Spartanburg VA Loan Rates, Closing Costs & Stats

SPARTANBURG, 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.

Spartanburg's 112 lenders originated 847 VA loans during 2024. The total origination value was $263,105,000, with an average VA loan value of $310,632.

Spartanburg VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Spartanburg averaged 5.97% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

Spartanburg's average VA mortgage closing costs are $5,963.

The average rate for the prior week (2025-03-28) was 6.49% and one month ago for the week of 2025-02-28, the average rate was 6.36%.

The average rate one year ago was 6.57%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.3%.

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

Spartanburg 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 Spartanburg level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 136 6.31% $6,037
UNITED WHOLESALE MORTGAGE, LLC 77 5.91% $7,490
DHI MORTGAGE COMPANY, LTD. 54 5.31% $6,336
QUICKEN LOANS, LLC 43 6.13% $9,563
FREEDOM MORTGAGE CORPORATION 33 6.36% $8,610
LOANDEPOT.COM, LLC 33 5.55% $11,336
NVR Mortgage Finance, Inc. 28 6.06% $4,872
NAVY FEDERAL CREDIT UNION 26 5.91% $4,530
PENNYMAC LOAN SERVICES, LLC 19 5.72% $7,277
MOVEMENT MORTGAGE, LLC 17 6.45% $7,626
CROSSCOUNTRY MORTGAGE, LLC 16 6.63% $7,324
VANDERBILT MORTGAGE AND FINANCE, INC. 16 5.57% $4,882
PRIMELENDING, A PLAINSCAPITAL COMPANY 15 5.98% $9,620
NEW DAY FINANCIAL, LLC 15 7.73% $11,812
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 6.95% $2,533
VILLAGE CAPITAL MORTGAGE 13 5.73% $7,508
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.63% $4,226
First Heritage Mortgage, LLC 12 5.65% $9,693
USAA Federal Savings Bank 11 6.49% $10,291
FBC MORTGAGE, LLC 10 5.32% $4,015
ACOPIA, LLC 9 5.64% $4,887
EAGLE HOME MORTGAGE, LLC 8 6.38% $3,072
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.56% $7,920
NEWREZ LLC 8 6.22% $7,452
Mr. Cooper ( Nationstar Mortgage ) 7 6.43% $9,652
The Loan Store, Inc. 7 5.78% $5,217
HOMESIDE FINANCIAL, LLC 7 6.98% $13,187
Sierra Pacific Mortgage Company, Inc. 7 5.93% $6,049
GUARANTEED RATE, INC. 6 5.85% $3,237
American Mortgage & Equity Consultants, Inc. 6 6.17% $4,154
GUILD MORTGAGE COMPANY 6 6.31% $7,551
SUN WEST MORTGAGE COMPANY, INC. 5 5.90% $8,928
INSPIRE HOME LOANS INC. 5 5.50% $2,836
Flagstar Bank, FSB 5 6.29% $3,339
MUTUAL OF OMAHA MORTGAGE, INC. 4 6.31% $5,715
HOWARD HANNA FINANCIAL SERVICES, INC. 4 6.34% $7,804
CLEARPATH LENDING 4 5.41% $7,613
CMG MORTGAGE, INC. 4 5.94% $12,751
Network Funding, L.P. 3 6.79% $5,769
LAKEVIEW LOAN SERVICING, LLC 3 5.83% $11,537
First Federal Bank 3 5.79% $6,829
NATIONS DIRECT MORTGAGE, LLC 3 6.21% $4,908
PLANET HOME LENDING, LLC 3 5.37% $4,244
Magnolia Bank 3 6.33% $9,797
The Federal Savings Bank 3 7.00% $10,297
