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 158 lenders originated 1,540 VA loans during 2023. The total origination value was $495,520,000, with an average VA loan value of $321,766.
Myrtle Beach VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Myrtle Beach
averaged
6.7%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Myrtle Beach's average VA mortgage closing costs are $5,777.
The average rate for the prior week (2024-04-12) was
6.83% and
one month ago for the week of 2024-03-15, the
average rate was 6.79%.
The average rate one year ago was 6.38%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.09%.
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 DHI MORTGAGE COMPANY, LTD., with
200 VA loans originated. Their average total fees are
$5,800, which is $1,380
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Myrtle Beach VA lenders (with over 10 loans originated) are
PULTE MORTGAGE LLC ($1,400), MORTGAGE SOLUTIONS OF COLORADO, LLC ($4,295), NVR Mortgage Finance, Inc. ($4,938), NAVY FEDERAL CREDIT UNION ($5,298) and DHI MORTGAGE COMPANY, LTD. ($5,800).
The lowest rate Myrtle Beach VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.34%), PENTAGON FEDERAL CREDIT UNION (5.47%), PENNYMAC LOAN SERVICES, LLC (5.69%), NAVY FEDERAL CREDIT UNION (5.73%) and EAGLE HOME MORTGAGE, LLC (5.87%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Myrtle Beach (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 | $245,345 (6.7%) | $318,253 (7.4%) | 0.91 | 6,641 |
| 2018-02-01 | $247,531 (7.7%) | $316,233 (6.2%) | 0.90 | 6,823 |
| 2018-03-01 | $249,000 (6.0%) | $319,276 (5.5%) | 0.87 | 7,024 |
| 2018-04-01 | $249,900 (4.6%) | $326,046 (4.7%) | 0.85 | 7,034 |
| 2018-05-01 | $252,498 (5.3%) | $329,157 (4.6%) | 0.84 | 6,969 |
| 2018-06-01 | $259,900 (7.7%) | $335,091 (4.2%) | 0.87 | 6,870 |
| 2018-07-01 | $260,213 (6.3%) | $335,520 (4.8%) | 0.87 | 6,710 |
| 2018-08-01 | $259,168 (4.8%) | $332,222 (3.2%) | 0.87 | 6,759 |
| 2018-09-01 | $257,500 (3.4%) | $332,379 (2.8%) | 0.87 | 6,671 |
| 2018-10-01 | $249,988 (0.4%) | $324,731 (0.7%) | 0.85 | 6,660 |
| 2018-11-01 | $250,950 (2.4%) | $323,931 (0.4%) | 0.85 | 6,630 |
| 2018-12-01 | $250,000 (2.0%) | $321,139 (-0.1%) | 0.86 | 6,596 |
| 2019-01-01 | $251,695 (2.6%) | $319,625 (0.4%) | 0.87 | 6,529 |
| 2019-02-01 | $253,050 (2.2%) | $322,489 (2.0%) | 0.85 | 6,791 |
| 2019-03-01 | $255,449 (2.6%) | $324,972 (1.8%) | 0.84 | 7,012 |
| 2019-04-01 | $259,900 (4.0%) | $329,551 (1.1%) | 0.83 | 7,209 |
| 2019-05-01 | $264,200 (4.6%) | $334,994 (1.8%) | 0.83 | 7,160 |
| 2019-06-01 | $263,500 (1.4%) | $334,669 (-0.1%) | 0.82 | 7,110 |
| 2019-07-01 | $260,000 (-0.1%) | $334,427 (-0.3%) | 0.81 | 7,030 |
| 2019-08-01 | $262,155 (1.2%) | $336,308 (1.2%) | 0.83 | 6,949 |
| 2019-09-01 | $265,386 (3.1%) | $337,239 (1.5%) | 0.85 | 6,879 |
| 2019-10-01 | $266,898 (6.8%) | $337,202 (3.8%) | 0.86 | 6,836 |
| 2019-11-01 | $265,000 (5.6%) | $336,929 (4.0%) | 0.87 | 6,796 |
| 2019-12-01 | $264,900 (6.0%) | $335,154 (4.4%) | 0.88 | 6,596 |
| 2020-01-01 | $259,900 (3.3%) | $331,222 (3.6%) | 0.87 | 6,376 |
| 2020-02-01 | $262,000 (3.5%) | $332,703 (3.2%) | 0.86 | 6,431 |
| 2020-03-01 | $261,200 (2.3%) | $335,754 (3.3%) | 0.82 | 6,621 |
| 2020-04-01 | $259,900 (0.0%) | $331,226 (0.5%) | 0.81 | 6,894 |
