New Haven VA Loan Rates, Closing Costs & Stats

NEW HAVEN-MILFORD, CT

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 62 lenders originated 314 VA loans during 2023. The total origination value was $110,420,000, with an average VA loan value of $351,656.

    New Haven VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Haven averaged 7.09% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    New Haven's average VA mortgage closing costs are $6,648.

    The average rate for the prior week (2024-04-12) was 6.62% and one month ago for the week of 2024-03-15, the average rate was 6.88%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.44%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 85 6.70% $9,711
    QUICKEN LOANS, LLC 33 6.06% $12,222
    UNITED WHOLESALE MORTGAGE, LLC 17 6.45% $11,845
    USAA Federal Savings Bank 16 6.46% $11,891
    NAVY FEDERAL CREDIT UNION 12 5.92% $6,624
    FREEDOM MORTGAGE CORPORATION 10 6.80% $14,984
    LOANDEPOT.COM, LLC 9 6.58% $12,279
    NEW DAY FINANCIAL, LLC 7 7.66% $12,184
    Citizens Bank 6 6.44% $10,631
    TOTAL MORTGAGE SERVICES, LLC 6 6.48% $10,851
    PENNYMAC LOAN SERVICES, LLC 6 6.08% $8,984
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.83% $8,761
    Barrington Bank & Trust Company, N.A. 5 6.35% $10,048
    PLAZA HOME MORTGAGE, INC. 5 6.35% $9,778
    GUARANTEED RATE, INC. 5 6.18% $6,380
    The Federal Savings Bank 5 6.55% $16,649
    MOVEMENT MORTGAGE, LLC 5 6.25% $4,016
    Mr. Cooper ( Nationstar Mortgage ) 4 5.75% $12,787
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.33% $16,355
    CARDINAL FINANCIAL 3 6.17% $20,294
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.25% $10,587
    NORWICH COMMERCIAL GROUP, INC. 3 6.58% $4,499
    NEWREZ LLC 3 6.50% $12,427
    NBKC BANK 3 5.75% $12,534
    CROSSCOUNTRY MORTGAGE, LLC 3 6.65% $5,120
    VILLAGE CAPITAL MORTGAGE 2 5.57% $9,624
    PENTAGON FEDERAL CREDIT UNION 2 6.56% $13,596
    AMERICAN FINANCIAL NETWORK, INC. 2 6.94% $17,615
    GUARANTEED RATE AFFINITY, LLC 2 6.00% $8,964
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.25% $14,621
    Waterstone Mortgage Corporation 1 7.25% $19,818
    Acre Mortgage and Financial Inc 1 6.88% $9,065
    Wells Fargo Bank 1 5.63% $0
    AMCAP MORTGAGE, LTD. 1 6.00% $12,365
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $17,160
    Bank of England 1 6.25% $4,670
    BNC National Bank 1 5.63% $9,992
    BROKER SOLUTIONS, INC. 1 6.25% $5,395
    CMG MORTGAGE, INC. 1 6.50% $12,422
    DAS Acquisition Company, LLC 1 7.75% $600
    EMM LOANS LLC 1 5.38% $11,860
    Equity Prime Mortgage LLC 1 7.25% $16,965
    EQUITY RESOURCES, INC. 1 6.99% $9,636
    First Federal Bank 1 5.75% $4,978
    Flagstar Bank, FSB 1 5.63% $10,153
    Gateway First Bank 1 6.13% $10,301
    HOMESTEAD FUNDING CORP. 1 7.25% $16,464
    MORTGAGE EQUITY PARTNERS LLC 1 6.99% $8,194
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $40,771
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $15,067
    NATIONS DIRECT MORTGAGE, LLC 1 5.99% $12,172
    NBH Bank 1 5.75% $10,700
    Paramount Residential Mortgage Group, Inc. 1 7.50% $20,451
    PLANET HOME LENDING, LLC 1 6.88% $4,146
    PREMIA MORTGAGE, LLC 1 6.25% $8,857
    PROVINCE MORTGAGE ASSOCIATES, INC. 1 7.75% $22,848
    RESIDENTIAL HOME FUNDING CORP. 1 5.63% $18,341
    Residential Mortgage Solutions, Inc. 1 6.63% $12,712
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $16,740
    Strong Home Mortgage, LLC 1 6.25% $6,123
    T2 FINANCIAL LLC 1 7.75% $696
    TOP FLITE FINANCIAL, INC. 1 6.75% $16,111

    The top New Haven VA lender as defined by loan originations is Mortgage Research Center, LLC, with 85 VA loans originated. Their average total fees are $9,711, which is $2,511 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 ($6,624), Mortgage Research Center, LLC ($9,711), UNITED WHOLESALE MORTGAGE, LLC ($11,845), USAA Federal Savings Bank ($11,891) and QUICKEN LOANS, LLC ($12,222).

    The lowest rate New Haven VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.92%), QUICKEN LOANS, LLC (6.06%), UNITED WHOLESALE MORTGAGE, LLC (6.45%), USAA Federal Savings Bank (6.46%) and Mortgage Research Center, LLC (6.70%).

    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
    2024-01-01 $399,900 (7.4%) $565,017 (14.5%) 0.98 721
    2024-02-01 $415,750 (7.4%) $585,020 (13.4%) 1.00 663
    2024-03-01 $400,000 (0.2%) $573,579 (5.7%) 0.94 689
    New Haven's median listing price for 2024-03-01 was $400,000, a difference of $775 (0.2%) versus the prior year and $-15,750 versus the prior month.

    New Haven's median listing price comes in at 94% of the national average.

    New Haven's average listing price for 2024-03-01 was $573,579, a difference of $30,993 (5.7%) versus the prior year and $-11,441 versus the prior month.

    For the 2024-03-01 period, New Haven had 689 MLS listings, a difference of 26 listings (4%) versus the prior month and -9 listings (-1%) 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 67 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
    2024-01-01 58 days 1,798 sqft
    2024-02-01 54 days 1,781 sqft
    2024-03-01 40 days 1,728 sqft
    New Haven's median listing age (time on market) for 2024-03-01 was 40 days. This is 31% longer than the same period one year ago.

    New Haven's median square footage for active listings during the 2024-03-01 period was 1,728 sqft. One year prior, the average listing was 1,855 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.