New Haven VA Loans

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 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 113 lenders originated 1,274 VA loans during 2021. The total origination value was $356,930,000, with an average VA loan value of $280,165.

New Haven VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in New Haven averaged 5.62% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.55% and one month ago for the week of 2022-04-08, the average rate was 5.17%.

The average rate one year ago was 3.19%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.37%.

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 and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Haven level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Mortgage Research Center, LLC 183 2.85% $5,770
QUICKEN LOANS, LLC 137 2.50% $4,032
FREEDOM MORTGAGE CORPORATION 68 2.53% $3,752
NAVY FEDERAL CREDIT UNION 64 2.46% $6,968
USAA Federal Savings Bank 44 2.77% $6,891
PENNYMAC LOAN SERVICES, LLC 43 2.40% $5,284
NEW DAY FINANCIAL, LLC 30 2.76% $7,433
Citizens Bank 24 2.60% $7,793
GUARANTEED RATE, INC. 24 2.66% $4,234
LOANDEPOT.COM, LLC 24 2.59% $3,377
TOTAL MORTGAGE SERVICES, LLC 20 3.24% $9,531
UNITED WHOLESALE MORTGAGE, LLC 19 2.54% $7,324
HOME POINT FINANCIAL CORPORATION 18 2.49% $6,502
HOMEBRIDGE FINANCIAL SERVICES, INC. 17 2.85% $11,346
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 2.84% $6,649
NEWREZ LLC 15 2.67% $5,143
LAKEVIEW LOAN SERVICING, LLC 14 2.54% $3,147
The Federal Savings Bank 13 2.65% $7,150
Barrington Bank & Trust Company, N.A. 13 2.75% $7,052
CALIBER HOME LOANS, INC. 12 2.54% $3,829
Wells Fargo Bank 12 2.56% $5,661
Mr. Cooper ( Nationstar Mortgage ) 12 2.76% $3,958
Carrington Mortgage Services, LLC 12 2.79% $6,491
ACCELERATE MORTGAGE, LLC 12 2.51% $8,187
PENTAGON FEDERAL CREDIT UNION 12 2.34% $2,012
VILLAGE CAPITAL & INVESTMENT LLC 11 2.34% $2,723
GUARANTEED RATE AFFINITY, LLC 10 2.90% $5,724
Low VA Rates, LLC 10 2.33% $4,770
Prosperity Home Mortgage, LLC 9 2.67% $10,496
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.01% $4,027
PLAZA HOME MORTGAGE, INC. 9 3.00% $4,912
CROSSCOUNTRY MORTGAGE, LLC 9 2.78% $8,120
FIRST WORLD MORTGAGE CORPORATION 8 3.22% $9,193
NORWICH COMMERCIAL GROUP, INC. 8 2.89% $8,624
Lakeview Community Capital, LLC 7 2.50% $1,989
NBKC BANK 6 2.44% $5,846
MUTUAL OF OMAHA MORTGAGE, INC. 6 2.79% $6,828
BROKER SOLUTIONS, INC. 6 2.71% $4,861
EQUITY RESOURCES, INC. 5 2.68% $8,388
SUN WEST MORTGAGE COMPANY, INC. 5 2.50% $7,884
MOVEMENT MORTGAGE, LLC 4 2.91% $6,427
Flagstar Bank, FSB 4 2.71% $9,138
AMERICAN FINANCIAL NETWORK, INC. 4 3.06% $10,795
Atlantic Home Loans, Inc. 4 3.09% $3,676
AMERISAVE MORTGAGE CORPORATION 4 2.69% $5,606
