Newark VA Loan Rates, Closing Costs & Stats
NEWARK, 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.
Newark VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Newark
averaged
0%
for the week of 2024-01-12, compared to the national average (all VA variants) of
6.19% for the same period.
Newark's average VA mortgage closing costs are $0.
The average rate for the prior week (2024-01-05) was
0% and
one month ago for the week of 2023-12-08, the
average rate was 0%.
The average rate one year ago was 0%.
For refis of the same type during the week of 2024-01-12, the average rate
was 0%.
Newark 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 Newark level.
Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
---|
The lowest fee Newark VA lenders (with over 10 loans originated) are
.
The lowest rate Newark VA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Newark (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $504,500 (12.2%) | $1,202,009 (11.3%) | 1.87 | 47,158 |
2018-02-01 | $525,000 (13.2%) | $1,203,943 (6.8%) | 1.91 | 49,638 |
2018-03-01 | $539,900 (11.9%) | $1,180,932 (3.9%) | 1.89 | 53,177 |
2018-04-01 | $551,900 (10.6%) | $1,177,477 (1.1%) | 1.87 | 56,291 |
2018-05-01 | $569,000 (10.7%) | $1,170,935 (1.1%) | 1.90 | 61,348 |
2018-06-01 | $569,367 (9.5%) | $1,153,130 (-0.1%) | 1.90 | 64,303 |
2018-07-01 | $564,000 (8.7%) | $1,133,583 (-0.8%) | 1.88 | 64,928 |
2018-08-01 | $550,000 (10.1%) | $1,099,915 (-1.9%) | 1.84 | 64,090 |
2018-09-01 | $559,000 (10.7%) | $1,107,860 (-2.7%) | 1.88 | 64,664 |
2018-10-01 | $559,000 (7.0%) | $1,118,444 (-4.1%) | 1.89 | 65,014 |
2018-11-01 | $559,000 (7.6%) | $1,130,080 (-3.5%) | 1.89 | 62,641 |
2018-12-01 | $549,000 (7.7%) | $1,130,073 (-4.4%) | 1.89 | 56,644 |
2019-01-01 | $545,000 (8.0%) | $1,129,587 (-6.0%) | 1.88 | 52,144 |
2019-02-01 | $549,450 (4.7%) | $1,141,883 (-5.2%) | 1.86 | 54,156 |
2019-03-01 | $562,429 (4.2%) | $1,142,411 (-3.3%) | 1.84 | 57,715 |
2019-04-01 | $579,000 (4.9%) | $1,138,189 (-3.3%) | 1.84 | 61,682 |
2019-05-01 | $595,000 (4.6%) | $1,143,149 (-2.4%) | 1.86 | 67,048 |
2019-06-01 | $595,000 (4.5%) | $1,134,417 (-1.6%) | 1.86 | 68,876 |
2019-07-01 | $582,500 (3.3%) | $1,121,551 (-1.1%) | 1.82 | 67,787 |
2019-08-01 | $581,282 (5.7%) | $1,115,811 (1.5%) | 1.84 | 66,920 |
2019-09-01 | $583,373 (4.4%) | $1,128,519 (1.9%) | 1.87 | 66,091 |
2019-10-01 | $585,000 (4.7%) | $1,138,609 (1.8%) | 1.89 | 64,992 |
2019-11-01 | $579,000 (3.6%) | $1,151,344 (1.9%) | 1.90 | 61,214 |
2019-12-01 | $579,000 (5.5%) | $1,177,570 (4.2%) | 1.93 | 53,427 |
2020-01-01 | $572,444 (5.0%) | $1,186,478 (5.0%) | 1.91 | 49,253 |
2020-02-01 | $579,900 (5.5%) | $1,189,767 (4.2%) | 1.90 | 50,655 |
2020-03-01 | $599,000 (6.5%) | $1,194,673 (4.6%) | 1.88 | 52,117 |
2020-04-01 | $599,000 (3.5%) | $1,235,772 (8.6%) | 1.88 | 48,240 |
2020-05-01 | $599,000 (0.7%) | $1,210,595 (5.9%) | 1.82 | 47,907 |
2020-06-01 | $607,500 (2.1%) | $1,202,565 (6.0%) | 1.79 | 50,560 |
