Hereford Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Hereford averaged 7.01% 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 7.34% and one month ago for the week of 2023-02-09, the average rate was 6.63%.

    Hereford's average rate one year ago was 4.06%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.69%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Hereford 30 Year Fixed Rate 2023-03-16 7.01%
    Hereford 30 Year Fixed Rate Refi 2023-03-16 6.69%
    Hereford 15 Year Fixed Rate 2023-03-16 7.13%
    Hereford 15 Year Fixed Rate Refi 2023-03-16 6.21%
    Hereford 30 Year FHA 2023-03-16 6.95%
    Hereford 30 Year FHA Refi 2023-03-16 6.45%
    Hereford 30 Year USDA 2023-03-16 6.88%
    Hereford 30 Year VA 2023-03-16 6.43%
    Hereford 30 Year VA Refi 2023-03-16 5.75%
    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    AMCAP MORTGAGE, LTD. 10 3.35% $6,828
    QUICKEN LOANS, LLC 7 3.31% $4,268
    TIB The Independent Bankersbank 7 2.91% $4,549
    Amarillo National Bank 6 3.35% $3,448
    First Financial Bank 4 4.06% $3,730
    Education Credit Union 2 4.00% $2,734
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.12% $6,083
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $6,698
    First National Bank Texas 1 3.00% $4,900
    Flagstar Bank, FSB 1 3.75% $4,754
    Gateway First Bank 1 3.25% $3,770
    Happy State Bank 1 3.13% $4,257
    HOMESIDE FINANCIAL, LLC 1 2.50% $4,582
    JMAC LENDING, INC. 1 3.25% $5,735
    JPMorgan Chase Bank 1 3.50% $1,196
    Mr. Cooper ( Nationstar Mortgage ) 1 3.00% $4,833
    NAVY FEDERAL CREDIT UNION 1 3.25% $4,205
    PENNYMAC LOAN SERVICES, LLC 1 3.49% $8,490
    Prosperity Bank 1 3.00% $3,955
    ROYAL UNITED MORTGAGE LLC 1 3.13% $9,735
    UNITED WHOLESALE MORTGAGE, LLC 1 2.88% $3,256
    U.S. Bank 1 2.99% $2,961
    Wells Fargo Bank 1 3.50% $3,381
    Access Community Credit Union 1 3.38% $3,262
    West Gate Bank 1 3.00% $2,307
    Alliance Credit Union 1 3.25% $3,435
    AMERISAVE MORTGAGE CORPORATION 1 2.63% $4,213
    ARC HOME LLC 1 6.83% $8,954
    ASSOCIATED MORTGAGE CORPORATION 1 3.25% $3,647
    City Bank 1 3.13% $4,175
    Discover Bank 1 3.99% $0

    Hereford Average Closing Costs & Other Stats

    Hereford, TX's 31 lenders originated 306 loans during 2021. The total origination value was $44,740,000, with an average loan value of $146,209.

    Hereford's average closing costs are $5,829.

    The top Hereford lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 10 loans originated. Their average total fees are $6,828, which is $2,560 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hereford lenders (with over 10 loans originated) are AMCAP MORTGAGE, LTD. ($6,828), .

    The lowest rate Hereford lenders (with over 10 loans originated) are AMCAP MORTGAGE, LTD. (3.35%), .

