Connecticut VA Loan Rates, Closing Costs & Stats

Connecticut

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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.

    Connecticut VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Connecticut averaged -0.44% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Connecticut's average VA mortgage closing costs are $6,696.

    The average rate for the prior week (2023-11-17) was 6.61% and one month ago for the week of 2023-10-20, the average rate was 7.24%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.66%.

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

    Connecticut 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 Connecticut level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 558 5.09% $8,596
    QUICKEN LOANS, LLC 216 4.03% $12,180
    NAVY FEDERAL CREDIT UNION 211 3.87% $7,928
    UNITED WHOLESALE MORTGAGE, LLC 147 4.53% $10,464
    USAA Federal Savings Bank 101 4.33% $10,373
    LOANDEPOT.COM, LLC 86 3.92% $11,758
    FREEDOM MORTGAGE CORPORATION 83 4.34% $12,062
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 68 4.99% $8,947
    PENNYMAC LOAN SERVICES, LLC 65 3.30% $10,195
    MOVEMENT MORTGAGE, LLC 56 4.81% $7,650
    NEW DAY FINANCIAL, LLC 53 5.21% $14,695
    TOTAL MORTGAGE SERVICES, LLC 49 4.87% $11,683
    GUARANTEED RATE, INC. 49 4.61% $8,449
    HOME POINT FINANCIAL CORPORATION 39 4.07% $11,339
    HOMEBRIDGE FINANCIAL SERVICES, INC. 38 4.73% $11,417
    Mr. Cooper ( Nationstar Mortgage ) 37 4.78% $13,096
    Prosperity Home Mortgage, LLC 37 4.48% $10,659
    GUARANTEED RATE AFFINITY, LLC 35 4.75% $11,519
    The Federal Savings Bank 34 4.36% $14,865
    CALIBER HOME LOANS, INC. 33 4.72% $11,032
    NORWICH COMMERCIAL GROUP, INC. 33 4.98% $8,495
    Barrington Bank & Trust Company, N.A. 28 4.57% $10,530
    FIRST WORLD MORTGAGE CORPORATION 28 4.77% $10,871
    CROSSCOUNTRY MORTGAGE, LLC 24 4.88% $14,086
    NEWREZ LLC 23 4.41% $8,837
    PRIMELENDING, A PLAINSCAPITAL COMPANY 22 4.86% $11,532
    Citizens Bank 21 4.49% $11,357
    AMERISAVE MORTGAGE CORPORATION 20 4.48% $12,391
    EVERETT FINANCIAL, INC. 17 5.19% $8,405
    PLAZA HOME MORTGAGE, INC. 16 5.15% $8,867
    Flagstar Bank, FSB 16 4.42% $12,184
    LAKEVIEW LOAN SERVICING, LLC 12 3.33% $5,106
    MUTUAL OF OMAHA MORTGAGE, INC. 11 4.84% $11,736
    Carrington Mortgage Services, LLC 11 4.17% $8,281
    Mortgage Network, Inc. 10 4.61% $8,310
    PROVINCE MORTGAGE ASSOCIATES, INC. 9 5.32% $7,734
    CARDINAL FINANCIAL 9 4.23% $16,164
    PENTAGON FEDERAL CREDIT UNION 9 3.21% $5,080
    GUILD MORTGAGE COMPANY 9 4.76% $7,960
    Paramount Residential Mortgage Group, Inc. 8 4.73% $7,529
    BROKER SOLUTIONS, INC. 8 4.50% $9,017
    HOMESTEAD FUNDING CORP. 7 4.23% $7,068
    CMG MORTGAGE, INC. 7 4.66% $9,480
    NBKC BANK 7 4.52% $11,225
    Wells Fargo Bank 7 4.52% $7,870
    Equity Prime Mortgage LLC 7 5.82% $9,587
    Magnolia Bank 7 4.27% $16,611
    PLANET HOME LENDING, LLC 6 3.94% $14,656
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 4.98% $9,728
    VILLAGE CAPITAL MORTGAGE 6 5.06% $18,437
    Evolve Bank & Trust 6 4.06% $9,798
    NORTHPOINT MORTGAGE, INC. 6 5.17% $10,319
    Northpointe Bank 6 5.10% $7,207
    First Federal Bank 5 4.13% $18,211
    SUN WEST MORTGAGE COMPANY, INC. 5 5.07% $7,476
    FINANCE OF AMERICA MORTGAGE LLC 4 5.28% $9,325
    ENVOY MORTGAGE, LTD 4 4.50% $10,817
    M&T Bank 4 3.41% $9,092
    EMBRACE HOME LOANS, INC. 4 5.03% $14,061
    CONTOUR MORTGAGE CORPORATION 4 4.59% $24,280
    Semper Home Loans, Inc. 4 5.56% $8,838
    Shamrock Home Loans, Inc. 4 5.19% $8,359
    Capital Bank 4 2.47% $7,925
    Bank of England 4 3.38% $9,099
    First Home Bank 4 5.03% $29,073
    AmRes Corporation 4 4.47% $10,072
    North American Savings Bank, F.S.B. 4 4.38% $8,358
