Seneca VA Loan Rates, Closing Costs & Stats

Seneca, 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.

    Seneca's 37 lenders originated 93 VA loans during 2023. The total origination value was $32,285,000, with an average VA loan value of $347,151.

    Seneca VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Seneca averaged 6.55% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

    Seneca's average VA mortgage closing costs are $5,667.

    The average rate for the prior week (2024-04-05) was 6.8% and one month ago for the week of 2024-03-08, the average rate was 6.43%.

    The average rate one year ago was 6.02%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.37%.

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

    Seneca 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 Seneca level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 14 6.67% $9,784
    NAVY FEDERAL CREDIT UNION 6 5.69% $3,508
    FBC MORTGAGE, LLC 5 6.38% $5,177
    QUICKEN LOANS, LLC 5 6.04% $11,292
    NVR Mortgage Finance, Inc. 5 5.50% $6,806
    USAA Federal Savings Bank 4 6.41% $9,849
    NEW DAY FINANCIAL, LLC 3 7.41% $11,727
    UNITED WHOLESALE MORTGAGE, LLC 3 7.18% $4,690
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.21% $4,983
    BANKSOUTH MORTGAGE COMPANY, LLC 3 5.96% $12,748
    ON Q FINANCIAL, INC. 3 6.50% $7,848
    FREEDOM MORTGAGE CORPORATION 3 6.46% $5,349
    MOVEMENT MORTGAGE, LLC 2 6.75% $3,221
    DHI MORTGAGE COMPANY, LTD. 2 5.19% $4,968
    INSPIRE HOME LOANS INC. 2 5.88% $4,575
    LOANDEPOT.COM, LLC 2 4.81% $6,724
    PENNYMAC LOAN SERVICES, LLC 2 6.00% $16,480
    The Federal Savings Bank 2 6.25% $6,797
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $15,200
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $7,130
    GUARANTEED RATE, INC. 1 6.25% $5,877
    NBKC BANK 1 6.13% $20,149
    GSF Mortgage Corporation 1 7.13% $11,528
    NEWREZ LLC 1 6.75% $165
    NTFN, INC. 1 7.25% $9,033
    FIRST COMMUNITY MORTGAGE, INC. 1 5.63% $13,530
    First Community Bank 1 7.50% $4,982
    BM Real Estate Services, Inc. 1 6.75% $165
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $3,913
    PLANET HOME LENDING, LLC 1 5.50% $4,326
    CROSSCOUNTRY MORTGAGE, LLC 1 6.19% $0
    Century Mortgage Company DBA Century Lending Company 1 7.63% $12,342
    Southern First Bank 1 7.38% $4,805
    HOMESTEAD FUNDING CORP. 1 5.75% $1,583
    Barrington Bank & Trust Company, N.A. 1 6.25% $2,967
    UNION HOME MORTGAGE CORP. 1 7.25% $16,007
    HOMESTAR FINANCIAL CORPORATION 1 6.63% $12,934

    The top Seneca VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $9,784, which is $6,276 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Seneca VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($9,784), .

