Elk City VA Loan Rates, Closing Costs & Stats

Elk City, OK

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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.

    Elk City's 14 lenders originated 34 VA loans during 2023. The total origination value was $7,950,000, with an average VA loan value of $233,824.

    Elk City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Elk City averaged 0.42% for the week of 2024-11-15, compared to the national average (all VA variants) of 0% for the same period.

    Elk City's average VA mortgage closing costs are $4,503.

    The average rate for the prior week (2024-11-08) was 6.93% and one month ago for the week of 2024-10-11, the average rate was 6.4%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    Elk City 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 Elk City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 6 6.79% $3,014
    SUN WEST MORTGAGE COMPANY, INC. 4 6.52% $5,108
    INTERLINC MORTGAGE SERVICES, LLC 4 6.94% $9,771
    USAA Federal Savings Bank 4 6.72% $5,378
    UNITED WHOLESALE MORTGAGE, LLC 3 6.85% $2,175
    GUARANTEED RATE, INC. 2 7.25% $385
    Unify Home Lending Inc. 2 6.50% $7,658
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.63% $4,838
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $4,242
    FINANCIAL CONCEPTS MORTGAGE, LLC 1 6.25% $5,893
    LOANPAL, LLC 1 5.63% $11,185
    CMG MORTGAGE, INC. 1 6.75% $3,890
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $5,747
    The Federal Savings Bank 1 5.75% $32,079

