Albany VA Loan Rates, Closing Costs & Stats

ALBANY-SCHENECTADY-TROY, NY

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Albany's 51 lenders originated 427 VA loans during 2023. The total origination value was $132,075,000, with an average VA loan value of $309,309.

    Albany VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albany averaged 6.29% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Albany's average VA mortgage closing costs are $6,776.

    The average rate for the prior week (2025-02-07) was 6.12% and one month ago for the week of 2025-01-10, the average rate was 6.36%.

    The average rate one year ago was 5.98%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.35%.

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

    Albany 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 Albany level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 58 6.33% $11,506
    Mortgage Research Center, LLC 57 6.65% $8,719
    NAVY FEDERAL CREDIT UNION 48 5.97% $8,477
    UNITED WHOLESALE MORTGAGE, LLC 46 6.23% $9,558
    HOMESTEAD FUNDING CORP. 44 6.47% $8,060
    USAA Federal Savings Bank 17 6.32% $13,570
    SEFCU SERVICES, LLC 17 6.31% $8,839
    MOVEMENT MORTGAGE, LLC 14 6.44% $11,969
    NEWREZ LLC 8 6.63% $9,369
    PLAZA HOME MORTGAGE, INC. 8 6.38% $9,833
    Premium Mortgage Corporation 8 6.55% $7,749
    Barrington Bank & Trust Company, N.A. 7 6.61% $9,853
    Mr. Cooper ( Nationstar Mortgage ) 6 6.04% $15,945
    FREEDOM MORTGAGE CORPORATION 5 6.45% $18,824
    SUNMARK FEDERAL CREDIT UNION 4 6.63% $5,028
    1ST PRIORITY MORTGAGE, INC. 4 6.34% $9,259
    NBKC BANK 4 6.38% $6,906
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.19% $10,424
    EMM LOANS LLC 4 7.13% $7,105
    RELIANCE FIRST CAPITAL, LLC 3 6.67% $9,005
    GUARANTEED RATE, INC. 3 6.04% $14,620
    KeyBank 3 6.63% $7,027
    PENNYMAC LOAN SERVICES, LLC 3 6.13% $15,275
    Evolve Bank & Trust 3 6.54% $14,495
    Flagstar Bank, FSB 3 7.25% $7,848
    PHH Mortgage Corporation 2 6.50% $11,241
    Wells Fargo Bank 2 5.63% $12,936
    PLANET HOME LENDING, LLC 2 6.81% $10,032
    Magnolia Bank 2 6.62% $18,912
    LOANDEPOT.COM, LLC 2 6.25% $12,227
    PENTAGON FEDERAL CREDIT UNION 2 5.81% $8,866
    The Federal Savings Bank 1 7.13% $12,621
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.13% $1,885
    Adams Community Bank 1 6.13% $10,212
    AMERICAN FINANCING CORPORATION 1 5.50% $7,793
    CARDINAL FINANCIAL 1 6.50% $21,754
    Chambers Bank 1 7.13% $9,535
    Community First National Bank 1 6.25% $12,729
    CONTOUR MORTGAGE CORPORATION 1 5.63% $10,419
    CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $1,287
    EMBRACE HOME LOANS, INC. 1 5.63% $7,051
    Equity Prime Mortgage LLC 1 7.75% $19,447
    JPMorgan Chase Bank 1 6.63% $10,565
    MORTGAGE ACCESS CORP. 1 7.13% $15,199
    M&T Bank 1 6.25% $9,310
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $25,302
    North American Savings Bank, F.S.B. 1 6.13% $9,927
    PREMIA MORTGAGE, LLC 1 5.75% $15,660
    Truist 1 6.50% $5,144
    U.S. Bank 1 6.50% $1,178
    US MORTGAGE CORPORATION 1 6.88% $11,169

    The top Albany VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 58 VA loans originated. Their average total fees are $11,506, which is $2,788 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Albany VA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. ($8,060), NAVY FEDERAL CREDIT UNION ($8,477), Mortgage Research Center, LLC ($8,719), SEFCU SERVICES, LLC ($8,839) and UNITED WHOLESALE MORTGAGE, LLC ($9,558).

