Silver City VA Loan Rates, Closing Costs & Stats

Silver City, NM

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Silver City's 19 lenders originated 36 VA loans during 2023. The total origination value was $9,150,000, with an average VA loan value of $254,167.

    Silver City VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Silver City averaged 6.4% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Silver City's average VA mortgage closing costs are $6,247.

    The average rate for the prior week (2024-12-06) was 6.54% and one month ago for the week of 2024-11-08, the average rate was 6.63%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.88%.

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

    Silver City 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 Silver City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 7 6.68% $4,545
    QUICKEN LOANS, LLC 7 6.23% $9,946
    VAN DYK MORTGAGE CORPORATION 3 7.00% $6,933
    Barrington Bank & Trust Company, N.A. 2 6.75% $3,835
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $9,569
    MANN FINANCIAL INC. 1 6.63% $645
    ACADEMY MORTGAGE CORPORATION 1 6.13% $8,617
    NAVY FEDERAL CREDIT UNION 1 5.50% $2,292
    NEW DAY FINANCIAL, LLC 1 7.75% $11,800
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $10,725
    Plains Commerce Bank 1 6.25% $6,791
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $16,542
    The Federal Savings Bank 1 6.75% $11,767
    TIB The Independent Bankersbank 1 7.13% $4,514
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $35,268
    GUARANTEED RATE, INC. 1 6.75% $7,831
    GUILD MORTGAGE COMPANY 1 5.75% $4,835
    LEADERONE FINANCIAL CORPORATION 1 6.75% $18,380
    LOANDEPOT.COM, LLC 1 5.63% $4,715

