Massachusetts VA Loan Rates, Closing Costs & Stats

Massachusetts

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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.

    Massachusetts VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Massachusetts averaged 6.11% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Massachusetts's average VA mortgage closing costs are $6,997.

    The average rate for the prior week (2024-12-06) was 6.05% and one month ago for the week of 2024-11-08, the average rate was 6.24%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.17%.

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

    Massachusetts 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 Massachusetts level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 407 6.69% $10,856
    QUICKEN LOANS, LLC 169 6.06% $14,482
    NAVY FEDERAL CREDIT UNION 124 5.86% $8,032
    LOANDEPOT.COM, LLC 115 6.02% $15,954
    UNITED WHOLESALE MORTGAGE, LLC 111 6.38% $9,954
    GUARANTEED RATE, INC. 87 6.27% $11,061
    PENNYMAC LOAN SERVICES, LLC 75 5.48% $10,083
    MOVEMENT MORTGAGE, LLC 72 6.34% $10,058
    FREEDOM MORTGAGE CORPORATION 72 6.44% $16,149
    The Federal Savings Bank 64 6.17% $20,162
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 64 6.66% $10,595
    CROSSCOUNTRY MORTGAGE, LLC 55 6.56% $11,333
    USAA Federal Savings Bank 55 6.23% $10,037
    NEWREZ LLC 35 6.36% $11,027
    GUILD MORTGAGE COMPANY 31 6.71% $10,970
    RADIUS FINANCIAL GROUP INC. 24 6.48% $15,429
    CMG MORTGAGE, INC. 23 6.61% $10,729
    TOTAL MORTGAGE SERVICES, LLC 23 6.64% $15,673
    Leader Bank 22 6.29% $9,077
    Mr. Cooper ( Nationstar Mortgage ) 20 5.99% $15,941
    GUARANTEED RATE AFFINITY, LLC 20 6.24% $9,467
    AMERICAN FINANCIAL NETWORK, INC. 17 6.53% $10,913
    AMERISAVE MORTGAGE CORPORATION 16 5.80% $16,550
    Shamrock Home Loans, Inc. 15 6.21% $8,997
    Barrington Bank & Trust Company, N.A. 15 6.33% $16,236
    PENTAGON FEDERAL CREDIT UNION 15 5.41% $9,571
    ACADEMY MORTGAGE CORPORATION 14 6.79% $6,931
    BROKER SOLUTIONS, INC. 13 6.53% $12,537
    Magnolia Bank 11 6.04% $18,373
    MUTUAL OF OMAHA MORTGAGE, INC. 11 6.40% $15,795
    HOMEBRIDGE FINANCIAL SERVICES, INC. 11 6.34% $12,405
    NORWICH COMMERCIAL GROUP, INC. 10 6.59% $12,881
    VILLAGE CAPITAL MORTGAGE 10 5.99% $11,200
    NBKC BANK 10 6.23% $12,259
    Northpointe Bank 9 6.44% $9,447
    RELIANCE FIRST CAPITAL, LLC 9 6.56% $10,046
    NORTHPOINT MORTGAGE, INC. 9 6.74% $9,182
    Armed Forces Bank 8 6.28% $16,550
    SALEM FIVE MORTGAGE COMPANY, LLC 8 6.64% $11,189
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.17% $8,469
    HARBORONE MORTGAGE, LLC 8 6.83% $8,628
    Evolve Bank & Trust 8 6.77% $9,767
    BAYCOAST MORTGAGE COMPANY, LLC 7 6.18% $10,509
    PRIMELENDING, A PLAINSCAPITAL COMPANY 7 6.63% $10,577
    BNC National Bank 7 5.61% $11,119
    MORTGAGE EQUITY PARTNERS LLC 7 6.70% $11,287
    CARDINAL FINANCIAL 7 6.86% $12,639
    GENEVA FINANCIAL, LLC 7 6.86% $11,056
    U.S. Bank 6 6.33% $7,992
    The Camden National Bank 6 6.15% $11,216
    Wells Fargo Bank 6 5.85% $5,249
    The Washington Trust Company, of Westerly 6 6.67% $11,884
    ENVOY MORTGAGE, LTD 6 6.50% $8,024
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.81% $6,114
    Keystone Funding, Inc. 6 6.31% $9,904
    Paramount Residential Mortgage Group, Inc. 5 6.05% $12,779
    Semper Home Loans, Inc. 5 6.68% $21,848
    LAKEVIEW LOAN SERVICING, LLC 5 6.23% $15,520
    Citizens Bank 5 6.48% $10,647
    North American Savings Bank, F.S.B. 5 5.75% $6,643
    HOMESTEAD FUNDING CORP. 5 7.05% $10,693
    Nations Lending Corporation 5 7.00% $10,833
    FIRST MORTGAGE COMPANY, INC. 5 6.15% $6,515
    DRAPER AND KRAMER MORTGAGE CORP. 4 6.03% $12,627
