Las Cruces USDA Loan Rates, Closing Costs & Stats

LAS CRUCES, NM

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.

Las Cruces USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Las Cruces averaged -0.26% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Las Cruces's average USDA mortgage closing costs are $4,914.

The average rate for the prior week (2024-02-16) was 6.42% and one month ago for the week of 2024-01-19, the average rate was 6.1%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.51%.

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

Las Cruces 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 Las Cruces level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Las Cruces (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 $213,913 (4.0%) $274,512 (5.8%) 0.79 772
2018-02-01 $213,200 (-0.8%) $272,963 (4.8%) 0.77 781
2018-03-01 $207,975 (-1.5%) $260,016 (0.6%) 0.73 837
2018-04-01 $208,750 (-0.1%) $262,181 (2.1%) 0.71 840
2018-05-01 $209,475 (1.0%) $267,689 (5.1%) 0.70 859
2018-06-01 $215,000 (4.1%) $269,950 (4.3%) 0.72 855
2018-07-01 $213,623 (1.8%) $269,171 (5.0%) 0.71 863
2018-08-01 $205,238 (-2.7%) $262,815 (1.7%) 0.69 857
2018-09-01 $209,250 (-1.7%) $265,708 (2.3%) 0.70 836
2018-10-01 $210,370 (-1.8%) $271,910 (4.6%) 0.71 852
2018-11-01 $206,500 (-3.2%) $271,086 (3.2%) 0.70 825
2018-12-01 $204,450 (-2.6%) $267,629 (2.4%) 0.71 801
2019-01-01 $205,000 (-4.2%) $280,332 (2.1%) 0.71 724
2019-02-01 $216,873 (1.7%) $286,198 (4.9%) 0.73 723
2019-03-01 $216,490 (4.1%) $290,624 (11.8%) 0.71 704
2019-04-01 $224,500 (7.5%) $303,317 (15.7%) 0.71 670
2019-05-01 $224,900 (7.4%) $308,721 (15.3%) 0.70 681
2019-06-01 $227,500 (5.8%) $313,905 (16.3%) 0.71 684
2019-07-01 $229,488 (7.4%) $313,461 (16.5%) 0.72 683
2019-08-01 $229,273 (11.7%) $312,273 (18.8%) 0.73 683
2019-09-01 $229,682 (9.8%) $311,210 (17.1%) 0.74 671
2019-10-01 $229,975 (9.3%) $312,123 (14.8%) 0.74 663
2019-11-01 $228,900 (10.9%) $300,715 (10.9%) 0.75 657
2019-12-01 $228,850 (11.9%) $298,923 (11.7%) 0.76 625
2020-01-01 $224,056 (9.3%) $282,827 (0.9%) 0.75 741
2020-02-01 $225,000 (3.8%) $283,542 (-0.9%) 0.74 772
2020-03-01 $235,000 (8.6%) $293,615 (1.0%) 0.74 769
2020-04-01 $235,471 (4.9%) $293,993 (-3.1%) 0.74 735
2020-05-01 $238,000 (5.8%) $294,710 (-4.5%) 0.72 738
2020-06-01 $242,000 (6.4%) $297,601 (-5.2%) 0.71 729
2020-07-01 $242,500 (5.7%) $300,470 (-4.1%) 0.70 714
2020-08-01 $239,000 (4.2%) $300,581 (-3.7%) 0.68 714
2020-09-01 $238,320 (3.8%) $300,940 (-3.3%) 0.68 659
2020-10-01 $235,850 (2.6%) $299,182 (-4.2%) 0.68 671
2020-11-01 $241,000 (5.3%) $302,263 (0.5%) 0.70 679
2020-12-01 $249,450 (9.0%) $303,283 (1.5%) 0.74 642
2021-01-01 $261,250 (16.6%) $307,378 (8.7%) 0.78 593
2021-02-01 $264,500 (17.6%) $307,723 (8.5%) 0.77 601
2021-03-01 $265,955 (13.2%) $306,169 (4.3%) 0.75 636
2021-04-01 $269,000 (14.2%) $303,653 (3.3%) 0.73 664
2021-05-01 $275,000 (15.6%) $310,030 (5.2%) 0.73 671
2021-06-01 $278,989 (15.3%) $319,530 (7.4%) 0.73 690
2021-07-01 $284,035 (17.1%) $325,916 (8.5%) 0.75 741
2021-08-01 $285,000 (19.3%) $327,274 (8.9%) 0.76 799
2021-09-01 $279,500 (17.3%) $330,077 (9.7%) 0.75 762
2021-10-01 $285,000 (20.8%) $338,197 (13.0%) 0.76 709
2021-11-01 $278,978 (15.8%) $336,099 (11.2%) 0.75 681
2021-12-01 $293,500 (17.7%) $341,094 (12.5%) 0.80 659
2022-01-01 $335,000 (28.2%) $355,986 (15.8%) 0.91 614
2022-02-01 $346,500 (31.0%) $362,787 (17.9%) 0.90 593
2022-03-01 $328,695 (23.6%) $369,468 (20.7%) 0.82 637
2022-04-01 $330,000 (22.7%) $377,241 (24.2%) 0.79 607
2022-05-01 $338,818 (23.2%) $383,578 (23.7%) 0.77 606
2022-06-01 $346,330 (24.1%) $384,608 (20.4%) 0.77 631
2022-07-01 $356,130 (25.4%) $389,890 (19.6%) 0.80 658
2022-08-01 $361,333 (26.8%) $397,534 (21.5%) 0.84 681
2022-09-01 $364,983 (30.6%) $402,954 (22.1%) 0.85 655
2022-10-01 $359,613 (26.2%) $393,849 (16.5%) 0.85 672
2022-11-01 $362,950 (30.1%) $389,911 (16.0%) 0.87 750
2022-12-01 $369,500 (25.9%) $392,120 (15.0%) 0.91 681
2023-01-01 $370,113 (10.5%) $390,477 (9.7%) 0.92 661
2023-02-01 $359,925 (3.9%) $383,212 (5.6%) 0.87 674
2023-03-01 $351,268 (6.9%) $385,370 (4.3%) 0.83 673
2023-04-01 $349,925 (6.0%) $390,494 (3.5%) 0.81 703
2023-05-01 $353,162 (4.2%) $401,570 (4.7%) 0.80 714
2023-06-01 $356,263 (2.9%) $403,449 (4.9%) 0.80 711
2023-07-01 $362,950 (1.9%) $411,895 (5.6%) 0.82 706
2023-08-01 $357,475 (-1.1%) $407,516 (2.5%) 0.82 777
2023-09-01 $357,375 (-2.1%) $408,141 (1.3%) 0.83 911
2023-10-01 $362,475 (0.8%) $422,837 (7.4%) 0.85 598
2023-11-01 $372,338 (2.6%) $430,650 (10.5%) 0.89 607
2023-12-01 $369,950 (0.1%) $434,084 (10.7%) 0.90 597
Las Cruces's median listing price for 2023-12-01 was $369,950, a difference of $450 (0.1%) versus the prior year and $-2,388 versus the prior month.

