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 117 lenders originated 1,673 VA loans during 2023. The total origination value was $597,025,000, with an average VA loan value of $356,859.

    Albuquerque VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Albuquerque averaged 6.16% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Albuquerque's average VA mortgage closing costs are $6,616.

    The average rate for the prior week (2024-11-01) was 6.32% and one month ago for the week of 2024-10-04, the average rate was 5.75%.

    The average rate one year ago was 7.3%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.69%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 201 6.61% $8,825
    Waterstone Mortgage Corporation 114 6.43% $11,721
    UNITED WHOLESALE MORTGAGE, LLC 106 6.30% $9,302
    QUICKEN LOANS, LLC 90 6.08% $11,956
    NAVY FEDERAL CREDIT UNION 87 5.72% $8,584
    DHI MORTGAGE COMPANY, LTD. 85 5.33% $7,919
    LOANDEPOT.COM, LLC 60 6.02% $10,619
    PRIMARY RESIDENTIAL MORTGAGE, INC. 51 6.49% $12,254
    GUILD MORTGAGE COMPANY 47 6.52% $12,448
    USAA Federal Savings Bank 44 6.29% $9,672
    PULTE MORTGAGE LLC 41 5.63% $9,793
    FREEDOM MORTGAGE CORPORATION 33 6.58% $15,472
    PENNYMAC LOAN SERVICES, LLC 28 5.43% $9,034
    MORTGAGE SOLUTIONS OF COLORADO, LLC 27 7.26% $9,008
    The Federal Savings Bank 26 6.47% $18,918
    NEW DAY FINANCIAL, LLC 25 7.65% $12,779
    GUARANTEED RATE, INC. 25 6.06% $7,210
    CARDINAL FINANCIAL 22 6.62% $13,062
    BOKF 20 6.33% $14,449
    HOMETRUST MORTGAGE COMPANY 19 6.56% $11,344
    DIRECTORS MORTGAGE, INC. 18 6.66% $14,329
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 6.49% $11,523
    CMG MORTGAGE, INC. 16 6.52% $12,385
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 6.26% $8,215
    Plains Commerce Bank 13 6.27% $14,060
    VILLAGE CAPITAL MORTGAGE 13 6.27% $10,867
    Nations Lending Corporation 12 6.42% $13,095
    PENTAGON FEDERAL CREDIT UNION 12 5.77% $8,896
    Mr. Cooper ( Nationstar Mortgage ) 11 6.34% $15,069
    CALCON MUTUAL MORTGAGE LLC 11 6.59% $9,789
    Century Mortgage Company DBA Century Lending Company 10 5.75% $16,323
    Magnolia Bank 10 6.26% $14,898
    PLAZA HOME MORTGAGE, INC. 9 6.90% $7,513
    MID AMERICA MORTGAGE, INC. 9 6.57% $5,857
    UNION HOME MORTGAGE CORP. 9 6.03% $14,256
    Barrington Bank & Trust Company, N.A. 9 6.64% $9,829
    Sunflower Bank 9 6.51% $13,411
    Equity Prime Mortgage LLC 9 6.76% $5,322
    BROKER SOLUTIONS, INC. 8 6.48% $16,704
    AMERICAN PACIFIC MORTGAGE CORPORATION 8 6.64% $11,241
    CROSSCOUNTRY MORTGAGE, LLC 8 6.75% $11,392
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.30% $9,832
    ACADEMY MORTGAGE CORPORATION 7 6.63% $14,414
    NBKC BANK 7 6.11% $8,256
    EVERETT FINANCIAL, INC. 6 6.54% $9,795
    U.S. Bank 6 6.33% $10,332
    SUN WEST MORTGAGE COMPANY, INC. 6 6.69% $8,958
    AMERISAVE MORTGAGE CORPORATION 6 5.90% $17,348
    MASON MCDUFFIE MORTGAGE CORPORATION 6 6.88% $15,946
    PLANET HOME LENDING, LLC 5 6.30% $7,624
    VAN DYK MORTGAGE CORPORATION 5 7.08% $12,355