PROVINCE MORTGAGE ASSOCIATES, INC. 4 3.09% $7,060
PLANET HOME LENDING, LLC 3 2.63% $1,452
AmeriHome Mortgage Company, LLC 3 2.63% $2,054
BNC National Bank 3 2.25% $5,178
CONTOUR MORTGAGE CORPORATION 3 2.33% $4,985
First Guaranty Mortgage Corporation 3 2.33% $4,561
Liberty Bank 3 2.96% $9,911
North American Savings Bank, F.S.B. 3 2.63% $6,279
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.29% $11,444
PANORAMA MORTGAGE GROUP, LLC 2 3.38% $19,030
POLARIS HOME FUNDING CORP. 2 2.31% $6,111
ALLIED MORTGAGE GROUP, INC. 2 3.13% $3,132
AMERICAN FINANCING CORPORATION 2 3.06% $12,798
Northpointe Bank 2 3.06% $7,347
Home Mortgage Alliance Corp 2 3.46% $11,472
EMBRACE HOME LOANS, INC. 2 2.50% $3,648
Bank of England 2 3.19% $7,758
People's United Bank 2 2.38% $7,788
HOMESIDE FINANCIAL, LLC 2 2.75% $3,157
FirstBank 2 2.69% $2,399
Community First National Bank 2 2.88% $11,353
AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.69% $3,325
U.S. Bank 2 2.69% $7,787
InterContinental Capital Group, Inc 2 2.75% $8,964
SOVEREIGN LENDING GROUP INCORPORATED 2 3.13% $15,632
HOMESTEAD FUNDING CORP. 2 2.56% $8,665
NP, Inc. 1 2.25% $4,240
Paramount Bank 1 2.75% $3,698
PARKSIDE LENDING, LLC 1 2.25% $3,088
DRAPER AND KRAMER MORTGAGE CORP. 1 2.25% $3,497
DAS Acquisition Company, LLC 1 2.75% $17,115
Plains Commerce Bank 1 2.88% $19,325
CMG MORTGAGE, INC. 1 2.75% $14,713
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.00% $8,340
Capital Bank 1 2.00% $4,451
Blue Ridge Bank 1 3.50% $16,268
Berkshire Bank 1 2.25% $6,728
RELIANCE FIRST CAPITAL, LLC 1 2.38% $6,173
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.00% $6,725
SIWELL, INC. 1 2.25% $3,663
STEARNS LENDING, LLC 1 3.25% $3,273
BAYSHORE MORTGAGE FUNDING, LLC 1 2.25% $7,609
TD Bank 1 2.75% $3,141
The Central Trust Bank 1 2.25% $7,624
BAY EQUITY LLC 1 2.99% $5,036
The Huntington National Bank 1 3.63% $5,392
TJC Mortgage, Inc. 1 2.25% $4,230
Truist Bank 1 2.50% $6,742
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 2.25% $14,735
AmRes Corporation 1 2.38% $2,555
KeyBank 1 2.75% $8,328
UNION HOME MORTGAGE CORP. 1 2.25% $9,734
FM Home Loans, LLC 1 2.25% $13,233
Magnolia Bank 1 2.75% $6,818
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.75% $7,842
MORTGAGE 1 INCORPORATED 1 2.75% $18,855
First Savings Bank 1 2.25% $857
Mortgage Unlimited, L.L.C. 1 2.50% $4,419
First Mortgage Solutions, LLC 1 2.13% $2,848
First Federal Bank 1 2.50% $8,252
Nations Lending Corporation 1 3.25% $7,086
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $7,521
Evolve Bank & Trust 1 3.00% $3,864
Equity Prime Mortgage LLC 1 2.88% $5,739
ENVOY MORTGAGE, LTD 1 2.88% $6,358
EMM LOANS LLC 1 2.63% $11,924
Watermark Capital, Inc. 1 2.25% $10,594
NORTHPOINT MORTGAGE, INC. 1 2.63% $5,306

