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 6.25% for the week of 2023-03-17, compared to the national average (all VA variants) of 6.138% for the same period.

    Connecticut's average VA mortgage closing costs are $6,142.

    The average rate for the prior week (2023-03-10) was 6.53% and one month ago for the week of 2023-02-10, the average rate was 6.06%.

    The average rate one year ago was 4.36%.

    For refis of the same type during the week of 2023-03-17, the average rate was 6.39%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    Mortgage Research Center, LLC 880 2.83% $6,709
    QUICKEN LOANS, LLC 576 2.48% $5,490
    NAVY FEDERAL CREDIT UNION 443 2.47% $6,679
    FREEDOM MORTGAGE CORPORATION 340 2.52% $3,243
    USAA Federal Savings Bank 240 2.87% $6,738
    PENNYMAC LOAN SERVICES, LLC 207 2.40% $6,230
    LOANDEPOT.COM, LLC 192 2.52% $7,021
    UNITED WHOLESALE MORTGAGE, LLC 153 2.56% $7,039
    GUARANTEED RATE, INC. 134 2.63% $6,054
    NEW DAY FINANCIAL, LLC 125 2.83% $9,133
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 100 2.89% $8,021
    LAKEVIEW LOAN SERVICING, LLC 96 2.50% $2,959
    TOTAL MORTGAGE SERVICES, LLC 90 3.05% $10,871
    HOME POINT FINANCIAL CORPORATION 81 2.49% $6,734
    Mr. Cooper ( Nationstar Mortgage ) 75 2.74% $4,498
    The Federal Savings Bank 75 2.54% $8,296
    Prosperity Home Mortgage, LLC 72 2.68% $8,870
    HOMEBRIDGE FINANCIAL SERVICES, INC. 68 2.73% $8,640
    Wells Fargo Bank 65 2.54% $5,260
    NORWICH COMMERCIAL GROUP, INC. 64 3.15% $7,209
    CALIBER HOME LOANS, INC. 63 2.59% $5,964
    Citizens Bank 61 2.59% $7,899
    GUARANTEED RATE AFFINITY, LLC 59 2.74% $5,996
    CROSSCOUNTRY MORTGAGE, LLC 58 2.80% $7,667
    NEWREZ LLC 57 2.59% $5,722
    Barrington Bank & Trust Company, N.A. 46 2.77% $5,858
    MOVEMENT MORTGAGE, LLC 46 2.82% $9,043
    ACCELERATE MORTGAGE, LLC 46 2.35% $6,844
    Carrington Mortgage Services, LLC 41 2.83% $5,787
    FIRST WORLD MORTGAGE CORPORATION 41 3.09% $9,172
    PRIMELENDING, A PLAINSCAPITAL COMPANY 36 2.94% $6,378
    PENTAGON FEDERAL CREDIT UNION 36 2.34% $2,847
    VILLAGE CAPITAL MORTGAGE 31 2.37% $3,081
    BROKER SOLUTIONS, INC. 24 2.79% $5,269
    AMERISAVE MORTGAGE CORPORATION 24 2.63% $6,521
    AMERICAN FINANCIAL NETWORK, INC. 23 2.65% $12,895
    PLAZA HOME MORTGAGE, INC. 22 3.02% $7,143
    Low VA Rates, LLC 22 2.31% $4,467
    Flagstar Bank, FSB 21 2.89% $9,704
    PLANET HOME LENDING, LLC 18 2.58% $2,614
    First Guaranty Mortgage Corporation 18 2.50% $4,666
    North American Savings Bank, F.S.B. 17 2.44% $7,071
    NBKC BANK 16 2.46% $6,376
    Magnolia Bank 16 2.66% $11,408
    CONTOUR MORTGAGE CORPORATION 16 2.59% $7,050
    HOMESTEAD FUNDING CORP. 16 2.90% $7,079
    MUTUAL OF OMAHA MORTGAGE, INC. 16 2.84% $7,424
    Paramount Residential Mortgage Group, Inc. 15 2.93% $7,066
    PRIMARY RESIDENTIAL MORTGAGE, INC. 15 3.10% $8,568
    Lakeview Community Capital, LLC 14 2.58% $2,191
    BNC National Bank 13 2.32% $4,584
    ENVOY MORTGAGE, LTD 13 3.27% $7,973
    SUN WEST MORTGAGE COMPANY, INC. 13 2.45% $6,063
