Española VA Loan Rates, Closing Costs & Stats

Española, 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.

    Española's 15 lenders originated 25 VA loans during 2023. The total origination value was $8,435,000, with an average VA loan value of $337,400.

    Española VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Española averaged 7.31% for the week of 2024-04-19, compared to the national average (all VA variants) of 6.758% for the same period.

    Española's average VA mortgage closing costs are $7,669.

    The average rate for the prior week (2024-04-12) was 6.94% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.56%.

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

    Española 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 Española level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 3 6.50% $4,315
    QUICKEN LOANS, LLC 2 5.99% $13,481
    NEW DAY FINANCIAL, LLC 2 7.87% $15,028
    BOKF 2 6.38% $11,086
    NAVY FEDERAL CREDIT UNION 1 5.88% $22,793
    PENTAGON FEDERAL CREDIT UNION 1 5.13% $9,480
    RELIANCE FIRST CAPITAL, LLC 1 5.38% $14,001
    Sunflower Bank 1 5.63% $14,002
    UNION HOME MORTGAGE CORP. 1 5.75% $29,734
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $14,580
    USAA Federal Savings Bank 1 5.88% $10,291
    Waterstone Mortgage Corporation 1 5.13% $17,315
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $9,613
    FREEDOM MORTGAGE CORPORATION 1 7.25% $1,812
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $16,899

    The top Española VA lender as defined by loan originations is Mortgage Research Center, LLC, with 3 VA loans originated. Their average total fees are $4,315, which is $9,166 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Española VA lenders (with over 10 loans originated) are .