South State Bank 3 6.12% $11,390
RELIANCE FIRST CAPITAL, LLC 3 6.38% $12,981
CRESCENT MORTGAGE COMPANY 2 6.13% $7,357
MILEND, INC. 2 6.56% $9,893
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.00% $25,308
DELMAR FINANCIAL COMPANY 2 6.63% $5,504
Presidential Bank, FSB 2 6.00% $2,964
MORTGAGEONE, INC. 2 7.88% $8,296
Barrington Bank & Trust Company, N.A. 2 6.75% $4,723
T2 FINANCIAL LLC 2 6.94% $9,049
SOUTHWEST FUNDING, LP 2 6.94% $13,032
Atlantic Coast Mortgage, LLC 2 6.25% $9,975
Ameris Bank 2 6.69% $3,492
Integrity Home Mortgage Corp 2 5.88% $4,159
AMERISAVE MORTGAGE CORPORATION 2 5.44% $19,369
VERITAS FUNDING, LLC 2 6.50% $17,905
Armed Forces Bank 2 5.75% $3,546
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.44% $7,873
JPMorgan Chase Bank 2 5.93% $4,323
Princeton Mortgage Corporation 2 7.00% $7,413
Waterstone Mortgage Corporation 1 6.75% $12,239
Alcova Mortgage LLC 1 5.50% $2,260
AMERICAN FINANCING CORPORATION 1 5.50% $12,115
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $21,557
BAY EQUITY LLC 1 5.99% $29,623
BROKER SOLUTIONS, INC. 1 5.99% $13,147
CALCON MUTUAL MORTGAGE LLC 1 5.63% $9,772
CAPITAL CENTER, L.L.C. 1 6.25% $9,214
CARDINAL FINANCIAL 1 5.75% $9,499
Century Mortgage Company DBA Century Lending Company 1 6.00% $939
Citizens Bank 1 6.50% $12,254
ENVOY MORTGAGE, LTD 1 6.63% $7,210
Equity Prime Mortgage LLC 1 6.50% $4,135
EVERETT FINANCIAL, INC. 1 7.25% $12,265
First-Citizens Bank & Trust Company 1 5.63% $10,689
FIRST HOME MORTGAGE CORPORATION 1 6.75% $7,557
GSF Mortgage Corporation 1 6.25% $4,404
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $0
INTERLINC MORTGAGE SERVICES, LLC 1 7.25% $14,264
JET HOMELOANS, LLC 1 6.49% $9,965
Lakeview Community Capital, LLC 1 6.25% $3,438
LOANPAL, LLC 1 6.13% $17,342
Mid-Continent Funding, Inc. 1 5.75% $22,516
MORTGAGE ACCESS CORP. 1 5.63% $11,219
Mortgage Assurance Inc. 1 6.25% $10,105
MORTGAGE EQUITY PARTNERS LLC 1 6.25% $3,507
NEW FED MORTGAGE, CORP. 1 5.75% $4,069
Old National Bank 1 5.88% $2,675
ON Q FINANCIAL, INC. 1 5.75% $6,345
Paramount Residential Mortgage Group, Inc. 1 6.13% $5,394
PENTAGON FEDERAL CREDIT UNION 1 6.38% $3,780
PLAZA HOME MORTGAGE, INC. 1 5.99% $14,449
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.88% $8,907
PULTE MORTGAGE LLC 1 4.00% $830
RADIUS FINANCIAL GROUP INC. 1 6.63% $5,157
Renasant Bank 1 6.13% $5,047
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 6.25% $4,014
RESOURCE FINANCIAL SERVICES, INC. 1 6.88% $15,092
ROSS MORTGAGE CORPORATION 1 6.63% $3,539
Southern First Bank 1 6.63% $3,102
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $7,574
The Park National Bank 1 5.75% $4,306
TOWNE MORTGAGE COMPANY 1 5.63% $12,383
UNION HOME MORTGAGE CORP. 1 6.50% $7,446
United Bank 1 6.25% $9,590
Uwharrie Bank 1 5.63% $4,345
Victorian Finance, LLC 1 6.75% $7,328

