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
6.28%
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.