Hobbs USDA Loan Rates, Closing Costs & Stats

Hobbs, NM

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Hobbs's 4 lenders originated 13 USDA loans during 2023. The total origination value was $2,345,000, with an average USDA loan value of $180,385.

    Hobbs USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Hobbs averaged 6.67% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Hobbs's average USDA mortgage closing costs are $5,612.

    The average rate for the prior week (2024-04-05) was 6.7% and one month ago for the week of 2024-03-08, the average rate was 6.76%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.61%.

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

    Hobbs USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Hobbs level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Paramount Residential Mortgage Group, Inc. 6 6.77% $4,327
    DIRECTORS MORTGAGE, INC. 3 5.71% $8,129
    GENEVA FINANCIAL, LLC 2 6.50% $8,904
    First American Bank 1 5.75% $5,555

    The top Hobbs USDA lender as defined by loan originations is Paramount Residential Mortgage Group, Inc., with 6 USDA loans originated. Their average total fees are $4,327, which is $3,802 lower than the next largest lender, DIRECTORS MORTGAGE, INC..

    The lowest fee Hobbs USDA lenders (with over 10 loans originated) are .

    The lowest rate Hobbs USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hobbs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $164,750 (-8.3%) $188,375 (-4.7%) 0.00 224
    2018-02-01 $162,600 (-8.4%) $185,991 (-3.4%) 0.00 219
    2018-03-01 $161,500 (-4.9%) $189,480 (-1.0%) 0.00 192
    2018-04-01 $164,000 (-6.3%) $190,837 (-1.6%) 0.00 167
    2018-05-01 $177,000 (0.9%) $201,656 (2.5%) 0.00 161
    2018-06-01 $177,000 (3.4%) $209,071 (5.9%) 0.00 154
    2018-07-01 $174,125 (-0.5%) $212,417 (4.5%) 0.00 138
    2018-08-01 $180,350 (0.6%) $215,113 (4.8%) 0.00 141
    2018-09-01 $176,000 (-0.1%) $206,877 (1.0%) 0.00 134
    2018-10-01 $175,300 (-0.8%) $203,710 (1.6%) 0.00 124
    2018-11-01 $179,450 (2.3%) $212,744 (7.0%) 0.00 122
    2018-12-01 $189,000 (7.4%) $223,162 (13.3%) 0.00 106
    2019-01-01 $193,250 (17.3%) $235,483 (25.0%) 0.00 81
    2019-02-01 $192,000 (18.1%) $234,151 (25.9%) 0.00 83
    2019-03-01 $186,823 (15.7%) $228,805 (20.8%) 0.00 77
    2019-04-01 $186,548 (13.8%) $221,950 (16.3%) 0.00 81
    2019-05-01 $185,710 (4.9%) $222,428 (10.3%) 0.00 87
    2019-06-01 $195,000 (10.2%) $219,633 (5.1%) 0.00 101
    2019-07-01 $177,000 (1.7%) $204,840 (-3.6%) 0.00 114
    2019-08-01 $177,818 (-1.4%) $218,023 (1.4%) 0.00 115
    2019-09-01 $179,045 (1.7%) $235,224 (13.7%) 0.00 117
    2019-10-01 $179,864 (2.6%) $234,782 (15.3%) 0.00 120
    2019-11-01 $183,000 (2.0%) $226,029 (6.2%) 0.00 136
    2019-12-01 $176,500 (-6.6%) $219,047 (-1.8%) 0.00 127
    2020-01-01 $181,730 (-6.0%) $224,190 (-4.8%) 0.00 112
    2020-02-01 $185,600 (-3.3%) $215,599 (-7.9%) 0.00 116
