New Haven VA Loan Rates, Closing Costs & Stats

NEW HAVEN-MILFORD, CT

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 6.33% for the week of 2024-02-16, compared to the national average (all VA variants) of 6.462% for the same period.

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

The average rate for the prior week (2024-02-09) was 6.29% and one month ago for the week of 2024-01-12, the average rate was 6.15%.

The average rate one year ago was 5.61%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.38%.

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%) $408,581 (7.4%) 0.97 3,015
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%) $397,484 (-0.9%) 0.97 3,532
2018-08-01 $289,450 (5.2%) $382,062 (-4.1%) 0.97 3,606
2018-09-01 $289,250 (7.1%) $385,202 (-2.9%) 0.97 3,614
2018-10-01 $284,600 (5.5%) $384,082 (-2.6%) 0.96 3,529
2018-11-01 $274,950 (3.1%) $375,607 (-3.9%) 0.93 3,357
2018-12-01 $269,900 (2.2%) $370,262 (-5.1%) 0.93 3,031
2019-01-01 $269,900 (3.2%) $371,605 (-6.4%) 0.93 2,718
2019-02-01 $274,575 (2.7%) $377,083 (-7.7%) 0.93 2,670
2019-03-01 $287,571 (3.1%) $388,244 (-7.0%) 0.94 2,767
2019-04-01 $299,450 (5.1%) $397,737 (-2.7%) 0.95 2,868
2019-05-01 $293,200 (-1.3%) $392,957 (-0.4%) 0.92 3,025
2019-06-01 $294,995 (0.0%) $390,408 (-0.1%) 0.92 3,183
2019-07-01 $292,450 (0.9%) $388,653 (-2.2%) 0.92 3,209
2019-08-01 $285,836 (-1.3%) $381,791 (-0.1%) 0.91 3,177
2019-09-01 $279,741 (-3.3%) $376,043 (-2.4%) 0.90 3,102
2019-10-01 $275,000 (-3.4%) $372,211 (-3.1%) 0.89 3,029
2019-11-01 $274,900 (0.0%) $367,566 (-2.1%) 0.90 2,774
2019-12-01 $269,950 (0.0%) $367,883 (-0.6%) 0.90 2,409
2020-01-01 $269,800 (0.0%) $368,480 (-0.8%) 0.90 2,124
2020-02-01 $275,000 (0.2%) $377,644 (0.2%) 0.90 2,040
2020-03-01 $289,925 (0.8%) $390,744 (0.6%) 0.91 2,101
2020-04-01 $289,900 (-3.2%) $396,729 (-0.3%) 0.91 2,051
2020-05-01 $299,900 (2.3%) $406,170 (3.4%) 0.91 1,907
2020-06-01 $317,425 (7.6%) $432,780 (10.9%) 0.94 1,665
2020-07-01 $326,950 (11.8%) $448,530 (15.4%) 0.95 1,590
2020-08-01 $320,000 (12.0%) $453,950 (18.9%) 0.92 1,559
2020-09-01 $308,500 (10.3%) $450,552 (19.8%) 0.88 1,594
2020-10-01 $310,000 (12.7%) $449,585 (20.8%) 0.89 1,547
2020-11-01 $309,450 (12.6%) $447,767 (21.8%) 0.90 1,453
2020-12-01 $300,000 (11.1%) $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%) 0.93 835
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%) $508,770 (7.6%) 0.90 626
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%) $497,818 (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 $399,225 (14.1%) $542,586 (5.6%) 0.94 698
2023-04-01 $399,950 (14.0%) $549,293 (5.5%) 0.93 716
2023-05-01 $431,150 (20.6%) $556,902 (10.0%) 0.98 786
2023-06-01 $424,850 (17.7%) $578,734 (15.1%) 0.95 811
2023-07-01 $415,000 (15.9%) $604,994 (22.3%) 0.94 807
2023-08-01 $394,500 (9.3%) $572,667 (17.3%) 0.91 817
2023-09-01 $399,900 (13.2%) $560,729 (12.6%) 0.93 902
2023-10-01 $399,900 (14.3%) $570,346 (14.6%) 0.94 935
2023-11-01 $399,450 (14.2%) $561,029 (14.5%) 0.95 910
2023-12-01 $399,000 (14.0%) $560,476 (14.5%) 0.97 796
New Haven's median listing price for 2023-12-01 was $399,000, a difference of $49,100 (14.0%) versus the prior year and $-450 versus the prior month.