    Sierra Pacific Mortgage Company, Inc. 5 6.60% $7,212
    Wallick & Volk, Inc. 5 6.28% $11,014
    AMCAP MORTGAGE, LTD. 5 6.63% $15,959
    LOANPAL, LLC 5 6.08% $12,396
    Flagstar Bank, FSB 5 6.73% $8,519
    Gateway First Bank 4 7.13% $7,850
    FIRST COMMUNITY MORTGAGE, INC. 4 6.31% $7,605
    SOVEREIGN LENDING GROUP INCORPORATED 4 5.66% $13,802
    HOMEAMERICAN MORTGAGE CORPORATION 4 5.09% $6,535
    Bell Bank 4 6.81% $7,925
    Neighborhood Loans, Inc. 4 6.75% $12,082
    NUSENDA 3 6.75% $7,835
    First Federal Bank 3 6.96% $9,096
    Kirtland Federal Credit Union 3 6.63% $9,434
    LAKEVIEW LOAN SERVICING, LLC 3 6.04% $14,630
    Mid-Continent Funding, Inc. 3 6.08% $12,038
    MUTUAL OF OMAHA MORTGAGE, INC. 3 7.25% $14,017
    NTFN, INC. 3 6.38% $3,320
    BAY EQUITY LLC 3 6.29% $8,032
    SIRVA MORTGAGE, INC. 3 5.96% $11,172
    Wells Fargo Bank 3 6.00% $6,656
    JPMorgan Chase Bank 2 5.93% $3,607
    AMERICAN FINANCING CORPORATION 2 5.75% $17,892
    Prosperity Home Mortgage, LLC 2 5.25% $9,854
    AMERICAN FINANCIAL NETWORK, INC. 2 6.44% $14,575
    Commerce Home Mortgage, Inc. 2 6.25% $19,731
    DRAPER AND KRAMER MORTGAGE CORP. 2 5.81% $26,222
    VERITAS FUNDING, LLC 2 6.50% $28,304
    GUARANTEED RATE AFFINITY, LLC 2 6.20% $14,188
    RELIANCE FIRST CAPITAL, LLC 2 6.56% $8,384
    MOVEMENT MORTGAGE, LLC 2 7.25% $9,356
    SECURITYNATIONAL MORTGAGE COMPANY 2 6.50% $26,604
    The Central Trust Bank 2 5.25% $10,191
    Farmers Bank & Trust 2 5.88% $8,529
    CONTOUR MORTGAGE CORPORATION 2 5.63% $12,097
    Bank of America 1 7.63% $2,396
    Servion, Inc. 1 6.13% $13,158
    Ixonia Bank 1 5.75% $12,546
    Wyndham Capital Mortgage, Inc. 1 6.25% $12,013
    FIDELITY BANK 1 5.25% $12,563
    Strong Home Mortgage, LLC 1 5.99% $9,436
    NBH Bank 1 5.75% $13,762
    HOMESTEAD FUNDING CORP. 1 6.50% $6,470
    HOMESTAR FINANCIAL CORPORATION 1 5.25% $8,924
    Truist 1 5.88% $3,172
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $4,113
    HOMESIDE FINANCIAL, LLC 1 7.75% $22,883
    First United Bank and Trust Company 1 6.38% $5,420
    V.I.P. MORTGAGE, INC. 1 5.63% $4,866
    CORNERSTONE HOME LENDING, INC. 1 5.75% $7,196
    GENEVA FINANCIAL, LLC 1 6.13% $25,107
    Core Bank 1 6.75% $10,434
    Armed Forces Bank 1 6.50% $13,465
    MORTGAGEONE, INC. 1 7.00% $11,168
    Community First National Bank 1 6.50% $4,312
    NEWREZ LLC 1 6.63% $11,906
    North American Savings Bank, F.S.B. 1 6.25% $10,430
    ALLIANT CREDIT UNION 1 6.00% $2,835
    Evolve Bank & Trust 1 5.75% $6,357
    Paramount Residential Mortgage Group, Inc. 1 6.75% $8,386
    CASTLE & COOKE MORTGAGE, LLC 1 6.13% $5,833
    Carrington Mortgage Services, LLC 1 5.13% $13,001
    MICHIGAN MUTUAL, INC. 1 7.75% $16,840
    Capital Bank 1 6.25% $4,626
    PREMIA MORTGAGE, LLC 1 5.50% $1,897
    ZILLOW HOME LOANS, LLC 1 6.63% $17,446

    The top Albuquerque VA lender as defined by loan originations is Mortgage Research Center, LLC, with 201 VA loans originated. Their average total fees are $8,825, which is $2,897 lower than the next largest lender, Waterstone Mortgage Corporation.

