New Haven VA Loans

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 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.