New Haven VA Loan Rates, Closing Costs & Stats

NEW HAVEN-MILFORD, CT

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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.

    New Haven's 72 lenders originated 568 VA loans during 2022. The total origination value was $176,950,000, with an average VA loan value of $311,532.

    New Haven VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Haven averaged 6.28% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    New Haven's average VA mortgage closing costs are $6,310.

    The average rate for the prior week (2023-05-19) was 5.9% and one month ago for the week of 2023-04-21, the average rate was 5.82%.

    The average rate one year ago was 5.09%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.23%.

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

    New Haven 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 New Haven level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 132 4.91% $8,220
    QUICKEN LOANS, LLC 63 4.05% $11,670
    NAVY FEDERAL CREDIT UNION 25 3.74% $6,673
    FREEDOM MORTGAGE CORPORATION 20 4.50% $9,876
    PENNYMAC LOAN SERVICES, LLC 17 3.46% $9,870
    TOTAL MORTGAGE SERVICES, LLC 16 4.60% $11,470
    UNITED WHOLESALE MORTGAGE, LLC 16 4.68% $9,502
    LOANDEPOT.COM, LLC 16 4.04% $10,682
    GUARANTEED RATE, INC. 16 4.65% $9,017
    USAA Federal Savings Bank 15 4.33% $12,073
    NEW DAY FINANCIAL, LLC 14 5.28% $14,286
    CALIBER HOME LOANS, INC. 13 4.65% $9,546
    The Federal Savings Bank 12 4.22% $13,980
    HOMEBRIDGE FINANCIAL SERVICES, INC. 10 4.75% $8,011
    Citizens Bank 9 4.76% $10,744
    GUARANTEED RATE AFFINITY, LLC 9 4.29% $8,881
    MOVEMENT MORTGAGE, LLC 9 4.64% $4,233
    Mr. Cooper ( Nationstar Mortgage ) 9 4.71% $13,513
    PLAZA HOME MORTGAGE, INC. 8 5.36% $9,961
    CROSSCOUNTRY MORTGAGE, LLC 8 5.50% $14,018
    Barrington Bank & Trust Company, N.A. 7 5.05% $14,048
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.23% $5,054
    Prosperity Home Mortgage, LLC 6 5.04% $5,791
    NORWICH COMMERCIAL GROUP, INC. 6 5.21% $6,823
    AMERISAVE MORTGAGE CORPORATION 5 4.33% $10,861
    Flagstar Bank, FSB 4 4.09% $14,153
    Wyndham Capital Mortgage, Inc. 3 2.67% $8,567
    NEWREZ LLC 3 5.67% $11,659
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.75% $8,247
    Bank of England 3 3.21% $9,869
    HOME POINT FINANCIAL CORPORATION 3 3.33% $5,561
    Carrington Mortgage Services, LLC 3 5.21% $8,195
    MUTUAL OF OMAHA MORTGAGE, INC. 3 4.63% $5,560
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.04% $14,501
    FIRST WORLD MORTGAGE CORPORATION 2 5.63% $16,962
    Equity Prime Mortgage LLC 2 4.19% $6,066
    BROKER SOLUTIONS, INC. 2 6.38% $9,438
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 4.50% $14,299
    PLANET HOME LENDING, LLC 2 3.63% $9,823
    NBKC BANK 2 4.75% $3,489
    SUN WEST MORTGAGE COMPANY, INC. 2 4.50% $8,960
    NBH Bank 1 4.37% $42,938
    Armed Forces Bank 1 3.88% $8,776
    BAY EQUITY LLC 1 4.99% $14,354
    Capital Bank 1 2.50% $12,151
    CARDINAL FINANCIAL 1 4.25% $25,053
    CONTOUR MORTGAGE CORPORATION 1 6.75% $40,771
    EMBRACE HOME LOANS, INC. 1 5.75% $13,878
    Evolve Bank & Trust 1 5.13% $3,940
    First Federal Bank 1 4.00% $19,019
    First Home Bank 1 5.75% $7,936
    GUILD MORTGAGE COMPANY 1 2.63% $5,186
    JPMorgan Chase Bank 1 2.75% $18,100
    Lakeview Community Capital, LLC 1 4.75% $6,299
    LAKEVIEW LOAN SERVICING, LLC 1 3.63% $1,038
    LOANPAL, LLC 1 4.25% $8,563
    Magnolia Bank 1 3.25% $9,631
    Meridian Bank Corporation 1 4.88% $10,162
    Mortgage Network, Inc. 1 6.75% $7,875
    M&T Bank 1 5.00% $9,556
    NATIONS DIRECT MORTGAGE, LLC 1 5.99% $9,796
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $12,322
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $4,510
    Northpointe Bank 1 4.63% $2,487
    Paramount Residential Mortgage Group, Inc. 1 5.13% $10,432
    PENTAGON FEDERAL CREDIT UNION 1 4.50% $9,957
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.99% $7,007
    Strong Home Mortgage, LLC 1 2.63% $6,323
    Texana Bank 1 3.75% $8,043
    VILLAGE CAPITAL MORTGAGE 1 4.75% $30,180
    Watermark Capital, Inc. 1 2.75% $13,626
    West Town Bank & Trust 1 4.63% $25,899

