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 6.37% for the week of 2023-03-17, compared to the national average (all VA variants) of 6.138% for the same period.

    Massachusetts's average VA mortgage closing costs are $6,204.

    The average rate for the prior week (2023-03-10) was 6.86% and one month ago for the week of 2023-02-10, the average rate was 6.38%.

    The average rate one year ago was 3.98%.

    For refis of the same type during the week of 2023-03-17, the average rate was 6.27%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,121 2.46% $5,814
    Mortgage Research Center, LLC 926 2.82% $8,086
    FREEDOM MORTGAGE CORPORATION 640 2.43% $3,097
    PENNYMAC LOAN SERVICES, LLC 620 2.36% $6,363
    LOANDEPOT.COM, LLC 393 2.53% $5,644
    GUARANTEED RATE, INC. 375 2.53% $5,062
    LAKEVIEW LOAN SERVICING, LLC 311 2.45% $3,044
    NAVY FEDERAL CREDIT UNION 303 2.46% $6,852
    The Federal Savings Bank 287 2.49% $8,104
    UNITED WHOLESALE MORTGAGE, LLC 281 2.51% $6,422
    USAA Federal Savings Bank 269 2.84% $6,190
    CALIBER HOME LOANS, INC. 254 2.51% $4,700
    CROSSCOUNTRY MORTGAGE, LLC 222 2.71% $8,169
    Mr. Cooper ( Nationstar Mortgage ) 218 2.64% $4,504
    RESIDENTIAL MORTGAGE SERVICES, INC. 189 2.62% $6,743
    NEWREZ LLC 159 2.62% $5,507
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 146 2.83% $7,592
    AMERICAN FINANCIAL NETWORK, INC. 127 2.51% $11,364
    HOME POINT FINANCIAL CORPORATION 118 2.44% $5,703
    Mortgage Network, Inc. 117 2.74% $7,207
    RADIUS FINANCIAL GROUP INC. 88 2.53% $6,182
    Wells Fargo Bank 84 2.59% $4,591
    Barrington Bank & Trust Company, N.A. 79 2.65% $6,610
    Leader Bank 78 2.49% $6,407
    North American Savings Bank, F.S.B. 75 2.31% $4,610
    MOVEMENT MORTGAGE, LLC 74 2.81% $8,279
    AMERISAVE MORTGAGE CORPORATION 71 2.52% $7,664
    EMBRACE HOME LOANS, INC. 63 2.52% $5,531
    TOTAL MORTGAGE SERVICES, LLC 63 3.15% $8,357
    HOMEBRIDGE FINANCIAL SERVICES, INC. 61 2.72% $6,262
    HARBORONE MORTGAGE, LLC 59 2.71% $5,420
    BROKER SOLUTIONS, INC. 52 2.57% $6,611
    GUARANTEED RATE AFFINITY, LLC 51 2.55% $8,558
    MUTUAL OF OMAHA MORTGAGE, INC. 50 2.65% $7,525
    NEW FED MORTGAGE, CORP. 49 2.54% $8,409
    VILLAGE CAPITAL MORTGAGE 45 2.38% $5,462
    Envision Bank 42 2.67% $6,529
    First Guaranty Mortgage Corporation 40 2.43% $4,029
    ENVOY MORTGAGE, LTD 40 2.63% $4,296
    DRAPER AND KRAMER MORTGAGE CORP. 39 2.55% $5,716
    PENTAGON FEDERAL CREDIT UNION 39 2.39% $3,017
    NBKC BANK 38 2.53% $5,535
    BNC National Bank 38 2.29% $5,436
    Flagstar Bank, FSB 38 2.66% $5,527
    First Federal Bank 35 2.96% $7,863
    ACADEMY MORTGAGE CORPORATION 33 3.11% $7,978
    Citizens Bank 32 2.58% $4,930
    Evolve Bank & Trust 30 2.84% $5,281
    Shamrock Home Loans, Inc. 30 2.70% $5,912
    Magnolia Bank 29 2.45% $11,610
    First Federal Bank of Kansas City 26 2.37% $6,983
    SALEM FIVE MORTGAGE COMPANY, LLC 26 2.60% $8,610
    HANSCOM 25 3.07% $10,014
    FIRST HOME MORTGAGE CORPORATION 23 2.80% $6,512
    Nations Lending Corporation 22 2.93% $9,882
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 22 2.62% $5,325
    EQUITY RESOURCES, INC. 22 2.54% $4,895
    BAY EQUITY LLC 21 2.88% $6,713
    Northpointe Bank 20 2.77% $7,311
    KS StateBank 19 2.42% $7,347
    Bridgewater Savings Bank 18 2.40% $3,169
