Corning VA Loan Rates, Closing Costs & Stats

Corning, NY

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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.

    Corning's 27 lenders originated 115 VA loans during 2021. The total origination value was $21,495,000, with an average VA loan value of $186,913.

    Corning VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Corning averaged 6.74% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

    Corning's average VA mortgage closing costs are $3,888.

    The average rate for the prior week (2022-11-25) was 6.57% and one month ago for the week of 2022-10-28, the average rate was 6.86%.

    The average rate one year ago was 3.64%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.7%.

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

    Corning 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 Corning level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 16 2.67% $3,276
    Mortgage Research Center, LLC 15 2.85% $5,392
    PARAGON HOME LOANS INC. 9 2.99% $5,938
    USAA Federal Savings Bank 8 2.91% $3,470
    FREEDOM MORTGAGE CORPORATION 7 2.66% $3,083
    Premium Mortgage Corporation 6 3.10% $5,383
    NAVY FEDERAL CREDIT UNION 5 2.45% $2,683
    Mr. Cooper ( Nationstar Mortgage ) 4 3.06% $1,004
    Wells Fargo Bank 4 2.34% $3,989
    AMERICAN FINANCIAL NETWORK, INC. 3 2.63% $529
    Barrington Bank & Trust Company, N.A. 3 2.79% $3,606
    Elmira Savings Bank 3 2.92% $4,590
    LOANDEPOT.COM, LLC 3 2.46% $5,073
    MOVEMENT MORTGAGE, LLC 2 3.25% $1,632
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.56% $11,857
    PLAZA HOME MORTGAGE, INC. 2 3.50% $2,945
    Carrington Mortgage Services, LLC 2 3.25% $4,459
    CALIBER HOME LOANS, INC. 2 2.50% $2,573
    AMERICAN FINANCING CORPORATION 2 2.50% $4,310
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $11,851
    PREMIA MORTGAGE, LLC 1 2.25% $0
    Flagstar Bank, FSB 1 3.31% $5,628
    HUNT MORTGAGE CORPORATION 1 2.63% $6,805
    HOME TOWN FUNDING, INC. 1 3.25% $2,117
    North American Savings Bank, F.S.B. 1 3.75% $420
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $3,699
    Paramount Bank 1 2.50% $17,763

    The top Corning VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 16 VA loans originated. Their average total fees are $3,276, which is $2,116 lower than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Corning VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($3,276), Mortgage Research Center, LLC ($5,392), .