    The lowest fee Albuquerque VA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($7,210), DHI MORTGAGE COMPANY, LTD. ($7,919), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,215), NAVY FEDERAL CREDIT UNION ($8,584) and Mortgage Research Center, LLC ($8,825).

    The lowest rate Albuquerque VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.33%), PENNYMAC LOAN SERVICES, LLC (5.43%), PULTE MORTGAGE LLC (5.63%), NAVY FEDERAL CREDIT UNION (5.72%) and Century Mortgage Company DBA Century Lending Company (5.75%).

    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 (2.6%) 0.89 2,764
    2018-02-01 $242,900 (2.9%) $316,882 (3.8%) 0.88 2,688
    2018-03-01 $245,000 (2.1%) $322,196 (5.0%) 0.86 2,614
    2018-04-01 $250,000 (2.2%) $325,360 (4.2%) 0.85 2,726
    2018-05-01 $258,838 (4.0%) $327,541 (3.3%) 0.86 2,915
    2018-06-01 $259,900 (4.0%) $326,481 (1.7%) 0.87 3,143
    2018-07-01 $252,450 (1.4%) $320,215 (-0.7%) 0.84 3,328
    2018-08-01 $249,945 (2.0%) $315,470 (-2.2%) 0.84 3,385
    2018-09-01 $246,895 (1.7%) $313,914 (-1.6%) 0.83 3,330
    2018-10-01 $248,079 (3.4%) $318,151 (0.1%) 0.84 3,307
    2018-11-01 $249,500 (4.0%) $316,601 (1.3%) 0.85 3,106
    2018-12-01 $249,000 (5.1%) $314,653 (1.0%) 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 $261,745 (6.8%) $336,380 (4.4%) 0.86 2,286
    2019-04-01 $269,850 (7.9%) $344,436 (5.9%) 0.86 2,311
    2019-05-01 $269,945 (4.3%) $346,574 (5.8%) 0.84 2,430
    2019-06-01 $273,500 (5.2%) $349,731 (7.1%) 0.85 2,623
    2019-07-01 $272,450 (7.9%) $349,829 (9.3%) 0.85 2,648
    2019-08-01 $273,427 (9.4%) $350,050 (11.0%) 0.87 2,637
    2019-09-01 $271,218 (9.9%) $349,311 (11.3%) 0.87 2,622
    2019-10-01 $269,745 (8.7%) $348,211 (9.5%) 0.87 2,606
    2019-11-01 $269,000 (7.8%) $344,694 (8.9%) 0.88 2,388
    2019-12-01 $267,475 (7.4%) $344,538 (9.5%) 0.89 2,072
    2020-01-01 $271,046 (9.4%) $351,054 (11.7%) 0.91 1,777
    2020-02-01 $280,697 (12.1%) $360,132 (11.4%) 0.92 1,706
    2020-03-01 $289,400 (10.6%) $367,039 (9.1%) 0.91 1,670
    2020-04-01 $288,000 (6.7%) $361,445 (4.9%) 0.90 1,770
    2020-05-01 $300,000 (11.1%) $372,626 (7.5%) 0.91 1,693
    2020-06-01 $316,495 (15.7%) $393,346 (12.5%) 0.93 1,465
    2020-07-01 $313,605 (15.1%) $390,251 (11.6%) 0.91 1,353
    2020-08-01 $319,900 (17.0%) $396,875 (13.4%) 0.92 1,329
    2020-09-01 $317,750 (17.2%) $394,212 (12.9%) 0.91 1,304
    2020-10-01 $307,980 (14.2%) $392,516 (12.7%) 0.88 1,291
    2020-11-01 $305,000 (13.4%) $383,831 (11.4%) 0.89 1,268
    2020-12-01 $309,450 (15.7%) $390,401 (13.3%) 0.92 1,052
    2021-01-01 $310,775 (14.7%) $395,687 (12.7%) 0.93 850
    2021-02-01 $315,500 (12.4%) $395,511 (9.8%) 0.92 744
    2021-03-01 $318,500 (10.1%) $401,596 (9.4%) 0.90 703
    2021-04-01 $325,000 (12.9%) $420,196 (16.3%) 0.88 688
