Clovis Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Clovis averaged 6.85% for the week of 2024-04-11, compared to the national average of 6.88% for the same period.

    The average rate for the prior week (2024-04-04) was 6.49% and one month ago for the week of 2024-03-07, the average rate was 6.75%.

    Clovis's average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-11, the average rate was 7.28%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-11 6.88%
    Clovis 30 Year Fixed Rate 2024-04-11 6.85%
    Clovis 30 Year Fixed Rate Refi 2024-04-11 7.28%
    Clovis 15 Year Fixed Rate 2024-04-11 6.26%
    Clovis 15 Year Fixed Rate Refi 2024-04-11 6.36%
    Clovis 30 Year FHA 2024-04-11 6.14%
    Clovis 30 Year FHA Refi 2024-04-11 6.74%
    Clovis 30 Year USDA 2024-04-11 6.61%
    Clovis 30 Year USDA Refi 2024-04-11 6.51%
    Clovis 30 Year VA 2024-04-11 6.3%
    Clovis 30 Year VA Refi 2024-04-11 6.47%
    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 Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Clovis (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 $174,900 (10.4%) $190,990 (7.6%) 0.00 314
    2018-02-01 $174,950 (6.4%) $198,694 (10.3%) 0.00 308
    2018-03-01 $175,000 (3.9%) $194,052 (5.3%) 0.00 311
    2018-04-01 $179,450 (5.6%) $202,432 (8.4%) 0.00 294
    2018-05-01 $179,950 (3.7%) $201,801 (7.4%) 0.00 308
    2018-06-01 $180,000 (6.6%) $201,962 (9.1%) 0.00 336
    2018-07-01 $179,925 (6.6%) $200,499 (8.2%) 0.00 355
    2018-08-01 $178,900 (6.1%) $195,154 (7.0%) 0.00 368
    2018-09-01 $179,900 (5.9%) $197,365 (7.4%) 0.00 350
    2018-10-01 $178,750 (5.2%) $197,489 (6.8%) 0.00 326
    2018-11-01 $178,750 (4.0%) $197,240 (4.7%) 0.00 301
    2018-12-01 $179,900 (5.8%) $194,726 (3.8%) 0.00 270
    2019-01-01 $175,000 (0.1%) $190,306 (-0.4%) 0.00 259
    2019-02-01 $173,850 (-0.6%) $190,597 (-4.1%) 0.00 258
    2019-03-01 $179,286 (2.5%) $274,357 (41.4%) 0.00 263
    2019-04-01 $175,536 (-2.2%) $273,499 (35.1%) 0.00 266
    2019-05-01 $182,075 (1.2%) $193,797 (-4.0%) 0.00 269
    2019-06-01 $178,750 (-0.7%) $191,478 (-5.2%) 0.00 282
    2019-07-01 $179,850 (0.0%) $195,073 (-2.7%) 0.00 270
    2019-08-01 $179,382 (0.3%) $194,205 (-0.5%) 0.00 270
    2019-09-01 $178,605 (-0.7%) $191,025 (-3.2%) 0.00 273
    2019-10-01 $173,950 (-2.7%) $186,923 (-5.4%) 0.00 271
    2019-11-01 $165,000 (-7.7%) $177,080 (-10.2%) 0.00 251
    2019-12-01 $164,450 (-8.6%) $176,174 (-9.5%) 0.00 242
    2020-01-01 $161,140 (-7.9%) $172,453 (-9.4%) 0.00 221
    2020-02-01 $159,900 (-8.0%) $171,954 (-9.8%) 0.00 215
    2020-03-01 $158,450 (-11.6%) $174,621 (-36.4%) 0.00 221
    2020-04-01 $157,100 (-10.5%) $171,045 (-37.5%) 0.00 230
    2020-05-01 $159,000 (-12.7%) $176,737 (-8.8%) 0.00 203
    2020-06-01 $168,450 (-5.8%) $178,783 (-6.6%) 0.00 183
    2020-07-01 $170,950 (-5.0%) $180,768 (-7.3%) 0.00 185