    2020-03-01 $193,200 (3.4%) $226,651 (-0.9%) 0.00 105
    2020-04-01 $199,550 (7.0%) $226,106 (1.9%) 0.00 121
    2020-05-01 $187,500 (1.0%) $226,413 (1.8%) 0.00 121
    2020-06-01 $185,500 (-4.9%) $220,581 (0.4%) 0.00 121
    2020-07-01 $192,700 (8.9%) $222,017 (8.4%) 0.00 108
    2020-08-01 $196,000 (10.2%) $226,890 (4.1%) 0.00 104
    2020-09-01 $199,600 (11.5%) $222,111 (-5.6%) 0.00 116
    2020-10-01 $189,450 (5.3%) $219,930 (-6.3%) 0.00 112
    2020-11-01 $185,500 (1.4%) $220,452 (-2.5%) 0.00 123
    2020-12-01 $185,125 (4.9%) $221,294 (1.0%) 0.00 136
    2021-01-01 $185,500 (2.1%) $224,958 (0.3%) 0.00 141
    2021-02-01 $185,750 (0.1%) $227,835 (5.7%) 0.00 150
    2021-03-01 $195,000 (0.9%) $228,098 (0.6%) 0.00 142
    2021-04-01 $194,975 (-2.3%) $230,857 (2.1%) 0.00 129
    2021-05-01 $195,000 (4.0%) $223,085 (-1.5%) 0.00 130
    2021-06-01 $196,738 (6.1%) $230,497 (4.5%) 0.00 149
    2021-07-01 $193,500 (0.4%) $221,639 (-0.2%) 0.00 149
    2021-08-01 $191,500 (-2.3%) $225,155 (-0.8%) 0.00 153
    2021-09-01 $189,750 (-4.9%) $225,144 (1.4%) 0.00 143
    2021-10-01 $189,500 (0.0%) $217,115 (-1.3%) 0.00 145
    2021-11-01 $189,500 (2.2%) $223,457 (1.4%) 0.00 147
    2021-12-01 $189,375 (2.3%) $226,185 (2.2%) 0.00 134
    2022-01-01 $195,000 (5.1%) $236,040 (4.9%) 0.00 123
    2022-02-01 $209,078 (12.6%) $256,708 (12.7%) 0.00 118
    2022-03-01 $223,250 (14.5%) $263,552 (15.5%) 0.00 108
    2022-04-01 $212,500 (9.0%) $260,906 (13.0%) 0.00 102
    2022-05-01 $198,475 (1.8%) $249,742 (12.0%) 0.00 92
    2022-06-01 $209,725 (6.6%) $260,064 (12.8%) 0.00 89
    2022-07-01 $206,156 (6.5%) $256,594 (15.8%) 0.00 108
    2022-08-01 $218,750 (14.2%) $265,861 (18.1%) 0.00 111
    2022-09-01 $208,750 (10.0%) $255,438 (13.5%) 0.00 109
    2022-10-01 $215,000 (13.5%) $247,034 (13.8%) 0.00 107
    2022-11-01 $222,450 (17.4%) $252,135 (12.8%) 0.00 123
    2022-12-01 $224,900 (18.8%) $252,205 (11.5%) 0.00 118
    2023-01-01 $247,500 (26.9%) $263,269 (11.5%) 0.00 113
    2023-02-01 $237,500 (13.6%) $255,828 (-0.3%) 0.00 96
    2023-03-01 $224,925 (0.8%) $256,941 (-2.5%) 0.00 90
    2023-04-01 $220,000 (3.5%) $261,207 (0.1%) 0.00 81
    2023-05-01 $227,500 (14.6%) $272,848 (9.3%) 0.00 71
    2023-06-01 $210,578 (0.4%) $253,407 (-2.6%) 0.00 78
    2023-07-01 $225,000 (9.1%) $255,958 (-0.3%) 0.00 82
    2023-08-01 $228,500 (4.5%) $256,703 (-3.4%) 0.00 84
    2023-09-01 $225,000 (7.8%) $247,570 (-3.1%) 0.00 81
    2023-10-01 $225,000 (4.7%) $259,103 (4.9%) 0.00 88
    2023-11-01 $215,000 (-3.4%) $255,049 (1.2%) 0.00 84
    2023-12-01 $207,000 (-8.0%) $251,343 (-0.3%) 0.00 77
    2024-01-01 $195,000 (-21.2%) $232,404 (-11.7%) 0.00 73
    2024-02-01 $193,500 (-18.5%) $268,108 (4.8%) 0.00 72
    2024-03-01 $196,750 (-12.5%) $268,981 (4.7%) 0.00 82
    Hobbs's median listing price for 2024-03-01 was $196,750, a difference of $-28,175 (-12.5%) versus the prior year and $3,250 versus the prior month.

