Albuquerque VA Loan Rates, Closing Costs & Stats

ALBUQUERQUE, 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.

    Albuquerque's 154 lenders originated 5,820 VA loans during 2021. The total origination value was $1,570,320,000, with an average VA loan value of $269,814.

    Albuquerque VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albuquerque averaged 6.88% for the week of 2022-12-02, compared to the national average (all VA variants) of 6.292% for the same period.

    Albuquerque's average VA mortgage closing costs are $5,646.

    The average rate for the prior week (2022-11-25) was 7.02% and one month ago for the week of 2022-10-28, the average rate was 7.2%.

    The average rate one year ago was 3.38%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.22%.

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

    Albuquerque 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 Albuquerque level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    FREEDOM MORTGAGE CORPORATION 486 2.42% $2,751
    QUICKEN LOANS, LLC 455 2.46% $5,191
    Mortgage Research Center, LLC 416 2.83% $6,605
    PENNYMAC LOAN SERVICES, LLC 197 2.43% $6,217
    USAA Federal Savings Bank 193 2.88% $4,549
    Waterstone Mortgage Corporation 193 2.97% $8,709
    LOANDEPOT.COM, LLC 175 2.64% $5,726
    NAVY FEDERAL CREDIT UNION 154 2.46% $5,901
    UNITED WHOLESALE MORTGAGE, LLC 135 2.50% $5,425
    CLEARPATH LENDING 114 2.32% $4,599
    LEGACY MORTGAGE LLC 103 2.97% $9,888
    PRIMARY RESIDENTIAL MORTGAGE, INC. 102 3.19% $7,516
    CALIBER HOME LOANS, INC. 99 2.63% $5,197
    LAKEVIEW LOAN SERVICING, LLC 98 2.44% $3,006
    NEW DAY FINANCIAL, LLC 97 2.86% $8,739
    The Federal Savings Bank 89 2.54% $8,679
    GUILD MORTGAGE COMPANY 88 2.78% $6,437
    Mr. Cooper ( Nationstar Mortgage ) 73 2.88% $3,788
    Wells Fargo Bank 67 2.54% $4,021
    DHI MORTGAGE COMPANY, LTD. 64 2.75% $7,817
    FINANCE OF AMERICA MORTGAGE LLC 59 3.00% $6,609
    PULTE MORTGAGE LLC 55 2.79% $5,260
    BOKF 54 2.91% $7,128
    VILLAGE CAPITAL MORTGAGE 54 2.41% $3,813
    HOME POINT FINANCIAL CORPORATION 53 2.38% $5,983
    HOMEBRIDGE FINANCIAL SERVICES, INC. 51 2.64% $7,219
    CMG MORTGAGE, INC. 45 2.82% $6,739
    AMERICAN FINANCIAL NETWORK, INC. 44 2.55% $7,931
    Kirtland Federal Credit Union 42 3.02% $4,158
    CALCON MUTUAL MORTGAGE LLC 41 3.14% $6,088
    HOMETRUST MORTGAGE COMPANY 41 2.82% $9,774
    Barrington Bank & Trust Company, N.A. 40 2.67% $4,560
    BROKER SOLUTIONS, INC. 38 2.61% $5,542
    Low VA Rates, LLC 38 2.55% $4,752
    BAY EQUITY LLC 38 2.78% $5,565
