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 20 lenders originated 47 VA loans during 2024. The total origination value was $11,005,000, with an average VA loan value of $234,149.

    Portales VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Portales averaged 6.73% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    Portales's average VA mortgage closing costs are $5,401.

    The average rate for the prior week (2025-03-28) was 6.85% and one month ago for the week of 2025-02-28, the average rate was 6.83%.

    The average rate one year ago was 7.04%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.06%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 9 6.26% $5,372
    NAVY FEDERAL CREDIT UNION 6 5.73% $3,835
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.56% $7,227
    NEW DAY FINANCIAL, LLC 3 7.37% $7,325
    USAA Federal Savings Bank 2 6.25% $8,380
    Bell Bank 2 5.81% $5,101
    QUICKEN LOANS, LLC 2 6.49% $6,072
    FREEDOM MORTGAGE CORPORATION 2 6.25% $7,770
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $5,154
    PHH Mortgage Corporation 1 5.63% $3,599
    Sierra Pacific Mortgage Company, Inc. 1 6.75% $8,234
    TEXAS TECH 1 6.50% $10,152
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $7,311
    CARDINAL FINANCIAL 1 5.99% $16,835
    DIRECTORS MORTGAGE, INC. 1 6.38% $6,633
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $0
    GUILD MORTGAGE COMPANY 1 6.38% $3,978
    HOMESIDE FINANCIAL, LLC 1 7.25% $6,814
    JPMorgan Chase Bank 1 7.25% $149
    Barrington Bank & Trust Company, N.A. 1 5.75% $6,822

    The top Portales VA lender as defined by loan originations is Mortgage Research Center, LLC, with 9 VA loans originated. Their average total fees are $5,372, which is $1,538 higher than the next largest lender, NAVY FEDERAL CREDIT UNION.

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

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

    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
    2024-12-01 $197,000 (5.8%) $227,624 (4.4%) 0.00 76
    Portales's median listing price for 2024-12-01 was $197,000, a difference of $10,750 (5.8%) versus the prior year and $2,000 versus the prior month.

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

    Portales's average listing price for 2024-12-01 was $227,624, a difference of $9,657 (4.4%) versus the prior year and $3,715 versus the prior month.

    For the 2024-12-01 period, Portales had 76 MLS listings, a difference of 1 listings (1%) versus the prior month and 23 listings (43%) 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
    2024-12-01 0 days 1,691 sqft
    Portales's median listing age (time on market) for 2024-12-01 was 0 days.

    Portales's median square footage for active listings during the 2024-12-01 period was 1,691 sqft. One year prior, the average listing was 1,678 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.