Las Cruces USDA Loan Rates, Closing Costs & Stats

LAS CRUCES, 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.

    Las Cruces's 2 lenders originated 2 USDA loans during 2023. The total origination value was $340,000, with an average USDA loan value of $170,000.

    Las Cruces USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Las Cruces averaged 6.73% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Las Cruces's average USDA mortgage closing costs are $5,477.

    The average rate for the prior week (2024-04-12) was 6.38% and one month ago for the week of 2024-03-15, the average rate was 6.56%.

    The average rate one year ago was 6.1%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.47%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CANOPY MORTGAGE, LLC 1 5.63% $11,787
    MOVEMENT MORTGAGE, LLC 1 6.75% $6,482

    The top Las Cruces USDA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with 1 USDA loans originated. Their average total fees are $11,787, which is $5,305 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    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
    2024-01-01 $370,088 (0.0%) $438,392 (12.3%) 0.90 582
    2024-02-01 $374,963 (4.2%) $440,668 (15.0%) 0.90 599
    2024-03-01 $369,000 (5.1%) $430,993 (11.8%) 0.87 630
    Las Cruces's median listing price for 2024-03-01 was $369,000, a difference of $17,732 (5.1%) versus the prior year and $-5,963 versus the prior month.

    Las Cruces's median listing price comes in at 87% of the national average.

    Las Cruces's average listing price for 2024-03-01 was $430,993, a difference of $45,623 (11.8%) versus the prior year and $-9,675 versus the prior month.

    For the 2024-03-01 period, Las Cruces had 630 MLS listings, a difference of 31 listings (5%) versus the prior month and -43 listings (-6%) 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
    2024-01-01 85 days 2,108 sqft
    2024-02-01 65 days 2,136 sqft
    2024-03-01 54 days 2,050 sqft
    Las Cruces's median listing age (time on market) for 2024-03-01 was 54 days. This is -28% shorter than the same period one year ago.

    Las Cruces's median square footage for active listings during the 2024-03-01 period was 2,050 sqft. One year prior, the average listing was 1,953 sqft.