    LOANPAL, LLC 36 2.53% $6,714
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 35 2.82% $8,461
    ACADEMY MORTGAGE CORPORATION 34 3.05% $7,920
    Plains Commerce Bank 33 2.60% $7,400
    NEWREZ LLC 31 2.77% $3,181
    VAN DYK MORTGAGE CORPORATION 29 3.05% $9,451
    NUSENDA 28 2.97% $5,598
    PENTAGON FEDERAL CREDIT UNION 28 2.33% $2,375
    NBKC BANK 25 2.49% $6,674
    PLAZA HOME MORTGAGE, INC. 24 2.65% $5,110
    NP, Inc. 24 2.34% $4,542
    Magnolia Bank 22 2.49% $7,543
    PLANET HOME LENDING, LLC 21 2.52% $3,705
    ACCELERATE MORTGAGE, LLC 20 2.22% $5,672
    AMERISAVE MORTGAGE CORPORATION 20 2.55% $6,902
    Carrington Mortgage Services, LLC 18 2.90% $4,235
    CROSSCOUNTRY MORTGAGE, LLC 18 2.97% $7,299
    Wallick & Volk, Inc. 17 3.14% $7,980
    Commerce Home Mortgage, Inc. 17 2.96% $6,387
    Flagstar Bank, FSB 16 2.66% $4,585
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 3.02% $7,803
    AMERICAN PACIFIC MORTGAGE CORPORATION 15 3.00% $8,085
    MID AMERICA MORTGAGE, INC. 15 2.61% $2,651
    Sunflower Bank 15 3.00% $6,301
    Bell Bank 14 2.63% $5,922
    CONTOUR MORTGAGE CORPORATION 14 2.63% $4,558
    Amerifirst Financial, Inc. 14 2.86% $5,575
    MORTGAGE SOLUTIONS OF COLORADO, LLC 13 3.20% $5,581
    Neighborhood Loans, Inc. 13 3.02% $10,979
    First Guaranty Mortgage Corporation 12 2.43% $4,961
    SOVEREIGN LENDING GROUP INCORPORATED 12 2.59% $7,107
    SANDIA AREA 12 2.69% $4,777
    MUTUAL OF OMAHA MORTGAGE, INC. 12 2.58% $5,101
    Gateway First Bank 12 2.82% $5,929
    GUARANTEED RATE, INC. 10 2.66% $5,292
    STEARNS LENDING, LLC 10 2.81% $6,869
    AMCAP MORTGAGE, LTD. 9 2.97% $8,505
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.04% $7,535
    AMERICAN FINANCING CORPORATION 9 2.62% $5,064
    First Home Bank 9 2.31% $3,545
    North American Savings Bank, F.S.B. 8 2.42% $4,716
    Goldwater Bank, N.A. 7 2.50% $5,846
    SUN WEST MORTGAGE COMPANY, INC. 7 2.41% $2,327
    BNC National Bank 6 2.31% $3,997
    First Federal Bank 6 3.52% $7,192
    KS StateBank 6 2.50% $5,340
    Mid-Continent Funding, Inc. 6 2.73% $5,778
    NTFN, INC. 6 2.92% $10,714
    Strong Home Mortgage, LLC 5 2.33% $4,181
    FIRST COMMUNITY MORTGAGE, INC. 5 2.53% $7,297
    PANORAMA MORTGAGE GROUP, LLC 5 3.18% $11,393
    Loan Simple, Inc. 5 3.15% $12,047
    BKCO MORTGAGE, LLC 5 2.95% $8,777
    UNION HOME MORTGAGE CORP. 4 2.63% $10,040
    Century Mortgage Company DBA Century Lending Company 4 2.63% $6,776
    SOUTHWEST FUNDING, LP 4 3.38% $9,435
    V.I.P. MORTGAGE, INC. 4 2.63% $3,991
    Nations Lending Corporation 4 2.69% $5,464