    Atlantic Home Loans, Inc. 12 2.91% $3,723
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 12 2.86% $7,038
    RESIDENTIAL MORTGAGE SERVICES, INC. 12 2.82% $5,317
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 2.75% $4,977
    NP, Inc. 10 2.29% $3,732
    InterContinental Capital Group, Inc 10 2.79% $6,211
    First Federal Bank 10 2.84% $12,397
    Mortgage Network, Inc. 10 3.03% $5,173
    EQUITY RESOURCES, INC. 9 2.58% $9,733
    PROVINCE MORTGAGE ASSOCIATES, INC. 9 3.10% $8,108
    EMBRACE HOME LOANS, INC. 9 2.56% $8,856
    KS StateBank 8 2.45% $9,028
    BAY EQUITY LLC 8 2.92% $5,433
    SOVEREIGN LENDING GROUP INCORPORATED 8 2.56% $7,852
    Evolve Bank & Trust 8 2.66% $5,548
    NORTHPOINT MORTGAGE, INC. 7 2.66% $4,985
    HOMESIDE FINANCIAL, LLC 7 2.91% $3,462
    Bank of England 7 2.79% $6,830
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 3.18% $7,540
    First Home Bank 6 2.52% $3,524
    Berkshire Bank 6 2.33% $8,077
    AmeriHome Mortgage Company, LLC 5 2.67% $3,025
    Leader Bank 5 2.40% $9,444
    Liberty Bank 5 2.95% $8,568
    ACADEMY MORTGAGE CORPORATION 4 3.22% $12,177
    AMERICAN FINANCING CORPORATION 4 2.78% $7,092
    AmRes Corporation 4 2.28% $1,966
    CMG MORTGAGE, INC. 4 2.53% $11,638
    FINANCE OF AMERICA MORTGAGE LLC 4 2.69% $4,839
    First Federal Bank of Kansas City 4 2.56% $3,131
    KeyBank 4 2.69% $7,544
    M&T Bank 4 2.84% $18,269
    Northpointe Bank 4 2.78% $5,850
    People's United Bank 4 2.91% $5,454
    Shamrock Home Loans, Inc. 4 2.59% $3,982
    Wyndham Capital Mortgage, Inc. 4 2.47% $9,005
    Paramount Bank 3 2.96% $6,582
    U.S. Bank 3 2.67% $10,957
    Nations Lending Corporation 3 2.75% $8,073
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 3 2.58% $7,182
    First Savings Bank 3 2.46% $6,775
    OCEANSIDE MORTGAGE COMPANY 3 2.58% $1,202
    Texana Bank 3 2.33% $12,094
    RELIANCE FIRST CAPITAL, LLC 3 2.79% $8,830
    Equity Prime Mortgage LLC 3 2.92% $6,640
    FirstBank 3 2.71% $1,624
    Capital Bank 3 2.42% $3,027
    POLARIS HOME FUNDING CORP. 3 2.54% $8,198
    GUILD MORTGAGE COMPANY 3 2.63% $9,047
    Community First National Bank 3 2.84% $10,931
    PHH Mortgage Corporation 3 3.46% $3,218
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.54% $3,362
    PARKSIDE LENDING, LLC 3 2.29% $8,412
    KELLER MORTGAGE, LLC 3 2.50% $7,176
    TD Bank 2 2.75% $2,226
    Home Mortgage Alliance Corp 2 3.46% $11,472
    LOANPAL, LLC 2 2.56% $4,174
    HARBORONE MORTGAGE, LLC 2 2.69% $6,328
    Goldwater Bank, N.A. 2 2.50% $6,578
    Watermark Capital, Inc. 2 2.25% $10,515
    NATIONS DIRECT MORTGAGE, LLC 2 3.31% $6,534
    NATIONWIDE MORTGAGE BANKERS, INC. 2 3.00% $11,511
    First Mortgage Solutions, LLC 2 2.13% $3,322
    Network Funding, L.P. 2 2.56% $6,983
    NJ LENDERS CORP. 2 2.56% $3,111
    EVERETT FINANCIAL, INC. 2 3.44% $3,624
    EMM LOANS LLC 2 2.81% $8,988
    PANORAMA MORTGAGE GROUP, LLC 2 3.38% $19,030
    DRAPER AND KRAMER MORTGAGE CORP. 2 2.25% $2,847
    DAS Acquisition Company, LLC 2 2.75% $13,570
