New York VA Loan Rates, Closing Costs & Stats
New York-Newark-Jersey City, NY-NJ-PA
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 164 lenders originated 2,445 VA loans during 2023. The total origination value was $1,216,755,000, with an average VA loan value of $497,650.
New York VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in New York
averaged
6.59%
for the week of 2025-02-14, compared to the national average (all VA variants) of
6.428% for the same period.
New York's average VA mortgage closing costs are $9,304.
The average rate for the prior week (2025-02-07) was
6.32% and
one month ago for the week of 2025-01-10, the
average rate was 6.36%.
The average rate one year ago was 6.58%.
For refis of the same type during the week of 2025-02-14, the average rate
was 6.95%.
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.
The top New York VA lender as defined by loan originations is Mortgage Research Center, LLC, with
318 VA loans originated. Their average total fees are
$12,421, which is $4,537
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee New York VA lenders (with over 10 loans originated) are
Advisors Mortgage Group, L.L.C. ($8,794), JPMorgan Chase Bank ($9,249), NBKC BANK ($9,959), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($10,230) and NJ LENDERS CORP. ($10,379).
The lowest rate New York VA lenders (with over 10 loans originated) are
PENTAGON FEDERAL CREDIT UNION (5.58%), NAVY FEDERAL CREDIT UNION (5.76%), Wells Fargo Bank (5.88%), Plains Commerce Bank (5.91%) and PENNYMAC LOAN SERVICES, LLC (5.92%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - New York (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 | $504,500 (12.2%) | $1,201,897 (11.3%) | 1.85 | 47,166 |
| 2018-02-01 | $525,000 (13.2%) | $1,203,837 (6.8%) | 1.88 | 49,645 |
| 2018-03-01 | $539,900 (11.9%) | $1,180,874 (3.9%) | 1.86 | 53,178 |
| 2018-04-01 | $551,925 (10.6%) | $1,177,424 (1.1%) | 1.86 | 56,296 |
| 2018-05-01 | $569,000 (10.7%) | $1,170,846 (1.2%) | 1.87 | 61,351 |
| 2018-06-01 | $569,500 (9.5%) | $1,152,998 (-0.1%) | 1.87 | 64,304 |
| 2018-07-01 | $564,000 (8.7%) | $1,133,502 (-0.8%) | 1.85 | 64,929 |
| 2018-08-01 | $550,000 (10.1%) | $1,099,883 (-1.9%) | 1.84 | 64,092 |
| 2018-09-01 | $559,000 (10.7%) | $1,107,855 (-2.7%) | 1.85 | 64,664 |
| 2018-10-01 | $559,000 (7.0%) | $1,118,438 (-4.1%) | 1.86 | 65,012 |
| 2018-11-01 | $559,000 (7.6%) | $1,130,071 (-3.5%) | 1.86 | 62,638 |
| 2018-12-01 | $549,000 (7.7%) | $1,130,081 (-4.4%) | 1.86 | 56,644 |
| 2019-01-01 | $545,000 (8.0%) | $1,129,579 (-6.0%) | 1.85 | 52,146 |
