Elmira VA Loan Rates, Closing Costs & Stats

ELMIRA, 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.

    Elmira's 19 lenders originated 55 VA loans during 2023. The total origination value was $11,935,000, with an average VA loan value of $217,000.

    Elmira VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Elmira averaged 6.78% for the week of 2025-02-14, compared to the national average (all VA variants) of 6.428% for the same period.

    Elmira's average VA mortgage closing costs are $4,904.

    The average rate for the prior week (2025-02-07) was 6.71% and one month ago for the week of 2025-01-10, the average rate was 6.75%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.23%.

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

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 15 6.49% $6,424
    Mortgage Research Center, LLC 7 6.68% $5,188
    QUICKEN LOANS, LLC 4 6.74% $7,194
    USAA Federal Savings Bank 4 5.84% $7,587
    PARAGON HOME LOANS INC. 3 6.79% $7,211
    Barrington Bank & Trust Company, N.A. 3 6.92% $6,285
    NAVY FEDERAL CREDIT UNION 2 6.38% $6,540
    Community Bank 2 6.75% $7,064
    LOANDEPOT.COM, LLC 2 6.31% $7,062
    NEWREZ LLC 2 6.50% $5,837
    UNITED WHOLESALE MORTGAGE, LLC 2 6.13% $5,322
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.50% $11,330
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $6,487
    PREMIA MORTGAGE, LLC 1 6.25% $0
    Premium Mortgage Corporation 1 7.25% $7,197
    Mr. Cooper ( Nationstar Mortgage ) 1 6.00% $14,206
    The Federal Savings Bank 1 6.75% $46,900
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $4,442
    HOMESTEAD FUNDING CORP. 1 6.25% $15,693

    The top Elmira VA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 15 VA loans originated. Their average total fees are $6,424, which is $1,236 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Elmira VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($6,424), .

