Elko VA Loan Rates, Closing Costs & Stats

Elko, NV

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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.

    Elko's 28 lenders originated 66 VA loans during 2023. The total origination value was $23,250,000, with an average VA loan value of $352,273.

    Elko VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Elko averaged 6.9% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Elko's average VA mortgage closing costs are $7,097.

    The average rate for the prior week (2024-04-12) was 6.93% and one month ago for the week of 2024-03-15, the average rate was 6.79%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Elko 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 Elko level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 13 6.73% $13,283
    MOVEMENT MORTGAGE, LLC 5 7.18% $7,691
    Mortgage Research Center, LLC 5 6.60% $8,348
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.25% $9,900
    ISERVE RESIDENTIAL LENDING, LLC 4 6.88% $12,861
    QUICKEN LOANS, LLC 3 6.04% $13,568
    BROKER SOLUTIONS, INC. 3 6.88% $16,194
    CMG MORTGAGE, INC. 3 6.75% $21,037
    VILLAGE CAPITAL MORTGAGE 3 6.29% $9,557
    Wells Fargo Bank 2 6.56% $8,755
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 5.81% $8,247
    Magnolia Bank 2 7.06% $15,583
    UNITED WHOLESALE MORTGAGE, LLC 2 7.63% $15,567
    USAA Federal Savings Bank 1 5.75% $18,277
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $9,008
    ZILLOW HOME LOANS, LLC 1 5.13% $18,681
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $8,053
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $16,179
    GREATER NEVADA LLC 1 6.25% $8,826
    GUARANTEED RATE, INC. 1 7.58% $10,159
    INFINITY EQUITY GROUP, INC. 1 7.13% $13,764
    NAVY FEDERAL CREDIT UNION 1 7.00% $2,527
    NBKC BANK 1 6.50% $2,761
    NEWREZ LLC 1 5.50% $9,415
    NFM, INC. 1 6.75% $23,990
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $3,625
    Plains Commerce Bank 1 6.25% $8,253
    SUMMIT FUNDING, INC. 1 7.25% $775

    The top Elko VA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 13 VA loans originated. Their average total fees are $13,283, which is $5,592 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Elko VA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($13,283), .

