Roanoke Rapids VA Loan Rates, Closing Costs & Stats

Roanoke Rapids, NC

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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.

    Roanoke Rapids's 24 lenders originated 66 VA loans during 2023. The total origination value was $14,960,000, with an average VA loan value of $226,667.

    Roanoke Rapids VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Roanoke Rapids averaged 0.3% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Roanoke Rapids's average VA mortgage closing costs are $4,637.

    The average rate for the prior week (2024-11-08) was 6.2% and one month ago for the week of 2024-10-11, the average rate was 5.87%.

    The average rate one year ago was 7.16%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    Roanoke Rapids 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 Roanoke Rapids level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 18 6.76% $5,272
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 10 6.49% $7,984
    QUICKEN LOANS, LLC 6 6.22% $9,323
    INTERCOASTAL MORTGAGE COMPANY 4 6.31% $7,816
    NEW DAY FINANCIAL, LLC 3 6.99% $10,530
    Barrington Bank & Trust Company, N.A. 2 6.50% $4,498
    GUARANTEED RATE, INC. 1 6.75% $0
    GUILD MORTGAGE COMPANY 1 7.63% $4,343
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $0
    NAVY FEDERAL CREDIT UNION 1 5.75% $5,018
    NEWREZ LLC 1 6.25% $5,053
    PENNYMAC LOAN SERVICES, LLC 1 5.13% $5,648
    Plains Commerce Bank 1 6.75% $15,370
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $4,793
    The Federal Savings Bank 1 5.25% $19,043
    The Park National Bank 1 6.63% $4,851
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.13% $6,372
    1ST SIGNATURE LENDING, LLC 1 6.50% $5,800
    USAA Federal Savings Bank 1 6.63% $5,362
    Blue Ridge Bank 1 6.75% $5,464
    CROSSCOUNTRY MORTGAGE, LLC 1 6.56% $2,150
    DELMAR FINANCIAL COMPANY 1 6.25% $3,197
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.63% $3,711
    FREEDOM MORTGAGE CORPORATION 1 6.25% $11,429

    The top Roanoke Rapids VA lender as defined by loan originations is Mortgage Research Center, LLC, with 18 VA loans originated. Their average total fees are $5,272, which is $2,713 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

    The lowest fee Roanoke Rapids VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,272), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($7,984), .

