Gloversville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gloversville averaged
6.94%
for the week of 2023-11-30, compared to the national average of
7.22% for the same period.
The average rate for the prior week (2023-11-22) was
6.91% and
one month ago for the week of 2023-10-26, the
average rate was 7.71%.
Gloversville's average rate one year ago was 6.6%.
For refis of the same type during the week of 2023-11-30, the average rate
was 7.12%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-11-30 | 7.22% |
Gloversville 30 Year Fixed Rate | 2023-11-30 | 6.94% |
Gloversville 30 Year Fixed Rate Refi | 2023-11-30 | 7.12% |
Gloversville 15 Year Fixed Rate | 2023-11-30 | 6.56% |
Gloversville 15 Year Fixed Rate Refi | 2023-11-30 | 6.96% |
Gloversville 30 Year FHA | 2023-11-30 | 6.31% |
Gloversville 30 Year FHA Refi | 2023-11-30 | 6.85% |
Gloversville 30 Year USDA | 2023-11-30 | 7.1% |
Gloversville 30 Year USDA Refi | 2023-11-30 | 7.2% |
Gloversville 30 Year VA | 2023-11-30 | 6.97% |
Gloversville 30 Year VA Refi | 2023-11-30 | 6.77% |
Gloversville 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 Gloversville, NY 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.).
Gloversville Average Closing Costs & Other Stats
Gloversville, NY's 63 lenders originated 1,072
loans during 2022. The total origination value was $173,530,000, with an average loan value of
$161,875.
Gloversville's average closing costs are $4,555.
The top Gloversville lender as defined by loan originations is HOMESTEAD FUNDING CORP., with
65 loans originated. Their average total fees are
$3,685, which is $2,538
higher than the next largest lender,
Community Bank.
The lowest fee Gloversville lenders (with over 10 loans originated) are
Community Bank ($1,147), TrustCo Bank ($2,185), KeyBank ($3,071), NBT Bank ($3,253) and SEFCU SERVICES, LLC ($3,326).
The lowest rate Gloversville lenders (with over 10 loans originated) are
NBT Bank (4.07%), CCFCU FUNDING, LLC (4.28%), SEFCU SERVICES, LLC (4.40%), KeyBank (4.49%) and TrustCo Bank (4.54%).
Gloversville, NY 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 |
---|---|---|---|---|
HOMESTEAD FUNDING CORP. | $28,625,000 | $22,510,000 | -21.4% | 13.0% |
Community Bank | $9,960,000 | $16,720,000 | 67.9% | 9.6% |
QUICKEN LOANS, LLC | $25,125,000 | $9,425,000 | -62.5% | 5.4% |
KeyBank | $11,305,000 | $7,960,000 | -29.6% | 4.6% |
HOME POINT FINANCIAL CORPORATION | $11,385,000 | $7,675,000 | -32.6% | 4.4% |
NBT Bank | $15,130,000 | $7,625,000 | -49.6% | 4.4% |
SEFCU SERVICES, LLC | $12,080,000 | $7,400,000 | -38.7% | 4.3% |
SUNMARK FEDERAL CREDIT UNION | $12,100,000 | $6,765,000 | -44.1% | 3.9% |
The National Bank of Coxsackie | $4,930,000 | $6,590,000 | 33.7% | 3.8% |
STATE EMPLOYEES FEDERAL CREDIT UNION | $4,655,000 | $4,250,000 | -8.7% | 2.4% |
CCFCU FUNDING, LLC | $4,820,000 | $4,215,000 | -12.6% | 2.4% |