    The lowest rate Corning VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.67%), Mortgage Research Center, LLC (2.85%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Corning (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 $130,950 (5.1%) $195,193 (2.7%) 0.00 390
    2018-02-01 $138,450 (13.2%) $195,337 (3.4%) 0.00 382
    2018-03-01 $139,000 (7.4%) $197,702 (1.4%) 0.00 367
    2018-04-01 $129,900 (0.7%) $196,943 (-0.2%) 0.00 366
    2018-05-01 $129,575 (-4.0%) $198,038 (-12.6%) 0.00 398
    2018-06-01 $129,900 (-7.2%) $199,104 (-12.3%) 0.00 420
    2018-07-01 $138,450 (-1.0%) $199,633 (-11.0%) 0.00 450
    2018-08-01 $134,450 (-5.6%) $197,085 (-11.2%) 0.00 466
    2018-09-01 $133,400 (-1.1%) $198,011 (-11.3%) 0.00 462
    2018-10-01 $130,075 (-5.4%) $196,526 (-13.5%) 0.00 455
    2018-11-01 $134,900 (-7.0%) $199,527 (-11.5%) 0.00 435
    2018-12-01 $129,300 (-7.3%) $199,188 (-0.6%) 0.00 379
    2019-01-01 $129,100 (-1.4%) $188,873 (-3.2%) 0.00 343
    2019-02-01 $129,750 (-6.3%) $191,422 (-2.0%) 0.00 336
    2019-03-01 $138,386 (-0.4%) $207,107 (4.8%) 0.00 321
    2019-04-01 $148,286 (14.2%) $224,224 (13.9%) 0.00 303
    2019-05-01 $141,675 (9.3%) $218,902 (10.5%) 0.00 332
    2019-06-01 $150,000 (15.5%) $220,351 (10.7%) 0.00 341
    2019-07-01 $149,650 (8.1%) $210,653 (5.5%) 0.00 371
    2019-08-01 $142,173 (5.7%) $209,551 (6.3%) 0.00 371
    2019-09-01 $138,082 (3.5%) $208,941 (5.5%) 0.00 369
    2019-10-01 $135,355 (4.1%) $208,290 (6.0%) 0.00 362
    2019-11-01 $139,900 (3.7%) $217,629 (9.1%) 0.00 325
    2019-12-01 $139,900 (8.2%) $218,866 (9.9%) 0.00 329
    2020-01-01 $135,900 (5.3%) $213,731 (13.2%) 0.00 309
    2020-02-01 $135,900 (4.7%) $217,529 (13.6%) 0.00 279
    2020-03-01 $137,225 (-0.8%) $217,556 (5.1%) 0.00 263
    2020-04-01 $146,725 (-1.1%) $233,580 (4.2%) 0.00 245
    2020-05-01 $149,900 (5.8%) $244,239 (11.6%) 0.00 237
    2020-06-01 $153,975 (2.7%) $234,971 (6.6%) 0.00 252
    2020-07-01 $167,700 (12.1%) $238,356 (13.2%) 0.00 249
    2020-08-01 $164,900 (16.0%) $233,561 (11.5%) 0.00 249
    2020-09-01 $179,450 (30.0%) $247,553 (18.5%) 0.00 244
    2020-10-01 $174,900 (29.2%) $240,447 (15.4%) 0.00 226
    2020-11-01 $179,575 (28.4%) $256,571 (17.9%) 0.00 218
    2020-12-01 $177,175 (26.6%) $262,800 (20.1%) 0.00 196
    2021-01-01 $173,950 (28.0%) $264,578 (23.8%) 0.00 187
    2021-02-01 $185,000 (36.1%) $284,925 (31.0%) 0.00 160
    2021-03-01 $194,900 (42.0%) $292,731 (34.6%) 0.00 151
    2021-04-01 $174,950 (19.2%) $293,517 (25.7%) 0.00 129
    2021-05-01 $199,700 (33.2%) $291,852 (19.5%) 0.00 117
    2021-06-01 $182,400 (18.5%) $308,372 (31.2%) 0.00 127
    2021-07-01 $175,000 (4.4%) $294,485 (23.6%) 0.00 145
    2021-08-01 $178,700 (8.4%) $267,803 (14.7%) 0.00 157
    2021-09-01 $183,750 (2.4%) $270,173 (9.1%) 0.00 167
    2021-10-01 $179,000 (2.3%) $249,850 (3.9%) 0.00 175
    2021-11-01 $174,950 (-2.6%) $241,831 (-5.7%) 0.00 170
    2021-12-01 $166,975 (-5.8%) $238,419 (-9.3%) 0.00 154
    2022-01-01 $169,900 (-2.3%) $247,501 (-6.5%) 0.00 141
    2022-02-01 $159,900 (-13.6%) $241,062 (-15.4%) 0.00 129
    2022-03-01 $159,900 (-18.0%) $244,782 (-16.4%) 0.00 111
    2022-04-01 $169,900 (-2.9%) $250,522 (-14.7%) 0.00 103
    2022-05-01 $174,975 (-12.4%) $258,116 (-11.6%) 0.00 116
    2022-06-01 $188,725 (3.5%) $274,029 (-11.1%) 0.00 149
    2022-07-01 $196,950 (12.5%) $284,020 (-3.6%) 0.00 167
    2022-08-01 $199,000 (11.4%) $285,302 (6.5%) 0.00 183
    2022-09-01 $207,450 (12.9%) $316,134 (17.0%) 0.00 177
    2022-10-01 $189,000 (5.6%) $308,091 (23.3%) 0.00 179
    2022-11-01 $189,000 (8.0%) $314,309 (30.0%) 0.00 167
    Corning's median listing price for 2022-11-01 was $189,000, a difference of $14,050 (8.0%) versus the prior year and $0 versus the prior month.