The top New Haven VA lender as defined by loan originations is Mortgage Research Center, LLC, with 183 VA loans originated. Their average total fees are $5,770, which is $1,738 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee New Haven VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($2,012), VILLAGE CAPITAL & INVESTMENT LLC ($2,723), LAKEVIEW LOAN SERVICING, LLC ($3,147), LOANDEPOT.COM, LLC ($3,377) and FREEDOM MORTGAGE CORPORATION ($3,752).

The lowest rate New Haven VA lenders (with over 10 loans originated) are Low VA Rates, LLC (2.33%), VILLAGE CAPITAL & INVESTMENT LLC (2.34%), PENTAGON FEDERAL CREDIT UNION (2.34%), PENNYMAC LOAN SERVICES, LLC (2.40%) and NAVY FEDERAL CREDIT UNION (2.46%).


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 $250,000 (0.0%) $375,107 (1.6%) 0.92 3,359
2018-02-01 $258,450 (-0.6%) $381,758 (2.4%) 0.93 3,453
2018-03-01 $265,000 (-1.8%) $384,495 (2.5%) 0.92 3,772
2018-04-01 $273,320 (-1.3%) $376,305 (-2.1%) 0.92 4,079
2018-05-01 $279,900 (0.0%) $369,186 (-6.3%) 0.93 4,441
2018-06-01 $279,900 (-2.5%) $366,012 (-9.7%) 0.93 4,518
2018-07-01 $275,000 (-3.5%) $372,162 (-7.6%) 0.92 4,597
2018-08-01 $269,950 (1.1%) $365,558 (-2.6%) 0.90 4,632
2018-09-01 $269,900 (2.0%) $363,210 (-3.2%) 0.90 4,579
2018-10-01 $269,900 (3.9%) $362,767 (-2.7%) 0.90 4,530
2018-11-01 $265,000 (2.0%) $358,678 (-2.9%) 0.89 4,281
2018-12-01 $259,900 (1.6%) $352,245 (-6.2%) 0.89 3,843
2019-01-01 $259,900 (4.0%) $353,597 (-5.7%) 0.90 3,452
2019-02-01 $259,900 (0.6%) $357,035 (-6.5%) 0.87 3,484
2019-03-01 $270,371 (2.0%) $361,296 (-6.0%) 0.88 3,739
2019-04-01 $279,450 (2.2%) $367,147 (-2.4%) 0.88 3,977
2019-05-01 $279,900 (0.0%) $365,394 (-1.0%) 0.86 4,231
2019-06-01 $279,000 (-0.3%) $362,657 (-0.9%) 0.86 4,362
2019-07-01 $276,950 (0.7%) $358,970 (-3.5%) 0.86 4,344
2019-08-01 $271,514 (0.6%) $354,237 (-3.1%) 0.85 4,185
2019-09-01 $266,450 (-1.3%) $351,458 (-3.2%) 0.85 4,038
2019-10-01 $265,000 (-1.8%) $353,139 (-2.7%) 0.85 3,906
2019-11-01 $260,000 (-1.9%) $348,130 (-2.9%) 0.84 3,603
2019-12-01 $259,900 (0.0%) $347,545 (-1.3%) 0.87 3,104
2020-01-01 $259,000 (-0.4%) $346,224 (-2.1%) 0.86 2,733
2020-02-01 $264,999 (2.0%) $350,193 (-1.9%) 0.86 2,772
2020-03-01 $274,500 (1.5%) $356,402 (-1.4%) 0.86 3,071
2020-04-01 $274,900 (-1.6%) $362,115 (-1.4%) 0.86 2,924
2020-05-01 $279,900 (0.0%) $365,382 (0.0%) 0.85 2,807
2020-06-01 $289,900 (3.9%) $375,670 (3.6%) 0.85 3,010
2020-07-01 $289,950 (4.7%) $380,168 (5.9%) 0.83 3,075
2020-08-01 $289,000 (6.4%) $379,009 (7.0%) 0.83 3,069
2020-09-01 $279,900 (5.1%) $380,085 (8.2%) 0.80 3,084
2020-10-01 $285,000 (7.6%) $380,566 (7.8%) 0.81 3,035
2020-11-01 $286,950 (10.4%) $385,506 (10.7%) 0.82 2,644
2020-12-01 $279,800 (7.7%) $386,620 (11.2%) 0.82 2,292
2021-01-01 $285,000 (10.0%) $396,371 (14.5%) 0.84 1,875
2021-02-01 $289,900 (9.4%) $397,292 (13.5%) 0.83 1,718
2021-03-01 $297,000 (8.2%) $405,761 (13.9%) 0.83 1,843
2021-04-01 $299,900 (9.1%) $414,351 (14.4%) 0.81 1,928
2021-05-01 $309,900 (10.7%) $417,568 (14.3%) 0.82 2,131
2021-06-01 $337,400 (16.4%) $494,894 (31.7%) 0.88 1,150
2021-07-01 $339,000 (16.9%) $510,864 (34.4%) 0.88 1,277
2021-08-01 $329,900 (14.2%) $488,001 (28.8%) 0.87 1,413
2021-09-01 $325,000 (16.1%) $479,575 (26.2%) 0.86 1,432
2021-10-01 $329,900 (15.8%) $484,678 (27.4%) 0.87 1,363
2021-11-01 $329,950 (15.0%) $482,233 (25.1%) 0.87 1,096
2021-12-01 $324,450 (16.0%) $475,402 (23.0%) 0.87 923
2022-01-01 $329,900 (15.8%) $490,755 (23.8%) 0.88 729
2022-02-01 $344,450 (18.8%) $512,804 (29.1%) 0.88 628
2022-03-01 $354,500 (19.4%) $514,659 (26.8%) 0.88 616
2022-04-01 $359,900 (20.0%) $525,655 (26.9%) 0.85 733
New Haven's median listing price for 2022-04-01 was $359,900, a difference of $60,000 (20.0%) versus the prior year and $5,400 versus the prior month.

