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 6.33% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.19% and one month ago for the week of 2024-10-04, the average rate was 5.72%.

    The average rate one year ago was 7.47%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.17%.

    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%).

    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.