| 2019-02-01 | $549,450 (4.7%) | $1,141,878 (-5.2%) | 1.85 | 54,158 |
| 2019-03-01 | $562,429 (4.2%) | $1,142,378 (-3.3%) | 1.83 | 57,717 |
| 2019-04-01 | $579,000 (4.9%) | $1,138,134 (-3.3%) | 1.83 | 61,682 |
| 2019-05-01 | $595,000 (4.6%) | $1,143,100 (-2.4%) | 1.84 | 67,046 |
| 2019-06-01 | $595,000 (4.5%) | $1,134,390 (-1.6%) | 1.83 | 68,877 |
| 2019-07-01 | $582,500 (3.3%) | $1,121,491 (-1.1%) | 1.80 | 67,789 |
| 2019-08-01 | $581,250 (5.7%) | $1,115,765 (1.4%) | 1.82 | 66,922 |
| 2019-09-01 | $583,359 (4.4%) | $1,128,472 (1.9%) | 1.85 | 66,095 |
| 2019-10-01 | $585,000 (4.7%) | $1,138,560 (1.8%) | 1.86 | 64,996 |
| 2019-11-01 | $579,000 (3.6%) | $1,151,286 (1.9%) | 1.89 | 61,217 |
| 2019-12-01 | $579,000 (5.5%) | $1,177,565 (4.2%) | 1.92 | 53,425 |
| 2020-01-01 | $572,350 (5.0%) | $1,186,442 (5.0%) | 1.89 | 49,253 |
| 2020-02-01 | $579,900 (5.5%) | $1,189,724 (4.2%) | 1.88 | 50,657 |
| 2020-03-01 | $599,000 (6.5%) | $1,194,646 (4.6%) | 1.85 | 52,118 |
| 2020-04-01 | $599,000 (3.5%) | $1,235,750 (8.6%) | 1.88 | 48,239 |
| 2020-05-01 | $599,000 (0.7%) | $1,210,559 (5.9%) | 1.82 | 47,909 |
| 2020-06-01 | $607,500 (2.1%) | $1,202,446 (6.0%) | 1.77 | 50,565 |
| 2020-07-01 | $629,500 (8.1%) | $1,216,514 (8.5%) | 1.82 | 53,814 |
| 2020-08-01 | $649,000 (11.7%) | $1,257,237 (12.7%) | 1.84 | 53,868 |
| 2020-09-01 | $649,450 (11.3%) | $1,270,263 (12.6%) | 1.86 | 54,158 |
| 2020-10-01 | $650,000 (11.1%) | $1,299,537 (14.1%) | 1.86 | 55,226 |
| 2020-11-01 | $649,950 (12.3%) | $1,314,171 (14.2%) | 1.90 | 51,807 |
| 2020-12-01 | $649,950 (12.3%) | $1,335,674 (13.4%) | 1.93 | 46,561 |
| 2021-01-01 | $649,900 (13.6%) | $1,383,033 (16.6%) | 1.94 | 40,170 |
| 2021-02-01 | $650,000 (12.1%) | $1,406,220 (18.2%) | 1.89 | 38,479 |
| 2021-03-01 | $649,000 (8.4%) | $1,390,012 (16.4%) | 1.84 | 38,238 |
| 2021-04-01 | $650,000 (8.5%) | $1,399,533 (13.3%) | 1.76 | 39,848 |
| 2021-05-01 | $650,000 (8.5%) | $1,387,307 (14.6%) | 1.73 | 42,006 |
| 2021-06-01 | $649,000 (6.8%) | $1,349,941 (12.3%) | 1.70 | 44,487 |
| 2021-07-01 | $629,000 (-0.1%) | $1,307,328 (7.5%) | 1.65 | 44,712 |
| 2021-08-01 | $622,500 (-4.1%) | $1,291,987 (2.8%) | 1.65 | 44,180 |
| 2021-09-01 | $618,500 (-4.8%) | $1,294,946 (1.9%) | 1.61 | 43,158 |
| 2021-10-01 | $625,000 (-3.9%) | $1,312,885 (1.0%) | 1.65 | 43,093 |
| 2021-11-01 | $625,000 (-3.8%) | $1,361,690 (3.6%) | 1.66 | 38,713 |
| 2021-12-01 | $625,000 (-3.8%) | $1,394,618 (4.4%) | 1.68 | 32,598 |
| 2022-01-01 | $625,000 (-3.8%) | $1,504,762 (8.8%) | 1.69 | 27,898 |
| 2022-02-01 | $644,000 (-0.9%) | $1,450,307 (3.1%) | 1.66 | 28,275 |
| 2022-03-01 | $649,995 (0.2%) | $1,458,486 (4.9%) | 1.63 | 30,199 |
