Torrington VA Loan Rates, Closing Costs & Stats
Torrington, CT
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.
Torrington's 38 lenders originated 164 VA loans during 2022. The total origination value was $49,900,000, with an average VA loan value of $304,268.
Torrington VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Torrington
averaged
6.19%
for the week of 2023-05-26, compared to the national average (all VA variants) of
6.408% for the same period.
Torrington's average VA mortgage closing costs are $6,274.
The average rate for the prior week (2023-05-19) was
6.01% and
one month ago for the week of 2023-04-21, the
average rate was 5.93%.
The average rate one year ago was 4.7%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.11%.
Torrington 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 Torrington level.
The top Torrington VA lender as defined by loan originations is Mortgage Research Center, LLC, with
49 VA loans originated. Their average total fees are
$7,160, which is $535
higher than the next largest lender,
NAVY FEDERAL CREDIT UNION.
The lowest fee Torrington VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($6,625), Mortgage Research Center, LLC ($7,160), QUICKEN LOANS, LLC ($9,913), .
The lowest rate Torrington VA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (3.76%), NAVY FEDERAL CREDIT UNION (3.82%), Mortgage Research Center, LLC (5.33%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Torrington (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 | $349,900 (6.1%) | $641,343 (-0.4%) | 1.30 | 1,364 |
2018-02-01 | $354,500 (6.0%) | $653,188 (-0.2%) | 1.29 | 1,345 |
2018-03-01 | $357,700 (3.9%) | $638,650 (-6.9%) | 1.26 | 1,392 |
2018-04-01 | $359,000 (2.6%) | $640,199 (-6.7%) | 1.22 | 1,455 |
2018-05-01 | $349,900 (-2.7%) | $636,073 (-5.7%) | 1.17 | 1,587 |
2018-06-01 | $349,900 (-2.5%) | $645,760 (-3.9%) | 1.17 | 1,712 |
2018-07-01 | $350,000 (-2.8%) | $651,608 (-3.5%) | 1.17 | 1,764 |
2018-08-01 | $353,725 (1.2%) | $656,358 (0.4%) | 1.19 | 1,760 |
2018-09-01 | $349,000 (-0.3%) | $659,014 (0.6%) | 1.17 | 1,755 |
2018-10-01 | $344,350 (-1.6%) | $660,543 (3.0%) | 1.17 | 1,710 |
2018-11-01 | $349,925 (0.0%) | $676,375 (4.6%) | 1.19 | 1,585 |
2018-12-01 | $349,000 (-0.1%) | $681,681 (7.7%) | 1.20 | 1,477 |
2019-01-01 | $349,900 (0.0%) | $701,843 (9.4%) | 1.21 | 1,343 |
2019-02-01 | $353,475 (-0.3%) | $708,797 (8.5%) | 1.19 | 1,316 |
2019-03-01 | $374,900 (4.8%) | $715,745 (12.1%) | 1.25 | 1,274 |
2019-04-01 | $378,929 (5.6%) | $708,064 (10.6%) | 1.20 | 1,335 |
2019-05-01 | $369,000 (5.5%) | $690,930 (8.6%) | 1.15 | 1,457 |
2019-06-01 | $369,000 (5.5%) | $678,316 (5.0%) | 1.15 | 1,585 |
2019-07-01 | $369,450 (5.6%) | $668,004 (2.5%) | 1.16 | 1,614 |
2019-08-01 | $369,900 (4.6%) | $665,853 (1.5%) | 1.16 | 1,608 |
2019-09-01 | $379,900 (8.9%) | $674,391 (2.3%) | 1.20 | 1,554 |
