Elkins Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Elkins averaged 6.85% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

    The average rate for the prior week (2023-03-16) was 6.83% and one month ago for the week of 2023-02-16, the average rate was 6.85%.

    Elkins's average rate one year ago was 3.8%.

    For refis of the same type during the week of 2023-03-23, the average rate was 6.82%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-23 6.42%
    Elkins 30 Year Fixed Rate 2023-03-23 6.85%
    Elkins 30 Year Fixed Rate Refi 2023-03-23 6.82%
    Elkins 15 Year Fixed Rate 2023-03-23 6.65%
    Elkins 15 Year Fixed Rate Refi 2023-03-23 6.82%
    Elkins 30 Year FHA 2023-03-23 6.2%
    Elkins 30 Year FHA Refi 2023-03-23 6.49%
    Elkins 30 Year USDA 2023-03-23 6.47%
    Elkins 30 Year VA 2023-03-23 6.12%
    Elkins 30 Year VA Refi 2023-03-23 5.9%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Elkins, WV.

    Elkins Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Elkins, WV market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    The Huntington National Bank 13 4.71% $3,816
    QUICKEN LOANS, LLC 12 4.68% $5,768
    INTERCOASTAL MORTGAGE COMPANY 3 3.54% $4,856
    LOANDEPOT.COM, LLC 3 4.25% $3,538
    AMERISAVE MORTGAGE CORPORATION 3 3.79% $7,010
    NFM, INC. 3 5.17% $6,072
    MOVEMENT MORTGAGE, LLC 3 5.31% $4,772
    Wells Fargo Bank 2 4.19% $4,410
    City National Bank of West Virginia 2 3.90% $1,248
    JPMorgan Chase Bank 2 5.38% $4,993
    The United Federal Credit Union 2 4.63% $2,250
    USAA Federal Savings Bank 2 5.19% $4,736
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.62% $5,265
    Heritage Bank 1 6.48% $7,796
    Hometown Lenders, Inc. 1 4.25% $5,575
    First Community Bank 1 5.00% $3,132
    Truist 1 5.13% $9,270
    LAKEVIEW LOAN SERVICING, LLC 1 5.50% $5,148
    Colonial Savings, F.A. 1 6.50% $2,698
    CME Federal Credit Union 1 7.00% $10,089
    Clear Mountain Bank 1 4.63% $3,005
    Peoples Bank 1 5.13% $2,988
    PNC Bank 1 5.88% $4,639
    CALIBER HOME LOANS, INC. 1 4.88% $10,399
    ROYAL UNITED MORTGAGE LLC 1 3.63% $6,646
    S&T Bank 1 5.25% $4,471
    BNC National Bank 1 5.50% $4,510
    Atlantic Coast Mortgage, LLC 1 4.25% $3,096
    Flagstar Bank, FSB 1 3.63% $2,893
    Gateway First Bank 1 6.50% $8,271
    George Mason Mortgage, LLC 1 3.25% $6,378
    GUARANTEED RATE, INC. 1 5.88% $7,354

    Elkins Average Closing Costs & Other Stats

    Elkins, WV's 32 lenders originated 248 loans during 2022. The total origination value was $40,630,000, with an average loan value of $163,831.

    Elkins's average closing costs are $4,477.

    The top Elkins lender as defined by loan originations is The Huntington National Bank, with 13 loans originated. Their average total fees are $3,816, which is $1,952 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Elkins lenders (with over 10 loans originated) are The Huntington National Bank ($3,816), QUICKEN LOANS, LLC ($5,768), .

    The lowest rate Elkins lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.68%), The Huntington National Bank (4.71%), .