    The lowest rate Albany VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.97%), UNITED WHOLESALE MORTGAGE, LLC (6.23%), SEFCU SERVICES, LLC (6.31%), USAA Federal Savings Bank (6.32%) and QUICKEN LOANS, LLC (6.33%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Albany (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 $277,450 (14.5%) $331,489 (8.3%) 1.03 3,263
    2018-02-01 $284,900 (14.0%) $334,659 (7.8%) 1.03 3,167
    2018-03-01 $289,900 (11.7%) $336,724 (6.6%) 1.02 3,127
    2018-04-01 $297,900 (12.4%) $339,764 (6.1%) 1.01 3,182
    2018-05-01 $296,725 (10.0%) $336,798 (4.6%) 0.99 3,485
    2018-06-01 $294,900 (9.3%) $339,301 (5.1%) 0.98 3,870
    2018-07-01 $292,206 (8.3%) $339,749 (5.6%) 0.98 4,063
    2018-08-01 $288,705 (7.7%) $336,295 (5.5%) 0.97 4,114
    2018-09-01 $289,750 (7.7%) $336,688 (5.0%) 0.97 4,210
    2018-10-01 $289,900 (8.4%) $337,299 (5.3%) 0.98 4,244
    2018-11-01 $292,450 (10.2%) $340,327 (6.4%) 0.99 4,173
    2018-12-01 $292,900 (8.5%) $338,418 (3.8%) 1.01 3,824
    2019-01-01 $299,650 (8.0%) $343,820 (3.7%) 1.04 3,461
    2019-02-01 $306,400 (7.6%) $352,169 (5.2%) 1.04 3,360
    2019-03-01 $309,406 (6.7%) $354,857 (5.4%) 1.01 3,354
    2019-04-01 $309,856 (4.0%) $356,110 (4.8%) 0.98 3,409
    2019-05-01 $299,900 (1.1%) $351,092 (4.2%) 0.94 3,533
    2019-06-01 $299,400 (1.5%) $350,236 (3.2%) 0.94 3,692
    2019-07-01 $299,450 (2.5%) $346,566 (2.0%) 0.94 3,720
    2019-08-01 $293,609 (1.7%) $341,328 (1.5%) 0.93 3,837
    2019-09-01 $291,523 (0.6%) $340,530 (1.1%) 0.93 3,896
    2019-10-01 $289,900 (0.0%) $340,582 (1.0%) 0.94 3,912
    2019-11-01 $289,900 (-0.9%) $338,246 (-0.6%) 0.95 3,508
    2019-12-01 $294,300 (0.5%) $340,145 (0.5%) 0.98 3,155
    2020-01-01 $295,825 (-1.3%) $339,821 (-1.2%) 0.99 2,852
    2020-02-01 $304,900 (-0.5%) $344,144 (-2.3%) 1.00 2,702
    2020-03-01 $312,500 (1.0%) $347,723 (-2.0%) 0.98 2,667
    2020-04-01 $317,000 (2.3%) $353,767 (-0.7%) 0.99 2,493
    2020-05-01 $321,400 (7.2%) $359,272 (2.3%) 0.98 2,451
    2020-06-01 $338,975 (13.2%) $372,764 (6.4%) 1.00 2,424
    2020-07-01 $342,550 (14.4%) $378,422 (9.2%) 0.99 2,313
    2020-08-01 $339,900 (15.8%) $391,399 (14.7%) 0.97 2,240
    2020-09-01 $335,000 (14.9%) $393,352 (15.5%) 0.96 2,246
    2020-10-01 $335,000 (15.6%) $395,785 (16.2%) 0.96 2,227
    2020-11-01 $336,650 (16.1%) $397,743 (17.6%) 0.99 2,143
    2020-12-01 $338,950 (15.2%) $399,632 (17.5%) 1.01 1,939
    2021-01-01 $344,900 (16.6%) $412,175 (21.3%) 1.03 1,673
    2021-02-01 $366,900 (20.3%) $434,572 (26.3%) 1.07 1,409
    2021-03-01 $368,200 (17.8%) $458,072 (31.7%) 1.05 1,330
    2021-04-01 $368,700 (16.3%) $459,619 (29.9%) 1.00 1,317
    2021-05-01 $364,925 (13.5%) $456,778 (27.1%) 0.97 1,346
