Glens Falls VA Loan Rates, Closing Costs & Stats

GLENS FALLS, 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.

Glens Falls's 24 lenders originated 94 VA loans during 2023. The total origination value was $23,890,000, with an average VA loan value of $254,149.

Glens Falls VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Glens Falls averaged 5.95% for the week of 2024-10-11, compared to the national average (all VA variants) of 5.854% for the same period.

Glens Falls's average VA mortgage closing costs are $5,536.

The average rate for the prior week (2024-10-04) was 5.52% and one month ago for the week of 2024-09-06, the average rate was 5.71%.

The average rate one year ago was 6.98%.

For refis of the same type during the week of 2024-10-11, the average rate was 5.85%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 15 6.97% $7,485
HOMESTEAD FUNDING CORP. 13 6.68% $5,563
UNITED WHOLESALE MORTGAGE, LLC 11 6.68% $5,789
QUICKEN LOANS, LLC 6 5.89% $10,903
Barrington Bank & Trust Company, N.A. 5 6.85% $5,306
NAVY FEDERAL CREDIT UNION 5 5.75% $9,310
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.08% $5,588
USAA Federal Savings Bank 3 6.71% $10,986
GUARANTEED RATE, INC. 3 6.42% $8,153
SEFCU SERVICES, LLC 3 6.58% $9,421
Glens Falls National Bank and Trust Company 2 6.00% $6,975
HUNT MORTGAGE CORPORATION 2 6.25% $8,390
PLAZA HOME MORTGAGE, INC. 2 6.25% $7,284
Premium Mortgage Corporation 2 6.69% $5,111
Evolve Bank & Trust 2 5.94% $4,412
NORTHERN CREDIT UNION 1 6.63% $8,555
PENNYMAC LOAN SERVICES, LLC 1 6.13% $8,497
The Federal Savings Bank 1 6.25% $10,526
Citizens Bank 1 6.13% $15,696
Flagstar Bank, FSB 1 6.13% $8,614
LOANDEPOT.COM, LLC 1 6.25% $8,351
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $9,910
NEWREZ LLC 1 7.25% $8,589
North American Savings Bank, F.S.B. 1 6.13% $39,369

The top Glens Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 15 VA loans originated. Their average total fees are $7,485, which is $1,922 higher than the next largest lender, HOMESTEAD FUNDING CORP..

The lowest fee Glens Falls VA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. ($5,563), UNITED WHOLESALE MORTGAGE, LLC ($5,789), Mortgage Research Center, LLC ($7,485), .

The lowest rate Glens Falls VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.68%), HOMESTEAD FUNDING CORP. (6.68%), Mortgage Research Center, LLC (6.97%), .


