Pittsfield VA Loan Rates, Closing Costs & Stats

PITTSFIELD, MA

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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.

    Pittsfield's 18 lenders originated 51 VA loans during 2023. The total origination value was $13,185,000, with an average VA loan value of $258,529.

    Pittsfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Pittsfield averaged 5.88% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Pittsfield's average VA mortgage closing costs are $5,542.

    The average rate for the prior week (2024-12-06) was 5.81% and one month ago for the week of 2024-11-08, the average rate was 5.81%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.46%.

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

    Pittsfield 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 Pittsfield level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 14 6.73% $8,049
    QUICKEN LOANS, LLC 7 6.41% $9,244
    ACADEMY MORTGAGE CORPORATION 6 6.90% $4,009
    NAVY FEDERAL CREDIT UNION 4 5.88% $6,107
    MOVEMENT MORTGAGE, LLC 2 6.31% $8,596
    PENNYMAC LOAN SERVICES, LLC 2 4.94% $3,224
    LOANDEPOT.COM, LLC 2 6.75% $9,488
    AMERISAVE MORTGAGE CORPORATION 2 6.75% $8,503
    UNITED WHOLESALE MORTGAGE, LLC 1 7.63% $8,020
    USAA Federal Savings Bank 1 5.63% $10,603
    VILLAGE CAPITAL MORTGAGE 1 6.25% $4,894
    Adams Community Bank 1 5.75% $3,340
    FREEDOM MORTGAGE CORPORATION 1 6.25% $11,542
    LEADERONE FINANCIAL CORPORATION 1 6.75% $1,474
    NEWREZ LLC 1 6.50% $12,772
    NORTHPOINT MORTGAGE, INC. 1 6.25% $16,834
    NORWICH COMMERCIAL GROUP, INC. 1 6.75% $14,471
    The Federal Savings Bank 1 7.25% $15,750

    The top Pittsfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $8,049, which is $1,195 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Pittsfield VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,049), .

