Trenton VA Loan Rates, Closing Costs & Stats

TRENTON-PRINCETON, NJ

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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.

    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 6.38% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.64% and one month ago for the week of 2024-10-04, the average rate was 5.87%.

    The average rate one year ago was 7.62%.

    For refis of the same type during the week of 2024-11-08, the average rate was 7.01%.

    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.