    The lowest rate Española VA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Española (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 $289,000 (17.2%) $389,279 (-8.7%) 0.00 158
    2018-02-01 $274,500 (20.4%) $396,636 (-2.8%) 0.00 150
    2018-03-01 $274,500 (21.2%) $398,105 (-1.4%) 0.00 146
    2018-04-01 $288,250 (19.9%) $453,758 (10.8%) 0.00 143
    2018-05-01 $289,000 (15.8%) $481,914 (14.5%) 0.00 160
    2018-06-01 $299,000 (19.8%) $502,979 (24.0%) 0.00 171
    2018-07-01 $299,925 (16.7%) $519,923 (31.9%) 0.00 169
    2018-08-01 $299,925 (22.4%) $505,172 (34.4%) 0.00 178
    2018-09-01 $299,900 (21.2%) $495,483 (35.1%) 0.00 191
    2018-10-01 $299,475 (13.2%) $486,532 (28.6%) 0.00 186
    2018-11-01 $299,225 (9.1%) $486,370 (31.3%) 0.00 181
    2018-12-01 $299,450 (3.6%) $489,538 (28.2%) 0.00 178
    2019-01-01 $298,000 (3.1%) $506,100 (30.0%) 0.00 165
    2019-02-01 $292,500 (6.6%) $539,945 (36.1%) 0.00 165
    2019-03-01 $279,979 (2.0%) $549,382 (38.0%) 0.00 161
    2019-04-01 $279,925 (-2.9%) $562,378 (23.9%) 0.00 160
    2019-05-01 $289,000 (0.0%) $560,482 (16.3%) 0.00 165
    2019-06-01 $297,000 (-0.7%) $570,113 (13.4%) 0.00 174
    2019-07-01 $299,950 (0.0%) $583,744 (12.3%) 0.00 174
    2019-08-01 $299,691 (-0.1%) $609,108 (20.6%) 0.00 176
    2019-09-01 $299,302 (-0.2%) $638,089 (28.8%) 0.00 177
    2019-10-01 $302,043 (0.9%) $664,569 (36.6%) 0.00 174
    2019-11-01 $299,900 (0.2%) $679,437 (39.7%) 0.00 155
    2019-12-01 $291,250 (-2.7%) $666,842 (36.2%) 0.00 146
    2020-01-01 $285,000 (-4.4%) $622,565 (23.0%) 0.00 134
    2020-02-01 $280,000 (-4.3%) $548,375 (1.6%) 0.00 130
    2020-03-01 $279,000 (-0.4%) $551,523 (0.4%) 0.00 137
    2020-04-01 $275,000 (-1.8%) $522,708 (-7.1%) 0.00 134
    2020-05-01 $277,000 (-4.2%) $541,302 (-3.4%) 0.00 138
    2020-06-01 $299,450 (0.8%) $581,561 (2.0%) 0.00 123
    2020-07-01 $297,225 (-0.9%) $577,037 (-1.2%) 0.00 123
    2020-08-01 $350,000 (16.8%) $648,539 (6.5%) 0.00 119
    2020-09-01 $326,750 (9.2%) $653,932 (2.5%) 0.00 115
    2020-10-01 $325,000 (7.6%) $678,970 (2.2%) 0.00 105
    2020-11-01 $307,400 (2.5%) $717,370 (5.6%) 0.00 98
    2020-12-01 $325,000 (11.6%) $742,806 (11.4%) 0.00 94
    2021-01-01 $329,900 (15.8%) $729,576 (17.2%) 0.00 82
    2021-02-01 $350,000 (25.0%) $797,403 (45.4%) 0.00 72
    2021-03-01 $378,250 (35.6%) $851,160 (54.3%) 0.00 61
    2021-04-01 $366,250 (33.2%) $898,247 (71.8%) 0.00 59
    2021-05-01 $365,000 (31.8%) $888,338 (64.1%) 0.00 59
    2021-06-01 $396,250 (32.3%) $936,529 (61.0%) 0.00 60
    2021-07-01 $371,500 (25.0%) $927,181 (60.7%) 0.00 64
    2021-08-01 $463,750 (32.5%) $1,037,846 (60.0%) 0.00 66
    2021-09-01 $482,500 (47.7%) $947,938 (45.0%) 0.00 71
    2021-10-01 $485,000 (49.2%) $1,232,782 (81.6%) 0.00 73
    2021-11-01 $564,999 (83.8%) $1,368,502 (90.8%) 0.00 61
    2021-12-01 $564,750 (73.8%) $1,338,325 (80.2%) 0.00 56
    2022-01-01 $524,500 (59.0%) $1,468,371 (101.3%) 0.00 49
    2022-02-01 $549,000 (56.9%) $1,416,978 (77.7%) 0.00 49
    2022-03-01 $543,500 (43.7%) $1,456,643 (71.1%) 0.00 48
    2022-04-01 $572,000 (56.2%) $1,850,100 (106.0%) 0.00 45
    2022-05-01 $601,000 (64.7%) $1,555,028 (75.1%) 0.00 56
    2022-06-01 $547,450 (38.2%) $1,298,480 (38.7%) 0.00 65
    2022-07-01 $590,000 (58.8%) $1,159,710 (25.1%) 0.00 67
    2022-08-01 $587,500 (26.7%) $1,123,202 (8.2%) 0.00 72
    2022-09-01 $499,500 (3.5%) $1,064,697 (12.3%) 0.00 71
    2022-10-01 $475,000 (-2.1%) $982,276 (-20.3%) 0.00 80
    2022-11-01 $446,000 (-21.1%) $990,491 (-27.6%) 0.00 79
    2022-12-01 $445,000 (-21.2%) $950,460 (-29.0%) 0.00 79
    2023-01-01 $461,163 (-12.1%) $984,691 (-32.9%) 0.00 72
    2023-02-01 $452,000 (-17.7%) $801,795 (-43.4%) 0.00 65
    2023-03-01 $432,750 (-20.4%) $784,051 (-46.2%) 0.00 62
    2023-04-01 $360,000 (-37.1%) $841,413 (-54.5%) 0.00 51
    2023-05-01 $430,000 (-28.5%) $948,870 (-39.0%) 0.00 61
    2023-06-01 $456,500 (-16.6%) $919,897 (-29.2%) 0.00 69
    2023-07-01 $499,500 (-15.3%) $911,533 (-21.4%) 0.00 69
    2023-08-01 $546,000 (-7.1%) $1,020,290 (-9.2%) 0.00 75
    2023-09-01 $535,000 (7.1%) $926,670 (-13.0%) 0.00 74
    2023-10-01 $491,250 (3.4%) $915,111 (-6.8%) 0.00 68
    2023-11-01 $498,000 (11.7%) $929,883 (-6.1%) 0.00 68
    2023-12-01 $499,000 (12.1%) $875,108 (-7.9%) 0.00 67
    2024-01-01 $499,000 (8.2%) $928,709 (-5.7%) 0.00 56
    2024-02-01 $499,900 (10.6%) $925,755 (15.5%) 0.00 58
    2024-03-01 $530,000 (22.5%) $904,805 (15.4%) 0.00 58
    Española's median listing price for 2024-03-01 was $530,000, a difference of $97,250 (22.5%) versus the prior year and $30,100 versus the prior month.