    The top New Haven VA lender as defined by loan originations is Mortgage Research Center, LLC, with 132 VA loans originated. Their average total fees are $8,220, which is $3,450 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee New Haven VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($6,673), HOMEBRIDGE FINANCIAL SERVICES, INC. ($8,011), Mortgage Research Center, LLC ($8,220), GUARANTEED RATE, INC. ($9,017) and UNITED WHOLESALE MORTGAGE, LLC ($9,502).

    The lowest rate New Haven VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.46%), NAVY FEDERAL CREDIT UNION (3.74%), LOANDEPOT.COM, LLC (4.04%), QUICKEN LOANS, LLC (4.05%) and The Federal Savings Bank (4.22%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New Haven (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 $261,475 (4.8%) $397,044 (8.9%) 0.97 2,823
    2018-02-01 $267,400 (7.0%) $408,705 (10.9%) 0.97 2,761
    2018-03-01 $279,000 (6.3%) $417,339 (12.5%) 0.98 2,890
    2018-04-01 $285,000 (5.6%) $408,523 (7.3%) 0.97 3,016
    2018-05-01 $296,950 (8.0%) $394,701 (1.5%) 0.99 3,248
    2018-06-01 $294,950 (5.9%) $390,762 (-3.0%) 0.98 3,404
    2018-07-01 $289,948 (3.9%) $397,522 (-0.9%) 0.97 3,530
    2018-08-01 $289,700 (5.2%) $382,154 (-4.1%) 0.97 3,604
    2018-09-01 $289,500 (7.2%) $385,236 (-2.9%) 0.97 3,613
    2018-10-01 $284,800 (5.5%) $384,146 (-2.6%) 0.96 3,528
    2018-11-01 $274,975 (3.2%) $375,705 (-3.9%) 0.93 3,355
    2018-12-01 $269,900 (2.2%) $370,370 (-5.1%) 0.93 3,029
    2019-01-01 $269,900 (3.2%) $371,680 (-6.4%) 0.93 2,716
    2019-02-01 $274,700 (2.7%) $377,129 (-7.7%) 0.93 2,670
    2019-03-01 $289,900 (3.9%) $392,796 (-5.9%) 0.97 2,701
    2019-04-01 $299,450 (5.1%) $397,857 (-2.6%) 0.95 2,863
    2019-05-01 $293,224 (-1.3%) $393,000 (-0.4%) 0.92 3,024
    2019-06-01 $294,995 (0.0%) $390,448 (-0.1%) 0.92 3,182
    2019-07-01 $292,450 (0.9%) $388,756 (-2.2%) 0.92 3,207
    2019-08-01 $285,000 (-1.6%) $381,646 (-0.1%) 0.89 3,242
    2019-09-01 $279,450 (-3.5%) $379,123 (-1.6%) 0.88 2,986
    2019-10-01 $275,000 (-3.4%) $372,510 (-3.0%) 0.89 3,028
    2019-11-01 $274,900 (0.0%) $367,636 (-2.2%) 0.90 2,773
    2019-12-01 $270,950 (0.4%) $367,962 (-0.7%) 0.90 2,408
    2020-01-01 $269,925 (0.0%) $368,568 (-0.8%) 0.90 2,123
    2020-02-01 $275,000 (0.1%) $377,743 (0.2%) 0.90 2,040
