Top Mortgage Lenders in the Elmira, NY area

Which mortgage lender in the Elmira, NY area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Elmira, NY area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Elmira, NY area is Elmira Savings Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.12%. This means that Elmira Savings Bank provided a -0.12% lower interest rate for its customers than other lenders in Elmira, NY for a similar set of borrowers. Elmira Savings Bank has a market share of 16.8%. On the other hand, the most popular lender in the market is Corning Federal Credit Union, with a market share of 24.4%. Corning Federal Credit Union is an average rate lender in this area, with a “Rate Difference” of -0.09% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for 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, 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 (for example, above $510,400 in 2020), 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 Inc. To get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders by “Rate Rank” for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.12% 16.79%
Freedom Mortgage Corporation 2, -0.11% 1.76%
First Heritage Federal CU 3, -0.10% 9.26%
Corning Federal Credit Union 4, -0.09% 24.42%
Five Star Bank 5, -0.09% 2.91%
Chemung Canal Trust Company 6, -0.05% 4.36%
Plaza Home Mortgage Inc 7, 0.00% 1.37%
Northwest Bank 8, 0.01% 1.85%
Visions Federal Credit Union 9, 0.03% 1.90%
Movement Mortgage 10, 0.03% 3.00%
Wells Fargo Bank 11, 0.04% 2.34%
Land Home Financial Services Inc 12, 0.04% 1.98%
Nationstar Mortgage 13, 0.10% 2.91%
Citizens & Northern Bank 14, 0.16% 5.51%
Quicken Loans 15, 0.16% 8.29%
First Citizens Community Bank 16, 0.24% 3.09%
Community Bank 17, 0.29% 8.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Five Star Bank 1, -0.20% 3.00%
First Heritage Federal CU 2, -0.13% 8.06%
Freedom Mortgage Corporation 3, -0.13% 2.78%
Corning Federal Credit Union 4, -0.12% 21.03%
Elmira Savings Bank 5, -0.08% 19.85%
Chemung Canal Trust Company 6, -0.07% 3.96%
Visions Federal Credit Union 7, -0.06% 1.68%
Movement Mortgage 8, 0.02% 4.84%
Wells Fargo Bank 9, 0.03% 3.44%
Plaza Home Mortgage Inc 10, 0.04% 0.44%
Land Home Financial Services Inc 11, 0.04% 3.15%
Northwest Bank 12, 0.07% 1.25%
First Citizens Community Bank 13, 0.07% 2.20%
Nationstar Mortgage 14, 0.10% 4.03%
Citizens & Northern Bank 15, 0.17% 4.32%
Quicken Loans 16, 0.18% 6.96%
Community Bank 17, 0.38% 9.01%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.24% 12.17%
Corning Federal Credit Union 2, -0.07% 29.54%
First Heritage Federal CU 3, -0.06% 11.06%
Chemung Canal Trust Company 4, -0.03% 4.98%
Northwest Bank 5, -0.03% 2.77%
Plaza Home Mortgage Inc 6, 0.00% 2.77%
Land Home Financial Services Inc 7, 0.03% 0.22%
Movement Mortgage 8, 0.05% 0.22%
Freedom Mortgage Corporation 9, 0.06% 0.22%
Nationstar Mortgage 10, 0.07% 1.22%
Five Star Bank 11, 0.08% 2.77%
Wells Fargo Bank 12, 0.08% 0.66%
Community Bank 13, 0.12% 7.19%
Visions Federal Credit Union 14, 0.14% 2.21%
Quicken Loans 15, 0.14% 10.29%
Citizens & Northern Bank 16, 0.16% 7.30%
First Citizens Community Bank 17, 0.37% 4.42%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.13% 15.11%
First Heritage Federal CU 2, -0.09% 11.38%
Five Star Bank 3, -0.09% 3.47%
Corning Federal Credit Union 4, -0.09% 30.01%
Chemung Canal Trust Company 5, -0.05% 5.36%
Northwest Bank 6, 0.01% 2.28%
Visions Federal Credit Union 7, 0.03% 2.33%
Wells Fargo Bank 8, 0.04% 2.33%
Movement Mortgage 9, 0.05% 1.63%
Freedom Mortgage Corporation 10, 0.06% 0.05%
Nationstar Mortgage 11, 0.07% 0.49%
Land Home Financial Services Inc 12, 0.13% 0.76%
Citizens & Northern Bank 13, 0.16% 6.77%