    The lowest rate Pittsfield VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.73%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Pittsfield (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 $352,250 (17.5%) $526,672 (-4.7%) 1.31 854
    2018-02-01 $364,450 (12.1%) $527,727 (-9.0%) 1.32 850
    2018-03-01 $379,250 (13.3%) $554,002 (-6.6%) 1.33 844
    2018-04-01 $389,125 (12.8%) $564,965 (-3.4%) 1.32 884
    2018-05-01 $396,500 (13.5%) $562,723 (-2.1%) 1.32 946
    2018-06-01 $379,000 (8.0%) $551,844 (-3.7%) 1.26 1,037
    2018-07-01 $369,000 (5.4%) $534,923 (-5.4%) 1.23 1,119
    2018-08-01 $366,500 (4.7%) $532,574 (-4.2%) 1.23 1,144
    2018-09-01 $359,000 (2.6%) $528,740 (-4.0%) 1.21 1,138
    2018-10-01 $357,000 (2.0%) $549,234 (0.9%) 1.21 1,128
    2018-11-01 $369,450 (-1.4%) $573,651 (5.2%) 1.25 1,029
    2018-12-01 $374,900 (1.6%) $582,366 (8.7%) 1.29 943
    2019-01-01 $361,000 (2.5%) $588,845 (11.8%) 1.25 827
    2019-02-01 $370,225 (1.6%) $600,562 (13.8%) 1.25 805
    2019-03-01 $374,943 (-1.1%) $606,219 (9.4%) 1.23 809
    2019-04-01 $374,993 (-3.6%) $601,617 (6.5%) 1.19 853
    2019-05-01 $369,000 (-6.9%) $600,885 (6.8%) 1.15 936
    2019-06-01 $369,000 (-2.6%) $579,866 (5.1%) 1.15 1,051
    2019-07-01 $372,175 (0.9%) $576,932 (7.9%) 1.17 1,113
    2019-08-01 $373,364 (1.9%) $578,296 (8.6%) 1.18 1,091
    2019-09-01 $370,909 (3.3%) $575,053 (8.8%) 1.19 1,051
    2019-10-01 $369,000 (3.4%) $574,532 (4.6%) 1.19 1,011
    2019-11-01 $369,250 (-0.1%) $602,672 (5.1%) 1.21 923
    2019-12-01 $383,450 (2.3%) $694,079 (19.2%) 1.28 777
    2020-01-01 $391,500 (8.5%) $713,809 (21.2%) 1.31 668
    2020-02-01 $389,000 (5.1%) $724,616 (20.7%) 1.27 645
    2020-03-01 $399,450 (6.5%) $724,527 (19.5%) 1.25 677
    2020-04-01 $404,113 (7.8%) $737,263 (22.6%) 1.27 671
    2020-05-01 $425,000 (15.2%) $736,884 (22.6%) 1.29 708
    2020-06-01 $449,725 (21.9%) $752,378 (29.8%) 1.32 704
    2020-07-01 $430,000 (15.5%) $763,395 (32.3%) 1.25 653
    2020-08-01 $449,000 (20.3%) $785,575 (35.8%) 1.29 613
    2020-09-01 $454,500 (22.5%) $784,607 (36.4%) 1.30 590
    2020-10-01 $449,000 (21.7%) $839,892 (46.2%) 1.29 545
    2020-11-01 $422,000 (14.3%) $936,397 (55.4%) 1.23 477
    2020-12-01 $409,500 (6.8%) $952,918 (37.3%) 1.22 420
    2021-01-01 $432,500 (10.5%) $1,025,096 (43.6%) 1.29 334
    2021-02-01 $501,875 (29.0%) $948,451 (30.9%) 1.46 271
    2021-03-01 $529,000 (32.4%) $995,601 (37.4%) 1.50 242
    2021-04-01 $525,000 (29.9%) $1,026,983 (39.3%) 1.42 251
    2021-05-01 $499,450 (17.5%) $988,820 (34.2%) 1.33 294
    2021-06-01 $475,000 (5.6%) $951,161 (26.4%) 1.25 360
    2021-07-01 $472,450 (9.9%) $942,275 (23.4%) 1.25 400
    2021-08-01 $487,000 (8.5%) $890,220 (13.3%) 1.30 437
    2021-09-01 $475,000 (4.5%) $905,162 (15.4%) 1.27 447
    2021-10-01 $449,000 (0.0%) $831,550 (-1.0%) 1.20 431
    2021-11-01 $426,175 (1.0%) $822,829 (-12.1%) 1.14 377
    2021-12-01 $422,475 (3.2%) $831,083 (-12.8%) 1.14 302
    2022-01-01 $430,950 (-0.4%) $911,018 (-11.1%) 1.17 242
    2022-02-01 $439,225 (-12.5%) $977,742 (3.1%) 1.14 201
    2022-03-01 $449,900 (-15.0%) $1,011,135 (1.6%) 1.13 195
    2022-04-01 $425,000 (-19.1%) $998,477 (-2.8%) 1.01 199
    2022-05-01 $447,225 (-10.5%) $881,658 (-10.8%) 1.02 244
    2022-06-01 $461,250 (-2.9%) $915,448 (-3.8%) 1.03 281
    2022-07-01 $449,450 (-4.9%) $877,778 (-6.8%) 1.01 350
    2022-08-01 $458,225 (-5.9%) $927,374 (4.2%) 1.06 336
    2022-09-01 $439,500 (-7.5%) $936,813 (3.5%) 1.03 349
    2022-10-01 $449,000 (0.0%) $904,402 (8.8%) 1.06 348
    2022-11-01 $447,000 (4.9%) $930,557 (13.1%) 1.07 300
    2022-12-01 $447,000 (5.8%) $963,607 (16.0%) 1.10 255
    2023-01-01 $470,725 (9.2%) $1,059,000 (16.2%) 1.17 213
    2023-02-01 $476,675 (8.5%) $1,159,235 (18.6%) 1.15 205
    2023-03-01 $509,500 (13.3%) $1,121,234 (10.9%) 1.20 203
    2023-04-01 $485,000 (14.1%) $932,455 (-6.6%) 1.13 249
    2023-05-01 $507,450 (13.5%) $1,022,174 (15.9%) 1.15 269
    2023-06-01 $496,000 (7.5%) $1,004,764 (9.8%) 1.11 308
    2023-07-01 $525,000 (16.8%) $1,036,142 (18.0%) 1.19 337
    2023-08-01 $519,675 (13.4%) $1,011,323 (9.1%) 1.19 365
    2023-09-01 $522,450 (18.9%) $992,913 (6.0%) 1.22 365
    2023-10-01 $522,000 (16.3%) $964,990 (6.7%) 1.23 356
    2023-11-01 $524,975 (17.4%) $952,578 (2.4%) 1.25 355
    2023-12-01 $482,000 (7.8%) $940,243 (-2.4%) 1.18 330
    2024-01-01 $450,000 (-4.4%) $937,190 (-11.5%) 1.10 270
    2024-02-01 $469,975 (-1.4%) $981,238 (-15.4%) 1.13 251
    2024-03-01 $499,000 (-2.1%) $1,030,653 (-8.1%) 1.17 244
    2024-04-01 $542,500 (11.9%) $1,082,465 (16.1%) 1.26 257
    2024-05-01 $599,450 (18.1%) $1,239,155 (21.2%) 1.35 280
    2024-06-01 $599,000 (20.8%) $1,193,809 (18.8%) 1.35 333
    2024-07-01 $563,500 (7.3%) $1,081,031 (4.3%) 1.29 403
    2024-08-01 $542,000 (4.3%) $1,021,541 (1.0%) 1.26 429
    2024-09-01 $549,000 (5.1%) $1,010,420 (1.8%) 1.29 453
    2024-10-01 $537,475 (3.0%) $957,471 (-0.8%) 1.26 476
    2024-11-01 $525,000 (0.0%) $912,362 (-4.2%) 1.26 457
    Pittsfield's median listing price for 2024-11-01 was $525,000, a difference of $25 (0.0%) versus the prior year and $-12,475 versus the prior month.

