Cortland VA Loan Rates, Closing Costs & Stats

Cortland, 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.

    Cortland's 11 lenders originated 17 VA loans during 2023. The total origination value was $3,735,000, with an average VA loan value of $219,706.

    Cortland VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Cortland averaged 0.06% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Cortland's average VA mortgage closing costs are $4,599.

    The average rate for the prior week (2024-11-08) was 6.16% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

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

    Cortland 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 Cortland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 5 6.95% $6,253
    MOVEMENT MORTGAGE, LLC 2 7.00% $9,838
    CFCU Community Credit Union 1 6.38% $8,847
    M&T Bank 1 6.63% $4,723
    NAVY FEDERAL CREDIT UNION 1 5.38% $4,759
    NBKC BANK 1 7.13% $3,384
    PARAGON HOME LOANS INC. 1 7.50% $7,173
    QUICKEN LOANS, LLC 1 5.63% $9,859
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $2,091
    USAA Federal Savings Bank 1 5.88% $10,778
    Barrington Bank & Trust Company, N.A. 1 7.25% $5,647

    The top Cortland VA lender as defined by loan originations is Mortgage Research Center, LLC, with 5 VA loans originated. Their average total fees are $6,253, which is $3,585 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Cortland VA lenders (with over 10 loans originated) are .