    2020-03-01 $289,950 (0.0%) $390,744 (-0.5%) 0.91 2,102
    2020-04-01 $289,900 (-3.2%) $396,727 (-0.3%) 0.91 2,052
    2020-05-01 $299,900 (2.3%) $406,164 (3.4%) 0.91 1,908
    2020-06-01 $317,450 (7.6%) $432,757 (10.8%) 0.94 1,666
    2020-07-01 $326,950 (11.8%) $448,513 (15.4%) 0.95 1,591
    2020-08-01 $320,000 (12.3%) $453,950 (19.0%) 0.92 1,559
    2020-09-01 $308,500 (10.4%) $450,543 (18.8%) 0.88 1,594
    2020-10-01 $310,000 (12.7%) $449,549 (20.7%) 0.89 1,548
    2020-11-01 $309,450 (12.6%) $447,767 (21.8%) 0.90 1,453
    2020-12-01 $300,000 (10.7%) $454,473 (23.5%) 0.89 1,268
    2021-01-01 $310,000 (14.9%) $468,117 (27.0%) 0.93 1,019
    2021-02-01 $317,975 (15.6%) $472,862 (25.2%) 0.92 835
    2021-03-01 $324,900 (12.1%) $491,572 (25.8%) 0.92 814
    2021-04-01 $333,250 (15.0%) $516,992 (30.3%) 0.90 845
    2021-05-01 $340,000 (13.4%) $512,193 (26.1%) 0.90 956
    2021-06-01 $337,400 (6.3%) $507,267 (17.2%) 0.89 1,132
    2021-07-01 $335,000 (2.5%) $508,451 (13.4%) 0.88 1,290
    2021-08-01 $329,575 (3.0%) $486,132 (7.1%) 0.88 1,415
    2021-09-01 $324,950 (5.3%) $478,572 (6.2%) 0.87 1,421
    2021-10-01 $329,000 (6.1%) $484,266 (7.7%) 0.88 1,361
    2021-11-01 $329,900 (6.6%) $481,309 (7.5%) 0.88 1,102
    2021-12-01 $321,000 (7.0%) $471,258 (3.7%) 0.87 920
    2022-01-01 $329,900 (6.4%) $486,516 (3.9%) 0.89 732
    2022-02-01 $344,450 (8.3%) $508,974 (7.6%) 0.90 625
    2022-03-01 $350,000 (7.7%) $513,833 (4.5%) 0.88 626
    2022-04-01 $351,000 (5.3%) $520,885 (0.8%) 0.84 749
    2022-05-01 $357,450 (5.1%) $506,099 (-1.2%) 0.82 882
    2022-06-01 $361,000 (7.0%) $502,853 (-0.9%) 0.80 1,014
    2022-07-01 $358,000 (6.9%) $494,812 (-2.7%) 0.81 1,153
    2022-08-01 $360,950 (9.5%) $488,184 (0.4%) 0.83 1,136
    2022-09-01 $353,228 (8.7%) $497,775 (4.0%) 0.83 1,137
    2022-10-01 $350,000 (6.4%) $497,744 (2.8%) 0.82 1,180
    2022-11-01 $349,950 (6.1%) $490,084 (1.8%) 0.84 1,165
    2022-12-01 $349,900 (9.0%) $489,391 (3.9%) 0.86 977
    2023-01-01 $372,450 (12.9%) $493,418 (1.4%) 0.92 800
    2023-02-01 $387,000 (12.4%) $515,822 (1.4%) 0.93 712
    2023-03-01 $399,000 (14.0%) $542,237 (5.5%) 0.94 698
    2023-04-01 $399,950 (14.0%) $549,293 (5.5%) 0.93 716
    New Haven's median listing price for 2023-04-01 was $399,950, a difference of $48,950 (14.0%) versus the prior year and $950 versus the prior month.