    Pittsfield's median listing price comes in at 126% of the national average.

    Pittsfield's average listing price for 2024-11-01 was $912,362, a difference of $-40,216 (-4.2%) versus the prior year and $-45,109 versus the prior month.

    For the 2024-11-01 period, Pittsfield had 457 MLS listings, a difference of -19 listings (-4%) versus the prior month and 102 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pittsfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 128 days 2,036 sqft
    2018-02-01 134 days 2,028 sqft
    2018-03-01 134 days 2,040 sqft
    2018-04-01 119 days 2,060 sqft
    2018-05-01 84 days 2,060 sqft
    2018-06-01 68 days 2,009 sqft
    2018-07-01 66 days 2,000 sqft
    2018-08-01 73 days 2,023 sqft
    2018-09-01 84 days 1,997 sqft
    2018-10-01 93 days 1,973 sqft
    2018-11-01 104 days 2,035 sqft
    2018-12-01 115 days 2,043 sqft
    2019-01-01 119 days 1,990 sqft
    2019-02-01 128 days 2,003 sqft
    2019-03-01 118 days 2,009 sqft
    2019-04-01 97 days 2,004 sqft
    2019-05-01 72 days 2,014 sqft
    2019-06-01 67 days 2,003 sqft
    2019-07-01 72 days 2,001 sqft
    2019-08-01 80 days 2,007 sqft
    2019-09-01 89 days 1,993 sqft
    2019-10-01 97 days 1,979 sqft
    2019-11-01 101 days 2,001 sqft
    2019-12-01 112 days 2,023 sqft
    2020-01-01 122 days 2,021 sqft
    2020-02-01 130 days 2,016 sqft
    2020-03-01 118 days 2,106 sqft
    2020-04-01 107 days 2,127 sqft
    2020-05-01 95 days 2,136 sqft
    2020-06-01 86 days 2,126 sqft
    2020-07-01 59 days 2,088 sqft
    2020-08-01 58 days 2,086 sqft
    2020-09-01 50 days 2,052 sqft
    2020-10-01 57 days 2,086 sqft
    2020-11-01 71 days 2,030 sqft
    2020-12-01 86 days 2,013 sqft
    2021-01-01 98 days 2,050 sqft
    2021-02-01 101 days 2,210 sqft
    2021-03-01 72 days 2,221 sqft
    2021-04-01 38 days 2,183 sqft
    2021-05-01 36 days 2,152 sqft
    2021-06-01 37 days 2,138 sqft
    2021-07-01 41 days 2,148 sqft
    2021-08-01 46 days 2,105 sqft
    2021-09-01 51 days 2,102 sqft
    2021-10-01 61 days 1,992 sqft
    2021-11-01 69 days 1,921 sqft
    2021-12-01 79 days 1,846 sqft
    2022-01-01 103 days 1,854 sqft
    2022-02-01 95 days 1,865 sqft
    2022-03-01 64 days 1,882 sqft
    2022-04-01 40 days 1,842 sqft
    2022-05-01 35 days 1,899 sqft
    2022-06-01 34 days 1,897 sqft
    2022-07-01 38 days 1,844 sqft
    2022-08-01 49 days 1,905 sqft
    2022-09-01 53 days 1,805 sqft
    2022-10-01 61 days 1,843 sqft
    2022-11-01 70 days 1,882 sqft
    2022-12-01 82 days 1,906 sqft
    2023-01-01 98 days 1,908 sqft
    2023-02-01 95 days 1,875 sqft
    2023-03-01 72 days 1,895 sqft
    2023-04-01 44 days 1,932 sqft
    2023-05-01 45 days 2,016 sqft
    2023-06-01 42 days 1,966 sqft
    2023-07-01 46 days 1,997 sqft
    2023-08-01 50 days 1,985 sqft
    2023-09-01 53 days 1,935 sqft
    2023-10-01 68 days 1,927 sqft
    2023-11-01 68 days 1,885 sqft
    2023-12-01 73 days 1,891 sqft
    2024-01-01 87 days 1,849 sqft
    2024-02-01 92 days 1,867 sqft
    2024-03-01 74 days 1,863 sqft
    2024-04-01 62 days 1,885 sqft
    2024-05-01 45 days 2,019 sqft
    2024-06-01 37 days 2,077 sqft
    2024-07-01 46 days 2,012 sqft
    2024-08-01 54 days 1,966 sqft
    2024-09-01 58 days 2,005 sqft
    2024-10-01 63 days 2,004 sqft
    2024-11-01 71 days 1,960 sqft
    Pittsfield's median listing age (time on market) for 2024-11-01 was 71 days. This is 5% longer than the same period one year ago.

    Pittsfield's median square footage for active listings during the 2024-11-01 period was 1,960 sqft. One year prior, the average listing was 1,885 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.