Albany VA Loan Rates, Closing Costs & Stats

ALBANY-SCHENECTADY-TROY, NY

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 483 VA loans during 2024. The total origination value was $155,325,000, with an average VA loan value of $321,584.

Albany VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Albany averaged 6.74% for the week of 2025-04-11, compared to the national average (all VA variants) of 6.292% for the same period.

Albany's average VA mortgage closing costs are $6,950.

The average rate for the prior week (2025-04-04) was 6.08% and one month ago for the week of 2025-03-07, the average rate was 6.36%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2025-04-11, the average rate was 6.44%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 64 6.50% $7,513
HOMESTEAD FUNDING CORP. 60 6.39% $6,086
UNITED WHOLESALE MORTGAGE, LLC 53 6.18% $9,569
QUICKEN LOANS, LLC 47 6.34% $10,953
NAVY FEDERAL CREDIT UNION 45 5.92% $6,349
SEFCU SERVICES, LLC 20 5.99% $8,648
PLANET HOME LENDING, LLC 15 5.87% $5,124
Premium Mortgage Corporation 14 6.37% $7,125
USAA Federal Savings Bank 14 6.67% $8,163
The Federal Savings Bank 13 6.42% $19,358
NEWREZ LLC 10 6.38% $10,659
FREEDOM MORTGAGE CORPORATION 10 6.66% $15,141
Barrington Bank & Trust Company, N.A. 10 6.62% $9,037
EMM LOANS LLC 6 6.31% $12,964
M&T Bank 6 6.17% $8,163
Mr. Cooper ( Nationstar Mortgage ) 5 6.45% $7,008
MOVEMENT MORTGAGE, LLC 5 6.50% $9,306
PLAZA HOME MORTGAGE, INC. 5 5.85% $11,072
GUARANTEED RATE, INC. 4 6.19% $3,481
LOANDEPOT.COM, LLC 4 5.28% $11,822
SUNMARK FEDERAL CREDIT UNION 4 6.41% $11,038
PENNYMAC LOAN SERVICES, LLC 4 6.12% $12,694
RELIANCE FIRST CAPITAL, LLC 3 6.88% $9,295
CROSSCOUNTRY MORTGAGE, LLC 3 6.73% $8,961
1ST PRIORITY MORTGAGE, INC. 3 6.50% $7,890
Carrington Mortgage Services, LLC 3 6.29% $4,755
Evolve Bank & Trust 3 5.71% $5,298
Equity Prime Mortgage LLC 2 6.69% $5,161
JPMorgan Chase Bank 2 6.81% $13,308
KeyBank 2 5.69% $9,953
AMERICAN FINANCIAL NETWORK, INC. 2 6.00% $5,778
CMG MORTGAGE, INC. 2 5.88% $9,715
AMERICAN FINANCING CORPORATION 1 5.75% $8,792
Truist 1 6.50% $11,134
UNITED MORTGAGE CORP 1 7.63% $16,279
ALLIED MORTGAGE GROUP, INC. 1 5.25% $9,539
Flagstar Bank, FSB 1 7.13% $12,797
GUARANTEED RATE AFFINITY, LLC 1 6.38% $0
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $18,453
US MORTGAGE CORPORATION 1 6.13% $12,487
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.50% $9,910
NBKC BANK 1 6.00% $10,728
CONTOUR MORTGAGE CORPORATION 1 6.63% $16,352
NP, Inc. 1 5.75% $8,096
PENTAGON FEDERAL CREDIT UNION 1 6.00% $3,883
Plains Commerce Bank 1 6.50% $6,654
Wells Fargo Bank 1 5.38% $7,693
PNC Bank 1 6.00% $20,029
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $16,720
BROKER SOLUTIONS, INC. 1 6.75% $4,874
Armed Forces Bank 1 6.00% $2,543

The top Albany VA lender as defined by loan originations is Mortgage Research Center, LLC, with 64 VA loans originated. Their average total fees are $7,513, which is $1,427 higher than the next largest lender, HOMESTEAD FUNDING CORP..

The lowest fee Albany VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($5,124), HOMESTEAD FUNDING CORP. ($6,086), NAVY FEDERAL CREDIT UNION ($6,349), Premium Mortgage Corporation ($7,125) and Mortgage Research Center, LLC ($7,513).

The lowest rate Albany VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (5.87%), NAVY FEDERAL CREDIT UNION (5.92%), SEFCU SERVICES, LLC (5.99%), UNITED WHOLESALE MORTGAGE, LLC (6.18%) and QUICKEN LOANS, LLC (6.34%).


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%) 0.98 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%) 1.04 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%) 1.01 1,016
2024-06-01 $429,900 (3.1%) $561,286 (11.0%) 0.98 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%) 1.02 989
2025-02-01 $444,450 (2.4%) $568,830 (8.6%) 1.08 945
2025-03-01 $449,950 (3.3%) $608,426 (8.6%) 0.00 924
Albany's median listing price for 2025-03-01 was $449,950, a difference of $14,300 (3.3%) versus the prior year and $5,500 versus the prior month.

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

Albany's average listing price for 2025-03-01 was $608,426, a difference of $48,308 (8.6%) versus the prior year and $39,596 versus the prior month.

For the 2025-03-01 period, Albany had 924 MLS listings, a difference of -21 listings (-2%) versus the prior month and 26 listings (3%) 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 85 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 61 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 77 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 59 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 51 days 1,819 sqft
2023-10-01 54 days 1,800 sqft
2023-11-01 58 days 1,804 sqft
2023-12-01 65 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 56 days 1,841 sqft
2024-05-01 36 days 1,844 sqft
2024-06-01 41 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 71 days 1,774 sqft
2025-02-01 70 days 1,790 sqft
2025-03-01 0 days 1,798 sqft
Albany'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.

Albany's median square footage for active listings during the 2025-03-01 period was 1,798 sqft. One year prior, the average listing was 1,821 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.