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 0.37% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Connecticut's average VA mortgage closing costs are $7,038.

    The average rate for the prior week (2024-11-08) was 6.58% and one month ago for the week of 2024-10-11, the average rate was 6.24%.

    The average rate one year ago was 7.43%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.4%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 404 6.72% $9,619
    NAVY FEDERAL CREDIT UNION 151 5.86% $7,928
    QUICKEN LOANS, LLC 116 6.18% $13,808
    UNITED WHOLESALE MORTGAGE, LLC 114 6.42% $10,526
    USAA Federal Savings Bank 52 6.37% $11,105
    MOVEMENT MORTGAGE, LLC 51 6.36% $7,369
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 6.74% $10,275
    LOANDEPOT.COM, LLC 40 6.34% $15,829
    TOTAL MORTGAGE SERVICES, LLC 39 6.53% $12,151
    FREEDOM MORTGAGE CORPORATION 37 6.69% $17,971
    GUARANTEED RATE, INC. 36 6.52% $8,725
    PENNYMAC LOAN SERVICES, LLC 34 5.64% $9,799
    The Federal Savings Bank 26 6.37% $17,151
    NORWICH COMMERCIAL GROUP, INC. 24 6.50% $8,088
    NEW DAY FINANCIAL, LLC 24 7.51% $16,217
    Mr. Cooper ( Nationstar Mortgage ) 20 5.95% $14,752
    CROSSCOUNTRY MORTGAGE, LLC 18 6.70% $7,989
    Prosperity Home Mortgage, LLC 17 6.15% $10,768
    HOMEBRIDGE FINANCIAL SERVICES, INC. 17 6.48% $10,746
    PLAZA HOME MORTGAGE, INC. 16 6.44% $11,513
    NEWREZ LLC 16 6.48% $11,882
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 6.22% $10,810
    T2 FINANCIAL LLC 12 6.65% $10,589
    CMG MORTGAGE, INC. 12 6.31% $9,347
    GUARANTEED RATE AFFINITY, LLC 11 6.15% $7,865
    Citizens Bank 10 6.44% $12,014
    Barrington Bank & Trust Company, N.A. 10 6.43% $9,626
    PROVINCE MORTGAGE ASSOCIATES, INC. 9 7.24% $12,680
    AMERISAVE MORTGAGE CORPORATION 9 5.79% $26,237
    FIRST WORLD MORTGAGE CORPORATION 9 6.17% $11,184
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.50% $12,608
    HOMESTEAD FUNDING CORP. 8 6.31% $7,966
    NBKC BANK 8 6.09% $7,456
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.18% $15,894
    Semper Home Loans, Inc. 7 6.75% $15,915
    PRIMELENDING, A PLAINSCAPITAL COMPANY 7 7.02% $13,959
    Paramount Residential Mortgage Group, Inc. 7 6.63% $13,357
    PENTAGON FEDERAL CREDIT UNION 6 6.08% $11,493
    BROKER SOLUTIONS, INC. 6 6.63% $11,852
    Flagstar Bank, FSB 6 6.40% $11,042
    CARDINAL FINANCIAL 6 6.13% $20,329
    Waterstone Mortgage Corporation 6 6.79% $15,432
    MORTGAGE EQUITY PARTNERS LLC 5 6.07% $13,015
    U.S. Bank 5 6.07% $17,656
    EVERETT FINANCIAL, INC. 5 7.20% $8,415
    Leader Bank 4 6.38% $10,469
    Wells Fargo Bank 4 6.06% $8,210
    ENVOY MORTGAGE, LTD 4 6.53% $22,694
    Magnolia Bank 4 6.62% $21,631
    PLANET HOME LENDING, LLC 3 6.29% $6,712
    NORTHPOINT MORTGAGE, INC. 3 6.46% $9,476
    PHH Mortgage Corporation 3 6.66% $15,696
    Equity Prime Mortgage LLC 3 6.79% $17,651
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.29% $21,176
    CALIBER HOME LOANS, INC. 3 6.33% $17,376
    VILLAGE CAPITAL MORTGAGE 3 5.79% $16,818
    GUILD MORTGAGE COMPANY 3 7.08% $14,096