    The lowest rate Elmira VA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (6.49%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elmira (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 $99,900 (-10.6%) $145,904 (1.9%) 0.00 314
    2018-02-01 $97,175 (-16.3%) $144,018 (-1.6%) 0.00 311
    2018-03-01 $89,900 (-24.4%) $144,621 (-4.0%) 0.00 302
    2018-04-01 $92,450 (-25.9%) $147,569 (-6.3%) 0.00 304
    2018-05-01 $102,475 (-19.1%) $155,190 (-4.2%) 0.00 336
    2018-06-01 $110,000 (-14.7%) $160,012 (-2.2%) 0.00 386
    2018-07-01 $109,900 (-12.1%) $156,527 (-5.7%) 0.00 386
    2018-08-01 $109,925 (-8.4%) $161,158 (-0.5%) 0.00 377
    2018-09-01 $109,900 (-6.8%) $159,345 (0.6%) 0.00 362
    2018-10-01 $109,900 (-7.6%) $159,556 (0.0%) 0.00 339
    2018-11-01 $103,700 (-9.0%) $152,491 (-1.4%) 0.00 326
    2018-12-01 $99,700 (-0.2%) $143,275 (-1.2%) 0.00 306
    2019-01-01 $96,475 (-3.4%) $137,186 (-6.0%) 0.00 290
    2019-02-01 $99,950 (2.9%) $140,243 (-2.6%) 0.00 284
    2019-03-01 $109,500 (21.8%) $147,351 (1.9%) 0.00 274
    2019-04-01 $119,900 (29.7%) $161,914 (9.7%) 0.00 256
    2019-05-01 $115,450 (12.7%) $174,418 (12.4%) 0.00 265
    2019-06-01 $118,500 (7.7%) $166,162 (3.8%) 0.00 276
    2019-07-01 $127,400 (15.9%) $172,814 (10.4%) 0.00 279
    2019-08-01 $131,845 (19.9%) $171,691 (6.5%) 0.00 297
    2019-09-01 $127,264 (15.8%) $165,446 (3.8%) 0.00 307
    2019-10-01 $121,800 (10.8%) $158,808 (-0.5%) 0.00 318
    2019-11-01 $109,000 (5.1%) $153,013 (0.3%) 0.00 294
    2019-12-01 $105,725 (6.0%) $153,324 (7.0%) 0.00 270
    2020-01-01 $109,000 (13.0%) $150,133 (9.4%) 0.00 252
    2020-02-01 $115,000 (15.1%) $153,465 (9.4%) 0.00 258
    2020-03-01 $106,000 (-3.2%) $152,391 (3.4%) 0.00 258
    2020-04-01 $121,900 (1.7%) $160,515 (-0.9%) 0.00 245
    2020-05-01 $124,900 (8.2%) $166,798 (-4.4%) 0.00 232
    2020-06-01 $139,950 (18.1%) $183,734 (10.6%) 0.00 242
    2020-07-01 $146,500 (15.0%) $193,462 (12.0%) 0.00 211
    2020-08-01 $146,250 (10.9%) $196,578 (14.5%) 0.00 184
    2020-09-01 $139,900 (9.9%) $193,867 (17.2%) 0.00 169
    2020-10-01 $131,000 (7.6%) $190,204 (19.8%) 0.00 172
    2020-11-01 $132,000 (21.1%) $192,106 (25.6%) 0.00 166
    2020-12-01 $129,900 (22.9%) $182,540 (19.1%) 0.00 172
    2021-01-01 $129,900 (19.2%) $181,476 (20.9%) 0.00 163
    2021-02-01 $130,550 (13.5%) $195,776 (27.6%) 0.00 133
    2021-03-01 $137,975 (30.2%) $196,777 (29.1%) 0.00 128
    2021-04-01 $146,175 (19.9%) $206,975 (28.9%) 0.00 115
    2021-05-01 $154,000 (23.3%) $228,911 (37.2%) 0.00 133
    2021-06-01 $169,950 (21.4%) $232,472 (26.5%) 0.00 150
    2021-07-01 $165,000 (12.6%) $211,066 (9.1%) 0.00 158
    2021-08-01 $159,225 (8.9%) $193,112 (-1.8%) 0.00 181
    2021-09-01 $150,925 (7.9%) $190,335 (-1.8%) 0.00 163
    2021-10-01 $148,950 (13.7%) $191,107 (0.5%) 0.00 149
    2021-11-01 $139,450 (5.6%) $182,643 (-4.9%) 0.00 146
    2021-12-01 $124,825 (-3.9%) $174,621 (-4.3%) 0.00 141
    2022-01-01 $124,000 (-4.5%) $181,057 (-0.2%) 0.00 117
    2022-02-01 $115,950 (-11.2%) $178,714 (-8.7%) 0.00 104
    2022-03-01 $96,975 (-29.7%) $164,518 (-16.4%) 0.00 114
    2022-04-01 $99,900 (-31.7%) $176,075 (-14.9%) 0.00 115
    2022-05-01 $121,200 (-21.3%) $194,653 (-15.0%) 0.00 130
    2022-06-01 $131,250 (-22.8%) $203,955 (-12.3%) 0.00 137
    2022-07-01 $134,900 (-18.2%) $212,471 (0.7%) 0.00 152
    2022-08-01 $132,975 (-16.5%) $207,495 (7.5%) 0.00 148
    2022-09-01 $143,725 (-4.8%) $211,342 (11.0%) 0.00 161
    2022-10-01 $149,950 (0.7%) $211,089 (10.5%) 0.00 162
    2022-11-01 $167,975 (20.5%) $222,340 (21.7%) 0.00 172
    2022-12-01 $175,000 (40.2%) $232,049 (32.9%) 0.00 143
    2023-01-01 $166,600 (34.4%) $211,885 (17.0%) 0.00 119
    2023-02-01 $154,675 (33.4%) $199,728 (11.8%) 0.00 104
    2023-03-01 $149,600 (54.3%) $204,856 (24.5%) 0.00 99
    2023-04-01 $159,900 (60.1%) $228,102 (29.6%) 0.00 102
    2023-05-01 $149,950 (23.7%) $226,895 (16.6%) 0.00 114
    2023-06-01 $155,000 (18.1%) $232,338 (13.9%) 0.00 103
    2023-07-01 $168,500 (24.9%) $236,443 (11.3%) 0.00 112
    2023-08-01 $152,950 (15.0%) $220,264 (6.2%) 0.00 133
    2023-09-01 $164,900 (14.7%) $236,035 (11.7%) 0.00 136
    2023-10-01 $169,675 (13.2%) $240,584 (14.0%) 0.00 143
    2023-11-01 $152,750 (-9.1%) $226,138 (1.7%) 0.00 144
    2023-12-01 $152,450 (-12.9%) $226,011 (-2.6%) 0.00 132
    2024-01-01 $146,400 (-12.1%) $215,515 (1.7%) 0.00 120
    2024-02-01 $147,675 (-4.5%) $217,307 (8.8%) 0.00 112
    2024-03-01 $175,000 (17.0%) $230,479 (12.5%) 0.00 103
    2024-04-01 $188,725 (18.0%) $252,544 (10.7%) 0.00 93
    2024-05-01 $185,500 (23.7%) $249,810 (10.1%) 0.00 101
    2024-06-01 $199,900 (29.0%) $259,090 (11.5%) 0.00 123
    2024-07-01 $184,950 (9.8%) $245,988 (4.0%) 0.00 144
    2024-08-01 $174,900 (14.4%) $227,436 (3.3%) 0.00 153
    2024-09-01 $168,425 (2.1%) $220,448 (-6.6%) 0.00 170
    2024-10-01 $159,900 (-5.8%) $206,458 (-14.2%) 0.00 178
    2024-11-01 $165,000 (8.0%) $198,088 (-12.4%) 0.00 182
    2024-12-01 $162,450 (6.6%) $203,494 (-10.0%) 0.00 162
    2025-01-01 $163,000 (11.3%) $207,591 (-3.7%) 0.00 148
    Elmira's median listing price for 2025-01-01 was $163,000, a difference of $16,600 (11.3%) versus the prior year and $550 versus the prior month.