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

    Española's average listing price for 2024-03-01 was $904,805, a difference of $120,754 (15.4%) versus the prior year and $-20,950 versus the prior month.

    For the 2024-03-01 period, Española had 58 MLS listings, a difference of 0 listings (0%) versus the prior month and -4 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Española (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,328 sqft
    2018-02-01 0 days 2,323 sqft
    2018-03-01 0 days 2,323 sqft
    2018-04-01 0 days 2,373 sqft
    2018-05-01 0 days 2,400 sqft
    2018-06-01 0 days 2,406 sqft
    2018-07-01 0 days 2,667 sqft
    2018-08-01 0 days 2,454 sqft
    2018-09-01 0 days 2,400 sqft
    2018-10-01 0 days 2,400 sqft
    2018-11-01 0 days 2,400 sqft
    2018-12-01 0 days 2,300 sqft
    2019-01-01 0 days 2,313 sqft
    2019-02-01 0 days 2,371 sqft
    2019-03-01 0 days 2,332 sqft
    2019-04-01 0 days 2,282 sqft
    2019-05-01 0 days 2,350 sqft
    2019-06-01 0 days 2,400 sqft
    2019-07-01 0 days 2,417 sqft
    2019-08-01 0 days 2,421 sqft
    2019-09-01 0 days 2,411 sqft
    2019-10-01 0 days 2,403 sqft
    2019-11-01 0 days 2,320 sqft
    2019-12-01 0 days 2,275 sqft
    2020-01-01 0 days 2,274 sqft
    2020-02-01 0 days 2,270 sqft
    2020-03-01 0 days 2,286 sqft
    2020-04-01 0 days 2,295 sqft
    2020-05-01 0 days 2,278 sqft
    2020-06-01 0 days 2,278 sqft
    2020-07-01 0 days 2,268 sqft
    2020-08-01 0 days 2,350 sqft
    2020-09-01 0 days 2,434 sqft
    2020-10-01 0 days 2,554 sqft
    2020-11-01 0 days 2,502 sqft
    2020-12-01 0 days 2,495 sqft
    2021-01-01 0 days 2,544 sqft
    2021-02-01 0 days 2,754 sqft
    2021-03-01 0 days 2,554 sqft
    2021-04-01 0 days 2,739 sqft
    2021-05-01 0 days 2,295 sqft
    2021-06-01 0 days 2,597 sqft
    2021-07-01 0 days 2,671 sqft
    2021-08-01 0 days 2,750 sqft
    2021-09-01 0 days 2,835 sqft
    2021-10-01 0 days 2,914 sqft
    2021-11-01 0 days 2,968 sqft
    2021-12-01 0 days 3,240 sqft
    2022-01-01 0 days 2,810 sqft
    2022-02-01 0 days 2,588 sqft
    2022-03-01 0 days 2,395 sqft
    2022-04-01 0 days 2,682 sqft
    2022-05-01 0 days 2,675 sqft
    2022-06-01 0 days 2,486 sqft
    2022-07-01 0 days 2,283 sqft
    2022-08-01 0 days 2,225 sqft
    2022-09-01 0 days 2,163 sqft
    2022-10-01 0 days 2,062 sqft
    2022-11-01 0 days 2,000 sqft
    2022-12-01 0 days 2,000 sqft
    2023-01-01 0 days 2,008 sqft
    2023-02-01 0 days 1,960 sqft
    2023-03-01 0 days 1,980 sqft
    2023-04-01 0 days 2,008 sqft
    2023-05-01 0 days 2,140 sqft
    2023-06-01 0 days 2,072 sqft
    2023-07-01 0 days 2,000 sqft
    2023-08-01 0 days 2,037 sqft
    2023-09-01 0 days 2,054 sqft
    2023-10-01 0 days 2,011 sqft
    2023-11-01 0 days 2,007 sqft
    2023-12-01 0 days 2,114 sqft
    2024-01-01 0 days 2,200 sqft
    2024-02-01 0 days 2,519 sqft
    2024-03-01 0 days 2,300 sqft
    Española's median listing age (time on market) for 2024-03-01 was 0 days.

    Española's median square footage for active listings during the 2024-03-01 period was 2,300 sqft. One year prior, the average listing was 1,980 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.