Grants Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Grants averaged
6.87%
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
6.75% and
one month ago for the week of 2024-05-16, the
average rate was 7.02%.
Grants's average rate one year ago was 6.49%.
For refis of the same type during the week of 2024-06-20, the average rate
was 7.47%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-06-20 | 6.87% |
Grants 30 Year Fixed Rate | 2024-06-20 | 6.87% |
Grants 30 Year Fixed Rate Refi | 2024-06-20 | 7.47% |
Grants 15 Year Fixed Rate | 2024-06-20 | 6.03% |
Grants 15 Year Fixed Rate Refi | 2024-06-20 | 6.83% |
Grants 30 Year FHA | 2024-06-20 | 0% |
Grants 30 Year FHA Refi | 2024-06-20 | -0.1% |
Grants 30 Year USDA | 2024-06-20 | -0.2% |
Grants 30 Year USDA Refi | 2024-06-20 | -0.1% |
Grants 30 Year VA | 2024-06-20 | -0.1% |
Grants 30 Year VA Refi | 2024-06-20 | 0.1% |
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
CALCON MUTUAL MORTGAGE LLC | 6 | 6.48% | $4,882 |
21ST MORTGAGE CORPORATION | 3 | 8.37% | $6,976 |
Wells Fargo Bank | 3 | 7.38% | $4,351 |
CMG MORTGAGE, INC. | 2 | 6.50% | $6,867 |
Colonial Savings, F.A. | 1 | 6.38% | $4,990 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 8.13% | $12,340 |
Flagstar Bank, FSB | 1 | 6.38% | $3,425 |
GUILD MORTGAGE COMPANY | 1 | 6.63% | $6,856 |
MOUNTAIN AMERICA | 1 | 7.25% | $6,586 |
Nations Lending Corporation | 1 | 4.99% | $9,018 |
NUSENDA | 1 | 6.38% | $5,132 |
PRIMARY RESIDENTIAL MORTGAGE, INC. | 1 | 6.50% | $5,549 |
PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.13% | $6,266 |
SUN AMERICAN MORTGAGE COMPANY | 1 | 5.99% | $17,335 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 7.00% | $6,015 |
U.S. Bank | 1 | 8.25% | $2,652 |
AMCAP MORTGAGE, LTD. | 1 | 6.88% | $4,340 |
Grants Average Closing Costs & Other Stats
Grants, NM's 17 lenders originated 114
loans during 2023. The total origination value was $15,200,000, with an average loan value of
$133,333.
Grants's average closing costs are $5,093.
The top Grants lender as defined by loan originations is CALCON MUTUAL MORTGAGE LLC, with
6 loans originated. Their average total fees are
$4,882, which is $2,094
lower than the next largest lender,
21ST MORTGAGE CORPORATION.
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
21ST MORTGAGE CORPORATION | $2,060,000 | $2,675,000 | 29.9% | 17.6% |
CMG MORTGAGE, INC. | $2,415,000 | $2,105,000 | -12.8% | 13.8% |
CALCON MUTUAL MORTGAGE LLC | $735,000 | $1,520,000 | 106.8% | 10.0% |
SUN AMERICAN MORTGAGE COMPANY | $725,000 | n/a | 4.8% | |
Mortgage Research Center, LLC | $645,000 | $615,000 | -4.7% | 4.0% |
STATE EMPLOYEES | $575,000 | n/a | 3.8% | |
QUICKEN LOANS, LLC | $2,615,000 | $555,000 | -78.8% | 3.7% |
MASON MCDUFFIE MORTGAGE CORPORATION | $470,000 | n/a | 3.1% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $550,000 | $405,000 | -26.4% | 2.7% |
Wells Fargo Bank | $1,040,000 | $400,000 | -61.5% | 2.6% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $365,000 | n/a | 2.4% | |
GUILD MORTGAGE COMPANY | $355,000 | n/a | 2.3% | |
VAN DYK MORTGAGE CORPORATION | $310,000 | n/a | 2.0% | |
UNITED WHOLESALE MORTGAGE, LLC | $235,000 | $305,000 | 29.8% | 2.0% |
NUSENDA | $55,000 | $295,000 | 436.4% | 1.9% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $75,000 | $280,000 | 273.3% | 1.8% |