    The lowest rate Cortland VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cortland (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 $120,825 (-6.3%) $144,858 (-9.7%) 0.00 186
    2018-02-01 $119,900 (-4.1%) $143,806 (-8.7%) 0.00 183
    2018-03-01 $119,450 (-7.7%) $144,479 (-8.2%) 0.00 167
    2018-04-01 $118,125 (-9.1%) $144,116 (-14.5%) 0.00 181
    2018-05-01 $124,925 (-3.5%) $145,157 (-13.1%) 0.00 172
    2018-06-01 $126,750 (-10.9%) $154,132 (-11.2%) 0.00 185
    2018-07-01 $129,925 (-7.1%) $152,929 (-10.3%) 0.00 217
    2018-08-01 $127,300 (-5.7%) $149,587 (-10.1%) 0.00 209
    2018-09-01 $124,150 (-8.0%) $145,108 (-10.5%) 0.00 213
    2018-10-01 $120,000 (-4.7%) $146,143 (-6.3%) 0.00 213
    2018-11-01 $115,000 (-5.7%) $142,234 (-8.2%) 0.00 197
    2018-12-01 $109,500 (-8.7%) $135,389 (-12.0%) 0.00 185
    2019-01-01 $112,000 (-7.3%) $140,350 (-3.1%) 0.00 165
    2019-02-01 $99,900 (-16.7%) $136,250 (-5.3%) 0.00 155
    2019-03-01 $99,900 (-16.4%) $141,035 (-2.4%) 0.00 157
    2019-04-01 $99,900 (-15.4%) $145,640 (1.1%) 0.00 150
    2019-05-01 $120,350 (-3.7%) $148,446 (2.3%) 0.00 162
    2019-06-01 $129,900 (2.5%) $154,252 (0.1%) 0.00 182
    2019-07-01 $136,950 (5.4%) $168,466 (10.2%) 0.00 187
    2019-08-01 $131,582 (3.4%) $162,845 (8.9%) 0.00 184
    2019-09-01 $130,130 (4.8%) $156,254 (7.7%) 0.00 184
    2019-10-01 $129,611 (8.0%) $155,920 (6.7%) 0.00 182
    2019-11-01 $127,200 (10.6%) $158,693 (11.6%) 0.00 175
    2019-12-01 $118,700 (8.4%) $156,026 (15.2%) 0.00 152
    2020-01-01 $117,450 (4.9%) $157,482 (12.2%) 0.00 140
    2020-02-01 $129,000 (29.1%) $169,355 (24.3%) 0.00 139
    2020-03-01 $131,150 (31.3%) $168,594 (19.5%) 0.00 135
    2020-04-01 $132,400 (32.5%) $172,337 (18.3%) 0.00 126
    2020-05-01 $134,900 (12.1%) $168,775 (13.7%) 0.00 124
    2020-06-01 $150,700 (16.0%) $175,389 (13.7%) 0.00 134
    2020-07-01 $149,225 (9.0%) $170,304 (1.1%) 0.00 131
    2020-08-01 $147,450 (12.1%) $180,436 (10.8%) 0.00 122
    2020-09-01 $134,950 (3.7%) $169,870 (8.7%) 0.00 119
    2020-10-01 $127,900 (-1.3%) $173,457 (11.3%) 0.00 114
    2020-11-01 $152,200 (19.7%) $186,143 (17.3%) 0.00 100
    2020-12-01 $169,450 (42.8%) $221,959 (42.3%) 0.00 81
    2021-01-01 $154,450 (31.5%) $228,398 (45.0%) 0.00 74
    2021-02-01 $149,900 (16.2%) $229,052 (35.3%) 0.00 71
    2021-03-01 $149,800 (14.2%) $233,183 (38.3%) 0.00 64
    2021-04-01 $162,125 (22.5%) $192,865 (11.9%) 0.00 62
    2021-05-01 $176,200 (30.6%) $195,955 (16.1%) 0.00 61
    2021-06-01 $175,525 (16.5%) $202,031 (15.2%) 0.00 62
    2021-07-01 $173,000 (15.9%) $197,174 (15.8%) 0.00 74
    2021-08-01 $153,675 (4.2%) $207,136 (14.8%) 0.00 78
    2021-09-01 $157,175 (16.5%) $226,382 (33.3%) 0.00 75
    2021-10-01 $160,000 (25.1%) $248,535 (43.3%) 0.00 67
    2021-11-01 $189,675 (24.6%) $250,122 (34.4%) 0.00 63
    2021-12-01 $195,725 (15.5%) $277,186 (24.9%) 0.00 57
    2022-01-01 $179,950 (16.5%) $255,915 (12.1%) 0.00 48
    2022-02-01 $179,975 (20.1%) $258,254 (12.8%) 0.00 48
    2022-03-01 $180,950 (20.8%) $247,195 (6.0%) 0.00 53
    2022-04-01 $174,950 (7.9%) $240,884 (24.9%) 0.00 53
    2022-05-01 $189,875 (7.8%) $238,548 (21.7%) 0.00 46
    2022-06-01 $200,000 (13.9%) $262,968 (30.2%) 0.00 44
    2022-07-01 $194,900 (12.7%) $258,940 (31.3%) 0.00 46
    2022-08-01 $182,175 (18.6%) $208,536 (0.7%) 0.00 58
    2022-09-01 $172,450 (9.7%) $210,755 (-6.9%) 0.00 56
    2022-10-01 $179,500 (12.2%) $213,308 (-14.2%) 0.00 62
    2022-11-01 $210,675 (11.1%) $224,234 (-10.4%) 0.00 59
    2022-12-01 $177,900 (-9.1%) $207,274 (-25.2%) 0.00 56
    2023-01-01 $144,450 (-19.7%) $193,796 (-24.3%) 0.00 45
    2023-02-01 $142,150 (-21.0%) $198,622 (-23.1%) 0.00 38
    2023-03-01 $132,225 (-26.9%) $187,584 (-24.1%) 0.00 43
    2023-04-01 $162,400 (-7.2%) $205,662 (-14.6%) 0.00 40
    2023-05-01 $159,250 (-16.1%) $198,248 (-16.9%) 0.00 46
    2023-06-01 $169,925 (-15.0%) $213,059 (-19.0%) 0.00 48
    2023-07-01 $189,450 (-2.8%) $238,524 (-7.9%) 0.00 52
    2023-08-01 $205,000 (12.5%) $255,905 (22.7%) 0.00 59
    2023-09-01 $239,000 (38.6%) $288,568 (36.9%) 0.00 57
    2023-10-01 $229,000 (27.6%) $285,754 (34.0%) 0.00 56
    2023-11-01 $180,000 (-14.6%) $251,728 (12.3%) 0.00 53
    2023-12-01 $179,900 (1.1%) $259,306 (25.1%) 0.00 47
    2024-01-01 $191,000 (32.2%) $224,265 (15.7%) 0.00 43
    2024-02-01 $171,225 (20.5%) $200,066 (0.7%) 0.00 38
    2024-03-01 $185,900 (40.6%) $201,832 (7.6%) 0.00 34
    2024-04-01 $223,225 (37.5%) $248,119 (20.6%) 0.00 30
    2024-05-01 $220,750 (38.6%) $253,323 (27.8%) 0.00 41
    2024-06-01 $204,900 (20.6%) $279,357 (31.1%) 0.00 38
    2024-07-01 $189,450 (0.0%) $256,240 (7.4%) 0.00 45
    2024-08-01 $179,900 (-12.2%) $260,455 (1.8%) 0.00 44
    2024-09-01 $184,950 (-22.6%) $254,642 (-11.8%) 0.00 41
    2024-10-01 $191,500 (-16.4%) $261,367 (-8.5%) 0.00 43
    Cortland's median listing price for 2024-10-01 was $191,500, a difference of $-37,500 (-16.4%) versus the prior year and $6,550 versus the prior month.

