Alamogordo VA Loan Rates, Closing Costs & Stats

Alamogordo, NM

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Alamogordo's 47 lenders originated 341 VA loans during 2023. The total origination value was $84,305,000, with an average VA loan value of $247,229.

    Alamogordo VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Alamogordo averaged 7.06% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Alamogordo's average VA mortgage closing costs are $5,743.

    The average rate for the prior week (2024-04-12) was 6.59% and one month ago for the week of 2024-03-15, the average rate was 6.75%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Alamogordo VA Loan Lenders by Rates & Fees

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

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 69 6.68% $7,872
    MID AMERICA MORTGAGE, INC. 58 6.55% $4,200
    Gateway First Bank 24 6.63% $6,611
    NAVY FEDERAL CREDIT UNION 19 5.86% $5,977
    USAA Federal Savings Bank 19 6.24% $10,821
    NBKC BANK 16 5.89% $8,606
    HOMEOWNERS FINANCIAL GROUP USA, LLC 13 6.65% $7,498
    QUICKEN LOANS, LLC 12 6.41% $9,290
    CMG MORTGAGE, INC. 12 5.97% $12,372
    Armed Forces Bank 9 6.67% $8,848
    UNITED WHOLESALE MORTGAGE, LLC 6 6.67% $8,214
    NEW DAY FINANCIAL, LLC 6 7.72% $12,634
    PENTAGON FEDERAL CREDIT UNION 5 5.80% $13,247
    PENNYMAC LOAN SERVICES, LLC 5 5.37% $6,999
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.60% $10,122
    FREEDOM MORTGAGE CORPORATION 4 6.63% $10,034
    Sunflower Bank 3 6.13% $5,644
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.42% $5,970
    Magnolia Bank 3 6.00% $8,432
    AMERISAVE MORTGAGE CORPORATION 3 6.04% $9,796
    PLANET HOME LENDING, LLC 2 4.56% $4,982
    First Savings Bank 2 5.69% $4,560
    MANN FINANCIAL INC. 2 6.19% $10,266
    Sierra Pacific Mortgage Company, Inc. 2 6.63% $11,248
    Flagstar Bank, FSB 2 5.81% $4,401
    BNC National Bank 2 5.44% $10,281
    Ameris Bank 1 6.63% $8,423
    TJC Mortgage, Inc. 1 7.50% $10,190
    UNION HOME MORTGAGE CORP. 1 6.63% $7,276
    AMCAP MORTGAGE, LTD. 1 6.13% $9,197
    VERITAS FUNDING, LLC 1 6.75% $15,376
    V.I.P. MORTGAGE, INC. 1 6.75% $1,010
    Waterstone Mortgage Corporation 1 6.38% $4,190
    Bank of England 1 5.75% $6,066
    FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $3,830
    First Federal Bank 1 6.50% $7,669
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.00% $7,052
    GUARANTEED RATE, INC. 1 5.50% $8,887
    CHURCHILL MORTGAGE CORPORATION 1 6.13% $7,666
    HOMETRUST MORTGAGE COMPANY 1 5.75% $8,128
    LOANDEPOT.COM, LLC 1 5.25% $17,607
    Carrington Mortgage Services, LLC 1 5.38% $8,079
    CARDINAL FINANCIAL 1 7.25% $6,865
    MOVEMENT MORTGAGE, LLC 1 7.75% $5,764
    First American Bank 1 6.75% $47,466
    Wells Fargo Bank 1 6.00% $10,558
    NUSENDA 1 6.75% $1,753

    The top Alamogordo VA lender as defined by loan originations is Mortgage Research Center, LLC, with 69 VA loans originated. Their average total fees are $7,872, which is $3,672 higher than the next largest lender, MID AMERICA MORTGAGE, INC..

    The lowest fee Alamogordo VA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,200), NAVY FEDERAL CREDIT UNION ($5,977), Gateway First Bank ($6,611), HOMEOWNERS FINANCIAL GROUP USA, LLC ($7,498) and Mortgage Research Center, LLC ($7,872).