    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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    AMCAP MORTGAGE, LTD. $2,520,000 $11,675,000 363.3% 26.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $4,165,000 $4,300,000 3.2% 9.6%
    FirstBank Southwest $2,475,000 $3,165,000 27.9% 7.1%
    QUICKEN LOANS, LLC $1,295,000 $2,940,000 127.0% 6.6%
    Amarillo National Bank $2,270,000 $2,285,000 0.7% 5.1%
    First Financial Bank $4,590,000 $2,245,000 -51.1% 5.0%
    TIB The Independent Bankersbank $1,415,000 $2,240,000 58.3% 5.0%
    Equity Bank $1,365,000 n/a 3.1%
    21ST MORTGAGE CORPORATION $550,000 $1,210,000 120.0% 2.7%
    Happy State Bank $1,210,000 $885,000 -26.9% 2.0%
    EUSTIS AND AMERICAN MORTGAGE COMPANY $505,000 $730,000 44.6% 1.6%
    First United Bank $115,000 $675,000 487.0% 1.5%
    EVERETT FINANCIAL, INC. $1,525,000 $655,000 -57.0% 1.5%
    NAVY FEDERAL CREDIT UNION $605,000 n/a 1.4%
    Network Funding, L.P. $225,000 $485,000 115.6% 1.1%
    Wells Fargo Bank $65,000 $475,000 630.8% 1.1%
    ARC HOME LLC $445,000 n/a 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $365,000 $400,000 9.6% 0.9%
    Herring Bank $1,055,000 $390,000 -63.0% 0.9%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $375,000 n/a 0.8%
    First National Bank Texas $115,000 $365,000 217.4% 0.8%
    INFINITY MORTGAGE HOLDINGS, LLC $390,000 $350,000 -10.3% 0.8%
    FREEDOM MORTGAGE CORPORATION $135,000 $335,000 148.1% 0.7%
    JPMorgan Chase Bank $95,000 $300,000 215.8% 0.7%
    UNITED WHOLESALE MORTGAGE, LLC $265,000 $300,000 13.2% 0.7%
    Education Credit Union $120,000 $295,000 145.8% 0.7%
    ASSOCIATED MORTGAGE CORPORATION $290,000 n/a 0.6%
    City Bank $290,000 n/a 0.6%
    BETTER MORTGAGE CORPORATION $275,000 n/a 0.6%
    HOMESIDE FINANCIAL, LLC $245,000 n/a 0.5%
    Gateway First Bank $230,000 n/a 0.5%
    U.S. Bank $115,000 $225,000 95.7% 0.5%
    CMG MORTGAGE, INC. $215,000 n/a 0.5%
    LOANDEPOT.COM, LLC $195,000 $215,000 10.3% 0.5%
    CALIBER HOME LOANS, INC. $185,000 n/a 0.4%
    Prosperity Bank $185,000 n/a 0.4%
    SOUTHWEST STAGE FUNDING, LLC $55,000 $180,000 227.3% 0.4%
    THRIVE MORTGAGE, LLC $175,000 n/a 0.4%
    NATIONS RELIABLE LENDING, LLC $275,000 $165,000 -40.0% 0.4%
    Access Community Credit Union $155,000 n/a 0.3%
    AMERICAN FINANCIAL NETWORK, INC. $155,000 n/a 0.3%
    AMERISAVE MORTGAGE CORPORATION $145,000 n/a 0.3%
    First Guaranty Mortgage Corporation $145,000 n/a 0.3%
    PENNYMAC LOAN SERVICES, LLC $145,000 $145,000 0.0% 0.3%
    ROYAL UNITED MORTGAGE LLC $145,000 $145,000 0.0% 0.3%
    Discover Bank $135,000 n/a 0.3%
    JMAC LENDING, INC. $125,000 n/a 0.3%
    LAKEVIEW LOAN SERVICING, LLC $125,000 n/a 0.3%
    VILLAGE CAPITAL & INVESTMENT LLC $105,000 $125,000 19.0% 0.3%
    Alliance Credit Union $115,000 n/a 0.3%
    CHURCHILL MORTGAGE CORPORATION $105,000 n/a 0.2%
    BROKER SOLUTIONS, INC. $95,000 n/a 0.2%
    COUNTRYPLACE MORTGAGE, LTD. $75,000 $95,000 26.7% 0.2%
    West Gate Bank $95,000 n/a 0.2%
    Flagstar Bank, FSB $85,000 n/a 0.2%
    J. VIRGIL, INC. $85,000 n/a 0.2%
    NEWREZ LLC $95,000 $85,000 -10.5% 0.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $105,000 $85,000 -19.0% 0.2%
    AmeriHome Mortgage Company, LLC $75,000 n/a 0.2%
    AMERICAN ADVISORS GROUP $55,000 n/a 0.1%