1ST PRIORITY MORTGAGE, INC. | $4,790,000 | $3,945,000 | -17.6% | 2.3% |
UNITED WHOLESALE MORTGAGE, LLC | $6,180,000 | $3,860,000 | -37.5% | 2.2% |
TrustCo Bank | $4,180,000 | $3,765,000 | -9.9% | 2.2% |
M&T Bank | $2,000,000 | $3,430,000 | 71.5% | 2.0% |
Premium Mortgage Corporation | $4,450,000 | $3,340,000 | -24.9% | 1.9% |
Citizens Bank | $3,780,000 | $3,315,000 | -12.3% | 1.9% |
PLAZA HOME MORTGAGE, INC. | $2,285,000 | $2,690,000 | 17.7% | 1.6% |
Mortgage Research Center, LLC | $1,310,000 | $2,420,000 | 84.7% | 1.4% |
NAVY FEDERAL CREDIT UNION | $1,500,000 | $2,210,000 | 47.3% | 1.3% |
CALIBER HOME LOANS, INC. | $5,545,000 | $2,070,000 | -62.7% | 1.2% |
Mr. Cooper ( Nationstar Mortgage ) | $1,500,000 | $2,015,000 | 34.3% | 1.2% |
AMERICAN FINANCIAL RESOURCES, INC. | $1,710,000 | $1,865,000 | 9.1% | 1.1% |
FIRST NEW YORK | $1,415,000 | $1,800,000 | 27.2% | 1.0% |
Bank of America | $835,000 | $1,700,000 | 103.6% | 1.0% |
CAPITAL COMMUNICATIONS Federal Credit Union | $1,560,000 | $1,580,000 | 1.3% | 0.9% |
Flagstar Bank, FSB | $2,955,000 | $1,475,000 | -50.1% | 0.8% |
Wells Fargo Bank | $4,220,000 | $1,305,000 | -69.1% | 0.8% |
FREEDOM MORTGAGE CORPORATION | $2,025,000 | $1,265,000 | -37.5% | 0.7% |
Ballston Spa National Bank | $1,445,000 | $1,195,000 | -17.3% | 0.7% |
MOVEMENT MORTGAGE, LLC | $645,000 | $1,105,000 | 71.3% | 0.6% |
Saratoga National Bank and Trust Company | $1,185,000 | $1,005,000 | -15.2% | 0.6% |
LOANDEPOT.COM, LLC | $3,210,000 | $990,000 | -69.2% | 0.6% |
Chemung Canal Trust Company | $720,000 | $895,000 | 24.3% | 0.5% |
AMERICAN FINANCING CORPORATION | $405,000 | $865,000 | 113.6% | 0.5% |
NEWREZ LLC | $3,490,000 | $820,000 | -76.5% | 0.5% |
Quontic Bank | $135,000 | $750,000 | 455.6% | 0.4% |
MEMBERS 1ST FEDERAL CREDIT UNION | $745,000 | n/a | 0.4% | |
ROYAL UNITED MORTGAGE LLC | $650,000 | $740,000 | 13.8% | 0.4% |
CROSSCOUNTRY MORTGAGE, LLC | $1,730,000 | $695,000 | -59.8% | 0.4% |
Glens Falls National Bank and Trust Company | $300,000 | $695,000 | 131.7% | 0.4% |
Evolve Bank & Trust | $675,000 | n/a | 0.4% | |
Morgan Stanley Private Bank | $655,000 | n/a | 0.4% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $75,000 | $580,000 | 673.3% | 0.3% |
MLB RESIDENTIAL LENDING, LLC | $190,000 | $555,000 | 192.1% | 0.3% |
Farm Credit East, ACA | $1,355,000 | $535,000 | -60.5% | 0.3% |
First National Bank of Scotia | $1,145,000 | $495,000 | -56.8% | 0.3% |
21ST MORTGAGE CORPORATION | $290,000 | $480,000 | 65.5% | 0.3% |
Carrington Mortgage Services, LLC | $1,045,000 | $480,000 | -54.1% | 0.3% |
TEACHERS | $470,000 | n/a | 0.3% | |
Barrington Bank & Trust Company, N.A. | $535,000 | $445,000 | -16.8% | 0.3% |
Bethpage Federal Credit Union | $360,000 | $350,000 | -2.8% | 0.2% |
GPO Federal Credit Union | $385,000 | $345,000 | -10.4% | 0.2% |