The top Spartanburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with 136 VA loans originated. Their average total fees are $6,037, which is $1,452 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Spartanburg VA lenders (with over 10 loans originated) are MORTGAGE SOLUTIONS OF COLORADO, LLC ($2,533), FBC MORTGAGE, LLC ($4,015), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($4,226), NAVY FEDERAL CREDIT UNION ($4,530) and NVR Mortgage Finance, Inc. ($4,872).

The lowest rate Spartanburg VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.31%), FBC MORTGAGE, LLC (5.32%), LOANDEPOT.COM, LLC (5.55%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.57%) and First Heritage Mortgage, LLC (5.65%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Spartanburg (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 $208,800 (12.9%) $247,077 (7.5%) 0.77 1,216
2018-02-01 $209,411 (10.3%) $247,955 (5.4%) 0.76 1,182
2018-03-01 $215,990 (13.8%) $257,984 (10.0%) 0.76 1,153
2018-04-01 $221,795 (15.6%) $267,118 (14.0%) 0.75 1,126
2018-05-01 $222,245 (14.6%) $269,101 (14.2%) 0.74 1,207
2018-06-01 $221,804 (11.5%) $269,506 (11.5%) 0.74 1,293
2018-07-01 $219,634 (8.7%) $268,670 (8.9%) 0.73 1,330
2018-08-01 $217,815 (7.4%) $267,300 (9.0%) 0.73 1,377
2018-09-01 $214,775 (4.8%) $264,498 (6.3%) 0.72 1,374
2018-10-01 $209,450 (0.3%) $259,654 (2.1%) 0.71 1,419
2018-11-01 $211,680 (2.5%) $258,919 (3.5%) 0.72 1,361
2018-12-01 $211,772 (2.4%) $253,582 (2.0%) 0.73 1,317
2019-01-01 $214,098 (2.5%) $259,849 (5.2%) 0.74 1,288
2019-02-01 $213,950 (2.2%) $259,293 (4.6%) 0.72 1,337
2019-03-01 $217,698 (0.8%) $304,117 (17.9%) 0.71 1,317
2019-04-01 $220,639 (-0.5%) $313,475 (17.4%) 0.70 1,275
2019-05-01 $223,400 (0.5%) $285,981 (6.3%) 0.70 1,270
2019-06-01 $225,000 (1.4%) $290,298 (7.7%) 0.70 1,287
2019-07-01 $225,000 (2.4%) $289,703 (7.8%) 0.70 1,279
2019-08-01 $224,999 (3.3%) $287,341 (7.5%) 0.71 1,341
2019-09-01 $224,997 (4.8%) $284,441 (7.5%) 0.72 1,387
2019-10-01 $224,948 (7.4%) $282,107 (8.7%) 0.73 1,418
2019-11-01 $224,900 (6.3%) $281,596 (8.8%) 0.74 1,385
2019-12-01 $223,450 (5.5%) $276,081 (8.9%) 0.75 1,390
2020-01-01 $220,472 (3.0%) $262,988 (1.2%) 0.74 1,314
2020-02-01 $224,900 (5.1%) $270,751 (4.4%) 0.74 1,257
2020-03-01 $231,495 (6.3%) $279,094 (-8.2%) 0.73 1,152
2020-04-01 $229,325 (3.9%) $280,256 (-10.6%) 0.72 1,179
2020-05-01 $234,900 (5.2%) $284,273 (-0.6%) 0.71 1,057
2020-06-01 $240,450 (6.9%) $298,349 (2.8%) 0.71 939
2020-07-01 $237,748 (5.7%) $296,266 (2.3%) 0.69 845
2020-08-01 $239,000 (6.2%) $302,883 (5.4%) 0.68 795
2020-09-01 $237,250 (5.5%) $314,345 (10.5%) 0.68 767
2020-10-01 $239,900 (6.7%) $314,197 (11.4%) 0.69 757
2020-11-01 $240,300 (6.9%) $318,753 (13.2%) 0.70 775
2020-12-01 $234,750 (5.1%) $306,631 (11.1%) 0.70 737
2021-01-01 $234,999 (6.6%) $304,255 (15.7%) 0.70 714