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%) $406,313 (11.1%) 0.00 987
2018-02-01 $234,200 (17.4%) $417,478 (11.7%) 0.00 975
2018-03-01 $234,900 (11.4%) $415,878 (10.0%) 0.00 960
2018-04-01 $239,450 (8.9%) $423,031 (9.7%) 0.00 980
2018-05-01 $246,700 (7.3%) $422,541 (5.6%) 0.00 1,060
2018-06-01 $249,000 (7.6%) $420,023 (1.4%) 0.00 1,147
2018-07-01 $248,475 (8.1%) $420,452 (-0.1%) 0.00 1,129
2018-08-01 $249,925 (8.7%) $424,436 (1.0%) 0.00 1,144
2018-09-01 $249,900 (9.1%) $420,483 (2.3%) 0.00 1,131
2018-10-01 $249,300 (8.7%) $419,158 (2.9%) 0.00 1,080
2018-11-01 $241,825 (5.2%) $399,486 (-3.0%) 0.00 996
2018-12-01 $234,950 (2.2%) $397,818 (-3.1%) 0.00 938
2019-01-01 $235,000 (2.6%) $405,155 (-0.3%) 0.00 860
2019-02-01 $239,000 (2.1%) $411,129 (-1.5%) 0.00 812
2019-03-01 $243,671 (3.7%) $428,517 (3.0%) 0.00 841
2019-04-01 $249,450 (4.2%) $453,835 (7.3%) 0.00 894
2019-05-01 $252,450 (2.3%) $442,236 (4.7%) 0.00 884
2019-06-01 $259,900 (4.4%) $457,560 (8.9%) 0.00 987
2019-07-01 $259,447 (4.4%) $443,689 (5.5%) 0.00 1,032
2019-08-01 $259,245 (3.7%) $445,866 (5.1%) 0.00 1,042
2019-09-01 $259,614 (3.9%) $451,069 (7.3%) 0.00 1,040
2019-10-01 $254,909 (2.3%) $450,131 (7.4%) 0.00 1,029
2019-11-01 $257,450 (6.5%) $453,808 (13.6%) 0.00 889
2019-12-01 $249,900 (6.4%) $432,070 (8.6%) 0.00 820
2020-01-01 $249,900 (6.3%) $419,152 (3.5%) 0.00 746
2020-02-01 $247,950 (3.7%) $427,479 (4.0%) 0.00 707
2020-03-01 $249,900 (2.6%) $432,151 (0.9%) 0.00 693
2020-04-01 $249,600 (0.1%) $450,413 (-0.8%) 0.00 661
2020-05-01 $270,900 (7.3%) $482,256 (9.1%) 0.00 651
2020-06-01 $274,900 (5.8%) $490,255 (7.2%) 0.00 643
2020-07-01 $276,950 (6.8%) $495,966 (11.8%) 0.00 605
2020-08-01 $269,450 (3.9%) $481,511 (8.0%) 0.00 564
2020-09-01 $275,000 (5.9%) $486,254 (7.8%) 0.00 541
2020-10-01 $279,900 (9.8%) $494,126 (9.8%) 0.00 518
2020-11-01 $279,625 (8.6%) $528,361 (16.4%) 0.00 464
2020-12-01 $280,000 (12.0%) $556,209 (28.7%) 0.00 415
2021-01-01 $289,900 (16.0%) $571,168 (36.3%) 0.00 355
2021-02-01 $283,750 (14.4%) $593,764 (38.9%) 0.00 309
2021-03-01 $299,250 (19.8%) $607,954 (40.7%) 0.00 285
2021-04-01 $297,225 (19.1%) $629,185 (39.7%) 0.00 259
2021-05-01 $275,000 (1.5%) $584,969 (21.3%) 0.00 280
2021-06-01 $298,000 (8.4%) $615,367 (25.5%) 0.00 285
2021-07-01 $299,000 (8.0%) $545,946 (10.1%) 0.00 327
2021-08-01 $299,900 (11.3%) $549,634 (14.2%) 0.00 312
2021-09-01 $289,000 (5.1%) $524,574 (7.9%) 0.00 315
2021-10-01 $275,000 (-1.8%) $512,321 (3.7%) 0.00 310
2021-11-01 $275,000 (-1.7%) $495,920 (-6.1%) 0.00 285
2021-12-01 $269,200 (-3.9%) $489,109 (-12.1%) 0.00 239
2022-01-01 $259,000 (-10.7%) $508,738 (-10.9%) 0.00 211
2022-02-01 $264,500 (-6.8%) $541,679 (-8.8%) 0.00 205
2022-03-01 $295,000 (-1.4%) $559,162 (-8.0%) 0.00 186
2022-04-01 $299,450 (0.8%) $539,240 (-14.3%) 0.00 201
2022-05-01 $298,000 (8.4%) $551,723 (-5.7%) 0.00 257
2022-06-01 $294,450 (-1.2%) $537,852 (-12.6%) 0.00 293
2022-07-01 $295,000 (-1.3%) $506,465 (-7.2%) 0.00 355
2022-08-01 $299,675 (-0.1%) $547,939 (-0.3%) 0.00 354
2022-09-01 $299,900 (3.8%) $578,256 (10.2%) 0.00 353
2022-10-01 $299,900 (9.1%) $613,149 (19.7%) 0.00 347
2022-11-01 $299,900 (9.1%) $654,793 (32.0%) 0.00 338
2022-12-01 $299,900 (11.4%) $633,962 (29.6%) 0.00 310
2023-01-01 $289,450 (11.8%) $671,363 (32.0%) 0.00 256
2023-02-01 $302,500 (14.4%) $678,604 (25.3%) 0.00 231
2023-03-01 $302,750 (2.6%) $690,229 (23.4%) 0.00 201
2023-04-01 $299,950 (0.2%) $725,328 (34.5%) 0.00 180
2023-05-01 $335,725 (12.7%) $753,538 (36.6%) 0.00 186
2023-06-01 $314,450 (6.8%) $711,551 (32.3%) 0.00 226
2023-07-01 $336,900 (14.2%) $726,081 (43.4%) 0.00 238
2023-08-01 $349,900 (16.8%) $627,192 (14.5%) 0.00 269
2023-09-01 $349,900 (16.7%) $616,603 (6.6%) 0.00 274
2023-10-01 $349,975 (16.7%) $606,057 (-1.2%) 0.00 281
2023-11-01 $349,450 (16.5%) $630,001 (-3.8%) 0.00 272
2023-12-01 $345,000 (15.0%) $612,156 (-3.4%) 0.00 253
2024-01-01 $338,925 (17.1%) $622,448 (-7.3%) 0.00 225
2024-02-01 $334,950 (10.7%) $684,447 (0.9%) 0.00 217
2024-03-01 $349,900 (15.6%) $710,366 (2.9%) 0.00 218
2024-04-01 $363,950 (21.3%) $727,879 (0.4%) 0.00 232
2024-05-01 $382,000 (13.8%) $722,450 (-4.1%) 0.00 260
2024-06-01 $349,000 (11.0%) $695,022 (-2.3%) 0.00 296
2024-07-01 $354,450 (5.2%) $675,835 (-6.9%) 0.00 341
2024-08-01 $352,450 (0.7%) $657,440 (4.8%) 0.00 386
2024-09-01 $354,950 (1.4%) $639,424 (3.7%) 0.00 403
Glens Falls's median listing price for 2024-09-01 was $354,950, a difference of $5,050 (1.4%) versus the prior year and $2,500 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 2024-09-01 was $639,424, a difference of $22,821 (3.7%) versus the prior year and $-18,016 versus the prior month.