    The top Silver City VA lender as defined by loan originations is Mortgage Research Center, LLC, with 7 VA loans originated. Their average total fees are $4,545, which is $5,401 lower than the next largest lender, QUICKEN LOANS, LLC.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Silver City (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 $203,650 (13.8%) $273,290 (16.1%) 0.00 201
    2018-02-01 $209,250 (13.1%) $283,144 (17.6%) 0.00 199
    2018-03-01 $212,750 (18.4%) $283,335 (20.4%) 0.00 206
    2018-04-01 $209,125 (15.6%) $282,111 (18.9%) 0.00 218
    2018-05-01 $212,500 (12.6%) $286,596 (20.3%) 0.00 217
    2018-06-01 $209,500 (10.9%) $284,131 (16.6%) 0.00 208
    2018-07-01 $209,750 (10.5%) $285,756 (15.3%) 0.00 215
    2018-08-01 $200,750 (1.4%) $279,590 (9.8%) 0.00 216
    2018-09-01 $199,000 (-0.4%) $272,901 (4.6%) 0.00 222
    2018-10-01 $199,700 (-4.2%) $276,814 (3.2%) 0.00 207
    2018-11-01 $219,950 (11.0%) $283,957 (7.2%) 0.00 202
    2018-12-01 $214,500 (2.1%) $276,287 (1.1%) 0.00 197
    2019-01-01 $213,250 (4.7%) $283,460 (3.7%) 0.00 188
    2019-02-01 $206,875 (-1.1%) $280,170 (-1.1%) 0.00 188
    2019-03-01 $211,857 (-0.4%) $277,116 (-2.2%) 0.00 192
    2019-04-01 $219,482 (5.0%) $276,038 (-2.2%) 0.00 193
    2019-05-01 $219,500 (3.3%) $281,606 (-1.7%) 0.00 195
    2019-06-01 $213,000 (1.7%) $281,991 (-0.8%) 0.00 204
    2019-07-01 $193,250 (-7.9%) $272,474 (-4.7%) 0.00 218
    2019-08-01 $198,182 (-1.3%) $281,509 (0.7%) 0.00 212
    2019-09-01 $199,205 (0.1%) $285,818 (4.7%) 0.00 202
    2019-10-01 $199,886 (0.1%) $288,211 (4.1%) 0.00 188
    2019-11-01 $185,000 (-15.9%) $267,809 (-5.7%) 0.00 173
    2019-12-01 $195,000 (-9.1%) $277,436 (0.4%) 0.00 164
    2020-01-01 $199,475 (-6.5%) $289,579 (2.2%) 0.00 148
    2020-02-01 $205,000 (-0.9%) $309,204 (10.4%) 0.00 131
    2020-03-01 $210,000 (-0.9%) $309,477 (11.7%) 0.00 139
    2020-04-01 $207,500 (-5.5%) $301,545 (9.2%) 0.00 139
    2020-05-01 $225,000 (2.5%) $304,732 (8.2%) 0.00 139
    2020-06-01 $231,450 (8.7%) $313,832 (11.3%) 0.00 130
    2020-07-01 $229,900 (19.0%) $315,994 (16.0%) 0.00 120
    2020-08-01 $228,000 (15.1%) $322,970 (14.7%) 0.00 110
    2020-09-01 $239,875 (20.4%) $323,664 (13.2%) 0.00 110
    2020-10-01 $257,450 (28.8%) $321,007 (11.4%) 0.00 108
    2020-11-01 $246,875 (33.5%) $320,216 (19.6%) 0.00 107
    2020-12-01 $242,250 (24.2%) $321,372 (15.8%) 0.00 101
    2021-01-01 $235,000 (17.8%) $300,576 (3.8%) 0.00 88
    2021-02-01 $237,250 (15.7%) $305,358 (-1.2%) 0.00 81
    2021-03-01 $264,875 (26.1%) $320,395 (3.5%) 0.00 74
    2021-04-01 $252,000 (21.5%) $319,829 (6.1%) 0.00 77
    2021-05-01 $259,000 (15.1%) $350,684 (15.1%) 0.00 70
    2021-06-01 $273,150 (18.0%) $353,293 (12.6%) 0.00 66
    2021-07-01 $295,000 (28.3%) $364,367 (15.3%) 0.00 70
    2021-08-01 $299,000 (31.1%) $372,603 (15.4%) 0.00 86
    2021-09-01 $299,000 (24.7%) $369,314 (14.1%) 0.00 79
    2021-10-01 $289,000 (12.3%) $371,345 (15.7%) 0.00 78
    2021-11-01 $293,125 (18.7%) $384,821 (20.2%) 0.00 79
    2021-12-01 $293,000 (21.0%) $394,386 (22.7%) 0.00 69
    2022-01-01 $299,700 (27.5%) $441,811 (47.0%) 0.00 56
    2022-02-01 $261,250 (10.1%) $451,686 (47.9%) 0.00 51
    2022-03-01 $258,750 (-2.3%) $423,216 (32.1%) 0.00 48
    2022-04-01 $254,500 (1.0%) $404,266 (26.4%) 0.00 58
    2022-05-01 $282,000 (8.9%) $439,449 (25.3%) 0.00 58
    2022-06-01 $328,750 (20.4%) $590,241 (67.1%) 0.00 57
    2022-07-01 $319,000 (8.1%) $543,804 (49.3%) 0.00 65
    2022-08-01 $303,000 (1.3%) $534,637 (43.5%) 0.00 65
    2022-09-01 $296,125 (-1.0%) $526,230 (42.5%) 0.00 73
    2022-10-01 $285,000 (-1.4%) $470,119 (26.6%) 0.00 85
    2022-11-01 $290,000 (-1.1%) $468,901 (21.9%) 0.00 86
    2022-12-01 $269,500 (-8.0%) $447,451 (13.5%) 0.00 83
    2023-01-01 $282,000 (-5.9%) $460,921 (4.3%) 0.00 79
    2023-02-01 $284,750 (9.0%) $470,999 (4.3%) 0.00 69
    2023-03-01 $289,500 (11.9%) $500,797 (18.3%) 0.00 62
    2023-04-01 $299,000 (17.5%) $502,536 (24.3%) 0.00 70
    2023-05-01 $311,000 (10.3%) $421,391 (-4.1%) 0.00 67
    2023-06-01 $296,500 (-9.8%) $420,118 (-28.8%) 0.00 70
    2023-07-01 $325,000 (1.9%) $423,468 (-22.1%) 0.00 84
    2023-08-01 $325,750 (7.5%) $455,158 (-14.9%) 0.00 88
    2023-09-01 $329,000 (11.1%) $473,398 (-10.0%) 0.00 96
    2023-10-01 $324,500 (13.9%) $489,266 (4.1%) 0.00 80
    2023-11-01 $312,500 (7.8%) $458,263 (-2.3%) 0.00 85
    2023-12-01 $289,500 (7.4%) $488,362 (9.1%) 0.00 74
    2024-01-01 $272,250 (-3.5%) $448,017 (-2.8%) 0.00 68
    2024-02-01 $284,250 (-0.2%) $445,462 (-5.4%) 0.00 72
    2024-03-01 $289,000 (-0.2%) $454,530 (-9.2%) 0.00 79
    2024-04-01 $279,750 (-6.4%) $461,110 (-8.2%) 0.00 90
    2024-05-01 $344,500 (10.8%) $465,436 (10.5%) 0.00 100
    2024-06-01 $349,000 (17.7%) $482,986 (15.0%) 0.00 109
    2024-07-01 $349,000 (7.4%) $465,592 (10.0%) 0.00 112
    2024-08-01 $330,000 (1.3%) $442,612 (-2.8%) 0.00 113
    2024-09-01 $315,250 (-4.2%) $411,559 (-13.1%) 0.00 117
    2024-10-01 $310,250 (-4.4%) $424,939 (-13.2%) 0.00 116
    2024-11-01 $325,000 (4.0%) $453,073 (-1.1%) 0.00 104
    Silver City's median listing price for 2024-11-01 was $325,000, a difference of $12,500 (4.0%) versus the prior year and $14,750 versus the prior month.

