Clovis VA Loan Rates, Closing Costs & Stats

Clovis, 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.

    Clovis's 40 lenders originated 306 VA loans during 2023. The total origination value was $75,200,000, with an average VA loan value of $245,752.

    Clovis VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Clovis averaged 6.77% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Clovis's average VA mortgage closing costs are $5,883.

    The average rate for the prior week (2024-04-12) was 6.6% and one month ago for the week of 2024-03-15, the average rate was 6.46%.

    The average rate one year ago was 6.05%.

    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.

    Clovis 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 Clovis level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 61 6.59% $6,145
    PRIMARY RESIDENTIAL MORTGAGE, INC. 54 6.56% $7,860
    NBKC BANK 28 6.18% $5,991
    NAVY FEDERAL CREDIT UNION 27 5.80% $6,457
    Bell Bank 18 6.11% $6,451
    UNITED WHOLESALE MORTGAGE, LLC 15 6.36% $9,670
    USAA Federal Savings Bank 8 6.34% $7,491
    Armed Forces Bank 7 5.59% $8,766
    TEXAS TECH 6 6.48% $6,855
    PENTAGON FEDERAL CREDIT UNION 6 5.27% $7,038
    GUARANTEED RATE, INC. 5 6.88% $7,844
    Plains Commerce Bank 4 6.53% $7,333
    QUICKEN LOANS, LLC 4 7.03% $12,924
    CMG MORTGAGE, INC. 3 6.13% $10,320
    CARDINAL FINANCIAL 3 6.75% $9,070
    Mr. Cooper ( Nationstar Mortgage ) 3 6.13% $12,889
    PENNYMAC LOAN SERVICES, LLC 3 5.17% $5,753
    Paramount Bank 3 6.54% $8,642
    FREEDOM MORTGAGE CORPORATION 3 6.37% $6,775
    Prosperity Home Mortgage, LLC 3 6.88% $12,052
    Wells Fargo Bank 2 6.25% $9,228
    First Federal Bank 2 6.44% $3,372
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.75% $9,596
    NEWREZ LLC 2 6.75% $12,365
    Barrington Bank & Trust Company, N.A. 2 6.50% $7,381
    Paramount Residential Mortgage Group, Inc. 1 6.25% $9,052
    Capital Bank 1 5.50% $1,860
    MOVEMENT MORTGAGE, LLC 1 6.75% $6,226
    LOANDEPOT.COM, LLC 1 6.75% $7,077
    PREMIA MORTGAGE, LLC 1 5.75% $14,576
    BNC National Bank 1 5.50% $4,395
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $6,097
    INTERCAP LENDING INC. 1 5.13% $0
    GUILD MORTGAGE COMPANY 1 5.75% $10,620
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.50% $5,775
    Equity Prime Mortgage LLC 1 5.88% $10,882
    The Huntington National Bank 1 6.50% $12,057
    CROSSCOUNTRY MORTGAGE, LLC 1 6.99% $13,946
    Bank of England 1 6.25% $12,210
    NEW DAY FINANCIAL, LLC 1 7.75% $12,928

    The top Clovis VA lender as defined by loan originations is Mortgage Research Center, LLC, with 61 VA loans originated. Their average total fees are $6,145, which is $1,715 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

    The lowest fee Clovis VA lenders (with over 10 loans originated) are NBKC BANK ($5,991), Mortgage Research Center, LLC ($6,145), Bell Bank ($6,451), NAVY FEDERAL CREDIT UNION ($6,457) and PRIMARY RESIDENTIAL MORTGAGE, INC. ($7,860).