    2020-08-01 $179,200 (-0.1%) $186,692 (-3.9%) 0.00 181
    2020-09-01 $176,975 (-0.9%) $190,332 (-0.4%) 0.00 155
    2020-10-01 $173,750 (-0.1%) $192,345 (2.9%) 0.00 148
    2020-11-01 $169,450 (2.7%) $187,055 (5.6%) 0.00 148
    2020-12-01 $167,000 (1.6%) $182,934 (3.8%) 0.00 153
    2021-01-01 $169,000 (4.9%) $180,881 (4.9%) 0.00 155
    2021-02-01 $174,950 (9.4%) $189,815 (10.4%) 0.00 156
    2021-03-01 $167,125 (5.5%) $183,985 (5.4%) 0.00 142
    2021-04-01 $163,750 (4.2%) $185,355 (8.4%) 0.00 120
    2021-05-01 $176,950 (11.3%) $193,813 (9.7%) 0.00 106
    2021-06-01 $177,450 (5.3%) $201,109 (12.5%) 0.00 115
    2021-07-01 $204,000 (19.3%) $205,051 (13.4%) 0.00 98
    2021-08-01 $195,750 (9.2%) $207,718 (11.3%) 0.00 99
    2021-09-01 $194,475 (9.9%) $215,697 (13.3%) 0.00 100
    2021-10-01 $197,450 (13.6%) $218,605 (13.7%) 0.00 97
    2021-11-01 $184,900 (9.1%) $219,116 (17.1%) 0.00 102
    2021-12-01 $186,950 (12.0%) $224,516 (22.7%) 0.00 91
    2022-01-01 $189,000 (11.8%) $252,102 (39.4%) 0.00 65
    2022-02-01 $208,250 (19.0%) $265,655 (40.0%) 0.00 66
    2022-03-01 $199,125 (19.2%) $265,953 (44.6%) 0.00 61
    2022-04-01 $230,000 (40.5%) $268,764 (45.0%) 0.00 62
    2022-05-01 $224,975 (27.1%) $254,780 (31.5%) 0.00 99
    2022-06-01 $219,950 (24.0%) $253,641 (26.1%) 0.00 105
    2022-07-01 $227,450 (11.5%) $258,177 (25.9%) 0.00 113
    2022-08-01 $233,750 (19.4%) $257,904 (24.2%) 0.00 123
    2022-09-01 $223,075 (14.7%) $256,314 (18.8%) 0.00 112
    2022-10-01 $239,500 (21.3%) $270,171 (23.6%) 0.00 112
    2022-11-01 $242,475 (31.1%) $266,743 (21.7%) 0.00 131
    2022-12-01 $240,000 (28.4%) $262,318 (16.8%) 0.00 132
    2023-01-01 $241,950 (28.0%) $263,367 (4.5%) 0.00 116
    2023-02-01 $240,500 (15.5%) $266,339 (0.3%) 0.00 94
    2023-03-01 $242,225 (21.6%) $271,014 (1.9%) 0.00 92
    2023-04-01 $230,000 (0.0%) $259,224 (-3.6%) 0.00 100
    2023-05-01 $224,000 (-0.4%) $248,349 (-2.5%) 0.00 112
    2023-06-01 $240,675 (9.4%) $252,409 (-0.5%) 0.00 109
    2023-07-01 $236,250 (3.9%) $253,256 (-1.9%) 0.00 110
    2023-08-01 $244,500 (4.6%) $260,725 (1.1%) 0.00 114
    2023-09-01 $235,000 (5.4%) $266,693 (4.1%) 0.00 133
    2023-10-01 $244,950 (2.3%) $264,872 (-2.0%) 0.00 147
    2023-11-01 $245,000 (1.0%) $260,197 (-2.5%) 0.00 156
    2023-12-01 $242,000 (0.8%) $252,894 (-3.6%) 0.00 158
    2024-01-01 $243,500 (0.6%) $251,150 (-4.6%) 0.00 140
    2024-02-01 $244,975 (1.9%) $256,825 (-3.6%) 0.00 130
    2024-03-01 $245,000 (1.2%) $259,456 (-4.3%) 0.00 142
    Clovis's median listing price for 2024-03-01 was $245,000, a difference of $2,775 (1.2%) versus the prior year and $25 versus the prior month.

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

    Clovis's average listing price for 2024-03-01 was $259,456, a difference of $-11,558 (-4.3%) versus the prior year and $2,631 versus the prior month.

