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 138 lenders originated 2,527 VA loans during 2022. The total origination value was $834,685,000, with an average VA loan value of $330,307.

Albuquerque VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Albuquerque averaged -0.25% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Albuquerque's average VA mortgage closing costs are $6,260.

The average rate for the prior week (2024-02-16) was 6.32% and one month ago for the week of 2024-01-19, the average rate was 5.98%.

The average rate one year ago was 5.89%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.49%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 256 5.07% $8,651
QUICKEN LOANS, LLC 170 4.07% $12,819
UNITED WHOLESALE MORTGAGE, LLC 153 4.30% $8,234
Waterstone Mortgage Corporation 113 5.00% $11,931
LOANDEPOT.COM, LLC 103 4.11% $10,381
USAA Federal Savings Bank 100 4.32% $8,541
NAVY FEDERAL CREDIT UNION 87 4.11% $7,098
FREEDOM MORTGAGE CORPORATION 87 4.12% $11,234
PENNYMAC LOAN SERVICES, LLC 70 3.34% $10,012
PRIMARY RESIDENTIAL MORTGAGE, INC. 68 4.95% $10,637
LEGACY MORTGAGE LLC 62 4.81% $12,247
DHI MORTGAGE COMPANY, LTD. 57 4.19% $9,960
CMG MORTGAGE, INC. 48 4.78% $9,714
NEW DAY FINANCIAL, LLC 48 4.89% $11,914
PULTE MORTGAGE LLC 47 4.73% $8,338
MORTGAGE SOLUTIONS OF COLORADO, LLC 46 5.24% $9,382
BOKF 41 4.70% $12,422
The Federal Savings Bank 40 4.92% $13,782
FINANCE OF AMERICA MORTGAGE LLC 37 4.69% $10,880
Mr. Cooper ( Nationstar Mortgage ) 32 5.04% $11,291
CALCON MUTUAL MORTGAGE LLC 28 4.87% $8,502
Century Mortgage Company DBA Century Lending Company 27 4.74% $10,161
CARDINAL FINANCIAL 26 5.07% $16,735
HOMEBRIDGE FINANCIAL SERVICES, INC. 25 4.44% $11,888
Plains Commerce Bank 25 4.28% $10,107
GUILD MORTGAGE COMPANY 24 5.03% $11,936
LOANPAL, LLC 23 3.39% $14,670
AMERISAVE MORTGAGE CORPORATION 19 4.34% $14,158
Flagstar Bank, FSB 18 4.18% $10,605
NUSENDA 17 4.24% $7,348
GUARANTEED RATE, INC. 17 5.44% $7,837
CALIBER HOME LOANS, INC. 16 3.52% $10,084
Wells Fargo Bank 13 4.12% $7,198
CLEARPATH LENDING 13 3.58% $11,427
Amerifirst Financial, Inc. 13 5.25% $6,927
LAKEVIEW LOAN SERVICING, LLC 13 3.79% $6,098
BROKER SOLUTIONS, INC. 12 4.39% $8,504
HOMETRUST MORTGAGE COMPANY 12 5.04% $10,404
BAY EQUITY LLC 12 4.62% $8,123
MOVEMENT MORTGAGE, LLC 12 5.39% $9,534
Low VA Rates, LLC 11 4.59% $14,678
Carrington Mortgage Services, LLC 11 4.15% $13,761
PLAZA HOME MORTGAGE, INC. 11 4.67% $10,797
PENTAGON FEDERAL CREDIT UNION 11 3.09% $12,519
Barrington Bank & Trust Company, N.A. 11 4.44% $12,485
VAN DYK MORTGAGE CORPORATION 11 5.15% $8,482
HOME POINT FINANCIAL CORPORATION 11 4.51% $9,837
Magnolia Bank 11 4.41% $16,454
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 4.45% $9,641
AMERICAN PACIFIC MORTGAGE CORPORATION 10 4.41% $12,148
ACADEMY MORTGAGE CORPORATION 10 5.04% $8,350
Nations Lending Corporation 9 5.46% $7,715
Bell Bank 9 4.63% $6,483
NEWREZ LLC 9 4.15% $11,237
PLANET HOME LENDING, LLC 9 4.50% $10,829
CROSSCOUNTRY MORTGAGE, LLC 9 4.89% $10,348
Kirtland Federal Credit Union 8 5.28% $9,731
Sunflower Bank 8 4.57% $10,645
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 4.50% $12,110
Neighborhood Loans, Inc. 7 4.02% $18,973
Commerce Home Mortgage, Inc. 7 4.64% $11,070
NBKC BANK 7 4.48% $8,082
AMERICAN FINANCING CORPORATION 6 3.54% $6,782
AMCAP MORTGAGE, LTD. 6 5.13% $15,989
BNC National Bank 6 3.50% $10,269
VILLAGE CAPITAL MORTGAGE 6 4.42% $11,028
SECURITYNATIONAL MORTGAGE COMPANY 6 5.42% $14,302
Wallick & Volk, Inc. 5 5.63% $10,692
U.S. Bank 5 4.07% $6,650
PNC Bank 5 4.23% $7,865
RELIANCE FIRST CAPITAL, LLC 5 4.75% $5,918
SOVEREIGN LENDING GROUP INCORPORATED 4 4.25% $14,048
Equity Prime Mortgage LLC 4 6.13% $12,712
EVERETT FINANCIAL, INC. 4 4.13% $5,770
Mid-Continent Funding, Inc. 4 4.31% $11,488
SANDIA AREA 4 5.13% $14,004
AMERICAN FINANCIAL RESOURCES, INC. 3 4.54% $6,903
North American Savings Bank, F.S.B. 3 4.25% $8,544
MUTUAL OF OMAHA MORTGAGE, INC. 3 4.58% $8,344
HOMESPIRE MORTGAGE CORPORATION 3 3.96% $24,918
NTFN, INC. 3 4.25% $4,500
Academy Bank 3 4.63% $13,518
Strong Home Mortgage, LLC 3 2.62% $2,404
UNION HOME MORTGAGE CORP. 2 5.75% $21,924
Gateway First Bank 2 5.25% $4,290
DIRECTORS MORTGAGE, INC. 2 6.75% $11,328
Armed Forces Bank 2 5.44% $6,861
CONTOUR MORTGAGE CORPORATION 2 3.00% $18,803
NBH Bank 2 3.87% $11,637
MID AMERICA MORTGAGE, INC. 2 5.13% $7,125
Servion, Inc. 2 6.69% $4,064
HOMESTEAD FUNDING CORP. 2 3.25% $10,298
SUN WEST MORTGAGE COMPANY, INC. 2 3.67% $13,145
Texana Bank 2 4.69% $12,024
Goldwater Bank, N.A. 2 3.31% $4,738
CHURCHILL MORTGAGE CORPORATION 2 4.31% $10,114
First Bank 1 5.25% $14,433
First American Bank 1 3.75% $3,583
Evolve Bank & Trust 1 6.25% $23,887
PREMIA MORTGAGE, LLC 1 5.75% $2,336
Presidential Bank, FSB 1 5.13% $5,575
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $22,565
EMBRACE HOME LOANS, INC. 1 2.75% $6,075
DAS Acquisition Company, LLC 1 5.63% $12,198
Cornerstone First Mortgage, Inc 1 5.75% $18,841
ROYAL UNITED MORTGAGE LLC 1 5.75% $16,545
Wyndham Capital Mortgage, Inc. 1 4.75% $8,471
Service Federal Credit Union 1 6.13% $3,383
SUN AMERICAN MORTGAGE COMPANY 1 6.25% $6,709
Community First National Bank 1 5.63% $8,548
The Central Trust Bank 1 3.88% $6,696
CHERRY CREEK MORTGAGE, LLC 1 7.13% $16,809
Capital Bank 1 4.00% $18,956
Bank of England 1 4.63% $4,581
Arvest Bank 1 3.38% $3,064
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.75% $8,392
AmeriHome Mortgage Company, LLC 1 6.38% $6,814
MANN FINANCIAL INC. 1 5.75% $11,969
Meridian Bank Corporation 1 3.25% $29,877
MORTGAGEONE, INC. 1 6.25% $443
LEADERONE FINANCIAL CORPORATION 1 6.99% $16,783
LADERA LENDING, INC. 1 2.75% $6,607
KELLER MORTGAGE, LLC 1 5.25% $5,772
JPMorgan Chase Bank 1 4.75% $18,634
M&T Bank 1 3.75% $11,718
Mutual Federal Bank 1 4.25% $7,439
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $7,842
HOMESIDE FINANCIAL, LLC 1 2.75% $4,263
HANCOCK MORTGAGE PARTNERS, LLC 1 3.25% $14,052
NFM, INC. 1 6.75% $3,642
Northpointe Bank 1 5.25% $0
First Savings Bank 1 2.75% $9,534
OPEN MORTGAGE, LLC 1 3.75% $21,753
PANORAMA MORTGAGE GROUP, LLC 1 5.25% $0
Paramount Residential Mortgage Group, Inc. 1 4.63% $8,274
First Federal Bank of Kansas City 1 5.13% $159
First Federal Bank 1 3.88% $13,694
FIRST COMMUNITY MORTGAGE, INC. 1 3.75% $4,794

