Seneca Falls VA Loan Rates, Closing Costs & Stats

Seneca 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.

Seneca Falls's 12 lenders originated 19 VA loans during 2023. The total origination value was $3,865,000, with an average VA loan value of $203,421.

Seneca Falls VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Seneca Falls averaged 6.81% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

Seneca Falls's average VA mortgage closing costs are $5,049.

The average rate for the prior week (2024-03-15) was 6.52% and one month ago for the week of 2024-02-16, the average rate was 6.85%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.44%.

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

Seneca 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 Seneca Falls level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage Research Center, LLC 3 6.96% $2,747
QUICKEN LOANS, LLC 3 5.96% $6,712
CARDINAL FINANCIAL 2 6.44% $11,541
NAVY FEDERAL CREDIT UNION 2 7.06% $5,302
PLAZA HOME MORTGAGE, INC. 2 6.31% $6,045
MOVEMENT MORTGAGE, LLC 1 6.63% $10,817
Citizens Bank 1 6.88% $8,168
PARAGON HOME LOANS INC. 1 6.13% $10,559
UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $0
Premium Mortgage Corporation 1 7.00% $8,621
LOANDEPOT.COM, LLC 1 6.25% $10,068
HUNT MORTGAGE CORPORATION 1 7.13% $900

The top Seneca Falls VA lender as defined by loan originations is Mortgage Research Center, LLC, with 3 VA loans originated. Their average total fees are $2,747, which is $3,965 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Seneca Falls VA lenders (with over 10 loans originated) are .

