Hereford Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Hereford averaged 6.79% for the week of 2024-06-06, compared to the national average of 6.99% for the same period.

The average rate for the prior week (2024-05-30) was 6.93% and one month ago for the week of 2024-05-02, the average rate was 7.12%.

Hereford's average rate one year ago was 6.59%.

For refis of the same type during the week of 2024-06-06, the average rate was 6.89%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-06 6.99%
Hereford 30 Year Fixed Rate 2024-06-06 6.79%
Hereford 30 Year Fixed Rate Refi 2024-06-06 6.89%
Hereford 15 Year Fixed Rate 2024-06-06 6.49%
Hereford 15 Year Fixed Rate Refi 2024-06-06 6.79%
Hereford 30 Year FHA 2024-06-06 6.79%
Hereford 30 Year FHA Refi 2024-06-06 6.89%
Hereford 30 Year USDA 2024-06-06 6.9%
Hereford 30 Year USDA Refi 2024-06-06 6.5%
Hereford 30 Year VA 2024-06-06 6.39%
Hereford 30 Year VA Refi 2024-06-06 6.39%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Hereford, TX.

Hereford 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 Hereford, TX 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
First Financial Bank 9 7.11% $3,144
Amarillo National Bank 4 7.38% $4,039
Centennial Bank 4 7.09% $4,237
QUICKEN LOANS, LLC 3 7.12% $4,624
UNION HOME MORTGAGE CORP. 2 6.75% $7,269
First United Bank 1 7.00% $8,483
Access Community Credit Union 1 6.88% $6,089
Lakeview Community Capital, LLC 1 7.13% $7,064
MICHIGAN MUTUAL, INC. 1 7.50% $4,918
Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $6,891
NATIONS RELIABLE LENDING, LLC 1 7.49% $8,737
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.99% $8,698
S1L, Inc. 1 5.75% $7,271
TIB The Independent Bankersbank 1 6.38% $5,480
JPMorgan Chase Bank 1 7.13% $0
AMERICAN PACIFIC MORTGAGE CORPORATION 1 8.00% $3,465
ASSOCIATED MORTGAGE CORPORATION 1 6.63% $3,689
Education Credit Union 1 7.38% $3,058
First National Bank Texas 1 6.88% $8,860

Hereford Average Closing Costs & Other Stats

Hereford, TX's 19 lenders originated 171 loans during 2023. The total origination value was $28,155,000, with an average loan value of $164,649.

Hereford's average closing costs are $6,981.

The top Hereford lender as defined by loan originations is First Financial Bank, with 9 loans originated. Their average total fees are $3,144, which is $895 lower than the next largest lender, Amarillo National Bank.

