Summerville VA Loan Rates, Closing Costs & Stats

Summerville, GA

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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.

    Summerville's 13 lenders originated 20 VA loans during 2023. The total origination value was $5,200,000, with an average VA loan value of $260,000.

    Summerville VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Summerville averaged 6.32% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Summerville's average VA mortgage closing costs are $5,542.

    The average rate for the prior week (2024-12-06) was 6.26% and one month ago for the week of 2024-11-08, the average rate was 6.45%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Summerville 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 Summerville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 5 7.15% $4,163
    LEADERONE FINANCIAL CORPORATION 3 6.33% $9,323
    BANKSOUTH MORTGAGE COMPANY, LLC 2 6.38% $6,749
    NAVY FEDERAL CREDIT UNION 1 4.75% $5,005
    NEW DAY FINANCIAL, LLC 1 7.50% $13,509
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $20,653
    QUICKEN LOANS, LLC 1 6.49% $12,373
    SUMMIT FUNDING, INC. 1 7.13% $1,799
    SWBC MORTGAGE CORPORATION 1 6.25% $1,557
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $26,354
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.75% $3,706
    BROKER SOLUTIONS, INC. 1 5.49% $7,417
    MOVEMENT MORTGAGE, LLC 1 7.75% $8,909

    The top Summerville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 5 VA loans originated. Their average total fees are $4,163, which is $5,160 lower than the next largest lender, LEADERONE FINANCIAL CORPORATION.

    The lowest fee Summerville VA lenders (with over 10 loans originated) are .