    Hobbs's median listing price comes in at 0% of the national average.

    Hobbs's average listing price for 2024-03-01 was $268,981, a difference of $12,040 (4.7%) versus the prior year and $873 versus the prior month.

    For the 2024-03-01 period, Hobbs had 82 MLS listings, a difference of 10 listings (14%) versus the prior month and -8 listings (-9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hobbs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,667 sqft
    2018-02-01 0 days 1,641 sqft
    2018-03-01 0 days 1,634 sqft
    2018-04-01 0 days 1,605 sqft
    2018-05-01 0 days 1,676 sqft
    2018-06-01 0 days 1,718 sqft
    2018-07-01 0 days 1,730 sqft
    2018-08-01 0 days 1,806 sqft
    2018-09-01 0 days 1,872 sqft
    2018-10-01 0 days 1,890 sqft
    2018-11-01 0 days 1,892 sqft
    2018-12-01 0 days 1,903 sqft
    2019-01-01 0 days 1,924 sqft
    2019-02-01 0 days 1,864 sqft
    2019-03-01 0 days 1,809 sqft
    2019-04-01 0 days 1,820 sqft
    2019-05-01 0 days 1,811 sqft
    2019-06-01 0 days 1,744 sqft
    2019-07-01 0 days 1,620 sqft
    2019-08-01 0 days 1,693 sqft
    2019-09-01 0 days 1,754 sqft
    2019-10-01 0 days 1,794 sqft
    2019-11-01 0 days 1,765 sqft
    2019-12-01 0 days 1,760 sqft
    2020-01-01 0 days 1,730 sqft
    2020-02-01 0 days 1,800 sqft
    2020-03-01 0 days 1,825 sqft
    2020-04-01 0 days 1,839 sqft
    2020-05-01 0 days 1,763 sqft
    2020-06-01 0 days 1,715 sqft
    2020-07-01 0 days 1,801 sqft
    2020-08-01 0 days 1,848 sqft
    2020-09-01 0 days 1,828 sqft
    2020-10-01 0 days 1,850 sqft
    2020-11-01 0 days 1,760 sqft
    2020-12-01 0 days 1,768 sqft
    2021-01-01 0 days 1,782 sqft
    2021-02-01 0 days 1,815 sqft
    2021-03-01 0 days 1,840 sqft
    2021-04-01 0 days 1,829 sqft
    2021-05-01 0 days 1,806 sqft
    2021-06-01 0 days 1,808 sqft
    2021-07-01 0 days 1,817 sqft
    2021-08-01 0 days 1,851 sqft
    2021-09-01 0 days 1,800 sqft
    2021-10-01 0 days 1,789 sqft
    2021-11-01 0 days 1,742 sqft
    2021-12-01 0 days 1,719 sqft
    2022-01-01 0 days 1,766 sqft
    2022-02-01 0 days 1,800 sqft
    2022-03-01 0 days 1,827 sqft
    2022-04-01 0 days 1,822 sqft
    2022-05-01 0 days 1,783 sqft
    2022-06-01 0 days 1,831 sqft
    2022-07-01 0 days 1,839 sqft
    2022-08-01 0 days 1,843 sqft
    2022-09-01 0 days 1,809 sqft
    2022-10-01 0 days 1,768 sqft
    2022-11-01 0 days 1,789 sqft
    2022-12-01 0 days 1,800 sqft
    2023-01-01 0 days 1,840 sqft
    2023-02-01 0 days 1,803 sqft
    2023-03-01 0 days 1,813 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,868 sqft
    2023-06-01 0 days 1,802 sqft
    2023-07-01 0 days 1,860 sqft
    2023-08-01 0 days 1,937 sqft
    2023-09-01 0 days 1,893 sqft
    2023-10-01 0 days 1,963 sqft
    2023-11-01 0 days 1,921 sqft
    2023-12-01 0 days 1,894 sqft
    2024-01-01 0 days 1,726 sqft
    2024-02-01 0 days 1,706 sqft
    2024-03-01 0 days 1,751 sqft
    Hobbs's median listing age (time on market) for 2024-03-01 was 0 days.

    Hobbs's median square footage for active listings during the 2024-03-01 period was 1,751 sqft. One year prior, the average listing was 1,813 sqft.