New Jersey VA Loan Rates, Closing Costs & Stats

New Jersey

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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.

    New Jersey VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Jersey averaged 6.35% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    New Jersey's average VA mortgage closing costs are $7,649.

    The average rate for the prior week (2024-12-06) was 6.29% and one month ago for the week of 2024-11-08, the average rate was 6.38%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.53%.

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

    New Jersey 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 New Jersey level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 543 6.71% $9,997
    QUICKEN LOANS, LLC 210 6.18% $13,478
    NAVY FEDERAL CREDIT UNION 174 5.88% $8,857
    UNITED WHOLESALE MORTGAGE, LLC 166 6.29% $12,757
    CROSSCOUNTRY MORTGAGE, LLC 121 6.66% $12,980
    LOANDEPOT.COM, LLC 99 6.04% $13,573
    GUARANTEED RATE, INC. 86 6.32% $10,137
    The Federal Savings Bank 78 6.22% $19,956
    FREEDOM MORTGAGE CORPORATION 75 6.60% $18,881
    NEW DAY FINANCIAL, LLC 75 7.37% $16,099
    GREENTREE MORTGAGE COMPANY, L.P. 66 6.44% $10,235
    USAA Federal Savings Bank 65 6.19% $13,148
    Advisors Mortgage Group, L.L.C. 50 6.42% $9,176
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 50 6.74% $11,246
    PENNYMAC LOAN SERVICES, LLC 49 5.87% $13,633
    NATION ONE MORTGAGE CORPORATION 48 6.60% $10,600
    NFM, INC. 46 6.43% $11,066
    NEWREZ LLC 44 6.52% $12,009
    Prosperity Home Mortgage, LLC 44 6.09% $9,459
    Paramount Residential Mortgage Group, Inc. 38 6.77% $14,849
    NVR Mortgage Finance, Inc. 36 5.50% $9,679
    Mr. Cooper ( Nationstar Mortgage ) 35 6.01% $17,116
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 35 6.71% $13,149
    NJ LENDERS CORP. 34 6.27% $11,649
    PENTAGON FEDERAL CREDIT UNION 31 5.79% $9,775
    MOVEMENT MORTGAGE, LLC 31 6.76% $12,819
    DHI MORTGAGE COMPANY, LTD. 30 6.41% $10,803
    ABSOLUTE HOME MORTGAGE CORPORATION 30 6.54% $14,496
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 29 6.44% $9,963
    MORTGAGE ACCESS CORP. 29 6.49% $12,211
    CMG MORTGAGE, INC. 29 6.80% $12,373
    Citizens Bank 24 6.32% $10,965
    CARDINAL FINANCIAL 23 6.49% $17,586
    Wells Fargo Bank 23 5.92% $9,172
    Barrington Bank & Trust Company, N.A. 23 6.36% $14,826
    GUARANTEED RATE AFFINITY, LLC 22 6.16% $9,802
    EMM LOANS LLC 21 6.58% $11,828
    Magnolia Bank 20 6.46% $19,460
    NBKC BANK 19 6.00% $8,862
    VILLAGE CAPITAL MORTGAGE 18 6.07% $15,720
    MUTUAL OF OMAHA MORTGAGE, INC. 17 6.46% $21,791
    UNION HOME MORTGAGE CORP. 16 6.63% $12,563
    AMERICAN FINANCIAL NETWORK, INC. 15 6.64% $14,368
    Gateway First Bank 14 6.56% $10,514
    BROKER SOLUTIONS, INC. 14 6.53% $14,583
    Equity Prime Mortgage LLC 14 6.60% $11,366
    AMERISAVE MORTGAGE CORPORATION 13 5.77% $21,850
    MLB RESIDENTIAL LENDING, LLC 12 6.97% $18,966
    DRAPER AND KRAMER MORTGAGE CORP. 12 6.24% $7,254
    Flagstar Bank, FSB 11 6.21% $13,901
    PLAZA HOME MORTGAGE, INC. 11 6.44% $12,554
    PLANET HOME LENDING, LLC 11 5.56% $10,465