    MOUNTAIN AMERICA 4 2.25% $3,959
    Armed Forces Bank 4 2.31% $7,759
    ZILLOW HOME LOANS, LLC 3 2.63% $8,757
    U.S. Bank 3 3.00% $12,385
    PHH Mortgage Corporation 3 3.54% $3,020
    M&T Bank 3 2.83% $4,811
    SIRVA MORTGAGE, INC. 3 2.92% $7,485
    Truist 2 2.73% $1,667
    KELLER MORTGAGE, LLC 2 2.75% $5,342
    Wyndham Capital Mortgage, Inc. 2 2.25% $5,315
    JAMES B. NUTTER & COMPANY 2 2.75% $2,792
    MOVEMENT MORTGAGE, LLC 2 2.81% $6,419
    Home Mortgage Alliance Corp 2 2.44% $6,134
    NETWORK CAPITAL FUNDING CORPORATION 2 2.44% $2,422
    GUARANTEED RATE AFFINITY, LLC 2 2.25% $4,089
    First Savings Bank 2 3.00% $4,417
    Paramount Bank 2 2.44% $2,570
    First National Bank 2 2.44% $3,584
    First Midwest Bank 2 2.38% $4,698
    EVERETT FINANCIAL, INC. 2 2.88% $2,049
    Prime Choice Funding Inc. 2 2.38% $2,090
    EMBRACE HOME LOANS, INC. 2 2.56% $6,901
    RELIANCE FIRST CAPITAL, LLC 2 2.63% $10,884
    SECURITYNATIONAL MORTGAGE COMPANY 2 3.69% $9,309
    CELEBRITY HOME LOANS, LLC 2 3.19% $8,133
    The Central Trust Bank 2 2.25% $6,561
    LEADERONE FINANCIAL CORPORATION 2 2.50% $9,395
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.50% $950
    Watermark Capital, Inc. 1 2.38% $4,727
    RESIDENTIAL BANCORP. 1 2.25% $3,273
    Colonial Savings, F.A. 1 2.63% $3,470
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.00% $11,892
    First National Bank Texas 1 3.00% $6,817
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.63% $2,758
    SOUTHWEST STAGE FUNDING, LLC 1 3.25% $2,854
    Citibank 1 2.88% $13,072
    Northpointe Bank 1 3.13% $13,593
    First State Bank 1 2.38% $2,770
    SUBURBAN MORTGAGE, INC. 1 2.99% $8,544
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $3,324
    Capital Bank 1 2.25% $2,075
    Texana Bank 1 2.50% $5,379
    InterContinental Capital Group, Inc 1 2.75% $2,505
    Franklin Loan Corporation 1 2.75% $3,985
    Meridian Bank Corporation 1 2.25% $5,910
    UMB Bank 1 2.25% $2,503
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.38% $26,524
    Union Savings Bank 1 2.25% $8,138
    BELEM SERVICING LLC 1 2.63% $10,699
    UNIVERSAL LENDING CORPORATION 1 3.00% $10,795
    Bank of the West 1 3.88% $3,848
    HOMESIDE FINANCIAL, LLC 1 2.25% $20,493
    Bank of England 1 2.25% $7,301
    ONE NEVADA CREDIT UNION 1 2.25% $5,351
    FirstBank 1 2.25% $2,917
    First American Bank 1 2.25% $6,996
    PREMIA MORTGAGE, LLC 1 2.25% $9,040
    Arvest Bank 1 2.75% $3,008
    HOMESPIRE MORTGAGE CORPORATION 1 3.00% $7,357
    Equity Prime Mortgage LLC 1 3.63% $8,784
    HOMESTEAD FUNDING CORP. 1 2.50% $3,012

