Elmira USDA Loan Rates, Closing Costs & Stats

ELMIRA, NY

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Elmira's 5 lenders originated 10 USDA loans during 2023. The total origination value was $1,290,000, with an average USDA loan value of $129,000.

Elmira USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Elmira averaged 6.5% for the week of 2024-03-22, compared to the national average (all USDA variants) of 6.674% for the same period.

Elmira's average USDA mortgage closing costs are $4,963.

The average rate for the prior week (2024-03-15) was 6.72% and one month ago for the week of 2024-02-16, the average rate was 6.4%.

The average rate one year ago was 6.2%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.57%.

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

Elmira USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Elmira level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PARAGON HOME LOANS INC. 4 6.94% $5,899
MOVEMENT MORTGAGE, LLC 3 6.75% $6,166
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $6,743
PLAZA HOME MORTGAGE, INC. 1 6.13% $9,295
UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $6,859

The top Elmira USDA lender as defined by loan originations is PARAGON HOME LOANS INC., with 4 USDA loans originated. Their average total fees are $5,899, which is $267 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Elmira USDA lenders (with over 10 loans originated) are .

The lowest rate Elmira USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Elmira (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $99,900 (-10.6%) $145,904 (1.9%) 0.00 314
2018-02-01 $97,175 (-16.3%) $144,018 (-1.6%) 0.00 311
2018-03-01 $89,900 (-24.4%) $144,621 (-4.0%) 0.00 302
2018-04-01 $92,450 (-25.9%) $147,569 (-6.3%) 0.00 304
2018-05-01 $102,475 (-19.1%) $155,190 (-4.2%) 0.00 336
2018-06-01 $110,000 (-14.7%) $160,012 (-2.2%) 0.00 386
2018-07-01 $109,900 (-12.1%) $156,527 (-5.7%) 0.00 386
2018-08-01 $109,925 (-8.4%) $161,158 (-0.5%) 0.00 377
2018-09-01 $109,900 (-6.8%) $159,345 (0.6%) 0.00 362
2018-10-01 $109,900 (-7.6%) $159,556 (0.0%) 0.00 339
2018-11-01 $103,700 (-9.0%) $152,491 (-1.4%) 0.00 326
2018-12-01 $99,700 (-0.2%) $143,275 (-1.2%) 0.00 306
2019-01-01 $96,475 (-3.4%) $137,186 (-6.0%) 0.00 290
2019-02-01 $99,950 (2.9%) $140,243 (-2.6%) 0.00 284
2019-03-01 $109,500 (21.8%) $147,351 (1.9%) 0.00 274
2019-04-01 $119,900 (29.7%) $161,914 (9.7%) 0.00 256
2019-05-01 $115,450 (12.7%) $174,418 (12.4%) 0.00 265
2019-06-01 $118,500 (7.7%) $166,162 (3.8%) 0.00 276
2019-07-01 $127,400 (15.9%) $172,814 (10.4%) 0.00 279
2019-08-01 $131,845 (19.9%) $171,691 (6.5%) 0.00 297
2019-09-01 $127,264 (15.8%) $165,446 (3.8%) 0.00 307
2019-10-01 $121,800 (10.8%) $158,808 (-0.5%) 0.00 318
2019-11-01 $109,000 (5.1%) $153,013 (0.3%) 0.00 294
2019-12-01 $105,725 (6.0%) $153,324 (7.0%) 0.00 270
