Elkins Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Elkins averaged 7.3% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.98% and one month ago for the week of 2024-03-14, the average rate was 6.94%.

    Elkins's average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.7%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Elkins 30 Year Fixed Rate 2024-04-18 7.3%
    Elkins 30 Year Fixed Rate Refi 2024-04-18 7.7%
    Elkins 15 Year Fixed Rate 2024-04-18 6.49%
    Elkins 15 Year Fixed Rate Refi 2024-04-18 6.49%
    Elkins 30 Year FHA 2024-04-18 7.06%
    Elkins 30 Year FHA Refi 2024-04-18 6.86%
    Elkins 30 Year USDA 2024-04-18 6.76%
    Elkins 30 Year USDA Refi 2024-04-18 6.86%
    Elkins 30 Year VA 2024-04-18 6.76%
    Elkins 30 Year VA Refi 2024-04-18 6.86%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 10 7.08% $7,174
    The Huntington National Bank 8 6.34% $3,432
    MOVEMENT MORTGAGE, LLC 6 7.24% $4,324
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 8.19% $4,963
    UNITED WHOLESALE MORTGAGE, LLC 3 6.86% $5,068
    The United Federal Credit Union 3 4.00% $2,800
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.31% $5,308
    JPMorgan Chase Bank 1 8.13% $5,359
    LOANDEPOT.COM, LLC 1 6.38% $3,153
    NEWREZ LLC 1 7.88% $6,423
    Northpointe Bank 1 8.00% $3,726
    Summit Community Bank, Inc. 1 6.69% $3,610
    Truist 1 7.13% $8,599
    U.S. Bank 1 5.88% $3,351
    AMERICAN FINANCING CORPORATION 1 6.38% $6,186
    WesBanco 1 5.32% $4,166
    American Mortgage & Equity Consultants, Inc. 1 6.88% $7,427
    CHURCHILL MORTGAGE CORPORATION 1 7.50% $5,728
    City National Bank of West Virginia 1 5.85% $2,394
    Clear Mountain Bank 1 6.88% $3,846
    GUARANTEED RATE, INC. 1 6.88% $4,889
    INTERCOASTAL MORTGAGE COMPANY 1 5.98% $6,312

    Elkins Average Closing Costs & Other Stats

    Elkins, WV's 22 lenders originated 187 loans during 2023. The total origination value was $45,315,000, with an average loan value of $242,326.

    Elkins's average closing costs are $4,632.

    The top Elkins lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 loans originated. Their average total fees are $7,174, which is $3,741 higher than the next largest lender, The Huntington National Bank.

    The lowest fee Elkins lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,174), .

    The lowest rate Elkins lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (7.08%), .

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    Barings Multifamily Capital $16,205,000 n/a 35.8%
    The Huntington National Bank $5,895,000 $4,175,000 -29.2% 9.2%
    QUICKEN LOANS, LLC $4,735,000 $3,850,000 -18.7% 8.5%
    MOVEMENT MORTGAGE, LLC $3,590,000 $2,285,000 -36.4% 5.0%
    Presidential Bank, FSB $1,995,000 n/a 4.4%
    Mortgage Research Center, LLC $1,080,000 $1,920,000 77.8% 4.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,165,000 $1,900,000 63.1% 4.2%
    The United Federal Credit Union $2,915,000 $1,895,000 -35.0% 4.2%
    UNITED WHOLESALE MORTGAGE, LLC $495,000 $1,555,000 214.1% 3.4%
    The Grant County Bank $1,965,000 $1,015,000 -48.3% 2.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $550,000 $595,000 8.2% 1.3%
    Clear Mountain Bank $135,000 $505,000 274.1% 1.1%
    City National Bank of West Virginia $540,000 $430,000 -20.4% 0.9%
    INTERCOASTAL MORTGAGE COMPANY $635,000 $395,000 -37.8% 0.9%
    PENNYMAC LOAN SERVICES, LLC $85,000 $390,000 358.8% 0.9%
    Truist $835,000 $380,000 -54.5% 0.8%
    Flagstar Bank, FSB $430,000 $345,000 -19.8% 0.8%
    North American Savings Bank, F.S.B. $345,000 n/a 0.8%
    LOANDEPOT.COM, LLC $1,495,000 $340,000 -77.3% 0.8%
    First Federal Bank of the Midwest $850,000 $325,000 -61.8% 0.7%
    CROSSCOUNTRY MORTGAGE, LLC $310,000 n/a 0.7%
    Summit Community Bank, Inc. $260,000 n/a 0.6%
    U.S. Bank $255,000 n/a 0.6%
    Northpointe Bank $245,000 n/a 0.5%
    First Community Bank $400,000 $235,000 -41.3% 0.5%
    NFM, INC. $755,000 $230,000 -69.5% 0.5%
    American Mortgage & Equity Consultants, Inc. $225,000 n/a 0.5%
    WesBanco $210,000 n/a 0.5%
    LIBERTY HOME MORTGAGE CORPORATION $205,000 n/a 0.5%
    TIDEWATER MORTGAGE SERVICES, INC. $175,000 n/a 0.4%
    NAVY FEDERAL CREDIT UNION $825,000 $165,000 -80.0% 0.4%
    NEWREZ LLC $165,000 n/a 0.4%
    EVERETT FINANCIAL, INC. $480,000 $145,000 -69.8% 0.3%
    ROYAL UNITED MORTGAGE LLC $95,000 $145,000 52.6% 0.3%
    DAS Acquisition Company, LLC $135,000 n/a 0.3%
    GUARANTEED RATE, INC. $325,000 $135,000 -58.5% 0.3%
    USAA Federal Savings Bank $1,375,000 $125,000 -90.9% 0.3%
    JPMorgan Chase Bank $620,000 $105,000 -83.1% 0.2%
    Paramount Residential Mortgage Group, Inc. $105,000 n/a 0.2%
    21ST MORTGAGE CORPORATION $115,000 $95,000 -17.4% 0.2%
    AMERICAN FINANCING CORPORATION $95,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $95,000 n/a 0.2%
    PENTAGON FEDERAL CREDIT UNION $95,000 n/a 0.2%
    BROKER SOLUTIONS, INC. $75,000 n/a 0.2%
    PNC Bank $405,000 $65,000 -84.0% 0.1%
    Discover Bank $55,000 n/a 0.1%
    ASHLAND Credit Union $45,000 n/a 0.1%
    Carrington Mortgage Services, LLC $45,000 n/a 0.1%
    Service Federal Credit Union $45,000 n/a 0.1%

