Trenton VA Loan Rates, Closing Costs & Stats

TRENTON-PRINCETON, NJ

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.

Trenton's 39 lenders originated 84 VA loans during 2023. The total origination value was $29,010,000, with an average VA loan value of $345,357.

Trenton VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Trenton averaged 0.44% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Trenton's average VA mortgage closing costs are $7,339.

The average rate for the prior week (2024-06-14) was 6.55% and one month ago for the week of 2024-05-17, the average rate was 6.84%.

The average rate one year ago was 6.75%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.47%.

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

Trenton 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 Trenton level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 14 6.86% $8,701
UNITED WHOLESALE MORTGAGE, LLC 8 6.30% $15,380
NAVY FEDERAL CREDIT UNION 5 5.98% $6,754
FREEDOM MORTGAGE CORPORATION 4 6.75% $15,912
NEW DAY FINANCIAL, LLC 3 6.91% $16,015
Advisors Mortgage Group, L.L.C. 2 7.06% $14,455
CROSSCOUNTRY MORTGAGE, LLC 2 6.19% $10,142
LOANDEPOT.COM, LLC 2 6.56% $15,248
MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $24,033
PENTAGON FEDERAL CREDIT UNION 2 5.75% $10,990
PLAZA HOME MORTGAGE, INC. 2 6.00% $6,713
Prosperity Home Mortgage, LLC 2 6.12% $16,412
QUICKEN LOANS, LLC 2 5.99% $19,621
Financial Freedom Mortgage, LLC 1 7.63% $23,163
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $14,313
Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $17,355
M&T Bank 1 6.13% $15,008
TD Bank 1 6.75% $5,587
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $10,831
CONTOUR MORTGAGE CORPORATION 1 6.25% $14,313
NBKC BANK 1 6.13% $7,227
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $9,132
NEWREZ LLC 1 6.75% $11,094
NP, Inc. 1 7.25% $22,773
Paramount Residential Mortgage Group, Inc. 1 7.63% $23,163
PENNYMAC LOAN SERVICES, LLC 1 5.25% $6,172
AMERISAVE MORTGAGE CORPORATION 1 5.25% $6,381
PHH Mortgage Corporation 1 6.50% $10,393
USAA Federal Savings Bank 1 6.75% $7,231
Princeton Mortgage Corporation 1 7.00% $5,509
VILLAGE CAPITAL MORTGAGE 1 5.63% $12,050
Wells Fargo Bank 1 5.38% $6,873
ROYAL UNITED MORTGAGE LLC 1 6.25% $17,054
First Federal Bank 1 5.50% $10,686
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $1,972
SUCCESS MORTGAGE PARTNERS, INC. 1 6.38% $14,845
Magnolia Bank 1 6.13% $21,079
MLD MORTGAGE INC. 1 6.63% $16,915
MORTGAGE ACCESS CORP. 1 5.50% $5,909

The top Trenton VA lender as defined by loan originations is Mortgage Research Center, LLC, with 14 VA loans originated. Their average total fees are $8,701, which is $6,680 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Trenton VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($8,701), .

The lowest rate Trenton VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.86%), .

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.