New York VA Loan Rates, Closing Costs & Stats

New York

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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 York VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New York averaged 6.59% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    New York's average VA mortgage closing costs are $7,605.

    The average rate for the prior week (2025-03-28) was 6.61% and one month ago for the week of 2025-02-28, the average rate was 6.68%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.52%.

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

    New York 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 York level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 687 6.54% $6,942
    QUICKEN LOANS, LLC 604 6.24% $11,110
    NAVY FEDERAL CREDIT UNION 316 5.96% $7,328
    UNITED WHOLESALE MORTGAGE, LLC 239 6.17% $9,785
    MOVEMENT MORTGAGE, LLC 238 6.55% $9,598
    Premium Mortgage Corporation 190 6.42% $5,457
    USAA Federal Savings Bank 173 6.52% $9,184
    HOMESTEAD FUNDING CORP. 164 6.48% $5,773
    CROSSCOUNTRY MORTGAGE, LLC 144 6.53% $10,570
    Barrington Bank & Trust Company, N.A. 119 6.52% $8,141
    PLANET HOME LENDING, LLC 98 5.86% $6,036
    PLAZA HOME MORTGAGE, INC. 97 6.46% $8,524
    NEWREZ LLC 89 6.39% $10,689
    The Federal Savings Bank 88 6.37% $20,278
    LOANDEPOT.COM, LLC 70 6.16% $12,018
    PRIMELENDING, A PLAINSCAPITAL COMPANY 67 6.65% $7,857
    FREEDOM MORTGAGE CORPORATION 66 6.63% $16,543
    Mr. Cooper ( Nationstar Mortgage ) 63 6.41% $11,021
    CONTOUR MORTGAGE CORPORATION 63 6.49% $15,139
    PENNYMAC LOAN SERVICES, LLC 57 6.00% $10,005
    M&T Bank 56 6.29% $6,975
    1ST PRIORITY MORTGAGE, INC. 47 6.34% $8,528
    Genesee Regional Bank 47 6.68% $9,728
    AMERICAN FINANCIAL NETWORK, INC. 42 6.50% $6,337
    EVERETT FINANCIAL, INC. 41 6.82% $7,289
    RELIANCE FIRST CAPITAL, LLC 40 6.31% $13,518
    GUARANTEED RATE, INC. 38 6.21% $8,096
    NATIONWIDE MORTGAGE BANKERS, INC. 34 6.61% $21,827
    SEFCU SERVICES, LLC 33 5.94% $7,758
    HUNT MORTGAGE CORPORATION 32 6.75% $5,911
    KeyBank 31 6.10% $8,117
    Flagstar Bank, FSB 31 6.66% $11,681
    Carrington Mortgage Services, LLC 29 6.03% $11,529
    JPMorgan Chase Bank 26 6.37% $8,900
    PENTAGON FEDERAL CREDIT UNION 26 6.01% $7,129
    AMERICU Credit Union 26 5.96% $9,003
    CARDINAL FINANCIAL 24 6.45% $16,229
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 22 6.60% $9,218
    Equity Prime Mortgage LLC 21 6.67% $7,828
    NVR Mortgage Finance, Inc. 20 5.85% $7,911
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 6.74% $11,834
    EMBRACE HOME LOANS, INC. 16 6.19% $12,525
    Citizens Bank 15 6.13% $13,647
    UNITED MORTGAGE CORP 15 6.68% $18,229
    ABSOLUTE HOME MORTGAGE CORPORATION 15 7.10% $10,485
    MID-ISLAND MORTGAGE CORP. 13 6.13% $8,731
    CMG MORTGAGE, INC. 13 6.01% $11,023
    NBKC BANK 12 5.94% $10,199
    Northwest Bank 12 6.15% $5,919
    Wells Fargo Bank 11 6.14% $5,465
    Community Bank 11 6.40% $5,349
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 11 6.68% $11,215
    EMM LOANS LLC 10 6.40% $12,821
    SUN WEST MORTGAGE COMPANY, INC. 9 5.90% $15,940
