Las Cruces VA Loan Rates, Closing Costs & Stats

LAS CRUCES, 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.

    Las Cruces's 73 lenders originated 430 VA loans during 2023. The total origination value was $138,380,000, with an average VA loan value of $321,814.

    Las Cruces VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Las Cruces averaged 5.97% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Las Cruces's average VA mortgage closing costs are $6,377.

    The average rate for the prior week (2024-12-06) was 6% and one month ago for the week of 2024-11-08, the average rate was 6.4%.

    The average rate one year ago was 6.85%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.01%.

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

    Las Cruces 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 Las Cruces level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 55 6.63% $8,617
    UNITED WHOLESALE MORTGAGE, LLC 35 6.07% $6,203
    NAVY FEDERAL CREDIT UNION 29 5.74% $9,126
    QUICKEN LOANS, LLC 27 6.01% $12,876
    Citizens Bank of Las Cruces 22 6.36% $9,559
    CROSSCOUNTRY MORTGAGE, LLC 17 6.19% $11,913
    USAA Federal Savings Bank 13 6.28% $6,348
    The Federal Savings Bank 10 6.36% $17,451
    Waterstone Mortgage Corporation 10 6.29% $11,361
    FREEDOM MORTGAGE CORPORATION 8 6.59% $14,174
    GUILD MORTGAGE COMPANY 8 6.81% $8,304
    PRIMELENDING, A PLAINSCAPITAL COMPANY 7 6.38% $7,214
    LOANDEPOT.COM, LLC 7 6.03% $12,420
    CARDINAL FINANCIAL 7 6.43% $12,005
    PENNYMAC LOAN SERVICES, LLC 7 5.44% $9,127
    AMERICAN PACIFIC MORTGAGE CORPORATION 7 6.61% $14,858
    Rocky Mountain Mortgage Company 6 6.35% $5,983
    SUN AMERICAN MORTGAGE COMPANY 6 5.96% $8,318
    MANN FINANCIAL INC. 5 6.15% $10,010
    ACADEMY MORTGAGE CORPORATION 5 6.68% $11,632
    Plains Commerce Bank 5 6.35% $6,612
    NEW DAY FINANCIAL, LLC 5 7.44% $16,751
    UNION HOME MORTGAGE CORP. 5 6.70% $9,091
    AMCAP MORTGAGE, LTD. 5 6.58% $16,997
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.53% $7,090
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.13% $8,288
    Flagstar Bank, FSB 4 6.33% $7,051
    GUARANTEED RATE, INC. 3 6.19% $9,648
    CMG MORTGAGE, INC. 3 5.42% $10,821
    Armed Forces Bank 3 6.50% $12,790
    VILLAGE CAPITAL MORTGAGE 3 6.08% $9,858
    Mr. Cooper ( Nationstar Mortgage ) 3 5.96% $17,387
    Barrington Bank & Trust Company, N.A. 3 5.71% $5,889
    BNC National Bank 3 5.63% $6,792
    PENTAGON FEDERAL CREDIT UNION 3 5.42% $5,531
    AMERISAVE MORTGAGE CORPORATION 3 6.38% $13,751
    Wells Fargo Bank 3 5.83% $15,982
    PREMIA MORTGAGE, LLC 2 6.00% $10,110
    BROKER SOLUTIONS, INC. 2 6.50% $9,887
    Commerce Home Mortgage, Inc. 2 5.81% $23,903
    CORNERSTONE HOME LENDING, INC. 2 6.75% $5,963
    Equity Prime Mortgage LLC 2 7.75% $9,208
    FirstLight Federal Credit Union 2 6.19% $1,553
    LOANPAL, LLC 2 6.25% $13,139
    Magnolia Bank 2 6.31% $26,204
    MID AMERICA MORTGAGE, INC. 2 5.81% $13,582
    MORTGAGEONE, INC. 2 7.69% $1,289
    NEWREZ LLC 2 7.00% $18,954
    NexBank 2 5.94% $2,736
    Northpointe Bank 2 6.44% $8,377
    NUSENDA 1 5.50% $12,941
    North American Savings Bank, F.S.B. 1 6.25% $2,220
    MOVEMENT MORTGAGE, LLC 1 6.75% $8,649
    PLAZA HOME MORTGAGE, INC. 1 7.13% $13,941
    MORIA DEVELOPMENT, INC. 1 6.50% $12,864
    LEGEND LENDING CORPORATION 1 5.63% $10,789
    Kirtland Federal Credit Union 1 5.88% $4,535
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $1,724
    Goldwater Bank, N.A. 1 8.99% $11,151
    Service Federal Credit Union 1 6.63% $4,312
    Sierra Pacific Mortgage Company, Inc. 1 6.99% $5,713
    GENEVA FINANCIAL, LLC 1 6.75% $14,243
    SUN WEST MORTGAGE COMPANY, INC. 1 7.00% $20,776
    First American Bank 1 6.25% $1,687
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $13,142
    EVERETT FINANCIAL, INC. 1 7.25% $17,601
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.12% $5,720
    U.S. Bank 1 6.63% $5,868
    Century Mortgage Company DBA Century Lending Company 1 5.75% $13,396
    V.I.P. MORTGAGE, INC. 1 6.25% $315
    CADENCE LENDING GROUP, INC. 1 7.25% $7,033
    AMERICAN FINANCING CORPORATION 1 7.00% $18,839
    WILLOW BEND MORTGAGE COMPANY, LLC 1 7.00% $12,687

