Seneca VA Loan Rates, Closing Costs & Stats

Seneca, SC

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 6.95% 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 6.6% and one month ago for the week of 2024-03-08, the average rate was 6.43%.

The average rate one year ago was 5.92%.

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.