    The lowest rate Roanoke Rapids VA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.49%), Mortgage Research Center, LLC (6.76%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Roanoke Rapids (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 $149,925 (0.0%) $236,266 (-3.9%) 0.00 265
    2018-02-01 $153,950 (-12.4%) $242,547 (-4.9%) 0.00 267
    2018-03-01 $169,900 (-8.4%) $246,321 (-5.7%) 0.00 283
    2018-04-01 $180,550 (-2.4%) $262,551 (-1.4%) 0.00 285
    2018-05-01 $167,450 (-13.0%) $261,191 (-2.8%) 0.00 293
    2018-06-01 $165,000 (-5.0%) $249,377 (-2.1%) 0.00 286
    2018-07-01 $156,700 (-2.5%) $245,790 (1.2%) 0.00 282
    2018-08-01 $147,425 (-15.8%) $235,040 (-7.3%) 0.00 280
    2018-09-01 $139,900 (-21.8%) $224,663 (-12.5%) 0.00 293
    2018-10-01 $139,900 (-21.4%) $223,370 (-9.7%) 0.00 274
    2018-11-01 $136,225 (-24.3%) $220,026 (-13.0%) 0.00 264
    2018-12-01 $129,900 (-27.4%) $204,059 (-19.2%) 0.00 263
    2019-01-01 $134,975 (-10.0%) $218,162 (-7.7%) 0.00 259
    2019-02-01 $137,250 (-10.9%) $228,884 (-5.6%) 0.00 265
    2019-03-01 $152,571 (-10.2%) $237,452 (-3.6%) 0.00 265
    2019-04-01 $168,750 (-6.5%) $247,543 (-5.7%) 0.00 264
    2019-05-01 $185,350 (10.7%) $275,915 (5.6%) 0.00 262
    2019-06-01 $205,000 (24.2%) $292,361 (17.2%) 0.00 250
    2019-07-01 $199,675 (27.4%) $280,084 (14.0%) 0.00 236
    2019-08-01 $194,118 (31.7%) $272,285 (15.9%) 0.00 227
    2019-09-01 $186,120 (33.0%) $265,238 (18.1%) 0.00 224
    2019-10-01 $180,789 (29.2%) $260,235 (16.5%) 0.00 224
    2019-11-01 $188,500 (38.4%) $268,578 (22.1%) 0.00 227
    2019-12-01 $188,625 (45.2%) $270,115 (32.4%) 0.00 226
    2020-01-01 $188,875 (39.9%) $264,260 (21.1%) 0.00 209
    2020-02-01 $189,000 (37.7%) $273,705 (19.6%) 0.00 193
    2020-03-01 $186,000 (21.9%) $280,383 (18.1%) 0.00 203
    2020-04-01 $179,500 (6.4%) $280,381 (13.3%) 0.00 193
    2020-05-01 $179,000 (-3.4%) $268,493 (-2.7%) 0.00 169
    2020-06-01 $168,575 (-17.8%) $269,787 (-7.7%) 0.00 157
    2020-07-01 $175,000 (-12.4%) $268,576 (-4.1%) 0.00 150
    2020-08-01 $169,700 (-12.6%) $277,767 (2.0%) 0.00 140
    2020-09-01 $169,250 (-9.1%) $310,451 (17.1%) 0.00 139
    2020-10-01 $150,000 (-17.0%) $297,267 (14.2%) 0.00 133
    2020-11-01 $132,200 (-29.9%) $280,018 (4.3%) 0.00 149
    2020-12-01 $146,975 (-22.1%) $291,310 (7.9%) 0.00 128
    2021-01-01 $149,900 (-20.6%) $289,741 (9.6%) 0.00 123
    2021-02-01 $149,783 (-20.8%) $286,600 (4.7%) 0.00 105
    2021-03-01 $152,191 (-18.2%) $301,862 (7.7%) 0.00 88
    2021-04-01 $152,450 (-15.1%) $306,829 (9.4%) 0.00 80
    2021-05-01 $210,000 (17.3%) $335,753 (25.1%) 0.00 74
    2021-06-01 $217,500 (29.0%) $361,206 (33.9%) 0.00 73
    2021-07-01 $224,950 (28.5%) $343,205 (27.8%) 0.00 79
    2021-08-01 $230,475 (35.8%) $336,017 (21.0%) 0.00 74
    2021-09-01 $220,000 (30.0%) $316,727 (2.0%) 0.00 72
    2021-10-01 $199,000 (32.7%) $317,058 (6.7%) 0.00 67
    2021-11-01 $203,725 (54.1%) $379,391 (35.5%) 0.00 76
    2021-12-01 $188,725 (28.4%) $404,403 (38.8%) 0.00 66
    2022-01-01 $192,450 (28.4%) $387,997 (33.9%) 0.00 65
    2022-02-01 $196,750 (31.4%) $348,670 (21.7%) 0.00 61
    2022-03-01 $224,900 (47.8%) $407,704 (35.1%) 0.00 62
    2022-04-01 $236,000 (54.8%) $401,567 (30.9%) 0.00 72
    2022-05-01 $255,250 (21.6%) $447,797 (33.4%) 0.00 79
    2022-06-01 $299,500 (37.7%) $483,889 (34.0%) 0.00 83
    2022-07-01 $289,500 (28.7%) $471,946 (37.5%) 0.00 99
    2022-08-01 $247,000 (7.2%) $421,283 (25.4%) 0.00 112
    2022-09-01 $238,725 (8.5%) $392,414 (23.9%) 0.00 105
    2022-10-01 $249,950 (25.6%) $390,411 (23.1%) 0.00 105
    2022-11-01 $257,500 (26.4%) $413,673 (9.0%) 0.00 96
    2022-12-01 $270,999 (43.6%) $408,931 (1.1%) 0.00 90
    2023-01-01 $270,999 (40.8%) $401,451 (3.5%) 0.00 86
    2023-02-01 $249,675 (26.9%) $425,949 (22.2%) 0.00 84
    2023-03-01 $199,498 (-11.3%) $314,518 (-22.9%) 0.00 83
    2023-04-01 $212,900 (-9.8%) $353,709 (-11.9%) 0.00 83
    2023-05-01 $230,000 (-9.9%) $326,607 (-27.1%) 0.00 97
    2023-06-01 $249,675 (-16.6%) $390,581 (-19.3%) 0.00 100
    2023-07-01 $214,000 (-26.1%) $354,574 (-24.9%) 0.00 97
    2023-08-01 $199,000 (-19.4%) $332,557 (-21.1%) 0.00 106
    2023-09-01 $183,900 (-23.0%) $312,044 (-20.5%) 0.00 96
    2023-10-01 $220,250 (-11.9%) $386,340 (-1.0%) 0.00 107
    2023-11-01 $220,000 (-14.6%) $385,202 (-6.9%) 0.00 102
    2023-12-01 $215,000 (-20.7%) $360,421 (-11.9%) 0.00 103
    2024-01-01 $199,675 (-26.3%) $355,300 (-11.5%) 0.00 97
    2024-02-01 $199,250 (-20.2%) $328,902 (-22.8%) 0.00 96
    2024-03-01 $209,450 (5.0%) $392,241 (24.7%) 0.00 97
    2024-04-01 $249,500 (17.2%) $424,366 (20.0%) 0.00 107
    2024-05-01 $262,450 (14.1%) $442,883 (35.6%) 0.00 111
    2024-06-01 $260,000 (4.1%) $448,075 (14.7%) 0.00 117
    2024-07-01 $267,350 (24.9%) $455,818 (28.6%) 0.00 117
    2024-08-01 $275,000 (38.2%) $451,748 (35.8%) 0.00 115
    2024-09-01 $286,975 (56.1%) $479,948 (53.8%) 0.00 115
    2024-10-01 $287,625 (30.6%) $458,381 (18.7%) 0.00 110
    Roanoke Rapids's median listing price for 2024-10-01 was $287,625, a difference of $67,375 (30.6%) versus the prior year and $650 versus the prior month.

