Portales VA Loan Rates, Closing Costs & Stats

Portales, 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.

    Portales's 19 lenders originated 52 VA loans during 2023. The total origination value was $11,610,000, with an average VA loan value of $223,269.

    Portales VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Portales averaged 5.86% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Portales's average VA mortgage closing costs are $5,335.

    The average rate for the prior week (2024-12-06) was 6.1% and one month ago for the week of 2024-11-08, the average rate was 6.09%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Portales 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 Portales level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NAVY FEDERAL CREDIT UNION 12 5.88% $7,168
    Mortgage Research Center, LLC 10 6.50% $5,864
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.50% $6,564
    Bell Bank 4 6.13% $7,311
    NBKC BANK 3 6.29% $5,360
    QUICKEN LOANS, LLC 2 5.93% $11,416
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $2,845
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $2,352
    RANLIFE, INC. 1 6.38% $7,026
    The Federal Savings Bank 1 6.75% $8,480
    UNITED WHOLESALE MORTGAGE, LLC 1 7.25% $7,253
    USAA Federal Savings Bank 1 7.38% $1,862
    AMERICAN FINANCING CORPORATION 1 6.75% $12,397
    Wells Fargo Bank 1 6.63% $7,439
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $6,050
    CARDINAL FINANCIAL 1 6.25% $6,871
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $7,706
    GUARANTEED RATE, INC. 1 6.38% $4,175
    GUARANTY HOME MORTGAGE CORPORATION 1 5.75% $5,015

    The top Portales VA lender as defined by loan originations is NAVY FEDERAL CREDIT UNION, with 12 VA loans originated. Their average total fees are $7,168, which is $1,304 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Portales VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($5,864), NAVY FEDERAL CREDIT UNION ($7,168), .

