Grants 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 Grants averaged 6.93% for the week of 2023-03-16, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2023-03-09) was 7.06% and one month ago for the week of 2023-02-09, the average rate was 6.25%.

    Grants's average rate one year ago was 3.93%.

    For refis of the same type during the week of 2023-03-16, the average rate was 7.22%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Grants 30 Year Fixed Rate 2023-03-16 6.93%
    Grants 30 Year Fixed Rate Refi 2023-03-16 7.22%
    Grants 15 Year Fixed Rate 2023-03-16 10.43%
    Grants 15 Year Fixed Rate Refi 2023-03-16 6.17%
    Grants 30 Year FHA 2023-03-16 6.13%
    Grants 30 Year FHA Refi 2023-03-16 6.43%
    Grants 30 Year USDA 2023-03-16 6.58%
    Grants 30 Year VA 2023-03-16 6.68%
    Grants 30 Year VA Refi 2023-03-16 6.1%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Grants, NM.

    Grants 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 Grants, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Wells Fargo Bank 6 4.73% $4,786
    CMG MORTGAGE, INC. 5 5.28% $4,322
    QUICKEN LOANS, LLC 5 4.30% $4,830
    FINANCE OF AMERICA MORTGAGE LLC 2 6.69% $4,625
    CALCON MUTUAL MORTGAGE LLC 2 5.75% $3,654
    DAS Acquisition Company, LLC 1 6.88% $5,944
    21ST MORTGAGE CORPORATION 1 6.80% $6,769
    LEGACY MORTGAGE LLC 1 7.13% $7,131
    LOANDEPOT.COM, LLC 1 4.38% $6,031
    MORIA DEVELOPMENT, INC. 1 4.38% $4,045
    MOUNTAIN AMERICA 1 3.25% $3,600
    NETWORK CAPITAL FUNDING CORPORATION 1 4.38% $4,286
    NFM, INC. 1 5.88% $4,520
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.75% $6,945
    LEADERONE FINANCIAL CORPORATION 1 3.25% $5,570
    ACADEMY MORTGAGE CORPORATION 1 4.25% $4,189
    Bank of America 1 3.75% $3,324
    BOKF 1 7.00% $5,057
    CHURCHILL MORTGAGE CORPORATION 1 5.99% $1,941

    Grants Average Closing Costs & Other Stats

    Grants, NM's 19 lenders originated 168 loans during 2022. The total origination value was $22,250,000, with an average loan value of $132,440.

    Grants's average closing costs are $4,947.

    The top Grants lender as defined by loan originations is Wells Fargo Bank, with 6 loans originated. Their average total fees are $4,786, which is $464 higher than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Grants lenders (with over 10 loans originated) are .

    The lowest rate Grants lenders (with over 10 loans originated) are .

