Rocky Mount VA Loan Rates, Closing Costs & Stats

ROCKY MOUNT, 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.

    Rocky Mount's 62 lenders originated 232 VA loans during 2023. The total origination value was $65,540,000, with an average VA loan value of $282,500.

    Rocky Mount VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Rocky Mount averaged 6.49% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Rocky Mount's average VA mortgage closing costs are $5,011.

    The average rate for the prior week (2024-11-01) was 6.35% and one month ago for the week of 2024-10-04, the average rate was 5.47%.

    The average rate one year ago was 7.43%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.76%.

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

    Rocky Mount 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 Rocky Mount level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 45 6.80% $5,910
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 17 6.35% $6,853
    QUICKEN LOANS, LLC 14 6.07% $8,601
    UNITED WHOLESALE MORTGAGE, LLC 12 6.16% $12,706
    NAVY FEDERAL CREDIT UNION 7 5.57% $2,073
    INSPIRE HOME LOANS INC. 7 6.14% $3,167
    PENNYMAC LOAN SERVICES, LLC 7 5.80% $7,870
    FREEDOM MORTGAGE CORPORATION 6 7.17% $16,227
    The Federal Savings Bank 6 6.44% $8,864
    GUARANTEED RATE, INC. 6 6.30% $5,959
    FBC MORTGAGE, LLC 5 5.57% $1,507
    MOVEMENT MORTGAGE, LLC 5 6.73% $9,614
    LOANDEPOT.COM, LLC 4 6.16% $11,689
    Barrington Bank & Trust Company, N.A. 4 6.84% $4,247
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.62% $4,530
    Towne Mortgage of the Carolinas, LLC 3 5.92% $6,835
    GUILD MORTGAGE COMPANY 3 6.79% $3,134
    JET HOMELOANS, LLC 3 6.04% $459
    NEW DAY FINANCIAL, LLC 3 7.66% $16,104
    NFM, INC. 3 7.38% $8,461
    Truist 3 6.53% $3,671
    USAA Federal Savings Bank 3 5.88% $8,467
    VILLAGE CAPITAL MORTGAGE 2 7.13% $7,132
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.88% $2,042
    NVR Mortgage Finance, Inc. 2 5.56% $11,462
    Credence Funding Corporation 2 5.63% $6,014
    DHI MORTGAGE COMPANY, LTD. 2 4.99% $7,976
    CARDINAL FINANCIAL 2 7.19% $3,293
    American Security Mortgage Corp. 2 6.38% $8,684
    NEWREZ LLC 2 6.75% $7,998
    Citizens Bank 1 6.63% $2,159
    Mr. Cooper ( Nationstar Mortgage ) 1 5.50% $13,312
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $5,714
    NATION ONE MORTGAGE CORPORATION 1 6.75% $14,727
    ZILLOW HOME LOANS, LLC 1 5.75% $6,440
    Northpointe Bank 1 7.13% $3,965
    CALCON MUTUAL MORTGAGE LLC 1 7.25% $10,100
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.63% $9,268
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $7,807
    Prosperity Home Mortgage, LLC 1 6.75% $25,028
    Armed Forces Bank 1 6.25% $9,539
    ROYAL UNITED MORTGAGE LLC 1 7.25% $8,000
    Shamrock Home Loans, Inc. 1 6.75% $14,922
    SUN WEST MORTGAGE COMPANY, INC. 1 8.25% $8,888
    The Central Trust Bank 1 6.75% $13,080
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $14,677
    Towne Bank 1 6.25% $4,569
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $150
    Wells Fargo Bank 1 5.75% $13,162
    First Heritage Mortgage, LLC 1 6.75% $6,685
    Flagstar Bank, FSB 1 7.25% $5,970
    CROSSCOUNTRY MORTGAGE, LLC 1 7.50% $4,305
    United Bank 1 5.25% $4,228
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $8,471
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.50% $33,682
    HOMESIDE FINANCIAL, LLC 1 7.25% $12,141
    HOMESPIRE MORTGAGE CORPORATION 1 5.50% $4,320
    Integrity Home Mortgage Corp 1 6.50% $17,402
    Corporate Investors Mortgage Group, Inc. 1 7.00% $4,819
    Meridian Bank Corporation 1 7.25% $10,552
    MLD MORTGAGE INC. 1 5.88% $8,888
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $3,542

    The top Rocky Mount VA lender as defined by loan originations is Mortgage Research Center, LLC, with 45 VA loans originated. Their average total fees are $5,910, which is $943 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

    The lowest fee Rocky Mount VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,910), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,853), QUICKEN LOANS, LLC ($8,601), UNITED WHOLESALE MORTGAGE, LLC ($12,706) and .

