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 124 lenders originated 866 VA loans during 2022. The total origination value was $242,030,000, with an average VA loan value of $279,480.
Spartanburg VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Spartanburg
averaged
6.57%
for the week of 2023-09-22, compared to the national average (all VA variants) of
6.823% for the same period.
Spartanburg's average VA mortgage closing costs are $5,456.
The average rate for the prior week (2023-09-15) was
6.45% and
one month ago for the week of 2023-08-18, the
average rate was 6.54%.
The average rate one year ago was 5.5%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.39%.
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.
The top Spartanburg VA lender as defined by loan originations is Mortgage Research Center, LLC, with
116 VA loans originated. Their average total fees are
$7,452, which is $2,373
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Spartanburg VA lenders (with over 10 loans originated) are
NVR Mortgage Finance, Inc. ($4,732), MORTGAGE SOLUTIONS OF COLORADO, LLC ($5,374), MOVEMENT MORTGAGE, LLC ($5,585), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,966) and NAVY FEDERAL CREDIT UNION ($6,702).
The lowest rate Spartanburg VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.75%), NAVY FEDERAL CREDIT UNION (3.96%), QUICKEN LOANS, LLC (4.03%), NVR Mortgage Finance, Inc. (4.17%) and DHI MORTGAGE COMPANY, LTD. (4.18%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Spartanburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $209,975 (10.6%) | $250,070 (6.4%) | 0.78 | 1,174 |
2018-02-01 | $212,790 (9.9%) | $251,586 (4.9%) | 0.77 | 1,136 |
2018-03-01 | $218,102 (12.9%) | $261,951 (9.5%) | 0.77 | 1,104 |
2018-04-01 | $224,079 (15.0%) | $271,776 (13.8%) | 0.76 | 1,084 |
2018-05-01 | $224,222 (13.5%) | $272,319 (13.6%) | 0.75 | 1,168 |
2018-06-01 | $222,497 (9.9%) | $271,003 (10.7%) | 0.74 | 1,258 |
2018-07-01 | $219,900 (7.3%) | $269,879 (8.5%) | 0.73 | 1,292 |
2018-08-01 | $219,000 (6.9%) | $268,287 (8.8%) | 0.73 | 1,338 |
2018-09-01 | $215,082 (3.6%) | $265,418 (5.8%) | 0.72 | 1,335 |
2018-10-01 | $211,769 (0.9%) | $261,482 (2.2%) | 0.72 | 1,377 |
2018-11-01 | $213,830 (2.4%) | $260,626 (3.3%) | 0.72 | 1,313 |
2018-12-01 | $214,900 (2.6%) | $256,158 (2.2%) | 0.74 | 1,262 |
2019-01-01 | $216,285 (3.0%) | $261,890 (4.7%) | 0.75 | 1,243 |
2019-02-01 | $215,082 (1.1%) | $261,283 (3.9%) | 0.73 | 1,298 |
2019-03-01 | $219,372 (0.6%) | $306,821 (17.1%) | 0.72 | 1,283 |
2019-04-01 | $221,482 (-1.2%) | $316,317 (16.4%) | 0.70 | 1,244 |
2019-05-01 | $224,216 (0.0%) | $288,265 (5.9%) | 0.70 | 1,238 |
2019-06-01 | $225,995 (1.6%) | $294,040 (8.5%) | 0.71 | 1,244 |
2019-07-01 | $228,950 (4.1%) | $294,183 (9.0%) | 0.72 | 1,238 |
2019-08-01 | $228,436 (4.3%) | $291,382 (8.6%) | 0.72 | 1,298 |
2019-09-01 | $227,741 (5.9%) | $288,234 (8.6%) | 0.73 | 1,343 |
2019-10-01 | $226,102 (6.8%) | $285,768 (9.3%) | 0.73 | 1,372 |
