Gallup Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gallup averaged
7.01%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.74% and
one month ago for the week of 2025-05-15, the
average rate was 6.61%.
Gallup's average rate one year ago was 7.15%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.11%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Gallup 30 Year Fixed Rate | 2025-06-18 | 7.01% |
| Gallup 30 Year Fixed Rate Refi | 2025-06-18 | 7.11% |
| Gallup 15 Year Fixed Rate | 2025-06-18 | 6.06% |
| Gallup 15 Year Fixed Rate Refi | 2025-06-18 | 6.16% |
| Gallup 30 Year FHA | 2025-06-18 | -0.2% |
| Gallup 30 Year FHA Refi | 2025-06-18 | -0.2% |
| Gallup 30 Year USDA | 2025-06-18 | 0% |
| Gallup 30 Year USDA Refi | 2025-06-18 | -0.2% |
| Gallup 30 Year VA | 2025-06-18 | -0.1% |
| Gallup 30 Year VA Refi | 2025-06-18 | -0.2% |
Gallup 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 Gallup, 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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| QUICKEN LOANS, LLC | 9 | 6.97% | $8,934 |
| Waterstone Mortgage Corporation | 6 | 6.73% | $6,971 |
| CALCON MUTUAL MORTGAGE LLC | 4 | 6.78% | $6,569 |
| First Financial Credit Union | 4 | 6.66% | $5,713 |
| Bank of Colorado | 3 | 7.63% | $5,727 |
| Wells Fargo Bank | 2 | 6.63% | $4,878 |
| BOKF | 2 | 7.06% | $4,825 |
| BROKER SOLUTIONS, INC. | 2 | 6.63% | $10,599 |
| JPMorgan Chase Bank | 2 | 7.24% | $2,677 |
| LOANDEPOT.COM, LLC | 2 | 7.38% | $5,722 |
| NUSENDA | 2 | 6.31% | $3,559 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 2 | 7.12% | $2,739 |
| Wallick & Volk, Inc. | 1 | 6.38% | $5,819 |
| MID AMERICA MORTGAGE, INC. | 1 | 6.63% | $6,121 |
| MOVEMENT MORTGAGE, LLC | 1 | 6.99% | $4,434 |
| NAVY FEDERAL CREDIT UNION | 1 | 6.88% | $4,499 |
| Ally Bank | 1 | 6.00% | $6,978 |
| 21ST MORTGAGE CORPORATION | 1 | 8.30% | $5,803 |
| Bank of America | 1 | 7.38% | $3,667 |
| SANDIA LABORATORY | 1 | 5.63% | $775 |
| CMG MORTGAGE, INC. | 1 | 7.99% | $7,366 |
| GUARANTEED RATE AFFINITY, LLC | 1 | 6.63% | $1,726 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.63% | $12,620 |
| LENDSURE MORTGAGE CORP. | 1 | 9.25% | $7,405 |
Gallup Average Closing Costs & Other Stats
Gallup, NM's 24 lenders originated 221
loans during 2024. The total origination value was $35,745,000, with an average loan value of
$161,742.
Gallup's average closing costs are $5,749.
The top Gallup lender as defined by loan originations is QUICKEN LOANS, LLC, with
9 loans originated. Their average total fees are
$8,934, which is $1,962
higher than the next largest lender,
Waterstone Mortgage Corporation.
The lowest fee Gallup lenders (with over 10 loans originated) are
.
The lowest rate Gallup lenders (with over 10 loans originated) are
.