    2021-05-01 $329,900 (10.0%) $430,949 (15.7%) 0.88 721
    2021-06-01 $344,975 (9.0%) $434,355 (10.4%) 0.91 861
    2021-07-01 $340,000 (8.4%) $432,695 (10.9%) 0.90 959
    2021-08-01 $340,000 (6.3%) $438,447 (10.5%) 0.91 1,002
    2021-09-01 $346,184 (9.0%) $448,161 (13.7%) 0.92 1,028
    2021-10-01 $359,900 (16.9%) $460,879 (17.4%) 0.96 953
    2021-11-01 $362,450 (18.8%) $464,487 (21.0%) 0.97 833
    2021-12-01 $350,000 (13.1%) $459,248 (17.6%) 0.95 687
    2022-01-01 $369,000 (18.7%) $465,663 (17.7%) 1.00 593
    2022-02-01 $371,870 (17.9%) $477,367 (20.7%) 0.97 566
    2022-03-01 $369,595 (16.0%) $475,091 (18.3%) 0.93 550
    2022-04-01 $379,000 (16.6%) $485,254 (15.5%) 0.90 600
    2022-05-01 $393,581 (19.3%) $482,938 (12.1%) 0.90 784
    2022-06-01 $392,500 (13.8%) $478,435 (10.2%) 0.87 998
    2022-07-01 $390,000 (14.7%) $485,200 (12.1%) 0.88 1,248
    2022-08-01 $394,688 (16.1%) $487,927 (11.3%) 0.91 1,296
    2022-09-01 $385,283 (11.3%) $480,629 (7.2%) 0.90 1,396
    2022-10-01 $385,000 (7.0%) $485,713 (5.4%) 0.91 1,422
    2022-11-01 $379,000 (4.6%) $480,438 (3.4%) 0.91 1,454
    2022-12-01 $375,000 (7.1%) $486,774 (6.0%) 0.93 1,227
    2023-01-01 $377,450 (2.3%) $496,781 (6.7%) 0.94 1,067
    2023-02-01 $386,498 (3.9%) $513,554 (7.6%) 0.93 908
    2023-03-01 $399,500 (8.1%) $525,550 (10.6%) 0.94 870
    2023-04-01 $400,000 (5.5%) $528,442 (8.9%) 0.93 871
    2023-05-01 $412,920 (4.9%) $527,112 (9.2%) 0.94 912
    2023-06-01 $417,012 (6.3%) $524,218 (9.6%) 0.94 1,037
    2023-07-01 $414,495 (6.3%) $521,163 (7.4%) 0.94 1,106
    2023-08-01 $400,223 (1.4%) $510,514 (4.6%) 0.92 1,185
    2023-09-01 $399,000 (3.6%) $491,157 (2.2%) 0.93 1,309
    2023-10-01 $399,950 (3.9%) $496,992 (2.3%) 0.94 1,400
    2023-11-01 $398,500 (5.2%) $489,133 (1.8%) 0.95 1,440
    2023-12-01 $399,500 (6.5%) $496,016 (1.9%) 0.97 1,376
    2024-01-01 $410,000 (8.6%) $499,005 (0.5%) 1.00 1,185
    2024-02-01 $412,500 (6.7%) $511,875 (-0.3%) 0.99 1,122
    2024-03-01 $414,495 (3.8%) $510,977 (-2.8%) 0.98 1,132
    2024-04-01 $410,788 (2.7%) $508,645 (-3.8%) 0.96 1,271
    2024-05-01 $423,913 (2.7%) $522,158 (-0.9%) 0.96 1,391
    2024-06-01 $422,500 (1.3%) $515,724 (-1.6%) 0.95 1,509
    2024-07-01 $409,750 (-1.1%) $501,627 (-3.8%) 0.94 1,621
    2024-08-01 $400,000 (-0.1%) $487,873 (-4.4%) 0.93 1,700
    2024-09-01 $398,029 (-0.2%) $488,141 (-0.6%) 0.94 1,850
    2024-10-01 $399,900 (0.0%) $490,059 (-1.4%) 0.94 1,895
    Albuquerque's median listing price for 2024-10-01 was $399,900, a difference of $-50 (0.0%) versus the prior year and $1,871 versus the prior month.

    Albuquerque's median listing price comes in at 94% of the national average.

    Albuquerque's average listing price for 2024-10-01 was $490,059, a difference of $-6,933 (-1.4%) versus the prior year and $1,918 versus the prior month.