    Elkins's top lender by overall market share is Barings Multifamily Capital, with 35.8% market share. In second place, with 9.2%, is The Huntington National Bank, having originated $4,175,000 in loans. In third place, with 8.5%, is QUICKEN LOANS, LLC, having originated $3,850,000 in loans. In fourth place, with 5.0%, is MOVEMENT MORTGAGE, LLC, having originated $2,285,000 in loans. In fifth place, with 4.4%, is Presidential Bank, FSB, having originated $1,995,000 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%) $172,143 (-6.3%) 0.00 129
    2018-02-01 $135,450 (-17.0%) $173,362 (-4.0%) 0.00 122
    2018-03-01 $149,500 (-7.6%) $185,205 (1.2%) 0.00 115
    2018-04-01 $159,725 (-0.8%) $192,337 (8.8%) 0.00 121
    2018-05-01 $159,000 (-1.3%) $188,200 (8.9%) 0.00 128
    2018-06-01 $149,950 (-4.7%) $186,614 (11.7%) 0.00 134
    2018-07-01 $160,000 (7.4%) $195,744 (17.5%) 0.00 135
    2018-08-01 $165,975 (12.9%) $199,607 (16.0%) 0.00 133
    2018-09-01 $174,999 (18.6%) $203,814 (18.3%) 0.00 127
    2018-10-01 $179,000 (19.8%) $201,110 (16.7%) 0.00 123
    2018-11-01 $173,650 (21.0%) $196,671 (13.1%) 0.00 118
    2018-12-01 $179,000 (28.8%) $200,288 (15.0%) 0.00 112
    2019-01-01 $179,675 (33.2%) $204,485 (18.8%) 0.00 106
    2019-02-01 $180,975 (33.6%) $208,085 (20.0%) 0.00 104
    2019-03-01 $175,357 (17.3%) $204,152 (10.2%) 0.00 106
    2019-04-01 $170,582 (6.8%) $202,425 (5.3%) 0.00 107
    2019-05-01 $174,300 (9.6%) $203,098 (7.9%) 0.00 110
    2019-06-01 $169,900 (13.3%) $197,069 (5.6%) 0.00 113
    2019-07-01 $164,300 (2.7%) $193,009 (-1.4%) 0.00 116
    2019-08-01 $167,882 (1.2%) $197,598 (-1.0%) 0.00 115
    2019-09-01 $166,655 (-4.8%) $194,703 (-4.5%) 0.00 114
    2019-10-01 $165,836 (-7.4%) $192,773 (-4.2%) 0.00 110
    2019-11-01 $152,500 (-12.2%) $196,175 (-0.3%) 0.00 101
    2019-12-01 $151,250 (-15.5%) $197,058 (-1.6%) 0.00 84
    2020-01-01 $152,500 (-15.1%) $197,439 (-3.5%) 0.00 77
    2020-02-01 $169,000 (-6.6%) $198,229 (-4.7%) 0.00 85
    2020-03-01 $169,225 (-3.5%) $203,058 (-0.5%) 0.00 95
    2020-04-01 $172,400 (1.1%) $205,755 (1.7%) 0.00 90
    2020-05-01 $179,900 (3.2%) $220,050 (8.4%) 0.00 87
    2020-06-01 $189,000 (11.2%) $219,533 (11.4%) 0.00 91
    2020-07-01 $184,450 (12.3%) $219,049 (13.5%) 0.00 91
    2020-08-01 $189,950 (13.2%) $224,272 (13.5%) 0.00 71
    2020-09-01 $176,450 (5.9%) $205,045 (5.3%) 0.00 65
    2020-10-01 $167,350 (0.9%) $206,371 (7.1%) 0.00 72
