Rochester VA Loan Rates, Closing Costs & Stats

ROCHESTER, NY

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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.

    Rochester's 53 lenders originated 401 VA loans during 2023. The total origination value was $94,365,000, with an average VA loan value of $235,324.

    Rochester VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Rochester averaged 6.81% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Rochester's average VA mortgage closing costs are $5,269.

    The average rate for the prior week (2025-02-07) was 6.64% and one month ago for the week of 2025-01-10, the average rate was 6.88%.

    The average rate one year ago was 6.7%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.71%.

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

    Rochester 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 Rochester level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Premium Mortgage Corporation 61 6.67% $5,805
    QUICKEN LOANS, LLC 58 6.39% $9,306
    Mortgage Research Center, LLC 53 6.74% $6,063
    NAVY FEDERAL CREDIT UNION 27 5.80% $5,578
    PRIMELENDING, A PLAINSCAPITAL COMPANY 19 6.86% $6,150
    Genesee Regional Bank 16 7.13% $8,758
    Barrington Bank & Trust Company, N.A. 13 6.64% $7,132
    UNITED WHOLESALE MORTGAGE, LLC 11 6.65% $6,190
    MOVEMENT MORTGAGE, LLC 10 6.81% $5,887
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 7.23% $6,885
    NVR Mortgage Finance, Inc. 7 5.05% $9,448
    PLAZA HOME MORTGAGE, INC. 7 6.68% $5,247
    Mr. Cooper ( Nationstar Mortgage ) 6 6.06% $13,020
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.85% $8,071
    USAA Federal Savings Bank 5 7.05% $9,135
    RELIANCE FIRST CAPITAL, LLC 5 6.88% $8,150
    FREEDOM MORTGAGE CORPORATION 5 6.85% $23,190
    HOME TOWN FUNDING, INC. 4 6.88% $5,945
    ESL Federal Credit Union 4 6.84% $6,021
    Wells Fargo Bank 3 5.92% $3,661
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.33% $8,217
    Flagstar Bank, FSB 3 6.71% $3,297
    HUNT MORTGAGE CORPORATION 3 7.33% $7,152
    JPMorgan Chase Bank 3 5.96% $1,397
    M&T Bank 3 6.83% $9,288
    NBKC BANK 3 6.71% $5,484
    1ST PRIORITY MORTGAGE, INC. 2 6.31% $7,285
    KeyBank 2 6.38% $10,456
    Citizens Bank 2 5.63% $13,902
    U.S. Bank 2 7.50% $5,455
    LOANDEPOT.COM, LLC 2 6.88% $6,868
    AMERICAN FINANCIAL NETWORK, INC. 2 6.63% $7,591
    CMG MORTGAGE, INC. 1 7.25% $7,842
    NEWREZ LLC 1 6.75% $6,073
    PHH Mortgage Corporation 1 5.63% $6,794
    PLANET HOME LENDING, LLC 1 6.25% $6,142
    Carrington Mortgage Services, LLC 1 6.13% $1,169
    PREMIA MORTGAGE, LLC 1 6.75% $5,155
    CARDINAL FINANCIAL 1 6.25% $4,798
    Bank of America 1 6.88% $0
    AMERICAN FINANCING CORPORATION 1 7.50% $11,465
    ROYAL UNITED MORTGAGE LLC 1 7.25% $7,231
    The Federal Savings Bank 1 5.75% $8,875
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.99% $11,203
    HOMESTEAD FUNDING CORP. 1 5.63% $7,751
    First Federal Bank 1 5.75% $10,367
    Academy Bank 1 7.00% $20,524
    ALLIED MORTGAGE GROUP, INC. 1 7.13% $5,716
    Magnolia Bank 1 6.75% $12,886
    Meridian Bank Corporation 1 7.63% $19,883
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $8,394
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $580
    CONTOUR MORTGAGE CORPORATION 1 7.00% $4,799

    The top Rochester VA lender as defined by loan originations is Premium Mortgage Corporation, with 61 VA loans originated. Their average total fees are $5,805, which is $3,501 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Rochester VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($5,578), Premium Mortgage Corporation ($5,805), MOVEMENT MORTGAGE, LLC ($5,887), Mortgage Research Center, LLC ($6,063) and PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,150).