    The lowest rate Alamogordo VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.86%), NBKC BANK (5.89%), CMG MORTGAGE, INC. (5.97%), USAA Federal Savings Bank (6.24%) and QUICKEN LOANS, LLC (6.41%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alamogordo (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 $178,250 (11.7%) $203,193 (7.9%) 0.00 646
    2018-02-01 $179,375 (12.4%) $204,550 (8.0%) 0.00 636
    2018-03-01 $179,600 (12.3%) $206,979 (5.6%) 0.00 613
    2018-04-01 $183,250 (11.1%) $209,998 (5.7%) 0.00 602
    2018-05-01 $180,000 (9.1%) $211,078 (6.6%) 0.00 589
    2018-06-01 $177,000 (3.0%) $213,520 (1.1%) 0.00 578
    2018-07-01 $178,875 (4.2%) $219,803 (2.7%) 0.00 572
    2018-08-01 $179,700 (5.8%) $223,910 (4.6%) 0.00 569
    2018-09-01 $179,800 (5.8%) $222,914 (4.1%) 0.00 537
    2018-10-01 $179,250 (2.6%) $223,419 (9.5%) 0.00 506
    2018-11-01 $173,574 (-0.5%) $221,456 (11.0%) 0.00 473
    2018-12-01 $174,900 (0.5%) $224,783 (13.4%) 0.00 450
    2019-01-01 $182,450 (2.4%) $230,514 (13.5%) 0.00 425
    2019-02-01 $185,155 (3.2%) $229,014 (12.0%) 0.00 401
    2019-03-01 $190,106 (5.9%) $228,638 (10.5%) 0.00 404
    2019-04-01 $198,000 (8.1%) $229,094 (9.1%) 0.00 422
    2019-05-01 $198,000 (10.0%) $229,142 (8.6%) 0.00 445
    2019-06-01 $194,200 (9.7%) $228,173 (6.9%) 0.00 447
    2019-07-01 $189,950 (6.2%) $227,316 (3.4%) 0.00 447
    2019-08-01 $189,827 (5.6%) $226,965 (1.4%) 0.00 421
    2019-09-01 $189,643 (5.5%) $224,988 (0.9%) 0.00 410
    2019-10-01 $188,725 (5.3%) $221,139 (-1.0%) 0.00 398
    2019-11-01 $178,750 (3.0%) $212,890 (-3.9%) 0.00 389
    2019-12-01 $183,800 (5.1%) $217,780 (-3.1%) 0.00 367
    2020-01-01 $188,150 (3.1%) $219,385 (-4.8%) 0.00 359
    2020-02-01 $198,950 (7.5%) $229,727 (0.3%) 0.00 353
    2020-03-01 $197,375 (3.8%) $229,001 (0.2%) 0.00 329
    2020-04-01 $191,900 (-3.1%) $224,013 (-2.2%) 0.00 319
    2020-05-01 $198,500 (0.3%) $231,280 (0.9%) 0.00 281
    2020-06-01 $208,850 (7.5%) $244,059 (7.0%) 0.00 221
    2020-07-01 $216,200 (13.8%) $245,058 (7.8%) 0.00 198
    2020-08-01 $219,900 (15.8%) $257,050 (13.3%) 0.00 172
    2020-09-01 $219,225 (15.6%) $258,885 (15.1%) 0.00 178
    2020-10-01 $220,000 (16.6%) $285,813 (29.3%) 0.00 174
    2020-11-01 $215,625 (20.6%) $277,890 (30.5%) 0.00 163
    2020-12-01 $217,950 (18.6%) $317,098 (45.6%) 0.00 167