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

    Elmira's average listing price for 2025-01-01 was $207,591, a difference of $-7,924 (-3.7%) versus the prior year and $4,097 versus the prior month.

    For the 2025-01-01 period, Elmira had 148 MLS listings, a difference of -14 listings (-9%) versus the prior month and 28 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elmira (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,631 sqft
    2018-02-01 0 days 1,617 sqft
    2018-03-01 0 days 1,600 sqft
    2018-04-01 0 days 1,577 sqft
    2018-05-01 0 days 1,589 sqft
    2018-06-01 0 days 1,635 sqft
    2018-07-01 0 days 1,659 sqft
    2018-08-01 0 days 1,665 sqft
    2018-09-01 0 days 1,638 sqft
    2018-10-01 0 days 1,689 sqft
    2018-11-01 0 days 1,677 sqft
    2018-12-01 0 days 1,635 sqft
    2019-01-01 0 days 1,622 sqft
    2019-02-01 0 days 1,619 sqft
    2019-03-01 0 days 1,636 sqft
    2019-04-01 0 days 1,683 sqft
    2019-05-01 0 days 1,713 sqft
    2019-06-01 0 days 1,805 sqft
    2019-07-01 0 days 1,854 sqft
    2019-08-01 0 days 1,809 sqft
    2019-09-01 0 days 1,785 sqft
    2019-10-01 0 days 1,754 sqft
    2019-11-01 0 days 1,680 sqft
    2019-12-01 0 days 1,740 sqft
    2020-01-01 0 days 1,645 sqft
    2020-02-01 0 days 1,721 sqft
    2020-03-01 0 days 1,735 sqft
    2020-04-01 0 days 1,724 sqft
    2020-05-01 0 days 1,720 sqft
    2020-06-01 0 days 1,797 sqft
    2020-07-01 0 days 1,859 sqft
    2020-08-01 0 days 1,910 sqft
    2020-09-01 0 days 1,880 sqft
    2020-10-01 0 days 1,861 sqft
    2020-11-01 0 days 1,813 sqft
    2020-12-01 0 days 1,821 sqft
    2021-01-01 0 days 1,734 sqft
    2021-02-01 0 days 1,716 sqft
    2021-03-01 0 days 1,739 sqft
    2021-04-01 0 days 1,810 sqft
    2021-05-01 0 days 1,862 sqft
    2021-06-01 0 days 1,896 sqft
    2021-07-01 0 days 1,836 sqft
    2021-08-01 0 days 1,760 sqft
    2021-09-01 0 days 1,805 sqft
    2021-10-01 0 days 1,757 sqft
    2021-11-01 0 days 1,705 sqft
    2021-12-01 0 days 1,610 sqft
    2022-01-01 0 days 1,589 sqft
    2022-02-01 0 days 1,603 sqft
    2022-03-01 0 days 1,591 sqft
    2022-04-01 0 days 1,631 sqft
    2022-05-01 0 days 1,698 sqft
    2022-06-01 0 days 1,760 sqft
    2022-07-01 0 days 1,703 sqft
    2022-08-01 0 days 1,693 sqft
    2022-09-01 0 days 1,680 sqft
    2022-10-01 0 days 1,724 sqft
    2022-11-01 0 days 1,703 sqft
    2022-12-01 0 days 1,732 sqft
    2023-01-01 0 days 1,693 sqft
    2023-02-01 0 days 1,593 sqft
    2023-03-01 0 days 1,650 sqft
    2023-04-01 0 days 1,715 sqft
    2023-05-01 0 days 1,590 sqft
    2023-06-01 0 days 1,736 sqft
    2023-07-01 0 days 1,815 sqft
    2023-08-01 0 days 1,792 sqft
    2023-09-01 0 days 1,820 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,762 sqft
    2023-12-01 0 days 1,760 sqft
    2024-01-01 0 days 1,697 sqft
    2024-02-01 0 days 1,655 sqft
    2024-03-01 0 days 1,772 sqft
    2024-04-01 0 days 1,874 sqft
    2024-05-01 0 days 1,715 sqft
    2024-06-01 0 days 1,803 sqft
    2024-07-01 0 days 1,728 sqft
    2024-08-01 0 days 1,662 sqft
    2024-09-01 0 days 1,646 sqft
    2024-10-01 0 days 1,636 sqft
    2024-11-01 0 days 1,759 sqft
    2024-12-01 0 days 1,670 sqft
    2025-01-01 0 days 1,636 sqft
    Elmira's median listing age (time on market) for 2025-01-01 was 0 days.

    Elmira's median square footage for active listings during the 2025-01-01 period was 1,636 sqft. One year prior, the average listing was 1,697 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.