MOUNTAIN AMERICA | $330,000 | $270,000 | -18.2% | 1.8% |
AMERISAVE MORTGAGE CORPORATION | $240,000 | n/a | 1.6% | |
Mr. Cooper ( Nationstar Mortgage ) | $95,000 | $210,000 | 121.1% | 1.4% |
Barrington Bank & Trust Company, N.A. | $340,000 | $205,000 | -39.7% | 1.3% |
Flagstar Bank, FSB | $185,000 | n/a | 1.2% | |
U.S. Bank | $600,000 | $185,000 | -69.2% | 1.2% |
PENTAGON FEDERAL CREDIT UNION | $175,000 | n/a | 1.2% | |
RELIANCE FIRST CAPITAL, LLC | $175,000 | n/a | 1.2% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $125,000 | $155,000 | 24.0% | 1.0% |
NAVY FEDERAL CREDIT UNION | $135,000 | n/a | 0.9% | |
Carrington Mortgage Services, LLC | $85,000 | $125,000 | 47.1% | 0.8% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $120,000 | n/a | 0.8% | |
Colonial Savings, F.A. | $115,000 | n/a | 0.8% | |
AMCAP MORTGAGE, LTD. | $110,000 | n/a | 0.7% | |
GUARANTEED RATE, INC. | $110,000 | n/a | 0.7% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $115,000 | $105,000 | -8.7% | 0.7% |
Nations Lending Corporation | $375,000 | $105,000 | -72.0% | 0.7% |
CORNERSTONE HOME LENDING, INC. | $85,000 | n/a | 0.6% | |
First Financial Credit Union | $115,000 | $75,000 | -34.8% | 0.5% |
Kirtland Federal Credit Union | $45,000 | $55,000 | 22.2% | 0.4% |
SANDIA AREA | $55,000 | n/a | 0.4% | |
TRIAD FINANCIAL SERVICES, INC. | $605,000 | $50,000 | -91.7% | 0.3% |
Bank of America | $270,000 | $45,000 | -83.3% | 0.3% |
DUPACO COMMUNITY | $45,000 | n/a | 0.3% | |
U.S. EAGLE | $85,000 | $25,000 | -70.6% | 0.2% |
Grants's top lender by overall market share is 21ST MORTGAGE CORPORATION, with 17.6% market share. In second place, with 13.8%, is CMG MORTGAGE, INC., having originated $2,105,000 in loans. In third place, with 10.0%, is CALCON MUTUAL MORTGAGE LLC, having originated $1,520,000 in loans. In fourth place, with 4.8%, is SUN AMERICAN MORTGAGE COMPANY, having originated $725,000 in loans. In fifth place, with 4.0%, is Mortgage Research Center, LLC, having originated $615,000 in loans.
Grants, NM Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 85 | $11,515,000 | $135,471 |
Cash Out Refi | 13 | $2,325,000 | $178,846 |
Home Improvement | 6 | $450,000 | $75,000 |
Other | 5 | $405,000 | $81,000 |
Refi | 5 | $505,000 | $101,000 |
Grants's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 37 | $4,645,000 | $125,541 |
Over 8% | 27 | $3,995,000 | $147,963 |
7-8% | 23 | $2,895,000 | $125,870 |
5-6% | 18 | $3,160,000 | $175,556 |
<2.5% | 3 | $15,000 | $5,000 |
3-4% | 2 | $300,000 | $150,000 |
4-5% | 1 | $105,000 | $105,000 |
During 2023, Grants's most frequently originated rate bucket was 6-7%, with 37 originations.
Loan Sizing (Grants, NM MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 60 | $8,630,000 | $143,833 |
$100,000 or less | 36 | $1,730,000 | $48,056 |
$200k-400k | 17 | $4,115,000 | $242,059 |
$600k-1000k | 1 | $725,000 | $725,000 |
Grants's loan sizing saw the bucket of loans from $100k-200k with 60 originations, totaling $8,630,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 57 | $9,455,000 | $165,877 |
60-80% | 24 | $3,040,000 | $126,667 |
Under 20% | 12 | $180,000 | $15,000 |
40-60% | 9 | $1,705,000 | $189,444 |
20-40% | 5 | $295,000 | $59,000 |
Over 100% | 1 | $185,000 | $185,000 |
Grants's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 57 originations, totaling $9,455,000 in origination value.