    Grants, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    QUICKEN LOANS, LLC $3,225,000 $2,615,000 -18.9% 11.8%
    CMG MORTGAGE, INC. $4,625,000 $2,415,000 -47.8% 10.9%
    21ST MORTGAGE CORPORATION $3,390,000 $2,060,000 -39.2% 9.3%
    Citizens Bank of Las Cruces $1,705,000 n/a 7.7%
    Wells Fargo Bank $435,000 $1,040,000 139.1% 4.7%
    FINANCE OF AMERICA MORTGAGE LLC $1,000,000 $800,000 -20.0% 3.6%
    CALCON MUTUAL MORTGAGE LLC $2,425,000 $735,000 -69.7% 3.3%
    Waterstone Mortgage Corporation $505,000 $735,000 45.5% 3.3%
    Mortgage Research Center, LLC $720,000 $645,000 -10.4% 2.9%
    TRIAD FINANCIAL SERVICES, INC. $225,000 $605,000 168.9% 2.7%
    U.S. Bank $695,000 $600,000 -13.7% 2.7%
    VANDERBILT MORTGAGE AND FINANCE, INC. $365,000 $550,000 50.7% 2.5%
    USAA Federal Savings Bank $450,000 $530,000 17.8% 2.4%
    MUTUAL OF OMAHA MORTGAGE, INC. $420,000 n/a 1.9%
    Nations Lending Corporation $290,000 $375,000 29.3% 1.7%
    Barrington Bank & Trust Company, N.A. $340,000 n/a 1.5%
    MOUNTAIN AMERICA $45,000 $330,000 633.3% 1.5%
    Plains Commerce Bank $295,000 n/a 1.3%
    Equity Prime Mortgage LLC $285,000 n/a 1.3%
    ACADEMY MORTGAGE CORPORATION $795,000 $275,000 -65.4% 1.2%
    DAS Acquisition Company, LLC $275,000 n/a 1.2%
    Bank of America $370,000 $270,000 -27.0% 1.2%
    FREEDOM MORTGAGE CORPORATION $405,000 $265,000 -34.6% 1.2%
    LOANDEPOT.COM, LLC $565,000 $260,000 -54.0% 1.2%
    UNITED WHOLESALE MORTGAGE, LLC $105,000 $235,000 123.8% 1.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $215,000 n/a 1.0%
    UNION HOME MORTGAGE CORP. $195,000 n/a 0.9%
    DHI MORTGAGE COMPANY, LTD. $155,000 n/a 0.7%
    JPMorgan Chase Bank $290,000 $155,000 -46.6% 0.7%
    LEADERONE FINANCIAL CORPORATION $155,000 n/a 0.7%
    LEGACY MORTGAGE LLC $410,000 $145,000 -64.6% 0.7%
    SOUTHWEST STAGE FUNDING, LLC $135,000 n/a 0.6%
    COUNTRYPLACE MORTGAGE, LTD. $125,000 n/a 0.6%
    LAKEVIEW LOAN SERVICING, LLC $430,000 $125,000 -70.9% 0.6%
    MID AMERICA MORTGAGE, INC. $340,000 $125,000 -63.2% 0.6%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $125,000 n/a 0.6%
    NEWREZ LLC $315,000 $125,000 -60.3% 0.6%
    NOVA FINANCIAL & INVESTMENT CORPORATION $125,000 n/a 0.6%
    RIO GRANDE $125,000 n/a 0.6%
    ROYAL UNITED MORTGAGE LLC $125,000 n/a 0.6%
    Servion, Inc. $125,000 n/a 0.6%
    CREDIT HUMAN FEDERAL CREDIT UNION $115,000 n/a 0.5%
    FINANCE OF AMERICA REVERSE LLC $65,000 $115,000 76.9% 0.5%
    First Financial Credit Union $115,000 n/a 0.5%
    MORIA DEVELOPMENT, INC. $105,000 n/a 0.5%
    BOKF $275,000 $100,000 -63.6% 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $295,000 $95,000 -67.8% 0.4%
    NETWORK CAPITAL FUNDING CORPORATION $95,000 n/a 0.4%
    TBK BANK, SSB $65,000 $95,000 46.2% 0.4%
    Carrington Mortgage Services, LLC $250,000 $85,000 -66.0% 0.4%
    U.S. EAGLE $340,000 $85,000 -75.0% 0.4%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $650,000 $75,000 -88.5% 0.3%
    CHURCHILL MORTGAGE CORPORATION $65,000 n/a 0.3%
    NFM, INC. $65,000 n/a 0.3%
    NUSENDA $680,000 $55,000 -91.9% 0.2%
    Kirtland Federal Credit Union $225,000 $45,000 -80.0% 0.2%

    Grants's top lender by overall market share is QUICKEN LOANS, LLC, with 11.8% market share. In second place, with 10.9%, is CMG MORTGAGE, INC., having originated $2,415,000 in loans. In third place, with 9.3%, is 21ST MORTGAGE CORPORATION, having originated $2,060,000 in loans. In fourth place, with 7.7%, is Citizens Bank of Las Cruces, having originated $1,705,000 in loans. In fifth place, with 4.7%, is Wells Fargo Bank, having originated $1,040,000 in loans.