    For the 2024-03-01 period, Clovis had 142 MLS listings, a difference of 12 listings (9%) versus the prior month and 50 listings (54%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Clovis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,827 sqft
    2018-02-01 0 days 1,841 sqft
    2018-03-01 0 days 1,823 sqft
    2018-04-01 0 days 1,841 sqft
    2018-05-01 0 days 1,832 sqft
    2018-06-01 0 days 1,840 sqft
    2018-07-01 0 days 1,858 sqft
    2018-08-01 0 days 1,844 sqft
    2018-09-01 0 days 1,844 sqft
    2018-10-01 0 days 1,840 sqft
    2018-11-01 0 days 1,854 sqft
    2018-12-01 0 days 1,856 sqft
    2019-01-01 0 days 1,817 sqft
    2019-02-01 0 days 1,825 sqft
    2019-03-01 0 days 1,843 sqft
    2019-04-01 0 days 1,847 sqft
    2019-05-01 0 days 1,853 sqft
    2019-06-01 0 days 1,852 sqft
    2019-07-01 0 days 1,832 sqft
    2019-08-01 0 days 1,814 sqft
    2019-09-01 0 days 1,802 sqft
    2019-10-01 0 days 1,784 sqft
    2019-11-01 0 days 1,752 sqft
    2019-12-01 0 days 1,693 sqft
    2020-01-01 0 days 1,681 sqft
    2020-02-01 0 days 1,691 sqft
    2020-03-01 0 days 1,670 sqft
    2020-04-01 0 days 1,684 sqft
    2020-05-01 0 days 1,712 sqft
    2020-06-01 0 days 1,706 sqft
    2020-07-01 0 days 1,781 sqft
    2020-08-01 0 days 1,777 sqft
    2020-09-01 0 days 1,745 sqft
    2020-10-01 0 days 1,768 sqft
    2020-11-01 0 days 1,718 sqft
    2020-12-01 0 days 1,678 sqft
    2021-01-01 0 days 1,676 sqft
    2021-02-01 0 days 1,721 sqft
    2021-03-01 0 days 1,675 sqft
    2021-04-01 0 days 1,672 sqft
    2021-05-01 0 days 1,749 sqft
    2021-06-01 0 days 1,696 sqft
    2021-07-01 0 days 1,723 sqft
    2021-08-01 0 days 1,765 sqft
    2021-09-01 0 days 1,862 sqft
    2021-10-01 0 days 1,830 sqft
    2021-11-01 0 days 1,742 sqft
    2021-12-01 0 days 1,739 sqft
    2022-01-01 0 days 1,862 sqft
    2022-02-01 0 days 1,805 sqft
    2022-03-01 0 days 1,807 sqft
    2022-04-01 0 days 1,892 sqft
    2022-05-01 0 days 1,771 sqft
    2022-06-01 0 days 1,769 sqft
    2022-07-01 0 days 1,841 sqft
    2022-08-01 0 days 1,795 sqft
    2022-09-01 0 days 1,765 sqft
    2022-10-01 0 days 1,848 sqft
    2022-11-01 0 days 1,897 sqft
    2022-12-01 0 days 1,865 sqft
    2023-01-01 0 days 1,856 sqft
    2023-02-01 0 days 1,851 sqft
    2023-03-01 0 days 1,836 sqft
    2023-04-01 0 days 1,761 sqft
    2023-05-01 0 days 1,707 sqft
    2023-06-01 0 days 1,735 sqft
    2023-07-01 0 days 1,714 sqft
    2023-08-01 0 days 1,706 sqft
    2023-09-01 0 days 1,706 sqft
    2023-10-01 0 days 1,749 sqft
    2023-11-01 0 days 1,798 sqft
    2023-12-01 0 days 1,789 sqft
    2024-01-01 0 days 1,779 sqft
    2024-02-01 0 days 1,703 sqft
    2024-03-01 0 days 1,700 sqft
    Clovis's median listing age (time on market) for 2024-03-01 was 0 days.

    Clovis's median square footage for active listings during the 2024-03-01 period was 1,700 sqft. One year prior, the average listing was 1,836 sqft.

    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.