    The lowest rate Summerville VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Summerville (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 $99,900 (7.5%) $185,777 (-3.2%) 0.00 57
    2018-02-01 $106,000 (14.1%) $185,345 (-4.9%) 0.00 62
    2018-03-01 $100,000 (5.9%) $170,160 (-8.5%) 0.00 65
    2018-04-01 $97,500 (-2.5%) $159,013 (-15.4%) 0.00 73
    2018-05-01 $99,450 (4.7%) $149,054 (-16.1%) 0.00 71
    2018-06-01 $129,900 (38.3%) $172,947 (-1.4%) 0.00 70
    2018-07-01 $128,225 (29.6%) $173,000 (2.3%) 0.00 77
    2018-08-01 $128,325 (38.1%) $181,549 (9.1%) 0.00 74
    2018-09-01 $128,700 (22.7%) $195,487 (2.4%) 0.00 63
    2018-10-01 $117,425 (-7.9%) $176,939 (-10.9%) 0.00 69
    2018-11-01 $128,175 (0.4%) $206,288 (2.3%) 0.00 70
    2018-12-01 $130,000 (4.1%) $240,489 (22.8%) 0.00 65
    2019-01-01 $146,250 (46.4%) $238,597 (28.4%) 0.00 60
    2019-02-01 $149,475 (41.0%) $246,212 (32.8%) 0.00 61
    2019-03-01 $150,814 (50.8%) $241,801 (42.1%) 0.00 61
    2019-04-01 $142,789 (46.5%) $229,136 (44.1%) 0.00 62
    2019-05-01 $147,250 (48.1%) $229,731 (54.1%) 0.00 68
    2019-06-01 $136,450 (5.0%) $230,071 (33.0%) 0.00 68
    2019-07-01 $134,450 (4.9%) $227,598 (31.6%) 0.00 74
    2019-08-01 $131,527 (2.5%) $230,449 (26.9%) 0.00 73
    2019-09-01 $130,106 (1.1%) $240,376 (23.0%) 0.00 74
    2019-10-01 $129,383 (10.2%) $251,246 (42.0%) 0.00 73
    2019-11-01 $125,000 (-2.5%) $231,604 (12.3%) 0.00 70
    2019-12-01 $122,200 (-6.0%) $200,100 (-16.8%) 0.00 68
    2020-01-01 $120,575 (-17.6%) $198,959 (-16.6%) 0.00 64
    2020-02-01 $120,000 (-19.7%) $216,120 (-12.2%) 0.00 65
    2020-03-01 $121,200 (-19.6%) $203,580 (-15.8%) 0.00 65
    2020-04-01 $123,500 (-13.5%) $188,425 (-17.8%) 0.00 67
    2020-05-01 $125,000 (-15.1%) $210,048 (-8.6%) 0.00 51
    2020-06-01 $161,150 (18.1%) $229,354 (-0.3%) 0.00 45
    2020-07-01 $167,225 (24.4%) $231,035 (1.5%) 0.00 38
    2020-08-01 $169,500 (28.9%) $193,303 (-16.1%) 0.00 35
    2020-09-01 $165,925 (27.5%) $186,691 (-22.3%) 0.00 25
    2020-10-01 $124,900 (-3.5%) $194,683 (-22.5%) 0.00 23
    2020-11-01 $124,925 (-0.1%) $164,090 (-29.2%) 0.00 22
    2020-12-01 $122,450 (0.2%) $163,045 (-18.5%) 0.00 19
    2021-01-01 $114,900 (-4.7%) $140,782 (-29.2%) 0.00 17
    2021-02-01 $124,425 (3.7%) $139,852 (-35.3%) 0.00 15
    2021-03-01 $132,500 (9.3%) $179,215 (-12.0%) 0.00 21
    2021-04-01 $166,625 (34.9%) $201,209 (6.8%) 0.00 19
    2021-05-01 $146,900 (17.5%) $176,995 (-15.7%) 0.00 18
    2021-06-01 $146,900 (-8.8%) $179,234 (-21.9%) 0.00 21
    2021-07-01 $179,900 (7.6%) $211,857 (-8.3%) 0.00 23
    2021-08-01 $201,725 (19.0%) $248,301 (28.5%) 0.00 25
    2021-09-01 $187,700 (13.1%) $266,144 (42.6%) 0.00 28
    2021-10-01 $249,900 (100.1%) $311,997 (60.3%) 0.00 33
    2021-11-01 $261,250 (109.1%) $368,258 (124.4%) 0.00 30
    2021-12-01 $268,124 (119.0%) $384,268 (135.7%) 0.00 36
    2022-01-01 $235,000 (104.5%) $358,866 (154.9%) 0.00 34
    2022-02-01 $208,675 (67.7%) $387,637 (177.2%) 0.00 33
    2022-03-01 $187,000 (41.1%) $357,846 (99.7%) 0.00 37
    2022-04-01 $235,000 (41.0%) $322,692 (60.4%) 0.00 37
    2022-05-01 $226,000 (53.9%) $339,756 (92.0%) 0.00 35
    2022-06-01 $249,225 (69.7%) $349,398 (94.9%) 0.00 37
    2022-07-01 $249,450 (38.7%) $362,153 (70.9%) 0.00 36
    2022-08-01 $279,725 (38.7%) $428,252 (72.5%) 0.00 34
    2022-09-01 $249,000 (32.7%) $356,700 (34.0%) 0.00 34
    2022-10-01 $229,950 (-8.0%) $352,285 (12.9%) 0.00 33
    2022-11-01 $224,675 (-14.0%) $326,681 (-11.3%) 0.00 38
    2022-12-01 $234,500 (-12.5%) $349,265 (-9.1%) 0.00 40
    2023-01-01 $226,175 (-3.8%) $330,905 (-7.8%) 0.00 42
    2023-02-01 $250,000 (19.8%) $362,790 (-6.4%) 0.00 38
    2023-03-01 $249,900 (33.6%) $385,035 (7.6%) 0.00 38
    2023-04-01 $232,400 (-1.1%) $326,150 (1.1%) 0.00 45
    2023-05-01 $205,950 (-8.9%) $312,183 (-8.1%) 0.00 52
    2023-06-01 $228,450 (-8.3%) $352,641 (0.9%) 0.00 60
    2023-07-01 $249,000 (-0.2%) $353,120 (-2.5%) 0.00 54
    2023-08-01 $268,425 (-4.0%) $366,668 (-14.4%) 0.00 48
    2023-09-01 $299,000 (20.1%) $436,281 (22.3%) 0.00 42
    2023-10-01 $269,000 (17.0%) $406,708 (15.5%) 0.00 43
    2023-11-01 $247,175 (10.0%) $396,110 (21.3%) 0.00 50
    2023-12-01 $225,000 (-4.1%) $367,772 (5.3%) 0.00 51
    2024-01-01 $260,850 (15.3%) $421,195 (27.3%) 0.00 49
    2024-02-01 $293,450 (17.4%) $435,101 (19.9%) 0.00 51
    2024-03-01 $264,900 (6.0%) $408,867 (6.2%) 0.00 53
    2024-04-01 $214,500 (-7.7%) $377,547 (15.8%) 0.00 46
    2024-05-01 $203,725 (-1.1%) $387,995 (24.3%) 0.00 44
    2024-06-01 $210,000 (-8.1%) $397,864 (12.8%) 0.00 57
    2024-07-01 $193,249 (-22.4%) $370,330 (4.9%) 0.00 72
    2024-08-01 $195,000 (-27.4%) $345,521 (-5.8%) 0.00 72
    2024-09-01 $194,100 (-35.1%) $320,852 (-26.5%) 0.00 72
    2024-10-01 $211,175 (-21.5%) $310,135 (-23.8%) 0.00 70
    2024-11-01 $209,900 (-15.1%) $307,284 (-22.4%) 0.00 68
    Summerville's median listing price for 2024-11-01 was $209,900, a difference of $-37,275 (-15.1%) versus the prior year and $-1,275 versus the prior month.