    The lowest rate Seneca VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.67%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Seneca (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 $249,000 (2.0%) $403,462 (4.3%) 0.00 547
    2018-02-01 $249,900 (4.7%) $411,046 (8.5%) 0.00 548
    2018-03-01 $272,450 (14.2%) $443,408 (16.1%) 0.00 594
    2018-04-01 $282,450 (17.9%) $432,103 (12.6%) 0.00 622
    2018-05-01 $285,000 (19.0%) $430,410 (10.3%) 0.00 613
    2018-06-01 $280,000 (18.2%) $429,551 (11.6%) 0.00 633
    2018-07-01 $289,350 (21.1%) $449,959 (15.3%) 0.00 639
    2018-08-01 $289,000 (16.3%) $440,292 (11.6%) 0.00 635
    2018-09-01 $279,900 (12.4%) $439,637 (11.0%) 0.00 637
    2018-10-01 $279,000 (11.9%) $442,514 (12.1%) 0.00 624
    2018-11-01 $275,000 (10.0%) $437,728 (8.2%) 0.00 617
    2018-12-01 $274,500 (10.3%) $433,917 (9.4%) 0.00 574
    2019-01-01 $274,950 (10.4%) $444,551 (10.2%) 0.00 545
    2019-02-01 $269,945 (8.0%) $465,531 (13.3%) 0.00 550
    2019-03-01 $280,400 (2.9%) $485,109 (9.4%) 0.00 515
    2019-04-01 $297,000 (5.2%) $492,221 (13.9%) 0.00 468
    2019-05-01 $299,475 (5.1%) $507,577 (17.9%) 0.00 471
    2019-06-01 $310,000 (10.7%) $514,069 (19.7%) 0.00 469
    2019-07-01 $294,450 (1.8%) $493,191 (9.6%) 0.00 460
    2019-08-01 $291,727 (0.9%) $487,055 (10.6%) 0.00 452
    2019-09-01 $295,818 (5.7%) $493,294 (12.2%) 0.00 433
    2019-10-01 $304,475 (9.1%) $508,002 (14.8%) 0.00 419
    2019-11-01 $319,450 (16.2%) $519,744 (18.7%) 0.00 408
    2019-12-01 $300,000 (9.3%) $496,401 (14.4%) 0.00 383
    2020-01-01 $299,725 (9.0%) $484,777 (9.1%) 0.00 357
    2020-02-01 $295,000 (9.3%) $479,298 (3.0%) 0.00 337
    2020-03-01 $299,950 (7.0%) $504,563 (4.0%) 0.00 341
    2020-04-01 $300,000 (1.0%) $488,314 (-0.8%) 0.00 338
    2020-05-01 $300,000 (0.2%) $504,753 (-0.6%) 0.00 331
    2020-06-01 $299,800 (-3.3%) $528,353 (2.8%) 0.00 303
    2020-07-01 $305,000 (3.6%) $522,541 (6.0%) 0.00 263
    2020-08-01 $300,000 (2.8%) $523,577 (7.5%) 0.00 247
    2020-09-01 $299,950 (1.4%) $531,680 (7.8%) 0.00 221
    2020-10-01 $299,000 (-1.8%) $535,438 (5.4%) 0.00 204
    2020-11-01 $299,669 (-6.2%) $531,351 (2.2%) 0.00 183
    2020-12-01 $292,624 (-2.5%) $510,830 (2.9%) 0.00 176
    2021-01-01 $290,950 (-2.9%) $510,037 (5.2%) 0.00 160
    2021-02-01 $295,000 (0.0%) $569,473 (18.8%) 0.00 149
    2021-03-01 $325,000 (8.4%) $597,871 (18.5%) 0.00 139
    2021-04-01 $342,000 (14.0%) $608,075 (24.5%) 0.00 122
    2021-05-01 $339,900 (13.3%) $566,665 (12.3%) 0.00 118
    2021-06-01 $344,975 (15.1%) $538,015 (1.8%) 0.00 146
    2021-07-01 $329,500 (8.0%) $514,443 (-1.6%) 0.00 170
    2021-08-01 $347,000 (15.7%) $559,686 (6.9%) 0.00 174
    2021-09-01 $344,075 (14.7%) $538,533 (1.3%) 0.00 168
    2021-10-01 $324,900 (8.7%) $521,635 (-2.6%) 0.00 154
    2021-11-01 $315,901 (5.4%) $518,398 (-2.4%) 0.00 182
    2021-12-01 $302,546 (3.4%) $505,095 (-1.1%) 0.00 166
    2022-01-01 $280,940 (-3.4%) $514,122 (0.8%) 0.00 150
    2022-02-01 $296,225 (0.4%) $502,416 (-11.8%) 0.00 149
    2022-03-01 $312,500 (-3.9%) $559,225 (-6.5%) 0.00 147
    2022-04-01 $341,133 (-0.3%) $565,689 (-7.0%) 0.00 165
    2022-05-01 $346,816 (2.0%) $587,930 (3.8%) 0.00 207
    2022-06-01 $350,138 (1.5%) $616,935 (14.7%) 0.00 222
    2022-07-01 $354,258 (7.5%) $642,234 (24.8%) 0.00 261
    2022-08-01 $360,337 (3.8%) $676,718 (20.9%) 0.00 293
    2022-09-01 $349,050 (1.5%) $653,850 (21.4%) 0.00 294
    2022-10-01 $347,348 (6.9%) $637,430 (22.2%) 0.00 299
    2022-11-01 $366,655 (16.1%) $678,663 (30.9%) 0.00 289
    2022-12-01 $363,294 (20.1%) $647,173 (28.1%) 0.00 279
    2023-01-01 $362,000 (28.9%) $603,057 (17.3%) 0.00 267
    2023-02-01 $359,950 (21.5%) $624,887 (24.4%) 0.00 254
    2023-03-01 $393,950 (26.1%) $710,980 (27.1%) 0.00 244
    2023-04-01 $393,600 (15.4%) $715,641 (26.5%) 0.00 216
    2023-05-01 $415,175 (19.7%) $731,171 (24.4%) 0.00 222
    2023-06-01 $406,175 (16.0%) $700,307 (13.5%) 0.00 223
    2023-07-01 $375,000 (5.9%) $655,615 (2.1%) 0.00 217
    2023-08-01 $376,500 (4.5%) $643,553 (-4.9%) 0.00 243
    2023-09-01 $399,000 (14.3%) $670,027 (2.5%) 0.00 250
    2023-10-01 $394,500 (13.6%) $639,898 (0.4%) 0.00 281
    2023-11-01 $382,225 (4.3%) $610,390 (-10.1%) 0.00 292
    2023-12-01 $374,500 (3.1%) $593,439 (-8.3%) 0.00 293
    2024-01-01 $358,750 (-0.9%) $574,095 (-4.8%) 0.00 297
    2024-02-01 $358,225 (-0.5%) $562,928 (-9.9%) 0.00 284
    2024-03-01 $400,000 (1.5%) $596,647 (-16.1%) 0.00 305
    Seneca's median listing price for 2024-03-01 was $400,000, a difference of $6,050 (1.5%) versus the prior year and $41,775 versus the prior month.