    2021-06-01 $349,900 (3.2%) $450,263 (20.8%) 0.92 1,498
    2021-07-01 $349,900 (2.2%) $447,740 (18.3%) 0.92 1,637
    2021-08-01 $344,375 (1.3%) $443,009 (13.2%) 0.92 1,732
    2021-09-01 $334,175 (-0.3%) $439,484 (11.7%) 0.89 1,697
    2021-10-01 $325,000 (-3.0%) $433,934 (9.6%) 0.87 1,622
    2021-11-01 $324,925 (-3.5%) $430,987 (8.4%) 0.87 1,509
    2021-12-01 $344,200 (1.6%) $443,656 (11.0%) 0.93 1,359
    2022-01-01 $349,900 (1.5%) $453,937 (10.1%) 0.95 1,132
    2022-02-01 $367,750 (0.2%) $483,627 (11.3%) 0.96 930
    2022-03-01 $369,900 (0.5%) $490,904 (7.2%) 0.93 890
    2022-04-01 $369,900 (0.3%) $483,436 (5.2%) 0.88 926
    2022-05-01 $369,900 (1.4%) $466,422 (2.1%) 0.85 1,104
    2022-06-01 $369,900 (5.7%) $468,867 (4.1%) 0.82 1,283
    2022-07-01 $350,000 (0.0%) $431,852 (-3.6%) 0.79 1,470
    2022-08-01 $351,950 (2.2%) $431,024 (-2.7%) 0.81 1,478
    2022-09-01 $344,000 (2.9%) $440,622 (0.3%) 0.80 1,431
    2022-10-01 $348,250 (7.2%) $435,434 (0.4%) 0.82 1,443
    2022-11-01 $339,950 (4.6%) $418,875 (-2.8%) 0.82 1,395
    2022-12-01 $344,950 (0.2%) $429,518 (-3.2%) 0.85 1,269
    2023-01-01 $364,171 (4.1%) $435,600 (-4.0%) 0.90 1,119
    2023-02-01 $384,900 (4.7%) $457,247 (-5.5%) 0.93 1,032
    2023-03-01 $399,900 (8.1%) $463,576 (-5.6%) 0.94 926
    2023-04-01 $408,000 (10.3%) $473,794 (-2.0%) 0.95 886
    2023-05-01 $407,500 (10.2%) $494,081 (5.9%) 0.92 965
    2023-06-01 $416,950 (12.7%) $505,857 (7.9%) 0.94 1,063
    2023-07-01 $419,000 (19.7%) $514,590 (19.2%) 0.95 1,142
    2023-08-01 $419,900 (19.3%) $513,246 (19.1%) 0.96 1,221
    2023-09-01 $415,900 (20.9%) $509,342 (15.6%) 0.97 1,263
    2023-10-01 $399,072 (14.6%) $506,194 (16.3%) 0.94 1,311
    2023-11-01 $392,450 (15.4%) $494,104 (18.0%) 0.93 1,338
    2023-12-01 $398,300 (15.5%) $495,131 (15.3%) 0.97 1,210
    2024-01-01 $423,188 (16.2%) $515,780 (18.4%) 1.03 1,059
    2024-02-01 $433,960 (12.8%) $523,695 (14.5%) 1.04 986
    2024-03-01 $435,650 (8.9%) $560,118 (20.8%) 1.03 898
    2024-04-01 $449,897 (10.3%) $575,308 (21.4%) 1.05 881
    2024-05-01 $443,050 (8.7%) $568,536 (15.1%) 1.02 1,016
    2024-06-01 $429,900 (3.1%) $561,286 (11.0%) 1.01 1,184
    2024-07-01 $428,374 (2.2%) $568,497 (10.5%) 0.98 1,273
    2024-08-01 $420,000 (0.0%) $564,119 (9.9%) 0.98 1,278
    2024-09-01 $415,000 (-0.2%) $550,596 (8.1%) 0.98 1,365
    2024-10-01 $419,575 (5.1%) $549,188 (8.5%) 0.99 1,345
    2024-11-01 $414,900 (5.7%) $540,236 (9.3%) 1.00 1,301
    2024-12-01 $415,000 (4.2%) $538,710 (8.8%) 1.03 1,144
    2025-01-01 $407,475 (-3.7%) $541,131 (4.9%) 0.00 989
    Albany's median listing price for 2025-01-01 was $407,475, a difference of $-15,713 (-3.7%) versus the prior year and $-7,525 versus the prior month.

