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 43 lenders originated 138 VA loans during 2024. The total origination value was $49,520,000, with an average VA loan value of $358,841.

    Seneca VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Seneca averaged 0.43% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Seneca's average VA mortgage closing costs are $5,906.

    The average rate for the prior week (2025-06-13) was 6.67% and one month ago for the week of 2025-05-16, the average rate was 6.83%.

    The average rate one year ago was 6.93%.

    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.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 22 6.60% $5,683
    UNITED WHOLESALE MORTGAGE, LLC 13 5.84% $11,066
    NAVY FEDERAL CREDIT UNION 8 5.69% $6,540
    FREEDOM MORTGAGE CORPORATION 8 6.48% $4,825
    FBC MORTGAGE, LLC 7 5.62% $4,160
    UNION HOME MORTGAGE CORP. 7 6.63% $9,065
    QUICKEN LOANS, LLC 6 6.01% $11,450
    USAA Federal Savings Bank 6 6.35% $7,449
    NVR Mortgage Finance, Inc. 5 5.72% $3,730
    NEW DAY FINANCIAL, LLC 3 7.78% $12,628
    NEWREZ LLC 3 6.25% $9,197
    INSPIRE HOME LOANS INC. 3 5.58% $5,366
    PLANET HOME LENDING, LLC 3 5.79% $6,489
    TOWNE MORTGAGE COMPANY 2 6.25% $8,600
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.50% $13,283
    GUARANTEED RATE, INC. 2 6.24% $1,275
    PENNYMAC LOAN SERVICES, LLC 2 5.19% $6,173
    ACOPIA, LLC 2 5.75% $1,970
    VERITAS FUNDING, LLC 2 5.88% $16,269
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $14,202
    JPMorgan Chase Bank 1 5.75% $7,154
    LADERA LENDING, INC. 1 6.75% $18,455
    LAKEVIEW LOAN SERVICING, LLC 1 5.50% $8,155
    Magnolia Bank 1 6.50% $15,744
    CROSSCOUNTRY MORTGAGE, LLC 1 7.19% $492
    MOVEMENT MORTGAGE, LLC 1 5.25% $2,958
    Countybank 1 6.75% $4,718
    CAROLINA ONE MORTGAGE, LLC 1 5.75% $14,090
    CARDINAL FINANCIAL 1 6.75% $12,797
    Barrington Bank & Trust Company, N.A. 1 7.75% $4,470
    Alcova Mortgage LLC 1 6.75% $34,921
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $3,788
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.99% $21,118
    AMERISAVE MORTGAGE CORPORATION 1 5.50% $8,267
    RAPID MORTGAGE COMPANY 1 6.13% $5,233
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.25% $9,351
    The Federal Savings Bank 1 7.38% $5,363
    VILLAGE CAPITAL MORTGAGE 1 4.75% $7,222
    AmeriHome Mortgage Company, LLC 1 5.50% $9,173
    GSF Mortgage Corporation 1 6.25% $18,135
    ALLIED MORTGAGE GROUP, INC. 1 6.25% $5,341
    HOMESIDE FINANCIAL, LLC 1 7.75% $7,884
    HOMESTEAD FUNDING CORP. 1 5.75% $1,611

    The top Seneca VA lender as defined by loan originations is Mortgage Research Center, LLC, with 22 VA loans originated. Their average total fees are $5,683, which is $5,382 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Seneca VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,683), UNITED WHOLESALE MORTGAGE, LLC ($11,066), .

    The lowest rate Seneca VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.84%), Mortgage Research Center, LLC (6.60%), .

    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.