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

    Cortland's average listing price for 2024-10-01 was $261,367, a difference of $-24,387 (-8.5%) versus the prior year and $6,725 versus the prior month.

    For the 2024-10-01 period, Cortland had 43 MLS listings, a difference of 2 listings (5%) versus the prior month and -13 listings (-23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cortland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,493 sqft
    2018-02-01 0 days 1,476 sqft
    2018-03-01 0 days 1,470 sqft
    2018-04-01 0 days 1,476 sqft
    2018-05-01 0 days 1,471 sqft
    2018-06-01 0 days 1,518 sqft
    2018-07-01 0 days 1,557 sqft
    2018-08-01 0 days 1,520 sqft
    2018-09-01 0 days 1,460 sqft
    2018-10-01 0 days 1,456 sqft
    2018-11-01 0 days 1,420 sqft
    2018-12-01 0 days 1,320 sqft
    2019-01-01 0 days 1,335 sqft
    2019-02-01 0 days 1,354 sqft
    2019-03-01 0 days 1,375 sqft
    2019-04-01 0 days 1,360 sqft
    2019-05-01 0 days 1,426 sqft
    2019-06-01 0 days 1,489 sqft
    2019-07-01 0 days 1,488 sqft
    2019-08-01 0 days 1,485 sqft
    2019-09-01 0 days 1,518 sqft
    2019-10-01 0 days 1,538 sqft
    2019-11-01 0 days 1,534 sqft
    2019-12-01 0 days 1,429 sqft
    2020-01-01 0 days 1,443 sqft
    2020-02-01 0 days 1,512 sqft
    2020-03-01 0 days 1,495 sqft
    2020-04-01 0 days 1,414 sqft
    2020-05-01 0 days 1,440 sqft
    2020-06-01 0 days 1,537 sqft
    2020-07-01 0 days 1,600 sqft
    2020-08-01 0 days 1,579 sqft
    2020-09-01 0 days 1,574 sqft
    2020-10-01 0 days 1,520 sqft
    2020-11-01 0 days 1,627 sqft
    2020-12-01 0 days 1,697 sqft
    2021-01-01 0 days 1,761 sqft
    2021-02-01 0 days 1,733 sqft
    2021-03-01 0 days 1,671 sqft
    2021-04-01 0 days 1,690 sqft
    2021-05-01 0 days 1,680 sqft
    2021-06-01 0 days 1,579 sqft
    2021-07-01 0 days 1,645 sqft
    2021-08-01 0 days 1,663 sqft
    2021-09-01 0 days 1,656 sqft
    2021-10-01 0 days 1,730 sqft
    2021-11-01 0 days 1,632 sqft
    2021-12-01 0 days 1,730 sqft
    2022-01-01 0 days 1,730 sqft
    2022-02-01 0 days 1,737 sqft
    2022-03-01 0 days 1,692 sqft
    2022-04-01 0 days 1,717 sqft
    2022-05-01 0 days 1,705 sqft
    2022-06-01 0 days 1,667 sqft
    2022-07-01 0 days 1,728 sqft
    2022-08-01 0 days 1,649 sqft
    2022-09-01 0 days 1,652 sqft
    2022-10-01 0 days 1,657 sqft
    2022-11-01 0 days 1,696 sqft
    2022-12-01 0 days 1,666 sqft
    2023-01-01 0 days 1,636 sqft
    2023-02-01 0 days 1,366 sqft
    2023-03-01 0 days 1,533 sqft
    2023-04-01 0 days 1,626 sqft
    2023-05-01 0 days 1,424 sqft
    2023-06-01 0 days 1,476 sqft
    2023-07-01 0 days 1,565 sqft
    2023-08-01 0 days 1,539 sqft
    2023-09-01 0 days 1,716 sqft
    2023-10-01 0 days 1,705 sqft
    2023-11-01 0 days 1,676 sqft
    2023-12-01 0 days 1,687 sqft
    2024-01-01 0 days 1,677 sqft
    2024-02-01 0 days 1,602 sqft
    2024-03-01 0 days 1,572 sqft
    2024-04-01 0 days 1,754 sqft
    2024-05-01 0 days 1,885 sqft
    2024-06-01 0 days 1,688 sqft
    2024-07-01 0 days 1,502 sqft
    2024-08-01 0 days 1,504 sqft
    2024-09-01 0 days 1,407 sqft
    2024-10-01 0 days 1,470 sqft
    Cortland's median listing age (time on market) for 2024-10-01 was 0 days.

    Cortland's median square footage for active listings during the 2024-10-01 period was 1,470 sqft. One year prior, the average listing was 1,705 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.