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

    Realtor.com - Grants (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 $114,900 (-8.0%) $145,285 (-1.7%) 0.00 70
    2018-02-01 $119,975 (0.9%) $152,122 (5.4%) 0.00 64
    2018-03-01 $119,950 (-4.0%) $149,811 (3.2%) 0.00 65
    2018-04-01 $114,900 (-6.2%) $144,031 (0.1%) 0.00 70
    2018-05-01 $120,000 (0.1%) $143,641 (2.0%) 0.00 65
    2018-06-01 $110,000 (-11.9%) $139,432 (-2.4%) 0.00 59
    2018-07-01 $99,500 (-18.7%) $128,606 (-11.8%) 0.00 62
    2018-08-01 $99,000 (-18.3%) $133,152 (-10.3%) 0.00 64
    2018-09-01 $103,000 (-14.2%) $142,586 (-5.4%) 0.00 61
    2018-10-01 $108,250 (-7.8%) $146,543 (-2.7%) 0.00 58
    2018-11-01 $102,225 (-6.0%) $157,381 (11.8%) 0.00 64
    2018-12-01 $99,900 (-13.1%) $159,345 (8.8%) 0.00 59
    2019-01-01 $98,750 (-14.1%) $159,650 (9.9%) 0.00 56
    2019-02-01 $106,000 (-11.7%) $164,111 (7.9%) 0.00 55
    2019-03-01 $108,143 (-9.8%) $162,725 (8.6%) 0.00 56
    2019-04-01 $101,390 (-11.8%) $161,912 (12.4%) 0.00 57
    2019-05-01 $131,625 (9.7%) $1,113,637 (675.3%) 0.00 56
    2019-06-01 $144,700 (31.6%) $196,895 (41.2%) 0.00 61
    2019-07-01 $149,975 (50.7%) $195,570 (52.1%) 0.00 63
    2019-08-01 $147,064 (48.6%) $191,188 (43.6%) 0.00 63
    2019-09-01 $142,809 (38.7%) $184,790 (29.6%) 0.00 61
    2019-10-01 $137,250 (26.8%) $182,793 (24.7%) 0.00 57
    2019-11-01 $139,500 (36.5%) $193,328 (22.8%) 0.00 52
    2019-12-01 $139,500 (39.6%) $194,410 (22.0%) 0.00 52
    2020-01-01 $141,475 (43.3%) $200,129 (25.4%) 0.00 54
    2020-02-01 $136,250 (28.5%) $199,986 (21.9%) 0.00 51
    2020-03-01 $139,750 (29.2%) $200,950 (23.5%) 0.00 52
    2020-04-01 $144,900 (42.9%) $202,514 (25.1%) 0.00 50
    2020-05-01 $154,500 (17.4%) $207,286 (-81.4%) 0.00 48
    2020-06-01 $153,975 (6.4%) $203,094 (3.2%) 0.00 34
    2020-07-01 $173,250 (15.5%) $227,833 (16.5%) 0.00 35
    2020-08-01 $159,900 (8.7%) $212,146 (11.0%) 0.00 35
    2020-09-01 $168,500 (18.0%) $201,328 (9.0%) 0.00 42
    2020-10-01 $162,450 (18.4%) $186,960 (2.3%) 0.00 43
    2020-11-01 $167,475 (20.1%) $208,907 (8.1%) 0.00 45
    2020-12-01 $146,750 (5.2%) $204,538 (5.2%) 0.00 42
    2021-01-01 $149,500 (5.7%) $209,962 (4.9%) 0.00 37
    2021-02-01 $135,800 (-0.3%) $204,986 (2.5%) 0.00 31
    2021-03-01 $146,250 (4.7%) $213,824 (6.4%) 0.00 28
    2021-04-01 $152,500 (5.2%) $231,522 (14.3%) 0.00 23
    2021-05-01 $140,000 (-9.4%) $224,617 (8.4%) 0.00 22
    2021-06-01 $131,175 (-14.8%) $210,636 (3.7%) 0.00 26
    2021-07-01 $118,000 (-31.9%) $201,359 (-11.6%) 0.00 21
    2021-08-01 $126,150 (-21.1%) $203,002 (-4.3%) 0.00 22
    2021-09-01 $139,000 (-17.5%) $210,566 (4.6%) 0.00 21
    2021-10-01 $144,000 (-11.4%) $216,618 (15.9%) 0.00 29
    2021-11-01 $138,750 (-17.2%) $200,767 (-3.9%) 0.00 30
    2021-12-01 $135,450 (-7.7%) $205,233 (0.3%) 0.00 25
    2022-01-01 $135,000 (-9.7%) $213,818 (1.8%) 0.00 29
    2022-02-01 $142,000 (4.6%) $219,692 (7.2%) 0.00 27
    2022-03-01 $133,500 (-8.7%) $207,016 (-3.2%) 0.00 26
    2022-04-01 $133,750 (-12.3%) $206,704 (-10.7%) 0.00 23
    2022-05-01 $137,175 (-2.0%) $237,707 (5.8%) 0.00 25
    2022-06-01 $155,500 (18.5%) $261,920 (24.4%) 0.00 26
    2022-07-01 $175,000 (48.3%) $266,064 (32.1%) 0.00 30
    2022-08-01 $173,750 (37.7%) $257,658 (26.9%) 0.00 36
    2022-09-01 $166,000 (19.4%) $249,215 (18.4%) 0.00 33
    2022-10-01 $165,000 (14.6%) $244,997 (13.1%) 0.00 37
    2022-11-01 $163,750 (18.0%) $248,259 (23.7%) 0.00 33
    2022-12-01 $185,000 (36.6%) $256,374 (24.9%) 0.00 28
    2023-01-01 $195,000 (44.4%) $257,677 (20.5%) 0.00 28
    2023-02-01 $195,000 (37.3%) $265,864 (21.0%) 0.00 24
    Grants's median listing price for 2023-02-01 was $195,000, a difference of $53,000 (37.3%) versus the prior year and $0 versus the prior month.

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

    Grants's average listing price for 2023-02-01 was $265,864, a difference of $46,172 (21.0%) versus the prior year and $8,187 versus the prior month.