    The lowest rate Rocky Mount VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.07%), UNITED WHOLESALE MORTGAGE, LLC (6.16%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.35%), Mortgage Research Center, LLC (6.80%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Rocky Mount (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 $133,490 (11.3%) $170,429 (11.0%) 0.49 520
    2018-02-01 $132,500 (20.6%) $170,486 (-7.3%) 0.48 494
    2018-03-01 $135,000 (22.8%) $174,645 (8.0%) 0.47 482
    2018-04-01 $141,000 (22.7%) $178,086 (6.6%) 0.48 489
    2018-05-01 $133,948 (16.6%) $171,498 (1.9%) 0.45 528
    2018-06-01 $135,200 (14.2%) $170,730 (6.8%) 0.45 525
    2018-07-01 $135,900 (13.3%) $172,533 (9.4%) 0.45 499
    2018-08-01 $144,245 (16.4%) $178,849 (13.9%) 0.48 489
    2018-09-01 $144,695 (16.2%) $177,598 (13.2%) 0.49 474
    2018-10-01 $142,035 (10.4%) $174,595 (7.2%) 0.48 457
    2018-11-01 $135,500 (4.1%) $169,930 (1.5%) 0.46 449
    2018-12-01 $138,900 (4.6%) $172,172 (2.0%) 0.48 418
    2019-01-01 $134,150 (0.5%) $171,425 (0.6%) 0.46 423
    2019-02-01 $134,900 (1.8%) $170,280 (-0.1%) 0.46 432
    2019-03-01 $133,681 (-1.0%) $173,101 (-0.9%) 0.44 430
    2019-04-01 $132,201 (-6.2%) $178,029 (0.0%) 0.42 428
    2019-05-01 $134,945 (0.7%) $182,204 (6.2%) 0.42 425
    2019-06-01 $134,900 (-0.2%) $190,301 (11.5%) 0.42 397
    2019-07-01 $135,470 (-0.3%) $195,998 (13.6%) 0.42 391
    2019-08-01 $135,336 (-6.2%) $191,891 (7.3%) 0.43 393
    2019-09-01 $134,416 (-7.1%) $185,613 (4.5%) 0.43 396
    2019-10-01 $131,800 (-7.2%) $177,256 (1.5%) 0.43 395
    2019-11-01 $134,900 (-0.4%) $177,940 (4.7%) 0.44 382
    2019-12-01 $149,800 (7.9%) $185,696 (7.9%) 0.50 327
    2020-01-01 $148,548 (10.7%) $185,363 (8.1%) 0.50 318
    2020-02-01 $149,950 (11.2%) $190,936 (12.1%) 0.49 315
    2020-03-01 $156,900 (17.4%) $198,001 (14.4%) 0.49 306
    2020-04-01 $150,000 (13.5%) $197,357 (10.9%) 0.47 297
    2020-05-01 $151,950 (12.6%) $198,607 (9.0%) 0.46 269
    2020-06-01 $160,000 (18.6%) $206,900 (8.7%) 0.47 216
    2020-07-01 $160,000 (18.1%) $217,464 (11.0%) 0.46 191
    2020-08-01 $164,000 (21.2%) $212,454 (10.7%) 0.47 170
    2020-09-01 $165,999 (23.5%) $216,857 (16.8%) 0.48 151
    2020-10-01 $199,900 (51.7%) $229,812 (29.7%) 0.57 172
    2020-11-01 $201,200 (49.2%) $222,928 (25.3%) 0.59 170
    2020-12-01 $204,800 (36.7%) $229,744 (23.7%) 0.61 176
    2021-01-01 $199,000 (34.0%) $227,323 (22.6%) 0.59 164
    2021-02-01 $194,650 (29.8%) $231,039 (21.0%) 0.57 139
    2021-03-01 $200,625 (27.9%) $238,968 (20.7%) 0.57 125
    2021-04-01 $216,850 (44.6%) $249,544 (26.4%) 0.59 116