    The top Las Cruces VA lender as defined by loan originations is Mortgage Research Center, LLC, with 55 VA loans originated. Their average total fees are $8,617, which is $2,414 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Las Cruces VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($6,203), USAA Federal Savings Bank ($6,348), Mortgage Research Center, LLC ($8,617), NAVY FEDERAL CREDIT UNION ($9,126) and Citizens Bank of Las Cruces ($9,559).

    The lowest rate Las Cruces VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.74%), QUICKEN LOANS, LLC (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.07%), CROSSCOUNTRY MORTGAGE, LLC (6.19%) and USAA Federal Savings Bank (6.28%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Las Cruces (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 $213,913 (4.0%) $274,512 (5.8%) 0.79 772
    2018-02-01 $213,200 (-0.8%) $272,963 (4.8%) 0.77 781
    2018-03-01 $207,975 (-1.5%) $260,016 (0.6%) 0.73 837
    2018-04-01 $208,750 (-0.1%) $262,181 (2.1%) 0.71 840
    2018-05-01 $209,475 (1.0%) $267,689 (5.1%) 0.70 859
    2018-06-01 $215,000 (4.1%) $269,950 (4.3%) 0.72 855
    2018-07-01 $213,623 (1.8%) $269,171 (5.0%) 0.71 863
    2018-08-01 $205,238 (-2.7%) $262,815 (1.7%) 0.69 857
    2018-09-01 $209,250 (-1.7%) $265,708 (2.3%) 0.70 836
    2018-10-01 $210,370 (-1.8%) $271,910 (4.6%) 0.71 852
    2018-11-01 $206,500 (-3.2%) $271,086 (3.2%) 0.70 825
    2018-12-01 $204,450 (-2.6%) $267,629 (2.4%) 0.71 801
    2019-01-01 $205,000 (-4.2%) $280,332 (2.1%) 0.71 724
    2019-02-01 $216,873 (1.7%) $286,198 (4.9%) 0.73 723
    2019-03-01 $216,490 (4.1%) $290,624 (11.8%) 0.71 704
    2019-04-01 $224,500 (7.5%) $303,317 (15.7%) 0.71 670
    2019-05-01 $224,900 (7.4%) $308,721 (15.3%) 0.70 681
    2019-06-01 $227,500 (5.8%) $313,905 (16.3%) 0.71 684
    2019-07-01 $229,488 (7.4%) $313,461 (16.5%) 0.72 683
    2019-08-01 $229,273 (11.7%) $312,273 (18.8%) 0.73 683
    2019-09-01 $229,682 (9.8%) $311,210 (17.1%) 0.74 671
    2019-10-01 $229,975 (9.3%) $312,123 (14.8%) 0.74 663
    2019-11-01 $228,900 (10.9%) $300,715 (10.9%) 0.75 657
    2019-12-01 $228,850 (11.9%) $298,923 (11.7%) 0.76 625
    2020-01-01 $224,056 (9.3%) $282,827 (0.9%) 0.75 741
    2020-02-01 $225,000 (3.8%) $283,542 (-0.9%) 0.74 772
    2020-03-01 $235,000 (8.6%) $293,615 (1.0%) 0.74 769
    2020-04-01 $235,471 (4.9%) $293,993 (-3.1%) 0.74 735
    2020-05-01 $238,000 (5.8%) $294,710 (-4.5%) 0.72 738
    2020-06-01 $242,000 (6.4%) $297,601 (-5.2%) 0.71 729
    2020-07-01 $242,500 (5.7%) $300,470 (-4.1%) 0.70 714
    2020-08-01 $239,000 (4.2%) $300,581 (-3.7%) 0.68 714
    2020-09-01 $238,320 (3.8%) $300,940 (-3.3%) 0.68 659
    2020-10-01 $235,850 (2.6%) $299,182 (-4.2%) 0.68 671
    2020-11-01 $241,000 (5.3%) $302,263 (0.5%) 0.70 679
    2020-12-01 $249,450 (9.0%) $303,283 (1.5%) 0.74 642
    2021-01-01 $261,250 (16.6%) $307,378 (8.7%) 0.78 593