    For the 2023-02-01 period, Grants had 24 MLS listings, a difference of -4 listings (-14%) versus the prior month and -3 listings (-11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Grants (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,684 sqft
    2018-02-01 0 days 1,748 sqft
    2018-03-01 0 days 1,688 sqft
    2018-04-01 0 days 1,612 sqft
    2018-05-01 0 days 1,515 sqft
    2018-06-01 0 days 1,594 sqft
    2018-07-01 0 days 1,433 sqft
    2018-08-01 0 days 1,446 sqft
    2018-09-01 0 days 1,484 sqft
    2018-10-01 0 days 1,490 sqft
    2018-11-01 0 days 1,494 sqft
    2018-12-01 0 days 1,492 sqft
    2019-01-01 0 days 1,500 sqft
    2019-02-01 0 days 1,640 sqft
    2019-03-01 0 days 1,580 sqft
    2019-04-01 0 days 1,510 sqft
    2019-05-01 0 days 1,639 sqft
    2019-06-01 0 days 1,640 sqft
    2019-07-01 0 days 1,653 sqft
    2019-08-01 0 days 1,650 sqft
    2019-09-01 0 days 1,621 sqft
    2019-10-01 0 days 1,600 sqft
    2019-11-01 0 days 1,680 sqft
    2019-12-01 0 days 1,726 sqft
    2020-01-01 0 days 1,803 sqft
    2020-02-01 0 days 1,718 sqft
    2020-03-01 0 days 1,815 sqft
    2020-04-01 0 days 1,826 sqft
    2020-05-01 0 days 1,876 sqft
    2020-06-01 0 days 1,894 sqft
    2020-07-01 0 days 1,928 sqft
    2020-08-01 0 days 1,850 sqft
    2020-09-01 0 days 1,812 sqft
    2020-10-01 0 days 1,850 sqft
    2020-11-01 0 days 1,794 sqft
    2020-12-01 0 days 1,769 sqft
    2021-01-01 0 days 1,766 sqft
    2021-02-01 0 days 1,683 sqft
    2021-03-01 0 days 1,785 sqft
    2021-04-01 0 days 2,019 sqft
    2021-05-01 0 days 1,830 sqft
    2021-06-01 0 days 1,835 sqft
    2021-07-01 0 days 1,835 sqft
    2021-08-01 0 days 1,755 sqft
    2021-09-01 0 days 1,600 sqft
    2021-10-01 0 days 1,546 sqft
    2021-11-01 0 days 1,506 sqft
    2021-12-01 0 days 1,568 sqft
    2022-01-01 0 days 1,433 sqft
    2022-02-01 0 days 1,575 sqft
    2022-03-01 0 days 1,334 sqft
    2022-04-01 0 days 1,359 sqft
    2022-05-01 0 days 1,363 sqft
    2022-06-01 0 days 1,499 sqft
    2022-07-01 0 days 1,612 sqft
    2022-08-01 0 days 1,693 sqft
    2022-09-01 0 days 1,628 sqft
    2022-10-01 0 days 1,700 sqft
    2022-11-01 0 days 1,754 sqft
    2022-12-01 0 days 1,747 sqft
    2023-01-01 0 days 1,754 sqft
    2023-02-01 0 days 1,726 sqft
    Grants's median listing age (time on market) for 2023-02-01 was 0 days.

    Grants's median square footage for active listings during the 2023-02-01 period was 1,726 sqft. One year prior, the average listing was 1,575 sqft.

    Grants, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 126 $15,500,000 $123,016
    Cash Out Refi 18 $2,450,000 $136,111
    Refi 13 $2,935,000 $225,769
    Home Improvement 6 $510,000 $85,000
    Other 5 $855,000 $171,000

    Grants's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    4-5% 35 $5,225,000 $149,286
    5-6% 31 $5,645,000 $182,097
    3-4% 26 $4,340,000 $166,923
    7-8% 24 $2,000,000 $83,333
    6-7% 22 $2,570,000 $116,818
    Over 8% 20 $1,460,000 $73,000
    2.5-3% 4 $420,000 $105,000
    <2.5% 2 $280,000 $140,000

    During 2022, Grants's most frequently originated rate bucket was 4-5%, with 35 originations.

    Loan Sizing (Grants, NM MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 74 $4,020,000 $54,324
    $100k-200k 66 $9,310,000 $141,061
    $200k-400k 26 $6,670,000 $256,538
    $400k-600k 1 $545,000 $545,000
    $Over $1MM 1 $1,705,000 $1,705,000

    Grants's loan sizing saw the bucket of loans from $100,000 or less with 74 originations, totaling $4,020,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 82 $12,380,000 $150,976
    60-80% 36 $6,420,000 $178,333
    Under 20% 10 $100,000 $10,000
    40-60% 8 $910,000 $113,750
    20-40% 7 $425,000 $60,714
    Over 100% 6 $1,150,000 $191,667

    Grants's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 82 originations, totaling $12,380,000 in origination value.