    ALLIED MORTGAGE GROUP, INC. 2 3.13% $3,132
    CHERRY CREEK MORTGAGE, LLC 2 2.25% $1,091
    BAYSHORE MORTGAGE FUNDING, LLC 2 2.31% $4,745
    Sunflower Bank 2 2.31% $4,136
    LENDUS, LLC 2 2.50% $7,706
    The Central Trust Bank 2 2.25% $5,399
    The Washington Trust Company, of Westerly 2 2.63% $10,355
    TJC Mortgage, Inc. 2 2.25% $3,713
    Assurance Financial Group, L.L.C. 2 2.44% $6,608
    UNION HOME MORTGAGE CORP. 2 2.50% $6,216
    INLAND BANK & TRUST 2 3.13% $2,834
    LEADERONE FINANCIAL CORPORATION 2 2.63% $6,577
    GREENWAY MORTGAGE FUNDING CORP. 1 2.88% $11,561
    Citibank 1 2.88% $14,349
    PNC Bank 1 3.13% $1,957
    MORTGAGE ACCESS CORP. 1 3.25% $4,141
    Presidential Bank, FSB 1 2.38% $4,485
    Ixonia Bank 1 2.88% $4,147
    Chelsea Groton Bank 1 3.25% $19,022
    CELEBRITY HOME LOANS, LLC 1 3.00% $7,415
    MORTGAGE 1 INCORPORATED 1 2.75% $18,855
    BOKF 1 2.38% $4,826
    MID-ISLAND MORTGAGE CORP. 1 3.50% $6,575
    Blue Ridge Bank 1 3.50% $16,268
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $8,425
    ZILLOW HOME LOANS, LLC 1 2.63% $19,227
    SIWELL, INC. 1 2.25% $3,663
    Meridian Bank Corporation 1 2.63% $4,650
    STEARNS LENDING, LLC 1 3.25% $3,273
    Stifel Bank and Trust 1 2.25% $4,058
    Strong Home Mortgage, LLC 1 2.50% $41,651
    SUCCESS MORTGAGE PARTNERS, INC. 1 3.00% $3,149
    Arvest Bank 1 2.25% $3,866
    Bank of America 1 2.88% $4,609
    Armed Forces Bank 1 2.25% $5,541
    MID AMERICA MORTGAGE, INC. 1 2.75% $1,424
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.75% $7,842
    Austin Capital Bank SSB 1 3.25% $2,595
    The Huntington National Bank 1 3.63% $5,392
    NFM, INC. 1 3.25% $12,274
    The Union Bank Company 1 2.63% $9,847
    FBC MORTGAGE, LLC 1 2.25% $3,877
    Webster Bank 1 2.50% $7,297
    Home Loan Investment Bank, F.S.B. 1 2.75% $10,218
    FIRST HOME MORTGAGE CORPORATION 1 2.88% $21,877
    TIAA, FSB 1 2.25% $6,949
    NBH Bank 1 2.88% $2,520
    OCMBC, INC. 1 3.75% $10,119
    HomePromise Corporation 1 3.13% $9,716
    FM Home Loans, LLC 1 2.25% $13,233
    DREW MORTGAGE ASSOCIATES, INC. 1 3.25% $4,866
    GENEVA FINANCIAL, LLC 1 3.00% $3,869
    JPMorgan Chase Bank 1 3.50% $14,394
    Triumph Bank 1 2.25% $234
    Truist 1 2.50% $6,742
    Mortgage Unlimited, L.L.C. 1 2.50% $4,419
    Plains Commerce Bank 1 2.88% $19,325

    The top Connecticut VA lender as defined by loan originations is Mortgage Research Center, LLC, with 880 VA loans originated. Their average total fees are $6,709, which is $1,219 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Connecticut VA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($2,191), PLANET HOME LENDING, LLC ($2,614), PENTAGON FEDERAL CREDIT UNION ($2,847), LAKEVIEW LOAN SERVICING, LLC ($2,959) and VILLAGE CAPITAL MORTGAGE ($3,081).

    The lowest rate Connecticut VA lenders (with over 10 loans originated) are NP, Inc. (2.29%), Low VA Rates, LLC (2.31%), BNC National Bank (2.32%), PENTAGON FEDERAL CREDIT UNION (2.34%) and ACCELERATE MORTGAGE, LLC (2.35%).

    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.