Buffalo VA Loan Rates, Closing Costs & Stats

BUFFALO-CHEEKTOWAGA, NY

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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 0.51% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

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

    The average rate for the prior week (2025-06-13) was 6.66% and one month ago for the week of 2025-05-16, the average rate was 7.02%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.92%.

    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%).

    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.