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 6 lenders originated 7 USDA loans during 2021. The total origination value was $935,000, with an average USDA loan value of $133,571.

Elmira USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Elmira averaged 6.62% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Elmira's average USDA mortgage closing costs are $4,608.

The average rate for the prior week (2022-11-25) was 6.35% and one month ago for the week of 2022-10-28, the average rate was 6.62%.

The average rate one year ago was 3.52%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.35%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Elmira Savings Bank 2 2.88% $5,202
AMERICAN FINANCIAL NETWORK, INC. 1 3.13% $7,999
Bank of England 1 2.63% $8,305
MOVEMENT MORTGAGE, LLC 1 3.25% $4,197
PARAGON HOME LOANS INC. 1 3.00% $6,793
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.00% $4,730

The top Elmira USDA lender as defined by loan originations is Elmira Savings Bank, with 2 USDA loans originated. Their average total fees are $5,202, which is $2,797 lower than the next largest lender, AMERICAN FINANCIAL NETWORK, INC..

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%) $144,436 (-4.1%) 0.00 302
2018-04-01 $92,450 (-25.9%) $147,569 (-6.3%) 0.00 304
2018-05-01 $102,425 (-19.2%) $154,850 (-4.4%) 0.00 337
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 (2.0%) 0.00 274
2019-04-01 $119,900 (29.7%) $161,919 (9.7%) 0.00 256
2019-05-01 $115,450 (12.7%) $174,418 (12.6%) 0.00 265
2019-06-01 $118,500 (7.7%) $166,162 (3.8%) 0.00 277
2019-07-01 $127,400 (15.9%) $172,803 (10.4%) 0.00 280
2019-08-01 $132,209 (20.3%) $171,684 (6.5%) 0.00 298
2019-09-01 $128,098 (16.6%) $165,459 (3.8%) 0.00 308
2019-10-01 $122,400 (11.4%) $158,843 (-0.5%) 0.00 319
2019-11-01 $109,450 (5.5%) $153,064 (0.4%) 0.00 295
2019-12-01 $107,175 (7.5%) $153,384 (7.1%) 0.00 271
2020-01-01 $109,000 (13.0%) $150,209 (9.5%) 0.00 253
2020-02-01 $115,000 (15.1%) $153,528 (9.5%) 0.00 259
2020-03-01 $108,000 (-1.4%) $152,455 (3.5%) 0.00 259
2020-04-01 $122,400 (2.1%) $160,553 (-0.8%) 0.00 246
2020-05-01 $124,900 (8.2%) $166,811 (-4.4%) 0.00 233
2020-06-01 $139,950 (18.1%) $183,678 (10.5%) 0.00 243
2020-07-01 $146,600 (15.1%) $193,356 (11.9%) 0.00 212
2020-08-01 $147,500 (11.6%) $196,436 (14.4%) 0.00 185
2020-09-01 $139,900 (9.2%) $193,729 (17.1%) 0.00 170
2020-10-01 $132,000 (7.8%) $190,089 (19.7%) 0.00 173
2020-11-01 $133,725 (22.2%) $191,977 (25.4%) 0.00 167
2020-12-01 $129,900 (21.2%) $182,468 (19.0%) 0.00 173
2021-01-01 $129,900 (19.2%) $181,410 (20.8%) 0.00 164
2021-02-01 $131,200 (14.1%) $195,597 (27.4%) 0.00 134
2021-03-01 $139,000 (28.7%) $196,574 (28.9%) 0.00 129
2021-04-01 $148,650 (21.5%) $206,665 (28.7%) 0.00 116
2021-05-01 $157,500 (26.1%) $228,499 (37.0%) 0.00 134
2021-06-01 $169,925 (21.4%) $232,065 (26.3%) 0.00 151
2021-07-01 $165,000 (12.6%) $210,817 (9.0%) 0.00 159
2021-08-01 $159,225 (8.0%) $192,990 (-1.8%) 0.00 181
2021-09-01 $151,950 (8.6%) $190,219 (-1.8%) 0.00 164
2021-10-01 $149,900 (13.6%) $190,965 (0.5%) 0.00 150
2021-11-01 $140,825 (5.3%) $182,561 (-4.9%) 0.00 147
2021-12-01 $124,950 (-3.8%) $174,587 (-4.3%) 0.00 142
2022-01-01 $124,450 (-4.2%) $180,971 (-0.2%) 0.00 119
2022-02-01 $117,175 (-10.7%) $181,645 (-7.1%) 0.00 106
2022-03-01 $99,700 (-28.3%) $167,475 (-14.8%) 0.00 116
2022-04-01 $102,200 (-31.3%) $176,023 (-14.8%) 0.00 116
2022-05-01 $122,450 (-22.3%) $194,472 (-14.9%) 0.00 131
2022-06-01 $133,700 (-21.3%) $203,716 (-12.2%) 0.00 138
2022-07-01 $134,950 (-18.2%) $212,213 (0.7%) 0.00 153
2022-08-01 $133,500 (-16.2%) $207,252 (7.4%) 0.00 149
2022-09-01 $146,000 (-3.9%) $211,096 (11.0%) 0.00 162
2022-10-01 $150,000 (0.1%) $210,838 (10.4%) 0.00 163
2022-11-01 $167,925 (19.2%) $222,052 (21.6%) 0.00 173
Elmira's median listing price for 2022-11-01 was $167,925, a difference of $27,100 (19.2%) versus the prior year and $17,925 versus the prior month.