    BROKER SOLUTIONS, INC. 9 6.65% $11,650
    CLIFFCO, INC. 9 6.46% $19,537
    ROYAL UNITED MORTGAGE LLC 9 6.67% $17,090
    Evolve Bank & Trust 8 6.06% $8,450
    HOME TOWN FUNDING, INC. 8 6.89% $7,283
    HARTFORD FUNDING, LTD. 8 6.48% $25,169
    East Coast Capital Corp. 8 6.58% $21,272
    Armed Forces Bank 8 6.30% $7,948
    First Federal Bank 7 6.14% $7,043
    U.S. Bank 7 6.05% $7,795
    NORTHERN CREDIT UNION 6 5.81% $10,629
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.54% $10,287
    NJ LENDERS CORP. 6 6.54% $8,520
    JET DIRECT FUNDING CORP 5 6.45% $14,057
    Five Star Bank 5 6.20% $6,582
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 5 6.38% $28,176
    US MORTGAGE CORPORATION 5 6.70% $11,225
    SUNMARK FEDERAL CREDIT UNION 5 6.38% $9,369
    PHH Mortgage Corporation 4 6.50% $10,568
    ALLIED MORTGAGE GROUP, INC. 4 6.19% $4,619
    GUARANTEED RATE AFFINITY, LLC 4 6.43% $6,553
    TOTAL MORTGAGE SERVICES, LLC 4 6.44% $16,447
    Magnolia Bank 4 5.94% $18,153
    Ixonia Bank 3 7.04% $10,424
    NORWICH COMMERCIAL GROUP, INC. 3 6.00% $11,394
    PARAGON HOME LOANS INC. 3 6.54% $9,926
    PREMIA MORTGAGE, LLC 3 5.96% $7,999
    AMERICAN FINANCING CORPORATION 3 6.00% $8,916
    Valley National Bank 3 6.37% $12,707
    CONTINENTAL MORTGAGE BANKERS, INC. 2 6.25% $14,810
    Bank of America 2 5.50% $8,846
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 5.50% $8,143
    ALLIANT CREDIT UNION 2 5.81% $6,472
    Plains Commerce Bank 2 6.13% $12,541
    ESL Federal Credit Union 2 6.25% $5,022
    Bank of England 1 6.25% $10,941
    OceanFirst Bank 1 6.25% $6,470
    Farmers Bank & Trust 1 7.00% $12,418
    ASSOCIATED MORTGAGE BANKERS, INC. 1 6.63% $21,012
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $9,434
    SIRVA MORTGAGE, INC. 1 6.63% $20
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $2,803
    MLD MORTGAGE INC. 1 6.13% $5,948
    Texana Bank 1 7.63% $15,323
    First National Bank Texas 1 6.75% $5,375
    The Huntington National Bank 1 6.75% $13,337
    Nations Lending Corporation 1 5.88% $7,094
    Truist 1 6.50% $11,134
    INTERSTATE HOME LOAN CENTER, INC. 1 6.63% $25,124
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.13% $5,620
    MORTGAGE ACCESS CORP. 1 6.13% $13,284
    PNC Bank 1 6.00% $20,029
    MLB RESIDENTIAL LENDING, LLC 1 6.63% $12,919
    NP, Inc. 1 5.75% $8,096
    Berkshire Bank 1 5.50% $4,223
    Prosperity Home Mortgage, LLC 1 5.75% $3,613

    The top New York VA lender as defined by loan originations is Mortgage Research Center, LLC, with 687 VA loans originated. Their average total fees are $6,942, which is $4,168 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee New York VA lenders (with over 10 loans originated) are Community Bank ($5,349), Premium Mortgage Corporation ($5,457), Wells Fargo Bank ($5,465), HOMESTEAD FUNDING CORP. ($5,773) and HUNT MORTGAGE CORPORATION ($5,911).

    The lowest rate New York VA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.85%), PLANET HOME LENDING, LLC (5.86%), NBKC BANK (5.94%), SEFCU SERVICES, LLC (5.94%) and AMERICU Credit Union (5.96%).

    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.