    The lowest rate Rochester VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.80%), QUICKEN LOANS, LLC (6.39%), Barrington Bank & Trust Company, N.A. (6.64%), UNITED WHOLESALE MORTGAGE, LLC (6.65%) and Premium Mortgage Corporation (6.67%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Rochester (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 $159,900 (10.0%) $218,374 (8.8%) 0.59 2,009
    2018-02-01 $169,425 (13.0%) $222,962 (5.9%) 0.62 1,970
    2018-03-01 $179,900 (12.5%) $230,960 (6.8%) 0.63 2,015
    2018-04-01 $189,900 (11.8%) $238,634 (7.2%) 0.66 2,161
    2018-05-01 $193,875 (10.8%) $241,742 (4.5%) 0.66 2,358
    2018-06-01 $190,000 (7.7%) $245,902 (6.3%) 0.65 2,583
    2018-07-01 $189,450 (8.3%) $239,466 (2.5%) 0.63 2,722
    2018-08-01 $184,900 (8.8%) $234,887 (2.1%) 0.62 2,807
    2018-09-01 $180,000 (5.9%) $229,836 (0.7%) 0.62 2,772
    2018-10-01 $179,450 (7.7%) $227,792 (0.0%) 0.61 2,719
    2018-11-01 $174,700 (5.9%) $226,544 (-0.1%) 0.59 2,524
    2018-12-01 $179,450 (8.8%) $230,415 (1.8%) 0.62 2,178
    2019-01-01 $187,350 (17.2%) $237,367 (8.7%) 0.65 1,827
    2019-02-01 $194,744 (14.9%) $248,637 (11.5%) 0.66 1,751
    2019-03-01 $210,336 (16.9%) $265,827 (15.1%) 0.69 1,736
    2019-04-01 $227,675 (19.9%) $287,410 (20.4%) 0.73 1,744
    2019-05-01 $229,900 (18.6%) $290,420 (20.1%) 0.72 1,833
    2019-06-01 $229,600 (20.8%) $270,406 (10.0%) 0.72 1,988
    2019-07-01 $227,184 (19.9%) $269,170 (12.4%) 0.72 2,086
    2019-08-01 $218,082 (18.0%) $268,594 (14.4%) 0.69 2,131
    2019-09-01 $207,855 (15.5%) $265,780 (15.6%) 0.67 2,180
    2019-10-01 $199,900 (11.4%) $263,229 (15.6%) 0.65 2,199
    2019-11-01 $199,900 (14.4%) $262,480 (15.9%) 0.66 1,962
    2019-12-01 $199,900 (11.4%) $260,188 (12.9%) 0.67 1,702
    2020-01-01 $201,912 (7.8%) $260,490 (9.7%) 0.67 1,462
    2020-02-01 $224,900 (15.5%) $267,241 (7.5%) 0.74 1,342
    2020-03-01 $235,022 (11.7%) $277,509 (4.4%) 0.74 1,397
    2020-04-01 $249,923 (9.8%) $291,895 (1.6%) 0.78 1,306
    2020-05-01 $250,000 (8.7%) $299,273 (3.1%) 0.76 1,304
    2020-06-01 $240,000 (4.5%) $292,750 (8.3%) 0.72 1,419
    2020-07-01 $245,377 (8.0%) $298,294 (10.8%) 0.72 1,384
    2020-08-01 $239,900 (10.0%) $287,885 (7.2%) 0.69 1,343
    2020-09-01 $221,450 (6.5%) $273,895 (3.1%) 0.64 1,338
    2020-10-01 $221,225 (10.7%) $279,751 (6.3%) 0.64 1,273
    2020-11-01 $224,900 (12.5%) $289,613 (10.3%) 0.66 1,132
    2020-12-01 $229,950 (15.0%) $299,843 (15.2%) 0.69 901
    2021-01-01 $249,000 (23.3%) $309,830 (18.9%) 0.75 772
    2021-02-01 $264,900 (17.8%) $320,270 (19.8%) 0.80 709
    2021-03-01 $254,900 (8.5%) $311,913 (12.4%) 0.74 744
    2021-04-01 $236,450 (-5.4%) $301,778 (3.4%) 0.67 780
