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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.