| 2020-05-01 | $261,995 (-0.8%) | $336,674 (0.5%) | 0.80 | 6,652 |
| 2020-06-01 | $264,900 (0.5%) | $339,381 (1.4%) | 0.78 | 5,962 |
| 2020-07-01 | $262,450 (0.9%) | $339,663 (1.6%) | 0.76 | 5,620 |
| 2020-08-01 | $260,444 (-0.7%) | $339,148 (0.8%) | 0.75 | 5,405 |
| 2020-09-01 | $260,120 (-2.0%) | $341,248 (1.2%) | 0.75 | 5,068 |
| 2020-10-01 | $262,990 (-1.5%) | $346,093 (2.6%) | 0.75 | 4,835 |
| 2020-11-01 | $264,200 (-0.3%) | $344,601 (2.3%) | 0.77 | 4,582 |
| 2020-12-01 | $259,995 (-1.9%) | $339,941 (1.4%) | 0.77 | 4,469 |
| 2021-01-01 | $259,900 (0.0%) | $337,006 (1.8%) | 0.78 | 4,104 |
| 2021-02-01 | $262,896 (0.3%) | $341,440 (2.6%) | 0.77 | 3,484 |
| 2021-03-01 | $273,015 (4.5%) | $358,533 (6.8%) | 0.77 | 2,947 |
| 2021-04-01 | $291,175 (12.0%) | $380,422 (14.9%) | 0.79 | 2,476 |
| 2021-05-01 | $311,185 (18.8%) | $415,825 (23.5%) | 0.83 | 1,986 |
| 2021-06-01 | $329,000 (24.2%) | $438,907 (29.3%) | 0.87 | 1,883 |
| 2021-07-01 | $358,900 (36.8%) | $456,133 (34.3%) | 0.95 | 1,966 |
| 2021-08-01 | $358,198 (37.5%) | $456,808 (34.7%) | 0.96 | 2,211 |
| 2021-09-01 | $356,348 (37.0%) | $453,854 (33.0%) | 0.95 | 2,343 |
| 2021-10-01 | $366,045 (39.2%) | $464,347 (34.2%) | 0.98 | 2,391 |
| 2021-11-01 | $365,539 (38.4%) | $464,570 (34.8%) | 0.98 | 2,302 |
| 2021-12-01 | $370,533 (42.5%) | $468,922 (37.9%) | 1.00 | 1,999 |
| 2022-01-01 | $372,000 (43.1%) | $471,861 (40.0%) | 1.01 | 1,785 |
| 2022-02-01 | $394,808 (50.2%) | $512,079 (50.0%) | 1.03 | 1,362 |
| 2022-03-01 | $399,555 (46.4%) | $520,708 (45.2%) | 1.00 | 1,358 |
| 2022-04-01 | $399,000 (37.0%) | $522,855 (37.4%) | 0.95 | 1,570 |
| 2022-05-01 | $389,900 (25.3%) | $514,022 (23.6%) | 0.89 | 2,152 |
| 2022-06-01 | $389,655 (18.4%) | $510,846 (16.4%) | 0.87 | 2,705 |
| 2022-07-01 | $383,663 (6.9%) | $498,701 (9.3%) | 0.86 | 3,337 |
| 2022-08-01 | $381,175 (6.4%) | $488,608 (7.0%) | 0.88 | 3,645 |
| 2022-09-01 | $382,675 (7.4%) | $487,642 (7.4%) | 0.89 | 3,909 |
| 2022-10-01 | $379,370 (3.6%) | $480,837 (3.6%) | 0.89 | 4,153 |
| 2022-11-01 | $374,172 (2.4%) | $470,550 (1.3%) | 0.90 | 4,443 |
| 2022-12-01 | $365,815 (-1.3%) | $462,487 (-1.4%) | 0.90 | 4,478 |
| 2023-01-01 | $362,500 (-2.6%) | $458,294 (-2.9%) | 0.90 | 4,288 |
| 2023-02-01 | $364,059 (-7.8%) | $458,158 (-10.5%) | 0.88 | 4,042 |
| 2023-03-01 | $365,095 (-8.6%) | $462,122 (-11.3%) | 0.86 | 3,929 |
| 2023-04-01 | $366,948 (-8.0%) | $470,655 (-10.0%) | 0.85 | 3,857 |
| 2023-05-01 | $365,974 (-6.1%) | $466,433 (-9.3%) | 0.83 | 3,968 |
| 2023-06-01 | $365,151 (-6.3%) | $468,436 (-8.3%) | 0.82 | 4,037 |
| 2023-07-01 | $359,900 (-6.2%) | $464,469 (-6.9%) | 0.82 | 4,169 |
| 2023-08-01 | $355,784 (-6.7%) | $494,873 (1.3%) | 0.82 | 4,349 |
| 2023-09-01 | $350,000 (-8.5%) | $458,571 (-6.0%) | 0.81 | 4,508 |
| 2023-10-01 | $350,000 (-7.7%) | $459,288 (-4.5%) | 0.82 | 4,814 |
| 2023-11-01 | $350,000 (-6.5%) | $456,685 (-3.0%) | 0.83 | 5,141 |
| 2023-12-01 | $349,900 (-4.4%) | $448,667 (-3.0%) | 0.85 | 5,232 |
| 2024-01-01 | $345,884 (-4.6%) | $445,109 (-2.9%) | 0.84 | 5,367 |
| 2024-02-01 | $345,875 (-5.0%) | $446,242 (-2.6%) | 0.83 | 5,702 |
| 2024-03-01 | $346,900 (-5.0%) | $449,433 (-2.8%) | 0.82 | 5,951 |
Myrtle Beach's median listing price comes in at 82% of the national average.