    Northpointe Bank 11 6.38% $10,468
    SUCCESS MORTGAGE PARTNERS, INC. 11 6.31% $14,300
    PANORAMA MORTGAGE GROUP, LLC 10 6.66% $13,386
    U.S. Bank 10 6.42% $8,448
    BOND STREET MORTGAGE, LLC 9 6.30% $13,848
    Keystone Funding, Inc. 8 6.47% $10,348
    Plains Commerce Bank 8 6.08% $8,652
    HOMEBRIDGE FINANCIAL SERVICES, INC. 8 6.89% $11,547
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 8 6.52% $20,632
    ALLIED MORTGAGE GROUP, INC. 8 6.64% $9,763
    EAGLE HOME MORTGAGE, LLC 7 6.14% $2,950
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 7.50% $7,759
    LAKEVIEW LOAN SERVICING, LLC 7 6.05% $13,135
    RELIANCE FIRST CAPITAL, LLC 7 6.52% $16,778
    VAN DYK MORTGAGE CORPORATION 7 6.68% $11,187
    JPMorgan Chase Bank 7 6.30% $9,680
    Acre Mortgage and Financial Inc 7 6.78% $15,348
    CONTOUR MORTGAGE CORPORATION 6 6.25% $18,049
    First Federal Bank 6 6.52% $10,294
    1st Colonial Community Bank 5 6.78% $9,649
    The Central Trust Bank 5 5.48% $13,139
    Cornerstone First Mortgage, Inc 5 6.85% $13,857
    Nations Lending Corporation 5 6.60% $11,587
    NATIONWIDE MORTGAGE BANKERS, INC. 5 7.08% $14,058
    SUN WEST MORTGAGE COMPANY, INC. 4 6.52% $7,079
    CALIBER HOME LOANS, INC. 4 6.25% $10,515
    Waterstone Mortgage Corporation 4 6.47% $14,732
    Lakeview Community Capital, LLC 4 6.25% $19,524
    RESIDENTIAL HOME FUNDING CORP. 4 5.66% $12,474
    Credence Funding Corporation 4 6.13% $3,951
    GSF Mortgage Corporation 4 6.81% $12,199
    US MORTGAGE CORPORATION 4 6.09% $15,202
    EMBRACE HOME LOANS, INC. 4 5.84% $20,291
    NETWORK CAPITAL FUNDING CORPORATION 4 5.88% $17,896
    Armed Forces Bank 3 5.33% $9,727
    AMERICAN FEDERAL MORTGAGE CORPORATION 3 6.13% $5,319
    ATLANTIS MORTGAGE CO., INC. 3 6.50% $10,557
    BNC National Bank 3 5.67% $8,306
    Century Mortgage Company DBA Century Lending Company 3 6.21% $12,190
    Financial Freedom Mortgage, LLC 3 6.38% $15,604
    First Savings Bank 3 5.96% $15,659
    GUILD MORTGAGE COMPANY 3 6.63% $9,465
    HOMESIDE FINANCIAL, LLC 3 7.25% $11,998
    LOANPAL, LLC 3 6.54% $12,251
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 3 6.71% $19,325
    MLD MORTGAGE INC. 3 5.75% $9,361
    M&T Bank 3 6.08% $11,650
    North American Savings Bank, F.S.B. 3 6.17% $13,348
    PHH Mortgage Corporation 3 6.66% $10,819
    PINNACLE MORTGAGE, INC. 3 6.58% $6,932
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.92% $9,535
    ROYAL UNITED MORTGAGE LLC 3 6.25% $14,392
    TD Bank 3 6.21% $5,729
    VERITAS FUNDING, LLC 3 7.13% $27,177
    NP, Inc. 2 6.88% $15,835
    GREENWAY MORTGAGE FUNDING CORP. 2 5.75% $12,055
    SUMMIT FUNDING, INC. 2 6.75% $22,078
    Sunflower Bank 2 6.06% $23,642
    BAY EQUITY LLC 2 6.19% $11,797
    Farmers Bank & Trust 2 5.44% $18,889
    EVERETT FINANCIAL, INC. 2 6.88% $10,808
    PNC Bank 2 6.50% $4,727
    OCEANSIDE MORTGAGE COMPANY 2 6.31% $12,402
    OCMBC, INC. 2 7.31% $14,502
    Presidential Bank, FSB 2 6.19% $12,761
    GoPrime Mortgage, Inc. 2 6.88% $7,647
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.00% $8,022
    Princeton Mortgage Corporation 2 6.69% $5,352
    NEW FED MORTGAGE, CORP. 2 6.00% $19,515