    2020-11-01 $174,900 (14.7%) $214,231 (9.2%) 0.00 65
    2020-12-01 $184,450 (22.0%) $220,254 (11.8%) 0.00 63
    2021-01-01 $189,900 (24.5%) $230,709 (16.9%) 0.00 55
    2021-02-01 $210,450 (24.5%) $239,711 (20.9%) 0.00 45
    2021-03-01 $192,200 (13.6%) $217,027 (6.9%) 0.00 41
    2021-04-01 $183,975 (6.7%) $199,335 (-3.1%) 0.00 42
    2021-05-01 $174,900 (-2.8%) $189,733 (-13.8%) 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 $175,200 (-7.8%) $204,855 (-8.7%) 0.00 51
    2021-09-01 $177,875 (0.8%) $218,260 (6.4%) 0.00 52
    2021-10-01 $177,450 (6.0%) $214,105 (3.8%) 0.00 50
    2021-11-01 $183,500 (4.9%) $221,731 (3.5%) 0.00 48
    2021-12-01 $160,700 (-12.9%) $189,059 (-14.2%) 0.00 37
    2022-01-01 $169,000 (-11.0%) $191,057 (-17.2%) 0.00 34
    2022-02-01 $166,725 (-20.8%) $200,276 (-16.5%) 0.00 32
    2022-03-01 $172,225 (-10.4%) $204,863 (-5.6%) 0.00 22
    2022-04-01 $205,000 (11.4%) $224,042 (12.4%) 0.00 22
    2022-05-01 $200,525 (14.7%) $225,641 (18.9%) 0.00 29
    2022-06-01 $238,850 (41.8%) $270,211 (38.1%) 0.00 29
    2022-07-01 $219,900 (18.3%) $265,747 (28.9%) 0.00 28
    2022-08-01 $225,725 (28.8%) $294,457 (43.7%) 0.00 32
    2022-09-01 $207,500 (16.7%) $285,955 (31.0%) 0.00 35
    2022-10-01 $205,000 (15.5%) $259,423 (21.2%) 0.00 35
    2022-11-01 $199,950 (9.0%) $249,391 (12.5%) 0.00 38
    2022-12-01 $199,950 (24.4%) $257,220 (36.1%) 0.00 33
    2023-01-01 $192,475 (13.9%) $249,528 (30.6%) 0.00 28
    2023-02-01 $209,925 (25.9%) $238,904 (19.3%) 0.00 29
    2023-03-01 $191,675 (11.3%) $226,040 (10.3%) 0.00 30
    2023-04-01 $199,999 (-2.4%) $237,300 (5.9%) 0.00 18
    2023-05-01 $211,250 (5.4%) $249,647 (10.6%) 0.00 24
    2023-06-01 $241,375 (1.1%) $311,863 (15.4%) 0.00 25
    2023-07-01 $247,200 (12.4%) $331,152 (24.6%) 0.00 27
    2023-08-01 $224,450 (-0.6%) $296,451 (0.7%) 0.00 33
    2023-09-01 $219,500 (5.8%) $290,922 (1.7%) 0.00 34
    2023-10-01 $239,500 (16.8%) $278,300 (7.3%) 0.00 44
    2023-11-01 $224,900 (12.5%) $278,163 (11.5%) 0.00 44
    2023-12-01 $239,999 (20.0%) $298,190 (15.9%) 0.00 38
    2024-01-01 $219,900 (14.3%) $261,339 (4.7%) 0.00 39
    2024-02-01 $218,900 (4.3%) $273,190 (14.4%) 0.00 33
    2024-03-01 $215,900 (12.6%) $275,744 (22.0%) 0.00 35
    Elkins's median listing price for 2024-03-01 was $215,900, a difference of $24,225 (12.6%) versus the prior year and $-3,000 versus the prior month.