    The top Albuquerque VA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 486 VA loans originated. Their average total fees are $2,751, which is $2,439 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Albuquerque VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION ($2,375), MID AMERICA MORTGAGE, INC. ($2,651), FREEDOM MORTGAGE CORPORATION ($2,751), LAKEVIEW LOAN SERVICING, LLC ($3,006) and NEWREZ LLC ($3,181).

    The lowest rate Albuquerque VA lenders (with over 10 loans originated) are ACCELERATE MORTGAGE, LLC (2.22%), CLEARPATH LENDING (2.32%), PENTAGON FEDERAL CREDIT UNION (2.33%), NP, Inc. (2.34%) and HOME POINT FINANCIAL CORPORATION (2.38%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Albuquerque (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 $239,000 (3.9%) $309,398 (2.7%) 0.89 2,764
    2018-02-01 $242,900 (2.9%) $316,882 (4.0%) 0.88 2,688
    2018-03-01 $245,000 (2.1%) $322,196 (5.2%) 0.86 2,614
    2018-04-01 $250,000 (2.2%) $325,360 (4.3%) 0.85 2,726
    2018-05-01 $258,838 (4.0%) $327,541 (3.4%) 0.86 2,915
    2018-06-01 $259,900 (4.0%) $326,481 (2.0%) 0.87 3,143
    2018-07-01 $252,450 (1.4%) $320,215 (-0.4%) 0.84 3,328
    2018-08-01 $249,945 (2.0%) $315,379 (-1.9%) 0.84 3,385
    2018-09-01 $246,890 (1.8%) $313,823 (-1.5%) 0.83 3,329
    2018-10-01 $248,079 (3.4%) $318,151 (0.3%) 0.84 3,307
    2018-11-01 $249,500 (4.0%) $316,478 (1.5%) 0.85 3,106
    2018-12-01 $249,000 (5.3%) $314,652 (1.2%) 0.86 2,839
    2019-01-01 $247,850 (3.7%) $314,277 (1.6%) 0.86 2,466
    2019-02-01 $250,486 (3.1%) $323,390 (2.1%) 0.85 2,368
    2019-03-01 $261,766 (6.8%) $336,455 (4.4%) 0.86 2,287
    2019-04-01 $269,794 (7.9%) $344,486 (5.9%) 0.86 2,314
    2019-05-01 $269,948 (4.3%) $346,507 (5.8%) 0.84 2,440
    2019-06-01 $273,500 (5.2%) $349,699 (7.1%) 0.85 2,633
    2019-07-01 $272,023 (7.8%) $349,402 (9.1%) 0.85 2,658
    2019-08-01 $272,669 (9.1%) $349,675 (10.9%) 0.86 2,647
    2019-09-01 $270,605 (9.6%) $349,018 (11.2%) 0.87 2,634
    2019-10-01 $269,229 (8.5%) $348,197 (9.4%) 0.87 2,619
    2019-11-01 $269,000 (7.8%) $345,078 (9.0%) 0.88 2,402
    2019-12-01 $267,450 (7.4%) $346,044 (10.0%) 0.89 2,087
    2020-01-01 $270,750 (9.2%) $352,742 (12.2%) 0.90 1,793
    2020-02-01 $280,030 (11.8%) $361,726 (11.9%) 0.92 1,723
    2020-03-01 $289,025 (10.4%) $368,702 (9.6%) 0.91 1,686
    2020-04-01 $287,572 (6.6%) $361,909 (5.1%) 0.90 1,785
    2020-05-01 $300,000 (11.1%) $373,028 (7.7%) 0.91 1,708
    2020-06-01 $315,975 (15.5%) $393,613 (12.6%) 0.93 1,480
    2020-07-01 $313,500 (15.3%) $390,611 (11.8%) 0.91 1,368
    2020-08-01 $319,900 (17.3%) $397,251 (13.6%) 0.92 1,343
    2020-09-01 $316,910 (17.1%) $394,566 (13.1%) 0.91 1,318
    2020-10-01 $307,829 (14.3%) $392,749 (12.8%) 0.88 1,306
    2020-11-01 $305,000 (13.4%) $384,135 (11.3%) 0.89 1,283
    2020-12-01 $308,679 (15.4%) $390,920 (13.0%) 0.92 1,067
    2021-01-01 $310,000 (14.5%) $396,016 (12.3%) 0.93 865
    2021-02-01 $315,000 (12.5%) $395,909 (9.5%) 0.92 758
    2021-03-01 $317,500 (9.9%) $401,857 (9.0%) 0.90 717
    2021-04-01 $324,747 (12.9%) $420,393 (16.2%) 0.88 702
    2021-05-01 $329,000 (9.7%) $431,155 (15.6%) 0.87 736
    2021-06-01 $343,816 (8.8%) $434,610 (10.4%) 0.91 876
    2021-07-01 $339,500 (8.3%) $432,721 (10.8%) 0.89 973
    2021-08-01 $339,950 (6.3%) $438,555 (10.4%) 0.91 1,015
    2021-09-01 $345,000 (8.9%) $448,238 (13.6%) 0.92 1,041
    2021-10-01 $359,900 (16.9%) $460,826 (17.3%) 0.96 967
    2021-11-01 $359,498 (17.9%) $464,344 (20.9%) 0.96 848
    2021-12-01 $350,000 (13.4%) $458,972 (17.4%) 0.95 702
    2022-01-01 $368,920 (19.0%) $465,630 (17.6%) 1.00 608
    2022-02-01 $369,928 (17.4%) $476,805 (20.4%) 0.96 580
    2022-03-01 $367,323 (15.7%) $474,050 (18.0%) 0.92 566
    2022-04-01 $375,000 (15.5%) $484,310 (15.2%) 0.90 615
    2022-05-01 $392,375 (19.3%) $482,286 (11.9%) 0.90 799
    2022-06-01 $392,400 (14.1%) $477,958 (10.0%) 0.87 1,012
    2022-07-01 $390,000 (14.9%) $484,642 (12.0%) 0.88 1,263
    2022-08-01 $392,500 (15.5%) $487,331 (11.1%) 0.91 1,311
    2022-09-01 $385,000 (11.6%) $480,389 (7.2%) 0.90 1,411
    2022-10-01 $385,000 (7.0%) $485,209 (5.3%) 0.91 1,437
    2022-11-01 $377,695 (5.1%) $479,981 (3.4%) 0.91 1,469
    Albuquerque's median listing price for 2022-11-01 was $377,695, a difference of $18,197 (5.1%) versus the prior year and $-7,305 versus the prior month.

