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.