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

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

Hereford, TX 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
S1L, Inc. $1,725,000 $4,700,000 172.5% 16.7%
FirstBank Southwest $4,110,000 $3,515,000 -14.5% 12.5%
PRIMELENDING, A PLAINSCAPITAL COMPANY $3,005,000 $2,480,000 -17.5% 8.8%
EVERETT FINANCIAL, INC. $2,530,000 $2,305,000 -8.9% 8.2%
First Financial Bank $2,860,000 $2,275,000 -20.5% 8.1%
UNION HOME MORTGAGE CORP. $1,545,000 n/a 5.5%
Amarillo National Bank $1,580,000 $1,055,000 -33.2% 3.7%
First United Bank $585,000 $880,000 50.4% 3.1%
UNITED WHOLESALE MORTGAGE, LLC $690,000 n/a 2.5%
Centennial Bank $715,000 $680,000 -4.9% 2.4%
CARDINAL FINANCIAL $135,000 $495,000 266.7% 1.8%
Mortgage Research Center, LLC $785,000 $480,000 -38.9% 1.7%
ACADEMY MORTGAGE CORPORATION $825,000 $440,000 -46.7% 1.6%
NATIONS RELIABLE LENDING, LLC $275,000 $380,000 38.2% 1.3%
QUICKEN LOANS, LLC $1,780,000 $375,000 -78.9% 1.3%
AMARILLO COMMUNITY $175,000 $365,000 108.6% 1.3%
Education Credit Union $355,000 $350,000 -1.4% 1.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $340,000 n/a 1.2%
21ST MORTGAGE CORPORATION $925,000 $315,000 -65.9% 1.1%
AMCAP MORTGAGE, LTD. $10,520,000 $300,000 -97.1% 1.1%
Mr. Cooper ( Nationstar Mortgage ) $320,000 $300,000 -6.3% 1.1%
CMG MORTGAGE, INC. $285,000 n/a 1.0%
JPMorgan Chase Bank $95,000 $285,000 200.0% 1.0%
Barrington Bank & Trust Company, N.A. $255,000 n/a 0.9%
TIB The Independent Bankersbank $245,000 n/a 0.9%
Prosperity Bank $235,000 n/a 0.8%
BROKER SOLUTIONS, INC. $280,000 $225,000 -19.6% 0.8%
First National Bank Texas $105,000 $215,000 104.8% 0.8%
GUILD MORTGAGE COMPANY $185,000 n/a 0.7%
Lakeview Community Capital, LLC $185,000 $185,000 0.0% 0.7%
MORTGAGEONE, INC. $185,000 n/a 0.7%
ZILLOW HOME LOANS, LLC $195,000 $175,000 -10.3% 0.6%
Access Community Credit Union $270,000 $165,000 -38.9% 0.6%
Wells Fargo Bank $85,000 $155,000 82.4% 0.6%
CHURCHILL MORTGAGE CORPORATION $145,000 n/a 0.5%
TRIAD FINANCIAL SERVICES, INC. $135,000 n/a 0.5%
VANDERBILT MORTGAGE AND FINANCE, INC. $185,000 $115,000 -37.8% 0.4%
ASSOCIATED MORTGAGE CORPORATION $425,000 $105,000 -75.3% 0.4%
LAKEVIEW LOAN SERVICING, LLC $105,000 n/a 0.4%
MICHIGAN MUTUAL, INC. $95,000 n/a 0.3%
SOUTHWEST STAGE FUNDING, LLC $95,000 n/a 0.3%
PENNYMAC LOAN SERVICES, LLC $490,000 $65,000 -86.7% 0.2%

Hereford's top lender by overall market share is S1L, Inc., with 16.7% market share. In second place, with 12.5%, is FirstBank Southwest, having originated $3,515,000 in loans. In third place, with 8.8%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $2,480,000 in loans. In fourth place, with 8.2%, is EVERETT FINANCIAL, INC., having originated $2,305,000 in loans. In fifth place, with 8.1%, is First Financial Bank, having originated $2,275,000 in loans.


