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 89 lenders originated 589 VA loans during 2023. The total origination value was $237,885,000, with an average VA loan value of $403,879.
Worcester VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Worcester
averaged
6.11%
for the week of 2024-12-13, compared to the national average (all VA variants) of
6.077% for the same period.
Worcester's average VA mortgage closing costs are $6,766.
The average rate for the prior week (2024-12-06) was
6.55% and
one month ago for the week of 2024-11-08, the
average rate was 6.74%.
The average rate one year ago was 6.79%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.16%.
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.
The top Worcester VA lender as defined by loan originations is Mortgage Research Center, LLC, with
127 VA loans originated. Their average total fees are
$10,846, which is $3,559
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Worcester VA lenders (with over 10 loans originated) are
NAVY FEDERAL CREDIT UNION ($8,375), UNITED WHOLESALE MORTGAGE, LLC ($8,416), PENNYMAC LOAN SERVICES, LLC ($9,063), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,120) and MOVEMENT MORTGAGE, LLC ($9,179).
The lowest rate Worcester VA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (5.44%), NAVY FEDERAL CREDIT UNION (5.63%), LOANDEPOT.COM, LLC (5.82%), QUICKEN LOANS, LLC (5.89%) and NEWREZ LLC (6.07%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Worcester (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 | $284,975 (6.5%) | $345,132 (4.8%) | 1.06 | 1,935 |
2018-02-01 | $289,900 (5.5%) | $352,279 (6.3%) | 1.05 | 1,825 |
2018-03-01 | $299,900 (7.2%) | $367,340 (8.9%) | 1.05 | 1,851 |
2018-04-01 | $318,375 (8.1%) | $383,405 (9.8%) | 1.08 | 2,007 |
2018-05-01 | $322,438 (7.8%) | $387,342 (9.5%) | 1.08 | 2,257 |
2018-06-01 | $324,900 (6.5%) | $387,347 (7.4%) | 1.08 | 2,596 |
2018-07-01 | $324,900 (8.3%) | $388,514 (9.3%) | 1.09 | 2,717 |
2018-08-01 | $319,900 (9.4%) | $383,473 (8.9%) | 1.07 | 2,825 |
2018-09-01 | $319,606 (10.3%) | $382,196 (9.4%) | 1.07 | 3,034 |
2018-10-01 | $312,000 (7.8%) | $378,225 (8.3%) | 1.06 | 3,048 |
2018-11-01 | $309,900 (7.2%) | $371,841 (6.1%) | 1.05 | 2,873 |
2018-12-01 | $304,000 (5.2%) | $368,778 (6.3%) | 1.05 | 2,402 |
2019-01-01 | $304,988 (7.0%) | $370,805 (7.4%) | 1.05 | 2,045 |
