Gallup Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Gallup averaged 6.97% for the week of 2025-02-13, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2025-02-06) was 7.09% and one month ago for the week of 2025-01-09, the average rate was 6.93%.

Gallup's average rate one year ago was 6.84%.

For refis of the same type during the week of 2025-02-13, the average rate was 6.97%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-02-13 6.87%
Gallup 30 Year Fixed Rate 2025-02-13 6.97%
Gallup 30 Year Fixed Rate Refi 2025-02-13 6.97%
Gallup 15 Year Fixed Rate 2025-02-13 6.19%
Gallup 15 Year Fixed Rate Refi 2025-02-13 6.29%
Gallup 30 Year FHA 2025-02-13 6.32%
Gallup 30 Year FHA Refi 2025-02-13 6.82%
Gallup 30 Year USDA 2025-02-13 6.73%
Gallup 30 Year USDA Refi 2025-02-13 6.53%
Gallup 30 Year VA 2025-02-13 6.23%
Gallup 30 Year VA Refi 2025-02-13 6.43%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Gallup, NM.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 7 6.89% $6,719
Waterstone Mortgage Corporation 5 6.80% $7,383
DAS Acquisition Company, LLC 4 6.97% $7,973
Bank of Colorado 4 6.59% $4,656
NAVY FEDERAL CREDIT UNION 3 6.50% $3,320
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.17% $5,781
SANDIA LABORATORY 3 6.50% $4,051
Washington Federal Bank 3 6.96% $4,129
BOKF 2 7.06% $4,565
Nations Lending Corporation 2 6.50% $9,291
CALCON MUTUAL MORTGAGE LLC 2 7.13% $4,389
First Financial Credit Union 2 5.94% $3,785
Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $2,133
Prosperity Home Mortgage, LLC 1 6.88% $5,674
Truist 1 7.60% $4,090
UNITED WHOLESALE MORTGAGE, LLC 1 6.65% $5,984
USAA Federal Savings Bank 1 5.88% $5,097
U.S. Bank 1 6.38% $3,489
VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.25% $4,036
LOANDEPOT.COM, LLC 1 6.99% $5,255
Barrington Bank & Trust Company, N.A. 1 7.00% $4,654
BROKER SOLUTIONS, INC. 1 7.63% $7,307
CARDINAL FINANCIAL 1 6.99% $6,292
CMG MORTGAGE, INC. 1 6.50% $6,418
DIRECTORS MORTGAGE, INC. 1 6.13% $9,322
FIRST COMMUNITY MORTGAGE, INC. 1 7.50% $4,111
GUARANTEED RATE AFFINITY, LLC 1 7.99% $4,012
GUILD MORTGAGE COMPANY 1 7.75% $3,543
KeyBank 1 7.75% $7,659
Bank of America 1 5.25% $501
Mortgage Research Center, LLC 1 7.25% $2,291

Gallup Average Closing Costs & Other Stats

Gallup, NM's 31 lenders originated 202 loans during 2023. The total origination value was $33,210,000, with an average loan value of $164,406.

Gallup's average closing costs are $5,561.

