Buffalo VA Loan Rates, Closing Costs & Stats

BUFFALO-CHEEKTOWAGA, NY

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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.

    Buffalo's 51 lenders originated 725 VA loans during 2024. The total origination value was $206,075,000, with an average VA loan value of $284,241.

    Buffalo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Buffalo averaged 6.62% for the week of 2025-05-16, compared to the national average (all VA variants) of 6.407% for the same period.

    Buffalo's average VA mortgage closing costs are $5,903.

    The average rate for the prior week (2025-05-09) was 6.88% and one month ago for the week of 2025-04-11, the average rate was 6.55%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-05-16, the average rate was 7.23%.

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

    Buffalo 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 Buffalo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 112 6.26% $10,525
    Mortgage Research Center, LLC 91 6.55% $5,745
    Premium Mortgage Corporation 72 6.39% $5,670
    UNITED WHOLESALE MORTGAGE, LLC 57 6.12% $5,501
    CROSSCOUNTRY MORTGAGE, LLC 33 6.48% $7,723
    NAVY FEDERAL CREDIT UNION 32 5.95% $7,416
    M&T Bank 24 6.10% $6,704
    USAA Federal Savings Bank 20 6.52% $7,309
    AMERICAN FINANCIAL NETWORK, INC. 19 6.23% $6,614
    HUNT MORTGAGE CORPORATION 17 6.77% $5,639
    1ST PRIORITY MORTGAGE, INC. 16 6.41% $6,782
    KeyBank 15 6.27% $5,473
    Mr. Cooper ( Nationstar Mortgage ) 15 6.30% $11,132
    PLANET HOME LENDING, LLC 13 5.85% $5,761
    Barrington Bank & Trust Company, N.A. 13 6.59% $6,269
    NVR Mortgage Finance, Inc. 12 5.99% $8,563
    PENNYMAC LOAN SERVICES, LLC 10 6.05% $7,586
    PLAZA HOME MORTGAGE, INC. 10 6.27% $7,830
    Northwest Bank 10 6.15% $6,163
    FREEDOM MORTGAGE CORPORATION 9 6.74% $11,421
    MOVEMENT MORTGAGE, LLC 8 6.48% $7,263
    LOANDEPOT.COM, LLC 8 6.22% $9,778
    Flagstar Bank, FSB 7 6.80% $8,642
    Citizens Bank 6 6.08% $10,380
    The Federal Savings Bank 5 6.75% $9,119
    HOMESTEAD FUNDING CORP. 5 6.58% $3,838
    EVERETT FINANCIAL, INC. 5 6.50% $6,688
    RELIANCE FIRST CAPITAL, LLC 3 6.21% $14,835
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $11,400
    PENTAGON FEDERAL CREDIT UNION 3 5.58% $9,222
    Carrington Mortgage Services, LLC 2 5.94% $6,084
    Five Star Bank 2 6.50% $10,600
    GUARANTEED RATE AFFINITY, LLC 2 6.06% $3,094
    NBKC BANK 2 6.31% $2,812
    NEWREZ LLC 2 6.75% $10,835
    PHH Mortgage Corporation 1 7.63% $4,164
    Nations Lending Corporation 1 5.88% $7,094
    GUARANTEED RATE, INC. 1 6.75% $0
    PREMIA MORTGAGE, LLC 1 6.50% $5,368
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.50% $4,009
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $0
    EMBRACE HOME LOANS, INC. 1 5.75% $6,361
    Community Bank 1 5.75% $2,754
    ROYAL UNITED MORTGAGE LLC 1 6.75% $12,134
    SEFCU SERVICES, LLC 1 6.00% $825
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $9,434
    SIRVA MORTGAGE, INC. 1 6.63% $20
    Texana Bank 1 7.63% $15,323
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $15,778
    AMERICAN FINANCING CORPORATION 1 6.13% $9,835
    ALLIED MORTGAGE GROUP, INC. 1 6.25% $1,856

    The top Buffalo VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 112 VA loans originated. Their average total fees are $10,525, which is $4,781 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Buffalo VA lenders (with over 10 loans originated) are KeyBank ($5,473), UNITED WHOLESALE MORTGAGE, LLC ($5,501), HUNT MORTGAGE CORPORATION ($5,639), Premium Mortgage Corporation ($5,670) and Mortgage Research Center, LLC ($5,745).