    Univest Bank and Trust Co. 2 6.38% $5,744
    AmeriHome Mortgage Company, LLC 2 6.13% $9,929
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.31% $21,275
    GLENDENNING MORTGAGE CORPORATION 2 6.88% $15,057
    RESIDENTIAL BANCORP 2 5.75% $21,739
    HARTFORD FUNDING, LTD. 2 6.63% $16,511
    Mid-Continent Funding, Inc. 2 5.63% $13,949
    Meridian Bank Corporation 2 6.31% $11,065
    RESIDENTIAL HOME MORTGAGE CORPORATION 2 7.06% $12,595
    Wilmington Savings Fund Society, FSB 2 6.88% $12,689
    ACADEMY MORTGAGE CORPORATION 2 6.31% $13,005
    Huntingdon Valley Bank 2 5.88% $6,433
    TOTAL MORTGAGE SERVICES, LLC 1 5.25% $19,730
    AmRes Corporation 1 6.25% $22,614
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 7.13% $14,204
    Ameris Bank 1 6.00% $10,799
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $18,449
    AMERICAN HERITAGE FCU 1 4.99% $19,284
    Valley National Bank 1 6.25% $5,378
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $10,347
    MDE Home Loans, LLC 1 6.75% $23,143
    LIBERTY HOME MORTGAGE CORPORATION 1 7.25% $23,410
    Neighborhood Loans, Inc. 1 6.13% $11,259
    INTERSTATE HOME LOAN CENTER, INC. 1 6.50% $31,573
    Ixonia Bank 1 6.75% $17,639
    HOMESTEAD FUNDING CORP. 1 6.25% $11,174
    HomePromise Corporation 1 7.25% $5,715
    AMERICAN FINANCING CORPORATION 1 5.50% $16,738
    Northwest Federal Credit Union 1 7.50% $4,152
    Paramount Bank 1 7.00% $10,950
    FIRST MORTGAGE COMPANY, INC. 1 5.75% $23,169
    PIKE CREEK MORTGAGE SERVICES, INC. 1 6.88% $10,210
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $11,320
    FBC MORTGAGE, LLC 1 5.75% $5,058
    POLARIS HOME FUNDING CORP. 1 6.75% $21,654
    PREMIA MORTGAGE, LLC 1 5.75% $3,279
    Watermark Capital, Inc. 1 5.75% $8,131
    ENVOY MORTGAGE, LTD 1 5.38% $0
    Encompass Lending Group, LP 1 5.50% $10,850
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.50% $0
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $20,933
    Residential Mortgage Solutions, Inc. 1 7.25% $10,708
    Sierra Pacific Mortgage Company, Inc. 1 6.63% $14,928
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.25% $18,852
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.50% $16,376
    T2 FINANCIAL LLC 1 6.75% $21,321
    TBI MORTGAGE COMPANY 1 6.13% $5,637
    Academy Bank 1 5.50% $6,726
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.99% $14,708
    ARC HOME LLC 1 7.13% $8,270
    The Huntington National Bank 1 6.00% $1,490

    The top New Jersey VA lender as defined by loan originations is Mortgage Research Center, LLC, with 543 VA loans originated. Their average total fees are $9,997, which is $3,481 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee New Jersey VA lenders (with over 10 loans originated) are DRAPER AND KRAMER MORTGAGE CORP. ($7,254), U.S. Bank ($8,448), NAVY FEDERAL CREDIT UNION ($8,857), NBKC BANK ($8,862) and Wells Fargo Bank ($9,172).

    The lowest rate New Jersey VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.50%), PLANET HOME LENDING, LLC (5.56%), AMERISAVE MORTGAGE CORPORATION (5.77%), PENTAGON FEDERAL CREDIT UNION (5.79%) and PENNYMAC LOAN SERVICES, LLC (5.87%).

    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.