    2021-05-01 $222,000 (46.1%) $255,646 (28.7%) 0.59 112
    2021-06-01 $219,850 (37.4%) $251,471 (21.5%) 0.58 144
    2021-07-01 $202,450 (26.5%) $239,356 (10.1%) 0.53 167
    2021-08-01 $202,995 (23.8%) $252,582 (18.9%) 0.54 201
    2021-09-01 $199,650 (20.3%) $252,590 (16.5%) 0.53 210
    2021-10-01 $210,000 (5.1%) $263,081 (14.5%) 0.56 187
    2021-11-01 $201,250 (0.0%) $249,540 (11.9%) 0.54 210
    2021-12-01 $211,895 (3.5%) $254,355 (10.7%) 0.57 186
    2022-01-01 $224,900 (13.0%) $263,973 (16.1%) 0.61 152
    2022-02-01 $219,900 (13.0%) $247,101 (7.0%) 0.57 111
    2022-03-01 $219,500 (9.4%) $249,149 (4.3%) 0.55 91
    2022-04-01 $220,320 (1.6%) $246,748 (-1.1%) 0.53 108
    2022-05-01 $233,575 (5.2%) $259,827 (1.6%) 0.53 148
    2022-06-01 $249,925 (13.7%) $278,334 (10.7%) 0.56 156
    2022-07-01 $252,400 (24.7%) $281,478 (17.6%) 0.57 197
    2022-08-01 $273,650 (34.8%) $286,569 (13.5%) 0.63 237
    2022-09-01 $284,030 (42.3%) $294,249 (16.5%) 0.66 249
    2022-10-01 $277,450 (32.1%) $292,338 (11.1%) 0.65 293
    2022-11-01 $277,424 (37.9%) $291,946 (17.0%) 0.67 318
    2022-12-01 $269,900 (27.4%) $294,643 (15.8%) 0.67 301
    2023-01-01 $277,473 (23.4%) $302,689 (14.7%) 0.69 271
    2023-02-01 $277,995 (26.4%) $300,512 (21.6%) 0.67 264
    2023-03-01 $289,900 (32.1%) $309,481 (24.2%) 0.68 250
    2023-04-01 $294,900 (33.9%) $310,232 (25.7%) 0.69 236
    2023-05-01 $299,923 (28.4%) $307,694 (18.4%) 0.68 220
    2023-06-01 $306,468 (22.6%) $322,357 (15.8%) 0.69 246
    2023-07-01 $300,000 (18.9%) $306,259 (8.8%) 0.68 238
    2023-08-01 $301,494 (10.2%) $309,281 (7.9%) 0.69 232
    2023-09-01 $299,990 (5.6%) $311,177 (5.8%) 0.70 246
    2023-10-01 $300,647 (8.4%) $299,349 (2.4%) 0.71 262
    2023-11-01 $287,350 (3.6%) $292,729 (0.3%) 0.68 288
    2023-12-01 $292,400 (8.3%) $291,301 (-1.1%) 0.71 313
    2024-01-01 $288,450 (4.0%) $289,168 (-4.5%) 0.70 299
    2024-02-01 $279,598 (0.6%) $287,412 (-4.4%) 0.67 305
    2024-03-01 $278,400 (-4.0%) $286,780 (-7.3%) 0.66 307
    2024-04-01 $304,900 (3.4%) $298,750 (-3.7%) 0.71 297
    2024-05-01 $294,950 (-1.7%) $298,816 (-2.9%) 0.67 319
    2024-06-01 $299,900 (-2.1%) $303,197 (-5.9%) 0.67 351
    2024-07-01 $284,950 (-5.0%) $297,614 (-2.8%) 0.65 345
    2024-08-01 $279,990 (-7.1%) $294,586 (-4.8%) 0.65 367
    2024-09-01 $289,900 (-3.4%) $297,371 (-4.4%) 0.68 369
    2024-10-01 $296,125 (-1.5%) $303,711 (1.5%) 0.70 381
    Rocky Mount's median listing price for 2024-10-01 was $296,125, a difference of $-4,522 (-1.5%) versus the prior year and $6,225 versus the prior month.