    The lowest rate Portales VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.88%), Mortgage Research Center, LLC (6.50%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Portales (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 $144,600 (-2.3%) $153,601 (4.4%) 0.00 120
    2018-02-01 $155,000 (2.0%) $155,213 (3.4%) 0.00 115
    2018-03-01 $156,000 (3.3%) $157,875 (5.5%) 0.00 122
    2018-04-01 $154,950 (4.7%) $156,352 (8.5%) 0.00 126
    2018-05-01 $149,500 (0.3%) $153,307 (3.3%) 0.00 117
    2018-06-01 $149,000 (-0.6%) $152,062 (-0.6%) 0.00 120
    2018-07-01 $152,225 (-1.3%) $152,730 (-2.4%) 0.00 124
    2018-08-01 $150,425 (-6.1%) $154,939 (-4.9%) 0.00 114
    2018-09-01 $147,750 (-7.6%) $150,337 (-11.2%) 0.00 113
    2018-10-01 $144,900 (-10.0%) $147,982 (-9.8%) 0.00 109
    2018-11-01 $145,000 (-5.8%) $149,022 (-6.2%) 0.00 110
    2018-12-01 $145,000 (-3.7%) $151,027 (-3.8%) 0.00 115
    2019-01-01 $144,250 (-0.2%) $152,175 (-0.9%) 0.00 105
    2019-02-01 $145,000 (-6.5%) $156,224 (0.7%) 0.00 103
    2019-03-01 $145,000 (-7.1%) $156,551 (-0.8%) 0.00 99
    2019-04-01 $147,000 (-5.1%) $159,778 (2.2%) 0.00 100
    2019-05-01 $148,000 (-1.0%) $156,549 (2.1%) 0.00 94
    2019-06-01 $149,900 (0.6%) $165,809 (9.0%) 0.00 90
    2019-07-01 $157,250 (3.3%) $169,853 (11.2%) 0.00 95
    2019-08-01 $157,818 (4.9%) $170,019 (9.7%) 0.00 92
    2019-09-01 $156,795 (6.1%) $168,352 (12.0%) 0.00 92
    2019-10-01 $154,225 (6.4%) $161,856 (9.4%) 0.00 93
    2019-11-01 $149,000 (2.8%) $155,965 (4.7%) 0.00 92
    2019-12-01 $148,250 (2.2%) $155,582 (3.0%) 0.00 91
    2020-01-01 $150,000 (4.0%) $159,991 (5.1%) 0.00 87
    2020-02-01 $155,000 (6.9%) $165,406 (5.9%) 0.00 88
    2020-03-01 $155,500 (7.2%) $163,436 (4.4%) 0.00 92
    2020-04-01 $152,250 (3.6%) $156,085 (-2.3%) 0.00 87
    2020-05-01 $149,500 (1.0%) $150,525 (-3.9%) 0.00 83
    2020-06-01 $151,150 (0.8%) $150,393 (-9.3%) 0.00 77
    2020-07-01 $143,750 (-8.6%) $146,998 (-13.5%) 0.00 74
    2020-08-01 $145,000 (-8.1%) $149,386 (-12.1%) 0.00 70
    2020-09-01 $142,225 (-9.3%) $149,831 (-11.0%) 0.00 69
    2020-10-01 $160,750 (4.2%) $162,750 (0.6%) 0.00 73
    2020-11-01 $174,475 (17.1%) $171,118 (9.7%) 0.00 77
    2020-12-01 $177,000 (19.4%) $176,378 (13.4%) 0.00 72
    2021-01-01 $175,000 (16.7%) $175,628 (9.8%) 0.00 70
    2021-02-01 $166,700 (7.6%) $167,393 (1.2%) 0.00 75
    2021-03-01 $154,225 (-0.8%) $163,529 (0.1%) 0.00 72
    2021-04-01 $153,000 (0.5%) $165,598 (6.1%) 0.00 73
    2021-05-01 $148,000 (-1.0%) $163,672 (8.7%) 0.00 65
    2021-06-01 $149,450 (-1.1%) $165,667 (10.2%) 0.00 59
    2021-07-01 $146,000 (1.6%) $157,782 (7.3%) 0.00 59
    2021-08-01 $148,250 (2.2%) $169,298 (13.3%) 0.00 54
    2021-09-01 $159,700 (12.3%) $169,607 (13.2%) 0.00 52
    2021-10-01 $175,000 (8.9%) $175,184 (7.6%) 0.00 55
    2021-11-01 $159,000 (-8.9%) $166,745 (-2.6%) 0.00 59
    2021-12-01 $149,500 (-15.5%) $158,921 (-9.9%) 0.00 48
    2022-01-01 $149,000 (-14.9%) $163,567 (-6.9%) 0.00 36
    2022-02-01 $149,500 (-10.3%) $171,627 (2.5%) 0.00 35
    2022-03-01 $151,500 (-1.8%) $172,954 (5.8%) 0.00 37
    2022-04-01 $149,000 (-2.6%) $174,714 (5.5%) 0.00 34
    2022-05-01 $157,500 (6.4%) $176,487 (7.8%) 0.00 44
    2022-06-01 $163,000 (9.1%) $175,862 (6.2%) 0.00 40
    2022-07-01 $174,500 (19.5%) $189,129 (19.9%) 0.00 39
    2022-08-01 $177,000 (19.4%) $203,341 (20.1%) 0.00 42
    2022-09-01 $174,750 (9.4%) $204,664 (20.7%) 0.00 43
    2022-10-01 $180,500 (3.1%) $206,993 (18.2%) 0.00 40
    2022-11-01 $190,000 (19.5%) $216,770 (30.0%) 0.00 35
    2022-12-01 $179,000 (19.7%) $219,362 (38.0%) 0.00 37
    2023-01-01 $184,225 (23.6%) $219,999 (34.5%) 0.00 39
    2023-02-01 $179,000 (19.7%) $223,765 (30.4%) 0.00 44
    2023-03-01 $189,500 (25.1%) $227,907 (31.8%) 0.00 49
    2023-04-01 $217,000 (45.6%) $242,703 (38.9%) 0.00 46
    2023-05-01 $214,450 (36.2%) $241,645 (36.9%) 0.00 43
    2023-06-01 $247,975 (52.1%) $272,599 (55.0%) 0.00 38
    2023-07-01 $227,500 (30.4%) $250,410 (32.4%) 0.00 45
    2023-08-01 $212,000 (19.8%) $244,744 (20.4%) 0.00 46
    2023-09-01 $205,000 (17.3%) $234,205 (14.4%) 0.00 50
    2023-10-01 $197,750 (9.6%) $218,858 (5.7%) 0.00 56
    2023-11-01 $190,325 (0.2%) $217,805 (0.5%) 0.00 61
    2023-12-01 $186,250 (4.1%) $217,967 (-0.6%) 0.00 53
    2024-01-01 $186,375 (1.2%) $220,347 (0.2%) 0.00 58
    2024-02-01 $188,000 (5.0%) $223,991 (0.1%) 0.00 59
    2024-03-01 $187,000 (-1.3%) $221,869 (-2.7%) 0.00 63
    2024-04-01 $192,250 (-11.4%) $223,626 (-7.9%) 0.00 67
    2024-05-01 $197,500 (-7.9%) $215,134 (-11.0%) 0.00 74
    2024-06-01 $184,950 (-25.4%) $211,984 (-22.2%) 0.00 74
    2024-07-01 $213,500 (-6.2%) $220,657 (-11.9%) 0.00 71
    2024-08-01 $207,000 (-2.4%) $220,242 (-10.0%) 0.00 76
    2024-09-01 $208,675 (1.8%) $225,943 (-3.5%) 0.00 76
    2024-10-01 $204,750 (3.5%) $227,233 (3.8%) 0.00 72
    2024-11-01 $195,000 (2.5%) $223,909 (2.8%) 0.00 75
    Portales's median listing price for 2024-11-01 was $195,000, a difference of $4,675 (2.5%) versus the prior year and $-9,750 versus the prior month.

