Santa Fe VA Loan Rates, Closing Costs & Stats

SANTA FE, NM

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.

Santa Fe's 51 lenders originated 177 VA loans during 2024. The total origination value was $82,865,000, with an average VA loan value of $468,164.

Santa Fe VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Santa Fe averaged 0.58% for the week of 2025-06-20, compared to the national average (all VA variants) of 0% for the same period.

Santa Fe's average VA mortgage closing costs are $8,129.

The average rate for the prior week (2025-06-13) was 6.83% and one month ago for the week of 2025-05-16, the average rate was 6.59%.

The average rate one year ago was 6.79%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.29%.

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

Santa Fe 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 Santa Fe level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Mortgage Research Center, LLC 25 6.27% $8,947
UNITED WHOLESALE MORTGAGE, LLC 20 5.97% $8,438
FREEDOM MORTGAGE CORPORATION 13 6.21% $11,737
NAVY FEDERAL CREDIT UNION 11 5.86% $9,717
PULTE MORTGAGE LLC 8 5.44% $10,982
Waterstone Mortgage Corporation 6 6.42% $10,376
VILLAGE CAPITAL MORTGAGE 6 5.60% $9,352
USAA Federal Savings Bank 6 5.77% $15,253
QUICKEN LOANS, LLC 6 5.89% $8,397
LAKEVIEW LOAN SERVICING, LLC 4 5.62% $12,278
DHI MORTGAGE COMPANY, LTD. 4 4.75% $8,296
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.91% $9,275
DIRECTORS MORTGAGE, INC. 3 6.91% $8,886
The Federal Savings Bank 3 6.29% $15,005
Nations Lending Corporation 3 6.38% $21,286
NUSENDA 3 6.33% $11,233
BOKF 3 6.58% $11,283
GUILD MORTGAGE COMPANY 3 6.17% $11,734
Sunflower Bank 3 6.16% $6,452
LOANDEPOT.COM, LLC 2 6.31% $9,748
Bell Bank 2 6.38% $951
GUARANTEED RATE, INC. 2 6.25% $3,549
Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $11,384
PENNYMAC LOAN SERVICES, LLC 2 4.94% $8,457
BAYSHORE MORTGAGE FUNDING, LLC 1 6.25% $17,323
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.38% $23,524
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.25% $6,157
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $16,454
NEW DAY FINANCIAL, LLC 1 7.75% $22,712
NEWREZ LLC 1 6.25% $3,274
North American Savings Bank, F.S.B. 1 6.25% $3,586
Goldwater Bank, N.A. 1 7.25% $11,761
Armed Forces Bank 1 6.25% $3,809
PENTAGON FEDERAL CREDIT UNION 1 5.88% $1,335
Plains Commerce Bank 1 6.25% $5,533
PREMIA MORTGAGE, LLC 1 6.00% $9,569
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $6,514
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $12,401
Gateway First Bank 1 6.63% $18,302
Equity Prime Mortgage LLC 1 6.75% $5,442
Sierra Pacific Mortgage Company, Inc. 1 5.75% $6,964
SUMMIT FUNDING, INC. 1 6.25% $3,541
ENVOY MORTGAGE, LTD 1 5.75% $8,264
SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $3,332
CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $18,621
UNION HOME MORTGAGE CORP. 1 6.50% $6,911
UNION SQUARE 1 6.25% $24,770
Century Mortgage Company DBA Century Lending Company 1 6.13% $6,190
CARDINAL FINANCIAL 1 5.50% $18,857
MOUNTAIN AMERICA 1 5.25% $5,293
MOVEMENT MORTGAGE, LLC 1 5.75% $9,378

The top Santa Fe VA lender as defined by loan originations is Mortgage Research Center, LLC, with 25 VA loans originated. Their average total fees are $8,947, which is $508 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Santa Fe VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,438), Mortgage Research Center, LLC ($8,947), NAVY FEDERAL CREDIT UNION ($9,717), FREEDOM MORTGAGE CORPORATION ($11,737) and .

The lowest rate Santa Fe VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (5.86%), UNITED WHOLESALE MORTGAGE, LLC (5.97%), FREEDOM MORTGAGE CORPORATION (6.21%), Mortgage Research Center, LLC (6.27%) and .

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.