2020-01-01 $109,000 (13.0%) $150,133 (9.4%) 0.00 252
2020-02-01 $115,000 (15.1%) $153,465 (9.4%) 0.00 258
2020-03-01 $106,000 (-3.2%) $152,391 (3.4%) 0.00 258
2020-04-01 $121,900 (1.7%) $160,515 (-0.9%) 0.00 245
2020-05-01 $124,900 (8.2%) $166,798 (-4.4%) 0.00 232
2020-06-01 $139,950 (18.1%) $183,734 (10.6%) 0.00 242
2020-07-01 $146,500 (15.0%) $193,462 (12.0%) 0.00 211
2020-08-01 $146,250 (10.9%) $196,578 (14.5%) 0.00 184
2020-09-01 $139,900 (9.9%) $193,867 (17.2%) 0.00 169
2020-10-01 $131,000 (7.6%) $190,204 (19.8%) 0.00 172
2020-11-01 $132,000 (21.1%) $192,106 (25.6%) 0.00 166
2020-12-01 $129,900 (22.9%) $182,540 (19.1%) 0.00 172
2021-01-01 $129,900 (19.2%) $181,476 (20.9%) 0.00 163
2021-02-01 $130,550 (13.5%) $195,776 (27.6%) 0.00 133
2021-03-01 $137,975 (30.2%) $196,777 (29.1%) 0.00 128
2021-04-01 $146,175 (19.9%) $206,975 (28.9%) 0.00 115
2021-05-01 $154,000 (23.3%) $228,911 (37.2%) 0.00 133
2021-06-01 $169,950 (21.4%) $232,472 (26.5%) 0.00 150
2021-07-01 $165,000 (12.6%) $211,066 (9.1%) 0.00 158
2021-08-01 $158,725 (8.5%) $191,418 (-2.6%) 0.00 180
2021-09-01 $149,900 (7.2%) $189,238 (-2.4%) 0.00 163
2021-10-01 $148,950 (13.7%) $190,689 (0.3%) 0.00 148
2021-11-01 $139,450 (5.6%) $182,643 (-4.9%) 0.00 146
2021-12-01 $124,825 (-3.9%) $173,708 (-4.8%) 0.00 141
2022-01-01 $122,000 (-6.1%) $178,456 (-1.7%) 0.00 116
2022-02-01 $115,950 (-11.2%) $178,714 (-8.7%) 0.00 104
2022-03-01 $96,975 (-29.7%) $164,518 (-16.4%) 0.00 114
2022-04-01 $99,900 (-31.7%) $176,075 (-14.9%) 0.00 115
2022-05-01 $121,200 (-21.3%) $194,653 (-15.0%) 0.00 130
2022-06-01 $131,250 (-22.8%) $203,955 (-12.3%) 0.00 137
2022-07-01 $134,900 (-18.2%) $212,471 (0.7%) 0.00 152
2022-08-01 $132,975 (-16.2%) $207,495 (8.4%) 0.00 148
2022-09-01 $143,725 (-4.1%) $211,342 (11.7%) 0.00 161
2022-10-01 $149,950 (0.7%) $211,089 (10.7%) 0.00 162
2022-11-01 $167,975 (20.5%) $222,340 (21.7%) 0.00 172
2022-12-01 $175,000 (40.2%) $232,049 (33.6%) 0.00 143
2023-01-01 $166,600 (36.6%) $211,885 (18.7%) 0.00 119
2023-02-01 $154,675 (33.4%) $199,728 (11.8%) 0.00 104
2023-03-01 $149,600 (54.3%) $204,856 (24.5%) 0.00 99
2023-04-01 $159,900 (60.1%) $228,102 (29.6%) 0.00 102
2023-05-01 $149,950 (23.7%) $226,895 (16.6%) 0.00 114
2023-06-01 $155,000 (18.1%) $232,338 (13.9%) 0.00 103
2023-07-01 $168,500 (24.9%) $236,443 (11.3%) 0.00 112
2023-08-01 $152,950 (15.0%) $220,264 (6.2%) 0.00 133
2023-09-01 $164,900 (14.7%) $236,035 (11.7%) 0.00 136
2023-10-01 $169,675 (13.2%) $240,584 (14.0%) 0.00 143
2023-11-01 $152,750 (-9.1%) $226,138 (1.7%) 0.00 144
2023-12-01 $152,450 (-12.9%) $226,011 (-2.6%) 0.00 132
2024-01-01 $146,400 (-12.1%) $215,515 (1.7%) 0.00 120
2024-02-01 $147,675 (-4.5%) $217,307 (8.8%) 0.00 112
Elmira's median listing price for 2024-02-01 was $147,675, a difference of $-7,000 (-4.5%) versus the prior year and $1,275 versus the prior month.

