Shelby VA Loan Rates, Closing Costs & Stats

Shelby, NC

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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.

    Shelby's 49 lenders originated 190 VA loans during 2024. The total origination value was $54,240,000, with an average VA loan value of $285,474.

    Shelby VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Shelby averaged 0.35% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    Shelby's average VA mortgage closing costs are $5,738.

    The average rate for the prior week (2025-06-13) was 6.8% and one month ago for the week of 2025-05-16, the average rate was 6.96%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.04%.

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

    Shelby 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 Shelby level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 36 6.45% $4,354
    UNITED WHOLESALE MORTGAGE, LLC 26 5.75% $7,626
    QUICKEN LOANS, LLC 13 6.16% $10,442
    LOANDEPOT.COM, LLC 10 5.96% $5,460
    MOVEMENT MORTGAGE, LLC 7 6.70% $8,575
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 6.23% $6,909
    UNION HOME MORTGAGE CORP. 7 6.45% $7,018
    PENNYMAC LOAN SERVICES, LLC 6 5.46% $6,874
    VILLAGE CAPITAL MORTGAGE 6 5.37% $5,708
    FREEDOM MORTGAGE CORPORATION 6 5.96% $9,901
    NEW DAY FINANCIAL, LLC 5 7.42% $17,625
    CLEARPATH LENDING 4 5.44% $10,892
    GUILD MORTGAGE COMPANY 3 5.88% $12,410
    LAKEVIEW LOAN SERVICING, LLC 3 5.29% $5,690
    NAVY FEDERAL CREDIT UNION 3 6.29% $7,508
    USAA Federal Savings Bank 3 6.13% $7,191
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.00% $6,655
    DHI MORTGAGE COMPANY, LTD. 2 4.75% $4,102
    INSPIRE HOME LOANS INC. 2 6.00% $5,518
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $2,395
    NEWREZ LLC 2 5.56% $4,018
    ON Q FINANCIAL, INC. 2 6.38% $8,321
    The Federal Savings Bank 2 7.00% $9,520
    GUARANTEED RATE, INC. 1 6.63% $4,918
    U.S. Bank 1 6.25% $2,260
    Flagstar Bank, FSB 1 6.75% $8,612
    FBC MORTGAGE, LLC 1 5.99% $8,506
    NETWORK CAPITAL FUNDING CORPORATION 1 6.88% $19,752
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $192
    Uwharrie Bank 1 6.38% $9,340
    American Security Mortgage Corp. 1 6.13% $5,284
    Pacific Lending LLC 1 6.25% $11,984
    CROSSCOUNTRY MORTGAGE, LLC 1 6.13% $12,683
    PHH Mortgage Corporation 1 5.63% $5,031
    POLARIS HOME FUNDING CORP. 1 6.75% $8,714
    Credence Funding Corporation 1 5.38% $4,607
    RELIANCE FIRST CAPITAL, LLC 1 7.75% $12,104
    SUMMIT FUNDING, INC. 1 6.63% $2,823
    T2 FINANCIAL LLC 1 7.13% $1,051
    Texana Bank 1 6.25% $2,327
    ZILLOW HOME LOANS, LLC 1 6.50% $790
    Truliant Federal Credit Union 1 6.25% $2,260
    Century Mortgage Company DBA Century Lending Company 1 7.13% $11,300
    BROKER SOLUTIONS, INC. 1 6.38% $14,713
    AmeriHome Mortgage Company, LLC 1 6.13% $2,986
    Ixonia Bank 1 5.75% $20,069
    Integrity Home Mortgage Corp 1 6.75% $7,084
    Magnolia Bank 1 7.13% $10,176
    MID AMERICA MORTGAGE, INC. 1 6.00% $3,419

    The top Shelby VA lender as defined by loan originations is Mortgage Research Center, LLC, with 36 VA loans originated. Their average total fees are $4,354, which is $3,272 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Shelby VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($4,354), LOANDEPOT.COM, LLC ($5,460), UNITED WHOLESALE MORTGAGE, LLC ($7,626), QUICKEN LOANS, LLC ($10,442) and .

    The lowest rate Shelby VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.75%), LOANDEPOT.COM, LLC (5.96%), QUICKEN LOANS, LLC (6.16%), Mortgage Research Center, LLC (6.45%) and .

    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.