The lowest rate Seneca Falls VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Seneca 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 $141,000 (-2.7%) $190,661 (-22.1%) 0.00 111
2018-02-01 $127,400 (-20.1%) $182,792 (-26.8%) 0.00 104
2018-03-01 $140,450 (-27.8%) $185,775 (-35.6%) 0.00 104
2018-04-01 $166,975 (-16.3%) $220,602 (-14.0%) 0.00 105
2018-05-01 $188,500 (-10.0%) $245,618 (-3.1%) 0.00 110
2018-06-01 $194,450 (-2.5%) $245,373 (-1.7%) 0.00 108
2018-07-01 $202,400 (7.1%) $259,274 (7.0%) 0.00 106
2018-08-01 $190,950 (3.5%) $239,502 (0.9%) 0.00 118
2018-09-01 $179,900 (-1.1%) $233,539 (-3.0%) 0.00 118
2018-10-01 $183,825 (3.1%) $269,077 (16.4%) 0.00 108
2018-11-01 $177,175 (10.8%) $265,506 (17.3%) 0.00 114
2018-12-01 $144,993 (-3.3%) $251,255 (20.2%) 0.00 106
2019-01-01 $139,350 (-1.2%) $252,936 (32.7%) 0.00 103
2019-02-01 $150,475 (18.1%) $261,146 (42.9%) 0.00 92
2019-03-01 $164,429 (17.1%) $262,359 (41.2%) 0.00 88
2019-04-01 $177,179 (6.1%) $261,175 (18.4%) 0.00 87
2019-05-01 $203,650 (8.0%) $272,652 (11.0%) 0.00 93
2019-06-01 $199,900 (2.8%) $302,243 (23.2%) 0.00 91
2019-07-01 $192,450 (-4.9%) $316,909 (22.2%) 0.00 96
2019-08-01 $188,536 (-1.3%) $319,895 (33.6%) 0.00 93
2019-09-01 $186,491 (3.7%) $328,719 (40.8%) 0.00 91
2019-10-01 $185,127 (0.7%) $336,577 (25.1%) 0.00 87
2019-11-01 $175,400 (-1.0%) $327,192 (23.2%) 0.00 79
2019-12-01 $169,200 (16.7%) $294,311 (17.1%) 0.00 75
2020-01-01 $159,900 (14.8%) $270,887 (7.1%) 0.00 66
2020-02-01 $150,750 (0.2%) $261,954 (0.3%) 0.00 71
2020-03-01 $171,200 (4.1%) $292,083 (11.3%) 0.00 77
2020-04-01 $171,200 (-3.4%) $288,625 (10.5%) 0.00 73
2020-05-01 $177,700 (-12.7%) $287,081 (5.3%) 0.00 72
2020-06-01 $184,500 (-7.7%) $316,040 (4.6%) 0.00 57
2020-07-01 $194,450 (1.0%) $331,721 (4.7%) 0.00 52
2020-08-01 $175,000 (-7.2%) $317,628 (-0.7%) 0.00 49
2020-09-01 $172,400 (-7.6%) $318,692 (-3.1%) 0.00 49
2020-10-01 $137,068 (-26.0%) $256,342 (-23.8%) 0.00 51
2020-11-01 $141,909 (-19.1%) $250,352 (-23.5%) 0.00 47
2020-12-01 $134,900 (-20.3%) $242,870 (-17.5%) 0.00 46
2021-01-01 $132,000 (-17.5%) $279,126 (3.0%) 0.00 39
2021-02-01 $130,950 (-13.1%) $308,262 (17.7%) 0.00 29
2021-03-01 $152,400 (-11.0%) $367,607 (25.9%) 0.00 28
2021-04-01 $139,900 (-18.3%) $341,496 (18.3%) 0.00 24
2021-05-01 $154,900 (-12.8%) $348,315 (21.3%) 0.00 24
2021-06-01 $177,450 (-3.8%) $396,036 (25.3%) 0.00 36
2021-07-01 $175,000 (-10.0%) $473,054 (42.6%) 0.00 45
2021-08-01 $198,475 (13.4%) $347,538 (9.4%) 0.00 38
2021-09-01 $214,900 (24.7%) $346,756 (8.8%) 0.00 34
2021-10-01 $203,725 (48.6%) $370,401 (44.5%) 0.00 31
2021-11-01 $205,725 (45.0%) $319,277 (27.5%) 0.00 32
2021-12-01 $167,450 (24.1%) $260,685 (7.3%) 0.00 23
2022-01-01 $124,900 (-5.4%) $189,996 (-31.9%) 0.00 21
2022-02-01 $135,400 (3.4%) $209,335 (-32.1%) 0.00 19
2022-03-01 $145,750 (-4.4%) $196,623 (-46.5%) 0.00 26
2022-04-01 $179,400 (28.2%) $291,045 (-14.8%) 0.00 31
2022-05-01 $219,675 (41.8%) $295,883 (-15.1%) 0.00 28
2022-06-01 $255,950 (44.2%) $379,112 (-4.3%) 0.00 37
2022-07-01 $219,900 (25.7%) $322,280 (-31.9%) 0.00 36
2022-08-01 $157,475 (-20.7%) $303,882 (-12.6%) 0.00 41
2022-09-01 $149,900 (-30.3%) $236,889 (-31.7%) 0.00 36
2022-10-01 $155,900 (-23.5%) $282,258 (-23.8%) 0.00 35
2022-11-01 $158,900 (-22.8%) $333,722 (4.5%) 0.00 37
2022-12-01 $165,900 (-0.9%) $345,439 (32.5%) 0.00 32
2023-01-01 $164,950 (32.1%) $300,018 (57.9%) 0.00 28
2023-02-01 $171,700 (26.8%) $312,691 (49.4%) 0.00 25
2023-03-01 $192,200 (31.9%) $356,878 (81.5%) 0.00 26
2023-04-01 $239,900 (33.7%) $416,195 (43.0%) 0.00 31
2023-05-01 $339,750 (54.7%) $488,846 (65.2%) 0.00 31
2023-06-01 $385,250 (50.5%) $500,950 (32.1%) 0.00 33
2023-07-01 $299,000 (36.0%) $471,683 (46.4%) 0.00 38
2023-08-01 $284,950 (81.0%) $453,279 (49.2%) 0.00 44
2023-09-01 $252,450 (68.4%) $422,675 (78.4%) 0.00 50
2023-10-01 $244,950 (57.1%) $392,434 (39.0%) 0.00 54
2023-11-01 $251,175 (58.1%) $410,087 (22.9%) 0.00 51
2023-12-01 $188,700 (13.7%) $347,044 (0.5%) 0.00 37
2024-01-01 $189,900 (15.1%) $392,155 (30.7%) 0.00 25
2024-02-01 $204,450 (19.1%) $467,857 (49.6%) 0.00 18
Seneca Falls's median listing price for 2024-02-01 was $204,450, a difference of $32,750 (19.1%) versus the prior year and $14,550 versus the prior month.

