Which mortgage lender in the Elmira, NY area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Elmira, NY area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Elmira, NY area in terms of interest rate is Elmira Savings Bank, with an average “Rate Difference” of -0.12%. This means that, comparing similar borrowers, Elmira Savings Bank provided a -0.12% lower interest rate for its customers than other lenders in the area. Elmira Savings Bank has a market share of 16.8%. On the other hand, the most popular lender in the Elmira, NY area is Corning Federal Credit Union, with a larger market share of 24.4%. Corning Federal Credit Union is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.09% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Elmira, NY area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, going by historical data, the cheapest lender for Conventional mortgages in Elmira, NY is Elmira Savings Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Freedom Mortgage Corporation. The cheapest VA mortgage provider is Plaza Home Mortgage. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
Ranking of Mortgage Lenders in Elmira, NY
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.12% | 16.79% | |
| Freedom Mortgage Corporation | -0.11% | 1.76% | |
| First Heritage Federal CU | -0.10% | 9.26% | |
| Corning Federal Credit Union | -0.09% | 24.42% | |
| Five Star Bank | -0.09% | 2.91% | |
| Chemung Canal Trust Company | -0.05% | 4.36% | |
| Plaza Home Mortgage | 0.00% | 1.37% | |
| Northwest Bank PA | 0.01% | 1.85% | |
| Visions Federal Credit Union | 0.03% | 1.90% | |
| Movement Mortgage | 0.03% | 3.00% | |
| Wells Fargo Bank | 0.04% | 2.34% | |
| Land Home Financial Services | 0.04% | 1.98% | |
| Mr. Cooper | 0.10% | 2.91% | |
| Citizens & Northern Bank | 0.16% | 5.51% | |
| Quicken Loans | 0.16% | 8.29% | |
| First Citizens Community Bank | 0.24% | 3.09% | |
| Community Bank NA | 0.29% | 8.29% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Five Star Bank | -0.20% | 3.00% | |
| First Heritage Federal CU | -0.13% | 8.06% | |
| Freedom Mortgage Corporation | -0.13% | 2.78% | |
| Corning Federal Credit Union | -0.12% | 21.03% | |
| Elmira Savings Bank | -0.08% | 19.85% | |
| Chemung Canal Trust Company | -0.07% | 3.96% | |
| Visions Federal Credit Union | -0.06% | 1.68% | |
| Movement Mortgage | 0.02% | 4.84% | |
| Wells Fargo Bank | 0.03% | 3.44% | |
| Plaza Home Mortgage | 0.04% | 0.44% | |
| Land Home Financial Services | 0.04% | 3.15% | |
| Northwest Bank PA | 0.07% | 1.25% | |
| First Citizens Community Bank | 0.07% | 2.20% | |
| Mr. Cooper | 0.10% | 4.03% | |
| Citizens & Northern Bank | 0.17% | 4.32% | |
| Quicken Loans | 0.18% | 6.96% | |
| Community Bank NA | 0.38% | 9.01% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.24% | 12.17% | |
| Corning Federal Credit Union | -0.07% | 29.54% | |
| First Heritage Federal CU | -0.06% | 11.06% | |
| Chemung Canal Trust Company | -0.03% | 4.98% | |
| Northwest Bank PA | -0.03% | 2.77% | |
| Plaza Home Mortgage | 0.00% | 2.77% | |
| Land Home Financial Services | 0.03% | 0.22% | |
| Movement Mortgage | 0.05% | 0.22% | |
| Freedom Mortgage Corporation | 0.06% | 0.22% | |
| Mr. Cooper | 0.07% | 1.22% | |
| Five Star Bank | 0.08% | 2.77% | |
| Wells Fargo Bank | 0.08% | 0.66% | |
| Community Bank NA | 0.12% | 7.19% | |
| Visions Federal Credit Union | 0.14% | 2.21% | |
| Quicken Loans | 0.14% | 10.29% | |
| Citizens & Northern Bank | 0.16% | 7.30% | |
| First Citizens Community Bank | 0.37% | 4.42% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.13% | 15.11% | |
| First Heritage Federal CU | -0.09% | 11.38% | |
| Five Star Bank | -0.09% | 3.47% | |
| Corning Federal Credit Union | -0.09% | 30.01% | |
| Chemung Canal Trust Company | -0.05% | 5.36% | |
| Northwest Bank PA | 0.01% | 2.28% | |
| Visions Federal Credit Union | 0.03% | 2.33% | |
| Wells Fargo Bank | 0.04% | 2.33% | |
| Movement Mortgage | 0.05% | 1.63% | |
| Freedom Mortgage Corporation | 0.06% | 0.05% | |
| Mr. Cooper | 0.07% | 0.49% | |
| Land Home Financial Services | 0.13% | 0.76% | |
| Citizens & Northern Bank | 0.16% | 6.77% | |
| Quicken Loans | 0.23% | 4.12% | |
| First Citizens Community Bank | 0.25% | 3.74% | |
| Community Bank NA | 0.29% | 10.18% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Five Star Bank | -0.20% | 3.90% | |
| First Heritage Federal CU | -0.13% | 10.73% | |
| Corning Federal Credit Union | -0.12% | 28.00% | |
| Chemung Canal Trust Company | -0.07% | 5.27% | |
| Elmira Savings Bank | -0.06% | 16.68% | |
| Visions Federal Credit Union | -0.06% | 2.24% | |
| Wells Fargo Bank | 0.02% | 3.61% | |