    Albuquerque's median listing price comes in at 91% of the national average.

    Albuquerque's average listing price for 2022-11-01 was $479,981, a difference of $15,637 (3.4%) versus the prior year and $-5,228 versus the prior month.

    For the 2022-11-01 period, Albuquerque had 1,469 MLS listings, a difference of 32 listings (2%) versus the prior month and 621 listings (73%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albuquerque (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,994 sqft
    2018-02-01 65 days 2,023 sqft
    2018-03-01 51 days 2,053 sqft
    2018-04-01 47 days 2,075 sqft
    2018-05-01 46 days 2,078 sqft
    2018-06-01 48 days 2,078 sqft
    2018-07-01 51 days 2,057 sqft
    2018-08-01 54 days 2,037 sqft
    2018-09-01 59 days 2,018 sqft
    2018-10-01 60 days 2,020 sqft
    2018-11-01 63 days 2,019 sqft
    2018-12-01 70 days 2,020 sqft
    2019-01-01 72 days 2,009 sqft
    2019-02-01 64 days 2,022 sqft
    2019-03-01 55 days 2,080 sqft
    2019-04-01 47 days 2,121 sqft
    2019-05-01 50 days 2,116 sqft
    2019-06-01 52 days 2,110 sqft
    2019-07-01 47 days 2,095 sqft
    2019-08-01 49 days 2,087 sqft
    2019-09-01 52 days 2,068 sqft
    2019-10-01 56 days 2,068 sqft
    2019-11-01 67 days 2,038 sqft
    2019-12-01 78 days 2,034 sqft
    2020-01-01 77 days 2,053 sqft
    2020-02-01 63 days 2,092 sqft
    2020-03-01 51 days 2,077 sqft
    2020-04-01 53 days 2,050 sqft
    2020-05-01 57 days 2,100 sqft
    2020-06-01 65 days 2,146 sqft
    2020-07-01 63 days 2,125 sqft
    2020-08-01 54 days 2,153 sqft
    2020-09-01 56 days 2,136 sqft
    2020-10-01 52 days 2,099 sqft
    2020-11-01 57 days 2,064 sqft
    2020-12-01 62 days 2,094 sqft
    2021-01-01 74 days 2,075 sqft
    2021-02-01 71 days 2,015 sqft
    2021-03-01 59 days 2,039 sqft
    2021-04-01 53 days 2,051 sqft
    2021-05-01 43 days 2,052 sqft
    2021-06-01 34 days 2,047 sqft
    2021-07-01 37 days 2,000 sqft
    2021-08-01 42 days 2,015 sqft
    2021-09-01 49 days 2,018 sqft
    2021-10-01 55 days 2,095 sqft
    2021-11-01 65 days 2,033 sqft
    2021-12-01 60 days 1,977 sqft
    2022-01-01 72 days 2,003 sqft
    2022-02-01 39 days 1,973 sqft
    2022-03-01 37 days 2,000 sqft
    2022-04-01 33 days 2,000 sqft
    2022-05-01 30 days 2,048 sqft
    2022-06-01 30 days 2,040 sqft
    2022-07-01 34 days 2,070 sqft
    2022-08-01 45 days 2,083 sqft
    2022-09-01 53 days 2,049 sqft
    2022-10-01 58 days 2,026 sqft
    2022-11-01 62 days 2,015 sqft
    Albuquerque's median listing age (time on market) for 2022-11-01 was 62 days. This is -5% shorter than the same period one year ago.

    Albuquerque's median square footage for active listings during the 2022-11-01 period was 2,015 sqft. One year prior, the average listing was 2,033 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.