Glens Falls VA Loan Rates, Closing Costs & Stats

GLENS FALLS, 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.

    Glens Falls's 30 lenders originated 109 VA loans during 2022. The total origination value was $25,475,000, with an average VA loan value of $233,716.

    Glens Falls VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Glens Falls averaged -0.44% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Glens Falls's average VA mortgage closing costs are $5,276.

    The average rate for the prior week (2023-11-17) was 6.6% and one month ago for the week of 2023-10-20, the average rate was 7.13%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.19%.

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

    Glens Falls 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 Glens Falls level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 21 4.52% $7,506
    Mortgage Research Center, LLC 17 4.81% $5,369
    HOMESTEAD FUNDING CORP. 10 4.50% $4,138
    UNITED WHOLESALE MORTGAGE, LLC 5 4.98% $8,829
    Mr. Cooper ( Nationstar Mortgage ) 5 4.38% $4,718
    NAVY FEDERAL CREDIT UNION 5 4.20% $9,282
    FREEDOM MORTGAGE CORPORATION 4 4.66% $12,666
    Barrington Bank & Trust Company, N.A. 3 5.25% $5,267
    CALIBER HOME LOANS, INC. 3 4.13% $6,541
    Evolve Bank & Trust 2 5.56% $8,981
    GUARANTEED RATE AFFINITY, LLC 2 4.44% $6,801
    Flagstar Bank, FSB 2 4.38% $8,303
    The Federal Savings Bank 2 4.81% $16,867
    NBKC BANK 1 5.38% $3,394
    NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $6,847
    North American Savings Bank, F.S.B. 1 7.13% $19,685
    PENTAGON FEDERAL CREDIT UNION 1 3.13% $2,724
    PLAZA HOME MORTGAGE, INC. 1 5.13% $15,185
    Premium Mortgage Corporation 1 4.13% $4,813
    AMERICAN FINANCING CORPORATION 1 3.38% $7,465
    ROYAL UNITED MORTGAGE LLC 1 6.25% $9,065
    SIRVA MORTGAGE, INC. 1 4.63% $12,692
    Carrington Mortgage Services, LLC 1 4.00% $3,375
    CROSSCOUNTRY MORTGAGE, LLC 1 4.56% $13,949
    First Savings Bank 1 5.50% $10,859
    GUARANTEED RATE, INC. 1 3.68% $6,899
    KeyBank 1 5.88% $3,126
    LOANDEPOT.COM, LLC 1 4.99% $9,107
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.75% $6,849
    1ST PRIORITY MORTGAGE, INC. 1 3.63% $9,366

    The top Glens Falls VA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 VA loans originated. Their average total fees are $7,506, which is $2,138 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Glens Falls VA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. ($4,138), Mortgage Research Center, LLC ($5,369), QUICKEN LOANS, LLC ($7,506), .

