Rochester VA Loan Rates, Closing Costs & Stats
ROCHESTER, NY
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
0.08%
for the week of 2024-11-29, compared to the national average (all VA variants) of
0% for the same period.
Rochester's average VA mortgage closing costs are $5,269.
The average rate for the prior week (2024-11-22) was
6.65% and
one month ago for the week of 2024-10-25, the
average rate was 6.44%.
The average rate one year ago was 7.29%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.18%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $159,900 (7.2%) | $222,730 (8.6%) | 0.59 | 2,098 |
2018-02-01 | $169,900 (11.5%) | $227,348 (5.9%) | 0.62 | 2,058 |
2018-03-01 | $179,900 (10.8%) | $235,666 (6.8%) | 0.63 | 2,108 |
2018-04-01 | $194,700 (14.5%) | $243,964 (7.2%) | 0.66 | 2,255 |
2018-05-01 | $196,550 (9.3%) | $247,206 (5.7%) | 0.66 | 2,477 |
2018-06-01 | $194,900 (8.6%) | $249,512 (6.8%) | 0.65 | 2,716 |
2018-07-01 | $189,900 (5.9%) | $245,604 (4.2%) | 0.63 | 2,867 |
2018-08-01 | $185,000 (6.2%) | $241,703 (4.2%) | 0.62 | 2,953 |
2018-09-01 | $184,900 (8.8%) | $236,971 (3.2%) | 0.62 | 2,904 |
2018-10-01 | $179,900 (6.7%) | $233,256 (1.5%) | 0.61 | 2,845 |
2018-11-01 | $174,900 (5.1%) | $231,912 (1.5%) | 0.59 | 2,641 |
2018-12-01 | $179,900 (9.0%) | $236,774 (3.9%) | 0.62 | 2,284 |
2019-01-01 | $189,450 (18.5%) | $243,764 (9.4%) | 0.65 | 1,922 |
2019-02-01 | $196,425 (15.6%) | $254,429 (11.9%) | 0.66 | 1,847 |
2019-03-01 | $212,371 (18.1%) | $271,313 (15.1%) | 0.69 | 1,831 |
2019-04-01 | $230,950 (18.6%) | $291,986 (19.7%) | 0.73 | 1,837 |
2019-05-01 | $229,900 (17.0%) | $293,741 (18.8%) | 0.72 | 1,931 |
2019-06-01 | $229,900 (18.0%) | $274,637 (10.1%) | 0.72 | 2,098 |
2019-07-01 | $229,450 (20.8%) | $276,310 (12.5%) | 0.72 | 2,209 |
2019-08-01 | $218,109 (17.9%) | $275,383 (13.9%) | 0.69 | 2,250 |
2019-09-01 | $207,923 (12.5%) | $271,950 (14.8%) | 0.67 | 2,293 |
2019-10-01 | $199,950 (11.2%) | $269,100 (15.4%) | 0.65 | 2,306 |
2019-11-01 | $199,900 (14.3%) | $266,591 (15.0%) | 0.66 | 2,061 |
2019-12-01 | $199,900 (11.1%) | $264,053 (11.5%) | 0.67 | 1,792 |
2020-01-01 | $199,950 (5.5%) | $264,322 (8.4%) | 0.67 | 1,539 |
2020-02-01 | $224,900 (14.5%) | $272,929 (7.3%) | 0.74 | 1,416 |
2020-03-01 | $234,900 (10.6%) | $283,623 (4.5%) | 0.74 | 1,472 |
2020-04-01 | $249,900 (8.2%) | $299,214 (2.5%) | 0.78 | 1,375 |
2020-05-01 | $249,999 (8.7%) | $306,059 (4.2%) | 0.76 | 1,376 |
2020-06-01 | $243,544 (5.9%) | $298,593 (8.7%) | 0.72 | 1,491 |
2020-07-01 | $249,125 (8.6%) | $303,932 (10.0%) | 0.72 | 1,445 |
2020-08-01 | $239,900 (10.0%) | $292,701 (6.3%) | 0.69 | 1,402 |
2020-09-01 | $222,400 (7.0%) | $278,434 (2.4%) | 0.64 | 1,399 |
2020-10-01 | $224,900 (12.5%) | $284,662 (5.8%) | 0.64 | 1,324 |
2020-11-01 | $225,000 (12.6%) | $297,271 (11.5%) | 0.66 | 1,181 |
2020-12-01 | $232,125 (16.1%) | $310,034 (17.4%) | 0.69 | 940 |
2021-01-01 | $250,000 (25.0%) | $322,584 (22.0%) | 0.75 | 813 |