HUNT MORTGAGE CORPORATION | $345,000 | n/a | 0.2% | |
Adirondack Bank | $340,000 | n/a | 0.2% | |
JPMorgan Chase Bank | $1,420,000 | $335,000 | -76.4% | 0.2% |
Valley National Bank | $325,000 | n/a | 0.2% | |
Centennial Bank | $315,000 | n/a | 0.2% | |
COMMUNITY RESOURCE FEDERAL CREDIT UNION | $295,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $745,000 | $295,000 | -60.4% | 0.2% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $620,000 | $295,000 | -52.4% | 0.2% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $290,000 | n/a | 0.2% | |
USAA Federal Savings Bank | $695,000 | $290,000 | -58.3% | 0.2% |
LENDINGHOME FUNDING CORPORATION | $275,000 | n/a | 0.2% | |
PREMIA MORTGAGE, LLC | $275,000 | n/a | 0.2% | |
The Federal Savings Bank | $195,000 | $275,000 | 41.0% | 0.2% |
AMERICU Credit Union | $800,000 | $270,000 | -66.3% | 0.2% |
CONTOUR MORTGAGE CORPORATION | $280,000 | $265,000 | -5.4% | 0.2% |
Bank of Richmondville | $255,000 | n/a | 0.1% | |
Equity Prime Mortgage LLC | $165,000 | $250,000 | 51.5% | 0.1% |
Berkshire Bank | $1,120,000 | $245,000 | -78.1% | 0.1% |
HUDSON VALLEY CREDIT UNION | $580,000 | $245,000 | -57.8% | 0.1% |
FINANCE OF AMERICA MORTGAGE LLC | $225,000 | n/a | 0.1% | |
HUDSON RIVER COMMUNITY | $205,000 | n/a | 0.1% | |
Santander Bank, N.A. | $255,000 | $205,000 | -19.6% | 0.1% |
TOTAL MORTGAGE SERVICES, LLC | $205,000 | n/a | 0.1% | |
Heritage Bank | $195,000 | n/a | 0.1% | |
RESIDENTIAL HOME FUNDING CORP. | $195,000 | n/a | 0.1% | |
TCT | $485,000 | $195,000 | -59.8% | 0.1% |
CORNING | $85,000 | $190,000 | 123.5% | 0.1% |
LIMA ONE CAPITAL, LLC | $65,000 | $185,000 | 184.6% | 0.1% |
VELOCITY COMMERCIAL CAPITAL, LLC | $185,000 | n/a | 0.1% | |
Empower Federal Credit Union | $880,000 | $180,000 | -79.5% | 0.1% |
HARTFORD FUNDING, LTD. | $145,000 | $175,000 | 20.7% | 0.1% |
HSBC BANK USA, NATIONAL ASSOCIATION | $205,000 | $165,000 | -19.5% | 0.1% |
Nations Lending Corporation | $165,000 | n/a | 0.1% | |
PENTAGON FEDERAL CREDIT UNION | $105,000 | $165,000 | 57.1% | 0.1% |
The Bank of Greene County | $165,000 | n/a | 0.1% | |
FIRST CREDIT CORPORATION OF NEW YORK, INC. | $115,000 | $150,000 | 30.4% | 0.1% |
BETTER MORTGAGE CORPORATION | $620,000 | $145,000 | -76.6% | 0.1% |
Magnolia Bank | $215,000 | $145,000 | -32.6% | 0.1% |
FIRST SOURCE | $145,000 | $140,000 | -3.4% | 0.1% |
First National Bank of America | $135,000 | n/a | 0.1% | |
LAND HOME FINANCIAL SERVICES, INC. | $75,000 | $135,000 | 80.0% | 0.1% |
PENNYMAC LOAN SERVICES, LLC | $135,000 | n/a | 0.1% | |
ATHAS CAPITAL GROUP, INC. | $125,000 | n/a | 0.1% | |
Hometown Equity Mortgage, LLC | $125,000 | n/a | 0.1% | |
Citibank | $225,000 | $115,000 | -48.9% | 0.1% |
RELIANCE FIRST CAPITAL, LLC | $765,000 | $115,000 | -85.0% | 0.1% |
ABSOLUTE HOME MORTGAGE CORPORATION | $105,000 | n/a | 0.1% | |
ALLIED MORTGAGE GROUP, INC. | $225,000 | $105,000 | -53.3% | 0.1% |
