New Bern VA Loan Rates, Closing Costs & Stats
NEW BERN, 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.
New Bern's 79 lenders originated 705 VA
loans during 2023. The total origination value was $207,185,000, with an average VA loan value of
$293,879.
New Bern VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in New Bern
averaged
5.69%
for the week of 2024-10-11, compared to the national average (all VA variants) of
5.854% for the same period.
New Bern's average VA mortgage closing costs are $5,394.
The average rate for the prior week (2024-10-04) was
5.46% and
one month ago for the week of 2024-09-06, the
average rate was 5.65%.
The average rate one year ago was 7.12%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.08%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
New Bern 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 New Bern level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
NAVY FEDERAL CREDIT UNION
|
99
|
5.95%
|
$5,166
|
Mortgage Research Center, LLC
|
94
|
6.71%
|
$7,117
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
81
|
6.56%
|
$8,881
|
GUARANTEED RATE, INC.
|
46
|
6.32%
|
$6,277
|
MOVEMENT MORTGAGE, LLC
|
41
|
6.36%
|
$8,830
|
UNITED WHOLESALE MORTGAGE, LLC
|
28
|
6.33%
|
$8,832
|
QUICKEN LOANS, LLC
|
26
|
6.38%
|
$8,827
|
DHI MORTGAGE COMPANY, LTD.
|
25
|
5.43%
|
$6,274
|
FREEDOM MORTGAGE CORPORATION
|
18
|
6.55%
|
$13,807
|
PENNYMAC LOAN SERVICES, LLC
|
17
|
5.51%
|
$7,713
|
USAA Federal Savings Bank
|
15
|
6.37%
|
$7,641
|
American Security Mortgage Corp.
|
14
|
6.06%
|
$8,581
|
NEW DAY FINANCIAL, LLC
|
10
|
7.23%
|
$12,147
|
The Federal Savings Bank
|
10
|
6.21%
|
$13,493
|
Nations Lending Corporation
|
9
|
6.39%
|
$5,238
|
LOANDEPOT.COM, LLC
|
8
|
6.53%
|
$6,953
|
INTERCOASTAL MORTGAGE COMPANY
|
7
|
6.68%
|
$6,782
|
GUILD MORTGAGE COMPANY
|
7
|
6.57%
|
$6,563
|
NEWREZ LLC
|
6
|
6.56%
|
$5,098
|
Corporate Investors Mortgage Group, Inc.
|
6
|
6.33%
|
$15,011
|
CROSSCOUNTRY MORTGAGE, LLC
|
5
|
7.24%
|
$7,399
|
Barrington Bank & Trust Company, N.A.
|
4
|
6.25%
|
$11,079
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
4
|
7.50%
|
$3,575
|
CMG MORTGAGE, INC.
|
4
|
5.88%
|
$7,987
|
SWBC MORTGAGE CORPORATION
|
4
|
6.50%
|
$6,526
|
Wells Fargo Bank
|
4
|
5.72%
|
$7,591
|
PENTAGON FEDERAL CREDIT UNION
|
4
|
5.88%
|
$7,785
|
Paramount Residential Mortgage Group, Inc.
|
3
|
6.29%
|
$7,656
|
Truist
|
3
|
6.12%
|
$3,544
|
CARDINAL FINANCIAL
|
3
|
7.25%
|
$7,463
|
VILLAGE CAPITAL MORTGAGE
|
3
|
5.54%
|
$8,589
|
Mr. Cooper ( Nationstar Mortgage )
|
3
|
5.67%
|
$11,577
|
Mid-Continent Funding, Inc.
|
3
|
6.75%
|
$4,006
|
SOUTHERN TRUST MORTGAGE, LLC
|
2
|
6.50%
|
$11,962
|
BROKER SOLUTIONS, INC.
|
2
|
6.44%
|
$14,357
|
First-Citizens Bank & Trust Company
|
2
|
6.31%
|
$5,548
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
2
|
6.81%
|
$10,675
|
Magnolia Bank
|
2
|
6.50%
|
$13,814
|
NFM, INC.
