Glens Falls VA Loan Rates, Closing Costs & Stats

GLENS FALLS, NY

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.67% for the week of 2024-04-12, compared to the national average (all VA variants) of 6.574% for the same period.

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

    The average rate for the prior week (2024-04-05) was 6.42% and one month ago for the week of 2024-03-08, the average rate was 6.25%.

    The average rate one year ago was 5.65%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.57%.

    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
    Glens Falls's median listing price for 2024-03-01 was $349,900, a difference of $47,150 (15.6%) versus the prior year and $14,950 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 2024-03-01 was $710,366, a difference of $20,137 (2.9%) versus the prior year and $25,919 versus the prior month.

    For the 2024-03-01 period, Glens Falls had 218 MLS listings, a difference of 1 listings (0%) versus the prior month and 17 listings (8%) 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 1,657 sqft
    2024-02-01 0 days 1,674 sqft
    2024-03-01 0 days 1,650 sqft
    Glens Falls's median listing age (time on market) for 2024-03-01 was 0 days.

    Glens Falls's median square footage for active listings during the 2024-03-01 period was 1,650 sqft. One year prior, the average listing was 1,678 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.