New Haven's median listing price comes in at 85% of the national average.

New Haven's average listing price for 2022-04-01 was $525,655, a difference of $111,304 (26.9%) versus the prior year and $10,996 versus the prior month.

For the 2022-04-01 period, New Haven had 733 MLS listings, a difference of 117 listings (19%) versus the prior month and -1,195 listings (-62%) 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 96 days 1,527 sqft
2018-02-01 95 days 1,548 sqft
2018-03-01 66 days 1,583 sqft
2018-04-01 55 days 1,616 sqft
2018-05-01 53 days 1,636 sqft
2018-06-01 53 days 1,632 sqft
2018-07-01 61 days 1,627 sqft
2018-08-01 66 days 1,617 sqft
2018-09-01 71 days 1,616 sqft
2018-10-01 78 days 1,620 sqft
2018-11-01 81 days 1,605 sqft
2018-12-01 94 days 1,586 sqft
2019-01-01 102 days 1,574 sqft
2019-02-01 99 days 1,559 sqft
2019-03-01 67 days 1,594 sqft
2019-04-01 52 days 1,637 sqft
2019-05-01 50 days 1,712 sqft
2019-06-01 53 days 1,790 sqft
2019-07-01 59 days 1,782 sqft
2019-08-01 66 days 1,763 sqft
2019-09-01 68 days 1,747 sqft
2019-10-01 71 days 1,760 sqft
2019-11-01 71 days 1,748 sqft
2019-12-01 82 days 1,735 sqft
2020-01-01 88 days 1,720 sqft
2020-02-01 77 days 1,733 sqft
2020-03-01 50 days 1,756 sqft
2020-04-01 55 days 1,750 sqft
2020-05-01 64 days 1,755 sqft
2020-06-01 51 days 1,786 sqft
2020-07-01 43 days 1,794 sqft
2020-08-01 42 days 1,757 sqft
2020-09-01 42 days 1,737 sqft
2020-10-01 43 days 1,747 sqft
2020-11-01 46 days 1,743 sqft
2020-12-01 51 days 1,716 sqft
2021-01-01 59 days 1,716 sqft
2021-02-01 48 days 1,691 sqft
2021-03-01 35 days 1,686 sqft
2021-04-01 32 days 1,694 sqft
2021-05-01 31 days 1,711 sqft
2021-06-01 29 days 1,766 sqft
2021-07-01 29 days 1,771 sqft
2021-08-01 33 days 1,613 sqft
2021-09-01 40 days 1,590 sqft
2021-10-01 45 days 1,612 sqft
2021-11-01 50 days 1,582 sqft
2021-12-01 59 days 1,570 sqft
2022-01-01 67 days 1,603 sqft
2022-02-01 46 days 1,597 sqft
2022-03-01 26 days 1,624 sqft
2022-04-01 20 days 1,600 sqft
New Haven's median listing age (time on market) for 2022-04-01 was 20 days. This is -37% shorter than the same period one year ago.

New Haven's median square footage for active listings during the 2022-04-01 period was 1,600 sqft. One year prior, the average listing was 1,694 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.