New Haven's median listing price comes in at 97% of the national average.

New Haven's average listing price for 2023-12-01 was $560,476, a difference of $71,085 (14.5%) versus the prior year and $-553 versus the prior month.

For the 2023-12-01 period, New Haven had 796 MLS listings, a difference of -114 listings (-13%) versus the prior month and -181 listings (-19%) 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 93 days 1,601 sqft
2018-02-01 91 days 1,616 sqft
2018-03-01 60 days 1,658 sqft
2018-04-01 52 days 1,708 sqft
2018-05-01 50 days 1,729 sqft
2018-06-01 52 days 1,716 sqft
2018-07-01 59 days 1,702 sqft
2018-08-01 64 days 1,682 sqft
2018-09-01 67 days 1,692 sqft
2018-10-01 74 days 1,682 sqft
2018-11-01 77 days 1,645 sqft
2018-12-01 87 days 1,626 sqft
2019-01-01 93 days 1,608 sqft
2019-02-01 88 days 1,617 sqft
2019-03-01 68 days 1,661 sqft
2019-04-01 49 days 1,712 sqft
2019-05-01 47 days 1,747 sqft
2019-06-01 51 days 1,848 sqft
2019-07-01 58 days 1,844 sqft
2019-08-01 63 days 1,830 sqft
2019-09-01 66 days 1,814 sqft
2019-10-01 70 days 1,805 sqft
2019-11-01 72 days 1,800 sqft
2019-12-01 82 days 1,777 sqft
2020-01-01 87 days 1,759 sqft
2020-02-01 76 days 1,783 sqft
2020-03-01 49 days 1,800 sqft
2020-04-01 56 days 1,781 sqft
2020-05-01 70 days 1,816 sqft
2020-06-01 51 days 1,854 sqft
2020-07-01 39 days 1,868 sqft
2020-08-01 38 days 1,862 sqft
2020-09-01 39 days 1,822 sqft
2020-10-01 40 days 1,814 sqft
2020-11-01 45 days 1,783 sqft
2020-12-01 53 days 1,771 sqft
2021-01-01 64 days 1,752 sqft
2021-02-01 50 days 1,735 sqft
2021-03-01 24 days 1,728 sqft
2021-04-01 25 days 1,793 sqft
2021-05-01 22 days 1,792 sqft
2021-06-01 23 days 1,757 sqft
2021-07-01 28 days 1,729 sqft
2021-08-01 31 days 1,601 sqft
2021-09-01 37 days 1,578 sqft
2021-10-01 43 days 1,605 sqft
2021-11-01 47 days 1,580 sqft
2021-12-01 55 days 1,570 sqft
2022-01-01 60 days 1,592 sqft
2022-02-01 34 days 1,588 sqft
2022-03-01 20 days 1,607 sqft
2022-04-01 16 days 1,581 sqft
2022-05-01 17 days 1,594 sqft
2022-06-01 21 days 1,604 sqft
2022-07-01 26 days 1,608 sqft
2022-08-01 32 days 1,789 sqft
2022-09-01 38 days 1,804 sqft
2022-10-01 36 days 1,803 sqft
2022-11-01 44 days 1,796 sqft
2022-12-01 53 days 1,776 sqft
2023-01-01 63 days 1,761 sqft
2023-02-01 40 days 1,758 sqft
2023-03-01 31 days 1,855 sqft
2023-04-01 30 days 1,803 sqft
2023-05-01 24 days 1,874 sqft
2023-06-01 25 days 1,830 sqft
2023-07-01 29 days 1,805 sqft
2023-08-01 39 days 1,740 sqft
2023-09-01 37 days 1,786 sqft
2023-10-01 40 days 1,802 sqft
2023-11-01 46 days 1,800 sqft
2023-12-01 53 days 1,799 sqft
New Haven's median listing age (time on market) for 2023-12-01 was 53 days. This is 0% longer than the same period one year ago.

New Haven's median square footage for active listings during the 2023-12-01 period was 1,799 sqft. One year prior, the average listing was 1,776 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.