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

    Portales's average listing price for 2024-11-01 was $223,909, a difference of $6,104 (2.8%) versus the prior year and $-3,324 versus the prior month.

    For the 2024-11-01 period, Portales had 75 MLS listings, a difference of 3 listings (4%) versus the prior month and 14 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portales (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,755 sqft
    2018-02-01 0 days 1,758 sqft
    2018-03-01 0 days 1,769 sqft
    2018-04-01 0 days 1,745 sqft
    2018-05-01 0 days 1,742 sqft
    2018-06-01 0 days 1,753 sqft
    2018-07-01 0 days 1,743 sqft
    2018-08-01 0 days 1,771 sqft
    2018-09-01 0 days 1,787 sqft
    2018-10-01 0 days 1,772 sqft
    2018-11-01 0 days 1,776 sqft
    2018-12-01 0 days 1,784 sqft
    2019-01-01 0 days 1,816 sqft
    2019-02-01 0 days 1,821 sqft
    2019-03-01 0 days 1,819 sqft
    2019-04-01 0 days 1,802 sqft
    2019-05-01 0 days 1,749 sqft
    2019-06-01 0 days 1,775 sqft
    2019-07-01 0 days 1,820 sqft
    2019-08-01 0 days 1,893 sqft
    2019-09-01 0 days 1,897 sqft
    2019-10-01 0 days 1,894 sqft
    2019-11-01 0 days 1,847 sqft
    2019-12-01 0 days 1,827 sqft
    2020-01-01 0 days 1,882 sqft
    2020-02-01 0 days 1,847 sqft
    2020-03-01 0 days 1,842 sqft
    2020-04-01 0 days 1,768 sqft
    2020-05-01 0 days 1,696 sqft
    2020-06-01 0 days 1,674 sqft
    2020-07-01 0 days 1,707 sqft
    2020-08-01 0 days 1,664 sqft
    2020-09-01 0 days 1,686 sqft
    2020-10-01 0 days 1,800 sqft
    2020-11-01 0 days 1,793 sqft
    2020-12-01 0 days 1,837 sqft
    2021-01-01 0 days 1,847 sqft
    2021-02-01 0 days 1,864 sqft
    2021-03-01 0 days 1,810 sqft
    2021-04-01 0 days 1,775 sqft
    2021-05-01 0 days 1,766 sqft
    2021-06-01 0 days 1,740 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 1,689 sqft
    2021-09-01 0 days 1,710 sqft
    2021-10-01 0 days 1,814 sqft
    2021-11-01 0 days 1,773 sqft
    2021-12-01 0 days 1,777 sqft
    2022-01-01 0 days 1,756 sqft
    2022-02-01 0 days 1,656 sqft
    2022-03-01 0 days 1,757 sqft
    2022-04-01 0 days 1,755 sqft
    2022-05-01 0 days 1,750 sqft
    2022-06-01 0 days 1,771 sqft
    2022-07-01 0 days 1,758 sqft
    2022-08-01 0 days 1,759 sqft
    2022-09-01 0 days 1,812 sqft
    2022-10-01 0 days 1,864 sqft
    2022-11-01 0 days 1,857 sqft
    2022-12-01 0 days 1,779 sqft
    2023-01-01 0 days 1,792 sqft
    2023-02-01 0 days 1,801 sqft
    2023-03-01 0 days 1,774 sqft
    2023-04-01 0 days 1,822 sqft
    2023-05-01 0 days 1,763 sqft
    2023-06-01 0 days 1,793 sqft
    2023-07-01 0 days 1,772 sqft
    2023-08-01 0 days 1,761 sqft
    2023-09-01 0 days 1,750 sqft
    2023-10-01 0 days 1,674 sqft
    2023-11-01 0 days 1,673 sqft
    2023-12-01 0 days 1,678 sqft
    2024-01-01 0 days 1,701 sqft
    2024-02-01 0 days 1,710 sqft
    2024-03-01 0 days 1,719 sqft
    2024-04-01 0 days 1,727 sqft
    2024-05-01 0 days 1,755 sqft
    2024-06-01 0 days 1,766 sqft
    2024-07-01 0 days 1,802 sqft
    2024-08-01 0 days 1,757 sqft
    2024-09-01 0 days 1,721 sqft
    2024-10-01 0 days 1,711 sqft
    2024-11-01 0 days 1,703 sqft
    Portales's median listing age (time on market) for 2024-11-01 was 0 days.

    Portales's median square footage for active listings during the 2024-11-01 period was 1,703 sqft. One year prior, the average listing was 1,673 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.