    The lowest rate Buffalo VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (5.85%), NAVY FEDERAL CREDIT UNION (5.95%), NVR Mortgage Finance, Inc. (5.99%), PENNYMAC LOAN SERVICES, LLC (6.05%) and M&T Bank (6.10%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Buffalo (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 $159,923 (3.5%) $230,436 (7.2%) 0.59 1,659
    2018-02-01 $167,029 (4.5%) $234,966 (5.1%) 0.61 1,491
    2018-03-01 $175,900 (6.7%) $241,002 (6.1%) 0.62 1,490
    2018-04-01 $187,450 (10.3%) $257,470 (9.2%) 0.64 1,533
    2018-05-01 $197,000 (9.5%) $264,800 (7.7%) 0.66 1,727
    2018-06-01 $199,000 (10.6%) $266,124 (7.9%) 0.66 1,988
    2018-07-01 $195,000 (8.4%) $262,649 (6.5%) 0.65 2,186
    2018-08-01 $195,000 (8.4%) $262,915 (8.3%) 0.65 2,338
    2018-09-01 $198,000 (11.2%) $263,742 (11.3%) 0.67 2,372
    2018-10-01 $189,900 (8.6%) $259,259 (9.2%) 0.64 2,361
    2018-11-01 $185,000 (8.9%) $252,979 (6.8%) 0.63 2,165
    2018-12-01 $179,900 (6.1%) $247,777 (4.9%) 0.62 1,975
    2019-01-01 $179,900 (12.5%) $247,838 (7.6%) 0.62 1,765
    2019-02-01 $182,400 (9.2%) $254,843 (8.5%) 0.62 1,613
    2019-03-01 $195,643 (11.2%) $272,977 (13.3%) 0.64 1,543
    2019-04-01 $212,400 (13.3%) $288,372 (12.0%) 0.67 1,556
    2019-05-01 $220,847 (12.1%) $290,625 (9.8%) 0.69 1,699
    2019-06-01 $222,245 (11.7%) $288,903 (8.6%) 0.69 1,857
    2019-07-01 $219,900 (12.8%) $285,113 (8.6%) 0.69 1,982
    2019-08-01 $214,445 (10.0%) $279,611 (6.4%) 0.68 2,013
    2019-09-01 $206,264 (4.2%) $273,784 (3.8%) 0.66 2,078
    2019-10-01 $199,900 (5.3%) $268,797 (3.7%) 0.65 2,112
    2019-11-01 $189,900 (2.7%) $258,529 (2.2%) 0.62 1,910
    2019-12-01 $189,900 (5.6%) $256,498 (3.5%) 0.63 1,633
    2020-01-01 $189,900 (5.6%) $257,238 (3.8%) 0.63 1,460
    2020-02-01 $189,900 (4.1%) $266,682 (4.7%) 0.62 1,341
    2020-03-01 $199,900 (2.2%) $274,018 (0.4%) 0.63 1,260
    2020-04-01 $217,450 (2.4%) $282,140 (-2.2%) 0.68 1,201
    2020-05-01 $229,900 (4.1%) $294,276 (1.3%) 0.70 1,195
    2020-06-01 $234,900 (5.7%) $295,908 (2.4%) 0.69 1,255
    2020-07-01 $233,450 (6.2%) $300,594 (5.4%) 0.68 1,239
    2020-08-01 $224,450 (4.7%) $296,557 (6.1%) 0.64 1,211
    2020-09-01 $221,948 (7.6%) $293,599 (7.2%) 0.64 1,201
    2020-10-01 $210,000 (5.1%) $288,123 (7.2%) 0.60 1,128
    2020-11-01 $209,950 (10.6%) $286,274 (10.7%) 0.61 993
    2020-12-01 $202,500 (6.6%) $282,953 (10.3%) 0.60 842
    2021-01-01 $210,000 (10.6%) $289,465 (12.5%) 0.63 695
    2021-02-01 $232,675 (22.5%) $305,980 (14.7%) 0.68 648
    2021-03-01 $242,200 (21.2%) $308,863 (12.7%) 0.69 685
    2021-04-01 $249,300 (14.7%) $323,513 (14.7%) 0.67 706
    2021-05-01 $248,072 (7.9%) $316,915 (7.7%) 0.66 785
    2021-06-01 $247,625 (5.4%) $321,818 (8.8%) 0.65 911