The top Gallup lender as defined by loan originations is QUICKEN LOANS, LLC, with 7 loans originated. Their average total fees are $6,719, which is $665 lower 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Bank of Colorado $4,225,000 $2,980,000 -29.5% 9.0%
VANDERBILT MORTGAGE AND FINANCE, INC. $2,575,000 $2,310,000 -10.3% 7.0%
Waterstone Mortgage Corporation $5,225,000 $2,165,000 -58.6% 6.5%
QUICKEN LOANS, LLC $4,555,000 $2,130,000 -53.2% 6.4%
Mortgage Research Center, LLC $2,145,000 $1,945,000 -9.3% 5.9%
CALCON MUTUAL MORTGAGE LLC $3,635,000 $1,665,000 -54.2% 5.0%
DAS Acquisition Company, LLC $1,335,000 n/a 4.0%
MID AMERICA MORTGAGE, INC. $605,000 $1,335,000 120.7% 4.0%
NAVY FEDERAL CREDIT UNION $805,000 $1,120,000 39.1% 3.4%
Nations Lending Corporation $1,870,000 $955,000 -48.9% 2.9%
SANDIA LABORATORY $890,000 n/a 2.7%
LOANDEPOT.COM, LLC $2,110,000 $875,000 -58.5% 2.6%
USAA Federal Savings Bank $375,000 $845,000 125.3% 2.5%
21ST MORTGAGE CORPORATION $1,450,000 $835,000 -42.4% 2.5%
BOKF $675,000 $825,000 22.2% 2.5%
Mr. Cooper ( Nationstar Mortgage ) $620,000 $660,000 6.5% 2.0%
CMG MORTGAGE, INC. $1,170,000 $655,000 -44.0% 2.0%
CARDINAL FINANCIAL $650,000 n/a 2.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $270,000 $645,000 138.9% 1.9%
LOANPAL, LLC $690,000 $565,000 -18.1% 1.7%
Bank of America $310,000 $395,000 27.4% 1.2%
UNITED WHOLESALE MORTGAGE, LLC $1,020,000 $390,000 -61.8% 1.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $235,000 $365,000 55.3% 1.1%
U.S. Bank $1,150,000 $360,000 -68.7% 1.1%
First Financial Credit Union $885,000 $355,000 -59.9% 1.1%
Commerce Home Mortgage, Inc. $330,000 n/a 1.0%
FIRST COMMUNITY MORTGAGE, INC. $310,000 n/a 0.9%
BETTER MORTGAGE CORPORATION $785,000 $305,000 -61.1% 0.9%
PENNYMAC LOAN SERVICES, LLC $950,000 $295,000 -68.9% 0.9%
Truist $295,000 n/a 0.9%
BROKER SOLUTIONS, INC. $205,000 $280,000 36.6% 0.8%
MORTGAGE SOLUTIONS OF COLORADO, LLC $380,000 $280,000 -26.3% 0.8%
GUARANTEED RATE AFFINITY, LLC $265,000 $275,000 3.8% 0.8%
MUTUAL OF OMAHA MORTGAGE, INC. $75,000 $265,000 253.3% 0.8%
GUILD MORTGAGE COMPANY $245,000 n/a 0.7%
Loan Simple, Inc. $205,000 $240,000 17.1% 0.7%
Bank of England $235,000 n/a 0.7%
KeyBank $225,000 n/a 0.7%
Washington Federal Bank $5,110,000 $225,000 -95.6% 0.7%
Wells Fargo Bank $1,990,000 $220,000 -88.9% 0.7%
First-Citizens Bank & Trust Company $215,000 n/a 0.6%
SOUTHWEST STAGE FUNDING, LLC $205,000 n/a 0.6%
NUSENDA $420,000 $190,000 -54.8% 0.6%
Carrington Mortgage Services, LLC $720,000 $175,000 -75.7% 0.5%
Chickasaw Community Bank $450,000 $175,000 -61.1% 0.5%
MOUNTAIN AMERICA $550,000 $165,000 -70.0% 0.5%
DIRECTORS MORTGAGE, INC. $135,000 n/a 0.4%
MOVEMENT MORTGAGE, LLC $125,000 n/a 0.4%
NEWREZ LLC $280,000 $115,000 -58.9% 0.3%
COUNTRYPLACE MORTGAGE, LTD. $105,000 n/a 0.3%
PNC Bank $285,000 $105,000 -63.2% 0.3%
Prosperity Home Mortgage, LLC $85,000 n/a 0.3%
Flagstar Bank, FSB $75,000 n/a 0.2%
Barrington Bank & Trust Company, N.A. $250,000 $65,000 -74.0% 0.2%

Gallup's top lender by overall market share is Bank of Colorado, with 9.0% market share. In second place, with 7.0%, is VANDERBILT MORTGAGE AND FINANCE, INC., having originated $2,310,000 in loans. In third place, with 6.5%, is Waterstone Mortgage Corporation, having originated $2,165,000 in loans. In fourth place, with 6.4%, is QUICKEN LOANS, LLC, having originated $2,130,000 in loans. In fifth place, with 5.9%, is Mortgage Research Center, LLC, having originated $1,945,000 in loans.