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

    Silver City's average listing price for 2024-11-01 was $453,073, a difference of $-5,190 (-1.1%) versus the prior year and $28,134 versus the prior month.

    For the 2024-11-01 period, Silver City had 104 MLS listings, a difference of -12 listings (-10%) versus the prior month and 19 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Silver City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,976 sqft
    2018-02-01 0 days 2,000 sqft
    2018-03-01 0 days 2,000 sqft
    2018-04-01 0 days 2,003 sqft
    2018-05-01 0 days 2,000 sqft
    2018-06-01 0 days 1,962 sqft
    2018-07-01 0 days 1,972 sqft
    2018-08-01 0 days 1,912 sqft
    2018-09-01 0 days 1,913 sqft
    2018-10-01 0 days 1,891 sqft
    2018-11-01 0 days 1,920 sqft
    2018-12-01 0 days 1,884 sqft
    2019-01-01 0 days 1,870 sqft
    2019-02-01 0 days 1,832 sqft
    2019-03-01 0 days 1,833 sqft
    2019-04-01 0 days 1,819 sqft
    2019-05-01 0 days 1,917 sqft
    2019-06-01 0 days 1,814 sqft
    2019-07-01 0 days 1,782 sqft
    2019-08-01 0 days 1,784 sqft
    2019-09-01 0 days 1,784 sqft
    2019-10-01 0 days 1,784 sqft
    2019-11-01 0 days 1,746 sqft
    2019-12-01 0 days 1,822 sqft
    2020-01-01 0 days 1,796 sqft
    2020-02-01 0 days 1,758 sqft
    2020-03-01 0 days 1,743 sqft
    2020-04-01 0 days 1,807 sqft
    2020-05-01 0 days 1,850 sqft
    2020-06-01 0 days 1,912 sqft
    2020-07-01 0 days 1,969 sqft
    2020-08-01 0 days 2,024 sqft
    2020-09-01 0 days 2,002 sqft
    2020-10-01 0 days 2,031 sqft
    2020-11-01 0 days 2,031 sqft
    2020-12-01 0 days 2,013 sqft
    2021-01-01 0 days 1,842 sqft
    2021-02-01 0 days 1,830 sqft
    2021-03-01 0 days 1,847 sqft
    2021-04-01 0 days 1,800 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,760 sqft
    2021-07-01 0 days 1,781 sqft
    2021-08-01 0 days 1,817 sqft
    2021-09-01 0 days 1,886 sqft
    2021-10-01 0 days 1,860 sqft
    2021-11-01 0 days 1,809 sqft
    2021-12-01 0 days 1,817 sqft
    2022-01-01 0 days 1,840 sqft
    2022-02-01 0 days 1,763 sqft
    2022-03-01 0 days 1,762 sqft
    2022-04-01 0 days 1,708 sqft
    2022-05-01 0 days 1,831 sqft
    2022-06-01 0 days 1,914 sqft
    2022-07-01 0 days 1,961 sqft
    2022-08-01 0 days 1,895 sqft
    2022-09-01 0 days 1,697 sqft
    2022-10-01 0 days 1,654 sqft
    2022-11-01 0 days 1,694 sqft
    2022-12-01 0 days 1,659 sqft
    2023-01-01 0 days 1,890 sqft
    2023-02-01 0 days 1,823 sqft
    2023-03-01 0 days 1,895 sqft
    2023-04-01 0 days 1,856 sqft
    2023-05-01 0 days 1,933 sqft
    2023-06-01 0 days 1,862 sqft
    2023-07-01 0 days 1,861 sqft
    2023-08-01 0 days 1,859 sqft
    2023-09-01 0 days 1,853 sqft
    2023-10-01 0 days 1,853 sqft
    2023-11-01 0 days 1,752 sqft
    2023-12-01 0 days 1,749 sqft
    2024-01-01 0 days 1,593 sqft
    2024-02-01 0 days 1,706 sqft
    2024-03-01 0 days 1,792 sqft
    2024-04-01 0 days 1,797 sqft
    2024-05-01 0 days 1,811 sqft
    2024-06-01 0 days 1,821 sqft
    2024-07-01 0 days 1,777 sqft
    2024-08-01 0 days 1,690 sqft
    2024-09-01 0 days 1,701 sqft
    2024-10-01 0 days 1,669 sqft
    2024-11-01 0 days 1,765 sqft
    Silver City's median listing age (time on market) for 2024-11-01 was 0 days.

    Silver City's median square footage for active listings during the 2024-11-01 period was 1,765 sqft. One year prior, the average listing was 1,752 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.