    2021-02-01 $264,500 (17.6%) $307,723 (8.5%) 0.77 601
    2021-03-01 $265,955 (13.2%) $306,169 (4.3%) 0.75 636
    2021-04-01 $269,000 (14.2%) $303,653 (3.3%) 0.73 664
    2021-05-01 $275,000 (15.6%) $310,030 (5.2%) 0.73 671
    2021-06-01 $278,989 (15.3%) $319,530 (7.4%) 0.73 690
    2021-07-01 $284,035 (17.1%) $325,916 (8.5%) 0.75 741
    2021-08-01 $285,000 (19.3%) $327,274 (8.9%) 0.76 799
    2021-09-01 $279,500 (17.3%) $330,077 (9.7%) 0.75 762
    2021-10-01 $285,000 (20.8%) $338,197 (13.0%) 0.76 709
    2021-11-01 $278,978 (15.8%) $336,099 (11.2%) 0.75 681
    2021-12-01 $293,500 (17.7%) $341,094 (12.5%) 0.80 659
    2022-01-01 $335,000 (28.2%) $355,986 (15.8%) 0.91 614
    2022-02-01 $346,500 (31.0%) $362,787 (17.9%) 0.90 593
    2022-03-01 $328,695 (23.6%) $369,468 (20.7%) 0.82 637
    2022-04-01 $330,000 (22.7%) $377,241 (24.2%) 0.79 607
    2022-05-01 $338,818 (23.2%) $383,578 (23.7%) 0.77 606
    2022-06-01 $346,330 (24.1%) $384,608 (20.4%) 0.77 631
    2022-07-01 $356,130 (25.4%) $389,890 (19.6%) 0.80 658
    2022-08-01 $361,333 (26.8%) $397,534 (21.5%) 0.84 681
    2022-09-01 $364,983 (30.6%) $402,954 (22.1%) 0.85 655
    2022-10-01 $359,613 (26.2%) $393,849 (16.5%) 0.85 672
    2022-11-01 $362,950 (30.1%) $389,911 (16.0%) 0.87 750
    2022-12-01 $369,500 (25.9%) $392,120 (15.0%) 0.91 681
    2023-01-01 $370,113 (10.5%) $390,477 (9.7%) 0.92 661
    2023-02-01 $359,925 (3.9%) $383,212 (5.6%) 0.87 674
    2023-03-01 $351,268 (6.9%) $385,370 (4.3%) 0.83 673
    2023-04-01 $349,925 (6.0%) $390,494 (3.5%) 0.81 703
    2023-05-01 $353,162 (4.2%) $401,570 (4.7%) 0.80 714
    2023-06-01 $356,263 (2.9%) $403,449 (4.9%) 0.80 711
    2023-07-01 $362,950 (1.9%) $411,895 (5.6%) 0.82 706
    2023-08-01 $357,475 (-1.1%) $407,516 (2.5%) 0.82 777
    2023-09-01 $357,375 (-2.1%) $408,141 (1.3%) 0.83 911
    2023-10-01 $362,475 (0.8%) $422,837 (7.4%) 0.85 598
    2023-11-01 $372,338 (2.6%) $430,650 (10.5%) 0.89 607
    2023-12-01 $369,950 (0.1%) $434,084 (10.7%) 0.90 597
    2024-01-01 $370,088 (0.0%) $438,392 (12.3%) 0.90 582
    2024-02-01 $374,963 (4.2%) $440,668 (15.0%) 0.90 599
    2024-03-01 $369,000 (5.1%) $430,993 (11.8%) 0.87 630
    2024-04-01 $365,000 (4.3%) $425,553 (9.0%) 0.85 650
    2024-05-01 $365,000 (3.4%) $422,378 (5.2%) 0.83 670
    2024-06-01 $367,000 (3.0%) $434,533 (7.7%) 0.82 649
    2024-07-01 $367,450 (1.2%) $418,364 (1.6%) 0.84 718
    2024-08-01 $374,500 (4.8%) $422,019 (3.6%) 0.87 757
    2024-09-01 $382,000 (6.9%) $435,093 (6.6%) 0.90 752
    2024-10-01 $389,000 (7.3%) $436,002 (3.1%) 0.92 751
    2024-11-01 $365,155 (-1.9%) $437,970 (1.7%) 0.88 654
    Las Cruces's median listing price for 2024-11-01 was $365,155, a difference of $-7,183 (-1.9%) versus the prior year and $-23,845 versus the prior month.

    Las Cruces's median listing price comes in at 88% of the national average.