The top Albuquerque VA lender as defined by loan originations is Mortgage Research Center, LLC, with 256 VA loans originated. Their average total fees are $8,651, which is $4,168 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Albuquerque VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,098), Amerifirst Financial, Inc. ($6,927), NAVY FEDERAL CREDIT UNION ($7,098), Wells Fargo Bank ($7,198) and NUSENDA ($7,348).

The lowest rate Albuquerque VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.09%), PENNYMAC LOAN SERVICES, LLC (3.34%), LOANPAL, LLC (3.39%), CALIBER HOME LOANS, INC. (3.52%) and CLEARPATH LENDING (3.58%).


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
Albuquerque's median listing price for 2023-12-01 was $399,500, a difference of $24,500 (6.5%) versus the prior year and $1,000 versus the prior month.

Albuquerque's median listing price comes in at 97% of the national average.

Albuquerque's average listing price for 2023-12-01 was $496,016, a difference of $9,242 (1.9%) versus the prior year and $6,883 versus the prior month.

For the 2023-12-01 period, Albuquerque had 1,376 MLS listings, a difference of -64 listings (-4%) versus the prior month and 149 listings (12%) 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
Albuquerque's median listing age (time on market) for 2023-12-01 was 64 days. This is -4% shorter than the same period one year ago.

Albuquerque's median square footage for active listings during the 2023-12-01 period was 2,010 sqft. One year prior, the average listing was 2,003 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.