Gallup Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Gallup (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 $158,975 (10.4%) $179,485 (7.9%) 0.00 74
2018-02-01 $149,450 (3.4%) $169,429 (2.7%) 0.00 75
2018-03-01 $144,900 (-2.7%) $170,860 (-0.5%) 0.00 77
2018-04-01 $149,000 (-8.9%) $178,262 (-4.4%) 0.00 80
2018-05-01 $149,925 (-8.6%) $185,872 (-1.9%) 0.00 92
2018-06-01 $151,000 (-10.4%) $185,050 (-3.6%) 0.00 94
2018-07-01 $147,500 (-10.6%) $180,790 (-2.4%) 0.00 94
2018-08-01 $149,475 (-4.8%) $180,114 (-0.7%) 0.00 95
2018-09-01 $155,000 (1.3%) $187,298 (5.7%) 0.00 101
2018-10-01 $151,475 (0.3%) $182,593 (4.4%) 0.00 99
2018-11-01 $144,950 (-6.8%) $184,960 (5.3%) 0.00 88
2018-12-01 $138,500 (-12.3%) $176,397 (-0.6%) 0.00 83
2019-01-01 $137,900 (-13.3%) $177,626 (-1.0%) 0.00 73
2019-02-01 $139,450 (-6.7%) $188,322 (11.2%) 0.00 71
2019-03-01 $139,929 (-3.4%) $187,232 (9.6%) 0.00 76
2019-04-01 $139,904 (-6.1%) $183,545 (3.0%) 0.00 80
2019-05-01 $155,750 (3.9%) $182,742 (-1.7%) 0.00 88
2019-06-01 $161,500 (7.0%) $189,277 (2.3%) 0.00 88
2019-07-01 $156,475 (6.1%) $201,852 (11.7%) 0.00 78
2019-08-01 $153,191 (2.5%) $202,514 (12.4%) 0.00 76
2019-09-01 $150,552 (-2.9%) $197,785 (5.6%) 0.00 76
2019-10-01 $154,043 (1.7%) $195,628 (7.1%) 0.00 74
2019-11-01 $168,250 (16.1%) $198,257 (7.2%) 0.00 70
2019-12-01 $169,220 (22.2%) $209,862 (19.0%) 0.00 66
2020-01-01 $174,000 (26.2%) $221,855 (24.9%) 0.00 63
2020-02-01 $169,250 (21.4%) $215,521 (14.4%) 0.00 61
2020-03-01 $179,025 (27.9%) $217,071 (15.9%) 0.00 59
2020-04-01 $184,900 (32.2%) $212,856 (16.0%) 0.00 58
2020-05-01 $180,150 (15.7%) $209,350 (14.6%) 0.00 61
2020-06-01 $173,750 (7.6%) $216,172 (14.2%) 0.00 49
2020-07-01 $175,750 (12.3%) $218,851 (8.4%) 0.00 50
2020-08-01 $174,100 (13.7%) $209,659 (3.5%) 0.00 59
2020-09-01 $172,614 (14.7%) $201,776 (2.0%) 0.00 56
2020-10-01 $173,000 (12.3%) $200,102 (2.3%) 0.00 56
2020-11-01 $175,250 (4.2%) $207,690 (4.8%) 0.00 63
2020-12-01 $189,900 (12.2%) $219,378 (4.5%) 0.00 62
2021-01-01 $177,950 (2.3%) $207,166 (-6.6%) 0.00 51
2021-02-01 $189,950 (12.2%) $221,687 (2.9%) 0.00 44
2021-03-01 $188,088 (5.1%) $225,637 (4.0%) 0.00 43
2021-04-01 $195,650 (5.8%) $235,534 (10.7%) 0.00 39
2021-05-01 $226,200 (25.6%) $266,856 (27.5%) 0.00 43
2021-06-01 $199,000 (14.5%) $249,449 (15.4%) 0.00 40
2021-07-01 $194,450 (10.6%) $241,501 (10.4%) 0.00 50
