New Bern VA Loans

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 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 122 lenders originated 1,814 VA loans during 2021. The total origination value was $403,250,000, with an average VA loan value of $222,299.

New Bern VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in New Bern averaged 5.56% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.29% and one month ago for the week of 2022-04-08, the average rate was 4.82%.

The average rate one year ago was 3.23%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.35%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Bern level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 206 2.88% $5,690
NAVY FEDERAL CREDIT UNION 205 2.52% $4,096
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 118 3.02% $5,793
QUICKEN LOANS, LLC 109 2.48% $3,846
MOVEMENT MORTGAGE, LLC 101 2.86% $5,206
FREEDOM MORTGAGE CORPORATION 89 2.42% $2,908
GUARANTEED RATE, INC. 71 2.68% $4,738
DHI MORTGAGE COMPANY, LTD. 54 2.75% $6,952
PENNYMAC LOAN SERVICES, LLC 50 2.50% $4,893
NEW DAY FINANCIAL, LLC 48 2.87% $6,758
USAA Federal Savings Bank 43 2.90% $3,813
American Security Mortgage Corp. 38 2.48% $5,066
VILLAGE CAPITAL & INVESTMENT LLC 31 2.25% $3,310
LAKEVIEW LOAN SERVICING, LLC 31 2.55% $2,379
UNION HOME MORTGAGE CORP. 25 2.77% $6,060
Wells Fargo Bank 24 2.69% $2,963
CLEARPATH LENDING 18 2.26% $4,813
UNITED WHOLESALE MORTGAGE, LLC 18 2.48% $5,378
LOANDEPOT.COM, LLC 16 2.61% $3,471
Mr. Cooper ( Nationstar Mortgage ) 15 2.94% $3,109
CALIBER HOME LOANS, INC. 14 2.53% $4,022
The Federal Savings Bank 14 2.69% $5,700
HOME POINT FINANCIAL CORPORATION 11 2.40% $3,537
Alpha Mortgage Corporation 11 3.33% $5,058
AMERISAVE MORTGAGE CORPORATION 11 2.70% $6,881
EQUITY RESOURCES, INC. 9 2.80% $5,250
Truist Bank 9 2.65% $3,665
RESIDENTIAL MORTGAGE SERVICES, INC. 9 2.71% $6,268
PNC Bank 9 2.69% $4,881
CROSSCOUNTRY MORTGAGE, LLC 8 3.05% $5,330
First Guaranty Mortgage Corporation 8 2.56% $2,634
Mid-Continent Funding, Inc. 8 3.08% $5,697
Carrington Mortgage Services, LLC 8 3.05% $4,107
Lakeview Community Capital, LLC 6 2.60% $2,008
Low VA Rates, LLC 5 2.38% $4,682
AMERICAN FINANCIAL NETWORK, INC. 5 2.38% $7,700
InterContinental Capital Group, Inc 5 2.30% $2,914
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.88% $7,486
PLANET HOME LENDING, LLC 5 2.45% $1,200
PENTAGON FEDERAL CREDIT UNION 5 2.33% $1,044
CORNERSTONE HOME LENDING, INC. 4 3.03% $6,184
North American Savings Bank, F.S.B. 4 2.31% $3,571
ANGEL OAK HOME LOANS LLC 4 2.59% $15,086
First-Citizens Bank & Trust Company 4 2.50% $4,080
SOVEREIGN LENDING GROUP INCORPORATED 4 2.63% $4,239
SUN WEST MORTGAGE COMPANY, INC. 4 2.38% $2,359
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.97% $6,217
BNC National Bank 3 2.54% $7,008
Alcova Mortgage LLC 3 2.83% $4,522
AMERICAN FINANCING CORPORATION 3 2.46% $3,895
BROKER SOLUTIONS, INC. 3 2.75% $3,909
CMG MORTGAGE, INC. 3 2.42% $9,904
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 2.58% $6,013
CONTOUR MORTGAGE CORPORATION 3 2.83% $4,181
Barrington Bank & Trust Company, N.A. 3 2.75% $3,831
SeaTrust Mortgage Company 3 2.71% $7,996
KELLER MORTGAGE, LLC 2 2.56% $2,594
ACCELERATE MORTGAGE, LLC 2 2.25% $3,340
NP, Inc. 2 2.38% $4,766