    The lowest rate Elko VA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.73%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elko (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 $269,590 (10.0%) $296,216 (11.8%) 0.00 219
    2018-02-01 $265,900 (9.7%) $297,420 (12.5%) 0.00 225
    2018-03-01 $268,780 (8.1%) $295,521 (11.3%) 0.00 213
    2018-04-01 $270,150 (8.8%) $301,604 (13.1%) 0.00 186
    2018-05-01 $278,188 (11.4%) $317,948 (17.3%) 0.00 182
    2018-06-01 $277,375 (7.1%) $303,848 (9.9%) 0.00 188
    2018-07-01 $279,950 (7.7%) $303,503 (9.7%) 0.00 212
    2018-08-01 $274,635 (5.7%) $296,641 (5.0%) 0.00 219
    2018-09-01 $272,500 (4.9%) $291,198 (0.6%) 0.00 223
    2018-10-01 $275,425 (4.3%) $297,622 (1.8%) 0.00 226
    2018-11-01 $281,950 (4.8%) $302,270 (4.8%) 0.00 211
    2018-12-01 $279,900 (3.9%) $331,644 (13.3%) 0.00 209
    2019-01-01 $281,450 (4.4%) $298,797 (0.9%) 0.00 206
    2019-02-01 $283,450 (6.6%) $302,764 (1.8%) 0.00 169
    2019-03-01 $296,729 (10.4%) $324,659 (9.9%) 0.00 184
    2019-04-01 $294,600 (9.1%) $333,477 (10.6%) 0.00 215
    2019-05-01 $288,175 (3.6%) $315,154 (-0.9%) 0.00 232
    2019-06-01 $289,450 (4.4%) $306,190 (0.8%) 0.00 244
    2019-07-01 $289,975 (3.6%) $307,642 (1.4%) 0.00 281
    2019-08-01 $294,608 (7.3%) $312,024 (5.2%) 0.00 272
    2019-09-01 $301,522 (10.7%) $314,899 (8.1%) 0.00 261
    2019-10-01 $305,132 (10.8%) $316,593 (6.4%) 0.00 252
    2019-11-01 $299,900 (6.4%) $316,883 (4.8%) 0.00 231
    2019-12-01 $304,475 (8.8%) $319,614 (-3.6%) 0.00 228
    2020-01-01 $300,200 (6.7%) $319,032 (6.8%) 0.00 215
    2020-02-01 $315,000 (11.1%) $318,964 (5.4%) 0.00 195
    2020-03-01 $315,500 (6.3%) $318,477 (-1.9%) 0.00 186
    2020-04-01 $318,963 (8.3%) $325,103 (-2.5%) 0.00 169
    2020-05-01 $337,900 (17.3%) $344,951 (9.5%) 0.00 163
    2020-06-01 $340,063 (17.5%) $346,553 (13.2%) 0.00 148
    2020-07-01 $342,225 (18.0%) $354,209 (15.1%) 0.00 132
    2020-08-01 $338,780 (15.0%) $354,906 (13.7%) 0.00 125
    2020-09-01 $350,500 (16.2%) $361,335 (14.8%) 0.00 115
    2020-10-01 $349,000 (14.4%) $366,289 (15.7%) 0.00 118
    2020-11-01 $381,500 (27.2%) $392,985 (24.0%) 0.00 130
    2020-12-01 $374,825 (23.1%) $385,877 (20.7%) 0.00 130
    2021-01-01 $375,500 (25.1%) $382,936 (20.0%) 0.00 120
    2021-02-01 $408,300 (29.6%) $403,730 (26.6%) 0.00 97
    2021-03-01 $415,000 (31.5%) $400,468 (25.7%) 0.00 102
    2021-04-01 $421,500 (32.2%) $411,199 (26.5%) 0.00 94
    2021-05-01 $392,000 (16.0%) $411,460 (19.3%) 0.00 44
    2021-06-01 $379,945 (11.7%) $492,909 (42.2%) 0.00 50
    2021-07-01 $336,450 (-1.7%) $440,222 (24.3%) 0.00 72
    2021-08-01 $361,000 (6.6%) $401,185 (13.0%) 0.00 80
    2021-09-01 $385,500 (10.0%) $412,131 (14.1%) 0.00 85
    2021-10-01 $416,000 (19.2%) $432,280 (18.0%) 0.00 128
    2021-11-01 $411,750 (7.9%) $434,060 (10.5%) 0.00 133
    2021-12-01 $420,000 (12.1%) $433,308 (12.3%) 0.00 126
    2022-01-01 $438,000 (16.6%) $431,616 (12.7%) 0.00 117
    2022-02-01 $462,500 (13.3%) $454,851 (12.7%) 0.00 102
    2022-03-01 $484,075 (16.6%) $466,057 (16.4%) 0.00 88
    2022-04-01 $499,000 (18.4%) $489,485 (19.0%) 0.00 78
    2022-05-01 $504,150 (28.6%) $503,627 (22.4%) 0.00 102
    2022-06-01 $499,950 (31.6%) $487,414 (-1.1%) 0.00 96
    2022-07-01 $513,350 (52.6%) $501,705 (14.0%) 0.00 112
    2022-08-01 $516,915 (43.2%) $515,121 (28.4%) 0.00 129
    2022-09-01 $512,350 (32.9%) $488,317 (18.5%) 0.00 143
    2022-10-01 $499,050 (20.0%) $481,236 (11.3%) 0.00 146
    2022-11-01 $485,100 (17.8%) $480,000 (10.6%) 0.00 152
    2022-12-01 $485,100 (15.5%) $471,324 (8.8%) 0.00 140
    2023-01-01 $476,275 (8.7%) $463,342 (7.4%) 0.00 122
    2023-02-01 $483,775 (4.6%) $468,228 (2.9%) 0.00 107
    2023-03-01 $532,200 (9.9%) $511,044 (9.7%) 0.00 90
    2023-04-01 $525,000 (5.2%) $508,070 (3.8%) 0.00 95
    2023-05-01 $517,900 (2.7%) $495,656 (-1.6%) 0.00 111
    2023-06-01 $502,450 (0.5%) $502,003 (3.0%) 0.00 130
    2023-07-01 $439,900 (-14.3%) $421,925 (-15.9%) 0.00 176
    2023-08-01 $402,250 (-22.2%) $414,480 (-19.5%) 0.00 181
    2023-09-01 $399,900 (-22.0%) $411,489 (-15.7%) 0.00 184
    2023-10-01 $398,450 (-20.2%) $415,274 (-13.7%) 0.00 178
    2023-11-01 $384,700 (-20.7%) $405,930 (-15.4%) 0.00 177
    2023-12-01 $406,500 (-16.2%) $407,982 (-13.4%) 0.00 154
    2024-01-01 $419,250 (-12.0%) $406,705 (-12.2%) 0.00 158
    2024-02-01 $420,000 (-13.2%) $389,214 (-16.9%) 0.00 152
    2024-03-01 $399,000 (-25.0%) $387,865 (-24.1%) 0.00 150
    Elko's median listing price for 2024-03-01 was $399,000, a difference of $-133,200 (-25.0%) versus the prior year and $-21,000 versus the prior month.