Gallup, 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $2,130,000 | $4,660,000 | 118.8% | 13.0% |
| Waterstone Mortgage Corporation | $2,165,000 | $3,795,000 | 75.3% | 10.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,310,000 | $3,170,000 | 37.2% | 8.9% |
| Bank of Colorado | $2,980,000 | $3,040,000 | 2.0% | 8.5% |
| CALCON MUTUAL MORTGAGE LLC | $1,665,000 | $2,100,000 | 26.1% | 5.9% |
| Mortgage Research Center, LLC | $1,945,000 | $1,740,000 | -10.5% | 4.9% |
| 21ST MORTGAGE CORPORATION | $835,000 | $1,525,000 | 82.6% | 4.3% |
| CMG MORTGAGE, INC. | $655,000 | $1,190,000 | 81.7% | 3.3% |
| Chickasaw Community Bank | $175,000 | $1,050,000 | 500.0% | 2.9% |
| First Financial Credit Union | $355,000 | $1,040,000 | 193.0% | 2.9% |
| BOKF | $825,000 | $1,015,000 | 23.0% | 2.8% |
| USAA Federal Savings Bank | $845,000 | $1,005,000 | 18.9% | 2.8% |
| GUARANTEED RATE AFFINITY, LLC | $275,000 | $720,000 | 161.8% | 2.0% |
| NUSENDA | $190,000 | $660,000 | 247.4% | 1.8% |
| BROKER SOLUTIONS, INC. | $280,000 | $655,000 | 133.9% | 1.8% |
| NAVY FEDERAL CREDIT UNION | $1,120,000 | $645,000 | -42.4% | 1.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $640,000 | n/a | 1.8% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $365,000 | $590,000 | 61.6% | 1.7% |
| Wells Fargo Bank | $220,000 | $585,000 | 165.9% | 1.6% |
| LOANDEPOT.COM, LLC | $875,000 | $570,000 | -34.9% | 1.6% |
| FREEDOM MORTGAGE CORPORATION | $500,000 | n/a | 1.4% | |
| UNITED WHOLESALE MORTGAGE, LLC | $390,000 | $460,000 | 17.9% | 1.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $265,000 | $440,000 | 66.0% | 1.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $660,000 | $375,000 | -43.2% | 1.0% |
| SANDIA LABORATORY | $890,000 | $360,000 | -59.6% | 1.0% |
| STATE EMPLOYEES | $345,000 | n/a | 1.0% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $275,000 | n/a | 0.8% | |
| Washington Federal Bank | $225,000 | $245,000 | 8.9% | 0.7% |
| U.S. Bank | $360,000 | $240,000 | -33.3% | 0.7% |
| PLANET HOME LENDING, LLC | $225,000 | n/a | 0.6% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $215,000 | n/a | 0.6% | |
| MID AMERICA MORTGAGE, INC. | $1,335,000 | $205,000 | -84.6% | 0.6% |
| Wallick & Volk, Inc. | $205,000 | n/a | 0.6% | |
| GUILD MORTGAGE COMPANY | $245,000 | $190,000 | -22.4% | 0.5% |
| JPMorgan Chase Bank | $190,000 | n/a | 0.5% | |
| Bank of America | $395,000 | $180,000 | -54.4% | 0.5% |
| Ally Bank | $145,000 | n/a | 0.4% | |
| LENDSURE MORTGAGE CORP. | $125,000 | n/a | 0.3% | |
| MOVEMENT MORTGAGE, LLC | $125,000 | $115,000 | -8.0% | 0.3% |
| Coastal Community Bank | $45,000 | n/a | 0.1% |
Gallup's top lender by overall market share is QUICKEN LOANS, LLC, with 13.0% market share. In second place, with 10.6%, is Waterstone Mortgage Corporation, having originated $3,795,000 in loans. In third place, with 8.9%, is VANDERBILT MORTGAGE AND FINANCE, INC., having originated $3,170,000 in loans. In fourth place, with 8.5%, is Bank of Colorado, having originated $3,040,000 in loans. In fifth place, with 5.9%, is CALCON MUTUAL MORTGAGE LLC, having originated $2,100,000 in loans.
Gallup, NM Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 150 | $25,600,000 | $170,667 |
| Cash Out Refi | 27 | $4,295,000 | $159,074 |
| Home Improvement | 18 | $1,670,000 | $92,778 |
| Refi | 18 | $3,500,000 | $194,444 |
| Other | 8 | $680,000 | $85,000 |
Gallup's most frequently cited loan purpose was Home Purchase, with 150 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 78 | $16,750,000 | $214,744 |
| Over 8% | 70 | $7,090,000 | $101,286 |
| 7-8% | 43 | $6,665,000 | $155,000 |
| 5-6% | 21 | $4,725,000 | $225,000 |
| <2.5% | 5 | $75,000 | $15,000 |
| 4-5% | 1 | $155,000 | $155,000 |
| 3-4% | 1 | $165,000 | $165,000 |
During 2024, Gallup's most frequently originated rate bucket was 6-7%, with 78 originations.
Loan Sizing (Gallup, NM MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 90 | $12,800,000 | $142,222 |
| $200k-400k | 65 | $18,055,000 | $277,769 |
| $100,000 or less | 63 | $3,395,000 | $53,889 |
| $400k-600k | 2 | $880,000 | $440,000 |
| $600k-1000k | 1 | $615,000 | $615,000 |
Gallup's loan sizing saw the bucket of loans from $100k-200k with 90 originations, totaling $12,800,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 107 | $21,165,000 | $197,804 |
| 60-80% | 48 | $8,670,000 | $180,625 |
| 40-60% | 20 | $2,480,000 | $124,000 |
| Under 20% | 20 | $270,000 | $13,500 |
| 20-40% | 19 | $1,505,000 | $79,211 |
| Over 100% | 3 | $945,000 | $315,000 |
Gallup's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 107 originations, totaling $21,165,000 in origination value.