    The lowest rate Clovis VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.80%), Bell Bank (6.11%), NBKC BANK (6.18%), UNITED WHOLESALE MORTGAGE, LLC (6.36%) and PRIMARY RESIDENTIAL MORTGAGE, INC. (6.56%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Clovis (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 $174,900 (10.4%) $190,990 (7.6%) 0.00 314
    2018-02-01 $174,950 (6.4%) $198,694 (10.3%) 0.00 308
    2018-03-01 $175,000 (3.9%) $194,052 (5.3%) 0.00 311
    2018-04-01 $179,450 (5.6%) $202,432 (8.4%) 0.00 294
    2018-05-01 $179,950 (3.7%) $201,801 (7.4%) 0.00 308
    2018-06-01 $180,000 (6.6%) $201,962 (9.1%) 0.00 336
    2018-07-01 $179,925 (6.6%) $200,499 (8.2%) 0.00 355
    2018-08-01 $178,900 (6.1%) $195,154 (7.0%) 0.00 368
    2018-09-01 $179,900 (5.9%) $197,365 (7.4%) 0.00 350
    2018-10-01 $178,750 (5.2%) $197,489 (6.8%) 0.00 326
    2018-11-01 $178,750 (4.0%) $197,240 (4.7%) 0.00 301
    2018-12-01 $179,900 (5.8%) $194,726 (3.8%) 0.00 270
    2019-01-01 $175,000 (0.1%) $190,306 (-0.4%) 0.00 259
    2019-02-01 $173,850 (-0.6%) $190,597 (-4.1%) 0.00 258
    2019-03-01 $179,286 (2.5%) $274,357 (41.4%) 0.00 263
    2019-04-01 $175,536 (-2.2%) $273,499 (35.1%) 0.00 266
    2019-05-01 $182,075 (1.2%) $193,797 (-4.0%) 0.00 269
    2019-06-01 $178,750 (-0.7%) $191,478 (-5.2%) 0.00 282
    2019-07-01 $179,850 (0.0%) $195,073 (-2.7%) 0.00 270
    2019-08-01 $179,382 (0.3%) $194,205 (-0.5%) 0.00 270
    2019-09-01 $178,605 (-0.7%) $191,025 (-3.2%) 0.00 273
    2019-10-01 $173,950 (-2.7%) $186,923 (-5.4%) 0.00 271
    2019-11-01 $165,000 (-7.7%) $177,080 (-10.2%) 0.00 251
    2019-12-01 $164,450 (-8.6%) $176,174 (-9.5%) 0.00 242
    2020-01-01 $161,140 (-7.9%) $172,453 (-9.4%) 0.00 221
    2020-02-01 $159,900 (-8.0%) $171,954 (-9.8%) 0.00 215
    2020-03-01 $158,450 (-11.6%) $174,621 (-36.4%) 0.00 221
    2020-04-01 $157,100 (-10.5%) $171,045 (-37.5%) 0.00 230
    2020-05-01 $159,000 (-12.7%) $176,737 (-8.8%) 0.00 203
    2020-06-01 $168,450 (-5.8%) $178,783 (-6.6%) 0.00 183
    2020-07-01 $170,950 (-5.0%) $180,768 (-7.3%) 0.00 185
    2020-08-01 $179,200 (-0.1%) $186,692 (-3.9%) 0.00 181
    2020-09-01 $176,975 (-0.9%) $190,332 (-0.4%) 0.00 155
    2020-10-01 $173,750 (-0.1%) $192,345 (2.9%) 0.00 148
    2020-11-01 $169,450 (2.7%) $187,055 (5.6%) 0.00 148
    2020-12-01 $167,000 (1.6%) $182,934 (3.8%) 0.00 153
    2021-01-01 $169,000 (4.9%) $180,881 (4.9%) 0.00 155
    2021-02-01 $174,950 (9.4%) $189,815 (10.4%) 0.00 156
    2021-03-01 $167,125 (5.5%) $183,985 (5.4%) 0.00 142
    2021-04-01 $163,750 (4.2%) $185,355 (8.4%) 0.00 120
    2021-05-01 $176,950 (11.3%) $193,813 (9.7%) 0.00 106
    2021-06-01 $177,450 (5.3%) $201,109 (12.5%) 0.00 115
    2021-07-01 $204,000 (19.3%) $205,051 (13.4%) 0.00 98
    2021-08-01 $195,750 (9.2%) $207,718 (11.3%) 0.00 99
    2021-09-01 $194,475 (9.9%) $215,697 (13.3%) 0.00 100
    2021-10-01 $197,450 (13.6%) $218,605 (13.7%) 0.00 97
    2021-11-01 $184,900 (9.1%) $219,116 (17.1%) 0.00 102
    2021-12-01 $186,950 (12.0%) $224,516 (22.7%) 0.00 91
    2022-01-01 $189,000 (11.8%) $252,102 (39.4%) 0.00 65
    2022-02-01 $208,250 (19.0%) $265,655 (40.0%) 0.00 66
    2022-03-01 $199,125 (19.2%) $265,953 (44.6%) 0.00 61
    2022-04-01 $230,000 (40.5%) $268,764 (45.0%) 0.00 62
    2022-05-01 $224,975 (27.1%) $254,780 (31.5%) 0.00 99
    2022-06-01 $219,950 (24.0%) $253,641 (26.1%) 0.00 105
    2022-07-01 $227,450 (11.5%) $258,177 (25.9%) 0.00 113
    2022-08-01 $233,750 (19.4%) $257,904 (24.2%) 0.00 123
    2022-09-01 $223,075 (14.7%) $256,314 (18.8%) 0.00 112
    2022-10-01 $239,500 (21.3%) $270,171 (23.6%) 0.00 112
    2022-11-01 $242,475 (31.1%) $266,743 (21.7%) 0.00 131
    2022-12-01 $240,000 (28.4%) $262,318 (16.8%) 0.00 132
    2023-01-01 $241,950 (28.0%) $263,367 (4.5%) 0.00 116
    2023-02-01 $240,500 (15.5%) $266,339 (0.3%) 0.00 94
    2023-03-01 $242,225 (21.6%) $271,014 (1.9%) 0.00 92
    2023-04-01 $230,000 (0.0%) $259,224 (-3.6%) 0.00 100
    2023-05-01 $224,000 (-0.4%) $248,349 (-2.5%) 0.00 112
    2023-06-01 $240,675 (9.4%) $252,409 (-0.5%) 0.00 109
    2023-07-01 $236,250 (3.9%) $253,256 (-1.9%) 0.00 110
    2023-08-01 $244,500 (4.6%) $260,725 (1.1%) 0.00 114
    2023-09-01 $235,000 (5.4%) $266,693 (4.1%) 0.00 133
    2023-10-01 $244,950 (2.3%) $264,872 (-2.0%) 0.00 147
    2023-11-01 $245,000 (1.0%) $260,197 (-2.5%) 0.00 156
    2023-12-01 $242,000 (0.8%) $252,894 (-3.6%) 0.00 158
    2024-01-01 $243,500 (0.6%) $251,150 (-4.6%) 0.00 140
    2024-02-01 $244,975 (1.9%) $256,825 (-3.6%) 0.00 130
    2024-03-01 $245,000 (1.2%) $259,456 (-4.3%) 0.00 142
    Clovis's median listing price for 2024-03-01 was $245,000, a difference of $2,775 (1.2%) versus the prior year and $25 versus the prior month.