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

Realtor.com - Hereford (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 $138,700 (26.1%) $206,651 (26.3%) 0.00 34
2018-02-01 $139,500 (27.5%) $196,519 (20.1%) 0.00 35
2018-03-01 $143,500 (10.4%) $199,840 (5.0%) 0.00 33
2018-04-01 $146,975 (1.4%) $198,956 (-1.2%) 0.00 28
2018-05-01 $163,000 (10.5%) $192,755 (-8.2%) 0.00 29
2018-06-01 $176,000 (19.4%) $194,838 (-9.9%) 0.00 29
2018-07-01 $148,200 (5.9%) $190,692 (-8.5%) 0.00 30
2018-08-01 $179,900 (29.1%) $213,160 (3.1%) 0.00 29
2018-09-01 $180,000 (25.1%) $215,515 (3.8%) 0.00 24
2018-10-01 $172,900 (21.2%) $204,381 (-0.1%) 0.00 26
2018-11-01 $154,900 (4.5%) $204,841 (-6.6%) 0.00 27
2018-12-01 $189,950 (37.7%) $206,415 (0.2%) 0.00 25
2019-01-01 $195,000 (40.6%) $203,056 (-1.7%) 0.00 24
2019-02-01 $197,000 (41.2%) $195,939 (-0.3%) 0.00 25
2019-03-01 $209,286 (45.8%) $221,832 (11.0%) 0.00 23
2019-04-01 $196,786 (33.9%) $221,921 (11.5%) 0.00 21
2019-05-01 $170,700 (4.7%) $211,742 (9.9%) 0.00 23
2019-06-01 $163,750 (-7.0%) $211,842 (8.7%) 0.00 24
2019-07-01 $165,625 (11.8%) $198,403 (4.0%) 0.00 27
2019-08-01 $164,000 (-8.8%) $193,700 (-9.1%) 0.00 29
2019-09-01 $165,125 (-8.3%) $189,304 (-12.2%) 0.00 33
2019-10-01 $164,750 (-4.7%) $186,373 (-8.8%) 0.00 35
2019-11-01 $168,500 (8.8%) $192,826 (-5.9%) 0.00 30
2019-12-01 $179,750 (-5.4%) $207,128 (0.4%) 0.00 29
2020-01-01 $181,125 (-7.1%) $211,487 (4.2%) 0.00 30
2020-02-01 $189,750 (-3.7%) $217,755 (11.1%) 0.00 29
2020-03-01 $209,000 (-0.1%) $226,590 (2.1%) 0.00 25
2020-04-01 $209,000 (6.2%) $227,872 (2.7%) 0.00 24
2020-05-01 $203,000 (18.9%) $220,441 (4.1%) 0.00 24
2020-06-01 $203,000 (24.0%) $214,566 (1.3%) 0.00 28
2020-07-01 $189,225 (14.3%) $203,521 (2.6%) 0.00 31
2020-08-01 $180,000 (9.8%) $185,367 (-4.3%) 0.00 28
2020-09-01 $186,600 (13.0%) $183,928 (-2.8%) 0.00 27
2020-10-01 $183,500 (11.4%) $180,068 (-3.4%) 0.00 28
2020-11-01 $174,225 (3.4%) $179,077 (-7.1%) 0.00 30
2020-12-01 $162,438 (-9.6%) $172,955 (-16.5%) 0.00 32
2021-01-01 $177,475 (-2.0%) $178,096 (-15.8%) 0.00 29
2021-02-01 $197,000 (3.8%) $193,318 (-11.2%) 0.00 30
2021-03-01 $188,213 (-10.0%) $198,163 (-12.6%) 0.00 32