    Lakeview Community Capital, LLC 3 6.67% $11,304
    NATIONS DIRECT MORTGAGE, LLC 3 6.66% $13,156
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.25% $20,386
    HARBORONE MORTGAGE, LLC 2 6.38% $6,929
    AMERICAN FINANCIAL NETWORK, INC. 2 6.94% $17,615
    TJC Mortgage, Inc. 2 5.50% $17,447
    First Federal Bank 2 6.13% $5,237
    NFM, INC. 2 6.38% $2,563
    Acre Mortgage and Financial Inc 2 6.31% $15,185
    RESIDENTIAL HOME FUNDING CORP. 2 5.63% $12,768
    POLARIS HOME FUNDING CORP. 2 6.88% $13,929
    EMM LOANS LLC 2 6.19% $12,651
    Plains Commerce Bank 2 6.19% $7,354
    OCMBC, INC. 2 6.25% $29,623
    CONTOUR MORTGAGE CORPORATION 2 6.00% $11,083
    Strong Home Mortgage, LLC 1 6.25% $6,123
    ALLIED MORTGAGE GROUP, INC. 1 5.63% $6,090
    AMCAP MORTGAGE, LTD. 1 6.00% $12,365
    Armed Forces Bank 1 7.25% $4,599
    Bank of England 1 6.25% $4,670
    BAY EQUITY LLC 1 6.50% $13,558
    BNC National Bank 1 5.63% $9,992
    CALCON MUTUAL MORTGAGE LLC 1 7.00% $10,023
    Capital Bank 1 6.63% $16,706
    Chelsea Groton Bank 1 6.13% $3,853
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $21,655
    Community First National Bank 1 7.13% $10,539
    DAS Acquisition Company, LLC 1 7.75% $600
    East Coast Capital Corp. 1 5.75% $10,423
    Eastern Bank 1 6.38% $18,945
    EQUITY RESOURCES, INC. 1 6.99% $9,636
    Evolve Bank & Trust 1 5.75% $10,126
    FM Home Loans, LLC 1 5.63% $9,136
    Gateway First Bank 1 6.13% $10,301
    GENEVA FINANCIAL, LLC 1 7.25% $8,374
    JPMorgan Chase Bank 1 6.75% $2,333
    KeyBank 1 6.38% $4,154
    LAKEVIEW LOAN SERVICING, LLC 1 6.00% $12,443
    LEADERONE FINANCIAL CORPORATION 1 7.25% $9,155
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.25% $12,518
    M&T Bank 1 5.25% $15,861
    Nations Lending Corporation 1 6.25% $9,721
    NBH Bank 1 5.75% $10,700
    Northpointe Bank 1 6.25% $20,032
    PREMIA MORTGAGE, LLC 1 6.25% $8,857
    Presidential Bank, FSB 1 6.13% $24,327
    Residential Mortgage Solutions, Inc. 1 6.63% $12,712
    SeaTrust Mortgage Company 1 5.00% $44,786
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $16,740
    Shamrock Home Loans, Inc. 1 6.63% $27,103
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.63% $8,968
    TD Bank 1 6.13% $9,337
    TOP FLITE FINANCIAL, INC. 1 6.75% $16,111
    TOWNE MORTGAGE COMPANY 1 5.75% $14,785

    The top Connecticut VA lender as defined by loan originations is Mortgage Research Center, LLC, with 404 VA loans originated. Their average total fees are $9,619, which is $1,691 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

    The lowest fee Connecticut VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($7,369), GUARANTEED RATE AFFINITY, LLC ($7,865), NAVY FEDERAL CREDIT UNION ($7,928), CROSSCOUNTRY MORTGAGE, LLC ($7,989) and NORWICH COMMERCIAL GROUP, INC. ($8,088).

    The lowest rate Connecticut VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.64%), NAVY FEDERAL CREDIT UNION (5.86%), Mr. Cooper ( Nationstar Mortgage ) (5.95%), GUARANTEED RATE AFFINITY, LLC (6.15%) and Prosperity Home Mortgage, LLC (6.15%).

    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.