2019-10-01 | $375,000 (8.9%) | $659,038 (-0.2%) | 1.21 | 1,575 |
2019-11-01 | $387,250 (10.7%) | $677,361 (0.2%) | 1.27 | 1,428 |
2019-12-01 | $388,575 (11.3%) | $695,654 (2.1%) | 1.30 | 1,268 |
2020-01-01 | $395,000 (12.9%) | $706,639 (0.7%) | 1.32 | 1,155 |
2020-02-01 | $395,000 (11.8%) | $704,069 (-0.7%) | 1.29 | 1,103 |
2020-03-01 | $399,000 (6.4%) | $713,117 (-0.4%) | 1.25 | 1,064 |
2020-04-01 | $398,950 (5.3%) | $720,458 (1.8%) | 1.25 | 1,002 |
2020-05-01 | $395,000 (7.1%) | $694,918 (0.6%) | 1.20 | 914 |
2020-06-01 | $416,200 (12.8%) | $789,814 (16.4%) | 1.23 | 864 |
2020-07-01 | $444,900 (20.4%) | $826,047 (23.7%) | 1.29 | 874 |
2020-08-01 | $439,900 (18.9%) | $814,641 (22.4%) | 1.26 | 869 |
2020-09-01 | $466,200 (22.7%) | $823,199 (22.1%) | 1.34 | 878 |
2020-10-01 | $479,000 (27.7%) | $848,641 (28.8%) | 1.37 | 880 |
2020-11-01 | $487,450 (25.9%) | $888,957 (31.2%) | 1.43 | 752 |
2020-12-01 | $499,450 (28.5%) | $922,267 (32.6%) | 1.49 | 656 |
2021-01-01 | $509,900 (29.1%) | $1,071,864 (51.7%) | 1.52 | 562 |
2021-02-01 | $529,000 (33.9%) | $1,122,294 (59.4%) | 1.54 | 472 |
2021-03-01 | $541,450 (35.7%) | $1,183,788 (66.0%) | 1.54 | 454 |
2021-04-01 | $539,950 (35.3%) | $1,119,098 (55.3%) | 1.46 | 471 |
2021-05-01 | $548,000 (38.7%) | $1,139,519 (64.0%) | 1.46 | 504 |
2021-06-01 | $527,000 (26.6%) | $1,096,759 (38.9%) | 1.39 | 573 |
2021-07-01 | $499,900 (12.4%) | $1,041,410 (26.1%) | 1.32 | 673 |
2021-08-01 | $499,000 (13.4%) | $1,008,902 (23.9%) | 1.33 | 687 |
2021-09-01 | $499,900 (7.2%) | $1,011,388 (22.9%) | 1.33 | 655 |
2021-10-01 | $489,900 (2.3%) | $1,000,387 (17.9%) | 1.31 | 633 |
2021-11-01 | $494,450 (1.4%) | $1,045,673 (17.6%) | 1.32 | 542 |
2021-12-01 | $502,400 (0.6%) | $1,066,235 (15.6%) | 1.36 | 462 |
2022-01-01 | $529,450 (3.8%) | $1,218,183 (13.7%) | 1.43 | 389 |
2022-02-01 | $559,500 (5.8%) | $1,280,928 (14.1%) | 1.46 | 329 |
2022-03-01 | $547,450 (1.1%) | $1,213,733 (2.5%) | 1.37 | 328 |
2022-04-01 | $549,000 (1.7%) | $1,185,915 (6.0%) | 1.31 | 347 |
2022-05-01 | $539,788 (-1.5%) | $1,164,542 (2.2%) | 1.23 | 428 |
2022-06-01 | $549,900 (4.4%) | $1,149,266 (4.8%) | 1.22 | 491 |
2022-07-01 | $539,900 (8.0%) | $1,085,630 (4.3%) | 1.22 | 523 |
2022-08-01 | $554,675 (11.2%) | $1,137,378 (12.7%) | 1.28 | 527 |
2022-09-01 | $553,450 (10.7%) | $1,154,949 (14.2%) | 1.29 | 496 |
2022-10-01 | $545,000 (11.3%) | $1,124,370 (12.4%) | 1.28 | 480 |
2022-11-01 | $527,000 (6.6%) | $1,143,627 (9.4%) | 1.27 | 435 |
2022-12-01 | $549,999 (9.5%) | $1,178,516 (10.5%) | 1.36 | 387 |
2023-01-01 | $566,000 (6.9%) | $1,237,991 (1.6%) | 1.40 | 325 |
2023-02-01 | $598,500 (7.0%) | $1,255,107 (-2.0%) | 1.44 | 293 |
2023-03-01 | $642,425 (17.4%) | $1,305,840 (7.6%) | 1.51 | 298 |
2023-04-01 | $675,000 (23.0%) | $1,336,434 (12.7%) | 1.57 | 308 |
Torrington's median listing price comes in at 157% of the national average.