    The lowest rate Glens Falls VA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. (4.50%), QUICKEN LOANS, LLC (4.52%), Mortgage Research Center, LLC (4.81%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Glens Falls (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 $229,000 (14.6%) $405,911 (10.8%) 0.00 987
    2018-02-01 $233,950 (17.3%) $417,556 (11.6%) 0.00 974
    2018-03-01 $234,900 (10.8%) $416,303 (10.0%) 0.00 957
    2018-04-01 $239,450 (8.9%) $423,829 (9.9%) 0.00 977
    2018-05-01 $247,475 (7.6%) $423,181 (5.7%) 0.00 1,057
    2018-06-01 $249,000 (7.8%) $420,519 (1.5%) 0.00 1,145
    2018-07-01 $248,625 (8.1%) $421,138 (0.0%) 0.00 1,127
    2018-08-01 $249,950 (8.7%) $425,130 (1.2%) 0.00 1,141
    2018-09-01 $249,900 (9.1%) $421,090 (2.4%) 0.00 1,128
    2018-10-01 $249,475 (8.9%) $419,936 (3.2%) 0.00 1,077
    2018-11-01 $241,850 (5.2%) $399,886 (-2.8%) 0.00 992
    2018-12-01 $235,000 (2.2%) $398,182 (-2.9%) 0.00 935
    2019-01-01 $235,225 (2.7%) $405,571 (-0.1%) 0.00 857
    2019-02-01 $239,000 (2.2%) $411,420 (-1.5%) 0.00 810
    2019-03-01 $243,671 (3.7%) $428,684 (3.0%) 0.00 840
    2019-04-01 $249,450 (4.2%) $453,835 (7.1%) 0.00 894
    2019-05-01 $252,450 (2.0%) $442,142 (4.5%) 0.00 884
    2019-06-01 $259,900 (4.4%) $458,352 (9.0%) 0.00 985
    2019-07-01 $259,347 (4.3%) $444,425 (5.5%) 0.00 1,030
    2019-08-01 $259,245 (3.7%) $446,607 (5.1%) 0.00 1,040
    2019-09-01 $259,614 (3.9%) $451,822 (7.3%) 0.00 1,038
    2019-10-01 $254,909 (2.2%) $450,881 (7.4%) 0.00 1,027
    2019-11-01 $257,000 (6.3%) $454,860 (13.8%) 0.00 886
    2019-12-01 $249,900 (6.3%) $433,245 (8.8%) 0.00 817
    2020-01-01 $249,900 (6.2%) $420,474 (3.7%) 0.00 743
    2020-02-01 $247,950 (3.7%) $428,289 (4.1%) 0.00 705
    2020-03-01 $249,250 (2.3%) $433,809 (1.2%) 0.00 687
    2020-04-01 $249,450 (0.0%) $451,891 (-0.4%) 0.00 657
    2020-05-01 $269,900 (6.9%) $483,109 (9.3%) 0.00 647
    2020-06-01 $270,000 (3.9%) $491,279 (7.2%) 0.00 639
    2020-07-01 $274,850 (6.0%) $496,632 (11.8%) 0.00 601
    2020-08-01 $265,000 (2.2%) $481,324 (7.8%) 0.00 561
    2020-09-01 $272,400 (4.9%) $488,107 (8.0%) 0.00 536
    2020-10-01 $278,900 (9.4%) $497,489 (10.3%) 0.00 508
    2020-11-01 $277,250 (7.9%) $533,242 (17.2%) 0.00 452
    2020-12-01 $279,000 (11.6%) $562,232 (29.8%) 0.00 405
    2021-01-01 $279,450 (11.8%) $576,498 (37.1%) 0.00 344
    2021-02-01 $269,225 (8.6%) $602,440 (40.7%) 0.00 297
    2021-03-01 $292,425 (17.3%) $621,905 (43.4%) 0.00 270
    2021-04-01 $283,700 (13.7%) $640,329 (41.7%) 0.00 248
    2021-05-01 $274,700 (1.8%) $594,918 (23.1%) 0.00 274
    2021-06-01 $289,175 (7.1%) $626,647 (27.6%) 0.00 280
    2021-07-01 $282,000 (2.6%) $561,392 (13.0%) 0.00 309
    2021-08-01 $299,450 (13.0%) $560,508 (16.5%) 0.00 305
    2021-09-01 $289,000 (6.1%) $528,485 (8.3%) 0.00 317
    2021-10-01 $275,000 (-1.4%) $515,049 (3.5%) 0.00 313
    2021-11-01 $275,000 (-0.8%) $499,626 (-6.3%) 0.00 289
    2021-12-01 $268,750 (-3.7%) $492,800 (-12.4%) 0.00 243
    2022-01-01 $259,000 (-7.3%) $508,051 (-11.9%) 0.00 212
    2022-02-01 $267,000 (-0.8%) $541,024 (-10.2%) 0.00 205
    2022-03-01 $295,000 (0.9%) $560,455 (-9.9%) 0.00 187
    2022-04-01 $299,900 (5.7%) $539,240 (-15.8%) 0.00 201
    2022-05-01 $298,000 (8.5%) $554,739 (-6.8%) 0.00 257
    2022-06-01 $296,500 (2.5%) $543,245 (-13.3%) 0.00 293
    2022-07-01 $299,000 (6.0%) $507,030 (-9.7%) 0.00 355
    2022-08-01 $299,450 (0.0%) $547,286 (-2.4%) 0.00 355
    2022-09-01 $299,900 (3.8%) $576,478 (9.1%) 0.00 354
    2022-10-01 $299,900 (9.1%) $613,149 (19.1%) 0.00 347
    2022-11-01 $299,900 (9.1%) $654,294 (31.0%) 0.00 338
    2022-12-01 $299,900 (11.6%) $633,322 (28.5%) 0.00 310
    2023-01-01 $292,225 (12.8%) $670,025 (31.9%) 0.00 257
    2023-02-01 $302,500 (13.3%) $678,604 (25.4%) 0.00 231
    2023-03-01 $302,750 (2.6%) $690,229 (23.2%) 0.00 201
    2023-04-01 $299,950 (0.0%) $725,328 (34.5%) 0.00 180
    2023-05-01 $335,725 (12.7%) $753,538 (35.8%) 0.00 186
    2023-06-01 $313,700 (5.8%) $707,713 (30.3%) 0.00 228
    2023-07-01 $336,900 (12.7%) $726,081 (43.2%) 0.00 238
    2023-08-01 $349,900 (16.9%) $627,192 (14.6%) 0.00 269
    2023-09-01 $349,900 (16.7%) $616,603 (7.0%) 0.00 274
    2023-10-01 $349,975 (16.7%) $606,057 (-1.2%) 0.00 281
    Glens Falls's median listing price for 2023-10-01 was $349,975, a difference of $50,075 (16.7%) versus the prior year and $75 versus the prior month.