2021-02-01 | $274,675 (22.1%) | $334,347 (22.5%) | 0.80 | 748 |
2021-03-01 | $262,194 (11.6%) | $323,955 (14.2%) | 0.74 | 782 |
2021-04-01 | $246,950 (-1.2%) | $314,150 (5.0%) | 0.67 | 815 |
2021-05-01 | $242,900 (-2.8%) | $310,050 (1.3%) | 0.65 | 871 |
2021-06-01 | $239,900 (-1.5%) | $314,934 (5.5%) | 0.63 | 1,033 |
2021-07-01 | $238,500 (-4.3%) | $315,198 (3.7%) | 0.63 | 1,098 |
2021-08-01 | $227,400 (-5.2%) | $313,129 (7.0%) | 0.61 | 1,093 |
2021-09-01 | $212,400 (-4.5%) | $300,260 (7.8%) | 0.57 | 1,086 |
2021-10-01 | $210,000 (-6.6%) | $294,758 (3.6%) | 0.56 | 964 |
2021-11-01 | $199,900 (-11.2%) | $290,055 (-2.4%) | 0.53 | 828 |
2021-12-01 | $197,400 (-15.0%) | $288,289 (-7.0%) | 0.53 | 676 |
2022-01-01 | $199,999 (-20.0%) | $299,942 (-7.0%) | 0.54 | 557 |
2022-02-01 | $224,950 (-18.1%) | $306,469 (-8.3%) | 0.59 | 554 |
2022-03-01 | $219,900 (-16.1%) | $289,147 (-10.7%) | 0.55 | 641 |
2022-04-01 | $199,900 (-19.1%) | $278,479 (-11.4%) | 0.48 | 745 |
2022-05-01 | $222,400 (-8.4%) | $304,422 (-1.8%) | 0.51 | 874 |
2022-06-01 | $229,450 (-4.4%) | $312,467 (-0.8%) | 0.51 | 977 |
2022-07-01 | $234,900 (-1.5%) | $318,018 (0.9%) | 0.53 | 1,021 |
2022-08-01 | $225,000 (-1.1%) | $309,191 (-1.3%) | 0.52 | 1,011 |
2022-09-01 | $223,900 (5.4%) | $304,896 (1.5%) | 0.52 | 1,002 |
2022-10-01 | $225,000 (7.1%) | $315,266 (7.0%) | 0.53 | 979 |
2022-11-01 | $226,950 (13.5%) | $317,738 (9.5%) | 0.55 | 916 |
2022-12-01 | $242,400 (22.8%) | $333,546 (15.7%) | 0.60 | 785 |
2023-01-01 | $233,450 (16.7%) | $329,746 (9.9%) | 0.58 | 692 |
2023-02-01 | $232,450 (3.3%) | $328,826 (7.3%) | 0.56 | 692 |
2023-03-01 | $257,400 (17.1%) | $338,577 (17.1%) | 0.61 | 694 |
2023-04-01 | $264,900 (32.5%) | $336,160 (20.7%) | 0.62 | 735 |
2023-05-01 | $264,975 (19.1%) | $333,533 (9.6%) | 0.60 | 761 |
2023-06-01 | $274,338 (19.6%) | $344,660 (10.3%) | 0.62 | 866 |
2023-07-01 | $259,450 (10.5%) | $355,785 (11.9%) | 0.59 | 892 |
2023-08-01 | $249,900 (11.1%) | $339,043 (9.7%) | 0.57 | 894 |
2023-09-01 | $249,900 (11.6%) | $349,858 (14.8%) | 0.58 | 886 |
2023-10-01 | $249,949 (11.1%) | $349,733 (10.9%) | 0.59 | 907 |
2023-11-01 | $239,450 (5.5%) | $334,173 (5.2%) | 0.57 | 851 |
2023-12-01 | $249,900 (3.1%) | $338,578 (1.5%) | 0.61 | 734 |
2024-01-01 | $247,400 (6.0%) | $331,206 (0.4%) | 0.60 | 636 |
2024-02-01 | $249,950 (7.5%) | $335,172 (1.9%) | 0.60 | 654 |
2024-03-01 | $279,900 (8.7%) | $355,064 (4.9%) | 0.66 | 666 |
2024-04-01 | $295,000 (11.4%) | $361,150 (7.4%) | 0.69 | 727 |
2024-05-01 | $309,869 (16.9%) | $395,617 (18.6%) | 0.70 | 888 |
2024-06-01 | $279,900 (2.0%) | $389,892 (13.1%) | 0.63 | 888 |
2024-07-01 | $277,450 (6.9%) | $371,046 (4.3%) | 0.63 | 966 |
2024-08-01 | $284,900 (14.0%) | $373,919 (10.3%) | 0.66 | 971 |
2024-09-01 | $282,500 (13.1%) | $369,461 (5.6%) | 0.66 | 1,033 |
2024-10-01 | $277,450 (11.0%) | $385,422 (10.2%) | 0.65 | 1,067 |
Rochester's median listing price comes in at 65% of the national average.
