New York VA Loan Rates, Closing Costs & Stats

New York-Newark-Jersey City, NY-NJ-PA

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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 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 York's 156 lenders originated 3,146 VA loans during 2024. The total origination value was $1,651,740,000, with an average VA loan value of $525,029.

    New York VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New York averaged 0.64% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

    New York's average VA mortgage closing costs are $9,583.

    The average rate for the prior week (2025-06-13) was 7.09% and one month ago for the week of 2025-05-16, the average rate was 7.05%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.62%.

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

    New York 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 York level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 416 6.26% $10,644
    UNITED WHOLESALE MORTGAGE, LLC 269 5.94% $12,119
    QUICKEN LOANS, LLC 221 6.03% $14,287
    CROSSCOUNTRY MORTGAGE, LLC 162 6.40% $13,962
    NAVY FEDERAL CREDIT UNION 155 5.91% $9,540
    FREEDOM MORTGAGE CORPORATION 129 6.20% $14,423
    LOANDEPOT.COM, LLC 89 6.03% $14,187
    GUARANTEED RATE, INC. 83 6.03% $9,888
    NEWREZ LLC 78 6.29% $14,780
    PENNYMAC LOAN SERVICES, LLC 76 5.94% $12,555
    The Federal Savings Bank 74 6.14% $24,545
    CONTOUR MORTGAGE CORPORATION 57 6.46% $15,861
    NEW DAY FINANCIAL, LLC 57 7.61% $17,471
    VILLAGE CAPITAL MORTGAGE 54 5.69% $10,356
    USAA Federal Savings Bank 52 6.27% $11,571
    PLANET HOME LENDING, LLC 47 5.76% $6,604
    CMG MORTGAGE, INC. 42 6.33% $12,793
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 39 6.45% $9,685
    NJ LENDERS CORP. 37 6.31% $10,208
    NATIONWIDE MORTGAGE BANKERS, INC. 32 6.55% $23,336
    MOVEMENT MORTGAGE, LLC 27 6.51% $16,760
    Barrington Bank & Trust Company, N.A. 27 6.21% $13,609
    Advisors Mortgage Group, L.L.C. 25 6.39% $8,820
    Mr. Cooper ( Nationstar Mortgage ) 24 6.30% $16,971
    EMBRACE HOME LOANS, INC. 24 6.20% $11,739
    CARDINAL FINANCIAL 23 6.40% $15,882
    JPMorgan Chase Bank 21 6.26% $9,007
    Carrington Mortgage Services, LLC 20 5.91% $15,225
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 6.46% $13,953
    ABSOLUTE HOME MORTGAGE CORPORATION 18 6.55% $13,657
    GUARANTEED RATE AFFINITY, LLC 17 6.07% $8,814
    UNITED MORTGAGE CORP 17 6.59% $17,806
    Paramount Residential Mortgage Group, Inc. 17 6.58% $12,497
    PENTAGON FEDERAL CREDIT UNION 15 5.98% $7,373
    Flagstar Bank, FSB 15 6.34% $12,516
    First Federal Bank 15 5.73% $10,262
    BOND STREET MORTGAGE, LLC 14 6.38% $11,130
    PLAZA HOME MORTGAGE, INC. 14 6.39% $14,074
    MUTUAL OF OMAHA MORTGAGE, INC. 13 6.44% $24,883
    NBKC BANK 13 6.01% $7,013
    RELIANCE FIRST CAPITAL, LLC 13 6.09% $19,829
    DHI MORTGAGE COMPANY, LTD. 13 6.36% $13,562
    Magnolia Bank 13 5.93% $19,741
    CLEARPATH LENDING 12 5.76% $11,996
    MID-ISLAND MORTGAGE CORP. 12 6.06% $8,646
    CLIFFCO, INC. 11 6.50% $17,661
    U.S. Bank 11 6.41% $8,552
    AMERICAN FINANCIAL NETWORK, INC. 10 6.55% $11,165
    Wells Fargo Bank 10 5.93% $8,383
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 10 6.75% $12,413
    BROKER SOLUTIONS, INC. 10 6.51% $17,556
    East Coast Capital Corp. 9 6.49% $21,707
    Cornerstone First Mortgage, Inc 9 6.15% $15,076
    Prosperity Home Mortgage, LLC 8 6.45% $9,225
    Century Mortgage Company DBA Century Lending Company 8 5.97% $10,470
    Citizens Bank 8 6.06% $18,138
    PANORAMA MORTGAGE GROUP, LLC 8 6.31% $12,206
    SUN WEST MORTGAGE COMPANY, INC. 8 5.89% $15,808
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.16% $14,057
    HARTFORD FUNDING, LTD. 8 6.48% $25,169
    HOMEBRIDGE FINANCIAL SERVICES, INC. 8 6.28% $9,856
    MORTGAGE ACCESS CORP. 8 6.02% $13,940
    Lakeview Community Capital, LLC 8 5.50% $6,709
    AmeriHome Mortgage Company, LLC 7 6.13% $11,963
    LAKEVIEW LOAN SERVICING, LLC 7 5.84% $5,248
    1ST PRIORITY MORTGAGE, INC. 7 6.21% $15,738
    Ixonia Bank 7 6.39% $9,922
    UNION HOME MORTGAGE CORP. 6 6.25% $12,150
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 6.96% $11,318
    SUCCESS MORTGAGE PARTNERS, INC. 6 6.41% $18,714
    Equity Prime Mortgage LLC 6 6.69% $16,128
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 6 6.35% $27,169
    AMERISAVE MORTGAGE CORPORATION 6 5.63% $22,352
    Bank of America 5 5.95% $10,403