    2021-05-01 $235,000 (-6.0%) $298,342 (-0.3%) 0.65 831
    2021-06-01 $236,944 (-1.3%) $298,956 (2.1%) 0.63 976
    2021-07-01 $229,900 (-6.3%) $294,310 (-1.3%) 0.63 1,047
    2021-08-01 $219,900 (-8.3%) $292,388 (1.6%) 0.61 1,039
    2021-09-01 $199,925 (-9.7%) $281,216 (2.7%) 0.57 1,036
    2021-10-01 $199,950 (-9.6%) $281,125 (0.5%) 0.56 933
    2021-11-01 $199,325 (-11.4%) $278,419 (-3.9%) 0.53 801
    2021-12-01 $193,150 (-16.0%) $284,405 (-5.2%) 0.53 654
    2022-01-01 $199,900 (-19.7%) $299,146 (-3.5%) 0.54 540
    2022-02-01 $222,000 (-16.2%) $301,494 (-5.9%) 0.59 537
    2022-03-01 $214,394 (-15.9%) $282,623 (-9.4%) 0.55 616
    2022-04-01 $199,900 (-15.5%) $270,237 (-10.5%) 0.48 722
    2022-05-01 $219,450 (-6.6%) $289,476 (-3.0%) 0.51 841
    2022-06-01 $226,625 (-4.4%) $301,655 (0.9%) 0.51 939
    2022-07-01 $229,900 (0.0%) $306,893 (4.3%) 0.53 982
    2022-08-01 $224,900 (2.3%) $297,521 (1.8%) 0.52 973
    2022-09-01 $220,650 (10.4%) $293,438 (4.4%) 0.52 960
    2022-10-01 $224,450 (12.3%) $300,070 (6.7%) 0.53 944
    2022-11-01 $221,200 (11.0%) $304,367 (9.3%) 0.55 883
    2022-12-01 $229,900 (19.0%) $316,399 (11.3%) 0.60 755
    2023-01-01 $226,000 (13.1%) $320,185 (7.0%) 0.58 667
    2023-02-01 $229,175 (3.2%) $321,695 (6.7%) 0.56 668
    2023-03-01 $252,500 (17.8%) $331,783 (17.4%) 0.61 670
    2023-04-01 $264,777 (32.5%) $329,514 (21.9%) 0.62 712
    2023-05-01 $263,600 (20.1%) $327,238 (13.1%) 0.60 737
    2023-06-01 $269,900 (19.1%) $337,505 (11.9%) 0.62 839
    2023-07-01 $250,000 (8.7%) $347,450 (13.2%) 0.59 856
    2023-08-01 $249,900 (11.1%) $333,073 (12.0%) 0.57 864
    2023-09-01 $249,900 (13.3%) $343,054 (16.9%) 0.58 860
    2023-10-01 $249,900 (11.3%) $342,300 (14.1%) 0.59 884
    2023-11-01 $234,900 (6.2%) $323,595 (6.3%) 0.57 831
    2023-12-01 $249,900 (8.7%) $330,879 (4.6%) 0.61 718
    2024-01-01 $244,900 (8.4%) $324,150 (1.2%) 0.60 616
    2024-02-01 $248,200 (8.3%) $326,724 (1.6%) 0.60 633
    2024-03-01 $279,000 (10.5%) $346,277 (4.4%) 0.66 642
    2024-04-01 $279,900 (5.7%) $352,559 (7.0%) 0.69 699
    2024-05-01 $294,675 (11.8%) $378,902 (15.8%) 0.70 848
    2024-06-01 $269,900 (0.0%) $363,219 (7.6%) 0.63 831
    2024-07-01 $272,400 (9.0%) $350,866 (1.0%) 0.63 886
    2024-08-01 $274,900 (10.0%) $359,471 (7.9%) 0.66 880
    2024-09-01 $277,400 (11.0%) $356,874 (4.0%) 0.66 924
    2024-10-01 $269,450 (7.8%) $371,360 (8.5%) 0.65 948
    2024-11-01 $250,000 (6.4%) $364,116 (12.5%) 0.64 844
    2024-12-01 $249,950 (0.0%) $361,529 (9.3%) 0.64 711
    2025-01-01 $258,450 (5.5%) $370,120 (14.2%) 0.00 657
    Rochester's median listing price for 2025-01-01 was $258,450, a difference of $13,550 (5.5%) versus the prior year and $8,500 versus the prior month.