2021-04-01 $170,000 (-18.7%) $183,813 (-19.3%) 0.00 26
2021-05-01 $172,000 (-15.3%) $211,405 (-4.1%) 0.00 19
2021-06-01 $175,000 (-13.8%) $218,212 (1.7%) 0.00 24
2021-07-01 $180,975 (-4.4%) $268,311 (31.8%) 0.00 21
2021-08-01 $204,200 (13.4%) $253,909 (37.0%) 0.00 23
2021-09-01 $193,225 (3.6%) $267,412 (45.4%) 0.00 24
2021-10-01 $209,950 (14.4%) $297,491 (65.2%) 0.00 26
2021-11-01 $217,450 (24.8%) $316,497 (76.7%) 0.00 24
2021-12-01 $224,725 (38.4%) $302,623 (75.0%) 0.00 28
2022-01-01 $209,950 (18.3%) $283,812 (59.4%) 0.00 26
2022-02-01 $215,213 (9.2%) $283,966 (46.9%) 0.00 27
2022-03-01 $222,000 (18.0%) $263,432 (32.9%) 0.00 32
2022-04-01 $219,950 (29.4%) $236,058 (28.4%) 0.00 36
2022-05-01 $197,475 (14.8%) $225,838 (6.8%) 0.00 41
2022-06-01 $210,738 (20.4%) $232,525 (6.6%) 0.00 37
2022-07-01 $220,000 (21.6%) $250,671 (-6.6%) 0.00 44
2022-08-01 $235,000 (15.1%) $266,702 (5.0%) 0.00 44
2022-09-01 $238,713 (23.5%) $294,183 (10.0%) 0.00 46
2022-10-01 $237,500 (13.1%) $306,001 (2.9%) 0.00 46
2022-11-01 $241,250 (11.0%) $308,360 (-2.6%) 0.00 46
2022-12-01 $257,000 (14.4%) $322,299 (6.5%) 0.00 45
2023-01-01 $254,250 (21.1%) $332,092 (17.0%) 0.00 43
2023-02-01 $263,188 (22.3%) $337,363 (18.8%) 0.00 45
2023-03-01 $259,950 (17.1%) $326,850 (24.1%) 0.00 53
2023-04-01 $259,950 (18.2%) $314,130 (33.1%) 0.00 58
2023-05-01 $259,950 (31.6%) $315,223 (39.6%) 0.00 52
2023-06-01 $259,950 (23.4%) $317,172 (36.4%) 0.00 49
2023-07-01 $254,000 (15.5%) $297,066 (18.5%) 0.00 56
2023-08-01 $239,988 (2.1%) $292,773 (9.8%) 0.00 56
2023-09-01 $239,950 (0.5%) $293,260 (-0.3%) 0.00 56
2023-10-01 $248,750 (4.7%) $303,736 (-0.7%) 0.00 55
2023-11-01 $245,000 (1.6%) $300,816 (-2.5%) 0.00 57
2023-12-01 $239,975 (-6.6%) $302,041 (-6.3%) 0.00 52
2024-01-01 $229,963 (-9.6%) $269,306 (-18.9%) 0.00 54
2024-02-01 $223,738 (-15.0%) $262,105 (-22.3%) 0.00 51
2024-03-01 $217,475 (-16.3%) $266,958 (-18.3%) 0.00 44
2024-04-01 $219,975 (-15.4%) $270,220 (-14.0%) 0.00 53
2024-05-01 $213,750 (-17.8%) $260,918 (-17.2%) 0.00 60
Hereford's median listing price for 2024-05-01 was $213,750, a difference of $-46,200 (-17.8%) versus the prior year and $-6,225 versus the prior month.