    The top Elk City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 6 VA loans originated. Their average total fees are $3,014, which is $2,094 lower than the next largest lender, SUN WEST MORTGAGE COMPANY, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elk City (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 $127,000 (-8.8%) $170,661 (11.7%) 0.00 195
    2018-02-01 $127,500 (-6.6%) $170,832 (16.0%) 0.00 198
    2018-03-01 $125,000 (-7.3%) $165,625 (12.0%) 0.00 208
    2018-04-01 $129,900 (-3.8%) $168,247 (10.0%) 0.00 222
    2018-05-01 $129,925 (-6.0%) $172,104 (7.4%) 0.00 221
    2018-06-01 $139,000 (-0.4%) $175,072 (9.6%) 0.00 236
    2018-07-01 $134,850 (-4.6%) $168,814 (5.8%) 0.00 227
    2018-08-01 $134,825 (-0.1%) $170,686 (9.2%) 0.00 225
    2018-09-01 $134,500 (-0.4%) $171,462 (8.7%) 0.00 210
    2018-10-01 $145,000 (7.4%) $179,034 (12.5%) 0.00 212
    2018-11-01 $149,325 (10.9%) $180,018 (12.6%) 0.00 220
    2018-12-01 $147,000 (13.1%) $179,938 (6.5%) 0.00 220
    2019-01-01 $144,225 (13.6%) $174,833 (2.5%) 0.00 211
    2019-02-01 $142,225 (11.6%) $177,557 (3.9%) 0.00 204
    2019-03-01 $146,829 (17.5%) $177,376 (7.1%) 0.00 197
    2019-04-01 $149,950 (15.4%) $185,313 (10.1%) 0.00 194
    2019-05-01 $149,950 (15.4%) $179,799 (4.5%) 0.00 193
    2019-06-01 $149,900 (7.8%) $175,737 (0.4%) 0.00 202
    2019-07-01 $149,000 (10.5%) $172,643 (2.3%) 0.00 198
    2019-08-01 $147,818 (9.6%) $172,920 (1.3%) 0.00 199
    2019-09-01 $149,045 (10.8%) $174,231 (1.6%) 0.00 198
    2019-10-01 $149,950 (3.4%) $175,105 (-2.2%) 0.00 197
    2019-11-01 $149,900 (0.4%) $172,430 (-4.2%) 0.00 190
    2019-12-01 $149,925 (2.0%) $169,177 (-6.0%) 0.00 203
    2020-01-01 $148,750 (3.1%) $167,965 (-3.9%) 0.00 204
    2020-02-01 $146,250 (2.8%) $163,586 (-7.9%) 0.00 196
    2020-03-01 $145,625 (-0.8%) $165,601 (-6.6%) 0.00 193
    2020-04-01 $146,000 (-2.6%) $170,233 (-8.1%) 0.00 199
    2020-05-01 $139,450 (-7.0%) $165,462 (-8.0%) 0.00 197
    2020-06-01 $139,000 (-7.3%) $168,949 (-3.9%) 0.00 172
    2020-07-01 $126,500 (-15.1%) $168,014 (-2.7%) 0.00 175
    2020-08-01 $132,900 (-10.1%) $170,883 (-1.2%) 0.00 168
    2020-09-01 $139,475 (-6.4%) $176,478 (1.3%) 0.00 156
    2020-10-01 $135,000 (-10.0%) $166,940 (-4.7%) 0.00 169
    2020-11-01 $134,750 (-10.1%) $167,767 (-2.7%) 0.00 158
    2020-12-01 $135,000 (-10.0%) $170,141 (0.6%) 0.00 158
    2021-01-01 $132,000 (-11.3%) $189,664 (12.9%) 0.00 155
    2021-02-01 $135,450 (-7.4%) $232,015 (41.8%) 0.00 151
    2021-03-01 $139,675 (-4.1%) $231,873 (40.0%) 0.00 150
    2021-04-01 $134,950 (-7.6%) $235,444 (38.3%) 0.00 153
    2021-05-01 $135,500 (-2.8%) $256,839 (55.2%) 0.00 137
    2021-06-01 $147,450 (6.1%) $277,367 (64.2%) 0.00 140
    2021-07-01 $159,900 (26.4%) $300,435 (78.8%) 0.00 144
    2021-08-01 $159,900 (20.3%) $306,970 (79.6%) 0.00 129
    2021-09-01 $162,250 (16.3%) $320,133 (81.4%) 0.00 128
    2021-10-01 $159,200 (17.9%) $309,904 (85.6%) 0.00 130
    2021-11-01 $160,450 (19.1%) $315,414 (88.0%) 0.00 119
    2021-12-01 $159,975 (18.5%) $287,886 (69.2%) 0.00 101
    2022-01-01 $158,500 (20.1%) $258,441 (36.3%) 0.00 97
    2022-02-01 $158,000 (16.7%) $206,205 (-11.1%) 0.00 96
    2022-03-01 $144,475 (3.4%) $199,365 (-14.0%) 0.00 90
    2022-04-01 $118,400 (-12.3%) $181,070 (-23.1%) 0.00 84
    2022-05-01 $136,000 (0.4%) $196,214 (-23.6%) 0.00 82
    2022-06-01 $126,975 (-13.9%) $195,640 (-29.5%) 0.00 100
    2022-07-01 $152,450 (-4.7%) $211,779 (-29.5%) 0.00 114
    2022-08-01 $154,975 (-3.1%) $215,822 (-29.7%) 0.00 110
    2022-09-01 $154,950 (-4.5%) $223,501 (-30.2%) 0.00 101
    2022-10-01 $157,450 (-1.1%) $236,029 (-23.8%) 0.00 92
    2022-11-01 $159,950 (-0.3%) $237,517 (-24.7%) 0.00 94
    2022-12-01 $159,900 (-0.1%) $231,358 (-19.6%) 0.00 97
    2023-01-01 $157,400 (-0.7%) $225,015 (-12.9%) 0.00 94
    2023-02-01 $184,925 (17.0%) $223,227 (8.3%) 0.00 94
    2023-03-01 $185,500 (28.4%) $230,443 (15.6%) 0.00 92
    2023-04-01 $187,500 (58.4%) $222,298 (22.8%) 0.00 87
    2023-05-01 $172,000 (26.5%) $218,183 (11.2%) 0.00 89
    2023-06-01 $172,000 (35.5%) $217,810 (11.3%) 0.00 86
    2023-07-01 $174,900 (14.7%) $227,527 (7.4%) 0.00 86
    2023-08-01 $196,500 (26.8%) $240,972 (11.7%) 0.00 85
    2023-09-01 $186,950 (20.7%) $229,381 (2.6%) 0.00 89
    2023-10-01 $185,250 (17.7%) $226,590 (-4.0%) 0.00 100
    2023-11-01 $178,000 (11.3%) $217,023 (-8.6%) 0.00 100
    2023-12-01 $179,000 (11.9%) $231,782 (0.2%) 0.00 95
    2024-01-01 $169,000 (7.4%) $233,281 (3.7%) 0.00 98
    2024-02-01 $162,000 (-12.4%) $233,111 (4.4%) 0.00 90
    2024-03-01 $177,400 (-4.4%) $237,232 (3.0%) 0.00 89
    2024-04-01 $183,650 (-2.1%) $224,349 (0.9%) 0.00 90
    2024-05-01 $194,950 (13.3%) $231,105 (5.9%) 0.00 90
    2024-06-01 $194,900 (13.3%) $242,670 (11.4%) 0.00 90
    2024-07-01 $197,400 (12.9%) $240,921 (5.9%) 0.00 93
    2024-08-01 $202,450 (3.0%) $240,873 (0.0%) 0.00 95
    2024-09-01 $231,200 (23.7%) $250,757 (9.3%) 0.00 99
    2024-10-01 $237,475 (28.2%) $260,631 (15.0%) 0.00 96
    Elk City's median listing price for 2024-10-01 was $237,475, a difference of $52,225 (28.2%) versus the prior year and $6,275 versus the prior month.