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

    Summerville's average listing price for 2024-11-01 was $307,284, a difference of $-88,826 (-22.4%) versus the prior year and $-2,851 versus the prior month.

    For the 2024-11-01 period, Summerville had 68 MLS listings, a difference of -2 listings (-3%) versus the prior month and 18 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Summerville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,548 sqft
    2018-02-01 0 days 1,605 sqft
    2018-03-01 0 days 1,726 sqft
    2018-04-01 0 days 1,671 sqft
    2018-05-01 0 days 1,616 sqft
    2018-06-01 0 days 1,595 sqft
    2018-07-01 0 days 1,512 sqft
    2018-08-01 0 days 1,586 sqft
    2018-09-01 0 days 1,608 sqft
    2018-10-01 0 days 1,562 sqft
    2018-11-01 0 days 1,610 sqft
    2018-12-01 0 days 1,684 sqft
    2019-01-01 0 days 1,780 sqft
    2019-02-01 0 days 1,626 sqft
    2019-03-01 0 days 1,631 sqft
    2019-04-01 0 days 1,641 sqft
    2019-05-01 0 days 1,788 sqft
    2019-06-01 0 days 1,824 sqft
    2019-07-01 0 days 1,809 sqft
    2019-08-01 0 days 1,762 sqft
    2019-09-01 0 days 1,679 sqft
    2019-10-01 0 days 1,527 sqft
    2019-11-01 0 days 1,371 sqft
    2019-12-01 0 days 1,372 sqft
    2020-01-01 0 days 1,458 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,396 sqft
    2020-04-01 0 days 1,378 sqft
    2020-05-01 0 days 1,588 sqft
    2020-06-01 0 days 1,708 sqft
    2020-07-01 0 days 1,663 sqft
    2020-08-01 0 days 1,675 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,514 sqft
    2020-11-01 0 days 1,262 sqft
    2020-12-01 0 days 1,341 sqft
    2021-01-01 0 days 1,299 sqft
    2021-02-01 0 days 1,502 sqft
    2021-03-01 0 days 1,538 sqft
    2021-04-01 0 days 1,874 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,593 sqft
    2021-07-01 0 days 1,698 sqft
    2021-08-01 0 days 1,826 sqft
    2021-09-01 0 days 1,903 sqft
    2021-10-01 0 days 2,119 sqft
    2021-11-01 0 days 2,326 sqft
    2021-12-01 0 days 2,349 sqft
    2022-01-01 0 days 1,979 sqft
    2022-02-01 0 days 1,638 sqft
    2022-03-01 0 days 1,625 sqft
    2022-04-01 0 days 1,710 sqft
    2022-05-01 0 days 1,599 sqft
    2022-06-01 0 days 1,713 sqft
    2022-07-01 0 days 2,095 sqft
    2022-08-01 0 days 2,267 sqft
    2022-09-01 0 days 1,924 sqft
    2022-10-01 0 days 1,884 sqft
    2022-11-01 0 days 1,870 sqft
    2022-12-01 0 days 1,828 sqft
    2023-01-01 0 days 1,757 sqft
    2023-02-01 0 days 1,804 sqft
    2023-03-01 0 days 1,753 sqft
    2023-04-01 0 days 1,568 sqft
    2023-05-01 0 days 1,563 sqft
    2023-06-01 0 days 1,608 sqft
    2023-07-01 0 days 1,545 sqft
    2023-08-01 0 days 1,570 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,891 sqft
    2023-11-01 0 days 1,565 sqft
    2023-12-01 0 days 1,515 sqft
    2024-01-01 0 days 1,820 sqft
    2024-02-01 0 days 1,937 sqft
    2024-03-01 0 days 1,878 sqft
    2024-04-01 0 days 1,591 sqft
    2024-05-01 0 days 1,600 sqft
    2024-06-01 0 days 1,800 sqft
    2024-07-01 0 days 1,633 sqft
    2024-08-01 0 days 1,600 sqft
    2024-09-01 0 days 1,576 sqft
    2024-10-01 0 days 1,600 sqft
    2024-11-01 0 days 1,531 sqft
    Summerville's median listing age (time on market) for 2024-11-01 was 0 days.

    Summerville's median square footage for active listings during the 2024-11-01 period was 1,531 sqft. One year prior, the average listing was 1,565 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.