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

    Rochester's average listing price for 2025-01-01 was $370,120, a difference of $45,970 (14.2%) versus the prior year and $8,591 versus the prior month.

    For the 2025-01-01 period, Rochester had 657 MLS listings, a difference of -54 listings (-8%) versus the prior month and 41 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 65 days 1,716 sqft
    2018-02-01 57 days 1,763 sqft
    2018-03-01 42 days 1,763 sqft
    2018-04-01 35 days 1,769 sqft
    2018-05-01 33 days 1,767 sqft
    2018-06-01 34 days 1,782 sqft
    2018-07-01 38 days 1,768 sqft
    2018-08-01 43 days 1,756 sqft
    2018-09-01 46 days 1,752 sqft
    2018-10-01 47 days 1,745 sqft
    2018-11-01 52 days 1,727 sqft
    2018-12-01 64 days 1,741 sqft
    2019-01-01 66 days 1,732 sqft
    2019-02-01 50 days 1,744 sqft
    2019-03-01 40 days 1,769 sqft
    2019-04-01 32 days 1,800 sqft
    2019-05-01 30 days 1,811 sqft
    2019-06-01 30 days 1,820 sqft
    2019-07-01 33 days 1,816 sqft
    2019-08-01 37 days 1,803 sqft
    2019-09-01 38 days 1,789 sqft
    2019-10-01 41 days 1,778 sqft
    2019-11-01 47 days 1,772 sqft
    2019-12-01 58 days 1,757 sqft
    2020-01-01 59 days 1,743 sqft
    2020-02-01 36 days 1,746 sqft
    2020-03-01 31 days 1,765 sqft
    2020-04-01 45 days 1,760 sqft
    2020-05-01 46 days 1,812 sqft
    2020-06-01 24 days 1,788 sqft
    2020-07-01 25 days 1,785 sqft
    2020-08-01 25 days 1,752 sqft
    2020-09-01 25 days 1,731 sqft
    2020-10-01 26 days 1,728 sqft
    2020-11-01 32 days 1,708 sqft
    2020-12-01 44 days 1,717 sqft
    2021-01-01 46 days 1,730 sqft
    2021-02-01 29 days 1,749 sqft
    2021-03-01 16 days 1,718 sqft
    2021-04-01 11 days 1,717 sqft
    2021-05-01 10 days 1,708 sqft
    2021-06-01 11 days 1,766 sqft
    2021-07-01 15 days 1,748 sqft
    2021-08-01 16 days 1,737 sqft
    2021-09-01 19 days 1,700 sqft
    2021-10-01 22 days 1,690 sqft
    2021-11-01 23 days 1,682 sqft
    2021-12-01 35 days 1,668 sqft
    2022-01-01 37 days 1,696 sqft
    2022-02-01 18 days 1,710 sqft
    2022-03-01 10 days 1,676 sqft
    2022-04-01 10 days 1,662 sqft
    2022-05-01 10 days 1,703 sqft
    2022-06-01 11 days 1,737 sqft
    2022-07-01 16 days 1,728 sqft
    2022-08-01 22 days 1,699 sqft
    2022-09-01 23 days 1,688 sqft
    2022-10-01 24 days 1,689 sqft
    2022-11-01 30 days 1,702 sqft
    2022-12-01 39 days 1,720 sqft
    2023-01-01 44 days 1,698 sqft
    2023-02-01 28 days 1,708 sqft
    2023-03-01 24 days 1,711 sqft
    2023-04-01 16 days 1,728 sqft
    2023-05-01 13 days 1,708 sqft
    2023-06-01 12 days 1,741 sqft
    2023-07-01 15 days 1,748 sqft
    2023-08-01 16 days 1,731 sqft
    2023-09-01 17 days 1,706 sqft
    2023-10-01 19 days 1,707 sqft
    2023-11-01 25 days 1,670 sqft
    2023-12-01 35 days 1,661 sqft
    2024-01-01 33 days 1,669 sqft
    2024-02-01 24 days 1,677 sqft
    2024-03-01 22 days 1,744 sqft
    2024-04-01 16 days 1,718 sqft
    2024-05-01 17 days 1,728 sqft
    2024-06-01 17 days 1,704 sqft
    2024-07-01 36 days 1,715 sqft
    2024-08-01 39 days 1,728 sqft
    2024-09-01 38 days 1,725 sqft
    2024-10-01 38 days 1,722 sqft
    2024-11-01 49 days 1,692 sqft
    2024-12-01 56 days 1,679 sqft
    2025-01-01 0 days 1,659 sqft
    Rochester's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Rochester's median square footage for active listings during the 2025-01-01 period was 1,659 sqft. One year prior, the average listing was 1,669 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.