2021-02-01 $234,179 (4.1%) $307,656 (13.6%) 0.68 676
2021-03-01 $240,500 (3.9%) $316,043 (13.2%) 0.68 531
2021-04-01 $239,893 (4.6%) $307,524 (9.7%) 0.65 482
2021-05-01 $250,000 (6.4%) $313,276 (10.2%) 0.66 403
2021-06-01 $254,950 (6.0%) $313,390 (5.0%) 0.67 411
2021-07-01 $269,620 (13.4%) $340,402 (14.9%) 0.71 506
2021-08-01 $263,007 (10.0%) $331,641 (9.5%) 0.70 607
2021-09-01 $271,948 (14.6%) $348,378 (10.8%) 0.73 620
2021-10-01 $275,000 (14.6%) $350,160 (11.5%) 0.73 610
2021-11-01 $276,309 (15.0%) $357,403 (12.1%) 0.74 536
2021-12-01 $270,370 (15.2%) $341,106 (11.2%) 0.73 484
2022-01-01 $277,447 (18.1%) $334,706 (10.0%) 0.75 404
2022-02-01 $280,212 (19.7%) $337,374 (9.7%) 0.73 362
2022-03-01 $284,217 (18.2%) $334,939 (6.0%) 0.71 314
2022-04-01 $290,000 (20.9%) $350,601 (14.0%) 0.69 347
2022-05-01 $298,433 (19.4%) $341,456 (9.0%) 0.68 515
2022-06-01 $301,999 (18.5%) $340,648 (8.7%) 0.67 641
2022-07-01 $304,900 (13.1%) $342,567 (0.6%) 0.69 884
2022-08-01 $303,420 (15.4%) $344,395 (3.9%) 0.70 1,059
2022-09-01 $305,265 (12.3%) $346,617 (-0.5%) 0.71 1,135
2022-10-01 $302,900 (10.2%) $349,667 (-0.1%) 0.71 1,160
2022-11-01 $300,120 (8.6%) $346,757 (-3.0%) 0.72 1,169
2022-12-01 $299,900 (10.9%) $349,601 (2.5%) 0.74 1,064
2023-01-01 $301,683 (8.7%) $353,499 (5.6%) 0.75 1,000
2023-02-01 $299,942 (7.0%) $350,600 (3.9%) 0.72 956
2023-03-01 $303,445 (6.8%) $355,975 (6.3%) 0.72 935
2023-04-01 $311,999 (7.6%) $371,300 (5.9%) 0.73 965
2023-05-01 $316,560 (6.1%) $375,127 (9.9%) 0.72 925
2023-06-01 $312,400 (3.4%) $367,926 (8.0%) 0.70 961
2023-07-01 $311,389 (2.1%) $372,514 (8.7%) 0.71 1,005
2023-08-01 $309,495 (2.0%) $370,465 (7.6%) 0.71 1,043
2023-09-01 $305,900 (0.2%) $372,158 (7.4%) 0.71 1,010
2023-10-01 $307,854 (1.6%) $370,063 (5.8%) 0.72 1,070
2023-11-01 $302,225 (0.7%) $364,735 (5.2%) 0.72 1,122
2023-12-01 $306,000 (2.0%) $363,171 (3.9%) 0.75 1,163
2024-01-01 $307,999 (2.1%) $363,073 (2.7%) 0.75 1,137
2024-02-01 $309,198 (3.1%) $368,207 (5.0%) 0.74 1,144
2024-03-01 $308,000 (1.5%) $362,886 (1.9%) 0.72 1,243
2024-04-01 $307,493 (-1.4%) $367,464 (-1.0%) 0.72 1,317
2024-05-01 $304,948 (-3.7%) $367,021 (-2.2%) 0.69 1,432
2024-06-01 $304,977 (-2.4%) $382,366 (3.9%) 0.69 1,462
2024-07-01 $302,748 (-2.8%) $374,821 (0.6%) 0.69 1,544
2024-08-01 $304,000 (-1.8%) $372,989 (0.7%) 0.71 1,563
2024-09-01 $304,950 (-0.3%) $373,664 (0.4%) 0.72 1,538
2024-10-01 $300,690 (-2.3%) $371,615 (0.4%) 0.71 1,498
2024-11-01 $303,990 (0.6%) $370,665 (1.6%) 0.73 1,470
2024-12-01 $304,145 (-0.6%) $369,762 (1.8%) 0.76 1,388
2025-01-01 $301,995 (-2.0%) $365,428 (0.7%) 0.75 1,360
2025-02-01 $305,000 (-1.4%) $363,849 (-1.2%) 0.74 1,407
2025-03-01 $307,900 (0.0%) $364,169 (0.4%) 0.00 1,549
Spartanburg's median listing price for 2025-03-01 was $307,900, a difference of $-100 (0.0%) versus the prior year and $2,900 versus the prior month.