| 2022-04-01 | $669,000 (2.9%) | $1,456,215 (4.1%) | 1.57 | 31,856 |
| 2022-05-01 | $677,000 (4.2%) | $1,441,821 (3.9%) | 1.54 | 35,674 |
| 2022-06-01 | $677,000 (4.3%) | $1,388,419 (2.9%) | 1.50 | 38,371 |
| 2022-07-01 | $669,000 (6.4%) | $1,347,598 (3.1%) | 1.48 | 40,503 |
| 2022-08-01 | $659,000 (5.9%) | $1,330,826 (3.0%) | 1.50 | 39,661 |
| 2022-09-01 | $669,950 (8.3%) | $1,378,224 (6.4%) | 1.54 | 39,189 |
| 2022-10-01 | $675,000 (8.0%) | $1,467,986 (11.8%) | 1.59 | 39,578 |
| 2022-11-01 | $675,000 (8.0%) | $1,509,960 (10.9%) | 1.61 | 38,208 |
| 2022-12-01 | $670,000 (7.2%) | $1,533,266 (9.9%) | 1.63 | 33,581 |
| 2023-01-01 | $672,000 (7.5%) | $1,560,973 (3.7%) | 1.64 | 30,337 |
| 2023-02-01 | $688,972 (7.0%) | $1,590,325 (9.7%) | 1.64 | 29,853 |
| 2023-03-01 | $699,000 (7.5%) | $1,602,684 (9.9%) | 1.65 | 29,858 |
| 2023-04-01 | $701,690 (4.9%) | $1,624,018 (11.5%) | 1.63 | 31,008 |
| 2023-05-01 | $744,500 (10.0%) | $1,685,172 (16.9%) | 1.67 | 32,101 |
| 2023-06-01 | $749,000 (10.6%) | $1,637,472 (17.9%) | 1.68 | 32,923 |
| 2023-07-01 | $745,000 (11.4%) | $1,605,600 (19.2%) | 1.68 | 32,747 |
| 2023-08-01 | $725,000 (10.0%) | $1,569,186 (17.9%) | 1.65 | 32,397 |
| 2023-09-01 | $725,000 (8.2%) | $1,554,526 (12.8%) | 1.67 | 34,332 |
| 2023-10-01 | $737,000 (9.2%) | $1,621,804 (10.5%) | 1.72 | 33,514 |
| 2023-11-01 | $737,400 (9.2%) | $1,682,664 (11.4%) | 1.73 | 33,823 |
| 2023-12-01 | $748,000 (11.6%) | $1,777,494 (15.9%) | 1.79 | 28,830 |
| 2024-01-01 | $749,000 (11.5%) | $1,759,249 (12.7%) | 1.81 | 26,598 |
| 2024-02-01 | $752,500 (9.2%) | $1,702,306 (7.0%) | 1.80 | 26,866 |
| 2024-03-01 | $770,000 (10.2%) | $1,696,188 (5.8%) | 1.79 | 28,525 |
| 2024-04-01 | $775,000 (10.5%) | $1,704,077 (4.9%) | 1.79 | 30,602 |
| 2024-05-01 | $793,676 (6.6%) | $1,725,552 (2.4%) | 1.78 | 32,223 |
| 2024-06-01 | $779,999 (4.1%) | $1,658,746 (1.3%) | 1.77 | 33,850 |
| 2024-07-01 | $775,000 (4.0%) | $1,634,047 (1.8%) | 1.75 | 33,665 |
| 2024-08-01 | $759,000 (4.7%) | $1,594,139 (1.6%) | 1.74 | 33,000 |
| 2024-09-01 | $772,500 (6.6%) | $1,659,806 (6.8%) | 1.80 | 34,784 |
| 2024-10-01 | $774,847 (5.1%) | $1,664,983 (2.7%) | 1.79 | 34,793 |
| 2024-11-01 | $768,000 (4.2%) | $1,656,035 (-1.6%) | 1.80 | 33,340 |
| 2024-12-01 | $750,000 (0.3%) | $1,667,772 (-6.2%) | 1.86 | 28,853 |
| 2025-01-01 | $750,000 (0.1%) | $1,679,477 (-4.5%) | 0.00 | 26,691 |
New York's median listing price comes in at 0% of the national average.
New York's average listing price for 2025-01-01 was $1,679,477, a difference of $-79,772 (-4.5%) versus the prior year and $11,705 versus the prior month.