2021-08-01 $198,500 (14.0%) $245,109 (16.9%) 0.00 58
2021-09-01 $184,750 (7.0%) $221,283 (9.7%) 0.00 53
2021-10-01 $189,000 (9.3%) $223,675 (11.8%) 0.00 55
2021-11-01 $192,000 (9.6%) $239,476 (15.3%) 0.00 61
2021-12-01 $205,000 (8.0%) $238,839 (8.9%) 0.00 62
2022-01-01 $219,500 (23.4%) $255,872 (23.5%) 0.00 59
2022-02-01 $216,075 (13.8%) $263,544 (18.9%) 0.00 53
2022-03-01 $215,000 (14.3%) $255,184 (13.1%) 0.00 54
2022-04-01 $225,000 (15.0%) $295,996 (25.7%) 0.00 19
2022-05-01 $186,428 (-17.6%) $311,610 (16.8%) 0.00 19
2022-06-01 $218,725 (9.9%) $322,263 (29.2%) 0.00 23
2022-07-01 $280,000 (44.0%) $329,139 (36.3%) 0.00 29
2022-08-01 $285,725 (43.9%) $348,461 (42.2%) 0.00 23
2022-09-01 $229,625 (24.3%) $334,226 (51.0%) 0.00 20
2022-10-01 $217,200 (14.9%) $348,364 (55.8%) 0.00 21
2022-11-01 $234,547 (22.2%) $321,043 (34.1%) 0.00 22
2022-12-01 $176,500 (-13.9%) $259,512 (8.7%) 0.00 21
2023-01-01 $194,675 (-11.3%) $264,952 (3.6%) 0.00 19
2023-02-01 $235,875 (9.2%) $280,056 (6.3%) 0.00 18
2023-03-01 $212,375 (-1.2%) $287,976 (12.9%) 0.00 20
2023-04-01 $252,500 (12.2%) $303,627 (2.6%) 0.00 20
2023-05-01 $240,000 (28.7%) $261,756 (-16.0%) 0.00 22
2023-06-01 $256,500 (17.3%) $342,772 (6.4%) 0.00 21
2023-07-01 $265,700 (-5.1%) $350,674 (6.5%) 0.00 24
2023-08-01 $241,750 (-15.4%) $317,805 (-8.8%) 0.00 37
2023-09-01 $237,500 (3.4%) $553,451 (65.6%) 0.00 42
2023-10-01 $284,225 (30.9%) $334,231 (-4.1%) 0.00 36
2023-11-01 $289,000 (23.2%) $330,579 (3.0%) 0.00 36
2023-12-01 $220,000 (24.7%) $310,031 (19.5%) 0.00 34
2024-01-01 $202,700 (4.1%) $323,943 (22.3%) 0.00 32
2024-02-01 $212,528 (-9.9%) $323,811 (15.6%) 0.00 28
2024-03-01 $208,038 (-2.0%) $330,792 (14.9%) 0.00 26
2024-04-01 $234,000 (-7.3%) $322,343 (6.2%) 0.00 24
2024-05-01 $253,500 (5.6%) $323,925 (23.8%) 0.00 26
2024-06-01 $264,300 (3.0%) $290,797 (-15.2%) 0.00 34
2024-07-01 $315,350 (18.7%) $344,573 (-1.7%) 0.00 38
2024-08-01 $312,400 (29.2%) $328,843 (3.5%) 0.00 44
2024-09-01 $306,150 (28.9%) $313,540 (-43.4%) 0.00 44
2024-10-01 $271,700 (-4.4%) $293,926 (-12.1%) 0.00 47
2024-11-01 $259,500 (-10.2%) $288,887 (-12.6%) 0.00 47
2024-12-01 $250,000 (13.6%) $292,807 (-5.6%) 0.00 48
2025-01-01 $250,000 (23.3%) $297,104 (-8.3%) 0.00 44
Gallup's median listing price for 2025-01-01 was $250,000, a difference of $47,300 (23.3%) versus the prior year and $0 versus the prior month.

