Corning VA Loan Rates, Closing Costs & Stats

Corning, NY

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.