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

Spartanburg's average listing price for 2025-03-01 was $364,169, a difference of $1,283 (0.4%) versus the prior year and $320 versus the prior month.

For the 2025-03-01 period, Spartanburg had 1,549 MLS listings, a difference of 142 listings (10%) versus the prior month and 306 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Spartanburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 2,042 sqft
2018-02-01 83 days 2,028 sqft
2018-03-01 50 days 2,114 sqft
2018-04-01 50 days 2,143 sqft
2018-05-01 53 days 2,151 sqft
2018-06-01 53 days 2,150 sqft
2018-07-01 57 days 2,120 sqft
2018-08-01 56 days 2,100 sqft
2018-09-01 64 days 2,065 sqft
2018-10-01 66 days 2,005 sqft
2018-11-01 66 days 2,015 sqft
2018-12-01 72 days 2,000 sqft
2019-01-01 80 days 2,000 sqft
2019-02-01 72 days 2,003 sqft
2019-03-01 64 days 2,012 sqft
2019-04-01 61 days 2,036 sqft
2019-05-01 60 days 2,070 sqft
2019-06-01 58 days 2,095 sqft
2019-07-01 58 days 2,074 sqft
2019-08-01 57 days 2,085 sqft
2019-09-01 58 days 2,081 sqft
2019-10-01 58 days 2,070 sqft
2019-11-01 60 days 2,051 sqft
2019-12-01 66 days 2,023 sqft
2020-01-01 72 days 1,995 sqft
2020-02-01 73 days 2,003 sqft
2020-03-01 59 days 2,059 sqft
2020-04-01 62 days 2,007 sqft
2020-05-01 71 days 2,010 sqft
2020-06-01 67 days 2,063 sqft
2020-07-01 55 days 2,069 sqft
2020-08-01 47 days 2,100 sqft
2020-09-01 46 days 2,075 sqft
2020-10-01 49 days 2,040 sqft
2020-11-01 46 days 1,987 sqft
2020-12-01 49 days 1,910 sqft
2021-01-01 51 days 1,883 sqft
2021-02-01 50 days 1,818 sqft
2021-03-01 42 days 1,806 sqft
2021-04-01 44 days 1,800 sqft
2021-05-01 43 days 1,808 sqft
2021-06-01 39 days 1,881 sqft
2021-07-01 33 days 1,900 sqft
2021-08-01 38 days 1,832 sqft
2021-09-01 42 days 1,831 sqft
2021-10-01 47 days 1,856 sqft
2021-11-01 39 days 1,822 sqft
2021-12-01 43 days 1,776 sqft
2022-01-01 53 days 1,871 sqft
2022-02-01 35 days 1,839 sqft
2022-03-01 34 days 1,800 sqft
2022-04-01 32 days 1,820 sqft
2022-05-01 25 days 1,840 sqft
2022-06-01 30 days 1,854 sqft
2022-07-01 31 days 1,871 sqft
2022-08-01 39 days 1,893 sqft
2022-09-01 44 days 1,926 sqft
2022-10-01 51 days 1,924 sqft
2022-11-01 59 days 1,918 sqft
2022-12-01 66 days 1,924 sqft
2023-01-01 71 days 1,944 sqft
2023-02-01 63 days 1,919 sqft
2023-03-01 45 days 1,948 sqft
2023-04-01 42 days 1,972 sqft
2023-05-01 50 days 2,012 sqft
2023-06-01 51 days 2,001 sqft
2023-07-01 49 days 2,000 sqft
2023-08-01 48 days 1,951 sqft
2023-09-01 47 days 1,957 sqft
2023-10-01 51 days 1,973 sqft
2023-11-01 50 days 1,958 sqft
2023-12-01 55 days 1,970 sqft
2024-01-01 64 days 1,937 sqft
2024-02-01 49 days 1,918 sqft
2024-03-01 48 days 1,985 sqft
2024-04-01 44 days 1,960 sqft
2024-05-01 42 days 1,992 sqft
2024-06-01 49 days 1,991 sqft
2024-07-01 51 days 1,972 sqft
2024-08-01 53 days 1,935 sqft
2024-09-01 56 days 1,940 sqft
2024-10-01 61 days 1,903 sqft
2024-11-01 65 days 1,900 sqft
2024-12-01 65 days 1,885 sqft
2025-01-01 70 days 1,833 sqft
2025-02-01 55 days 1,824 sqft
2025-03-01 0 days 1,861 sqft
Spartanburg's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Spartanburg's median square footage for active listings during the 2025-03-01 period was 1,861 sqft. One year prior, the average listing was 1,985 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.