For the 2024-09-01 period, Glens Falls had 403 MLS listings, a difference of 17 listings (4%) versus the prior month and 129 listings (47%) 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 1,762 sqft
2018-02-01 0 days 1,742 sqft
2018-03-01 0 days 1,749 sqft
2018-04-01 0 days 1,767 sqft
2018-05-01 0 days 1,776 sqft
2018-06-01 0 days 1,776 sqft
2018-07-01 0 days 1,772 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 1,706 sqft
2019-08-01 0 days 1,717 sqft
2019-09-01 0 days 1,728 sqft
2019-10-01 0 days 1,717 sqft
2019-11-01 0 days 1,738 sqft
2019-12-01 0 days 1,723 sqft
2020-01-01 0 days 1,736 sqft
2020-02-01 0 days 1,715 sqft
2020-03-01 0 days 1,700 sqft
2020-04-01 0 days 1,736 sqft
2020-05-01 0 days 1,760 sqft
2020-06-01 0 days 1,758 sqft
2020-07-01 0 days 1,769 sqft
2020-08-01 0 days 1,755 sqft
2020-09-01 0 days 1,768 sqft
2020-10-01 0 days 1,800 sqft
2020-11-01 0 days 1,847 sqft
2020-12-01 0 days 1,843 sqft
2021-01-01 0 days 1,888 sqft
2021-02-01 0 days 1,829 sqft
2021-03-01 0 days 1,831 sqft
2021-04-01 0 days 1,889 sqft
2021-05-01 0 days 1,800 sqft
2021-06-01 0 days 1,831 sqft
2021-07-01 0 days 1,761 sqft
2021-08-01 0 days 1,748 sqft
2021-09-01 0 days 1,671 sqft
2021-10-01 0 days 1,728 sqft
2021-11-01 0 days 1,728 sqft
2021-12-01 0 days 1,755 sqft
2022-01-01 0 days 1,888 sqft
2022-02-01 0 days 1,720 sqft
2022-03-01 0 days 1,742 sqft
2022-04-01 0 days 1,708 sqft
2022-05-01 0 days 1,592 sqft
2022-06-01 0 days 1,604 sqft
2022-07-01 0 days 1,574 sqft
2022-08-01 0 days 1,589 sqft
2022-09-01 0 days 1,619 sqft
2022-10-01 0 days 1,636 sqft
2022-11-01 0 days 1,642 sqft
2022-12-01 0 days 1,668 sqft
2023-01-01 0 days 1,638 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
2023-11-01 0 days 1,658 sqft
2023-12-01 0 days 1,658 sqft
2024-01-01 0 days 1,655 sqft
2024-02-01 0 days 1,671 sqft
2024-03-01 0 days 1,639 sqft
2024-04-01 0 days 1,690 sqft
2024-05-01 0 days 1,749 sqft
2024-06-01 0 days 1,650 sqft
2024-07-01 0 days 1,719 sqft
2024-08-01 0 days 1,739 sqft
2024-09-01 0 days 1,729 sqft
Glens Falls's median listing age (time on market) for 2024-09-01 was 0 days.

Glens Falls's median square footage for active listings during the 2024-09-01 period was 1,729 sqft. One year prior, the average listing was 1,683 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.