SILVER HILL FUNDING, LLC | $105,000 | n/a | 0.1% | |
UNITED NORTHERN MORTGAGE BANKERS LIMITED | $105,000 | n/a | 0.1% | |
Webster Bank | $105,000 | n/a | 0.1% | |
CMG MORTGAGE, INC. | $95,000 | n/a | 0.1% | |
GHS Federal Credit Union | $95,000 | n/a | 0.1% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $330,000 | $75,000 | -77.3% | 0.0% |
NP, Inc. | $410,000 | $75,000 | -81.7% | 0.0% |
AMERICAN ADVISORS GROUP | $70,000 | n/a | 0.0% | |
TEG Federal Credit Union | $65,000 | n/a | 0.0% | |
Discover Bank | $295,000 | $45,000 | -84.7% | 0.0% |
Municipal Credit Union | $25,000 | n/a | 0.0% | |
Service Federal Credit Union | $25,000 | n/a | 0.0% |
Gloversville's top lender by overall market share is HOMESTEAD FUNDING CORP., with 13.0% market share. In second place, with 9.6%, is Community Bank, having originated $16,720,000 in loans. In third place, with 5.4%, is QUICKEN LOANS, LLC, having originated $9,425,000 in loans. In fourth place, with 4.6%, is KeyBank, having originated $7,960,000 in loans. In fifth place, with 4.4%, is HOME POINT FINANCIAL CORPORATION, having originated $7,675,000 in loans.
Gloversville, NY Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 596 | $109,230,000 | $183,272 |
Cash Out Refi | 154 | $27,910,000 | $181,234 |
Refi | 137 | $21,845,000 | $159,453 |
Home Improvement | 129 | $9,405,000 | $72,907 |
Other | 56 | $5,140,000 | $91,786 |
Gloversville's most frequently cited loan purpose was Home Purchase, with 596 originations. The 2nd most popular reason was Cash Out Refi, with 154 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 263 | $44,295,000 | $168,422 |
5-6% | 255 | $42,505,000 | $166,686 |
4-5% | 196 | $35,140,000 | $179,286 |
6-7% | 120 | $16,580,000 | $138,167 |
<2.5% | 62 | $7,480,000 | $120,645 |
2.5-3% | 53 | $9,915,000 | $187,075 |
7-8% | 32 | $3,430,000 | $107,188 |
Over 8% | 21 | $1,445,000 | $68,810 |
During 2022, Gloversville's most frequently originated rate bucket was 3-4%, with 263 originations.
Loan Sizing (Gloversville, NY MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 451 | $64,365,000 | $142,716 |
$100,000 or less | 355 | $23,295,000 | $65,620 |
$200k-400k | 220 | $56,440,000 | $256,545 |
$400k-600k | 32 | $15,360,000 | $480,000 |
$600k-1000k | 9 | $6,395,000 | $710,556 |
$Over $1MM | 5 | $7,675,000 | $1,535,000 |
Gloversville's loan sizing saw the bucket of loans from $100k-200k with 451 originations, totaling $64,365,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 497 | $87,565,000 | $176,187 |
60-80% | 222 | $46,750,000 | $210,586 |
20-40% | 106 | $8,170,000 | $77,075 |
40-60% | 102 | $13,440,000 | $131,765 |
Under 20% | 72 | $3,040,000 | $42,222 |
Over 100% | 5 | $1,375,000 | $275,000 |
Gloversville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 497 originations, totaling $87,565,000 in origination value.