    New Haven's median listing price comes in at 93% of the national average.

    New Haven's average listing price for 2023-04-01 was $549,293, a difference of $28,408 (5.5%) versus the prior year and $7,056 versus the prior month.

    For the 2023-04-01 period, New Haven had 716 MLS listings, a difference of 18 listings (3%) versus the prior month and -33 listings (-4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New Haven (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,600 sqft
    2018-02-01 99 days 1,618 sqft
    2018-03-01 70 days 1,657 sqft
    2018-04-01 58 days 1,707 sqft
    2018-05-01 54 days 1,730 sqft
    2018-06-01 57 days 1,716 sqft
    2018-07-01 65 days 1,703 sqft
    2018-08-01 68 days 1,682 sqft
    2018-09-01 72 days 1,692 sqft
    2018-10-01 79 days 1,682 sqft
    2018-11-01 83 days 1,645 sqft
    2018-12-01 95 days 1,626 sqft
    2019-01-01 102 days 1,609 sqft
    2019-02-01 96 days 1,618 sqft
    2019-03-01 68 days 1,668 sqft
    2019-04-01 53 days 1,712 sqft
    2019-05-01 51 days 1,747 sqft
    2019-06-01 54 days 1,848 sqft
    2019-07-01 62 days 1,845 sqft
    2019-08-01 73 days 1,830 sqft
    2019-09-01 80 days 1,825 sqft
    2019-10-01 75 days 1,807 sqft
    2019-11-01 75 days 1,800 sqft
    2019-12-01 86 days 1,777 sqft
    2020-01-01 93 days 1,759 sqft
    2020-02-01 84 days 1,780 sqft
    2020-03-01 53 days 1,800 sqft
    2020-04-01 60 days 1,782 sqft
    2020-05-01 73 days 1,817 sqft
    2020-06-01 57 days 1,854 sqft
    2020-07-01 43 days 1,868 sqft
    2020-08-01 41 days 1,862 sqft
    2020-09-01 42 days 1,823 sqft
    2020-10-01 43 days 1,817 sqft
    2020-11-01 47 days 1,783 sqft
    2020-12-01 55 days 1,771 sqft
    2021-01-01 68 days 1,752 sqft
    2021-02-01 59 days 1,735 sqft
    2021-03-01 25 days 1,728 sqft
    2021-04-01 26 days 1,793 sqft
    2021-05-01 23 days 1,792 sqft
    2021-06-01 23 days 1,757 sqft
    2021-07-01 29 days 1,729 sqft
    2021-08-01 32 days 1,601 sqft
    2021-09-01 38 days 1,578 sqft
    2021-10-01 44 days 1,605 sqft
    2021-11-01 50 days 1,580 sqft
    2021-12-01 57 days 1,570 sqft
    2022-01-01 64 days 1,592 sqft
    2022-02-01 36 days 1,588 sqft
    2022-03-01 21 days 1,607 sqft
    2022-04-01 17 days 1,581 sqft
    2022-05-01 18 days 1,594 sqft
    2022-06-01 22 days 1,604 sqft
    2022-07-01 27 days 1,608 sqft
    2022-08-01 33 days 1,789 sqft
    2022-09-01 38 days 1,803 sqft
    2022-10-01 36 days 1,803 sqft
    2022-11-01 45 days 1,796 sqft
    2022-12-01 56 days 1,776 sqft
    2023-01-01 65 days 1,761 sqft
    2023-02-01 44 days 1,758 sqft
    2023-03-01 33 days 1,854 sqft
    2023-04-01 31 days 1,803 sqft
    New Haven's median listing age (time on market) for 2023-04-01 was 31 days. This is 88% longer than the same period one year ago.

    New Haven's median square footage for active listings during the 2023-04-01 period was 1,803 sqft. One year prior, the average listing was 1,581 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.