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

    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.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    HOMESTEAD FUNDING CORP. 65 5.16% $3,685
    Community Bank 34 5.36% $1,147
    SEFCU SERVICES, LLC 27 4.40% $3,326
    QUICKEN LOANS, LLC 19 5.24% $5,452
    CCFCU FUNDING, LLC 16 4.28% $3,562
    KeyBank 14 4.49% $3,071
    1ST PRIORITY MORTGAGE, INC. 14 4.98% $3,914
    HOME POINT FINANCIAL CORPORATION 13 5.41% $5,886
    NBT Bank 11 4.07% $3,253
    TrustCo Bank 10 4.54% $2,185
    Premium Mortgage Corporation 9 5.25% $3,178
    UNITED WHOLESALE MORTGAGE, LLC 9 4.38% $6,617
    PLAZA HOME MORTGAGE, INC. 5 5.17% $7,576
    LOANDEPOT.COM, LLC 5 5.10% $4,364
    SUNMARK FEDERAL CREDIT UNION 5 5.58% $4,754
    Wells Fargo Bank 4 5.81% $4,257
    CALIBER HOME LOANS, INC. 4 5.31% $7,569
    M&T Bank 4 4.38% $3,911
    Citizens Bank 3 4.17% $4,702
    Bank of America 3 4.42% $4,648
    Mr. Cooper ( Nationstar Mortgage ) 3 4.33% $6,938
    Glens Falls National Bank and Trust Company 3 4.75% $3,495
    FREEDOM MORTGAGE CORPORATION 3 4.96% $7,660
    HUDSON VALLEY CREDIT UNION 2 4.56% $2,786
    Evolve Bank & Trust 2 5.81% $4,056
    Farm Credit East, ACA 2 4.05% $8,238
    JPMorgan Chase Bank 2 6.06% $3,138
    MOVEMENT MORTGAGE, LLC 2 5.50% $4,942
    NAVY FEDERAL CREDIT UNION 2 3.00% $9,291
    AMERICAN FINANCING CORPORATION 2 5.63% $4,831
    Carrington Mortgage Services, LLC 2 4.44% $5,975
    HSBC BANK USA, NATIONAL ASSOCIATION 1 5.63% $3,494
    HUDSON RIVER COMMUNITY 1 4.00% $2,652
    Chemung Canal Trust Company 1 5.63% $0
    HUNT MORTGAGE CORPORATION 1 6.13% $13,765
    TEG Federal Credit Union 1 4.38% $3,042
    First National Bank of America 1 8.13% $8,123
    LAND HOME FINANCIAL SERVICES, INC. 1 3.88% $4,734
    21ST MORTGAGE CORPORATION 1 6.75% $5,756
    MEMBERS 1ST FEDERAL CREDIT UNION 1 5.38% $10,492
    MLB RESIDENTIAL LENDING, LLC 1 5.75% $6,203
    Morgan Stanley Private Bank 1 2.35% $5,722
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.50% $7,179
    FINANCE OF AMERICA MORTGAGE LLC 1 7.50% $8,079
    Empower Federal Credit Union 1 3.25% $4,686
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 7.00% $6,212
    AMERICU Credit Union 1 5.50% $3,391
    PENNYMAC LOAN SERVICES, LLC 1 6.88% $6,437
    BETTER MORTGAGE CORPORATION 1 6.00% $5,318
    PREMIA MORTGAGE, LLC 1 3.50% $3,721
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $4,190
    ALLIED MORTGAGE GROUP, INC. 1 5.25% $5,700
    Quontic Bank 1 8.13% $12,479
    ROYAL UNITED MORTGAGE LLC 1 6.00% $6,879
    Santander Bank, N.A. 1 3.13% $3,403
    Adirondack Bank 1 5.25% $3,544
    CROSSCOUNTRY MORTGAGE, LLC 1 5.88% $12,153
    TEACHERS 1 4.38% $4,119
    Flagstar Bank, FSB 1 3.15% $5,027
    GUARANTEED RATE, INC. 1 6.88% $10,113
    Heritage Bank 1 6.25% $6,202
    Bethpage Federal Credit Union 1 5.75% $3,953
    Bank of Richmondville 1 3.50% $1,167

    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.