    Elkins, WV Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    The Huntington National Bank $7,160,000 $5,895,000 -17.7% 14.5%
    QUICKEN LOANS, LLC $10,310,000 $4,735,000 -54.1% 11.7%
    MOVEMENT MORTGAGE, LLC $5,480,000 $3,590,000 -34.5% 8.8%
    The United Federal Credit Union $2,855,000 $2,915,000 2.1% 7.2%
    The Grant County Bank $925,000 $1,965,000 112.4% 4.8%
    LOANDEPOT.COM, LLC $1,150,000 $1,495,000 30.0% 3.7%
    USAA Federal Savings Bank $1,330,000 $1,375,000 3.4% 3.4%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,830,000 $1,165,000 -36.3% 2.9%
    Mortgage Research Center, LLC $2,185,000 $1,080,000 -50.6% 2.7%
    Wells Fargo Bank $410,000 $885,000 115.9% 2.2%
    First Federal Bank of the Midwest $850,000 $850,000 0.0% 2.1%
    Truist $415,000 $835,000 101.2% 2.1%
    AMERISAVE MORTGAGE CORPORATION $865,000 $825,000 -4.6% 2.0%
    NAVY FEDERAL CREDIT UNION $820,000 $825,000 0.6% 2.0%
    NFM, INC. $1,395,000 $755,000 -45.9% 1.9%
    INTERCOASTAL MORTGAGE COMPANY $370,000 $635,000 71.6% 1.6%
    JPMorgan Chase Bank $670,000 $620,000 -7.5% 1.5%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $305,000 $550,000 80.3% 1.4%
    S&T Bank $545,000 n/a 1.3%
    City National Bank of West Virginia $135,000 $540,000 300.0% 1.3%
    First Guaranty Bank $515,000 n/a 1.3%
    UNITED WHOLESALE MORTGAGE, LLC $1,490,000 $495,000 -66.8% 1.2%
    EVERETT FINANCIAL, INC. $145,000 $480,000 231.0% 1.2%
    Heritage Bank $435,000 n/a 1.1%
    Flagstar Bank, FSB $400,000 $430,000 7.5% 1.1%
    Sierra Pacific Mortgage Company, Inc. $225,000 $410,000 82.2% 1.0%
    PNC Bank $405,000 n/a 1.0%
    First Community Bank $1,100,000 $400,000 -63.6% 1.0%
    Magnolia Bank $235,000 $345,000 46.8% 0.8%
    GUARANTEED RATE, INC. $325,000 n/a 0.8%
    Blue Ridge Bank $320,000 n/a 0.8%
    First Exchange Bank $315,000 n/a 0.8%
    Hometown Lenders, Inc. $455,000 $305,000 -33.0% 0.8%
    Colonial Savings, F.A. $430,000 $295,000 -31.4% 0.7%
    Peoples Bank $260,000 n/a 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $95,000 $255,000 168.4% 0.6%
    CALIBER HOME LOANS, INC. $155,000 $235,000 51.6% 0.6%
    Gateway First Bank $45,000 $235,000 422.2% 0.6%
    George Mason Mortgage, LLC $195,000 n/a 0.5%
    Assurance Financial Group, L.L.C. $185,000 n/a 0.5%
    CME Federal Credit Union $185,000 n/a 0.5%
    Clear Mountain Bank $775,000 $135,000 -82.6% 0.3%
    Community Bank of Parkersburg $135,000 n/a 0.3%
    21ST MORTGAGE CORPORATION $115,000 n/a 0.3%
    FREEDOM MORTGAGE CORPORATION $665,000 $115,000 -82.7% 0.3%
    LAKEVIEW LOAN SERVICING, LLC $800,000 $105,000 -86.9% 0.3%
    Pendleton Community Bank, Inc. $105,000 n/a 0.3%
    ROYAL UNITED MORTGAGE LLC $285,000 $95,000 -66.7% 0.2%
    EQUITY RESOURCES, INC. $85,000 n/a 0.2%
    PENNYMAC LOAN SERVICES, LLC $730,000 $85,000 -88.4% 0.2%
    BNC National Bank $75,000 n/a 0.2%
    Atlantic Coast Mortgage, LLC $65,000 n/a 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $165,000 $55,000 -66.7% 0.1%
    JUSTICE Federal Credit Union $75,000 $55,000 -26.7% 0.1%