2019-11-01 | $225,000 (5.2%) | $284,433 (9.1%) | 0.74 | 1,345 |
2019-12-01 | $224,900 (4.7%) | $278,972 (8.9%) | 0.75 | 1,358 |
2020-01-01 | $222,825 (3.0%) | $266,386 (1.7%) | 0.74 | 1,281 |
2020-02-01 | $225,000 (4.6%) | $274,028 (4.9%) | 0.74 | 1,224 |
2020-03-01 | $234,419 (6.9%) | $282,836 (-7.8%) | 0.73 | 1,117 |
2020-04-01 | $229,925 (3.8%) | $283,643 (-10.3%) | 0.72 | 1,152 |
2020-05-01 | $235,000 (4.8%) | $287,495 (-0.3%) | 0.71 | 1,032 |
2020-06-01 | $244,348 (8.1%) | $301,887 (2.7%) | 0.72 | 918 |
2020-07-01 | $239,323 (4.5%) | $298,872 (1.6%) | 0.69 | 829 |
2020-08-01 | $239,995 (5.1%) | $307,133 (5.4%) | 0.69 | 773 |
2020-09-01 | $238,486 (4.7%) | $318,266 (10.4%) | 0.68 | 743 |
2020-10-01 | $240,990 (6.6%) | $319,099 (11.7%) | 0.69 | 735 |
2020-11-01 | $240,906 (7.1%) | $320,391 (12.6%) | 0.70 | 757 |
2020-12-01 | $235,245 (4.6%) | $308,698 (10.7%) | 0.70 | 719 |
2021-01-01 | $235,000 (5.5%) | $306,513 (15.1%) | 0.70 | 699 |
2021-02-01 | $234,234 (4.1%) | $309,505 (13.0%) | 0.68 | 664 |
2021-03-01 | $240,800 (2.7%) | $318,519 (12.6%) | 0.68 | 515 |
2021-04-01 | $240,396 (4.6%) | $311,184 (9.7%) | 0.65 | 466 |
2021-05-01 | $252,490 (7.4%) | $317,102 (10.3%) | 0.67 | 392 |
2021-06-01 | $255,183 (4.4%) | $316,421 (4.8%) | 0.67 | 401 |
2021-07-01 | $271,275 (13.4%) | $343,678 (15.0%) | 0.72 | 493 |
2021-08-01 | $265,709 (10.7%) | $335,983 (9.4%) | 0.71 | 586 |
2021-09-01 | $273,055 (14.5%) | $351,745 (10.5%) | 0.73 | 596 |
2021-10-01 | $277,219 (15.0%) | $354,606 (11.1%) | 0.74 | 585 |
2021-11-01 | $278,152 (15.5%) | $362,260 (13.1%) | 0.74 | 516 |
2021-12-01 | $273,650 (16.3%) | $345,581 (12.0%) | 0.74 | 460 |
2022-01-01 | $279,209 (18.8%) | $343,697 (12.1%) | 0.75 | 381 |
2022-02-01 | $285,495 (21.9%) | $345,453 (11.6%) | 0.74 | 340 |
2022-03-01 | $288,373 (19.8%) | $342,654 (7.6%) | 0.72 | 297 |
2022-04-01 | $291,990 (21.5%) | $356,725 (14.6%) | 0.70 | 334 |
2022-05-01 | $299,950 (18.8%) | $348,880 (10.0%) | 0.69 | 490 |
2022-06-01 | $304,005 (19.1%) | $346,612 (9.5%) | 0.68 | 603 |
2022-07-01 | $305,310 (12.6%) | $346,962 (1.0%) | 0.69 | 844 |
2022-08-01 | $304,950 (14.8%) | $350,994 (4.5%) | 0.71 | 999 |
2022-09-01 | $306,973 (12.4%) | $352,186 (0.1%) | 0.72 | 1,085 |
2022-10-01 | $304,975 (10.0%) | $355,323 (0.2%) | 0.72 | 1,108 |
2022-11-01 | $304,120 (9.3%) | $352,255 (-2.8%) | 0.73 | 1,124 |
2022-12-01 | $301,499 (10.2%) | $354,259 (2.5%) | 0.74 | 1,015 |
2023-01-01 | $303,490 (8.7%) | $359,128 (4.5%) | 0.75 | 950 |
2023-02-01 | $302,068 (5.8%) | $356,792 (3.3%) | 0.73 | 914 |
2023-03-01 | $305,000 (5.8%) | $361,165 (5.4%) | 0.72 | 899 |
2023-04-01 | $314,945 (7.9%) | $376,169 (5.5%) | 0.73 | 937 |
2023-05-01 | $319,663 (6.6%) | $380,954 (9.2%) | 0.72 | 903 |
2023-06-01 | $313,740 (3.2%) | $371,467 (7.2%) | 0.71 | 946 |
2023-07-01 | $314,900 (3.1%) | $375,888 (8.3%) | 0.72 | 982 |
2023-08-01 | $311,686 (2.2%) | $373,965 (6.5%) | 0.72 | 1,016 |
Spartanburg's median listing price comes in at 72% of the national average.
