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 69 lenders originated 305 VA loans during 2024. The total origination value was $83,425,000, with an average VA loan value of $273,525.

Rocky Mount VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Rocky Mount averaged 0.45% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Rocky Mount's average VA mortgage closing costs are $5,207.

The average rate for the prior week (2025-06-13) was 6.9% and one month ago for the week of 2025-05-16, the average rate was 6.86%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.35%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 58 6.38% $4,800
NAVY FEDERAL CREDIT UNION 19 5.76% $3,695
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 18 6.07% $7,802
UNITED WHOLESALE MORTGAGE, LLC 18 5.92% $8,436
PENNYMAC LOAN SERVICES, LLC 13 5.73% $5,988
FREEDOM MORTGAGE CORPORATION 12 6.68% $6,331
NEW DAY FINANCIAL, LLC 10 7.45% $9,256
QUICKEN LOANS, LLC 10 6.08% $8,440
FBC MORTGAGE, LLC 9 5.69% $9,327
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.16% $3,375
NEWREZ LLC 7 6.32% $5,624
DHI MORTGAGE COMPANY, LTD. 7 4.73% $3,395
GUARANTEED RATE, INC. 6 6.31% $3,561
LOANDEPOT.COM, LLC 6 6.43% $8,564
BROKER SOLUTIONS, INC. 5 6.83% $6,924
VILLAGE CAPITAL MORTGAGE 5 5.58% $6,513
GUILD MORTGAGE COMPANY 4 6.16% $3,608
Keystone Funding, Inc. 4 6.13% $7,238
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.19% $6,375
VELOCIO MORTGAGE L.L.C. 3 5.66% $5,969
CLEARPATH LENDING 3 5.96% $4,701
MOVEMENT MORTGAGE, LLC 3 6.21% $3,151
INSPIRE HOME LOANS INC. 3 5.00% $5,545
CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $11,363
Integrity Home Mortgage Corp 2 6.38% $6,042
INTERCOASTAL MORTGAGE COMPANY 2 6.62% $4,545
Magnolia Bank 2 5.63% $10,361
PNC Bank 2 6.50% $10,631
Southern Bank and Trust Company 2 5.00% $10,031
Towne Mortgage of the Carolinas, LLC 2 6.31% $10,133
Truist 2 5.90% $5,857
VERITAS FUNDING, LLC 2 6.50% $14,968
Wells Fargo Bank 2 6.56% $4,997
LAKEVIEW LOAN SERVICING, LLC 1 5.99% $4,707
Credence Funding Corporation 1 5.38% $5,608
AmeriHome Mortgage Company, LLC 1 5.88% $5,592
Mid-Continent Funding, Inc. 1 5.75% $3,826
Corporate Investors Mortgage Group, Inc. 1 5.25% $3,071
CORNERSTONE HOME LENDING, INC. 1 6.75% $1,129
Carrington Mortgage Services, LLC 1 6.25% $7,222
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $16,522
CARDINAL FINANCIAL 1 6.25% $5,679
NBKC BANK 1 6.38% $13,408
CALCON MUTUAL MORTGAGE LLC 1 5.88% $11,672
Barrington Bank & Trust Company, N.A. 1 7.25% $2,738
NFM, INC. 1 7.63% $5,910
NVR Mortgage Finance, Inc. 1 5.99% $1,634
AmRes Corporation 1 6.75% $11,519
USAA Federal Savings Bank 1 5.63% $4,886
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $2,706
Prosperity Home Mortgage, LLC 1 5.25% $7,491
AMERISAVE MORTGAGE CORPORATION 1 5.75% $16,042
RELIANCE FIRST CAPITAL, LLC 1 7.50% $5,847
Renasant Bank 1 5.75% $1
American Security Mortgage Corp. 1 5.63% $3,826
SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $6,524
The Federal Savings Bank 1 6.13% $19,258
TIDEWATER MORTGAGE SERVICES, INC. 1 5.75% $6,035
TOP FLITE FINANCIAL, INC. 1 7.00% $12,660
ZILLOW HOME LOANS, LLC 1 6.25% $7,997
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $1,722
EQUITY RESOURCES, INC. 1 7.25% $1,751
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $4,258
UNION HOME MORTGAGE CORP. 1 6.88% $3,530
Ixonia Bank 1 5.63% $18,315
JPMorgan Chase Bank 1 6.25% $2,452
AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $3,294
LADERA LENDING, INC. 1 6.13% $10,449
Lakeview Community Capital, LLC 1 4.99% $6,469

The top Rocky Mount VA lender as defined by loan originations is Mortgage Research Center, LLC, with 58 VA loans originated. Their average total fees are $4,800, which is $1,105 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

The lowest fee Rocky Mount VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,695), Mortgage Research Center, LLC ($4,800), PENNYMAC LOAN SERVICES, LLC ($5,988), FREEDOM MORTGAGE CORPORATION ($6,331) and ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($7,802).

The lowest rate Rocky Mount VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.73%), NAVY FEDERAL CREDIT UNION (5.76%), UNITED WHOLESALE MORTGAGE, LLC (5.92%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.07%) and QUICKEN LOANS, LLC (6.08%).

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.