Rochester's average listing price for 2024-10-01 was $385,422, a difference of $35,689 (10.2%) versus the prior year and $15,961 versus the prior month.
For the 2024-10-01 period, Rochester had 1,067 MLS listings, a difference of 34 listings (3%) versus the prior month and 160 listings (18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 65 days | 1,716 sqft |
2018-02-01 | 57 days | 1,759 sqft |
2018-03-01 | 42 days | 1,766 sqft |
2018-04-01 | 35 days | 1,770 sqft |
2018-05-01 | 33 days | 1,770 sqft |
2018-06-01 | 34 days | 1,780 sqft |
2018-07-01 | 38 days | 1,766 sqft |
2018-08-01 | 43 days | 1,755 sqft |
2018-09-01 | 46 days | 1,752 sqft |
2018-10-01 | 47 days | 1,743 sqft |
2018-11-01 | 52 days | 1,724 sqft |
2018-12-01 | 64 days | 1,730 sqft |
2019-01-01 | 66 days | 1,726 sqft |
2019-02-01 | 50 days | 1,730 sqft |
2019-03-01 | 40 days | 1,763 sqft |
2019-04-01 | 32 days | 1,797 sqft |
2019-05-01 | 30 days | 1,807 sqft |
2019-06-01 | 30 days | 1,813 sqft |
2019-07-01 | 33 days | 1,812 sqft |
2019-08-01 | 37 days | 1,801 sqft |
2019-09-01 | 38 days | 1,788 sqft |
2019-10-01 | 41 days | 1,778 sqft |
2019-11-01 | 47 days | 1,768 sqft |
2019-12-01 | 58 days | 1,751 sqft |
2020-01-01 | 59 days | 1,739 sqft |
2020-02-01 | 36 days | 1,747 sqft |
2020-03-01 | 31 days | 1,766 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 | 1,791 sqft |
2020-08-01 | 25 days | 1,752 sqft |
2020-09-01 | 25 days | 1,730 sqft |
2020-10-01 | 26 days | 1,728 sqft |
2020-11-01 | 32 days | 1,713 sqft |
2020-12-01 | 44 days | 1,719 sqft |
2021-01-01 | 46 days | 1,729 sqft |
2021-02-01 | 29 days | 1,742 sqft |
2021-03-01 | 16 days | 1,715 sqft |
2021-04-01 | 11 days | 1,713 sqft |
2021-05-01 | 10 days | 1,700 sqft |
2021-06-01 | 11 days | 1,757 sqft |
2021-07-01 | 15 days | 1,744 sqft |
2021-08-01 | 16 days | 1,736 sqft |
2021-09-01 | 19 days | 1,701 sqft |
2021-10-01 | 22 days | 1,699 sqft |
2021-11-01 | 23 days | 1,687 sqft |
2021-12-01 | 35 days | 1,671 sqft |
2022-01-01 | 37 days | 1,695 sqft |
2022-02-01 | 18 days | 1,718 sqft |
2022-03-01 | 10 days | 1,678 sqft |
2022-04-01 | 10 days | 1,664 sqft |
2022-05-01 | 10 days | 1,709 sqft |
2022-06-01 | 11 days | 1,733 sqft |
2022-07-01 | 16 days | 1,727 sqft |
2022-08-01 | 22 days | 1,696 sqft |
2022-09-01 | 23 days | 1,683 sqft |
2022-10-01 | 24 days | 1,689 sqft |
2022-11-01 | 30 days | 1,705 sqft |
2022-12-01 | 39 days | 1,721 sqft |
2023-01-01 | 44 days | 1,699 sqft |
2023-02-01 | 28 days | 1,711 sqft |
2023-03-01 | 24 days | 1,711 sqft |
2023-04-01 | 16 days | 1,727 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 | 1,727 sqft |
2023-09-01 | 17 days | 1,700 sqft |
2023-10-01 | 19 days | 1,704 sqft |
2023-11-01 | 25 days | 1,675 sqft |
2023-12-01 | 35 days | 1,674 sqft |
2024-01-01 | 33 days | 1,666 sqft |
2024-02-01 | 24 days | 1,675 sqft |
2024-03-01 | 22 days | 1,733 sqft |
2024-04-01 | 16 days | 1,716 sqft |
2024-05-01 | 17 days | 1,746 sqft |
2024-06-01 | 17 days | 1,736 sqft |
2024-07-01 | 36 days | 1,723 sqft |
2024-08-01 | 39 days | 1,728 sqft |
2024-09-01 | 38 days | 1,731 sqft |
2024-10-01 | 38 days | 1,730 sqft |
Rochester's median square footage for active listings during the 2024-10-01 period was 1,730 sqft. One year prior, the average listing was 1,704 sqft.