| Movement Mortgage | 0.04% | 2.83% | |
| Mr. Cooper | 0.05% | 0.29% | |
| Freedom Mortgage Corporation | 0.05% | 0.10% | |
| Northwest Bank PA | 0.07% | 1.66% | |
| First Citizens Community Bank | 0.08% | 2.83% | |
| Land Home Financial Services | 0.13% | 1.27% | |
| Citizens & Northern Bank | 0.17% | 5.76% | |
| Quicken Loans | 0.25% | 2.83% | |
| Community Bank NA | 0.38% | 12.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | -0.24% | 13.15% | |
| Corning Federal Credit Union | -0.06% | 32.52% | |
| First Heritage Federal CU | -0.06% | 12.18% | |
| Chemung Canal Trust Company | -0.03% | 5.48% | |
| Northwest Bank PA | -0.02% | 3.05% | |
| Land Home Financial Services | 0.03% | 0.12% | |
| Movement Mortgage | 0.07% | 0.12% | |
| Wells Fargo Bank | 0.08% | 0.73% | |
| Five Star Bank | 0.08% | 2.92% | |
| Mr. Cooper | 0.09% | 0.73% | |
| Community Bank NA | 0.13% | 7.92% | |
| Visions Federal Credit Union | 0.14% | 2.44% | |
| Citizens & Northern Bank | 0.16% | 8.04% | |
| Quicken Loans | 0.22% | 5.72% | |
| First Citizens Community Bank | 0.37% | 4.87% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Freedom Mortgage Corporation | -0.14% | 10.68% | |
| Elmira Savings Bank | -0.13% | 24.33% | |
| Plaza Home Mortgage | -0.01% | 7.42% | |
| Land Home Financial Services | 0.00% | 8.90% | |
| Movement Mortgage | 0.01% | 9.50% | |
| Five Star Bank | 0.04% | 0.59% | |
| Wells Fargo Bank | 0.06% | 0.59% | |
| Mr. Cooper | 0.12% | 13.35% | |
| Quicken Loans | 0.13% | 24.63% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Freedom Mortgage Corporation | -0.14% | 12.19% | |
| Elmira Savings Bank | -0.13% | 29.03% | |
| Land Home Financial Services | 0.00% | 10.75% | |
| Movement Mortgage | 0.01% | 11.11% | |
| Five Star Bank | 0.04% | 0.36% | |
| Plaza Home Mortgage | 0.05% | 1.43% | |
| Wells Fargo Bank | 0.07% | 0.72% | |
| Mr. Cooper | 0.12% | 15.05% | |
| Quicken Loans | 0.18% | 19.35% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.03% | 36.21% | |
| Movement Mortgage | 0.01% | 1.72% | |
| Quicken Loans | 0.02% | 50.00% | |
| Elmira Savings Bank | 0.02% | 1.72% | |
| Five Star Bank | 0.02% | 1.72% | |
| Mr. Cooper | 0.03% | 5.17% | |
| Freedom Mortgage Corporation | 0.03% | 3.45% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 40.00% | |
| Elmira Savings Bank | 0.01% | 40.00% | |
| First Citizens Community Bank | 0.01% | 20.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 50.00% | |
| First Citizens Community Bank | 0.01% | 25.00% | |
| Elmira Savings Bank | 0.01% | 25.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Elmira Savings Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.03% | 7.41% | |
| Elmira Savings Bank | -0.02% | 22.22% | |
| Land Home Financial Services | -0.02% | 1.23% | |
| Mr. Cooper | -0.01% | 14.81% | |
| Freedom Mortgage Corporation | 0.00% | 3.70% | |
| Wells Fargo Bank | 0.01% | 7.41% | |
| Movement Mortgage | 0.01% | 7.41% | |
| Quicken Loans | 0.02% | 35.80% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.03% | 3.51% | |
| Elmira Savings Bank | -0.02% | 31.58% | |
| Mr. Cooper | -0.00% | 17.54% | |
| Freedom Mortgage Corporation | 0.01% | 5.26% | |
| Wells Fargo Bank | 0.01% | 10.53% | |
| Movement Mortgage | 0.01% | 10.53% | |
| Quicken Loans | 0.02% | 21.05% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Plaza Home Mortgage | -0.04% | 16.67% | |
| Mr. Cooper | -0.03% | 8.33% | |
| Land Home Financial Services | -0.03% | 4.17% | |
| Quicken Loans | 0.01% | 70.83% |
* Data is compiled for the Elmira, NY commuting zone area, which comprises of counties of Chemung County, NY, Schuyler County, NY, Steuben County, NY, and Tioga County, PA. This includes cities/towns/communities of Elmira, NY as well as Corning, NY, Big Flats, NY, Horseheads North, NY, Gang Mills, NY, West Elmira, NY, Southport, NY, Blossburg, PA, Horseheads, NY, Elmira Heights, NY, Pine Valley, NY, Watkins Glen, NY, Mansfield, PA, Bath, NY, Riverside, NY, Lawrenceville, PA, Roseville, PA, Wellsburg, NY, Burdett, NY, Wellsboro, PA, Montour Falls, NY, Wayland, NY, Tioga, PA, South Corning, NY, Liberty, PA, Elkland, PA, Prattsburgh, NY, Westfield, PA, Hornell, NY, Campbell, NY, Van Etten, NY, Hammondsport, NY, Addison, NY, Savona, NY, Canisteo, NY, Cohocton, NY, Avoca, NY, and Arkport, NY. Lenders must have made at least 30 loans in the area to be included. Source of the data is Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate conditional on the commuting zone, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.
Mortgage Lender Rankings in Other Cities
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