Nassau County VA Loans

NASSAU COUNTY-SUFFOLK COUNTY, 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 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.

Nassau County's 91 lenders originated 2,161 VA loans during 2021. The total origination value was $957,665,000, with an average VA loan value of $443,158.

Nassau County VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Nassau County averaged 4.55% for the week of 2022-03-25, compared to the national average (all VA variants) of 4.399% for the same period.

The average rate for the prior week (2022-03-18) was 4.53% and one month ago for the week of 2022-02-18, the average rate was 4.15%.

The average rate one year ago was 3.02%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.75%.

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

Nassau County VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Nassau County level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 395 2.47% $8,014
FREEDOM MORTGAGE CORPORATION 172 2.68% $7,627
Mortgage Research Center, LLC 100 2.78% $12,580
NAVY FEDERAL CREDIT UNION 96 2.50% $9,390
LOANDEPOT.COM, LLC 96 2.45% $9,078
The Federal Savings Bank 82 2.65% $11,792
UNITED WHOLESALE MORTGAGE, LLC 69 2.57% $10,096
CONTOUR MORTGAGE CORPORATION 59 2.82% $11,158
Mr. Cooper ( Nationstar Mortgage ) 59 2.63% $4,420
USAA Federal Savings Bank 49 2.89% $8,704
CALIBER HOME LOANS, INC. 46 2.60% $8,160
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 45 2.83% $15,862
CROSSCOUNTRY MORTGAGE, LLC 44 2.94% $15,841
NATIONWIDE MORTGAGE BANKERS, INC. 39 2.99% $16,182
Barrington Bank & Trust Company, N.A. 36 2.83% $9,473
NEWREZ LLC 28 2.70% $9,961
EMBRACE HOME LOANS, INC. 26 2.45% $7,776
PENTAGON FEDERAL CREDIT UNION 26 2.29% $5,854
Wells Fargo Bank 22 2.59% $10,176
UNITED MORTGAGE CORP. 22 2.82% $10,821
HOME POINT FINANCIAL CORPORATION 20 2.66% $10,658
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 20 2.75% $11,957
ROUNDPOINT MORTGAGE SERVICING CORPORATION 20 2.87% $13,169
Citizens Bank 19 2.41% $9,979
HOMEBRIDGE FINANCIAL SERVICES, INC. 19 2.72% $13,141
MID-ISLAND MORTGAGE CORP. 18 2.72% $10,164
FINANCE OF AMERICA MORTGAGE LLC 18 2.62% $12,178
East Coast Capital Corp. 15 2.78% $11,534
Flagstar Bank, FSB 14 2.74% $9,104
PLAZA HOME MORTGAGE, INC. 14 2.69% $11,382
NBKC BANK 13 2.51% $8,349
CLIFFCO, INC. 12 3.13% $14,599
GUARANTEED RATE, INC. 12 2.55% $9,785
First Federal Bank 11 3.17% $18,796
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 2.80% $11,795
Carrington Mortgage Services, LLC 10 3.21% $8,497
North American Savings Bank, F.S.B. 10 2.41% $7,020
InterContinental Capital Group, Inc 10 2.69% $11,438
UNITED NORTHERN MORTGAGE BANKERS LIMITED 10 2.93% $8,467
RELIANCE FIRST CAPITAL, LLC 9 2.89% $15,568
NJ LENDERS CORP. 9 2.82% $13,665
FAMILY FIRST FUNDING LLC 9 2.94% $11,443
PNC Bank 9 2.72% $11,530
BNC National Bank 7 2.36% $5,092
First Savings Bank 7 2.63% $12,551
MOVEMENT MORTGAGE, LLC 6 2.83% $13,707
AMERICAN FINANCIAL NETWORK, INC. 5 2.53% $20,882
Manufacturers and Traders Trust Company 5 2.80% $7,562
Bethpage Federal Credit Union 5 2.93% $13,470
Valley National Bank 5 2.88% $16,539
HARTFORD FUNDING, LTD. 5 3.13% $24,440
EQUITY NOW INC. 4 2.84% $9,293
US MORTGAGE CORPORATION 4 3.13% $14,886
RESIDENTIAL HOME FUNDING CORP. 4 2.63% $6,932
U.S. Bank 3 2.71% $4,990
AMERICAN FINANCING CORPORATION 3 2.67% $13,515
SUN WEST MORTGAGE COMPANY, INC. 3 2.71% $7,380
JET DIRECT FUNDING CORP 3 2.67% $16,013
ACADEMY MORTGAGE CORP. 3 2.54% $4,197
First Federal Bank of Kansas City 3 2.25% $9,075
Advisors Mortgage Group, L.L.C. 3 2.67% $8,797
Magnolia Bank 3 2.63% $5,651
ALLIED MORTGAGE GROUP, INC. 2 3.00% $14,743
Paramount Bank 2 2.50% $10,948
Plains Commerce Bank 2 2.75% $17,015
PLANET HOME LENDING, LLC 2 2.31% $4,674
TD Bank 2 3.06% $11,808
JPMorgan Chase Bank 1 2.75% $1,765
VAN DYK MORTGAGE CORPORATION 1 3.25% $6,466
Community First National Bank 1 2.38% $14,494
Equity Prime Mortgage LLC 1 3.25% $16,658
FirstBank 1 2.50% $1,499
Bank of England 1 2.88% $8,050
First Guaranty Mortgage Corporation 1 3.50% $24,438
Bank of America 1 3.00% $15,769
Sierra Pacific Mortgage Company, Inc. 1 2.88% $15,798
SIRVA MORTGAGE, INC. 1 2.50% $30,052
First Home Bank 1 2.63% $8,067
INTERSTATE HOME LOAN CENTER, INC. 1 3.25% $3,700
ASSOCIATED MORTGAGE BANKERS, INC. 1 2.88% $15,652
Truist Bank 1 2.75% $4,301
ARC HOME LLC 1 2.63% $24,157
FM Home Loans, LLC 1 3.00% $4,158
UNITED SECURITY FINANCIAL CORP 1 1.88% $7,118
GREENWAY MORTGAGE FUNDING CORP. 1 2.50% $7,067
INLAND BANK & TRUST 1 2.25% $6,325
GUARANTEED RATE AFFINITY, LLC 1 2.88% $4,501
ENVOY MORTGAGE, LTD 1 3.00% $14,357
EagleBank 1 2.88% $15,530
KeyBank 1 2.75% $12,940
DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $15,628

