-01 | 64 days | 1,822 sqft |
2022-02-01 | 48 days | 1,815 sqft |
2022-03-01 | 37 days | 1,808 sqft |
2022-04-01 | 29 days | 1,727 sqft |
2022-05-01 | 26 days | 1,708 sqft |
2022-06-01 | 32 days | 1,699 sqft |
2022-07-01 | 39 days | 1,668 sqft |
2022-08-01 | 45 days | 1,670 sqft |
2022-09-01 | 52 days | 1,691 sqft |
2022-10-01 | 58 days | 1,702 sqft |
2022-11-01 | 65 days | 1,702 sqft |
2022-12-01 | 67 days | 1,711 sqft |
2023-01-01 | 76 days | 1,701 sqft |
2023-02-01 | 79 days | 1,712 sqft |
2023-03-01 | 62 days | 1,720 sqft |
2023-04-01 | 53 days | 1,715 sqft |
2023-05-01 | 51 days | 1,701 sqft |
2023-06-01 | 51 days | 1,674 sqft |
2023-07-01 | 55 days | 1,648 sqft |
2023-08-01 | 55 days | 1,618 sqft |
Myrtle Beach's median square footage for active listings during the 2023-08-01 period was 1,618 sqft. One year prior, the average listing was 1,670 sqft.