    2021-01-01 $209,450 (11.3%) $309,082 (40.9%) 0.00 164
    2021-02-01 $197,175 (-0.9%) $303,038 (31.9%) 0.00 138
    2021-03-01 $187,150 (-5.2%) $309,051 (35.0%) 0.00 123
    2021-04-01 $201,600 (5.1%) $332,885 (48.6%) 0.00 112
    2021-05-01 $229,850 (15.8%) $351,157 (51.8%) 0.00 115
    2021-06-01 $225,475 (8.0%) $338,535 (38.7%) 0.00 143
    2021-07-01 $239,700 (10.9%) $355,242 (45.0%) 0.00 149
    2021-08-01 $222,500 (1.2%) $366,797 (42.7%) 0.00 150
    2021-09-01 $213,625 (-2.6%) $382,434 (47.7%) 0.00 145
    2021-10-01 $239,250 (8.8%) $397,242 (39.0%) 0.00 136
    2021-11-01 $255,850 (18.7%) $378,293 (36.1%) 0.00 132
    2021-12-01 $267,250 (22.6%) $414,254 (30.6%) 0.00 119
    2022-01-01 $264,950 (26.5%) $386,791 (25.1%) 0.00 107
    2022-02-01 $267,375 (35.6%) $371,089 (22.5%) 0.00 87
    2022-03-01 $288,475 (54.1%) $380,333 (23.1%) 0.00 85
    2022-04-01 $269,000 (33.4%) $416,193 (25.0%) 0.00 98
    2022-05-01 $257,225 (11.9%) $390,462 (11.2%) 0.00 119
    2022-06-01 $266,250 (18.1%) $378,214 (11.7%) 0.00 134
    2022-07-01 $270,000 (12.6%) $358,677 (1.0%) 0.00 160
    2022-08-01 $273,450 (22.9%) $365,389 (-0.4%) 0.00 152
    2022-09-01 $286,000 (33.9%) $372,690 (-2.6%) 0.00 130
    2022-10-01 $284,500 (18.9%) $375,021 (-5.6%) 0.00 131
    2022-11-01 $299,500 (17.1%) $394,317 (4.2%) 0.00 133
    2022-12-01 $299,500 (12.1%) $396,434 (-4.3%) 0.00 135
    2023-01-01 $304,750 (15.0%) $400,508 (3.6%) 0.00 130
    2023-02-01 $316,635 (18.4%) $415,975 (12.1%) 0.00 114
    2023-03-01 $325,225 (12.7%) $413,678 (8.8%) 0.00 112
    2023-04-01 $299,700 (11.4%) $391,887 (-5.8%) 0.00 119
    2023-05-01 $297,075 (15.5%) $371,935 (-4.7%) 0.00 135
    2023-06-01 $334,725 (25.7%) $405,377 (7.2%) 0.00 137
    2023-07-01 $319,350 (18.3%) $386,561 (7.8%) 0.00 148
    2023-08-01 $335,750 (22.8%) $401,771 (10.0%) 0.00 142
    2023-09-01 $319,600 (11.8%) $392,861 (5.4%) 0.00 153
    2023-10-01 $315,000 (10.7%) $392,120 (4.6%) 0.00 166
    2023-11-01 $299,600 (0.0%) $388,351 (-1.5%) 0.00 173
    2023-12-01 $299,000 (-0.2%) $394,834 (-0.4%) 0.00 182
    2024-01-01 $293,450 (-3.7%) $391,045 (-2.4%) 0.00 174
    2024-02-01 $295,650 (-6.6%) $380,322 (-8.6%) 0.00 180
    2024-03-01 $329,720 (1.4%) $393,278 (-4.9%) 0.00 175
    Alamogordo's median listing price for 2024-03-01 was $329,720, a difference of $4,495 (1.4%) versus the prior year and $34,070 versus the prior month.