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

    Clovis's average listing price for 2024-03-01 was $259,456, a difference of $-11,558 (-4.3%) versus the prior year and $2,631 versus the prior month.

    For the 2024-03-01 period, Clovis had 142 MLS listings, a difference of 12 listings (9%) versus the prior month and 50 listings (54%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Clovis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,827 sqft
    2018-02-01 0 days 1,841 sqft
    2018-03-01 0 days 1,823 sqft
    2018-04-01 0 days 1,841 sqft
    2018-05-01 0 days 1,832 sqft
    2018-06-01 0 days 1,840 sqft
    2018-07-01 0 days 1,858 sqft
    2018-08-01 0 days 1,844 sqft
    2018-09-01 0 days 1,844 sqft
    2018-10-01 0 days 1,840 sqft
    2018-11-01 0 days 1,854 sqft
    2018-12-01 0 days 1,856 sqft
    2019-01-01 0 days 1,817 sqft
    2019-02-01 0 days 1,825 sqft
    2019-03-01 0 days 1,843 sqft
    2019-04-01 0 days 1,847 sqft
    2019-05-01 0 days 1,853 sqft
    2019-06-01 0 days 1,852 sqft
    2019-07-01 0 days 1,832 sqft
    2019-08-01 0 days 1,814 sqft
    2019-09-01 0 days 1,802 sqft
    2019-10-01 0 days 1,784 sqft
    2019-11-01 0 days 1,752 sqft
    2019-12-01 0 days 1,693 sqft
    2020-01-01 0 days 1,681 sqft
    2020-02-01 0 days 1,691 sqft
    2020-03-01 0 days 1,670 sqft
    2020-04-01 0 days 1,684 sqft
    2020-05-01 0 days 1,712 sqft
    2020-06-01 0 days 1,706 sqft
    2020-07-01 0 days 1,781 sqft
    2020-08-01 0 days 1,777 sqft
    2020-09-01 0 days 1,745 sqft
    2020-10-01 0 days 1,768 sqft
    2020-11-01 0 days 1,718 sqft
    2020-12-01 0 days 1,678 sqft
    2021-01-01 0 days 1,676 sqft
    2021-02-01 0 days 1,721 sqft
    2021-03-01 0 days 1,675 sqft
    2021-04-01 0 days 1,672 sqft
    2021-05-01 0 days 1,749 sqft
    2021-06-01 0 days 1,696 sqft
    2021-07-01 0 days 1,723 sqft
    2021-08-01 0 days 1,765 sqft
    2021-09-01 0 days 1,862 sqft
    2021-10-01 0 days 1,830 sqft
    2021-11-01 0 days 1,742 sqft
    2021-12-01 0 days 1,739 sqft
    2022-01-01 0 days 1,862 sqft
    2022-02-01 0 days 1,805 sqft
    2022-03-01 0 days 1,807 sqft
    2022-04-01 0 days 1,892 sqft
    2022-05-01 0 days 1,771 sqft
    2022-06-01 0 days 1,769 sqft
    2022-07-01 0 days 1,841 sqft
    2022-08-01 0 days 1,795 sqft
    2022-09-01 0 days 1,765 sqft
    2022-10-01 0 days 1,848 sqft
    2022-11-01 0 days 1,897 sqft
    2022-12-01 0 days 1,865 sqft
    2023-01-01 0 days 1,856 sqft
    2023-02-01 0 days 1,851 sqft
    2023-03-01 0 days 1,836 sqft
    2023-04-01 0 days 1,761 sqft
    2023-05-01 0 days 1,707 sqft
    2023-06-01 0 days 1,735 sqft
    2023-07-01 0 days 1,714 sqft
    2023-08-01 0 days 1,706 sqft
    2023-09-01 0 days 1,706 sqft
    2023-10-01 0 days 1,749 sqft
    2023-11-01 0 days 1,798 sqft
    2023-12-01 0 days 1,789 sqft
    2024-01-01 0 days 1,779 sqft
    2024-02-01 0 days 1,703 sqft
    2024-03-01 0 days 1,700 sqft
    Clovis's median listing age (time on market) for 2024-03-01 was 0 days.

    Clovis's median square footage for active listings during the 2024-03-01 period was 1,700 sqft. One year prior, the average listing was 1,836 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.