Elmira's median listing price comes in at 0% of the national average.

Elmira's average listing price for 2024-02-01 was $217,307, a difference of $17,579 (8.8%) versus the prior year and $1,792 versus the prior month.

For the 2024-02-01 period, Elmira had 112 MLS listings, a difference of -8 listings (-7%) versus the prior month and 8 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Elmira (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,632 sqft
2018-02-01 0 days 1,618 sqft
2018-03-01 0 days 1,600 sqft
2018-04-01 0 days 1,578 sqft
2018-05-01 0 days 1,589 sqft
2018-06-01 0 days 1,636 sqft
2018-07-01 0 days 1,660 sqft
2018-08-01 0 days 1,670 sqft
2018-09-01 0 days 1,643 sqft
2018-10-01 0 days 1,690 sqft
2018-11-01 0 days 1,680 sqft
2018-12-01 0 days 1,637 sqft
2019-01-01 0 days 1,625 sqft
2019-02-01 0 days 1,621 sqft
2019-03-01 0 days 1,639 sqft
2019-04-01 0 days 1,687 sqft
2019-05-01 0 days 1,715 sqft
2019-06-01 0 days 1,810 sqft
2019-07-01 0 days 1,854 sqft
2019-08-01 0 days 1,809 sqft
2019-09-01 0 days 1,785 sqft
2019-10-01 0 days 1,754 sqft
2019-11-01 0 days 1,680 sqft
2019-12-01 0 days 1,740 sqft
2020-01-01 0 days 1,645 sqft
2020-02-01 0 days 1,721 sqft
2020-03-01 0 days 1,735 sqft
2020-04-01 0 days 1,724 sqft
2020-05-01 0 days 1,720 sqft
2020-06-01 0 days 1,797 sqft
2020-07-01 0 days 1,859 sqft
2020-08-01 0 days 1,910 sqft
2020-09-01 0 days 1,880 sqft
2020-10-01 0 days 1,861 sqft
2020-11-01 0 days 1,813 sqft
2020-12-01 0 days 1,821 sqft
2021-01-01 0 days 1,734 sqft
2021-02-01 0 days 1,716 sqft
2021-03-01 0 days 1,739 sqft
2021-04-01 0 days 1,810 sqft
2021-05-01 0 days 1,862 sqft
2021-06-01 0 days 1,896 sqft
2021-07-01 0 days 1,836 sqft
2021-08-01 0 days 1,760 sqft
2021-09-01 0 days 1,804 sqft
2021-10-01 0 days 1,757 sqft
2021-11-01 0 days 1,705 sqft
2021-12-01 0 days 1,610 sqft
2022-01-01 0 days 1,583 sqft
2022-02-01 0 days 1,603 sqft
2022-03-01 0 days 1,591 sqft
2022-04-01 0 days 1,631 sqft
2022-05-01 0 days 1,698 sqft
2022-06-01 0 days 1,760 sqft
2022-07-01 0 days 1,703 sqft
2022-08-01 0 days 1,693 sqft
2022-09-01 0 days 1,680 sqft
2022-10-01 0 days 1,724 sqft
2022-11-01 0 days 1,703 sqft
2022-12-01 0 days 1,732 sqft
2023-01-01 0 days 1,693 sqft
2023-02-01 0 days 1,593 sqft
2023-03-01 0 days 1,650 sqft
2023-04-01 0 days 1,715 sqft
2023-05-01 0 days 1,590 sqft
2023-06-01 0 days 1,736 sqft
2023-07-01 0 days 1,815 sqft
2023-08-01 0 days 1,792 sqft
2023-09-01 0 days 1,820 sqft
2023-10-01 0 days 1,804 sqft
2023-11-01 0 days 1,762 sqft
2023-12-01 0 days 1,760 sqft
2024-01-01 0 days 1,697 sqft
2024-02-01 0 days 1,655 sqft
Elmira's median listing age (time on market) for 2024-02-01 was 0 days.

Elmira's median square footage for active listings during the 2024-02-01 period was 1,655 sqft. One year prior, the average listing was 1,593 sqft.