New Philadelphia VA Loan Rates, Closing Costs & Stats

New Philadelphia-Dover, OH

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 Philadelphia's 27 lenders originated 61 VA loans during 2023. The total origination value was $12,655,000, with an average VA loan value of $207,459.

New Philadelphia VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in New Philadelphia averaged 6.72% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

New Philadelphia's average VA mortgage closing costs are $4,921.

The average rate for the prior week (2024-05-31) was 7.13% and one month ago for the week of 2024-05-03, the average rate was 7.05%.

The average rate one year ago was 6.85%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.49%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

New Philadelphia 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 Philadelphia level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 17 7.03% $5,109
Nations Lending Corporation 5 6.75% $2,199
Republic State Mortgage Co. 3 7.58% $7,443
QUICKEN LOANS, LLC 3 6.71% $10,368
The Huntington National Bank 3 6.75% $3,027
UNITED WHOLESALE MORTGAGE, LLC 3 5.71% $11,580
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.56% $6,591
CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $8,457
PENNYMAC LOAN SERVICES, LLC 2 5.25% $2,909
LOANDEPOT.COM, LLC 1 6.00% $8,098
MOVEMENT MORTGAGE, LLC 1 6.75% $6,558
NAVY FEDERAL CREDIT UNION 1 7.13% $3,747
NEW DAY FINANCIAL, LLC 1 7.63% $3,929
NFM, INC. 1 7.63% $9,757
Paramount Residential Mortgage Group, Inc. 1 6.75% $7,628
POLARIS HOME FUNDING CORP. 1 6.75% $9,538
T2 FINANCIAL LLC 1 6.75% $14,099
BROKER SOLUTIONS, INC. 1 6.75% $4,536
U.S. Bank 1 7.00% $2,437
CARDINAL FINANCIAL 1 7.25% $13,322
CMG MORTGAGE, INC. 1 6.63% $5,717
First Federal Savings and Loan Association of Lakewood 1 7.00% $17,017
FREEDOM MORTGAGE CORPORATION 1 5.25% $16,911
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $4,837
Ixonia Bank 1 7.38% $1,329
JPMorgan Chase Bank 1 7.25% $10,679
KeyBank 1 6.88% $4,963

The top New Philadelphia VA lender as defined by loan originations is Mortgage Research Center, LLC, with 17 VA loans originated. Their average total fees are $5,109, which is $2,910 higher than the next largest lender, Nations Lending Corporation.

The lowest fee New Philadelphia VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,109), .

