Worcester VA Loan Rates, Closing Costs & Stats
WORCESTER, MA-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.
Worcester's 82 lenders originated 634 VA
loans during 2024. The total origination value was $281,050,000, with an average VA loan value of
$443,297.
Worcester VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Worcester
averaged
0.3%
for the week of 2025-07-04, compared to the national average (all VA variants) of
0% for the same period.
Worcester's average VA mortgage closing costs are $7,008.
The average rate for the prior week (2025-06-27) was
6.63% and
one month ago for the week of 2025-05-30, the
average rate was 7.06%.
The average rate one year ago was 6.87%.
For refis of the same type during the week of 2025-07-04, the average rate
was 0.12%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Worcester 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 Worcester level.
Name |
# of Loans |
2024 Avg. 30yFix Rate |
2024 Avg. Closing Costs |
Mortgage Research Center, LLC
|
106
|
6.38%
|
$10,794
|
UNITED WHOLESALE MORTGAGE, LLC
|
62
|
5.96%
|
$7,839
|
QUICKEN LOANS, LLC
|
44
|
5.90%
|
$14,340
|
FREEDOM MORTGAGE CORPORATION
|
33
|
6.17%
|
$10,312
|
PENNYMAC LOAN SERVICES, LLC
|
27
|
5.59%
|
$8,034
|
NEWREZ LLC
|
26
|
6.10%
|
$7,434
|
NAVY FEDERAL CREDIT UNION
|
24
|
5.82%
|
$5,346
|
TOTAL MORTGAGE SERVICES, LLC
|
23
|
6.32%
|
$12,653
|
CMG MORTGAGE, INC.
|
19
|
6.37%
|
$8,064
|
GUARANTEED RATE, INC.
|
19
|
6.15%
|
$3,363
|
USAA Federal Savings Bank
|
14
|
6.13%
|
$7,734
|
The Federal Savings Bank
|
14
|
6.20%
|
$16,153
|
CROSSCOUNTRY MORTGAGE, LLC
|
12
|
6.43%
|
$7,318
|
VILLAGE CAPITAL MORTGAGE
|
11
|
5.53%
|
$8,564
|
Leader Bank
|
11
|
5.94%
|
$10,286
|
LOANDEPOT.COM, LLC
|
11
|
5.63%
|
$12,558
|
Mr. Cooper ( Nationstar Mortgage )
|
8
|
6.14%
|
$11,096
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
8
|
6.73%
|
$10,727
|
MOVEMENT MORTGAGE, LLC
|
7
|
6.59%
|
$10,103
|
Ixonia Bank
|
6
|
6.92%
|
$7,486
|
LAKEVIEW LOAN SERVICING, LLC
|
6
|
5.89%
|
$6,094
|
Barrington Bank & Trust Company, N.A.
|
5
|
6.63%
|
$8,486
|
NBKC BANK
|
5
|
5.55%
|
$8,251
|
Magnolia Bank
|
5
|
5.95%
|
$26,517
|
GUILD MORTGAGE COMPANY
|
4
|
6.78%
|
$6,209
|
PHH Mortgage Corporation
|
4
|
5.78%
|
$11,889
|
DREW MORTGAGE ASSOCIATES, INC.
|
4
|
6.91%
|
$7,368
|
BAY EQUITY LLC
|
4
|
6.50%
|
$10,306
|
ALLIED MORTGAGE GROUP, INC.
|
4
|
6.34%
|
$5,141
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
4
|
6.63%
|
$20,291
|
EMM LOANS LLC
|
3
|
6.04%
|
$10,283
|
First Federal Bank
|
3
|
5.54%
|
$10,304
|
PLAZA HOME MORTGAGE, INC.
|
3
|
6.63%
|
$17,829
|
EQUITY RESOURCES, INC.
|
3
|
6.08%
|
$4,012
|
BROKER SOLUTIONS, INC.
|
3
|
6.33%
|
$18,643
|
GENEVA FINANCIAL, LLC
|
3
|
6.33%
|
$16,074
|
Texana Bank
|
2
|
5.88%
|
$12,485
|
Fall River Five Cents Savings Bank
|
2
|
6.56%
|
$18,968
|
GUARANTEED RATE AFFINITY, LLC
|
2
|
6.50%
|
$4,463
|
HOMESIDE FINANCIAL, LLC
|
2
|
6.06%
|
$19,470
|
JMAC LENDING, INC.