2019-02-01 | $321,200 (10.8%) | $377,180 (7.1%) | 1.09 | 1,899 |
2019-03-01 | $335,614 (11.9%) | $390,601 (6.3%) | 1.10 | 1,939 |
2019-04-01 | $351,550 (10.4%) | $405,694 (5.8%) | 1.12 | 2,040 |
2019-05-01 | $359,900 (11.6%) | $413,484 (6.8%) | 1.12 | 2,299 |
2019-06-01 | $359,900 (10.8%) | $422,344 (9.0%) | 1.12 | 2,532 |
2019-07-01 | $354,900 (9.2%) | $417,377 (7.4%) | 1.11 | 2,552 |
2019-08-01 | $350,809 (9.7%) | $413,552 (7.8%) | 1.11 | 2,563 |
2019-09-01 | $344,673 (7.8%) | $406,959 (6.5%) | 1.10 | 2,598 |
2019-10-01 | $343,357 (10.1%) | $402,327 (6.4%) | 1.11 | 2,603 |
2019-11-01 | $344,900 (11.3%) | $399,114 (7.3%) | 1.13 | 2,360 |
2019-12-01 | $344,700 (13.4%) | $396,896 (7.6%) | 1.15 | 1,908 |
2020-01-01 | $344,675 (13.0%) | $400,188 (7.9%) | 1.15 | 1,627 |
2020-02-01 | $349,900 (8.9%) | $414,469 (9.9%) | 1.15 | 1,459 |
2020-03-01 | $364,950 (8.7%) | $432,462 (10.7%) | 1.14 | 1,532 |
2020-04-01 | $370,950 (5.5%) | $429,618 (5.9%) | 1.16 | 1,548 |
2020-05-01 | $379,900 (5.6%) | $438,213 (6.0%) | 1.15 | 1,595 |
2020-06-01 | $395,400 (9.9%) | $461,864 (9.4%) | 1.16 | 1,444 |
2020-07-01 | $397,425 (12.0%) | $463,616 (11.1%) | 1.15 | 1,300 |
2020-08-01 | $389,900 (11.1%) | $467,523 (13.1%) | 1.12 | 1,184 |
2020-09-01 | $389,675 (13.1%) | $472,711 (16.2%) | 1.12 | 1,187 |
2020-10-01 | $385,000 (12.1%) | $477,667 (18.7%) | 1.10 | 1,206 |
2020-11-01 | $381,150 (10.5%) | $472,067 (18.3%) | 1.11 | 1,077 |
2020-12-01 | $389,600 (13.0%) | $472,512 (19.1%) | 1.16 | 920 |
2021-01-01 | $399,900 (16.0%) | $489,820 (22.4%) | 1.19 | 698 |
2021-02-01 | $399,900 (14.3%) | $488,560 (17.9%) | 1.16 | 583 |
2021-03-01 | $394,950 (8.2%) | $483,649 (11.8%) | 1.12 | 639 |
2021-04-01 | $396,000 (6.8%) | $476,153 (10.8%) | 1.07 | 706 |
2021-05-01 | $399,000 (5.0%) | $482,777 (10.2%) | 1.06 | 766 |
2021-06-01 | $420,000 (6.2%) | $490,866 (6.3%) | 1.11 | 894 |
2021-07-01 | $415,000 (4.4%) | $485,508 (4.7%) | 1.10 | 1,026 |
2021-08-01 | $405,000 (3.9%) | $479,811 (2.6%) | 1.08 | 1,086 |
2021-09-01 | $404,900 (3.9%) | $481,572 (1.9%) | 1.08 | 1,094 |
2021-10-01 | $395,000 (2.6%) | $469,813 (-1.6%) | 1.05 | 1,099 |
2021-11-01 | $394,084 (3.4%) | $497,717 (5.4%) | 1.05 | 924 |
2021-12-01 | $387,475 (-0.6%) | $505,277 (6.9%) | 1.05 | 719 |
2022-01-01 | $399,000 (-0.2%) | $528,389 (7.9%) | 1.08 | 544 |
