Rocky Mount VA Loan Rates, Closing Costs & Stats

ROCKY MOUNT, 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.

Rocky Mount's 71 lenders originated 294 VA loans during 2022. The total origination value was $77,550,000, with an average VA loan value of $263,776.

Rocky Mount VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Rocky Mount averaged 5.92% for the week of 2024-03-01, compared to the national average (all VA variants) of 6.517% for the same period.

Rocky Mount's average VA mortgage closing costs are $4,663.

The average rate for the prior week (2024-02-23) was 6.04% and one month ago for the week of 2024-01-26, the average rate was 5.87%.

The average rate one year ago was 5.81%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.56%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 60 5.27% $5,698
QUICKEN LOANS, LLC 23 3.96% $8,064
NAVY FEDERAL CREDIT UNION 18 3.76% $5,409
FREEDOM MORTGAGE CORPORATION 17 4.34% $7,974
NEW DAY FINANCIAL, LLC 10 5.06% $9,941
LOANDEPOT.COM, LLC 9 3.47% $8,324
USAA Federal Savings Bank 8 3.88% $3,400
DHI MORTGAGE COMPANY, LTD. 8 3.50% $5,915
UNITED WHOLESALE MORTGAGE, LLC 8 4.31% $9,721
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 4.75% $4,220
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 5.67% $6,087
PENNYMAC LOAN SERVICES, LLC 5 2.53% $4,170
NFM, INC. 5 5.25% $6,708
CROSSCOUNTRY MORTGAGE, LLC 4 4.28% $6,331
MOVEMENT MORTGAGE, LLC 4 4.63% $5,177
Barrington Bank & Trust Company, N.A. 4 4.63% $6,469
VILLAGE CAPITAL MORTGAGE 4 3.91% $6,122
Mid-Continent Funding, Inc. 4 4.75% $5,412
Towne Bank 3 4.46% $7,812
HOMESPIRE MORTGAGE CORPORATION 3 4.92% $9,849
INSPIRE HOME LOANS INC. 3 5.29% $4,368
Wells Fargo Bank 3 5.25% $3,507
BROKER SOLUTIONS, INC. 3 4.92% $7,143
CLEARPATH LENDING 3 3.42% $10,524
CORNERSTONE HOME LENDING, INC. 3 4.66% $3,573
GUARANTEED RATE, INC. 3 3.58% $14,308
LAKEVIEW LOAN SERVICING, LLC 2 2.63% $2,235
Equity Prime Mortgage LLC 2 5.25% $12,051
EQUITY RESOURCES, INC. 2 4.81% $3,497
PENTAGON FEDERAL CREDIT UNION 2 4.75% $5,246
CALIBER HOME LOANS, INC. 2 3.38% $4,064
Southern Bank and Trust Company 2 4.38% $4,105
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.25% $11,737
The Federal Savings Bank 2 4.06% $9,101
HOME POINT FINANCIAL CORPORATION 2 5.81% $8,770
Hometown Lenders, Inc. 2 4.00% $14,915
Truist 1 5.00% $2,495
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $6,120
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.99% $12,605
American Security Mortgage Corp. 1 3.50% $3,226
AMERISAVE MORTGAGE CORPORATION 1 6.50% $427
ANGEL OAK HOME LOANS LLC 1 3.88% $2,706
Atlantic Coast Mortgage, LLC 1 4.75% $4,575
CARDINAL FINANCIAL 1 2.25% $13,532
CHURCHILL MORTGAGE CORPORATION 1 5.50% $4,219
Citizens Bank 1 3.88% $19,455
CMG MORTGAGE, INC. 1 3.88% $17,626
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $4,769
First-Citizens Bank & Trust Company 1 4.00% $3,563
First Heritage Mortgage, LLC 1 5.75% $6,881
Flagstar Bank, FSB 1 4.75% $13,551
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $2,507
GoPrime Mortgage, Inc. 1 4.25% $7,305
INTERCOASTAL MORTGAGE COMPANY 1 3.63% $5,636
Magnolia Bank 1 6.12% $10,347
Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $6,625
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.88% $5,747
Nations Lending Corporation 1 5.25% $12,555
NEWREZ LLC 1 5.25% $10,563
Northpointe Bank 1 4.00% $4,272
Paramount Residential Mortgage Group, Inc. 1 7.13% $5,679
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $8,074
Prosperity Home Mortgage, LLC 1 3.25% $3,486
RELIANCE FIRST CAPITAL, LLC 1 3.88% $7,515
ROYAL UNITED MORTGAGE LLC 1 4.00% $5,530
SOUTHWEST FUNDING, LP 1 7.13% $8,311
Alpha Mortgage Corporation 1 4.63% $6,198
UNION HOME MORTGAGE CORP. 1 5.75% $2,860
United Bank 1 4.13% $5,457
United Community Bank 1 5.13% $8,026
Victorian Finance, LLC 1 3.38% $5,907

The top Rocky Mount VA lender as defined by loan originations is Mortgage Research Center, LLC, with 60 VA loans originated. Their average total fees are $5,698, which is $2,366 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Rocky Mount VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,409), Mortgage Research Center, LLC ($5,698), FREEDOM MORTGAGE CORPORATION ($7,974), QUICKEN LOANS, LLC ($8,064) and NEW DAY FINANCIAL, LLC ($9,941).

The lowest rate Rocky Mount VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.76%), QUICKEN LOANS, LLC (3.96%), FREEDOM MORTGAGE CORPORATION (4.34%), NEW DAY FINANCIAL, LLC (5.06%) and Mortgage Research Center, LLC (5.27%).


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
Rocky Mount's median listing price for 2024-01-01 was $288,450, a difference of $10,977 (4.0%) versus the prior year and $-3,950 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 2024-01-01 was $289,168, a difference of $-13,521 (-4.5%) versus the prior year and $-2,133 versus the prior month.

For the 2024-01-01 period, Rocky Mount had 299 MLS listings, a difference of -14 listings (-4%) versus the prior month and 28 listings (10%) 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
Rocky Mount's median listing age (time on market) for 2024-01-01 was 62 days. This is -28% shorter than the same period one year ago.

Rocky Mount's median square footage for active listings during the 2024-01-01 period was 1,800 sqft. One year prior, the average listing was 1,870 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.