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

    Albany's average listing price for 2025-01-01 was $541,131, a difference of $25,351 (4.9%) versus the prior year and $2,421 versus the prior month.

    For the 2025-01-01 period, Albany had 989 MLS listings, a difference of -155 listings (-14%) versus the prior month and -70 listings (-7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albany (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,832 sqft
    2018-02-01 101 days 1,850 sqft
    2018-03-01 89 days 1,853 sqft
    2018-04-01 73 days 1,871 sqft
    2018-05-01 62 days 1,875 sqft
    2018-06-01 57 days 1,873 sqft
    2018-07-01 62 days 1,886 sqft
    2018-08-01 68 days 1,875 sqft
    2018-09-01 75 days 1,876 sqft
    2018-10-01 75 days 1,876 sqft
    2018-11-01 77 days 1,890 sqft
    2018-12-01 85 days 1,874 sqft
    2019-01-01 93 days 1,883 sqft
    2019-02-01 95 days 1,901 sqft
    2019-03-01 85 days 1,907 sqft
    2019-04-01 71 days 1,901 sqft
    2019-05-01 59 days 1,908 sqft
    2019-06-01 62 days 1,907 sqft
    2019-07-01 68 days 1,905 sqft
    2019-08-01 69 days 1,893 sqft
    2019-09-01 71 days 1,883 sqft
    2019-10-01 73 days 1,874 sqft
    2019-11-01 80 days 1,868 sqft
    2019-12-01 97 days 1,851 sqft
    2020-01-01 106 days 1,852 sqft
    2020-02-01 92 days 1,878 sqft
    2020-03-01 72 days 1,896 sqft
    2020-04-01 78 days 1,887 sqft
    2020-05-01 86 days 1,903 sqft
    2020-06-01 84 days 1,931 sqft
    2020-07-01 64 days 1,987 sqft
    2020-08-01 58 days 1,942 sqft
    2020-09-01 53 days 1,915 sqft
    2020-10-01 55 days 1,900 sqft
    2020-11-01 66 days 1,888 sqft
    2020-12-01 76 days 1,878 sqft
    2021-01-01 88 days 1,860 sqft
    2021-02-01 92 days 1,886 sqft
    2021-03-01 71 days 1,886 sqft
    2021-04-01 60 days 1,887 sqft
    2021-05-01 50 days 1,876 sqft
    2021-06-01 44 days 1,878 sqft
    2021-07-01 49 days 1,872 sqft
    2021-08-01 52 days 1,865 sqft
    2021-09-01 55 days 1,836 sqft
    2021-10-01 59 days 1,800 sqft
    2021-11-01 60 days 1,780 sqft
    2021-12-01 66 days 1,826 sqft
    2022-01-01 78 days 2,035 sqft
    2022-02-01 82 days 1,926 sqft
    2022-03-01 56 days 1,862 sqft
    2022-04-01 49 days 1,824 sqft
    2022-05-01 36 days 1,817 sqft
    2022-06-01 38 days 1,824 sqft
    2022-07-01 40 days 1,803 sqft
    2022-08-01 52 days 1,819 sqft
    2022-09-01 58 days 1,811 sqft
    2022-10-01 58 days 1,800 sqft
    2022-11-01 60 days 1,775 sqft
    2022-12-01 68 days 1,762 sqft
    2023-01-01 78 days 1,762 sqft
    2023-02-01 73 days 1,791 sqft
    2023-03-01 68 days 1,816 sqft
    2023-04-01 62 days 1,816 sqft
    2023-05-01 45 days 1,847 sqft
    2023-06-01 44 days 1,835 sqft
    2023-07-01 49 days 1,831 sqft
    2023-08-01 50 days 1,832 sqft
    2023-09-01 52 days 1,819 sqft
    2023-10-01 54 days 1,800 sqft
    2023-11-01 58 days 1,804 sqft
    2023-12-01 64 days 1,800 sqft
    2024-01-01 73 days 1,800 sqft
    2024-02-01 73 days 1,838 sqft
    2024-03-01 62 days 1,821 sqft
    2024-04-01 55 days 1,841 sqft
    2024-05-01 32 days 1,844 sqft
    2024-06-01 36 days 1,850 sqft
    2024-07-01 49 days 1,846 sqft
    2024-08-01 52 days 1,820 sqft
    2024-09-01 51 days 1,840 sqft
    2024-10-01 55 days 1,845 sqft
    2024-11-01 58 days 1,804 sqft
    2024-12-01 66 days 1,787 sqft
    2025-01-01 0 days 1,774 sqft
    Albany's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Albany's median square footage for active listings during the 2025-01-01 period was 1,774 sqft. One year prior, the average listing was 1,800 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.