The top Nassau County VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 395 VA loans originated. Their average total fees are $8,014, which is $387 higher than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee Nassau County VA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($4,420), PENTAGON FEDERAL CREDIT UNION ($5,854), North American Savings Bank, F.S.B. ($7,020), FREEDOM MORTGAGE CORPORATION ($7,627) and EMBRACE HOME LOANS, INC. ($7,776).

The lowest rate Nassau County VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (2.29%), Citizens Bank (2.41%), North American Savings Bank, F.S.B. (2.41%), LOANDEPOT.COM, LLC (2.45%) and EMBRACE HOME LOANS, INC. (2.45%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Nassau County (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 $479,990 (11.9%) $1,120,433 (11.2%) 1.77 57,187
2018-02-01 $499,950 (11.9%) $1,143,135 (8.6%) 1.80 60,843
2018-03-01 $520,000 (13.3%) $1,127,161 (6.0%) 1.80 64,252
2018-04-01 $534,450 (12.5%) $1,117,910 (-0.1%) 1.79 69,662
2018-05-01 $549,000 (11.1%) $1,125,466 (1.1%) 1.83 76,071
2018-06-01 $549,000 (10.9%) $1,100,381 (0.9%) 1.83 79,722
2018-07-01 $549,000 (12.3%) $1,089,758 (2.1%) 1.83 80,369
2018-08-01 $532,450 (11.0%) $1,037,144 (-2.0%) 1.78 79,480
2018-09-01 $535,000 (10.3%) $1,040,837 (-2.6%) 1.79 80,337
2018-10-01 $538,312 (10.2%) $1,047,397 (-1.4%) 1.80 80,917
2018-11-01 $535,000 (10.3%) $1,059,739 (0.1%) 1.79 78,103
2018-12-01 $525,000 (9.4%) $1,060,260 (-0.8%) 1.80 70,729
2019-01-01 $520,000 (8.3%) $1,060,952 (-5.3%) 1.79 65,203
2019-02-01 $528,500 (5.7%) $1,068,687 (-6.5%) 1.77 67,311
2019-03-01 $540,714 (4.0%) $1,081,156 (-4.1%) 1.76 71,501
2019-04-01 $556,500 (4.1%) $1,091,209 (-2.4%) 1.75 76,385
2019-05-01 $569,500 (3.7%) $1,091,152 (-3.1%) 1.76 82,849
2019-06-01 $569,000 (3.6%) $1,083,706 (-1.5%) 1.75 85,761
2019-07-01 $559,500 (1.9%) $1,066,914 (-2.1%) 1.74 84,579
2019-08-01 $553,989 (4.1%) $1,045,028 (0.8%) 1.74 82,599
2019-09-01 $550,461 (2.9%) $1,041,042 (0.0%) 1.75 80,488
2019-10-01 $558,028 (3.7%) $1,070,885 (2.2%) 1.78 80,248
2019-11-01 $550,000 (2.8%) $1,081,547 (2.1%) 1.77 75,510
2019-12-01 $553,528 (5.4%) $1,114,237 (5.1%) 1.85 65,625
2020-01-01 $549,000 (5.6%) $1,113,984 (5.0%) 1.83 59,940
2020-02-01 $559,900 (5.9%) $1,115,474 (4.4%) 1.81 61,312
2020-03-01 $569,450 (5.3%) $1,116,442 (3.3%) 1.78 63,346
2020-04-01 $580,000 (4.2%) $1,187,911 (8.9%) 1.81 61,178
2020-05-01 $579,000 (1.7%) $1,135,762 (4.1%) 1.75 58,452
2020-06-01 $589,500 (3.6%) $1,136,559 (4.9%) 1.72 61,210
2020-07-01 $599,500 (7.2%) $1,149,009 (7.7%) 1.72 64,394
2020-08-01 $635,000 (14.6%) $1,227,096 (17.4%) 1.81 66,679
2020-09-01 $644,450 (17.1%) $1,236,828 (18.8%) 1.84 67,133
2020-10-01 $655,360 (17.4%) $1,300,695 (21.5%) 1.87 68,637
2020-11-01 $649,000 (18.0%) $1,284,039 (18.7%) 1.86 65,676
2020-12-01 $649,450 (17.3%) $1,317,463 (18.2%) 1.90 57,196
2021-01-01 $649,000 (18.2%) $1,356,030 (21.7%) 1.91 49,631
2021-02-01 $649,108 (15.9%) $1,370,351 (22.9%) 1.87 46,629
2021-03-01 $648,500 (13.9%) $1,361,646 (22.0%) 1.82 46,573
2021-04-01 $649,694 (12.0%) $1,374,697 (15.7%) 1.75 48,615
2021-05-01 $649,000 (12.1%) $1,356,538 (19.4%) 1.71 51,469
2021-06-01 $640,060 (8.6%) $1,320,359 (16.2%) 1.66 54,695
2021-07-01 $622,500 (3.8%) $1,276,979 (11.1%) 1.62 55,033
2021-08-01 $627,000 (-1.3%) $1,376,032 (12.1%) 1.65 57,049
2021-09-01 $631,868 (-2.0%) $1,410,300 (14.0%) 1.66 56,921
2021-10-01 $639,000 (-2.5%) $1,439,479 (10.7%) 1.68 57,262
2021-11-01 $655,000 (0.9%) $1,557,436 (21.3%) 1.73 54,263
2021-12-01 $664,000 (2.2%) $1,631,077 (23.8%) 1.77 46,763
2022-01-01 $675,000 (4.0%) $1,713,536 (26.4%) 1.80 40,031
Nassau County's median listing price for 2022-01-01 was $675,000, a difference of $26,000 (4.0%) versus the prior year and $11,000 versus the prior month.