The lowest rate New Philadelphia VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (7.03%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - New Philadelphia (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 $117,400 (-9.6%) $157,194 (-4.8%) 0.00 191
2018-02-01 $124,900 (-3.9%) $158,191 (-4.8%) 0.00 171
2018-03-01 $129,900 (0.5%) $157,794 (-6.2%) 0.00 166
2018-04-01 $137,675 (6.0%) $163,239 (-2.5%) 0.00 166
2018-05-01 $139,450 (1.5%) $164,439 (-14.6%) 0.00 173
2018-06-01 $144,900 (4.3%) $171,195 (-10.6%) 0.00 180
2018-07-01 $142,325 (4.7%) $172,141 (-6.1%) 0.00 189
2018-08-01 $149,450 (10.8%) $178,175 (0.3%) 0.00 194
2018-09-01 $149,000 (10.5%) $181,361 (2.3%) 0.00 198
2018-10-01 $139,450 (6.9%) $174,829 (-0.6%) 0.00 202
2018-11-01 $127,400 (0.0%) $163,795 (-4.4%) 0.00 189
2018-12-01 $126,400 (-2.5%) $171,455 (3.9%) 0.00 168
2019-01-01 $119,900 (2.1%) $174,241 (10.8%) 0.00 145
2019-02-01 $136,150 (9.0%) $179,634 (13.6%) 0.00 129
2019-03-01 $139,900 (7.7%) $193,662 (22.7%) 0.00 128
2019-04-01 $143,650 (4.3%) $200,254 (22.7%) 0.00 129
2019-05-01 $137,050 (-1.7%) $184,122 (12.0%) 0.00 143
2019-06-01 $149,900 (3.5%) $201,554 (17.7%) 0.00 139
2019-07-01 $158,650 (11.5%) $204,579 (18.8%) 0.00 135
2019-08-01 $152,809 (2.3%) $194,917 (9.4%) 0.00 150
2019-09-01 $151,173 (1.5%) $189,100 (4.3%) 0.00 171
2019-10-01 $150,082 (7.6%) $186,173 (6.5%) 0.00 189
2019-11-01 $155,400 (22.0%) $185,685 (13.4%) 0.00 186
2019-12-01 $159,450 (26.2%) $187,529 (9.4%) 0.00 180
2020-01-01 $159,900 (33.4%) $185,004 (6.2%) 0.00 160
2020-02-01 $159,900 (17.4%) $185,730 (3.4%) 0.00 143
2020-03-01 $146,675 (4.8%) $176,734 (-8.7%) 0.00 150
2020-04-01 $146,700 (2.1%) $176,235 (-12.0%) 0.00 150
2020-05-01 $159,900 (16.7%) $193,689 (5.2%) 0.00 118
2020-06-01 $177,175 (18.2%) $205,122 (1.8%) 0.00 114
2020-07-01 $151,950 (-4.2%) $198,646 (-2.9%) 0.00 112
2020-08-01 $172,400 (12.8%) $213,750 (9.7%) 0.00 103
2020-09-01 $174,900 (15.7%) $216,994 (14.8%) 0.00 111
2020-10-01 $159,900 (6.5%) $212,162 (14.0%) 0.00 118
2020-11-01 $156,700 (0.8%) $217,540 (17.2%) 0.00 100
2020-12-01 $155,500 (-2.5%) $228,287 (21.7%) 0.00 85
2021-01-01 $155,700 (-2.6%) $236,220 (27.7%) 0.00 64
2021-02-01 $199,450 (24.7%) $245,782 (32.3%) 0.00 56
2021-03-01 $164,450 (12.1%) $224,252 (26.9%) 0.00 57
2021-04-01 $162,450 (10.7%) $211,314 (19.9%) 0.00 59
2021-05-01 $168,500 (5.4%) $220,515 (13.9%) 0.00 69
2021-06-01 $192,450 (8.6%) $225,343 (9.9%) 0.00 83
2021-07-01 $229,000 (50.7%) $235,556 (18.6%) 0.00 110
2021-08-01 $223,650 (29.7%) $232,570 (8.8%) 0.00 108
2021-09-01 $197,175 (12.7%) $224,721 (3.6%) 0.00 96
2021-10-01 $189,900 (18.8%) $222,551 (4.9%) 0.00 93
2021-11-01 $172,200 (9.9%) $217,465 (0.0%) 0.00 70
2021-12-01 $156,900 (0.9%) $219,787 (-3.7%) 0.00 64
2022-01-01 $154,900 (-0.5%) $219,801 (-7.0%) 0.00 52
2022-02-01 $148,725 (-25.4%) $218,912 (-10.9%) 0.00 54
2022-03-01 $139,900 (-14.9%) $214,496 (-4.4%) 0.00 54
2022-04-01 $159,950 (-1.5%) $226,801 (7.3%) 0.00 58
2022-05-01 $155,650 (-7.6%) $233,072 (5.7%) 0.00 73
2022-06-01 $187,225 (-2.7%) $255,761 (13.5%) 0.00 64
2022-07-01 $192,450 (-16.0%) $283,327 (20.3%) 0.00 88
2022-08-01 $201,325 (-10.0%) $305,215 (31.2%) 0.00 85
2022-09-01 $205,950 (4.5%) $303,966 (35.3%) 0.00 83
2022-10-01 $199,900 (5.3%) $284,081 (27.7%) 0.00 93
2022-11-01 $213,425 (23.9%) $258,616 (18.9%) 0.00 86
2022-12-01 $209,900 (33.8%) $260,546 (18.5%) 0.00 80
2023-01-01 $194,900 (25.8%) $250,694 (14.1%) 0.00 67
2023-02-01 $198,900 (33.7%) $236,417 (8.0%) 0.00 52
2023-03-01 $224,900 (60.8%) $258,238 (20.4%) 0.00 61
2023-04-01 $221,000 (38.2%) $249,531 (10.0%) 0.00 77
2023-05-01 $225,925 (45.2%) $255,620 (9.7%) 0.00 70
2023-06-01 $232,175 (24.0%) $258,395 (1.0%) 0.00 71
2023-07-01 $229,900 (19.5%) $253,906 (-10.4%) 0.00 83
2023-08-01 $241,257 (19.8%) $249,989 (-18.1%) 0.00 96
2023-09-01 $239,900 (16.5%) $256,966 (-15.5%) 0.00 96
2023-10-01 $236,400 (18.3%) $253,301 (-10.8%) 0.00 91
2023-11-01 $224,900 (5.4%) $243,138 (-6.0%) 0.00 93
2023-12-01 $232,200 (10.6%) $249,576 (-4.2%) 0.00 78
2024-01-01 $224,750 (15.3%) $239,364 (-4.5%) 0.00 67
2024-02-01 $220,000 (10.6%) $255,198 (7.9%) 0.00 67
2024-03-01 $200,000 (-11.1%) $274,244 (6.2%) 0.00 77
2024-04-01 $212,450 (-3.9%) $273,108 (9.5%) 0.00 75
2024-05-01 $254,950 (12.9%) $299,143 (17.0%) 0.00 82
New Philadelphia's median listing price for 2024-05-01 was $254,950, a difference of $29,025 (12.9%) versus the prior year and $42,500 versus the prior month.