Spartanburg's average listing price for 2023-08-01 was $373,965, a difference of $22,971 (6.5%) versus the prior year and $-1,923 versus the prior month.
For the 2023-08-01 period, Spartanburg had 1,016 MLS listings, a difference of 34 listings (3%) versus the prior month and 17 listings (2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Spartanburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 88 days | 2,055 sqft |
2018-02-01 | 83 days | 2,053 sqft |
2018-03-01 | 50 days | 2,129 sqft |
2018-04-01 | 49 days | 2,162 sqft |
2018-05-01 | 52 days | 2,162 sqft |
2018-06-01 | 52 days | 2,162 sqft |
2018-07-01 | 57 days | 2,141 sqft |
2018-08-01 | 56 days | 2,113 sqft |
2018-09-01 | 64 days | 2,076 sqft |
2018-10-01 | 66 days | 2,013 sqft |
2018-11-01 | 66 days | 2,017 sqft |
2018-12-01 | 72 days | 2,000 sqft |
2019-01-01 | 80 days | 2,000 sqft |
2019-02-01 | 71 days | 2,019 sqft |
2019-03-01 | 64 days | 2,032 sqft |
2019-04-01 | 61 days | 2,044 sqft |
2019-05-01 | 61 days | 2,085 sqft |
2019-06-01 | 58 days | 2,107 sqft |
2019-07-01 | 58 days | 2,096 sqft |
2019-08-01 | 57 days | 2,100 sqft |
2019-09-01 | 58 days | 2,093 sqft |
2019-10-01 | 58 days | 2,082 sqft |
2019-11-01 | 59 days | 2,076 sqft |
2019-12-01 | 66 days | 2,059 sqft |
2020-01-01 | 72 days | 2,009 sqft |
2020-02-01 | 72 days | 2,009 sqft |
2020-03-01 | 58 days | 2,090 sqft |
2020-04-01 | 62 days | 2,017 sqft |
2020-05-01 | 70 days | 2,049 sqft |
2020-06-01 | 67 days | 2,103 sqft |
2020-07-01 | 54 days | 2,100 sqft |
2020-08-01 | 46 days | 2,078 sqft |
2020-09-01 | 46 days | 2,073 sqft |
2020-10-01 | 49 days | 2,010 sqft |
2020-11-01 | 46 days | 1,962 sqft |
2020-12-01 | 49 days | 1,893 sqft |
2021-01-01 | 50 days | 1,847 sqft |
2021-02-01 | 50 days | 1,805 sqft |
2021-03-01 | 42 days | 1,797 sqft |
2021-04-01 | 44 days | 1,800 sqft |
2021-05-01 | 43 days | 1,800 sqft |
2021-06-01 | 38 days | 1,876 sqft |
2021-07-01 | 33 days | 1,892 sqft |
2021-08-01 | 38 days | 1,850 sqft |
2021-09-01 | 42 days | 1,843 sqft |
2021-10-01 | 45 days | 1,859 sqft |
2021-11-01 | 39 days | 1,831 sqft |
2021-12-01 | 44 days | 1,801 sqft |
2022-01-01 | 53 days | 1,856 sqft |
2022-02-01 | 34 days | 1,860 sqft |
2022-03-01 | 34 days | 1,816 sqft |
2022-04-01 | 32 days | 1,829 sqft |
2022-05-01 | 25 days | 1,865 sqft |
2022-06-01 | 31 days | 1,894 sqft |
2022-07-01 | 31 days | 1,900 sqft |
2022-08-01 | 38 days | 1,900 sqft |
2022-09-01 | 43 days | 1,969 sqft |
2022-10-01 | 51 days | 1,955 sqft |
2022-11-01 | 59 days | 1,925 sqft |
2022-12-01 | 66 days | 1,925 sqft |
2023-01-01 | 71 days | 1,947 sqft |
2023-02-01 | 63 days | 1,937 sqft |
2023-03-01 | 44 days | 1,953 sqft |
2023-04-01 | 41 days | 1,963 sqft |
2023-05-01 | 49 days | 2,002 sqft |
2023-06-01 | 51 days | 2,000 sqft |
2023-07-01 | 49 days | 1,984 sqft |
2023-08-01 | 48 days | 1,946 sqft |
Spartanburg's median square footage for active listings during the 2023-08-01 period was 1,946 sqft. One year prior, the average listing was 1,900 sqft.