    2021-07-01 $239,900 (2.8%) $316,994 (5.5%) 0.63 1,073
    2021-08-01 $227,475 (1.4%) $310,479 (4.7%) 0.61 1,165
    2021-09-01 $229,925 (3.6%) $311,442 (6.1%) 0.61 1,103
    2021-10-01 $225,000 (7.1%) $313,349 (8.8%) 0.60 1,063
    2021-11-01 $217,450 (3.6%) $310,134 (8.3%) 0.58 961
    2021-12-01 $213,475 (5.4%) $313,998 (11.0%) 0.58 770
    2022-01-01 $210,750 (0.4%) $318,143 (9.9%) 0.57 629
    2022-02-01 $209,950 (-9.8%) $324,928 (6.2%) 0.55 569
    2022-03-01 $219,900 (-9.2%) $332,589 (7.7%) 0.55 597
    2022-04-01 $225,000 (-9.8%) $342,206 (5.8%) 0.54 679
    2022-05-01 $238,950 (-3.7%) $344,207 (8.6%) 0.55 826
    2022-06-01 $244,675 (-1.2%) $333,222 (3.5%) 0.54 1,027
    2022-07-01 $249,900 (4.2%) $338,229 (6.7%) 0.56 1,221
    2022-08-01 $244,925 (7.7%) $335,657 (8.1%) 0.57 1,278
    2022-09-01 $239,900 (4.3%) $332,388 (6.7%) 0.56 1,197
    2022-10-01 $239,900 (6.6%) $324,532 (3.6%) 0.56 1,167
    2022-11-01 $239,900 (10.3%) $325,363 (4.9%) 0.58 1,125
    2022-12-01 $229,900 (7.7%) $316,837 (0.9%) 0.57 985
    2023-01-01 $225,000 (6.8%) $322,535 (1.4%) 0.56 803
    2023-02-01 $227,450 (8.3%) $319,473 (-1.7%) 0.55 749
    2023-03-01 $246,175 (12.0%) $338,458 (1.8%) 0.58 730
    2023-04-01 $249,900 (11.1%) $347,138 (1.4%) 0.58 766
    2023-05-01 $252,925 (5.9%) $351,050 (2.0%) 0.57 883
    2023-06-01 $277,697 (13.5%) $357,820 (7.4%) 0.62 988
    2023-07-01 $267,900 (7.2%) $348,338 (3.0%) 0.61 1,068
    2023-08-01 $259,725 (6.0%) $347,052 (3.4%) 0.60 1,064
    2023-09-01 $259,900 (8.3%) $350,891 (5.6%) 0.61 1,151
    2023-10-01 $254,900 (6.3%) $353,094 (8.8%) 0.60 1,196
    2023-11-01 $249,900 (4.2%) $355,570 (9.3%) 0.60 1,122
    2023-12-01 $249,000 (8.3%) $363,533 (14.7%) 0.61 960
    2024-01-01 $240,000 (6.7%) $358,849 (11.3%) 0.59 789
    2024-02-01 $251,125 (10.4%) $373,126 (16.8%) 0.60 715
    2024-03-01 $269,980 (9.7%) $377,876 (11.7%) 0.64 761
    2024-04-01 $284,900 (14.0%) $383,630 (10.5%) 0.66 805
    2024-05-01 $297,450 (17.6%) $389,218 (10.9%) 0.68 930
    2024-06-01 $289,000 (4.1%) $380,399 (6.3%) 0.66 1,087
    2024-07-01 $279,950 (4.5%) $380,819 (9.3%) 0.64 1,170
    2024-08-01 $279,900 (7.8%) $379,239 (9.3%) 0.65 1,244
    2024-09-01 $277,450 (6.8%) $377,939 (7.7%) 0.65 1,309
    2024-10-01 $269,900 (5.9%) $375,602 (6.4%) 0.64 1,314
    2024-11-01 $249,995 (0.0%) $365,720 (2.9%) 0.60 1,220
    2024-12-01 $249,950 (0.4%) $364,184 (0.2%) 0.62 1,124
    2025-01-01 $252,450 (5.2%) $362,352 (1.0%) 0.63 905
    2025-02-01 $249,974 (-0.5%) $375,379 (0.6%) 0.61 895
    2025-03-01 $260,000 (-3.7%) $395,994 (4.8%) 0.61 745
    2025-04-01 $280,000 (-1.7%) $395,417 (3.1%) 0.65 831
    Buffalo's median listing price for 2025-04-01 was $280,000, a difference of $-4,900 (-1.7%) versus the prior year and $20,000 versus the prior month.