New Philadelphia's median listing price comes in at 0% of the national average.

New Philadelphia's average listing price for 2024-05-01 was $299,143, a difference of $43,523 (17.0%) versus the prior year and $26,035 versus the prior month.

For the 2024-05-01 period, New Philadelphia had 82 MLS listings, a difference of 7 listings (9%) versus the prior month and 12 listings (17%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - New Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,528 sqft
2018-02-01 0 days 1,544 sqft
2018-03-01 0 days 1,530 sqft
2018-04-01 0 days 1,576 sqft
2018-05-01 0 days 1,586 sqft
2018-06-01 0 days 1,649 sqft
2018-07-01 0 days 1,650 sqft
2018-08-01 0 days 1,683 sqft
2018-09-01 0 days 1,680 sqft
2018-10-01 0 days 1,680 sqft
2018-11-01 0 days 1,668 sqft
2018-12-01 0 days 1,694 sqft
2019-01-01 0 days 1,672 sqft
2019-02-01 0 days 1,625 sqft
2019-03-01 0 days 1,695 sqft
2019-04-01 0 days 1,700 sqft
2019-05-01 0 days 1,600 sqft
2019-06-01 0 days 1,582 sqft
2019-07-01 0 days 1,598 sqft
2019-08-01 0 days 1,597 sqft
2019-09-01 0 days 1,660 sqft
2019-10-01 0 days 1,683 sqft
2019-11-01 0 days 1,724 sqft
2019-12-01 0 days 1,687 sqft
2020-01-01 0 days 1,634 sqft
2020-02-01 0 days 1,681 sqft
2020-03-01 0 days 1,757 sqft
2020-04-01 0 days 1,728 sqft
2020-05-01 0 days 1,796 sqft
2020-06-01 0 days 1,940 sqft
2020-07-01 0 days 1,970 sqft
2020-08-01 0 days 1,947 sqft
2020-09-01 0 days 1,947 sqft
2020-10-01 0 days 1,836 sqft
2020-11-01 0 days 1,795 sqft
2020-12-01 0 days 1,822 sqft
2021-01-01 0 days 1,772 sqft
2021-02-01 0 days 1,857 sqft
2021-03-01 0 days 1,825 sqft
2021-04-01 0 days 1,618 sqft
2021-05-01 0 days 1,756 sqft
2021-06-01 0 days 1,821 sqft
2021-07-01 0 days 1,751 sqft
2021-08-01 0 days 1,708 sqft
2021-09-01 0 days 1,720 sqft
2021-10-01 0 days 1,662 sqft
2021-11-01 0 days 1,677 sqft
2021-12-01 0 days 1,763 sqft
2022-01-01 0 days 1,650 sqft
2022-02-01 0 days 1,650 sqft
2022-03-01 0 days 1,667 sqft
2022-04-01 0 days 1,768 sqft
2022-05-01 0 days 1,742 sqft
2022-06-01 0 days 1,793 sqft
2022-07-01 0 days 1,760 sqft
2022-08-01 0 days 1,776 sqft
2022-09-01 0 days 1,736 sqft
2022-10-01 0 days 1,776 sqft
2022-11-01 0 days 1,756 sqft
2022-12-01 0 days 1,716 sqft
2023-01-01 0 days 1,697 sqft
2023-02-01 0 days 1,727 sqft
2023-03-01 0 days 1,887 sqft
2023-04-01 0 days 1,930 sqft
2023-05-01 0 days 1,918 sqft
2023-06-01 0 days 1,961 sqft
2023-07-01 0 days 2,022 sqft
2023-08-01 0 days 2,043 sqft
2023-09-01 0 days 1,982 sqft
2023-10-01 0 days 2,066 sqft
2023-11-01 0 days 2,015 sqft
2023-12-01 0 days 1,978 sqft
2024-01-01 0 days 1,953 sqft
2024-02-01 0 days 1,951 sqft
2024-03-01 0 days 1,847 sqft
2024-04-01 0 days 1,949 sqft
2024-05-01 0 days 2,012 sqft
New Philadelphia's median listing age (time on market) for 2024-05-01 was 0 days.

New Philadelphia's median square footage for active listings during the 2024-05-01 period was 2,012 sqft. One year prior, the average listing was 1,918 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.