Connecticut VA Loan Rates, Closing Costs & Stats

Connecticut

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.