    Roanoke Rapids's median listing price comes in at 0% of the national average.

    Roanoke Rapids's average listing price for 2024-10-01 was $458,381, a difference of $72,041 (18.7%) versus the prior year and $-21,567 versus the prior month.

    For the 2024-10-01 period, Roanoke Rapids had 110 MLS listings, a difference of -5 listings (-4%) versus the prior month and 3 listings (3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Roanoke Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,762 sqft
    2018-02-01 0 days 1,795 sqft
    2018-03-01 0 days 1,885 sqft
    2018-04-01 0 days 1,937 sqft
    2018-05-01 0 days 1,849 sqft
    2018-06-01 0 days 1,823 sqft
    2018-07-01 0 days 1,825 sqft
    2018-08-01 0 days 1,823 sqft
    2018-09-01 0 days 1,820 sqft
    2018-10-01 0 days 1,823 sqft
    2018-11-01 0 days 1,822 sqft
    2018-12-01 0 days 1,745 sqft
    2019-01-01 0 days 1,765 sqft
    2019-02-01 0 days 1,748 sqft
    2019-03-01 0 days 1,755 sqft
    2019-04-01 0 days 1,768 sqft
    2019-05-01 0 days 1,831 sqft
    2019-06-01 0 days 1,932 sqft
    2019-07-01 0 days 1,868 sqft
    2019-08-01 0 days 1,823 sqft
    2019-09-01 0 days 1,823 sqft
    2019-10-01 0 days 1,823 sqft
    2019-11-01 0 days 1,823 sqft
    2019-12-01 0 days 1,823 sqft
    2020-01-01 0 days 1,823 sqft
    2020-02-01 0 days 1,823 sqft
    2020-03-01 0 days 1,823 sqft
    2020-04-01 0 days 1,823 sqft
    2020-05-01 0 days 1,806 sqft
    2020-06-01 0 days 1,823 sqft
    2020-07-01 0 days 1,823 sqft
    2020-08-01 0 days 1,809 sqft
    2020-09-01 0 days 1,728 sqft
    2020-10-01 0 days 1,693 sqft
    2020-11-01 0 days 1,567 sqft
    2020-12-01 0 days 1,568 sqft
    2021-01-01 0 days 1,792 sqft
    2021-02-01 0 days 1,754 sqft
    2021-03-01 0 days 1,786 sqft
    2021-04-01 0 days 1,605 sqft
    2021-05-01 0 days 1,823 sqft
    2021-06-01 0 days 2,152 sqft
    2021-07-01 0 days 1,929 sqft
    2021-08-01 0 days 1,873 sqft
    2021-09-01 0 days 1,801 sqft
    2021-10-01 0 days 1,764 sqft
    2021-11-01 0 days 1,856 sqft
    2021-12-01 0 days 1,877 sqft
    2022-01-01 0 days 1,796 sqft
    2022-02-01 0 days 1,826 sqft
    2022-03-01 0 days 1,916 sqft
    2022-04-01 0 days 1,963 sqft
    2022-05-01 0 days 2,035 sqft
    2022-06-01 0 days 2,330 sqft
    2022-07-01 0 days 2,242 sqft
    2022-08-01 0 days 2,167 sqft
    2022-09-01 0 days 1,873 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 2,033 sqft
    2022-12-01 0 days 2,280 sqft
    2023-01-01 0 days 2,346 sqft
    2023-02-01 0 days 2,177 sqft
    2023-03-01 0 days 1,913 sqft
    2023-04-01 0 days 1,738 sqft
    2023-05-01 0 days 1,748 sqft
    2023-06-01 0 days 1,854 sqft
    2023-07-01 0 days 1,775 sqft
    2023-08-01 0 days 1,783 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,969 sqft
    2023-11-01 0 days 1,815 sqft
    2023-12-01 0 days 1,756 sqft
    2024-01-01 0 days 1,789 sqft
    2024-02-01 0 days 1,731 sqft
    2024-03-01 0 days 1,680 sqft
    2024-04-01 0 days 1,759 sqft
    2024-05-01 0 days 1,736 sqft
    2024-06-01 0 days 1,689 sqft
    2024-07-01 0 days 1,730 sqft
    2024-08-01 0 days 1,728 sqft
    2024-09-01 0 days 1,781 sqft
    2024-10-01 0 days 1,736 sqft
    Roanoke Rapids's median listing age (time on market) for 2024-10-01 was 0 days.

    Roanoke Rapids's median square footage for active listings during the 2024-10-01 period was 1,736 sqft. One year prior, the average listing was 1,969 sqft.

    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.