    Prime Choice Funding Inc. 18 2.35% $4,334
    NORTHPOINT MORTGAGE, INC. 17 2.67% $6,251
    Meridian Bank Corporation 16 2.45% $6,208
    Fall River Five Cents Savings Bank 16 2.46% $7,122
    NORWICH COMMERCIAL GROUP, INC. 16 3.21% $9,897
    Rockland Trust Company 15 2.56% $8,139
    TJC Mortgage, Inc. 14 2.24% $6,972
    MORTGAGE EQUITY PARTNERS LLC 14 2.56% $7,008
    EMM LOANS LLC 14 2.88% $12,843
    LADERA LENDING, INC. 13 2.63% $8,430
    DREW MORTGAGE ASSOCIATES, INC. 13 2.64% $3,932
    HANCOCK MORTGAGE PARTNERS, LLC 13 2.93% $8,593
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 2.84% $8,036
    Sierra Pacific Mortgage Company, Inc. 12 2.69% $8,937
    Paramount Residential Mortgage Group, Inc. 12 2.75% $5,846
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 2.38% $3,137
    LEADERONE FINANCIAL CORPORATION 11 2.63% $10,188
    Paramount Bank 11 2.55% $17,875
    Bank of England 11 2.78% $7,251
    CONWAY FINANCIAL SERVICES, LLC 10 3.17% $10,728
    CONTOUR MORTGAGE CORPORATION 10 2.41% $6,756
    INLAND BANK & TRUST 10 2.88% $8,953
    RELIANCE FIRST CAPITAL, LLC 10 2.75% $10,344
    ALLIED MORTGAGE GROUP, INC. 9 2.99% $6,458
    GUILD MORTGAGE COMPANY 9 2.85% $12,548
    STEARNS LENDING, LLC 9 2.39% $7,899
    Ross Mortgage Company, Inc. 9 2.69% $11,754
    TD Bank 8 2.83% $4,342
    West Town Bank & Trust 8 2.67% $10,501
    OCMBC, INC. 8 2.77% $6,734
    First Savings Bank 8 2.28% $6,525
    Mid-Continent Funding, Inc. 8 2.63% $6,668
    Equity Prime Mortgage LLC 8 3.06% $8,524
    The Camden National Bank 8 2.34% $5,609
    Capital Bank 7 2.25% $3,563
    Network Funding, L.P. 7 2.84% $10,250
    HOMESTEAD FUNDING CORP. 7 2.45% $2,547
    Adams Community Bank 6 3.29% $3,298
    Poli Mortgage Group, Inc. 6 2.33% $2,944
    The Washington Trust Company, of Westerly 6 2.46% $5,415
    First Home Bank 6 2.44% $4,351
    Ixonia Bank 6 2.75% $7,967
    BAYSHORE MORTGAGE FUNDING, LLC 6 2.67% $8,234
    NP, Inc. 6 2.29% $5,039
    U.S. Bank 6 2.83% $18,027
    PLAZA HOME MORTGAGE, INC. 6 2.69% $10,865
    FINANCE OF AMERICA MORTGAGE LLC 5 2.55% $5,786
    LENOX FINANCIAL MORTGAGE CORPORATION 5 2.63% $6,489
    AMERICAN FINANCING CORPORATION 5 2.58% $2,436
    Bangor Savings Bank 5 2.63% $5,344
    MSA MORTGAGE, LLC 5 2.63% $7,445
    CHURCHILL MORTGAGE CORPORATION 5 2.48% $7,205
    NFM, INC. 5 2.98% $9,660
    NORTHERN MORTGAGE SERVICES, LLC 5 2.67% $4,217
    Berkshire Bank 4 2.72% $4,472
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.88% $10,596
    Workers Credit Union 4 2.97% $4,131
    Eastern Bank 4 2.88% $5,140
    CMG MORTGAGE, INC. 4 2.62% $6,021
    UNION HOME MORTGAGE CORP. 4 2.41% $6,658
    M&T Bank 4 2.50% $4,862
    EVERETT FINANCIAL, INC. 3 3.71% $6,547
    Strong Home Mortgage, LLC 3 2.42% $964
    Community First National Bank 3 2.63% $14,379
    Santander Bank, N.A. 3 2.71% $3,012
    HOMESPIRE MORTGAGE CORPORATION 3 2.63% $3,152
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.33% $8,857
    HOMESIDE FINANCIAL, LLC 3 2.50% $10,881
    FIRST WORLD MORTGAGE CORPORATION 3 2.88% $7,056
    Presidential Bank, FSB 2 2.31% $5,765
    GUARANTY HOME MORTGAGE CORPORATION 2 2.44% $3,429
    Home Loan Investment Bank, F.S.B. 2 2.69% $3,399
    InterContinental Capital Group, Inc 2 2.38% $4,671
    LENDUS, LLC 2 2.75% $7,383