    EMM LOANS LLC 5 6.45% $15,549
    Evolve Bank & Trust 5 6.40% $9,205
    JET DIRECT FUNDING CORP 5 6.45% $14,057
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 6.35% $7,654
    PINNACLE MORTGAGE, INC. 5 6.50% $13,008
    Plains Commerce Bank 5 6.25% $16,695
    PHH Mortgage Corporation 4 5.37% $3,773
    Nations Lending Corporation 4 5.81% $13,346
    Armed Forces Bank 4 5.66% $9,005
    NFM, INC. 4 6.25% $10,238
    GREENWAY MORTGAGE FUNDING CORP. 4 6.53% $11,074
    NVR Mortgage Finance, Inc. 4 6.31% $20,887
    NATIONS DIRECT MORTGAGE, LLC 3 6.66% $15,318
    Princeton Mortgage Corporation 3 6.08% $13,223
    NETWORK CAPITAL FUNDING CORPORATION 3 6.54% $16,336
    BAY EQUITY LLC 3 6.38% $6,603
    MLB RESIDENTIAL LENDING, LLC 3 6.54% $14,219
    Sunflower Bank 3 5.82% $10,513
    ATLANTIS MORTGAGE CO., INC. 3 6.08% $17,908
    JMAC LENDING, INC. 3 6.38% $16,697
    NORWICH COMMERCIAL GROUP, INC. 3 6.17% $11,896
    OceanFirst Bank 3 6.17% $10,414
    VERITAS FUNDING, LLC 3 6.08% $25,613
    Credence Funding Corporation 3 5.83% $7,728
    GREENTREE MORTGAGE COMPANY, L.P. 3 6.08% $12,506
    M&T Bank 3 6.46% $7,626
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.54% $9,557
    The Huntington National Bank 2 6.19% $3,154
    KeyBank 2 6.06% $33,404
    Bank of England 2 6.75% $7,229
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 2 7.68% $14,145
    AFFORDABLE MORTGAGE ADVISORS, LLC. 2 5.94% $15,305
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $11,543
    OCEANSIDE MORTGAGE COMPANY 2 6.25% $1,427
    GUILD MORTGAGE COMPANY 2 6.38% $8,764
    US MORTGAGE CORPORATION 2 6.88% $16,367
    FIRST COLONY MORTGAGE CORPORATION 2 5.75% $8,801
    Acre Mortgage and Financial Inc 2 6.50% $22,877
    Sierra Pacific Mortgage Company, Inc. 2 6.25% $7,853
    Fulton Bank 2 6.44% $3,966
    MLD MORTGAGE INC. 2 6.31% $5,041
    Summit Mortgage Corporation 2 5.75% $10,470
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.38% $29,838
    GENEVA FINANCIAL, LLC 2 7.19% $15,698
    HOMESIDE FINANCIAL, LLC 2 6.19% $23,876
    Texana Bank 2 6.25% $18,531
    The Central Trust Bank 2 5.75% $6,473
    CONTINENTAL MORTGAGE BANKERS, INC. 2 6.25% $14,810
    Keystone Funding, Inc. 1 6.25% $6,039
    Mid-Continent Funding, Inc. 1 6.75% $8,664
    HomePromise Corporation 1 6.25% $10,885
    GLENDENNING MORTGAGE CORPORATION 1 6.75% $25,991
    Gateway First Bank 1 6.63% $7,201
    Florida Capital Bank 1 6.25% $5,003
    FIRST HOME MORTGAGE CORPORATION 1 6.75% $7,457
    North American Savings Bank, F.S.B. 1 6.25% $729
    NORTHPOINT MORTGAGE, INC. 1 6.25% $6,557
    OCMBC, INC. 1 7.13% $13,868
    EAGLE HOME MORTGAGE, LLC 1 6.25% $15,037
    BETTER MORTGAGE CORPORATION 1 6.25% $15,446
    PNC Bank 1 6.63% $10,262
    POLARIS HOME FUNDING CORP. 1 7.13% $6,533
    PREMIA MORTGAGE, LLC 1 6.25% $14,589
    Presidential Bank, FSB 1 6.25% $4,795
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $5,564
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.25% $3,892
    Provident Bank 1 6.25% $4,577
    Quaint Oak Mortgage, LLC 1 6.75% $11,686
    RESIDENTIAL HOME MORTGAGE CORPORATION 1 6.13% $4,908
    ROYAL UNITED MORTGAGE LLC 1 6.50% $62,043
    SIRVA MORTGAGE, INC. 1 6.13% $175
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.13% $5,620
    TD Bank 1 6.63% $5,677
    ASSOCIATED MORTGAGE BANKERS, INC. 1 6.63% $21,012
    TOTAL MORTGAGE SERVICES, LLC 1 5.75% $10,113
    AMERICAN INTERNET MORTGAGE, INC. 1 5.00% $3,719
    AMERICAN FINANCING CORPORATION 1 6.88% $11,525
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 5.75% $2,956
    ALLIED MORTGAGE GROUP, INC. 1 6.25% $12,407
    VAN DYK MORTGAGE CORPORATION 1 6.88% $0
    LIBERTY HOME MORTGAGE CORPORATION 1 6.88% $20,882
    LOANPAL, LLC 1 6.50% $26,135

    The top New York VA lender as defined by loan originations is Mortgage Research Center, LLC, with 416 VA loans originated. Their average total fees are $10,644, which is $1,475 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee New York VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC ($6,604), NBKC BANK ($7,013), PENTAGON FEDERAL CREDIT UNION ($7,373), Wells Fargo Bank ($8,383) and U.S. Bank ($8,552).

    The lowest rate New York VA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (5.69%), First Federal Bank (5.73%), CLEARPATH LENDING (5.76%), PLANET HOME LENDING, LLC (5.76%) and NAVY FEDERAL CREDIT UNION (5.91%).

    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.