    Elkins's top lender by overall market share is The Huntington National Bank, with 14.5% market share. In second place, with 11.7%, is QUICKEN LOANS, LLC, having originated $4,735,000 in loans. In third place, with 8.8%, is MOVEMENT MORTGAGE, LLC, having originated $3,590,000 in loans. In fourth place, with 7.2%, is The United Federal Credit Union, having originated $2,915,000 in loans. In fifth place, with 4.8%, is The Grant County Bank, having originated $1,965,000 in loans.

    Elkins Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Elkins (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 $134,925 (-17.5%) $171,114 (-6.8%) 0.00 131
    2018-02-01 $135,675 (-16.9%) $172,811 (-4.2%) 0.00 123
    2018-03-01 $150,000 (-7.3%) $185,047 (1.2%) 0.00 116
    2018-04-01 $159,950 (-0.7%) $192,129 (8.5%) 0.00 122
    2018-05-01 $159,450 (-0.9%) $188,038 (9.3%) 0.00 129
    2018-06-01 $149,999 (-4.0%) $186,470 (12.2%) 0.00 136
    2018-07-01 $160,250 (7.6%) $195,156 (17.6%) 0.00 138
    2018-08-01 $166,500 (17.0%) $199,456 (16.6%) 0.00 136
    2018-09-01 $174,999 (18.6%) $204,263 (19.9%) 0.00 131
    2018-10-01 $179,000 (19.8%) $201,648 (17.3%) 0.00 126
    2018-11-01 $174,900 (19.8%) $197,123 (13.3%) 0.00 121
    2018-12-01 $179,000 (28.8%) $202,530 (17.0%) 0.00 114
    2019-01-01 $179,900 (33.3%) $205,769 (20.3%) 0.00 107
    2019-02-01 $182,050 (34.2%) $209,383 (21.2%) 0.00 105
    2019-03-01 $177,757 (18.5%) $205,751 (11.2%) 0.00 107
    2019-04-01 $174,900 (9.4%) $204,390 (6.4%) 0.00 106
    2019-05-01 $174,300 (9.3%) $203,130 (8.0%) 0.00 111
    2019-06-01 $169,900 (13.3%) $198,301 (6.3%) 0.00 114
    2019-07-01 $164,450 (2.6%) $194,173 (-0.5%) 0.00 117
    2019-08-01 $168,100 (1.0%) $198,264 (-0.6%) 0.00 116
    2019-09-01 $166,750 (-4.7%) $194,716 (-4.7%) 0.00 116
    2019-10-01 $165,850 (-7.4%) $192,350 (-4.6%) 0.00 112
    2019-11-01 $154,999 (-11.4%) $195,557 (-0.8%) 0.00 103
    2019-12-01 $153,749 (-14.1%) $194,738 (-3.9%) 0.00 87
    2020-01-01 $157,500 (-12.5%) $196,540 (-4.5%) 0.00 80
    2020-02-01 $168,250 (-7.6%) $198,530 (-5.2%) 0.00 88
    2020-03-01 $169,225 (-4.8%) $203,552 (-1.1%) 0.00 97
