Clovis Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Clovis averaged 6.94% for the week of 2024-06-20, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2024-06-13) was 6.62% and one month ago for the week of 2024-05-16, the average rate was 6.99%.

Clovis's average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-20, the average rate was 7.17%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-20 6.87%
Clovis 30 Year Fixed Rate 2024-06-20 6.94%
Clovis 30 Year Fixed Rate Refi 2024-06-20 7.17%
Clovis 15 Year Fixed Rate 2024-06-20 6.03%
Clovis 15 Year Fixed Rate Refi 2024-06-20 6.23%
Clovis 30 Year FHA 2024-06-20 -0.2%
Clovis 30 Year FHA Refi 2024-06-20 -0.1%
Clovis 30 Year USDA 2024-06-20 0%
Clovis 30 Year USDA Refi 2024-06-20 0.2%
Clovis 30 Year VA 2024-06-20 -0.07%
Clovis 30 Year VA Refi 2024-06-20 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Clovis, NM.

Clovis Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Clovis, NM market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PRIMARY RESIDENTIAL MORTGAGE, INC. 33 6.78% $5,008
Bell Bank 14 6.77% $4,603
QUICKEN LOANS, LLC 11 6.64% $5,457
UNITED WHOLESALE MORTGAGE, LLC 8 6.78% $5,154
Plains Commerce Bank 6 7.04% $5,545
NBKC BANK 6 6.75% $2,216
PENTAGON FEDERAL CREDIT UNION 3 6.00% $2,858
TEXAS TECH 3 6.58% $12,569
Sierra Pacific Mortgage Company, Inc. 2 6.75% $5,566
USAA Federal Savings Bank 2 6.44% $3,099
JPMorgan Chase Bank 2 6.94% $2,913
Wells Fargo Bank 2 6.75% $1,348
Mr. Cooper ( Nationstar Mortgage ) 1 6.99% $7,378
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.00% $7,293
21ST MORTGAGE CORPORATION 1 9.04% $6,777
Neighborhood Loans, Inc. 1 7.13% $3,683
Prosperity Home Mortgage, LLC 1 6.50% $6,339
SANDIA LABORATORY 1 5.75% $3,087
Servion, Inc. 1 6.13% $5,121
Sunflower Bank 1 7.25% $7,579
U.S. Bank 1 7.75% $5,375
NAVY FEDERAL CREDIT UNION 1 8.63% $4,149
Access Community Credit Union 1 8.50% $4,185
Ally Bank 1 7.00% $7,164
AMERISAVE MORTGAGE CORPORATION 1 7.25% $9,735
Armed Forces Bank 1 5.63% $2,520
BNC National Bank 1 6.38% $2,295
CHURCHILL MORTGAGE CORPORATION 1 6.13% $4,588
First American Bank 1 6.13% $3,104
First Financial Credit Union 1 6.13% $4,251
GUARANTEED RATE, INC. 1 6.60% $3,320
GUILD MORTGAGE COMPANY 1 6.75% $1,970
MOVEMENT MORTGAGE, LLC 1 7.31% $6,115

Clovis Average Closing Costs & Other Stats

Clovis, NM's 33 lenders originated 652 loans during 2023. The total origination value was $127,770,000, with an average loan value of $195,966.

Clovis's average closing costs are $5,287.

The top Clovis lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with 33 loans originated. Their average total fees are $5,008, which is $405 higher than the next largest lender, Bell Bank.

The lowest fee Clovis lenders (with over 10 loans originated) are Bell Bank ($4,603), PRIMARY RESIDENTIAL MORTGAGE, INC. ($5,008), QUICKEN LOANS, LLC ($5,457), .

The lowest rate Clovis lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.64%), Bell Bank (6.77%), PRIMARY RESIDENTIAL MORTGAGE, INC. (6.78%), .

