Albuquerque VA Loan Rates, Closing Costs & Stats

ALBUQUERQUE, NM

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 6.39% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.62% and one month ago for the week of 2024-04-19, the average rate was 6.99%.

The average rate one year ago was 6.16%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.91%.

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
Albuquerque's median listing price for 2024-04-01 was $410,788, a difference of $10,788 (2.7%) versus the prior year and $-3,707 versus the prior month.

Albuquerque's median listing price comes in at 96% of the national average.

Albuquerque's average listing price for 2024-04-01 was $508,645, a difference of $-19,797 (-3.8%) versus the prior year and $-2,332 versus the prior month.

For the 2024-04-01 period, Albuquerque had 1,271 MLS listings, a difference of 139 listings (12%) versus the prior month and 400 listings (46%) 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
Albuquerque's median listing age (time on market) for 2024-04-01 was 51 days. This is 6% longer than the same period one year ago.

Albuquerque's median square footage for active listings during the 2024-04-01 period was 2,010 sqft. One year prior, the average listing was 2,067 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.