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

    Glens Falls's average listing price for 2023-10-01 was $606,057, a difference of $-7,092 (-1.2%) versus the prior year and $-10,546 versus the prior month.

    For the 2023-10-01 period, Glens Falls had 281 MLS listings, a difference of 7 listings (3%) versus the prior month and -66 listings (-19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Glens Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,758 sqft
    2018-02-01 0 days 1,741 sqft
    2018-03-01 0 days 1,753 sqft
    2018-04-01 0 days 1,768 sqft
    2018-05-01 0 days 1,776 sqft
    2018-06-01 0 days 1,776 sqft
    2018-07-01 0 days 1,773 sqft
    2018-08-01 0 days 1,776 sqft
    2018-09-01 0 days 1,776 sqft
    2018-10-01 0 days 1,800 sqft
    2018-11-01 0 days 1,792 sqft
    2018-12-01 0 days 1,731 sqft
    2019-01-01 0 days 1,730 sqft
    2019-02-01 0 days 1,749 sqft
    2019-03-01 0 days 1,755 sqft
    2019-04-01 0 days 1,768 sqft
    2019-05-01 0 days 1,656 sqft
    2019-06-01 0 days 1,701 sqft
    2019-07-01 0 days 1,707 sqft
    2019-08-01 0 days 1,719 sqft
    2019-09-01 0 days 1,729 sqft
    2019-10-01 0 days 1,720 sqft
    2019-11-01 0 days 1,740 sqft
    2019-12-01 0 days 1,725 sqft
    2020-01-01 0 days 1,736 sqft
    2020-02-01 0 days 1,716 sqft
    2020-03-01 0 days 1,696 sqft
    2020-04-01 0 days 1,731 sqft
    2020-05-01 0 days 1,758 sqft
    2020-06-01 0 days 1,755 sqft
    2020-07-01 0 days 1,763 sqft
    2020-08-01 0 days 1,752 sqft
    2020-09-01 0 days 1,759 sqft
    2020-10-01 0 days 1,800 sqft
    2020-11-01 0 days 1,823 sqft
    2020-12-01 0 days 1,824 sqft
    2021-01-01 0 days 1,874 sqft
    2021-02-01 0 days 1,812 sqft
    2021-03-01 0 days 1,823 sqft
    2021-04-01 0 days 1,889 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,827 sqft
    2021-07-01 0 days 1,761 sqft
    2021-08-01 0 days 1,752 sqft
    2021-09-01 0 days 1,681 sqft
    2021-10-01 0 days 1,736 sqft
    2021-11-01 0 days 1,728 sqft
    2021-12-01 0 days 1,756 sqft
    2022-01-01 0 days 1,880 sqft
    2022-02-01 0 days 1,722 sqft
    2022-03-01 0 days 1,743 sqft
    2022-04-01 0 days 1,700 sqft
    2022-05-01 0 days 1,596 sqft
    2022-06-01 0 days 1,607 sqft
    2022-07-01 0 days 1,568 sqft
    2022-08-01 0 days 1,591 sqft
    2022-09-01 0 days 1,622 sqft
    2022-10-01 0 days 1,638 sqft
    2022-11-01 0 days 1,643 sqft
    2022-12-01 0 days 1,668 sqft
    2023-01-01 0 days 1,640 sqft
    2023-02-01 0 days 1,662 sqft
    2023-03-01 0 days 1,678 sqft
    2023-04-01 0 days 1,731 sqft
    2023-05-01 0 days 1,741 sqft
    2023-06-01 0 days 1,669 sqft
    2023-07-01 0 days 1,680 sqft
    2023-08-01 0 days 1,674 sqft
    2023-09-01 0 days 1,683 sqft
    2023-10-01 0 days 1,653 sqft
    Glens Falls's median listing age (time on market) for 2023-10-01 was 0 days.

    Glens Falls's median square footage for active listings during the 2023-10-01 period was 1,653 sqft. One year prior, the average listing was 1,638 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.