Manchester VA Loan Rates, Closing Costs & Stats

MANCHESTER-NASHUA, NH

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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.

    Manchester's 60 lenders originated 359 VA loans during 2023. The total origination value was $160,455,000, with an average VA loan value of $446,950.

    Manchester VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Manchester averaged 6.55% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Manchester's average VA mortgage closing costs are $6,560.

    The average rate for the prior week (2024-11-01) was 6.41% and one month ago for the week of 2024-10-04, the average rate was 5.74%.

    The average rate one year ago was 7.79%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.92%.

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

    Manchester 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 Manchester level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 57 6.81% $9,412
    CMG MORTGAGE, INC. 28 6.44% $11,031
    QUICKEN LOANS, LLC 20 5.91% $16,875
    NAVY FEDERAL CREDIT UNION 18 6.19% $7,498
    UNITED WHOLESALE MORTGAGE, LLC 18 6.62% $9,028
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.83% $7,841
    CROSSCOUNTRY MORTGAGE, LLC 13 6.42% $11,036
    GUILD MORTGAGE COMPANY 11 6.47% $9,553
    LOANDEPOT.COM, LLC 11 6.01% $15,835
    USAA Federal Savings Bank 11 6.48% $5,524
    The Federal Savings Bank 10 6.18% $21,209
    FREEDOM MORTGAGE CORPORATION 10 6.38% $28,654
    MOVEMENT MORTGAGE, LLC 8 6.23% $8,433
    NEW DAY FINANCIAL, LLC 7 7.34% $13,854
    PENNYMAC LOAN SERVICES, LLC 7 5.64% $15,469
    GUARANTEED RATE, INC. 7 6.08% $5,958
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.54% $8,816
    American Mortgage & Equity Consultants, Inc. 5 6.80% $22,407
    HARBORONE MORTGAGE, LLC 5 6.25% $9,324
    Mr. Cooper ( Nationstar Mortgage ) 5 5.75% $16,966
    NEWREZ LLC 4 6.63% $11,015
    MORTGAGE EQUITY PARTNERS LLC 4 6.78% $14,536
    LAKEVIEW LOAN SERVICING, LLC 4 5.47% $15,013
    NORTHPOINT MORTGAGE, INC. 3 6.63% $4,225
    BAY EQUITY LLC 3 6.83% $4,329
    EMM LOANS LLC 3 6.29% $11,281
    PENTAGON FEDERAL CREDIT UNION 3 6.13% $8,394
    Barrington Bank & Trust Company, N.A. 3 5.92% $21,659
    TOTAL MORTGAGE SERVICES, LLC 3 6.96% $10,927
    NORWICH COMMERCIAL GROUP, INC. 2 6.75% $8,365
    BROKER SOLUTIONS, INC. 2 7.00% $11,774
    NBKC BANK 2 6.06% $13,543
    Waterstone Mortgage Corporation 2 6.31% $19,051
    AMERISAVE MORTGAGE CORPORATION 2 6.00% $12,394
    LEADERONE FINANCIAL CORPORATION 2 6.31% $12,309
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $19,255
    ENVOY MORTGAGE, LTD 2 6.94% $7,125
    Wells Fargo Bank 1 5.50% $9,761
    AMERICAN FINANCING CORPORATION 1 7.38% $22,085
    Bank of England 1 7.13% $475
    Citizens Bank 1 5.88% $11,318
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.99% $19,245
    Equity Prime Mortgage LLC 1 5.88% $19,447
    Evolve Bank & Trust 1 6.50% $4,269
    First Federal Bank 1 6.50% $1,857
    GUARANTEED RATE AFFINITY, LLC 1 6.08% $0
    HANSCOM 1 5.75% $3,200
    HOMESTEAD FUNDING CORP. 1 6.75% $2,832
    JPMorgan Chase Bank 1 6.63% $2,466
    Magnolia Bank 1 5.88% $27,392
    M&T Bank 1 7.13% $3,632
    OCMBC, INC. 1 6.75% $8,001
    ON Q FINANCIAL, INC. 1 6.63% $12,622
    Plains Commerce Bank 1 6.63% $17,458
    RADIUS FINANCIAL GROUP INC. 1 7.13% $12,944
    RELIANCE FIRST CAPITAL, LLC 1 5.88% $17,107
    SALEM FIVE MORTGAGE COMPANY, LLC 1 7.00% $17,724
    TD Bank 1 6.63% $2,916
    U.S. Bank 1 4.99% $70
    ACADEMY MORTGAGE CORPORATION 1 7.13% $8,578

    The top Manchester VA lender as defined by loan originations is Mortgage Research Center, LLC, with 57 VA loans originated. Their average total fees are $9,412, which is $1,618 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Manchester VA lenders (with over 10 loans originated) are USAA Federal Savings Bank ($5,524), NAVY FEDERAL CREDIT UNION ($7,498), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,841), UNITED WHOLESALE MORTGAGE, LLC ($9,028) and Mortgage Research Center, LLC ($9,412).

    The lowest rate Manchester VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.91%), LOANDEPOT.COM, LLC (6.01%), The Federal Savings Bank (6.18%), NAVY FEDERAL CREDIT UNION (6.19%) and FREEDOM MORTGAGE CORPORATION (6.38%).

    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.