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

Gallup's average listing price for 2025-01-01 was $297,104, a difference of $-26,839 (-8.3%) versus the prior year and $4,297 versus the prior month.

For the 2025-01-01 period, Gallup had 44 MLS listings, a difference of -4 listings (-8%) versus the prior month and 12 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gallup (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,761 sqft
2018-02-01 0 days 1,603 sqft
2018-03-01 0 days 1,596 sqft
2018-04-01 0 days 1,617 sqft
2018-05-01 0 days 1,619 sqft
2018-06-01 0 days 1,608 sqft
2018-07-01 0 days 1,622 sqft
2018-08-01 0 days 1,607 sqft
2018-09-01 0 days 1,650 sqft
2018-10-01 0 days 1,624 sqft
2018-11-01 0 days 1,597 sqft
2018-12-01 0 days 1,572 sqft
2019-01-01 0 days 1,572 sqft
2019-02-01 0 days 1,572 sqft
2019-03-01 0 days 1,540 sqft
2019-04-01 0 days 1,569 sqft
2019-05-01 0 days 1,584 sqft
2019-06-01 0 days 1,589 sqft
2019-07-01 0 days 1,624 sqft
2019-08-01 0 days 1,599 sqft
2019-09-01 0 days 1,593 sqft
2019-10-01 0 days 1,599 sqft
2019-11-01 0 days 1,661 sqft
2019-12-01 0 days 1,737 sqft
2020-01-01 0 days 1,765 sqft
2020-02-01 0 days 1,621 sqft
2020-03-01 0 days 1,698 sqft
2020-04-01 0 days 1,878 sqft
2020-05-01 0 days 1,890 sqft
2020-06-01 0 days 1,893 sqft
2020-07-01 0 days 1,902 sqft
2020-08-01 0 days 1,792 sqft
2020-09-01 0 days 1,652 sqft
2020-10-01 0 days 1,651 sqft
2020-11-01 0 days 1,847 sqft
2020-12-01 0 days 1,929 sqft
2021-01-01 0 days 1,893 sqft
2021-02-01 0 days 1,821 sqft
2021-03-01 0 days 1,804 sqft
2021-04-01 0 days 1,751 sqft
2021-05-01 0 days 1,772 sqft
2021-06-01 0 days 1,749 sqft
2021-07-01 0 days 1,735 sqft
2021-08-01 0 days 1,728 sqft
2021-09-01 0 days 1,649 sqft
2021-10-01 0 days 1,775 sqft
2021-11-01 0 days 1,694 sqft
2021-12-01 0 days 1,712 sqft
2022-01-01 0 days 1,792 sqft
2022-02-01 0 days 1,788 sqft
2022-03-01 0 days 1,792 sqft
2022-04-01 0 days 1,812 sqft
2022-05-01 0 days 1,746 sqft
2022-06-01 0 days 1,982 sqft
2022-07-01 0 days 2,010 sqft
2022-08-01 0 days 1,813 sqft
2022-09-01 0 days 1,615 sqft
2022-10-01 0 days 1,614 sqft
2022-11-01 0 days 1,615 sqft
2022-12-01 0 days 1,581 sqft
2023-01-01 0 days 1,570 sqft
2023-02-01 0 days 1,618 sqft
2023-03-01 0 days 1,689 sqft
2023-04-01 0 days 1,732 sqft
2023-05-01 0 days 1,762 sqft
2023-06-01 0 days 2,000 sqft
2023-07-01 0 days 1,732 sqft
2023-08-01 0 days 1,664 sqft
2023-09-01 0 days 1,581 sqft
2023-10-01 0 days 1,573 sqft
2023-11-01 0 days 1,590 sqft
2023-12-01 0 days 1,527 sqft
2024-01-01 0 days 1,617 sqft
2024-02-01 0 days 1,723 sqft
2024-03-01 0 days 1,566 sqft
2024-04-01 0 days 1,584 sqft
2024-05-01 0 days 1,590 sqft
2024-06-01 0 days 1,782 sqft
2024-07-01 0 days 2,080 sqft
2024-08-01 0 days 2,075 sqft
2024-09-01 0 days 2,108 sqft
2024-10-01 0 days 1,867 sqft
2024-11-01 0 days 1,800 sqft
2024-12-01 0 days 1,778 sqft
2025-01-01 0 days 1,941 sqft
Gallup's median listing age (time on market) for 2025-01-01 was 0 days.

Gallup's median square footage for active listings during the 2025-01-01 period was 1,941 sqft. One year prior, the average listing was 1,617 sqft.

Gallup, NM Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 145 $25,825,000 $178,103
Cash Out Refi 28 $4,530,000 $161,786
Home Improvement 12 $940,000 $78,333
Other 9 $575,000 $63,889
Refi 8 $1,340,000 $167,500

Gallup's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 69 $13,205,000 $191,377
Over 8% 52 $4,090,000 $78,654
7-8% 50 $9,580,000 $191,600
5-6% 30 $6,160,000 $205,333
4-5% 1 $175,000 $175,000

During 2023, Gallup's most frequently originated rate bucket was 6-7%, with 69 originations.

Loan Sizing (Gallup, NM MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 84 $12,330,000 $146,786
$200k-400k 59 $16,165,000 $273,983
$100,000 or less 55 $2,835,000 $51,545
$400k-600k 4 $1,880,000 $470,000

Gallup's loan sizing saw the bucket of loans from $100k-200k with 84 originations, totaling $12,330,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 114 $23,110,000 $202,719
60-80% 32 $5,660,000 $176,875
Under 20% 20 $400,000 $20,000
20-40% 17 $1,325,000 $77,941
40-60% 12 $1,130,000 $94,167
Over 100% 7 $1,585,000 $226,429

Gallup's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 114 originations, totaling $23,110,000 in origination value.