    2020-04-01 $173,400 (-0.9%) $206,341 (1.0%) 0.00 91
    2020-05-01 $184,450 (5.8%) $220,873 (8.7%) 0.00 88
    2020-06-01 $189,000 (11.2%) $219,533 (10.7%) 0.00 91
    2020-07-01 $184,450 (12.2%) $219,049 (12.8%) 0.00 91
    2020-08-01 $189,950 (13.0%) $224,272 (13.1%) 0.00 71
    2020-09-01 $176,450 (5.8%) $205,045 (5.3%) 0.00 65
    2020-10-01 $167,350 (0.9%) $206,371 (7.3%) 0.00 72
    2020-11-01 $174,900 (12.8%) $214,231 (9.6%) 0.00 65
    2020-12-01 $184,450 (20.0%) $220,254 (13.1%) 0.00 63
    2021-01-01 $189,900 (20.6%) $230,709 (17.4%) 0.00 55
    2021-02-01 $210,450 (25.1%) $239,711 (20.7%) 0.00 45
    2021-03-01 $192,200 (13.6%) $217,027 (6.6%) 0.00 41
    2021-04-01 $183,975 (6.1%) $199,335 (-3.4%) 0.00 42
    2021-05-01 $174,900 (-5.2%) $189,733 (-14.1%) 0.00 37
    2021-06-01 $168,450 (-10.9%) $195,624 (-10.9%) 0.00 37
    2021-07-01 $185,950 (0.8%) $206,136 (-5.9%) 0.00 51
    2021-08-01 $170,950 (-10.0%) $203,739 (-9.2%) 0.00 52
    2021-09-01 $173,375 (-1.7%) $216,104 (5.4%) 0.00 53
    2021-10-01 $169,900 (1.5%) $211,911 (2.7%) 0.00 51
    2021-11-01 $182,000 (4.1%) $219,258 (2.4%) 0.00 49
    2021-12-01 $159,325 (-13.6%) $186,611 (-15.3%) 0.00 38
    2022-01-01 $159,450 (-16.0%) $188,371 (-18.4%) 0.00 35
    2022-02-01 $164,450 (-21.9%) $197,960 (-17.4%) 0.00 33
    2022-03-01 $175,000 (-9.0%) $211,628 (-2.5%) 0.00 23
    2022-04-01 $215,000 (16.9%) $231,080 (15.9%) 0.00 23
    2022-05-01 $200,525 (14.7%) $227,691 (20.0%) 0.00 30
    2022-06-01 $238,850 (41.8%) $270,211 (38.1%) 0.00 29
    2022-07-01 $219,900 (18.3%) $269,271 (30.6%) 0.00 28
    2022-08-01 $225,725 (32.0%) $294,457 (44.5%) 0.00 32
    2022-09-01 $207,500 (19.7%) $285,955 (32.3%) 0.00 35
    2022-10-01 $205,000 (20.7%) $259,423 (22.4%) 0.00 35
    2022-11-01 $199,950 (9.9%) $249,391 (13.7%) 0.00 38
    2022-12-01 $199,950 (25.5%) $257,220 (37.8%) 0.00 33
    2023-01-01 $192,475 (20.7%) $249,528 (32.5%) 0.00 28
    2023-02-01 $209,925 (27.7%) $238,904 (20.7%) 0.00 29
    Elkins's median listing price for 2023-02-01 was $209,925, a difference of $45,475 (27.7%) versus the prior year and $17,450 versus the prior month.