    Bank of England 4 6.38% $19,347
    ALLIED MORTGAGE GROUP, INC. 4 6.38% $12,521
    DREW MORTGAGE ASSOCIATES, INC. 4 6.50% $6,416
    Sierra Pacific Mortgage Company, Inc. 4 6.19% $12,964
    EMBRACE HOME LOANS, INC. 4 6.47% $9,593
    EQUITY RESOURCES, INC. 4 6.50% $7,605
    HANSCOM 4 6.41% $2,706
    LEADERONE FINANCIAL CORPORATION 4 6.44% $12,917
    Prosperity Home Mortgage, LLC 3 6.00% $10,774
    JPMorgan Chase Bank 3 6.33% $9,661
    MILEND, INC. 3 6.08% $13,174
    Flagstar Bank, FSB 3 5.98% $9,865
    FIRST HOME MORTGAGE CORPORATION 3 6.46% $24,255
    EVERETT FINANCIAL, INC. 3 6.21% $9,319
    EMM LOANS LLC 3 6.67% $8,723
    Presidential Bank, FSB 3 6.04% $21,596
    CONTOUR MORTGAGE CORPORATION 3 5.54% $20,894
    NATIONS DIRECT MORTGAGE, LLC 3 6.38% $8,838
    Strong Home Mortgage, LLC 3 5.58% $7,400
    Plains Commerce Bank 3 6.17% $11,105
    NFM, INC. 3 6.08% $9,228
    BAY EQUITY LLC 2 6.56% $4,488
    Berkshire Bank 2 6.25% $12,274
    Bridgewater Savings Bank 2 5.94% $2,461
    CIBM Bank 2 6.94% $5,885
    CONWAY FINANCIAL SERVICES, LLC 2 6.50% $14,940
    Fall River Five Cents Savings Bank 2 6.88% $10,384
    FBC MORTGAGE, LLC 2 6.75% $12,265
    First Federal Bank 2 6.38% $12,497
    FIRST WORLD MORTGAGE CORPORATION 2 6.50% $12,796
    LADERA LENDING, INC. 2 6.69% $13,520
    NEW FED MORTGAGE, CORP. 2 5.94% $15,595
    OCMBC, INC. 2 7.19% $6,743
    PHH Mortgage Corporation 2 5.56% $14,247
    PLAZA HOME MORTGAGE, INC. 2 6.75% $3,993
    PREMIA MORTGAGE, LLC 2 5.94% $4,272
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 6.56% $9,129
    Rockland Trust Company 2 6.81% $8,865
    AMERICAN INTERNET MORTGAGE, INC. 1 5.50% $11,094
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $10,512
    M&T Bank 1 5.75% $7,262
    Mid-Continent Funding, Inc. 1 6.75% $7,448
    LOANPAL, LLC 1 5.99% $13,367
    Adams Community Bank 1 5.75% $3,340
    HOMESIDE FINANCIAL, LLC 1 6.75% $3,195
    Home Loan Investment Bank, F.S.B. 1 5.75% $6,154
    First Savings Bank 1 5.25% $9,695
    Residential Mortgage Solutions, Inc. 1 6.63% $10,265
    ZILLOW HOME LOANS, LLC 1 6.63% $4,810
    First National Bank Texas 1 7.13% $5,359
    FIRST COMMUNITY MORTGAGE, INC. 1 7.50% $13,744
    Service Federal Credit Union 1 7.13% $2,956
    Equity Prime Mortgage LLC 1 6.75% $7,582
    Easthampton Savings Bank 1 6.75% $3,451
    COMMUNITYAMERICA 1 6.63% $23,740
    T2 FINANCIAL LLC 1 7.25% $12,211
    Capital Bank 1 6.00% $17,226
    BM Real Estate Services, Inc. 1 7.25% $22,788
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.88% $11,054
    TOP FLITE FINANCIAL, INC. 1 6.75% $12,525
    Academy Bank 1 6.13% $11,081
    TOWNE MORTGAGE COMPANY 1 6.50% $17,411
    Bank of America 1 7.13% $4,199
    Old National Bank 1 5.99% $10,332
    Network Funding, L.P. 1 7.63% $7,272
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.99% $19,846
    American Mortgage & Equity Consultants, Inc. 1 6.50% $16,357
    NATIONS RELIABLE LENDING, LLC 1 6.50% $1,285

    The top Massachusetts VA lender as defined by loan originations is Mortgage Research Center, LLC, with 407 VA loans originated. Their average total fees are $10,856, which is $3,626 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Massachusetts VA lenders (with over 10 loans originated) are ACADEMY MORTGAGE CORPORATION ($6,931), NAVY FEDERAL CREDIT UNION ($8,032), Shamrock Home Loans, Inc. ($8,997), Leader Bank ($9,077) and GUARANTEED RATE AFFINITY, LLC ($9,467).

    The lowest rate Massachusetts VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.41%), PENNYMAC LOAN SERVICES, LLC (5.48%), AMERISAVE MORTGAGE CORPORATION (5.80%), NAVY FEDERAL CREDIT UNION (5.86%) and VILLAGE CAPITAL MORTGAGE (5.99%).

    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.