Elkins Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Elkins averaged
6.86%
for the week of 2025-05-08, compared to the national average of
6.76% for the same period.
The average rate for the prior week (2025-05-01) was
6.76% and
one month ago for the week of 2025-04-03, the
average rate was 6.64%.
Elkins's average rate one year ago was 7.32%.
For refis of the same type during the week of 2025-05-08, the average rate
was 6.66%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-05-08 | 6.76% |
| Elkins 30 Year Fixed Rate | 2025-05-08 | 6.86% |
| Elkins 30 Year Fixed Rate Refi | 2025-05-08 | 6.66% |
| Elkins 15 Year Fixed Rate | 2025-05-08 | 5.69% |
| Elkins 15 Year Fixed Rate Refi | 2025-05-08 | 6.39% |
| Elkins 30 Year FHA | 2025-05-08 | 6.38% |
| Elkins 30 Year FHA Refi | 2025-05-08 | 6.48% |
| Elkins 30 Year USDA | 2025-05-08 | 6.57% |
| Elkins 30 Year USDA Refi | 2025-05-08 | 6.67% |
| Elkins 30 Year VA | 2025-05-08 | 6.57% |
| Elkins 30 Year VA Refi | 2025-05-08 | 6.17% |
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.).
Elkins Average Closing Costs & Other Stats
Elkins, WV's 25 lenders originated 210
loans during 2024. The total origination value was $33,440,000, with an average loan value of
$159,238.
Elkins's average closing costs are $4,811.
The top Elkins lender as defined by loan originations is QUICKEN LOANS, LLC, with
11 loans originated. Their average total fees are
$5,871, which is $1,849
higher than the next largest lender,
The Huntington National Bank.
The lowest fee Elkins lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($5,871), .
The lowest rate Elkins lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.94%), .
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $3,850,000 | $4,415,000 | 14.7% | 13.2% |
| The Huntington National Bank | $4,175,000 | $4,030,000 | -3.5% | 12.1% |
| MOVEMENT MORTGAGE, LLC | $2,285,000 | $3,995,000 | 74.8% | 11.9% |
| NAVY FEDERAL CREDIT UNION | $165,000 | $2,530,000 | 1,433.3% | 7.6% |
| Mortgage Research Center, LLC | $1,920,000 | $2,060,000 | 7.3% | 6.2% |
| The Grant County Bank | $1,015,000 | $2,020,000 | 99.0% | 6.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,900,000 | $1,985,000 | 4.5% | 5.9% |
| Clear Mountain Bank | $505,000 | $1,525,000 | 202.0% | 4.6% |
| NEWREZ LLC | $165,000 | $1,405,000 | 751.5% | 4.2% |
| The Federal Savings Bank | $600,000 | n/a | 1.8% | |
| LOANDEPOT.COM, LLC | $340,000 | $590,000 | 73.5% | 1.8% |
| U.S. Bank | $255,000 | $565,000 | 121.6% | 1.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,555,000 | $470,000 | -69.8% | 1.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $455,000 | n/a | 1.4% | |
| Presidential Bank, FSB | $1,995,000 | $405,000 | -79.7% | 1.2% |
| PNC Bank | $65,000 | $335,000 | 415.4% | 1.0% |
| Fifth Third Bank | $295,000 | n/a | 0.9% | |
| Guardian Savings Bank, A Federal Savings Bank | $295,000 | n/a | 0.9% | |
| Paramount Residential Mortgage Group, Inc. | $105,000 | $265,000 | 152.4% | 0.8% |
| PENNYMAC LOAN SERVICES, LLC | $390,000 | $260,000 | -33.3% | 0.8% |
| Alcova Mortgage LLC | $245,000 | n/a | 0.7% | |
| BROKER SOLUTIONS, INC. | $75,000 | $245,000 | 226.7% | 0.7% |
| Flagstar Bank, FSB | $345,000 | $235,000 | -31.9% | 0.7% |
| Truist | $380,000 | $230,000 | -39.5% | 0.7% |
| Equity Prime Mortgage LLC | $225,000 | n/a | 0.7% | |
| NBKC BANK | $225,000 | n/a | 0.7% | |
| WesBanco | $210,000 | $215,000 | 2.4% | 0.6% |