Quicken Loans 14, 0.23% 4.12%
First Citizens Community Bank 15, 0.25% 3.74%
Community Bank 16, 0.29% 10.18%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Five Star Bank 1, -0.20% 3.90%
First Heritage Federal CU 2, -0.13% 10.73%
Corning Federal Credit Union 3, -0.12% 28.00%
Chemung Canal Trust Company 4, -0.07% 5.27%
Elmira Savings Bank 5, -0.06% 16.68%
Visions Federal Credit Union 6, -0.06% 2.24%
Wells Fargo Bank 7, 0.02% 3.61%
Movement Mortgage 8, 0.04% 2.83%
Nationstar Mortgage 9, 0.05% 0.29%
Freedom Mortgage Corporation 10, 0.05% 0.10%
Northwest Bank 11, 0.07% 1.66%
First Citizens Community Bank 12, 0.08% 2.83%
Land Home Financial Services Inc 13, 0.13% 1.27%
Citizens & Northern Bank 14, 0.17% 5.76%
Quicken Loans 15, 0.25% 2.83%
Community Bank 16, 0.38% 12.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.24% 13.15%
Corning Federal Credit Union 2, -0.06% 32.52%
First Heritage Federal CU 3, -0.06% 12.18%
Chemung Canal Trust Company 4, -0.03% 5.48%
Northwest Bank 5, -0.02% 3.05%
Land Home Financial Services Inc 6, 0.03% 0.12%
Movement Mortgage 7, 0.07% 0.12%
Wells Fargo Bank 8, 0.08% 0.73%
Five Star Bank 9, 0.08% 2.92%
Nationstar Mortgage 10, 0.09% 0.73%
Community Bank 11, 0.13% 7.92%
Visions Federal Credit Union 12, 0.14% 2.44%
Citizens & Northern Bank 13, 0.16% 8.04%
Quicken Loans 14, 0.22% 5.72%
First Citizens Community Bank 15, 0.37% 4.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Freedom Mortgage Corporation 1, -0.14% 10.68%
Elmira Savings Bank 2, -0.13% 24.33%
Plaza Home Mortgage Inc 3, -0.01% 7.42%
Land Home Financial Services Inc 4, 0.00% 8.90%
Movement Mortgage 5, 0.01% 9.50%
Five Star Bank 6, 0.04% 0.59%
Wells Fargo Bank 7, 0.06% 0.59%
Nationstar Mortgage 8, 0.12% 13.35%
Quicken Loans 9, 0.13% 24.63%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Freedom Mortgage Corporation 1, -0.14% 12.19%
Elmira Savings Bank 2, -0.13% 29.03%
Land Home Financial Services Inc 3, 0.00% 10.75%
Movement Mortgage 4, 0.01% 11.11%
Five Star Bank 5, 0.04% 0.36%
Plaza Home Mortgage Inc 6, 0.05% 1.43%
Wells Fargo Bank 7, 0.07% 0.72%
Nationstar Mortgage 8, 0.12% 15.05%
Quicken Loans 9, 0.18% 19.35%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.03% 36.21%
Movement Mortgage 2, 0.01% 1.72%
Quicken Loans 3, 0.02% 50.00%
Elmira Savings Bank 4, 0.02% 1.72%
Five Star Bank 5, 0.02% 1.72%
Nationstar Mortgage 6, 0.03% 5.17%
Freedom Mortgage Corporation 7, 0.03% 3.45%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 40.00%
Elmira Savings Bank 2, 0.01% 40.00%
First Citizens Community Bank 3, 0.01% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 50.00%
First Citizens Community Bank 2, 0.01% 25.00%
Elmira Savings Bank 3, 0.01% 25.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.03% 7.41%
Elmira Savings Bank 2, -0.02% 22.22%
Land Home Financial Services Inc 3, -0.02% 1.23%
Nationstar Mortgage 4, -0.01% 14.81%
Freedom Mortgage Corporation 5, 0.00% 3.70%
Wells Fargo Bank 6, 0.01% 7.41%
Movement Mortgage 7, 0.01% 7.41%
Quicken Loans 8, 0.02% 35.80%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.03% 3.51%
Elmira Savings Bank 2, -0.02% 31.58%
Nationstar Mortgage 3, -0.00% 17.54%
Freedom Mortgage Corporation 4, 0.01% 5.26%
Wells Fargo Bank 5, 0.01% 10.53%
Movement Mortgage 6, 0.01% 10.53%
Quicken Loans 7, 0.02% 21.05%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.04% 16.67%
Nationstar Mortgage 2, -0.03% 8.33%
Land Home Financial Services Inc 3, -0.03% 4.17%
Quicken Loans 4, 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 for the data comes from 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 based on the MSA, 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.

FB Comments