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

Elmira's average listing price for 2022-11-01 was $222,052, a difference of $39,491 (21.6%) versus the prior year and $11,214 versus the prior month.

For the 2022-11-01 period, Elmira had 173 MLS listings, a difference of 10 listings (6%) versus the prior month and 26 listings (18%) 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 1,631 sqft
2018-02-01 0 days 1,617 sqft
2018-03-01 0 days 1,594 sqft
2018-04-01 0 days 1,577 sqft
2018-05-01 0 days 1,588 sqft
2018-06-01 0 days 1,635 sqft
2018-07-01 0 days 1,659 sqft
2018-08-01 0 days 1,665 sqft
2018-09-01 0 days 1,638 sqft
2018-10-01 0 days 1,689 sqft
2018-11-01 0 days 1,677 sqft
2018-12-01 0 days 1,635 sqft
2019-01-01 0 days 1,622 sqft
2019-02-01 0 days 1,619 sqft
2019-03-01 0 days 1,636 sqft
2019-04-01 0 days 1,683 sqft
2019-05-01 0 days 1,713 sqft
2019-06-01 0 days 1,805 sqft
2019-07-01 0 days 1,859 sqft
2019-08-01 0 days 1,812 sqft
2019-09-01 0 days 1,787 sqft
2019-10-01 0 days 1,755 sqft
2019-11-01 0 days 1,684 sqft
2019-12-01 0 days 1,745 sqft
2020-01-01 0 days 1,647 sqft
2020-02-01 0 days 1,722 sqft
2020-03-01 0 days 1,739 sqft
2020-04-01 0 days 1,728 sqft
2020-05-01 0 days 1,728 sqft
2020-06-01 0 days 1,803 sqft
2020-07-01 0 days 1,860 sqft
2020-08-01 0 days 1,915 sqft
2020-09-01 0 days 1,881 sqft
2020-10-01 0 days 1,862 sqft
2020-11-01 0 days 1,824 sqft
2020-12-01 0 days 1,827 sqft
2021-01-01 0 days 1,739 sqft
2021-02-01 0 days 1,721 sqft
2021-03-01 0 days 1,745 sqft
2021-04-01 0 days 1,830 sqft
2021-05-01 0 days 1,867 sqft
2021-06-01 0 days 1,898 sqft
2021-07-01 0 days 1,840 sqft
2021-08-01 0 days 1,760 sqft
2021-09-01 0 days 1,806 sqft
2021-10-01 0 days 1,760 sqft
2021-11-01 0 days 1,711 sqft
2021-12-01 0 days 1,613 sqft
2022-01-01 0 days 1,597 sqft
2022-02-01 0 days 1,611 sqft
2022-03-01 0 days 1,599 sqft
2022-04-01 0 days 1,639 sqft
2022-05-01 0 days 1,702 sqft
2022-06-01 0 days 1,764 sqft
2022-07-01 0 days 1,706 sqft
2022-08-01 0 days 1,696 sqft
2022-09-01 0 days 1,682 sqft
2022-10-01 0 days 1,752 sqft
2022-11-01 0 days 1,710 sqft
Elmira's median listing age (time on market) for 2022-11-01 was 0 days.

Elmira's median square footage for active listings during the 2022-11-01 period was 1,710 sqft. One year prior, the average listing was 1,711 sqft.