Myrtle Beach's average listing price for 2024-03-01 was $449,433, a difference of $-12,689 (-2.8%) versus the prior year and $3,191 versus the prior month.
For the 2024-03-01 period, Myrtle Beach had 5,951 MLS listings, a difference of 249 listings (4%) versus the prior month and 2,022 listings (51%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Myrtle Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | 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 | 1,650 sqft |
| 2018-11-01 | 95 days | 1,647 sqft |
| 2018-12-01 | 102 days | 1,651 sqft |
| 2019-01-01 | 94 days | 1,626 sqft |
| 2019-02-01 | 89 days | 1,605 sqft |
| 2019-03-01 | 79 days | 1,539 sqft |
| 2019-04-01 | 74 days | 1,451 sqft |
| 2019-05-01 | 76 days | 1,451 sqft |
| 2019-06-01 | 81 days | 1,451 sqft |
| 2019-07-01 | 82 days | 1,501 sqft |
| 2019-08-01 | 84 days | 1,511 sqft |
| 2019-09-01 | 84 days | 1,526 sqft |
| 2019-10-01 | 85 days | 1,536 sqft |
| 2019-11-01 | 86 days | 1,550 sqft |
| 2019-12-01 | 90 days | 1,601 sqft |
| 2020-01-01 | 96 days | 1,636 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 | 1,651 sqft |
| 2020-06-01 | 92 days | 1,686 sqft |
| 2020-07-01 | 77 days | 1,677 sqft |
| 2020-08-01 | 68 days | 1,660 sqft |
| 2020-09-01 | 68 days | 1,650 sqft |
| 2020-10-01 | 68 days | 1,650 sqft |
| 2020-11-01 | 68 days | 1,637 sqft |
| 2020-12-01 | 72 days | 1,620 sqft |
| 2021-01-01 | 75 days | 1,610 sqft |
| 2021-02-01 | 73 days | 1,600 sqft |
| 2021-03-01 | 56 days | 1,605 sqft |
| 2021-04-01 | 52 days | 1,652 sqft |
| 2021-05-01 | 46 days | 1,671 sqft |
| 2021-06-01 | 41 days | 1,687 sqft |
| 2021-07-01 | 37 days | 1,723 sqft |
| 2021-08-01 | 35 days | 1,729 sqft |
| 2021-09-01 | 39 days | 1,741 sqft |
| 2021-10-01 | 41 days | 1,831 sqft |
| 2021-11-01 | 44 days | 1,805 sqft |
| 2021-12-01 | 57 days | 1,812 sqft |
| 2022-01-01 | 64 days | 1,821 sqft |
| 2022-02-01 | 48 days | 1,814 sqft |
| 2022-03-01 | 37 days | 1,804 sqft |
| 2022-04-01 | 29 days | 1,726 sqft |
| 2022-05-01 | 26 days | 1,710 sqft |
| 2022-06-01 | 32 days | 1,700 sqft |
| 2022-07-01 | 39 days | 1,673 sqft |
| 2022-08-01 | 45 days | 1,672 sqft |
| 2022-09-01 | 52 days | 1,693 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 | 77 days | 1,701 sqft |
| 2023-02-01 | 79 days | 1,713 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 |
| 2023-09-01 | 55 days | 1,618 sqft |
| 2023-10-01 | 57 days | 1,600 sqft |
| 2023-11-01 | 59 days | 1,601 sqft |
| 2023-12-01 | 66 days | 1,580 sqft |
| 2024-01-01 | 72 days | 1,576 sqft |
| 2024-02-01 | 62 days | 1,561 sqft |
| 2024-03-01 | 57 days | 1,554 sqft |
Myrtle Beach's median square footage for active listings during the 2024-03-01 period was 1,554 sqft. One year prior, the average listing was 1,720 sqft.