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

Seneca Falls's average listing price for 2024-02-01 was $467,857, a difference of $155,166 (49.6%) versus the prior year and $75,702 versus the prior month.

For the 2024-02-01 period, Seneca Falls had 18 MLS listings, a difference of -7 listings (-28%) versus the prior month and -7 listings (-28%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Seneca 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 1,750 sqft
2018-02-01 0 days 1,669 sqft
2018-03-01 0 days 1,660 sqft
2018-04-01 0 days 1,712 sqft
2018-05-01 0 days 1,774 sqft
2018-06-01 0 days 1,700 sqft
2018-07-01 0 days 1,848 sqft
2018-08-01 0 days 1,796 sqft
2018-09-01 0 days 1,783 sqft
2018-10-01 0 days 1,746 sqft
2018-11-01 0 days 1,746 sqft
2018-12-01 0 days 1,704 sqft
2019-01-01 0 days 1,701 sqft
2019-02-01 0 days 1,703 sqft
2019-03-01 0 days 1,699 sqft
2019-04-01 0 days 1,699 sqft
2019-05-01 0 days 1,734 sqft
2019-06-01 0 days 1,827 sqft
2019-07-01 0 days 1,754 sqft
2019-08-01 0 days 1,796 sqft
2019-09-01 0 days 1,772 sqft
2019-10-01 0 days 1,753 sqft
2019-11-01 0 days 1,768 sqft
2019-12-01 0 days 1,707 sqft
2020-01-01 0 days 1,681 sqft
2020-02-01 0 days 1,691 sqft
2020-03-01 0 days 1,730 sqft
2020-04-01 0 days 1,760 sqft
2020-05-01 0 days 1,752 sqft
2020-06-01 0 days 1,776 sqft
2020-07-01 0 days 1,970 sqft
2020-08-01 0 days 1,900 sqft
2020-09-01 0 days 1,877 sqft
2020-10-01 0 days 1,792 sqft
2020-11-01 0 days 1,690 sqft
2020-12-01 0 days 1,679 sqft
2021-01-01 0 days 1,792 sqft
2021-02-01 0 days 1,823 sqft
2021-03-01 0 days 1,667 sqft
2021-04-01 0 days 1,665 sqft
2021-05-01 0 days 1,701 sqft
2021-06-01 0 days 1,809 sqft
2021-07-01 0 days 1,820 sqft
2021-08-01 0 days 1,898 sqft
2021-09-01 0 days 1,799 sqft
2021-10-01 0 days 1,885 sqft
2021-11-01 0 days 1,870 sqft
2021-12-01 0 days 1,879 sqft
2022-01-01 0 days 1,733 sqft
2022-02-01 0 days 1,783 sqft
2022-03-01 0 days 1,645 sqft
2022-04-01 0 days 1,602 sqft
2022-05-01 0 days 1,821 sqft
2022-06-01 0 days 1,723 sqft
2022-07-01 0 days 1,616 sqft
2022-08-01 0 days 1,439 sqft
2022-09-01 0 days 1,438 sqft
2022-10-01 0 days 1,530 sqft
2022-11-01 0 days 1,794 sqft
2022-12-01 0 days 1,748 sqft
2023-01-01 0 days 1,469 sqft
2023-02-01 0 days 1,712 sqft
2023-03-01 0 days 1,867 sqft
2023-04-01 0 days 1,913 sqft
2023-05-01 0 days 1,857 sqft
2023-06-01 0 days 1,897 sqft
2023-07-01 0 days 1,888 sqft
2023-08-01 0 days 1,918 sqft
2023-09-01 0 days 1,705 sqft
2023-10-01 0 days 1,670 sqft
2023-11-01 0 days 1,866 sqft
2023-12-01 0 days 1,738 sqft
2024-01-01 0 days 1,926 sqft
2024-02-01 0 days 1,612 sqft
Seneca Falls's median listing age (time on market) for 2024-02-01 was 0 days.

Seneca Falls's median square footage for active listings during the 2024-02-01 period was 1,612 sqft. One year prior, the average listing was 1,712 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.