For the 2025-01-01 period, New York had 26,691 MLS listings, a difference of -2,162 listings (-7%) versus the prior month and 93 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 84 days | 1,843 sqft |
| 2018-02-01 | 72 days | 1,857 sqft |
| 2018-03-01 | 52 days | 1,880 sqft |
| 2018-04-01 | 51 days | 1,894 sqft |
| 2018-05-01 | 46 days | 1,909 sqft |
| 2018-06-01 | 50 days | 1,920 sqft |
| 2018-07-01 | 59 days | 1,920 sqft |
| 2018-08-01 | 65 days | 1,913 sqft |
| 2018-09-01 | 66 days | 1,900 sqft |
| 2018-10-01 | 64 days | 1,888 sqft |
| 2018-11-01 | 65 days | 1,866 sqft |
| 2018-12-01 | 78 days | 1,840 sqft |
| 2019-01-01 | 82 days | 1,821 sqft |
| 2019-02-01 | 73 days | 1,831 sqft |
| 2019-03-01 | 59 days | 1,865 sqft |
| 2019-04-01 | 50 days | 1,904 sqft |
| 2019-05-01 | 50 days | 1,919 sqft |
| 2019-06-01 | 55 days | 1,928 sqft |
| 2019-07-01 | 64 days | 1,920 sqft |
| 2019-08-01 | 67 days | 1,915 sqft |
| 2019-09-01 | 69 days | 1,906 sqft |
| 2019-10-01 | 70 days | 1,900 sqft |
| 2019-11-01 | 71 days | 1,850 sqft |
| 2019-12-01 | 85 days | 1,830 sqft |
| 2020-01-01 | 90 days | 1,817 sqft |
| 2020-02-01 | 75 days | 1,836 sqft |
| 2020-03-01 | 54 days | 1,850 sqft |
| 2020-04-01 | 71 days | 1,854 sqft |
| 2020-05-01 | 85 days | 1,863 sqft |
| 2020-06-01 | 86 days | 1,862 sqft |
| 2020-07-01 | 47 days | 1,803 sqft |
| 2020-08-01 | 47 days | 1,753 sqft |
| 2020-09-01 | 51 days | 1,701 sqft |
| 2020-10-01 | 51 days | 1,684 sqft |
| 2020-11-01 | 60 days | 1,648 sqft |
| 2020-12-01 | 74 days | 1,607 sqft |
| 2021-01-01 | 84 days | 1,566 sqft |
| 2021-02-01 | 78 days | 1,532 sqft |
| 2021-03-01 | 55 days | 1,530 sqft |
| 2021-04-01 | 44 days | 1,542 sqft |
| 2021-05-01 | 41 days | 1,563 sqft |
| 2021-06-01 | 44 days | 1,574 sqft |
| 2021-07-01 | 47 days | 1,584 sqft |
| 2021-08-01 | 53 days | 1,576 sqft |
| 2021-09-01 | 57 days | 1,556 sqft |
| 2021-10-01 | 57 days | 1,530 sqft |
| 2021-11-01 | 59 days | 1,504 sqft |
| 2021-12-01 | 70 days | 1,459 sqft |
| 2022-01-01 | 79 days | 1,428 sqft |
| 2022-02-01 | 60 days | 1,409 sqft |
| 2022-03-01 | 40 days | 1,430 sqft |
| 2022-04-01 | 39 days | 1,450 sqft |
| 2022-05-01 | 38 days | 1,505 sqft |
| 2022-06-01 | 39 days | 1,553 sqft |
| 2022-07-01 | 44 days | 1,566 sqft |
| 2022-08-01 | 54 days | 1,550 sqft |
| 2022-09-01 | 59 days | 1,545 sqft |
| 2022-10-01 | 59 days | 1,535 sqft |
| 2022-11-01 | 62 days | 1,525 sqft |
| 2022-12-01 | 75 days | 1,500 sqft |
| 2023-01-01 | 82 days | 1,483 sqft |
| 2023-02-01 | 75 days | 1,480 sqft |
| 2023-03-01 | 55 days | 1,483 sqft |
| 2023-04-01 | 50 days | 1,488 sqft |
| 2023-05-01 | 48 days | 1,500 sqft |
| 2023-06-01 | 51 days | 1,516 sqft |
| 2023-07-01 | 54 days | 1,540 sqft |
| 2023-08-01 | 59 days | 1,543 sqft |
| 2023-09-01 | 60 days | 1,548 sqft |
| 2023-10-01 | 56 days | 1,549 sqft |
| 2023-11-01 | 58 days | 1,551 sqft |
| 2023-12-01 | 71 days | 1,530 sqft |
| 2024-01-01 | 79 days | 1,500 sqft |
| 2024-02-01 | 69 days | 1,496 sqft |
| 2024-03-01 | 50 days | 1,500 sqft |
| 2024-04-01 | 45 days | 1,500 sqft |
| 2024-05-01 | 43 days | 1,530 sqft |
| 2024-06-01 | 45 days | 1,550 sqft |
| 2024-07-01 | 52 days | 1,563 sqft |
| 2024-08-01 | 58 days | 1,550 sqft |
| 2024-09-01 | 57 days | 1,556 sqft |
| 2024-10-01 | 54 days | 1,550 sqft |
| 2024-11-01 | 60 days | 1,535 sqft |
| 2024-12-01 | 73 days | 1,494 sqft |
| 2025-01-01 | 0 days | 1,482 sqft |
New York's median square footage for active listings during the 2025-01-01 period was 1,482 sqft. One year prior, the average listing was 1,500 sqft.