    FBC MORTGAGE, LLC 2 2.25% $2,908
    MID AMERICA MORTGAGE, INC. 2 2.56% $1,839
    MID-ISLAND MORTGAGE CORP. 2 2.56% $14,913
    MountainOne Bank 2 2.88% $6,562
    NATIONS DIRECT MORTGAGE, LLC 2 2.38% $5,269
    NBH Bank 2 2.50% $5,648
    Chickasaw Community Bank 2 3.19% $14,318
    Carrington Mortgage Services, LLC 2 2.25% $4,771
    NJ LENDERS CORP. 2 2.50% $6,236
    OCEANSIDE MORTGAGE COMPANY 2 2.37% $1,073
    Bank of America 2 3.06% $3,826
    PNC Bank 2 3.00% $2,539
    PREMIA MORTGAGE, LLC 2 2.25% $5,277
    ZILLOW HOME LOANS, LLC 2 2.56% $8,263
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 2.69% $10,383
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.81% $6,113
    ARC HOME LLC 2 2.56% $2,840
    Service Federal Credit Union 2 2.75% $6,801
    SIWELL, INC. 2 2.25% $18,546
    TOP FLITE FINANCIAL, INC. 2 3.13% $22,259
    Truist 2 2.75% $6,571
    VAN DYK MORTGAGE CORPORATION 2 2.38% $5,067
    Watermark Capital, Inc. 2 2.25% $7,311
    Republic State Mortgage Co. 1 3.00% $3,250
    Florida Capital Bank 1 2.38% $5,449
    Advisors Mortgage Group, L.L.C. 1 2.25% $2,586
    CELEBRITY HOME LOANS, LLC 1 3.99% $7,857
    RUOFF MORTGAGE COMPANY, INC. 1 2.88% $2,142
    Ameris Bank 1 2.38% $9,306
    Colonial Savings, F.A. 1 3.50% $14,507
    GENEVA FINANCIAL, LLC 1 4.13% $4,224
    SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 1 2.75% $20,450
    Amerifirst Financial, Inc. 1 2.75% $3,932
    CRESCENT MORTGAGE COMPANY 1 2.75% $8,165
    First United Bank and Trust Company 1 2.75% $13,907
    MILEND, INC. 1 3.25% $2,809
    MEMBER ADVANTAGE MORTGAGE, LLC 1 3.75% $11,247
    Fidelity Co-operative Bank 1 2.75% $8,165
    Texana Bank 1 2.75% $3,488
    FirstBank 1 2.38% $2,259
    JPMorgan Chase Bank 1 3.00% $17,610
    The Union Bank Company 1 2.25% $17,719
    ITHINK FINANCIAL Credit Union 1 2.50% $2,334
    TIAA, FSB 1 2.38% $15,013
    INTELLILOAN, INC. 1 2.25% $9,965
    First Western Trust Bank 1 2.88% $5,052
    Hometown Lenders, Inc. 1 3.75% $17,813
    Willamette Valley Bank 1 2.75% $4,755
    Hometown Equity Mortgage, LLC 1 4.25% $4,200
    Plains Commerce Bank 1 2.63% $12,461
    AMCAP MORTGAGE, LTD. 1 2.63% $10,365
    Great Plains National Bank 1 2.50% $21,134
    PHH Mortgage Corporation 1 3.38% $4,507
    PARKSIDE LENDING, LLC 1 2.75% $1,743
    First Midwest Bank 1 2.50% $2,422
    Princeton Mortgage Corporation 1 2.50% $2,795
    First Option Mortgage, LLC 1 2.25% $13,352
    Atlantic Home Loans, Inc. 1 2.88% $7,425
    Armed Forces Bank 1 2.25% $1,749
    Blue Ridge Bank 1 3.00% $3,359

    The top Massachusetts VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,121 VA loans originated. Their average total fees are $5,814, which is $2,272 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Massachusetts VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($3,017), LAKEVIEW LOAN SERVICING, LLC ($3,044), FREEDOM MORTGAGE CORPORATION ($3,097), AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC ($3,137) and Bridgewater Savings Bank ($3,169).

    The lowest rate Massachusetts VA lenders (with over 10 loans originated) are TJC Mortgage, Inc. (2.24%), BNC National Bank (2.29%), North American Savings Bank, F.S.B. (2.31%), Prime Choice Funding Inc. (2.35%) and PENNYMAC LOAN SERVICES, LLC (2.36%).

    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.