    Las Cruces's average listing price for 2024-11-01 was $437,970, a difference of $7,320 (1.7%) versus the prior year and $1,968 versus the prior month.

    For the 2024-11-01 period, Las Cruces had 654 MLS listings, a difference of -97 listings (-13%) versus the prior month and 47 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Las Cruces (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 97 days 1,946 sqft
    2018-02-01 94 days 1,939 sqft
    2018-03-01 73 days 1,929 sqft
    2018-04-01 68 days 1,945 sqft
    2018-05-01 65 days 1,963 sqft
    2018-06-01 63 days 1,957 sqft
    2018-07-01 73 days 1,946 sqft
    2018-08-01 72 days 1,924 sqft
    2018-09-01 73 days 1,920 sqft
    2018-10-01 75 days 1,905 sqft
    2018-11-01 79 days 1,920 sqft
    2018-12-01 89 days 1,900 sqft
    2019-01-01 91 days 1,926 sqft
    2019-02-01 81 days 1,972 sqft
    2019-03-01 72 days 1,958 sqft
    2019-04-01 66 days 2,012 sqft
    2019-05-01 61 days 1,989 sqft
    2019-06-01 64 days 2,024 sqft
    2019-07-01 62 days 2,052 sqft
    2019-08-01 64 days 2,072 sqft
    2019-09-01 67 days 2,064 sqft
    2019-10-01 70 days 2,059 sqft
    2019-11-01 68 days 2,025 sqft
    2019-12-01 78 days 2,023 sqft
    2020-01-01 83 days 1,966 sqft
    2020-02-01 80 days 1,970 sqft
    2020-03-01 58 days 2,009 sqft
    2020-04-01 57 days 1,999 sqft
    2020-05-01 64 days 1,975 sqft
    2020-06-01 66 days 1,981 sqft
    2020-07-01 57 days 2,000 sqft
    2020-08-01 53 days 1,987 sqft
    2020-09-01 52 days 1,968 sqft
    2020-10-01 47 days 1,959 sqft
    2020-11-01 47 days 1,961 sqft
    2020-12-01 55 days 1,987 sqft
    2021-01-01 61 days 2,020 sqft
    2021-02-01 45 days 2,008 sqft
    2021-03-01 44 days 2,001 sqft
    2021-04-01 43 days 1,995 sqft
    2021-05-01 44 days 1,999 sqft
    2021-06-01 48 days 2,015 sqft
    2021-07-01 45 days 2,045 sqft
    2021-08-01 42 days 2,002 sqft
    2021-09-01 51 days 1,942 sqft
    2021-10-01 57 days 1,998 sqft
    2021-11-01 55 days 1,963 sqft
    2021-12-01 57 days 2,005 sqft
    2022-01-01 56 days 2,119 sqft
    2022-02-01 48 days 2,137 sqft
    2022-03-01 47 days 2,046 sqft
    2022-04-01 45 days 2,041 sqft
    2022-05-01 45 days 2,046 sqft
    2022-06-01 44 days 2,080 sqft
    2022-07-01 45 days 2,070 sqft
    2022-08-01 47 days 2,062 sqft
    2022-09-01 58 days 2,106 sqft
    2022-10-01 60 days 2,031 sqft
    2022-11-01 51 days 2,030 sqft
    2022-12-01 58 days 2,026 sqft
    2023-01-01 72 days 2,023 sqft
    2023-02-01 90 days 1,986 sqft
    2023-03-01 75 days 1,953 sqft
    2023-04-01 53 days 1,960 sqft
    2023-05-01 58 days 1,974 sqft
    2023-06-01 60 days 1,988 sqft
    2023-07-01 59 days 2,052 sqft
    2023-08-01 58 days 2,014 sqft
    2023-09-01 72 days 2,000 sqft
    2023-10-01 82 days 2,056 sqft
    2023-11-01 74 days 2,112 sqft
    2023-12-01 86 days 2,097 sqft
    2024-01-01 85 days 2,108 sqft
    2024-02-01 65 days 2,136 sqft
    2024-03-01 54 days 2,050 sqft
    2024-04-01 58 days 2,023 sqft
    2024-05-01 61 days 2,000 sqft
    2024-06-01 62 days 2,019 sqft
    2024-07-01 52 days 2,024 sqft
    2024-08-01 54 days 2,050 sqft
    2024-09-01 62 days 2,050 sqft
    2024-10-01 82 days 2,050 sqft
    2024-11-01 73 days 1,984 sqft
    Las Cruces's median listing age (time on market) for 2024-11-01 was 73 days. This is -1% shorter than the same period one year ago.

    Las Cruces's median square footage for active listings during the 2024-11-01 period was 1,984 sqft. One year prior, the average listing was 2,112 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.