    Wyndham Capital Mortgage, Inc. 3 2.67% $8,567
    ALLIED MORTGAGE GROUP, INC. 3 4.92% $5,915
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.21% $13,610
    BAY EQUITY LLC 3 4.62% $18,526
    HOMESIDE FINANCIAL, LLC 3 4.46% $13,214
    JPMorgan Chase Bank 3 4.17% $16,342
    Lakeview Community Capital, LLC 3 3.58% $5,041
    MORTGAGE EQUITY PARTNERS LLC 3 4.58% $13,512
    NATIONWIDE MORTGAGE BANKERS, INC. 3 4.92% $15,795
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.54% $13,655
    T2 FINANCIAL LLC 3 4.92% $13,645
    Watermark Capital, Inc. 3 3.38% $16,323
    INLAND BANK & TRUST 2 5.50% $17,904
    OCMBC, INC. 2 5.00% $4,797
    Texana Bank 2 4.25% $11,771
    The Central Trust Bank 2 5.13% $6,192
    BNC National Bank 2 3.25% $6,118
    NBH Bank 2 4.81% $28,415
    Leader Bank 2 4.00% $15,249
    EQUITY RESOURCES, INC. 2 5.25% $17,929
    Chelsea Groton Bank 2 5.69% $8,192
    Armed Forces Bank 2 4.06% $16,261
    NATIONS DIRECT MORTGAGE, LLC 2 6.06% $10,219
    U.S. Bank 2 3.56% $6,674
    AMERICAN FINANCING CORPORATION 2 3.87% $6,909
    Strong Home Mortgage, LLC 2 3.44% $10,059
    ACADEMY MORTGAGE CORPORATION 2 4.81% $7,839
    EMM LOANS LLC 2 4.81% $15,816
    LOANPAL, LLC 2 3.56% $16,027
    LEADERONE FINANCIAL CORPORATION 2 6.19% $1,991
    DAS Acquisition Company, LLC 1 5.75% $12,473
    PNC Bank 1 3.75% $2,859
    PREMIA MORTGAGE, LLC 1 5.13% $8,348
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $4,510
    Community First National Bank 1 2.88% $8,090
    Princeton Mortgage Corporation 1 3.63% $13,077
    Citibank 1 2.50% $8,870
    CHURCHILL MORTGAGE CORPORATION 1 5.75% $14,405
    CHERRY CREEK MORTGAGE, LLC 1 4.50% $17,891
    Quontic Bank 1 6.88% $17,350
    RADIUS FINANCIAL GROUP INC. 1 3.38% $8,629
    RESIDENTIAL BANCORP 1 3.75% $9,012
    Century Mortgage Company DBA Century Lending Company 1 4.75% $5,820
    CALCON MUTUAL MORTGAGE LLC 1 5.25% $9,249
    West Town Bank & Trust 1 4.63% $25,899
    TBI MORTGAGE COMPANY 1 3.13% $15,932
    The Washington Trust Company, of Westerly 1 4.75% $3,239
    Bank of America 1 4.75% $4,988
    UNION HOME MORTGAGE CORP. 1 3.88% $13,041
    UNITED MORTGAGE CORP 1 6.50% $12,126
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $23,592
    MORTGAGE ACCESS CORP. 1 4.75% $5,382
    Meridian Bank Corporation 1 4.88% $10,162
    Liberty Bank 1 5.00% $10,364
    KeyBank 1 2.50% $1,798
    Nations Lending Corporation 1 4.75% $9,420
    Waterstone Mortgage Corporation 1 5.13% $7,181
    Hometown Lenders, Inc. 1 5.25% $13,264
    HomePromise Corporation 1 6.25% $16,843
    NEW FED MORTGAGE, CORP. 1 2.75% $3,518
    Home Loan Investment Bank, F.S.B. 1 5.63% $4,519
    HARBORONE MORTGAGE, LLC 1 5.63% $11,291
    NORTHEAST HOME LOAN, LLC 1 5.13% $14,511
    FM Home Loans, LLC 1 3.25% $7,000
    First Guaranty Mortgage Corporation 1 2.75% $6,897
    First Federal Bank of Kansas City 1 5.13% $3,704
    NP, Inc. 1 3.25% $5,416
    OCEANSIDE MORTGAGE COMPANY 1 4.99% $1,799
    FIRST COMMUNITY MORTGAGE, INC. 1 6.50% $7,904
    EVANSVILLE TEACHERS 1 5.63% $6,431
    People's United Bank 1 2.75% $7,201

    The top Connecticut VA lender as defined by loan originations is Mortgage Research Center, LLC, with 558 VA loans originated. Their average total fees are $8,596, which is $3,584 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Connecticut VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,106), MOVEMENT MORTGAGE, LLC ($7,650), NAVY FEDERAL CREDIT UNION ($7,928), Carrington Mortgage Services, LLC ($8,281) and Mortgage Network, Inc. ($8,310).

    The lowest rate Connecticut VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.30%), LAKEVIEW LOAN SERVICING, LLC (3.33%), NAVY FEDERAL CREDIT UNION (3.87%), LOANDEPOT.COM, LLC (3.92%) and QUICKEN LOANS, LLC (4.03%).

    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.