|
2
|
6.13%
|
$4,618
|
OCMBC, INC.
|
2
|
6.13%
|
$12,534
|
Plains Commerce Bank
|
2
|
6.00%
|
$20,577
|
RADIUS FINANCIAL GROUP INC.
|
2
|
6.69%
|
$21,598
|
Ross Mortgage Company, Inc.
|
2
|
6.94%
|
$7,403
|
SALEM FIVE MORTGAGE COMPANY, LLC
|
2
|
6.06%
|
$6,279
|
Sierra Pacific Mortgage Company, Inc.
|
2
|
6.50%
|
$7,136
|
U.S. Bank
|
2
|
5.94%
|
$11,430
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.25%
|
$5,585
|
HARBORONE MORTGAGE, LLC
|
1
|
6.63%
|
$3,700
|
NEW FED MORTGAGE, CORP.
|
1
|
6.63%
|
$5,841
|
FIRST MORTGAGE COMPANY, INC.
|
1
|
6.75%
|
$17,832
|
NORTHEAST HOME LOAN, LLC
|
1
|
5.38%
|
$24,207
|
NORTHPOINT MORTGAGE, INC.
|
1
|
5.75%
|
$13,179
|
NORWICH COMMERCIAL GROUP, INC.
|
1
|
5.75%
|
$16,176
|
TOP FLITE FINANCIAL, INC.
|
1
|
6.63%
|
$18,245
|
Financial Funding Solutions, Inc.
|
1
|
6.75%
|
$4,092
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
5.63%
|
$15,637
|
Equity Prime Mortgage LLC
|
1
|
6.25%
|
$15,094
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
1
|
5.75%
|
$10,412
|
CARDINAL FINANCIAL
|
1
|
7.25%
|
$10,042
|
Prosperity Home Mortgage, LLC
|
1
|
6.00%
|
$6,074
|
BETTER MORTGAGE CORPORATION
|
1
|
6.25%
|
$12,676
|
UMB Bank
|
1
|
6.25%
|
$4,984
|
RELIANCE FIRST CAPITAL, LLC
|
1
|
6.63%
|
$10,132
|
Residential Mortgage Solutions, Inc.
|
1
|
5.13%
|
$6,045
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
1
|
6.25%
|
$11,910
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
7.63%
|
$5,860
|
Semper Home Loans, Inc.
|
1
|
6.75%
|
$33,362
|
AMERICAN FINANCIAL NETWORK, INC.
|
1
|
7.63%
|
$145
|
SUCCESS MORTGAGE PARTNERS, INC.
|
1
|
7.00%
|
$19,076
|
BAYCOAST MORTGAGE COMPANY, LLC
|
1
|
5.75%
|
$4,026
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
1
|
5.25%
|
$7,317
|
The Washington Trust Company, of Westerly
|
1
|
6.13%
|
$7,064
|
TJC Mortgage, Inc.
|
1
|
5.75%
|
$23,349
|
MORTGAGE EQUITY PARTNERS LLC
|
1
|
6.25%
|
$16,716
|
MILEND, INC.
|
1
|
5.88%
|
$18,020
|
LADERA LENDING, INC.
|
1
|
6.13%
|
$13,351
|
Keystone Funding, Inc.
|
1
|
7.13%
|
$3,439
|
INTELLILOAN, INC.
|
1
|
6.50%
|
$14,468
|
Nations Lending Corporation
|
1
|
7.25%
|
$6,658
|
NATIONS RELIABLE LENDING, LLC
|
1
|
5.25%
|
$2,236
|
The top Worcester VA lender as defined by loan originations is Mortgage Research Center, LLC, with
106 VA loans originated. Their average total fees are
$10,794, which is $2,955
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Worcester VA lenders (with over 10 loans originated) are
GUARANTEED RATE, INC. ($3,363), NAVY FEDERAL CREDIT UNION ($5,346), CROSSCOUNTRY MORTGAGE, LLC ($7,318), NEWREZ LLC ($7,434) and USAA Federal Savings Bank ($7,734).
The lowest rate Worcester VA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (5.53%), PENNYMAC LOAN SERVICES, LLC (5.59%), LOANDEPOT.COM, LLC (5.63%), NAVY FEDERAL CREDIT UNION (5.82%) and QUICKEN LOANS, LLC (5.90%).
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.