Buffalo VA Loan Rates, Closing Costs & Stats

BUFFALO-CHEEKTOWAGA, 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.

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 6.8% for the week of 2025-04-11, compared to the national average (all VA variants) of 6.292% for the same period.

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

The average rate for the prior week (2025-04-04) was 6.24% and one month ago for the week of 2025-03-07, the average rate was 6.33%.

The average rate one year ago was 6.63%.

For refis of the same type during the week of 2025-04-11, the average rate was 7.52%.

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%) 0.00 745
Buffalo's median listing price for 2025-03-01 was $260,000, a difference of $-9,980 (-3.7%) versus the prior year and $10,026 versus the prior month.

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

Buffalo's average listing price for 2025-03-01 was $395,994, a difference of $18,118 (4.8%) versus the prior year and $20,615 versus the prior month.

For the 2025-03-01 period, Buffalo had 745 MLS listings, a difference of -150 listings (-17%) versus the prior month and -16 listings (-2%) 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 0 days 1,544 sqft
Buffalo'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.

Buffalo's median square footage for active listings during the 2025-03-01 period was 1,544 sqft. One year prior, the average listing was 1,603 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.