Las Cruces's median listing price comes in at 90% of the national average.

Las Cruces's average listing price for 2023-12-01 was $434,084, a difference of $41,964 (10.7%) versus the prior year and $3,434 versus the prior month.

For the 2023-12-01 period, Las Cruces had 597 MLS listings, a difference of -10 listings (-2%) versus the prior month and -84 listings (-12%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Las Cruces (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 97 days 1,946 sqft
2018-02-01 94 days 1,939 sqft
2018-03-01 73 days 1,929 sqft
2018-04-01 68 days 1,945 sqft
2018-05-01 65 days 1,963 sqft
2018-06-01 63 days 1,957 sqft
2018-07-01 73 days 1,946 sqft
2018-08-01 72 days 1,924 sqft
2018-09-01 73 days 1,920 sqft
2018-10-01 75 days 1,905 sqft
2018-11-01 79 days 1,920 sqft
2018-12-01 89 days 1,900 sqft
2019-01-01 91 days 1,926 sqft
2019-02-01 81 days 1,972 sqft
2019-03-01 72 days 1,958 sqft
2019-04-01 66 days 2,012 sqft
2019-05-01 61 days 1,989 sqft
2019-06-01 64 days 2,024 sqft
2019-07-01 62 days 2,052 sqft
2019-08-01 64 days 2,072 sqft
2019-09-01 67 days 2,064 sqft
2019-10-01 70 days 2,059 sqft
2019-11-01 68 days 2,025 sqft
2019-12-01 78 days 2,023 sqft
2020-01-01 83 days 1,966 sqft
2020-02-01 80 days 1,970 sqft
2020-03-01 58 days 2,009 sqft
2020-04-01 57 days 1,999 sqft
2020-05-01 64 days 1,975 sqft
2020-06-01 66 days 1,981 sqft
2020-07-01 57 days 2,000 sqft
2020-08-01 53 days 1,987 sqft
2020-09-01 52 days 1,968 sqft
2020-10-01 47 days 1,959 sqft
2020-11-01 47 days 1,961 sqft
2020-12-01 55 days 1,987 sqft
2021-01-01 61 days 2,020 sqft
2021-02-01 45 days 2,008 sqft
2021-03-01 44 days 2,001 sqft
2021-04-01 43 days 1,995 sqft
2021-05-01 44 days 1,999 sqft
2021-06-01 48 days 2,015 sqft
2021-07-01 45 days 2,045 sqft
2021-08-01 42 days 2,002 sqft
2021-09-01 51 days 1,942 sqft
2021-10-01 57 days 1,998 sqft
2021-11-01 55 days 1,963 sqft
2021-12-01 57 days 2,005 sqft
2022-01-01 56 days 2,119 sqft
2022-02-01 48 days 2,137 sqft
2022-03-01 47 days 2,046 sqft
2022-04-01 45 days 2,041 sqft
2022-05-01 45 days 2,046 sqft
2022-06-01 44 days 2,080 sqft
2022-07-01 45 days 2,070 sqft
2022-08-01 47 days 2,062 sqft
2022-09-01 58 days 2,106 sqft
2022-10-01 60 days 2,031 sqft
2022-11-01 51 days 2,030 sqft
2022-12-01 58 days 2,026 sqft
2023-01-01 72 days 2,023 sqft
2023-02-01 90 days 1,986 sqft
2023-03-01 75 days 1,953 sqft
2023-04-01 53 days 1,960 sqft
2023-05-01 58 days 1,974 sqft
2023-06-01 60 days 1,988 sqft
2023-07-01 59 days 2,052 sqft
2023-08-01 58 days 2,014 sqft
2023-09-01 72 days 2,000 sqft
2023-10-01 82 days 2,056 sqft
2023-11-01 74 days 2,112 sqft
2023-12-01 86 days 2,097 sqft
Las Cruces's median listing age (time on market) for 2023-12-01 was 86 days. This is 48% longer than the same period one year ago.

Las Cruces's median square footage for active listings during the 2023-12-01 period was 2,097 sqft. One year prior, the average listing was 2,026 sqft.