    Rocky Mount's median listing price comes in at 70% of the national average.

    Rocky Mount's average listing price for 2024-10-01 was $303,711, a difference of $4,362 (1.5%) versus the prior year and $6,340 versus the prior month.

    For the 2024-10-01 period, Rocky Mount had 381 MLS listings, a difference of 12 listings (3%) versus the prior month and 119 listings (45%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Rocky Mount (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 109 days 1,768 sqft
    2018-02-01 101 days 1,737 sqft
    2018-03-01 99 days 1,778 sqft
    2018-04-01 76 days 1,859 sqft
    2018-05-01 62 days 1,720 sqft
    2018-06-01 67 days 1,740 sqft
    2018-07-01 74 days 1,728 sqft
    2018-08-01 88 days 1,803 sqft
    2018-09-01 88 days 1,792 sqft
    2018-10-01 95 days 1,769 sqft
    2018-11-01 93 days 1,763 sqft
    2018-12-01 100 days 1,766 sqft
    2019-01-01 94 days 1,756 sqft
    2019-02-01 77 days 1,730 sqft
    2019-03-01 75 days 1,710 sqft
    2019-04-01 78 days 1,691 sqft
    2019-05-01 80 days 1,699 sqft
    2019-06-01 84 days 1,698 sqft
    2019-07-01 90 days 1,700 sqft
    2019-08-01 84 days 1,681 sqft
    2019-09-01 79 days 1,652 sqft
    2019-10-01 76 days 1,632 sqft
    2019-11-01 85 days 1,658 sqft
    2019-12-01 85 days 1,747 sqft
    2020-01-01 96 days 1,696 sqft
    2020-02-01 84 days 1,790 sqft
    2020-03-01 64 days 1,863 sqft
    2020-04-01 67 days 1,846 sqft
    2020-05-01 75 days 1,770 sqft
    2020-06-01 86 days 1,875 sqft
    2020-07-01 73 days 1,889 sqft
    2020-08-01 64 days 1,772 sqft
    2020-09-01 53 days 1,806 sqft
    2020-10-01 42 days 1,777 sqft
    2020-11-01 51 days 1,828 sqft
    2020-12-01 64 days 1,790 sqft
    2021-01-01 64 days 1,789 sqft
    2021-02-01 47 days 1,866 sqft
    2021-03-01 47 days 1,806 sqft
    2021-04-01 40 days 1,922 sqft
    2021-05-01 43 days 1,928 sqft
    2021-06-01 35 days 1,985 sqft
    2021-07-01 41 days 1,892 sqft
    2021-08-01 40 days 1,823 sqft
    2021-09-01 43 days 1,771 sqft
    2021-10-01 44 days 1,809 sqft
    2021-11-01 44 days 1,742 sqft
    2021-12-01 49 days 1,755 sqft
    2022-01-01 56 days 1,776 sqft
    2022-02-01 66 days 1,660 sqft
    2022-03-01 42 days 1,692 sqft
    2022-04-01 33 days 1,690 sqft
    2022-05-01 31 days 1,716 sqft
    2022-06-01 35 days 1,684 sqft
    2022-07-01 39 days 1,704 sqft
    2022-08-01 44 days 1,735 sqft
    2022-09-01 52 days 1,859 sqft
    2022-10-01 54 days 1,894 sqft
    2022-11-01 56 days 1,859 sqft
    2022-12-01 70 days 1,824 sqft
    2023-01-01 86 days 1,870 sqft
    2023-02-01 83 days 1,880 sqft
    2023-03-01 67 days 1,927 sqft
    2023-04-01 58 days 1,902 sqft
    2023-05-01 51 days 1,940 sqft
    2023-06-01 49 days 1,894 sqft
    2023-07-01 51 days 1,869 sqft
    2023-08-01 53 days 1,876 sqft
    2023-09-01 47 days 1,902 sqft
    2023-10-01 54 days 1,846 sqft
    2023-11-01 49 days 1,808 sqft
    2023-12-01 51 days 1,811 sqft
    2024-01-01 62 days 1,800 sqft
    2024-02-01 64 days 1,741 sqft
    2024-03-01 56 days 1,772 sqft
    2024-04-01 55 days 1,732 sqft
    2024-05-01 52 days 1,689 sqft
    2024-06-01 49 days 1,724 sqft
    2024-07-01 58 days 1,704 sqft
    2024-08-01 65 days 1,707 sqft
    2024-09-01 66 days 1,758 sqft
    2024-10-01 64 days 1,800 sqft
    Rocky Mount's median listing age (time on market) for 2024-10-01 was 64 days. This is 20% longer than the same period one year ago.

    Rocky Mount's median square footage for active listings during the 2024-10-01 period was 1,800 sqft. One year prior, the average listing was 1,846 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.