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

    Alamogordo's average listing price for 2024-03-01 was $393,278, a difference of $-20,400 (-4.9%) versus the prior year and $12,956 versus the prior month.

    For the 2024-03-01 period, Alamogordo had 175 MLS listings, a difference of -5 listings (-3%) versus the prior month and 63 listings (56%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alamogordo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,752 sqft
    2018-02-01 0 days 1,750 sqft
    2018-03-01 0 days 1,757 sqft
    2018-04-01 0 days 1,782 sqft
    2018-05-01 0 days 1,793 sqft
    2018-06-01 0 days 1,775 sqft
    2018-07-01 0 days 1,794 sqft
    2018-08-01 0 days 1,812 sqft
    2018-09-01 0 days 1,816 sqft
    2018-10-01 0 days 1,818 sqft
    2018-11-01 0 days 1,814 sqft
    2018-12-01 0 days 1,820 sqft
    2019-01-01 0 days 1,829 sqft
    2019-02-01 0 days 1,840 sqft
    2019-03-01 0 days 1,842 sqft
    2019-04-01 0 days 1,858 sqft
    2019-05-01 0 days 1,851 sqft
    2019-06-01 0 days 1,844 sqft
    2019-07-01 0 days 1,825 sqft
    2019-08-01 0 days 1,818 sqft
    2019-09-01 0 days 1,805 sqft
    2019-10-01 0 days 1,792 sqft
    2019-11-01 0 days 1,777 sqft
    2019-12-01 0 days 1,803 sqft
    2020-01-01 0 days 1,816 sqft
    2020-02-01 0 days 1,853 sqft
    2020-03-01 0 days 1,811 sqft
    2020-04-01 0 days 1,801 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,827 sqft
    2020-07-01 0 days 1,826 sqft
    2020-08-01 0 days 1,875 sqft
    2020-09-01 0 days 1,808 sqft
    2020-10-01 0 days 1,803 sqft
    2020-11-01 0 days 1,785 sqft
    2020-12-01 0 days 1,780 sqft
    2021-01-01 0 days 1,776 sqft
    2021-02-01 0 days 1,767 sqft
    2021-03-01 0 days 1,693 sqft
    2021-04-01 0 days 1,778 sqft
    2021-05-01 0 days 1,936 sqft
    2021-06-01 0 days 1,871 sqft
    2021-07-01 0 days 1,819 sqft
    2021-08-01 0 days 1,786 sqft
    2021-09-01 0 days 1,750 sqft
    2021-10-01 0 days 1,860 sqft
    2021-11-01 0 days 1,794 sqft
    2021-12-01 0 days 1,901 sqft
    2022-01-01 0 days 1,809 sqft
    2022-02-01 0 days 1,801 sqft
    2022-03-01 0 days 1,946 sqft
    2022-04-01 0 days 1,942 sqft
    2022-05-01 0 days 1,824 sqft
    2022-06-01 0 days 1,818 sqft
    2022-07-01 0 days 1,822 sqft
    2022-08-01 0 days 1,854 sqft
    2022-09-01 0 days 1,882 sqft
    2022-10-01 0 days 1,900 sqft
    2022-11-01 0 days 2,005 sqft
    2022-12-01 0 days 2,008 sqft
    2023-01-01 0 days 1,986 sqft
    2023-02-01 0 days 2,019 sqft
    2023-03-01 0 days 1,991 sqft
    2023-04-01 0 days 1,945 sqft
    2023-05-01 0 days 1,865 sqft
    2023-06-01 0 days 1,951 sqft
    2023-07-01 0 days 1,940 sqft
    2023-08-01 0 days 1,971 sqft
    2023-09-01 0 days 1,936 sqft
    2023-10-01 0 days 1,915 sqft
    2023-11-01 0 days 1,900 sqft
    2023-12-01 0 days 1,895 sqft
    2024-01-01 0 days 1,912 sqft
    2024-02-01 0 days 1,907 sqft
    2024-03-01 0 days 1,921 sqft
    Alamogordo's median listing age (time on market) for 2024-03-01 was 0 days.

    Alamogordo's median square footage for active listings during the 2024-03-01 period was 1,921 sqft. One year prior, the average listing was 1,991 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.