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

    Elk City's average listing price for 2024-10-01 was $260,631, a difference of $34,041 (15.0%) versus the prior year and $9,874 versus the prior month.

    For the 2024-10-01 period, Elk City had 96 MLS listings, a difference of -3 listings (-3%) versus the prior month and -4 listings (-4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elk City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,634 sqft
    2018-02-01 0 days 1,612 sqft
    2018-03-01 0 days 1,522 sqft
    2018-04-01 0 days 1,600 sqft
    2018-05-01 0 days 1,570 sqft
    2018-06-01 0 days 1,599 sqft
    2018-07-01 0 days 1,600 sqft
    2018-08-01 0 days 1,602 sqft
    2018-09-01 0 days 1,687 sqft
    2018-10-01 0 days 1,674 sqft
    2018-11-01 0 days 1,718 sqft
    2018-12-01 0 days 1,716 sqft
    2019-01-01 0 days 1,706 sqft
    2019-02-01 0 days 1,690 sqft
    2019-03-01 0 days 1,715 sqft
    2019-04-01 0 days 1,747 sqft
    2019-05-01 0 days 1,747 sqft
    2019-06-01 0 days 1,724 sqft
    2019-07-01 0 days 1,677 sqft
    2019-08-01 0 days 1,677 sqft
    2019-09-01 0 days 1,683 sqft
    2019-10-01 0 days 1,685 sqft
    2019-11-01 0 days 1,638 sqft
    2019-12-01 0 days 1,618 sqft
    2020-01-01 0 days 1,631 sqft
    2020-02-01 0 days 1,620 sqft
    2020-03-01 0 days 1,630 sqft
    2020-04-01 0 days 1,631 sqft
    2020-05-01 0 days 1,608 sqft
    2020-06-01 0 days 1,622 sqft
    2020-07-01 0 days 1,629 sqft
    2020-08-01 0 days 1,658 sqft
    2020-09-01 0 days 1,621 sqft
    2020-10-01 0 days 1,608 sqft
    2020-11-01 0 days 1,564 sqft
    2020-12-01 0 days 1,603 sqft
    2021-01-01 0 days 1,587 sqft
    2021-02-01 0 days 1,541 sqft
    2021-03-01 0 days 1,595 sqft
    2021-04-01 0 days 1,582 sqft
    2021-05-01 0 days 1,608 sqft
    2021-06-01 0 days 1,675 sqft
    2021-07-01 0 days 1,730 sqft
    2021-08-01 0 days 1,696 sqft
    2021-09-01 0 days 1,715 sqft
    2021-10-01 0 days 1,755 sqft
    2021-11-01 0 days 1,732 sqft
    2021-12-01 0 days 1,639 sqft
    2022-01-01 0 days 1,632 sqft
    2022-02-01 0 days 1,580 sqft
    2022-03-01 0 days 1,627 sqft
    2022-04-01 0 days 1,448 sqft
    2022-05-01 0 days 1,586 sqft
    2022-06-01 0 days 1,573 sqft
    2022-07-01 0 days 1,614 sqft
    2022-08-01 0 days 1,589 sqft
    2022-09-01 0 days 1,623 sqft
    2022-10-01 0 days 1,719 sqft
    2022-11-01 0 days 1,775 sqft
    2022-12-01 0 days 1,717 sqft
    2023-01-01 0 days 1,718 sqft
    2023-02-01 0 days 1,766 sqft
    2023-03-01 0 days 1,821 sqft
    2023-04-01 0 days 1,766 sqft
    2023-05-01 0 days 1,709 sqft
    2023-06-01 0 days 1,702 sqft
    2023-07-01 0 days 1,680 sqft
    2023-08-01 0 days 1,798 sqft
    2023-09-01 0 days 1,748 sqft
    2023-10-01 0 days 1,706 sqft
    2023-11-01 0 days 1,634 sqft
    2023-12-01 0 days 1,600 sqft
    2024-01-01 0 days 1,581 sqft
    2024-02-01 0 days 1,578 sqft
    2024-03-01 0 days 1,610 sqft
    2024-04-01 0 days 1,587 sqft
    2024-05-01 0 days 1,670 sqft
    2024-06-01 0 days 1,689 sqft
    2024-07-01 0 days 1,693 sqft
    2024-08-01 0 days 1,740 sqft
    2024-09-01 0 days 1,854 sqft
    2024-10-01 0 days 1,866 sqft
    Elk City's median listing age (time on market) for 2024-10-01 was 0 days.

    Elk City's median square footage for active listings during the 2024-10-01 period was 1,866 sqft. One year prior, the average listing was 1,706 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.