Nassau County's median listing price comes in at 180% of the national average.

Nassau County's average listing price for 2022-01-01 was $1,713,536, a difference of $357,506 (26.4%) versus the prior year and $82,459 versus the prior month.

For the 2022-01-01 period, Nassau County had 40,031 MLS listings, a difference of -6,732 listings (-14%) versus the prior month and -9,600 listings (-19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Nassau County (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 90 days 1,926 sqft
2018-02-01 82 days 1,910 sqft
2018-03-01 58 days 1,900 sqft
2018-04-01 56 days 1,918 sqft
2018-05-01 52 days 1,923 sqft
2018-06-01 53 days 1,944 sqft
2018-07-01 63 days 1,959 sqft
2018-08-01 67 days 1,950 sqft
2018-09-01 71 days 1,932 sqft
2018-10-01 69 days 1,912 sqft
2018-11-01 70 days 1,888 sqft
2018-12-01 82 days 1,872 sqft
2019-01-01 88 days 1,847 sqft
2019-02-01 82 days 1,850 sqft
2019-03-01 57 days 1,887 sqft
2019-04-01 52 days 1,931 sqft
2019-05-01 52 days 1,935 sqft
2019-06-01 57 days 1,964 sqft
2019-07-01 64 days 1,960 sqft
2019-08-01 72 days 1,952 sqft
2019-09-01 71 days 1,932 sqft
2019-10-01 67 days 1,924 sqft
2019-11-01 66 days 1,872 sqft
2019-12-01 84 days 1,854 sqft
2020-01-01 92 days 1,845 sqft
2020-02-01 77 days 1,860 sqft
2020-03-01 56 days 1,881 sqft
2020-04-01 56 days 1,872 sqft
2020-05-01 74 days 1,860 sqft
2020-06-01 77 days 1,888 sqft
2020-07-01 49 days 1,812 sqft
2020-08-01 45 days 1,734 sqft
2020-09-01 50 days 1,690 sqft
2020-10-01 49 days 1,645 sqft
2020-11-01 63 days 1,635 sqft
2020-12-01 75 days 1,588 sqft
2021-01-01 85 days 1,536 sqft
2021-02-01 84 days 1,515 sqft
2021-03-01 60 days 1,510 sqft
2021-04-01 49 days 1,514 sqft
2021-05-01 44 days 1,532 sqft
2021-06-01 45 days 1,550 sqft
2021-07-01 50 days 1,568 sqft
2021-08-01 49 days 1,547 sqft
2021-09-01 49 days 1,528 sqft
2021-10-01 53 days 1,504 sqft
2021-11-01 57 days 1,494 sqft
2021-12-01 68 days 1,449 sqft
2022-01-01 79 days 1,410 sqft
Nassau County's median listing age (time on market) for 2022-01-01 was 79 days. This is -7% shorter than the same period one year ago.

Nassau County's median square footage for active listings during the 2022-01-01 period was 1,410 sqft. One year prior, the average listing was 1,536 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.