| MYCUMORTGAGE, LLC | $205,000 | n/a | 0.6% | |
| CHURCHILL MORTGAGE CORPORATION | $95,000 | $195,000 | 105.3% | 0.6% |
| HOMESIDE FINANCIAL, LLC | $195,000 | n/a | 0.6% | |
| JPMorgan Chase Bank | $105,000 | $180,000 | 71.4% | 0.5% |
| USAA Federal Savings Bank | $125,000 | $175,000 | 40.0% | 0.5% |
| BETTER MORTGAGE CORPORATION | $155,000 | n/a | 0.5% | |
| Discover Bank | $55,000 | $155,000 | 181.8% | 0.5% |
| Farm Credit of the Virginias, ACA | $155,000 | n/a | 0.5% | |
| JUSTICE Federal Credit Union | $155,000 | n/a | 0.5% | |
| SOUTHWEST STAGE FUNDING, LLC | $145,000 | n/a | 0.4% | |
| AMERICAN FINANCING CORPORATION | $95,000 | $135,000 | 42.1% | 0.4% |
| Ixonia Bank | $135,000 | n/a | 0.4% | |
| Pendleton Community Bank, Inc. | $125,000 | n/a | 0.4% | |
| Atlantic Union Bank | $105,000 | n/a | 0.3% | |
| HOMESPIRE MORTGAGE CORPORATION | $95,000 | n/a | 0.3% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $595,000 | $95,000 | -84.0% | 0.3% |
| City National Bank of West Virginia | $430,000 | $90,000 | -79.1% | 0.3% |
| Wells Fargo Bank | $85,000 | n/a | 0.3% | |
| ASHLAND Credit Union | $45,000 | $75,000 | 66.7% | 0.2% |
| PHH Mortgage Corporation | $75,000 | n/a | 0.2% | |
| Clearview Federal Credit Union | $65,000 | n/a | 0.2% | |
| ZILLOW HOME LOANS, LLC | $65,000 | n/a | 0.2% | |
| Deere Employees Credit Union | $55,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $145,000 | $55,000 | -62.1% | 0.2% |
| FINANCE OF AMERICA REVERSE LLC | $25,000 | n/a | 0.1% |
Elkins's top lender by overall market share is QUICKEN LOANS, LLC, with 13.2% market share. In second place, with 12.1%, is The Huntington National Bank, having originated $4,030,000 in loans. In third place, with 11.9%, is MOVEMENT MORTGAGE, LLC, having originated $3,995,000 in loans. In fourth place, with 7.6%, is NAVY FEDERAL CREDIT UNION, having originated $2,530,000 in loans. In fifth place, with 6.2%, is Mortgage Research Center, LLC, having originated $2,060,000 in loans.
Elkins, WV Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 128 | $24,020,000 | $187,656 |
| Cash Out Refi | 36 | $4,680,000 | $130,000 |
| Refi | 19 | $2,695,000 | $141,842 |
| Home Improvement | 14 | $810,000 | $57,857 |
| Other | 13 | $1,235,000 | $95,000 |
Elkins's most frequently cited loan purpose was Home Purchase, with 128 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% | 73 | $13,245,000 | $181,438 |
| Over 8% | 55 | $5,175,000 | $94,091 |
| 7-8% | 37 | $6,425,000 | $173,649 |
| 5-6% | 34 | $6,450,000 | $189,706 |
During 2024, Elkins's most frequently originated rate bucket was 6-7%, with 73 originations.
Loan Sizing (Elkins, WV MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 87 | $13,095,000 | $150,517 |
| $100,000 or less | 73 | $4,645,000 | $63,630 |
| $200k-400k | 41 | $10,435,000 | $254,512 |
| $400k-600k | 7 | $3,475,000 | $496,429 |
| $600k-1000k | 2 | $1,790,000 | $895,000 |
Elkins's loan sizing saw the bucket of loans from $100k-200k with 87 originations, totaling $13,095,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 103 | $19,365,000 | $188,010 |
| 20-40% | 28 | $1,990,000 | $71,071 |
| 60-80% | 28 | $5,200,000 | $185,714 |
| 40-60% | 23 | $3,105,000 | $135,000 |
| Under 20% | 12 | $510,000 | $42,500 |
| Over 100% | 3 | $565,000 | $188,333 |
Elkins's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 103 originations, totaling $19,365,000 in origination value.