Clovis, NM Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
PRIMARY RESIDENTIAL MORTGAGE, INC. $35,585,000 $24,840,000 -30.2% 19.4%
Mortgage Research Center, LLC $25,840,000 $13,835,000 -46.5% 10.8%
Bell Bank $27,625,000 $10,800,000 -60.9% 8.5%
NBKC BANK $6,145,000 $10,330,000 68.1% 8.1%
UNITED WHOLESALE MORTGAGE, LLC $11,545,000 $9,070,000 -21.4% 7.1%
NAVY FEDERAL CREDIT UNION $8,085,000 $7,120,000 -11.9% 5.6%
QUICKEN LOANS, LLC $12,120,000 $4,715,000 -61.1% 3.7%
GUARANTEED RATE, INC. $2,840,000 $4,465,000 57.2% 3.5%
PENTAGON FEDERAL CREDIT UNION $960,000 $2,890,000 201.0% 2.3%
TEXAS TECH $2,710,000 n/a 2.1%
Plains Commerce Bank $730,000 $2,570,000 252.1% 2.0%
Armed Forces Bank $4,415,000 $2,565,000 -41.9% 2.0%
USAA Federal Savings Bank $12,120,000 $2,275,000 -81.2% 1.8%
PENNYMAC LOAN SERVICES, LLC $4,035,000 $2,070,000 -48.7% 1.6%
Prosperity Home Mortgage, LLC $975,000 $1,170,000 20.0% 0.9%
Paramount Bank $1,160,000 n/a 0.9%
CMG MORTGAGE, INC. $2,200,000 $1,155,000 -47.5% 0.9%
CARDINAL FINANCIAL $705,000 $1,150,000 63.1% 0.9%
Wells Fargo Bank $1,925,000 $1,040,000 -46.0% 0.8%
Mr. Cooper ( Nationstar Mortgage ) $1,810,000 $885,000 -51.1% 0.7%
FREEDOM MORTGAGE CORPORATION $1,625,000 $845,000 -48.0% 0.7%
21ST MORTGAGE CORPORATION $670,000 $840,000 25.4% 0.7%
BROKER SOLUTIONS, INC. $1,150,000 $795,000 -30.9% 0.6%
MORTGAGE SOLUTIONS OF COLORADO, LLC $365,000 $755,000 106.8% 0.6%
Sierra Pacific Mortgage Company, Inc. $745,000 n/a 0.6%
GUILD MORTGAGE COMPANY $140,000 $585,000 317.9% 0.5%
HOMEBRIDGE FINANCIAL SERVICES, INC. $215,000 $580,000 169.8% 0.5%
NEWREZ LLC $685,000 $570,000 -16.8% 0.4%
PREMIA MORTGAGE, LLC $550,000 n/a 0.4%
LOANDEPOT.COM, LLC $2,685,000 $545,000 -79.7% 0.4%
CROSSCOUNTRY MORTGAGE, LLC $530,000 $510,000 -3.8% 0.4%
Access Community Credit Union $460,000 $505,000 9.8% 0.4%
Amarillo National Bank $500,000 n/a 0.4%
RIO GRANDE $500,000 n/a 0.4%
BNC National Bank $470,000 n/a 0.4%
JPMorgan Chase Bank $660,000 $460,000 -30.3% 0.4%
First Federal Bank $360,000 $430,000 19.4% 0.3%
MOVEMENT MORTGAGE, LLC $1,960,000 $350,000 -82.1% 0.3%
INTERCAP LENDING INC. $345,000 n/a 0.3%
Barrington Bank & Trust Company, N.A. $340,000 n/a 0.3%
Meridian Bank Corporation $335,000 n/a 0.3%
First American Bank $235,000 $325,000 38.3% 0.3%
The Huntington National Bank $235,000 $325,000 38.3% 0.3%
Servion, Inc. $315,000 n/a 0.2%
Brighton Bank $305,000 n/a 0.2%
Bank of England $285,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $1,005,000 $275,000 -72.6% 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $665,000 $265,000 -60.2% 0.2%
U.S. Bank $1,675,000 $260,000 -84.5% 0.2%
Magnolia Bank $255,000 n/a 0.2%
Equity Prime Mortgage LLC $245,000 n/a 0.2%
First Financial Bank $245,000 n/a 0.2%
Paramount Residential Mortgage Group, Inc. $235,000 n/a 0.2%
Sunflower Bank $235,000 n/a 0.2%
Capital Bank $225,000 n/a 0.2%
CLEARPATH LENDING $225,000 n/a 0.2%
Carrington Mortgage Services, LLC $675,000 $220,000 -67.4% 0.2%
SANDIA LABORATORY $220,000 n/a 0.2%
T2 FINANCIAL LLC $215,000 n/a 0.2%
Century Mortgage Company DBA Century Lending Company $235,000 $205,000 -12.8% 0.2%
CHURCHILL MORTGAGE CORPORATION $470,000 $205,000 -56.4% 0.2%
SECURITYNATIONAL MORTGAGE COMPANY $390,000 $205,000 -47.4% 0.2%
Flagstar Bank, FSB $720,000 $200,000 -72.2% 0.2%
AMERISAVE MORTGAGE CORPORATION $325,000 $195,000 -40.0% 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $190,000 n/a 0.1%
Ally Bank $185,000 n/a 0.1%
Ameris Bank $185,000 n/a 0.1%
Washington Federal Bank $345,000 $185,000 -46.4% 0.1%
Loan Simple, Inc. $5,000 $145,000 2,800.0% 0.1%
SOUTHWEST STAGE FUNDING, LLC $145,000 n/a 0.1%
AMERICA FIRST $135,000 n/a 0.1%
MANN FINANCIAL INC. $135,000 n/a 0.1%
Discover Bank $130,000 n/a 0.1%
ACADEMY MORTGAGE CORPORATION $100,000 $125,000 25.0% 0.1%
DIRECTORS MORTGAGE, INC. $120,000 $125,000 4.2% 0.1%
MOUNTAIN AMERICA $125,000 n/a 0.1%
Secured Investment Corp. $125,000 n/a 0.1%
PNC Bank $55,000 $115,000 109.1% 0.1%
Bank of America $525,000 $105,000 -80.0% 0.1%
ROYAL UNITED MORTGAGE LLC $75,000 $105,000 40.0% 0.1%
Western Commerce Bank $235,000 $105,000 -55.3% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $360,000 $95,000 -73.6% 0.1%
BETTER MORTGAGE CORPORATION $410,000 $85,000 -79.3% 0.1%
First Financial Credit Union $85,000 n/a 0.1%
DAS Acquisition Company, LLC $75,000 n/a 0.1%
FINANCE OF AMERICA REVERSE LLC $75,000 n/a 0.1%
Neighborhood Loans, Inc. $75,000 n/a 0.1%
NUSENDA $5,150,000 $70,000 -98.6% 0.1%
CREDIT HUMAN FEDERAL CREDIT UNION $65,000 n/a 0.1%
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $65,000 n/a 0.1%
Truist $65,000 n/a 0.1%
Coastal Community Bank $55,000 n/a 0.0%

