Orangeburg VA Loan Rates, Closing Costs & Stats

Orangeburg, SC

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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.

    Orangeburg's 47 lenders originated 110 VA loans during 2023. The total origination value was $28,100,000, with an average VA loan value of $255,455.

    Orangeburg VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Orangeburg averaged 6.52% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Orangeburg's average VA mortgage closing costs are $5,104.

    The average rate for the prior week (2024-07-12) was 6.46% and one month ago for the week of 2024-06-14, the average rate was 6.72%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.4%.

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

    Orangeburg 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 Orangeburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.98% $6,978
    DHI MORTGAGE COMPANY, LTD. 7 5.17% $4,702
    QUICKEN LOANS, LLC 6 5.99% $8,650
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.63% $8,757
    NAVY FEDERAL CREDIT UNION 5 5.50% $2,782
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.62% $33
    UNITED WHOLESALE MORTGAGE, LLC 4 7.32% $2,084
    NEW DAY FINANCIAL, LLC 2 6.68% $10,218
    VILLAGE CAPITAL MORTGAGE 2 6.00% $6,535
    PENNYMAC LOAN SERVICES, LLC 2 5.44% $7,097
    NEWREZ LLC 2 6.75% $8,266
    CROSSCOUNTRY MORTGAGE, LLC 2 7.41% $12,873
    GUILD MORTGAGE COMPANY 2 6.38% $7,566
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 7.50% $7,211
    MOVEMENT MORTGAGE, LLC 2 7.19% $3,573
    USAA Federal Savings Bank 2 7.00% $2,513
    CMG MORTGAGE, INC. 2 6.19% $7,582
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.38% $3,325
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $9,363
    NATION ONE MORTGAGE CORPORATION 1 6.50% $9,336
    PLAZA HOME MORTGAGE, INC. 1 6.25% $8,823
    Prosperity Home Mortgage, LLC 1 5.25% $7,067
    Renasant Bank 1 5.63% $6,497
    South State Bank 1 5.75% $6,485
    The Federal Savings Bank 1 6.75% $5,202
    THRIVE MORTGAGE, LLC 1 6.50% $9,260
    US MORTGAGE CORPORATION 1 5.63% $6,424
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.75% $3,469
    VERITAS FUNDING, LLC 1 6.50% $17,067
    Wells Fargo Bank 1 5.63% $7,562
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $4,109
    AMERITRUST MORTGAGE CORPORATION 1 7.50% $10,347
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.00% $6,321
    Atlantic Coast Mortgage, LLC 1 5.25% $9,317
    BROKER SOLUTIONS, INC. 1 5.63% $7,967
    Capital Bank 1 5.50% $5,252
    CARDINAL FINANCIAL 1 5.75% $9,584
    CAROLINA ONE MORTGAGE, LLC 1 6.75% $6,179
    CHURCHILL MORTGAGE CORPORATION 1 6.13% $6,805
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $5,155
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $8,594
    Goldwater Bank, N.A. 1 6.25% $14,248
    INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $530
    Lakeview Community Capital, LLC 1 7.25% $4,838
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $6,705
    MIDLAND MORTGAGE CORPORATION 1 6.75% $0
    MORTGAGEONE, INC. 1 7.00% $6,879

    The top Orangeburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $6,978, which is $2,277 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Orangeburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,978), .

    The lowest rate Orangeburg VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.98%), .

    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.