Elmira VA Loan Rates, Closing Costs & Stats
ELMIRA, 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.
Elmira's 23 lenders originated 68 VA loans during 2024. The total origination value was $13,720,000, with an average VA loan value of $201,765.
Elmira VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Elmira
averaged
0.39%
for the week of 2025-06-20, compared to the national average (all VA variants) of
0% for the same period.
Elmira's average VA mortgage closing costs are $5,043.
The average rate for the prior week (2025-06-13) was
6.94% and
one month ago for the week of 2025-05-16, the
average rate was 6.9%.
The average rate one year ago was 7.1%.
For refis of the same type during the week of 2025-06-20, the average rate
was 0%.
Elmira 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 Elmira level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| Mortgage Research Center, LLC | 18 | 6.77% | $4,818 |
| QUICKEN LOANS, LLC | 8 | 6.64% | $8,194 |
| NAVY FEDERAL CREDIT UNION | 5 | 5.90% | $4,859 |
| MOVEMENT MORTGAGE, LLC | 5 | 6.43% | $9,573 |
| AMERICAN FINANCIAL NETWORK, INC. | 4 | 6.84% | $3,285 |
| Barrington Bank & Trust Company, N.A. | 4 | 6.13% | $3,191 |
| USAA Federal Savings Bank | 3 | 6.67% | $6,591 |
| NEWREZ LLC | 3 | 6.42% | $6,309 |
| Community Bank | 2 | 6.38% | $3,372 |
| M&T Bank | 2 | 6.00% | $6,417 |
| EVERETT FINANCIAL, INC. | 1 | 7.13% | $2,985 |
| ESL Federal Credit Union | 1 | 7.25% | $2,292 |
| AMERICU Credit Union | 1 | 6.13% | $18,304 |
| Northwest Bank | 1 | 6.38% | $4,613 |
| PARAGON HOME LOANS INC. | 1 | 7.13% | $9,943 |
| PLANET HOME LENDING, LLC | 1 | 5.88% | $7,021 |
| PREMIA MORTGAGE, LLC | 1 | 5.63% | $1,181 |
| Premium Mortgage Corporation | 1 | 6.75% | $3,205 |
| RELIANCE FIRST CAPITAL, LLC | 1 | 7.75% | $8,434 |
| SUN WEST MORTGAGE COMPANY, INC. | 1 | 8.13% | $11,031 |
| Ixonia Bank | 1 | 6.75% | $4,272 |
| FREEDOM MORTGAGE CORPORATION | 1 | 6.25% | $18,231 |
| Flagstar Bank, FSB | 1 | 7.25% | $2,292 |
The top Elmira VA lender as defined by loan originations is Mortgage Research Center, LLC, with
18 VA loans originated. Their average total fees are
$4,818, which is $3,376
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Elmira VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC ($4,818), .
The lowest rate Elmira VA lenders (with over 10 loans originated) are
Mortgage Research Center, LLC (6.77%), .