2022-02-01 | $423,250 (5.8%) | $622,995 (27.5%) | 1.10 | 489 |
2022-03-01 | $438,675 (11.1%) | $627,123 (29.7%) | 1.10 | 508 |
2022-04-01 | $449,000 (13.4%) | $619,822 (30.2%) | 1.07 | 615 |
2022-05-01 | $469,450 (17.7%) | $612,460 (26.9%) | 1.07 | 789 |
2022-06-01 | $449,950 (7.1%) | $591,110 (20.4%) | 1.00 | 963 |
2022-07-01 | $449,900 (8.4%) | $573,407 (18.1%) | 1.01 | 1,164 |
2022-08-01 | $449,900 (11.1%) | $577,450 (20.4%) | 1.04 | 1,129 |
2022-09-01 | $439,925 (8.7%) | $524,257 (8.9%) | 1.03 | 1,066 |
2022-10-01 | $449,900 (13.9%) | $561,800 (19.6%) | 1.06 | 1,093 |
2022-11-01 | $449,450 (14.1%) | $573,388 (15.2%) | 1.08 | 1,055 |
2022-12-01 | $445,000 (14.9%) | $590,266 (16.8%) | 1.10 | 819 |
2023-01-01 | $464,905 (16.5%) | $605,979 (14.7%) | 1.15 | 728 |
2023-02-01 | $494,450 (16.8%) | $638,376 (2.5%) | 1.19 | 609 |
2023-03-01 | $493,000 (12.4%) | $635,158 (1.3%) | 1.16 | 582 |
2023-04-01 | $504,900 (12.5%) | $634,396 (2.4%) | 1.17 | 674 |
2023-05-01 | $516,175 (10.0%) | $638,486 (4.3%) | 1.17 | 714 |
2023-06-01 | $509,950 (13.3%) | $606,152 (2.5%) | 1.15 | 774 |
2023-07-01 | $519,400 (15.5%) | $603,164 (5.2%) | 1.18 | 730 |
2023-08-01 | $499,450 (11.0%) | $615,996 (6.7%) | 1.15 | 811 |
2023-09-01 | $490,000 (11.4%) | $615,970 (17.5%) | 1.14 | 893 |
2023-10-01 | $487,400 (8.3%) | $580,248 (3.3%) | 1.15 | 927 |
2023-11-01 | $475,000 (5.7%) | $589,158 (2.8%) | 1.13 | 942 |
2023-12-01 | $479,450 (7.7%) | $600,335 (1.7%) | 1.17 | 766 |
2024-01-01 | $498,000 (7.1%) | $610,971 (0.8%) | 1.22 | 621 |
2024-02-01 | $499,350 (1.0%) | $633,419 (-0.8%) | 1.20 | 598 |
2024-03-01 | $499,999 (1.4%) | $643,339 (1.3%) | 1.18 | 640 |
2024-04-01 | $524,800 (3.9%) | $660,384 (4.1%) | 1.22 | 732 |
2024-05-01 | $544,900 (5.6%) | $673,718 (5.5%) | 1.23 | 811 |
2024-06-01 | $549,900 (7.8%) | $669,811 (10.5%) | 1.24 | 965 |
2024-07-01 | $537,175 (3.4%) | $666,324 (10.5%) | 1.23 | 993 |
2024-08-01 | $519,900 (4.1%) | $641,262 (4.1%) | 1.21 | 1,065 |
2024-09-01 | $524,900 (7.1%) | $640,317 (4.0%) | 1.24 | 1,168 |
2024-10-01 | $527,450 (8.2%) | $620,424 (6.9%) | 1.24 | 1,254 |
2024-11-01 | $506,725 (6.7%) | $602,452 (2.3%) | 1.22 | 1,233 |
Worcester's median listing price comes in at 122% of the national average.
Worcester's average listing price for 2024-11-01 was $602,452, a difference of $13,294 (2.3%) versus the prior year and $-17,972 versus the prior month.