2020-07-01 | $629,500 (8.1%) | $1,216,702 (8.5%) | 1.82 | 53,810 |
2020-08-01 | $649,000 (11.7%) | $1,257,417 (12.7%) | 1.86 | 53,863 |
2020-09-01 | $649,450 (11.3%) | $1,270,416 (12.6%) | 1.86 | 54,156 |
2020-10-01 | $650,000 (11.1%) | $1,299,649 (14.1%) | 1.86 | 55,225 |
2020-11-01 | $649,950 (12.3%) | $1,314,329 (14.2%) | 1.90 | 51,805 |
2020-12-01 | $649,950 (12.3%) | $1,335,856 (13.4%) | 1.93 | 46,559 |
2021-01-01 | $649,900 (13.5%) | $1,382,468 (16.5%) | 1.94 | 40,167 |
2021-02-01 | $650,000 (12.1%) | $1,405,632 (18.1%) | 1.89 | 38,479 |
2021-03-01 | $649,000 (8.4%) | $1,389,414 (16.3%) | 1.84 | 38,238 |
2021-04-01 | $650,000 (8.5%) | $1,398,927 (13.2%) | 1.76 | 39,849 |
2021-05-01 | $650,000 (8.5%) | $1,386,816 (14.6%) | 1.73 | 42,006 |
2021-06-01 | $649,000 (6.8%) | $1,349,421 (12.2%) | 1.71 | 44,486 |
2021-07-01 | $629,000 (-0.1%) | $1,306,847 (7.4%) | 1.66 | 44,713 |
2021-08-01 | $622,500 (-4.1%) | $1,291,473 (2.7%) | 1.66 | 44,179 |
2021-09-01 | $618,500 (-4.8%) | $1,294,429 (1.9%) | 1.65 | 43,157 |
2021-10-01 | $625,000 (-3.9%) | $1,312,849 (1.0%) | 1.67 | 43,094 |
2021-11-01 | $625,000 (-3.8%) | $1,361,693 (3.6%) | 1.67 | 38,713 |
2021-12-01 | $625,000 (-3.8%) | $1,394,619 (4.4%) | 1.69 | 32,599 |
2022-01-01 | $625,000 (-3.8%) | $1,504,746 (8.8%) | 1.69 | 27,899 |
2022-02-01 | $644,000 (-0.9%) | $1,450,293 (3.2%) | 1.67 | 28,276 |
2022-03-01 | $649,995 (0.2%) | $1,458,481 (5.0%) | 1.63 | 30,200 |
2022-04-01 | $669,000 (2.9%) | $1,456,264 (4.1%) | 1.59 | 31,854 |
2022-05-01 | $677,000 (4.2%) | $1,441,815 (4.0%) | 1.55 | 35,675 |
2022-06-01 | $677,000 (4.3%) | $1,388,381 (2.9%) | 1.51 | 38,375 |
2022-07-01 | $669,000 (6.4%) | $1,347,547 (3.1%) | 1.51 | 40,505 |
2022-08-01 | $659,000 (5.9%) | $1,330,805 (3.1%) | 1.52 | 39,663 |
2022-09-01 | $669,950 (8.3%) | $1,378,150 (6.5%) | 1.57 | 39,194 |
2022-10-01 | $675,000 (8.0%) | $1,467,863 (11.8%) | 1.59 | 39,584 |
2022-11-01 | $675,000 (8.0%) | $1,509,917 (10.9%) | 1.62 | 38,210 |
2022-12-01 | $670,000 (7.2%) | $1,533,197 (9.9%) | 1.65 | 33,584 |
2023-01-01 | $672,000 (7.5%) | $1,560,947 (3.7%) | 1.66 | 30,337 |
2023-02-01 | $689,000 (7.0%) | $1,590,337 (9.7%) | 1.66 | 29,853 |
2023-03-01 | $699,000 (7.5%) | $1,602,684 (9.9%) | 1.65 | 29,858 |
2023-04-01 | $701,390 (4.8%) | $1,624,018 (11.5%) | 1.63 | 31,009 |
2023-05-01 | $744,500 (10.0%) | $1,685,175 (16.9%) | 1.69 | 32,100 |
2023-06-01 | $749,000 (10.6%) | $1,637,529 (18.0%) | 1.68 | 32,921 |
2023-07-01 | $745,000 (11.4%) | $1,605,623 (19.2%) | 1.69 | 32,746 |
2023-08-01 | $725,000 (10.0%) | $1,569,227 (17.9%) | 1.66 | 32,396 |
2023-09-01 | $725,000 (8.2%) | $1,554,575 (12.8%) | 1.69 | 34,330 |
2023-10-01 | $737,000 (9.2%) | $1,621,844 (10.5%) | 1.73 | 33,513 |
2023-11-01 | $737,450 (9.3%) | $1,682,736 (11.5%) | 1.76 | 33,821 |
2023-12-01 | $748,000 (11.6%) | $1,777,508 (15.9%) | 1.82 | 28,830 |
Newark's median listing price comes in at 182% of the national average.