    For the 2024-10-01 period, Albuquerque had 1,895 MLS listings, a difference of 45 listings (2%) versus the prior month and 495 listings (35%) 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 72 days 1,994 sqft
    2018-02-01 62 days 2,023 sqft
    2018-03-01 49 days 2,053 sqft
    2018-04-01 44 days 2,075 sqft
    2018-05-01 44 days 2,078 sqft
    2018-06-01 46 days 2,078 sqft
    2018-07-01 49 days 2,057 sqft
    2018-08-01 52 days 2,037 sqft
    2018-09-01 57 days 2,018 sqft
    2018-10-01 58 days 2,020 sqft
    2018-11-01 60 days 2,019 sqft
    2018-12-01 67 days 2,020 sqft
    2019-01-01 70 days 2,009 sqft
    2019-02-01 61 days 2,022 sqft
    2019-03-01 51 days 2,080 sqft
    2019-04-01 45 days 2,120 sqft
    2019-05-01 47 days 2,116 sqft
    2019-06-01 51 days 2,110 sqft
    2019-07-01 45 days 2,096 sqft
    2019-08-01 48 days 2,088 sqft
    2019-09-01 50 days 2,068 sqft
    2019-10-01 54 days 2,068 sqft
    2019-11-01 64 days 2,039 sqft
    2019-12-01 75 days 2,034 sqft
    2020-01-01 72 days 2,053 sqft
    2020-02-01 58 days 2,093 sqft
    2020-03-01 49 days 2,078 sqft
    2020-04-01 50 days 2,050 sqft
    2020-05-01 54 days 2,100 sqft
    2020-06-01 59 days 2,147 sqft
    2020-07-01 57 days 2,126 sqft
    2020-08-01 51 days 2,153 sqft
    2020-09-01 53 days 2,137 sqft
    2020-10-01 50 days 2,099 sqft
    2020-11-01 54 days 2,064 sqft
    2020-12-01 59 days 2,095 sqft
    2021-01-01 66 days 2,078 sqft
    2021-02-01 62 days 2,015 sqft
    2021-03-01 53 days 2,041 sqft
    2021-04-01 49 days 2,050 sqft
    2021-05-01 42 days 2,052 sqft
    2021-06-01 33 days 2,047 sqft
    2021-07-01 36 days 2,000 sqft
    2021-08-01 39 days 2,016 sqft
    2021-09-01 47 days 2,018 sqft
    2021-10-01 52 days 2,092 sqft
    2021-11-01 62 days 2,033 sqft
    2021-12-01 57 days 1,976 sqft
    2022-01-01 69 days 2,001 sqft
    2022-02-01 37 days 1,973 sqft
    2022-03-01 35 days 2,000 sqft
    2022-04-01 32 days 2,000 sqft
    2022-05-01 28 days 2,049 sqft
    2022-06-01 30 days 2,038 sqft
    2022-07-01 32 days 2,070 sqft
    2022-08-01 44 days 2,083 sqft
    2022-09-01 52 days 2,048 sqft
    2022-10-01 56 days 2,025 sqft
    2022-11-01 60 days 2,015 sqft
    2022-12-01 67 days 2,003 sqft
    2023-01-01 75 days 2,004 sqft
    2023-02-01 67 days 2,030 sqft
    2023-03-01 55 days 2,034 sqft
    2023-04-01 48 days 2,067 sqft
    2023-05-01 46 days 2,093 sqft
    2023-06-01 43 days 2,085 sqft
    2023-07-01 45 days 2,073 sqft
    2023-08-01 49 days 2,022 sqft
    2023-09-01 50 days 1,999 sqft
    2023-10-01 52 days 2,045 sqft
    2023-11-01 55 days 2,028 sqft
    2023-12-01 64 days 2,010 sqft
    2024-01-01 73 days 2,022 sqft
    2024-02-01 65 days 2,028 sqft
    2024-03-01 52 days 2,026 sqft
    2024-04-01 51 days 2,010 sqft
    2024-05-01 44 days 2,081 sqft
    2024-06-01 47 days 2,046 sqft
    2024-07-01 53 days 2,014 sqft
    2024-08-01 54 days 1,998 sqft
    2024-09-01 56 days 1,967 sqft
    2024-10-01 58 days 1,986 sqft
    Albuquerque's median listing age (time on market) for 2024-10-01 was 58 days. This is 12% longer than the same period one year ago.

    Albuquerque's median square footage for active listings during the 2024-10-01 period was 1,986 sqft. One year prior, the average listing was 2,045 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.