Torrington's average listing price for 2023-04-01 was $1,336,434, a difference of $150,519 (12.7%) versus the prior year and $30,594 versus the prior month.
For the 2023-04-01 period, Torrington had 308 MLS listings, a difference of 10 listings (3%) versus the prior month and -39 listings (-11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Torrington (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 141 days | 2,075 sqft |
2018-02-01 | 148 days | 2,104 sqft |
2018-03-01 | 144 days | 2,089 sqft |
2018-04-01 | 97 days | 2,121 sqft |
2018-05-01 | 81 days | 2,102 sqft |
2018-06-01 | 81 days | 2,113 sqft |
2018-07-01 | 87 days | 2,131 sqft |
2018-08-01 | 101 days | 2,127 sqft |
2018-09-01 | 107 days | 2,089 sqft |
2018-10-01 | 118 days | 2,055 sqft |
2018-11-01 | 126 days | 2,057 sqft |
2018-12-01 | 131 days | 2,031 sqft |
2019-01-01 | 140 days | 2,027 sqft |
2019-02-01 | 147 days | 2,050 sqft |
2019-03-01 | 140 days | 2,119 sqft |
2019-04-01 | 95 days | 2,137 sqft |
2019-05-01 | 78 days | 2,218 sqft |
2019-06-01 | 78 days | 2,284 sqft |
2019-07-01 | 85 days | 2,271 sqft |
2019-08-01 | 95 days | 2,304 sqft |
2019-09-01 | 106 days | 2,335 sqft |
2019-10-01 | 105 days | 2,298 sqft |
2019-11-01 | 113 days | 2,283 sqft |
2019-12-01 | 133 days | 2,258 sqft |
2020-01-01 | 139 days | 2,277 sqft |
2020-02-01 | 145 days | 2,282 sqft |
2020-03-01 | 143 days | 2,305 sqft |
2020-04-01 | 137 days | 2,301 sqft |
2020-05-01 | 106 days | 2,277 sqft |
2020-06-01 | 94 days | 2,374 sqft |
2020-07-01 | 61 days | 2,422 sqft |
2020-08-01 | 59 days | 2,400 sqft |
2020-09-01 | 59 days | 2,439 sqft |
2020-10-01 | 57 days | 2,424 sqft |
2020-11-01 | 72 days | 2,461 sqft |
2020-12-01 | 88 days | 2,471 sqft |
2021-01-01 | 107 days | 2,476 sqft |
2021-02-01 | 128 days | 2,444 sqft |
2021-03-01 | 120 days | 2,426 sqft |
2021-04-01 | 57 days | 2,409 sqft |
2021-05-01 | 47 days | 2,400 sqft |
2021-06-01 | 45 days | 2,329 sqft |
2021-07-01 | 47 days | 2,233 sqft |
2021-08-01 | 52 days | 2,116 sqft |
2021-09-01 | 63 days | 2,129 sqft |
2021-10-01 | 75 days | 2,120 sqft |
2021-11-01 | 86 days | 2,136 sqft |
2021-12-01 | 89 days | 2,144 sqft |
2022-01-01 | 103 days | 2,249 sqft |
2022-02-01 | 106 days | 2,276 sqft |
2022-03-01 | 59 days | 2,218 sqft |
2022-04-01 | 48 days | 2,150 sqft |
2022-05-01 | 36 days | 2,114 sqft |
2022-06-01 | 37 days | 2,222 sqft |
2022-07-01 | 42 days | 2,175 sqft |
2022-08-01 | 50 days | 2,361 sqft |
2022-09-01 | 58 days | 2,330 sqft |
2022-10-01 | 71 days | 2,268 sqft |
2022-11-01 | 75 days | 2,294 sqft |
2022-12-01 | 89 days | 2,322 sqft |
2023-01-01 | 101 days | 2,319 sqft |
2023-02-01 | 111 days | 2,466 sqft |
2023-03-01 | 71 days | 2,469 sqft |
2023-04-01 | 57 days | 2,466 sqft |
Torrington's median square footage for active listings during the 2023-04-01 period was 2,466 sqft. One year prior, the average listing was 2,150 sqft.