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

    Elkins's average listing price for 2023-02-01 was $238,904, a difference of $40,944 (20.7%) versus the prior year and $-10,624 versus the prior month.

    For the 2023-02-01 period, Elkins had 29 MLS listings, a difference of 1 listings (4%) versus the prior month and -4 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elkins (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,801 sqft
    2018-02-01 0 days 1,808 sqft
    2018-03-01 0 days 1,904 sqft
    2018-04-01 0 days 1,969 sqft
    2018-05-01 0 days 1,851 sqft
    2018-06-01 0 days 1,846 sqft
    2018-07-01 0 days 1,897 sqft
    2018-08-01 0 days 1,930 sqft
    2018-09-01 0 days 1,998 sqft
    2018-10-01 0 days 1,998 sqft
    2018-11-01 0 days 1,848 sqft
    2018-12-01 0 days 1,848 sqft
    2019-01-01 0 days 1,844 sqft
    2019-02-01 0 days 1,951 sqft
    2019-03-01 0 days 1,920 sqft
    2019-04-01 0 days 1,849 sqft
    2019-05-01 0 days 1,908 sqft
    2019-06-01 0 days 1,910 sqft
    2019-07-01 0 days 1,910 sqft
    2019-08-01 0 days 1,888 sqft
    2019-09-01 0 days 1,879 sqft
    2019-10-01 0 days 1,873 sqft
    2019-11-01 0 days 1,836 sqft
    2019-12-01 0 days 1,921 sqft
    2020-01-01 0 days 1,934 sqft
    2020-02-01 0 days 1,900 sqft
    2020-03-01 0 days 1,813 sqft
    2020-04-01 0 days 1,942 sqft
    2020-05-01 0 days 1,982 sqft
    2020-06-01 0 days 1,826 sqft
    2020-07-01 0 days 1,797 sqft
    2020-08-01 0 days 1,924 sqft
    2020-09-01 0 days 1,767 sqft
    2020-10-01 0 days 1,842 sqft
    2020-11-01 0 days 1,906 sqft
    2020-12-01 0 days 1,757 sqft
    2021-01-01 0 days 1,776 sqft
    2021-02-01 0 days 1,901 sqft
    2021-03-01 0 days 1,663 sqft
    2021-04-01 0 days 1,649 sqft
    2021-05-01 0 days 1,650 sqft
    2021-06-01 0 days 1,648 sqft
    2021-07-01 0 days 1,862 sqft
    2021-08-01 0 days 1,651 sqft
    2021-09-01 0 days 1,599 sqft
    2021-10-01 0 days 1,595 sqft
    2021-11-01 0 days 1,572 sqft
    2021-12-01 0 days 1,499 sqft
    2022-01-01 0 days 1,765 sqft
    2022-02-01 0 days 1,599 sqft
    2022-03-01 0 days 1,572 sqft
    2022-04-01 0 days 1,640 sqft
    2022-05-01 0 days 1,672 sqft
    2022-06-01 0 days 1,739 sqft
    2022-07-01 0 days 1,936 sqft
    2022-08-01 0 days 1,957 sqft
    2022-09-01 0 days 1,814 sqft
    2022-10-01 0 days 1,773 sqft
    2022-11-01 0 days 1,728 sqft
    2022-12-01 0 days 1,749 sqft
    2023-01-01 0 days 1,712 sqft
    2023-02-01 0 days 1,739 sqft
    Elkins's median listing age (time on market) for 2023-02-01 was 0 days.

    Elkins's median square footage for active listings during the 2023-02-01 period was 1,739 sqft. One year prior, the average listing was 1,599 sqft.

    Elkins, WV Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 138 $25,310,000 $183,406
    Cash Out Refi 61 $9,105,000 $149,262
    Refi 27 $4,485,000 $166,111
    Home Improvement 15 $1,075,000 $71,667
    Other 7 $655,000 $93,571

    Elkins's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 58 $9,470,000 $163,276
    4-5% 48 $7,790,000 $162,292
    5-6% 47 $8,075,000 $171,809
    6-7% 28 $4,520,000 $161,429
    2.5-3% 27 $5,375,000 $199,074
    Over 8% 9 $715,000 $79,444
    7-8% 9 $1,205,000 $133,889
    <2.5% 3 $445,000 $148,333

    During 2022, Elkins's most frequently originated rate bucket was 3-4%, with 58 originations.

    Loan Sizing (Elkins, WV MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 120 $17,410,000 $145,083
    $100,000 or less 69 $4,645,000 $67,319
    $200k-400k 49 $13,335,000 $272,143
    $400k-600k 8 $3,770,000 $471,250
    $600k-1000k 2 $1,470,000 $735,000

    Elkins's loan sizing saw the bucket of loans from $100k-200k with 120 originations, totaling $17,410,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 117 $22,275,000 $190,385
    60-80% 58 $9,480,000 $163,448
    40-60% 21 $2,915,000 $138,810
    20-40% 20 $1,770,000 $88,500
    Under 20% 8 $270,000 $33,750
    Over 100% 3 $535,000 $178,333

    Elkins's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 117 originations, totaling $22,275,000 in origination value.