Bridgeport VA Loan Rates, Closing Costs & Stats

BRIDGEPORT-STAMFORD-NORWALK, CT

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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.

    Bridgeport's 36 lenders originated 130 VA loans during 2023. The total origination value was $70,040,000, with an average VA loan value of $538,769.

    Bridgeport VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Bridgeport averaged 6.58% for the week of 2024-07-19, compared to the national average (all VA variants) of 6.303% for the same period.

    Bridgeport's average VA mortgage closing costs are $9,058.

    The average rate for the prior week (2024-07-12) was 6.23% and one month ago for the week of 2024-06-14, the average rate was 6.39%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.58%.

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

    Bridgeport 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 Bridgeport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 28 6.39% $13,602
    QUICKEN LOANS, LLC 14 6.35% $23,424
    NAVY FEDERAL CREDIT UNION 11 5.86% $7,209
    CROSSCOUNTRY MORTGAGE, LLC 7 6.79% $9,584
    UNITED WHOLESALE MORTGAGE, LLC 6 6.23% $11,860
    LOANDEPOT.COM, LLC 4 6.44% $34,219
    Mr. Cooper ( Nationstar Mortgage ) 4 6.31% $7,971
    PENNYMAC LOAN SERVICES, LLC 4 6.00% $14,840
    GUARANTEED RATE, INC. 3 5.71% $3,513
    NORWICH COMMERCIAL GROUP, INC. 3 6.54% $8,936
    The Federal Savings Bank 3 6.29% $15,524
    USAA Federal Savings Bank 3 6.71% $16,376
    FREEDOM MORTGAGE CORPORATION 3 6.46% $30,312
    CALIBER HOME LOANS, INC. 2 6.38% $20,807
    U.S. Bank 2 6.50% $25,204
    Prosperity Home Mortgage, LLC 2 6.44% $7,056
    CMG MORTGAGE, INC. 2 6.56% $11,052
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.31% $17,629
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.75% $10,768
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 7.63% $12,630
    VILLAGE CAPITAL MORTGAGE 1 6.25% $31,206
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $7,338
    Barrington Bank & Trust Company, N.A. 1 6.75% $7,227
    CARDINAL FINANCIAL 1 6.25% $17,870
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $9,393
    JPMorgan Chase Bank 1 6.75% $2,333
    Magnolia Bank 1 7.25% $37,933
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.25% $12,518
    NBKC BANK 1 6.63% $0
    NEW DAY FINANCIAL, LLC 1 6.49% $50,884
    NEWREZ LLC 1 5.50% $20,050
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $14,863
    PLAZA HOME MORTGAGE, INC. 1 7.00% $8,564
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $10,269
    SeaTrust Mortgage Company 1 5.00% $44,786
    Acre Mortgage and Financial Inc 1 5.75% $21,305

    The top Bridgeport VA lender as defined by loan originations is Mortgage Research Center, LLC, with 28 VA loans originated. Their average total fees are $13,602, which is $9,822 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bridgeport VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($7,209), Mortgage Research Center, LLC ($13,602), QUICKEN LOANS, LLC ($23,424), .

    The lowest rate Bridgeport VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.86%), QUICKEN LOANS, LLC (6.35%), Mortgage Research Center, LLC (6.39%), .

    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.