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

    Corning's average listing price for 2022-11-01 was $314,309, a difference of $72,478 (30.0%) versus the prior year and $6,218 versus the prior month.

    For the 2022-11-01 period, Corning had 167 MLS listings, a difference of -12 listings (-7%) versus the prior month and -3 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Corning (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,724 sqft
    2018-02-01 0 days 1,755 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,791 sqft
    2018-05-01 0 days 1,678 sqft
    2018-06-01 0 days 1,680 sqft
    2018-07-01 0 days 1,766 sqft
    2018-08-01 0 days 1,739 sqft
    2018-09-01 0 days 1,712 sqft
    2018-10-01 0 days 1,670 sqft
    2018-11-01 0 days 1,734 sqft
    2018-12-01 0 days 1,704 sqft
    2019-01-01 0 days 1,756 sqft
    2019-02-01 0 days 1,750 sqft
    2019-03-01 0 days 1,802 sqft
    2019-04-01 0 days 1,837 sqft
    2019-05-01 0 days 1,752 sqft
    2019-06-01 0 days 1,804 sqft
    2019-07-01 0 days 1,810 sqft
    2019-08-01 0 days 1,824 sqft
    2019-09-01 0 days 1,806 sqft
    2019-10-01 0 days 1,794 sqft
    2019-11-01 0 days 1,784 sqft
    2019-12-01 0 days 1,782 sqft
    2020-01-01 0 days 1,728 sqft
    2020-02-01 0 days 1,770 sqft
    2020-03-01 0 days 1,811 sqft
    2020-04-01 0 days 1,886 sqft
    2020-05-01 0 days 1,886 sqft
    2020-06-01 0 days 1,858 sqft
    2020-07-01 0 days 1,877 sqft
    2020-08-01 0 days 1,898 sqft
    2020-09-01 0 days 1,961 sqft
    2020-10-01 0 days 1,914 sqft
    2020-11-01 0 days 1,988 sqft
    2020-12-01 0 days 1,992 sqft
    2021-01-01 0 days 1,914 sqft
    2021-02-01 0 days 1,976 sqft
    2021-03-01 0 days 2,016 sqft
    2021-04-01 0 days 2,042 sqft
    2021-05-01 0 days 1,992 sqft
    2021-06-01 0 days 1,882 sqft
    2021-07-01 0 days 1,790 sqft
    2021-08-01 0 days 1,754 sqft
    2021-09-01 0 days 1,782 sqft
    2021-10-01 0 days 1,794 sqft
    2021-11-01 0 days 1,814 sqft
    2021-12-01 0 days 1,816 sqft
    2022-01-01 0 days 1,744 sqft
    2022-02-01 0 days 1,766 sqft
    2022-03-01 0 days 1,736 sqft
    2022-04-01 0 days 1,793 sqft
    2022-05-01 0 days 1,903 sqft
    2022-06-01 0 days 1,967 sqft
    2022-07-01 0 days 1,976 sqft
    2022-08-01 0 days 1,882 sqft
    2022-09-01 0 days 1,885 sqft
    2022-10-01 0 days 1,858 sqft
    2022-11-01 0 days 1,923 sqft
    Corning's median listing age (time on market) for 2022-11-01 was 0 days.

    Corning's median square footage for active listings during the 2022-11-01 period was 1,923 sqft. One year prior, the average listing was 1,814 sqft.

    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.