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

    Seneca's average listing price for 2024-03-01 was $596,647, a difference of $-114,333 (-16.1%) versus the prior year and $33,719 versus the prior month.

    For the 2024-03-01 period, Seneca had 305 MLS listings, a difference of 21 listings (7%) versus the prior month and 61 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Seneca (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,454 sqft
    2018-02-01 0 days 2,433 sqft
    2018-03-01 0 days 2,500 sqft
    2018-04-01 0 days 2,548 sqft
    2018-05-01 0 days 2,600 sqft
    2018-06-01 0 days 2,533 sqft
    2018-07-01 0 days 2,598 sqft
    2018-08-01 0 days 2,587 sqft
    2018-09-01 0 days 2,548 sqft
    2018-10-01 0 days 2,545 sqft
    2018-11-01 0 days 2,458 sqft
    2018-12-01 0 days 2,438 sqft
    2019-01-01 0 days 2,382 sqft
    2019-02-01 0 days 2,305 sqft
    2019-03-01 0 days 2,320 sqft
    2019-04-01 0 days 2,399 sqft
    2019-05-01 0 days 2,523 sqft
    2019-06-01 0 days 2,557 sqft
    2019-07-01 0 days 2,499 sqft
    2019-08-01 0 days 2,508 sqft
    2019-09-01 0 days 2,524 sqft
    2019-10-01 0 days 2,655 sqft
    2019-11-01 0 days 2,746 sqft
    2019-12-01 0 days 2,594 sqft
    2020-01-01 0 days 2,569 sqft
    2020-02-01 0 days 2,446 sqft
    2020-03-01 0 days 2,450 sqft
    2020-04-01 0 days 2,448 sqft
    2020-05-01 0 days 2,470 sqft
    2020-06-01 0 days 2,510 sqft
    2020-07-01 0 days 2,546 sqft
    2020-08-01 0 days 2,571 sqft
    2020-09-01 0 days 2,552 sqft
    2020-10-01 0 days 2,400 sqft
    2020-11-01 0 days 2,309 sqft
    2020-12-01 0 days 2,225 sqft
    2021-01-01 0 days 2,183 sqft
    2021-02-01 0 days 2,153 sqft
    2021-03-01 0 days 2,218 sqft
    2021-04-01 0 days 2,353 sqft
    2021-05-01 0 days 2,100 sqft
    2021-06-01 0 days 2,085 sqft
    2021-07-01 0 days 2,028 sqft
    2021-08-01 0 days 2,121 sqft
    2021-09-01 0 days 2,149 sqft
    2021-10-01 0 days 1,982 sqft
    2021-11-01 0 days 1,931 sqft
    2021-12-01 0 days 1,926 sqft
    2022-01-01 0 days 1,801 sqft
    2022-02-01 0 days 1,824 sqft
    2022-03-01 0 days 2,092 sqft
    2022-04-01 0 days 2,225 sqft
    2022-05-01 0 days 2,127 sqft
    2022-06-01 0 days 2,228 sqft
    2022-07-01 0 days 2,134 sqft
    2022-08-01 0 days 2,189 sqft
    2022-09-01 0 days 2,168 sqft
    2022-10-01 0 days 2,173 sqft
    2022-11-01 0 days 2,212 sqft
    2022-12-01 0 days 2,195 sqft
    2023-01-01 0 days 2,077 sqft
    2023-02-01 0 days 2,044 sqft
    2023-03-01 0 days 2,273 sqft
    2023-04-01 0 days 2,256 sqft
    2023-05-01 0 days 2,305 sqft
    2023-06-01 0 days 2,241 sqft
    2023-07-01 0 days 2,076 sqft
    2023-08-01 0 days 2,168 sqft
    2023-09-01 0 days 2,225 sqft
    2023-10-01 0 days 2,272 sqft
    2023-11-01 0 days 2,285 sqft
    2023-12-01 0 days 2,120 sqft
    2024-01-01 0 days 2,100 sqft
    2024-02-01 0 days 2,000 sqft
    2024-03-01 0 days 2,000 sqft
    Seneca's median listing age (time on market) for 2024-03-01 was 0 days.

    Seneca's median square footage for active listings during the 2024-03-01 period was 2,000 sqft. One year prior, the average listing was 2,273 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.