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

Hereford's average listing price for 2024-05-01 was $260,918, a difference of $-54,305 (-17.2%) versus the prior year and $-9,302 versus the prior month.

For the 2024-05-01 period, Hereford had 60 MLS listings, a difference of 7 listings (13%) versus the prior month and 8 listings (15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hereford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,189 sqft
2018-02-01 0 days 2,076 sqft
2018-03-01 0 days 2,163 sqft
2018-04-01 0 days 2,295 sqft
2018-05-01 0 days 2,379 sqft
2018-06-01 0 days 2,386 sqft
2018-07-01 0 days 2,315 sqft
2018-08-01 0 days 2,543 sqft
2018-09-01 0 days 2,564 sqft
2018-10-01 0 days 2,468 sqft
2018-11-01 0 days 2,321 sqft
2018-12-01 0 days 2,304 sqft
2019-01-01 0 days 2,261 sqft
2019-02-01 0 days 2,213 sqft
2019-03-01 0 days 2,251 sqft
2019-04-01 0 days 2,150 sqft
2019-05-01 0 days 2,051 sqft
2019-06-01 0 days 2,008 sqft
2019-07-01 0 days 2,123 sqft
2019-08-01 0 days 2,130 sqft
2019-09-01 0 days 2,105 sqft
2019-10-01 0 days 2,075 sqft
2019-11-01 0 days 2,182 sqft
2019-12-01 0 days 2,281 sqft
2020-01-01 0 days 2,340 sqft
2020-02-01 0 days 2,431 sqft
2020-03-01 0 days 2,302 sqft
2020-04-01 0 days 2,380 sqft
2020-05-01 0 days 2,193 sqft
2020-06-01 0 days 2,193 sqft
2020-07-01 0 days 2,041 sqft
2020-08-01 0 days 1,846 sqft
2020-09-01 0 days 1,892 sqft
2020-10-01 0 days 2,031 sqft
2020-11-01 0 days 1,797 sqft
2020-12-01 0 days 1,758 sqft
2021-01-01 0 days 1,754 sqft
2021-02-01 0 days 1,826 sqft
2021-03-01 0 days 1,787 sqft
2021-04-01 0 days 1,566 sqft
2021-05-01 0 days 1,488 sqft
2021-06-01 0 days 1,646 sqft
2021-07-01 0 days 1,831 sqft
2021-08-01 0 days 1,819 sqft
2021-09-01 0 days 1,900 sqft
2021-10-01 0 days 1,766 sqft
2021-11-01 0 days 1,920 sqft
2021-12-01 0 days 1,798 sqft
2022-01-01 0 days 1,656 sqft
2022-02-01 0 days 1,718 sqft
2022-03-01 0 days 1,789 sqft
2022-04-01 0 days 1,634 sqft
2022-05-01 0 days 1,600 sqft
2022-06-01 0 days 1,642 sqft
2022-07-01 0 days 1,657 sqft
2022-08-01 0 days 1,736 sqft
2022-09-01 0 days 1,780 sqft
2022-10-01 0 days 1,800 sqft
2022-11-01 0 days 1,912 sqft
2022-12-01 0 days 1,930 sqft
2023-01-01 0 days 1,919 sqft
2023-02-01 0 days 1,844 sqft
2023-03-01 0 days 1,824 sqft
2023-04-01 0 days 1,812 sqft
2023-05-01 0 days 1,806 sqft
2023-06-01 0 days 1,828 sqft
2023-07-01 0 days 1,795 sqft
2023-08-01 0 days 1,786 sqft
2023-09-01 0 days 1,770 sqft
2023-10-01 0 days 1,768 sqft
2023-11-01 0 days 1,797 sqft
2023-12-01 0 days 1,787 sqft
2024-01-01 0 days 1,759 sqft
2024-02-01 0 days 1,740 sqft
2024-03-01 0 days 1,752 sqft
2024-04-01 0 days 1,788 sqft
2024-05-01 0 days 1,768 sqft
Hereford's median listing age (time on market) for 2024-05-01 was 0 days.

Hereford's median square footage for active listings during the 2024-05-01 period was 1,768 sqft. One year prior, the average listing was 1,806 sqft.

Hereford, TX Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 134 $24,100,000 $179,851
Cash Out Refi 18 $2,030,000 $112,778
Refi 9 $1,465,000 $162,778
Home Improvement 5 $315,000 $63,000
Other 5 $245,000 $49,000

Hereford's most frequently cited loan purpose was Home Purchase, with 134 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 49 $10,235,000 $208,878
7-8% 41 $6,945,000 $169,390
5-6% 24 $4,730,000 $197,083
Over 8% 18 $1,940,000 $107,778
<2.5% 10 $60,000 $6,000
4-5% 2 $490,000 $245,000
3-4% 2 $240,000 $120,000

During 2023, Hereford's most frequently originated rate bucket was 6-7%, with 49 originations.

Loan Sizing (Hereford, TX MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 74 $11,440,000 $154,595
$200k-400k 56 $13,950,000 $249,107
$100,000 or less 40 $1,990,000 $49,750
$600k-1000k 1 $775,000 $775,000

Hereford's loan sizing saw the bucket of loans from $100k-200k with 74 originations, totaling $11,440,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 100 $19,920,000 $199,200
60-80% 16 $2,760,000 $172,500
Under 20% 15 $215,000 $14,333
40-60% 8 $960,000 $120,000
20-40% 5 $275,000 $55,000
Over 100% 2 $510,000 $255,000

Hereford's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 100 originations, totaling $19,920,000 in origination value.