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 6.54% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.66% and one month ago for the week of 2024-04-19, the average rate was 7.13%.

The average rate one year ago was 6.2%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.66%.

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 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.