For the 2024-11-01 period, Worcester had 1,233 MLS listings, a difference of -21 listings (-2%) versus the prior month and 291 listings (31%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Worcester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 80 days | 1,792 sqft |
2018-02-01 | 75 days | 1,800 sqft |
2018-03-01 | 47 days | 1,804 sqft |
2018-04-01 | 39 days | 1,840 sqft |
2018-05-01 | 33 days | 1,836 sqft |
2018-06-01 | 37 days | 1,858 sqft |
2018-07-01 | 44 days | 1,876 sqft |
2018-08-01 | 51 days | 1,880 sqft |
2018-09-01 | 51 days | 1,876 sqft |
2018-10-01 | 54 days | 1,869 sqft |
2018-11-01 | 60 days | 1,851 sqft |
2018-12-01 | 70 days | 1,820 sqft |
2019-01-01 | 79 days | 1,802 sqft |
2019-02-01 | 78 days | 1,828 sqft |
2019-03-01 | 60 days | 1,879 sqft |
2019-04-01 | 39 days | 1,971 sqft |
2019-05-01 | 38 days | 2,019 sqft |
2019-06-01 | 39 days | 2,030 sqft |
2019-07-01 | 48 days | 2,000 sqft |
2019-08-01 | 52 days | 1,981 sqft |
2019-09-01 | 53 days | 1,952 sqft |
2019-10-01 | 53 days | 1,943 sqft |
2019-11-01 | 58 days | 1,920 sqft |
2019-12-01 | 75 days | 1,892 sqft |
2020-01-01 | 79 days | 1,877 sqft |
2020-02-01 | 58 days | 1,904 sqft |
2020-03-01 | 35 days | 1,988 sqft |
2020-04-01 | 44 days | 2,000 sqft |
2020-05-01 | 52 days | 2,000 sqft |
2020-06-01 | 41 days | 2,000 sqft |
2020-07-01 | 37 days | 2,000 sqft |
2020-08-01 | 36 days | 2,002 sqft |
2020-09-01 | 26 days | 1,960 sqft |
2020-10-01 | 26 days | 1,952 sqft |
2020-11-01 | 42 days | 1,920 sqft |
2020-12-01 | 54 days | 1,873 sqft |
2021-01-01 | 54 days | 1,900 sqft |
2021-02-01 | 47 days | 1,810 sqft |
2021-03-01 | 16 days | 1,801 sqft |
2021-04-01 | 15 days | 1,793 sqft |
2021-05-01 | 14 days | 1,815 sqft |
2021-06-01 | 16 days | 1,843 sqft |
2021-07-01 | 22 days | 1,830 sqft |
2021-08-01 | 24 days | 1,808 sqft |
2021-09-01 | 27 days | 1,808 sqft |
2021-10-01 | 26 days | 1,778 sqft |
2021-11-01 | 35 days | 1,768 sqft |
2021-12-01 | 39 days | 1,718 sqft |
2022-01-01 | 47 days | 1,706 sqft |
2022-02-01 | 28 days | 1,768 sqft |
2022-03-01 | 16 days | 1,798 sqft |
2022-04-01 | 10 days | 1,846 sqft |
2022-05-01 | 14 days | 1,895 sqft |
2022-06-01 | 16 days | 1,874 sqft |
2022-07-01 | 23 days | 1,875 sqft |
2022-08-01 | 30 days | 1,885 sqft |
2022-09-01 | 32 days | 1,869 sqft |
2022-10-01 | 33 days | 1,879 sqft |
2022-11-01 | 37 days | 1,878 sqft |
2022-12-01 | 52 days | 1,850 sqft |
2023-01-01 | 52 days | 1,872 sqft |
2023-02-01 | 42 days | 1,889 sqft |
2023-03-01 | 31 days | 1,875 sqft |
2023-04-01 | 19 days | 1,921 sqft |
2023-05-01 | 19 days | 1,973 sqft |
2023-06-01 | 18 days | 1,956 sqft |
2023-07-01 | 25 days | 1,939 sqft |
2023-08-01 | 23 days | 1,877 sqft |
2023-09-01 | 27 days | 1,879 sqft |
2023-10-01 | 27 days | 1,871 sqft |
2023-11-01 | 32 days | 1,855 sqft |
2023-12-01 | 44 days | 1,824 sqft |
2024-01-01 | 45 days | 1,830 sqft |
2024-02-01 | 30 days | 1,813 sqft |
2024-03-01 | 23 days | 1,812 sqft |
2024-04-01 | 22 days | 1,877 sqft |
2024-05-01 | 19 days | 1,898 sqft |
2024-06-01 | 23 days | 1,929 sqft |
2024-07-01 | 31 days | 1,976 sqft |
2024-08-01 | 31 days | 1,880 sqft |
2024-09-01 | 30 days | 1,932 sqft |
2024-10-01 | 31 days | 1,950 sqft |
2024-11-01 | 38 days | 1,885 sqft |
Worcester's median square footage for active listings during the 2024-11-01 period was 1,885 sqft. One year prior, the average listing was 1,855 sqft.