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

    Elko's average listing price for 2024-03-01 was $387,865, a difference of $-123,179 (-24.1%) versus the prior year and $-1,349 versus the prior month.

    For the 2024-03-01 period, Elko had 150 MLS listings, a difference of -2 listings (-1%) versus the prior month and 60 listings (67%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elko (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,990 sqft
    2018-02-01 0 days 1,980 sqft
    2018-03-01 0 days 2,043 sqft
    2018-04-01 0 days 1,976 sqft
    2018-05-01 0 days 2,061 sqft
    2018-06-01 0 days 2,041 sqft
    2018-07-01 0 days 1,866 sqft
    2018-08-01 0 days 1,778 sqft
    2018-09-01 0 days 1,734 sqft
    2018-10-01 0 days 1,750 sqft
    2018-11-01 0 days 1,770 sqft
    2018-12-01 0 days 1,900 sqft
    2019-01-01 0 days 1,888 sqft
    2019-02-01 0 days 1,882 sqft
    2019-03-01 0 days 1,920 sqft
    2019-04-01 0 days 1,910 sqft
    2019-05-01 0 days 1,899 sqft
    2019-06-01 0 days 1,900 sqft
    2019-07-01 0 days 1,916 sqft
    2019-08-01 0 days 1,953 sqft
    2019-09-01 0 days 2,002 sqft
    2019-10-01 0 days 2,035 sqft
    2019-11-01 0 days 2,062 sqft
    2019-12-01 0 days 2,082 sqft
    2020-01-01 0 days 2,113 sqft
    2020-02-01 0 days 2,016 sqft
    2020-03-01 0 days 2,000 sqft
    2020-04-01 0 days 2,008 sqft
    2020-05-01 0 days 2,128 sqft
    2020-06-01 0 days 2,115 sqft
    2020-07-01 0 days 2,114 sqft
    2020-08-01 0 days 2,114 sqft
    2020-09-01 0 days 2,141 sqft
    2020-10-01 0 days 2,114 sqft
    2020-11-01 0 days 2,114 sqft
    2020-12-01 0 days 2,086 sqft
    2021-01-01 0 days 2,001 sqft
    2021-02-01 0 days 2,220 sqft
    2021-03-01 0 days 2,220 sqft
    2021-04-01 0 days 2,220 sqft
    2021-05-01 0 days 2,213 sqft
    2021-06-01 0 days 2,256 sqft
    2021-07-01 0 days 2,239 sqft
    2021-08-01 0 days 2,065 sqft
    2021-09-01 0 days 2,036 sqft
    2021-10-01 0 days 2,114 sqft
    2021-11-01 0 days 2,047 sqft
    2021-12-01 0 days 2,112 sqft
    2022-01-01 0 days 2,114 sqft
    2022-02-01 0 days 2,204 sqft
    2022-03-01 0 days 2,220 sqft
    2022-04-01 0 days 2,263 sqft
    2022-05-01 0 days 2,287 sqft
    2022-06-01 0 days 2,290 sqft
    2022-07-01 0 days 2,115 sqft
    2022-08-01 0 days 2,220 sqft
    2022-09-01 0 days 2,190 sqft
    2022-10-01 0 days 2,182 sqft
    2022-11-01 0 days 2,137 sqft
    2022-12-01 0 days 2,114 sqft
    2023-01-01 0 days 2,114 sqft
    2023-02-01 0 days 2,190 sqft
    2023-03-01 0 days 2,231 sqft
    2023-04-01 0 days 2,221 sqft
    2023-05-01 0 days 2,189 sqft
    2023-06-01 0 days 2,186 sqft
    2023-07-01 0 days 2,204 sqft
    2023-08-01 0 days 2,202 sqft
    2023-09-01 0 days 2,190 sqft
    2023-10-01 0 days 2,127 sqft
    2023-11-01 0 days 2,114 sqft
    2023-12-01 0 days 2,200 sqft
    2024-01-01 0 days 2,236 sqft
    2024-02-01 0 days 2,157 sqft
    2024-03-01 0 days 2,156 sqft
    Elko's median listing age (time on market) for 2024-03-01 was 0 days.

    Elko's median square footage for active listings during the 2024-03-01 period was 2,156 sqft. One year prior, the average listing was 2,231 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.