|
2
|
6.56%
|
$8,259
|
Plains Commerce Bank
|
2
|
5.13%
|
$8,129
|
PLAZA HOME MORTGAGE, INC.
|
2
|
5.75%
|
$2,512
|
RELIANCE FIRST CAPITAL, LLC
|
2
|
7.00%
|
$7,114
|
SeaTrust Mortgage Company
|
2
|
6.75%
|
$7,765
|
CONTOUR MORTGAGE CORPORATION
|
1
|
7.75%
|
$14,235
|
North American Savings Bank, F.S.B.
|
1
|
5.75%
|
$15,569
|
Old National Bank
|
1
|
5.63%
|
$3,208
|
ON Q FINANCIAL, INC.
|
1
|
6.75%
|
$3,337
|
GUARANTEED RATE AFFINITY, LLC
|
1
|
6.25%
|
$6,481
|
F&M Bank
|
1
|
6.13%
|
$11,408
|
First Heritage Mortgage, LLC
|
1
|
7.00%
|
$12,578
|
PHH Mortgage Corporation
|
1
|
6.00%
|
$14,577
|
City National Bank of Florida
|
1
|
5.75%
|
$5,667
|
PLANET HOME LENDING, LLC
|
1
|
5.99%
|
$1,428
|
VELOCIO MORTGAGE L.L.C.
|
1
|
5.99%
|
$3,798
|
PNC Bank
|
1
|
6.00%
|
$6,844
|
Prosperity Home Mortgage, LLC
|
1
|
6.63%
|
$2,191
|
FIRST COMMUNITY MORTGAGE, INC.
|
1
|
6.75%
|
$17,528
|
CALIBER HOME LOANS, INC.
|
1
|
6.13%
|
$12,526
|
RESIDENTIAL BANCORP
|
1
|
6.75%
|
$7,651
|
AMERISAVE MORTGAGE CORPORATION
|
1
|
6.50%
|
$9,049
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.75%
|
$15,683
|
SOVEREIGN LENDING GROUP INCORPORATED
|
1
|
5.99%
|
$11,416
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
6.88%
|
$11,658
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
1
|
6.49%
|
$2,095
|
T2 FINANCIAL LLC
|
1
|
7.00%
|
$4,813
|
The Central Trust Bank
|
1
|
4.75%
|
$12,090
|
Encompass Lending Group, LP
|
1
|
6.13%
|
$7,791
|
The Freedom Bank of Virginia
|
1
|
5.75%
|
$3,759
|
THRIVE MORTGAGE, LLC
|
1
|
4.00%
|
$10,281
|
Towne Bank
|
1
|
5.75%
|
$21,491
|
TOWNE MORTGAGE COMPANY
|
1
|
6.25%
|
$2,747
|
CORNERSTONE HOME LENDING, INC.
|
1
|
6.50%
|
$7,956
|
UNION HOME MORTGAGE CORP.
|
1
|
5.63%
|
$8,274
|
United Fidelity Funding Corp.
|
1
|
6.38%
|
$10,990
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
1
|
6.25%
|
$7,480
|
JPMorgan Chase Bank
|
1
|
6.13%
|
$9,154
|
Integrity Home Mortgage Corp
|
1
|
6.63%
|
$29,798
|
HOMESIDE FINANCIAL, LLC
|
1
|
7.25%
|
$3,850
|
HOMEOWNERS FINANCIAL GROUP USA, LLC
|
1
|
6.63%
|
$6,016
|
The top New Bern VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with
99 VA loans originated. Their average total fees are
$5,166, which is $1,952
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee New Bern VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($5,166), DHI MORTGAGE COMPANY, LTD. ($6,274), GUARANTEED RATE, INC. ($6,277), Mortgage Research Center, LLC ($7,117) and USAA Federal Savings Bank ($7,641).
The lowest rate New Bern VA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.43%), PENNYMAC LOAN SERVICES, LLC (5.51%), NAVY FEDERAL CREDIT UNION (5.95%), American Security Mortgage Corp. (6.06%) and The Federal Savings Bank (6.21%).
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.