NEWREZ LLC 2 3.06% $7,005
LENDUS, LLC 2 2.50% $5,598
Nations Lending Corporation 2 3.44% $4,934
Towne Bank 2 2.81% $4,192
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.19% $2,902
Flagstar Bank, FSB 2 3.63% $5,071
GUILD MORTGAGE COMPANY 2 3.00% $10,348
STEARNS LENDING, LLC 2 2.56% $2,133
SOUTHERN TRUST MORTGAGE, LLC 2 2.25% $4,792
Equity Prime Mortgage LLC 2 2.63% $10,670
INTERCOASTAL MORTGAGE COMPANY 2 2.50% $9,832
PLAZA HOME MORTGAGE, INC. 2 2.56% $9,291
AmeriHome Mortgage Company, LLC 2 2.94% $2,135
Wyndham Capital Mortgage, Inc. 1 2.50% $1,927
Ameris Bank 1 2.50% $3,614
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.38% $1,106
Armed Forces Bank 1 2.25% $1,151
Atlantic Coast Mortgage, LLC 1 2.50% $12,026
Bank of England 1 3.25% $732
Blue Ridge Bank 1 2.50% $8,488
CAPITAL CENTER, L.L.C. 1 2.75% $0
CHURCHILL MORTGAGE CORPORATION 1 2.63% $6,981
Credence Funding Corporation 1 2.25% $2,489
Fifth Third Bank 1 3.00% $3,326
First Bank & Trust 1 2.25% $4,746
First Federal Bank 1 3.00% $9,625
First Federal Bank of Kansas City 1 2.75% $2,673
First Heritage Mortgage, LLC 1 2.50% $3,435
FIRST HOME MORTGAGE CORPORATION 1 3.00% $1,977
First Mortgage Solutions, LLC 1 2.25% $16,581
First National Bank of Pennsylvania 1 2.63% $14,378
Gateway First Bank 1 3.13% $0
GENEVA FINANCIAL, LLC 1 3.25% $7,129
Goldwater Bank, N.A. 1 2.38% $3,050
HOMESIDE FINANCIAL, LLC 1 2.25% $2,234
HOMESTAR FINANCIAL CORPORATION 1 3.75% $583
HOMESTEAD FUNDING CORP. 1 3.13% $10,747
IMPAC MORTGAGE CORP. 1 2.88% $1,510
Ixonia Bank 1 2.88% $15,413
KS StateBank 1 2.88% $8,755
LIBERTY HOME MORTGAGE CORPORATION 1 2.25% $9,702
LOANPAL, LLC 1 2.88% $3,968
Magnolia Bank 1 2.75% $7,122
Meridian Bank Corporation 1 2.38% $2,315
MIDLAND MORTGAGE CORPORATION 1 3.38% $11,149
MORTGAGE INVESTORS GROUP, INC. 1 3.00% $8,195
Mortgage Lenders Investment Trading Corporation 1 3.25% $1,936
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $4,188
NBKC BANK 1 2.25% $6,852
PHH Mortgage Corporation 1 3.75% $1,680
PREMIA MORTGAGE, LLC 1 2.50% $2,856
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.13% $8,671
RAPID MORTGAGE COMPANY 1 2.75% $8,193
Renasant Bank 1 2.63% $7,394
SECURITYNATIONAL MORTGAGE COMPANY 1 2.88% $7,204
T2 FINANCIAL LLC 1 2.88% $3,711
The Central Trust Bank 1 2.25% $2,847
TIAA, FSB 1 2.50% $16,289
TJC Mortgage, Inc. 1 1.75% $7,470
TOP FLITE FINANCIAL, INC. 1 3.13% $4,442
United Bank 1 2.38% $3,017
UNITED SECURITY FINANCIAL CORP 1 1.75% $6,419
1ST SIGNATURE LENDING, LLC 1 3.63% $3,191

The top New Bern VA lender as defined by loan originations is Mortgage Research Center, LLC, with 206 VA loans originated. Their average total fees are $5,690, which is $1,595 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee New Bern VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,379), FREEDOM MORTGAGE CORPORATION ($2,908), Wells Fargo Bank ($2,963), Mr. Cooper ( Nationstar Mortgage ) ($3,109) and VILLAGE CAPITAL & INVESTMENT LLC ($3,310).

The lowest rate New Bern VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.25%), CLEARPATH LENDING (2.26%), HOME POINT FINANCIAL CORPORATION (2.40%), FREEDOM MORTGAGE CORPORATION (2.42%) and UNITED WHOLESALE MORTGAGE, LLC (2.48%).

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.