Newark's average listing price for 2023-12-01 was $1,777,508, a difference of $244,311 (15.9%) versus the prior year and $94,772 versus the prior month.
For the 2023-12-01 period, Newark had 28,830 MLS listings, a difference of -4,991 listings (-15%) versus the prior month and -4,754 listings (-14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Newark (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 83 days | 1,842 sqft |
2018-02-01 | 72 days | 1,855 sqft |
2018-03-01 | 52 days | 1,880 sqft |
2018-04-01 | 50 days | 1,893 sqft |
2018-05-01 | 46 days | 1,907 sqft |
2018-06-01 | 50 days | 1,918 sqft |
2018-07-01 | 59 days | 1,919 sqft |
2018-08-01 | 64 days | 1,911 sqft |
2018-09-01 | 66 days | 1,899 sqft |
2018-10-01 | 63 days | 1,887 sqft |
2018-11-01 | 65 days | 1,863 sqft |
2018-12-01 | 78 days | 1,838 sqft |
2019-01-01 | 82 days | 1,820 sqft |
2019-02-01 | 73 days | 1,827 sqft |
2019-03-01 | 59 days | 1,863 sqft |
2019-04-01 | 50 days | 1,904 sqft |
2019-05-01 | 50 days | 1,918 sqft |
2019-06-01 | 55 days | 1,925 sqft |
2019-07-01 | 64 days | 1,920 sqft |
2019-08-01 | 67 days | 1,915 sqft |
2019-09-01 | 68 days | 1,906 sqft |
2019-10-01 | 69 days | 1,900 sqft |
2019-11-01 | 71 days | 1,848 sqft |
2019-12-01 | 85 days | 1,825 sqft |
2020-01-01 | 90 days | 1,809 sqft |
2020-02-01 | 75 days | 1,832 sqft |
2020-03-01 | 54 days | 1,850 sqft |
2020-04-01 | 71 days | 1,850 sqft |
2020-05-01 | 85 days | 1,861 sqft |
2020-06-01 | 85 days | 1,858 sqft |
2020-07-01 | 47 days | 1,802 sqft |
2020-08-01 | 47 days | 1,752 sqft |
2020-09-01 | 51 days | 1,701 sqft |
2020-10-01 | 51 days | 1,684 sqft |
2020-11-01 | 60 days | 1,647 sqft |
2020-12-01 | 74 days | 1,606 sqft |
2021-01-01 | 84 days | 1,564 sqft |
2021-02-01 | 78 days | 1,531 sqft |
2021-03-01 | 55 days | 1,529 sqft |
2021-04-01 | 44 days | 1,541 sqft |
2021-05-01 | 41 days | 1,560 sqft |
2021-06-01 | 44 days | 1,572 sqft |
2021-07-01 | 47 days | 1,582 sqft |
2021-08-01 | 53 days | 1,576 sqft |
2021-09-01 | 57 days | 1,555 sqft |
2021-10-01 | 57 days | 1,530 sqft |
2021-11-01 | 58 days | 1,504 sqft |
2021-12-01 | 70 days | 1,455 sqft |
2022-01-01 | 79 days | 1,424 sqft |
2022-02-01 | 60 days | 1,405 sqft |
2022-03-01 | 40 days | 1,427 sqft |
2022-04-01 | 39 days | 1,446 sqft |
2022-05-01 | 38 days | 1,503 sqft |
2022-06-01 | 39 days | 1,549 sqft |
2022-07-01 | 44 days | 1,558 sqft |
2022-08-01 | 54 days | 1,544 sqft |
2022-09-01 | 59 days | 1,538 sqft |
2022-10-01 | 59 days | 1,525 sqft |
2022-11-01 | 62 days | 1,513 sqft |
2022-12-01 | 75 days | 1,500 sqft |
2023-01-01 | 82 days | 1,472 sqft |
2023-02-01 | 75 days | 1,468 sqft |
2023-03-01 | 55 days | 1,474 sqft |
2023-04-01 | 50 days | 1,480 sqft |
2023-05-01 | 48 days | 1,500 sqft |
2023-06-01 | 51 days | 1,507 sqft |
2023-07-01 | 54 days | 1,535 sqft |
2023-08-01 | 59 days | 1,541 sqft |
2023-09-01 | 60 days | 1,547 sqft |
2023-10-01 | 56 days | 1,552 sqft |
2023-11-01 | 58 days | 1,553 sqft |
2023-12-01 | 71 days | 1,536 sqft |
Newark's median square footage for active listings during the 2023-12-01 period was 1,536 sqft. One year prior, the average listing was 1,500 sqft.