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

    Elkins's average listing price for 2024-03-01 was $275,744, a difference of $49,704 (22.0%) versus the prior year and $2,554 versus the prior month.

    For the 2024-03-01 period, Elkins had 35 MLS listings, a difference of 2 listings (6%) versus the prior month and 5 listings (17%) 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 1,814 sqft
    2018-02-01 0 days 1,825 sqft
    2018-03-01 0 days 1,907 sqft
    2018-04-01 0 days 1,982 sqft
    2018-05-01 0 days 1,876 sqft
    2018-06-01 0 days 1,850 sqft
    2018-07-01 0 days 1,900 sqft
    2018-08-01 0 days 1,930 sqft
    2018-09-01 0 days 1,998 sqft
    2018-10-01 0 days 1,993 sqft
    2018-11-01 0 days 1,845 sqft
    2018-12-01 0 days 1,842 sqft
    2019-01-01 0 days 1,838 sqft
    2019-02-01 0 days 1,884 sqft
    2019-03-01 0 days 1,902 sqft
    2019-04-01 0 days 1,810 sqft
    2019-05-01 0 days 1,894 sqft
    2019-06-01 0 days 1,900 sqft
    2019-07-01 0 days 1,897 sqft
    2019-08-01 0 days 1,884 sqft
    2019-09-01 0 days 1,877 sqft
    2019-10-01 0 days 1,873 sqft
    2019-11-01 0 days 1,872 sqft
    2019-12-01 0 days 1,962 sqft
    2020-01-01 0 days 1,944 sqft
    2020-02-01 0 days 1,941 sqft
    2020-03-01 0 days 1,879 sqft
    2020-04-01 0 days 1,991 sqft
    2020-05-01 0 days 1,990 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 1,654 sqft
    2021-09-01 0 days 1,612 sqft
    2021-10-01 0 days 1,605 sqft
    2021-11-01 0 days 1,598 sqft
    2021-12-01 0 days 1,523 sqft
    2022-01-01 0 days 1,800 sqft
    2022-02-01 0 days 1,625 sqft
    2022-03-01 0 days 1,566 sqft
    2022-04-01 0 days 1,604 sqft
    2022-05-01 0 days 1,658 sqft
    2022-06-01 0 days 1,739 sqft
    2022-07-01 0 days 1,903 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
    2023-03-01 0 days 1,828 sqft
    2023-04-01 0 days 1,769 sqft
    2023-05-01 0 days 1,972 sqft
    2023-06-01 0 days 1,936 sqft
    2023-07-01 0 days 1,845 sqft
    2023-08-01 0 days 1,700 sqft
    2023-09-01 0 days 2,055 sqft
    2023-10-01 0 days 1,949 sqft
    2023-11-01 0 days 1,817 sqft
    2023-12-01 0 days 1,848 sqft
    2024-01-01 0 days 1,840 sqft
    2024-02-01 0 days 1,774 sqft
    2024-03-01 0 days 1,716 sqft
    Elkins's median listing age (time on market) for 2024-03-01 was 0 days.

    Elkins's median square footage for active listings during the 2024-03-01 period was 1,716 sqft. One year prior, the average listing was 1,828 sqft.

    Elkins, WV Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 107 $19,115,000 $178,645
    Cash Out Refi 36 $4,820,000 $133,889
    Other 19 $2,665,000 $140,263
    Refi 15 $18,155,000 $1,210,333
    Home Improvement 10 $560,000 $56,000

    Elkins's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 50 $9,180,000 $183,600
    7-8% 47 $7,975,000 $169,681
    Over 8% 43 $3,995,000 $92,907
    5-6% 29 $21,025,000 $725,000
    3-4% 5 $1,315,000 $263,000
    4-5% 4 $500,000 $125,000
    <2.5% 1 $5,000 $5,000
    2.5-3% 1 $305,000 $305,000

    During 2023, Elkins's most frequently originated rate bucket was 6-7%, with 50 originations.

    Loan Sizing (Elkins, WV MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 92 $13,070,000 $142,065
    $100,000 or less 57 $3,685,000 $64,649
    $200k-400k 34 $9,070,000 $266,765
    $Over $1MM 2 $18,200,000 $9,100,000
    $400k-600k 1 $555,000 $555,000
    $600k-1000k 1 $735,000 $735,000

    Elkins's loan sizing saw the bucket of loans from $100k-200k with 92 originations, totaling $13,070,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 89 $14,395,000 $161,742
    60-80% 34 $24,470,000 $719,706
    40-60% 24 $2,780,000 $115,833
    20-40% 23 $1,815,000 $78,913
    Under 20% 8 $420,000 $52,500
    Over 100% 2 $420,000 $210,000

    Elkins's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 89 originations, totaling $14,395,000 in origination value.