    Buffalo's median listing price comes in at 65% of the national average.

    Buffalo's average listing price for 2025-04-01 was $395,417, a difference of $11,787 (3.1%) versus the prior year and $-577 versus the prior month.

    For the 2025-04-01 period, Buffalo had 831 MLS listings, a difference of 86 listings (12%) versus the prior month and 26 listings (3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Buffalo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 68 days 1,634 sqft
    2018-02-01 60 days 1,647 sqft
    2018-03-01 40 days 1,667 sqft
    2018-04-01 32 days 1,701 sqft
    2018-05-01 26 days 1,716 sqft
    2018-06-01 31 days 1,715 sqft
    2018-07-01 35 days 1,726 sqft
    2018-08-01 38 days 1,737 sqft
    2018-09-01 45 days 1,741 sqft
    2018-10-01 49 days 1,728 sqft
    2018-11-01 54 days 1,709 sqft
    2018-12-01 60 days 1,684 sqft
    2019-01-01 67 days 1,650 sqft
    2019-02-01 67 days 1,667 sqft
    2019-03-01 49 days 1,702 sqft
    2019-04-01 39 days 1,737 sqft
    2019-05-01 34 days 1,775 sqft
    2019-06-01 33 days 1,768 sqft
    2019-07-01 37 days 1,750 sqft
    2019-08-01 39 days 1,722 sqft
    2019-09-01 42 days 1,705 sqft
    2019-10-01 45 days 1,688 sqft
    2019-11-01 57 days 1,641 sqft
    2019-12-01 72 days 1,634 sqft
    2020-01-01 81 days 1,639 sqft
    2020-02-01 67 days 1,659 sqft
    2020-03-01 55 days 1,646 sqft
    2020-04-01 64 days 1,690 sqft
    2020-05-01 68 days 1,730 sqft
    2020-06-01 42 days 1,734 sqft
    2020-07-01 34 days 1,730 sqft
    2020-08-01 34 days 1,704 sqft
    2020-09-01 37 days 1,684 sqft
    2020-10-01 45 days 1,632 sqft
    2020-11-01 57 days 1,648 sqft
    2020-12-01 70 days 1,633 sqft
    2021-01-01 77 days 1,630 sqft
    2021-02-01 56 days 1,615 sqft
    2021-03-01 41 days 1,620 sqft
    2021-04-01 32 days 1,658 sqft
    2021-05-01 26 days 1,652 sqft
    2021-06-01 23 days 1,643 sqft
    2021-07-01 26 days 1,659 sqft
    2021-08-01 30 days 1,639 sqft
    2021-09-01 40 days 1,632 sqft
    2021-10-01 47 days 1,610 sqft
    2021-11-01 49 days 1,583 sqft
    2021-12-01 65 days 1,563 sqft
    2022-01-01 75 days 1,527 sqft
    2022-02-01 65 days 1,518 sqft
    2022-03-01 42 days 1,542 sqft
    2022-04-01 26 days 1,556 sqft
    2022-05-01 21 days 1,591 sqft
    2022-06-01 21 days 1,591 sqft
    2022-07-01 30 days 1,624 sqft
    2022-08-01 36 days 1,616 sqft
    2022-09-01 45 days 1,586 sqft
    2022-10-01 52 days 1,587 sqft
    2022-11-01 53 days 1,589 sqft
    2022-12-01 61 days 1,585 sqft
    2023-01-01 71 days 1,578 sqft
    2023-02-01 62 days 1,555 sqft
    2023-03-01 45 days 1,574 sqft
    2023-04-01 40 days 1,584 sqft
    2023-05-01 30 days 1,607 sqft
    2023-06-01 31 days 1,642 sqft
    2023-07-01 38 days 1,616 sqft
    2023-08-01 39 days 1,601 sqft
    2023-09-01 39 days 1,600 sqft
    2023-10-01 39 days 1,586 sqft
    2023-11-01 45 days 1,606 sqft
    2023-12-01 59 days 1,589 sqft
    2024-01-01 68 days 1,607 sqft
    2024-02-01 67 days 1,594 sqft
    2024-03-01 38 days 1,603 sqft
    2024-04-01 34 days 1,609 sqft
    2024-05-01 26 days 1,634 sqft
    2024-06-01 29 days 1,605 sqft
    2024-07-01 38 days 1,596 sqft
    2024-08-01 39 days 1,590 sqft
    2024-09-01 40 days 1,578 sqft
    2024-10-01 42 days 1,557 sqft
    2024-11-01 47 days 1,546 sqft
    2024-12-01 61 days 1,536 sqft
    2025-01-01 71 days 1,525 sqft
    2025-02-01 79 days 1,528 sqft
    2025-03-01 49 days 1,544 sqft
    2025-04-01 35 days 1,550 sqft
    Buffalo's median listing age (time on market) for 2025-04-01 was 35 days. This is 3% longer than the same period one year ago.

    Buffalo's median square footage for active listings during the 2025-04-01 period was 1,550 sqft. One year prior, the average listing was 1,609 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.