Clovis's top lender by overall market share is PRIMARY RESIDENTIAL MORTGAGE, INC., with 19.4% market share. In second place, with 10.8%, is Mortgage Research Center, LLC, having originated $13,835,000 in loans. In third place, with 8.5%, is Bell Bank, having originated $10,800,000 in loans. In fourth place, with 8.1%, is NBKC BANK, having originated $10,330,000 in loans. In fifth place, with 7.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $9,070,000 in loans.

Clovis, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 558 $114,210,000 $204,677
Cash Out Refi 50 $8,160,000 $163,200
Refi 18 $3,820,000 $212,222
Other 16 $830,000 $51,875
Home Improvement 10 $750,000 $75,000

Clovis's most frequently cited loan purpose was Home Purchase, with 558 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 282 $58,280,000 $206,667
5-6% 167 $37,085,000 $222,066
7-8% 121 $23,335,000 $192,851
Over 8% 52 $3,590,000 $69,038
4-5% 8 $1,960,000 $245,000
3-4% 8 $1,060,000 $132,500
<2.5% 6 $850,000 $141,667
2.5-3% 4 $700,000 $175,000

During 2023, Clovis's most frequently originated rate bucket was 6-7%, with 282 originations.

Loan Sizing (Clovis, NM MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 297 $79,455,000 $267,525
$100k-200k 223 $34,365,000 $154,103
$100,000 or less 116 $6,390,000 $55,086
$400k-600k 15 $6,925,000 $461,667
$600k-1000k 1 $635,000 $635,000

Clovis's loan sizing saw the bucket of loans from $200k-400k with 297 originations, totaling $79,455,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 402 $86,220,000 $214,478
60-80% 84 $13,700,000 $163,095
Over 100% 84 $21,980,000 $261,667
Under 20% 41 $615,000 $15,000
20-40% 19 $2,105,000 $110,789
40-60% 14 $1,370,000 $97,857

Clovis's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 402 originations, totaling $86,220,000 in origination value.