    Hereford's top lender by overall market share is AMCAP MORTGAGE, LTD., with 26.1% market share. In second place, with 9.6%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $4,300,000 in loans. In third place, with 7.1%, is FirstBank Southwest, having originated $3,165,000 in loans. In fourth place, with 6.6%, is QUICKEN LOANS, LLC, having originated $2,940,000 in loans. In fifth place, with 5.1%, is Amarillo National Bank, having originated $2,285,000 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 (4.1%) $198,956 (-0.7%) 0.00 28
    2018-05-01 $163,000 (11.5%) $192,755 (-7.9%) 0.00 29
    2018-06-01 $176,000 (19.9%) $194,838 (-9.6%) 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 $182,100 (11.7%) $216,139 (12.1%) 0.00 24
    2019-06-01 $165,500 (-6.0%) $211,842 (8.7%) 0.00 24
    2019-07-01 $165,875 (11.9%) $201,202 (5.5%) 0.00 26
    2019-08-01 $164,182 (-8.7%) $195,641 (-8.2%) 0.00 28
    2019-09-01 $165,205 (-8.2%) $190,153 (-11.8%) 0.00 33
    2019-10-01 $164,761 (-4.7%) $186,495 (-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 (11.5%) $220,441 (2.0%) 0.00 24
    2020-06-01 $203,000 (22.7%) $214,566 (1.3%) 0.00 28
    2020-07-01 $189,225 (14.1%) $203,521 (1.2%) 0.00 31
    2020-08-01 $180,000 (9.6%) $185,367 (-5.3%) 0.00 28
    2020-09-01 $186,600 (13.0%) $183,928 (-3.3%) 0.00 27
    2020-10-01 $183,500 (11.4%) $180,068 (-3.5%) 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%) $218,386 (1.8%) 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 (6.5%) 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
    Hereford's median listing price for 2023-02-01 was $263,188, a difference of $47,975 (22.3%) versus the prior year and $8,938 versus the prior month.

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

    Hereford's average listing price for 2023-02-01 was $337,363, a difference of $53,397 (18.8%) versus the prior year and $5,271 versus the prior month.

    For the 2023-02-01 period, Hereford had 45 MLS listings, a difference of 2 listings (5%) versus the prior month and 18 listings (67%) 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 2,076 sqft
    2019-06-01 0 days 2,045 sqft
    2019-07-01 0 days 2,141 sqft
    2019-08-01 0 days 2,138 sqft
    2019-09-01 0 days 2,108 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 1,828 sqft
    Hereford's median listing age (time on market) for 2023-02-01 was 0 days.

    Hereford's median square footage for active listings during the 2023-02-01 period was 1,828 sqft. One year prior, the average listing was 1,718 sqft.

    Hereford, TX Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 221 $35,085,000 $158,756
    Refi 54 $6,560,000 $121,481
    Cash Out Refi 19 $2,175,000 $114,474
    Home Improvement 11 $725,000 $65,909
    Other 1 $195,000 $195,000

    Hereford's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 54 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 119 $19,865,000 $166,933
    2.5-3% 61 $9,355,000 $153,361
    <2.5% 41 $4,535,000 $110,610
    4-5% 23 $4,375,000 $190,217
    Over 8% 8 $650,000 $81,250
    6-7% 8 $1,340,000 $167,500
    5-6% 6 $890,000 $148,333
    7-8% 3 $175,000 $58,333

    During 2021, Hereford's most frequently originated rate bucket was 3-4%, with 119 originations.

    Loan Sizing (Hereford, TX MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 165 $25,235,000 $152,939
    $100,000 or less 88 $5,110,000 $58,068
    $200k-400k 51 $12,585,000 $246,765
    $400k-600k 1 $445,000 $445,000
    $Over $1MM 1 $1,365,000 $1,365,000

    Hereford's loan sizing saw the bucket of loans from $100k-200k with 165 originations, totaling $25,235,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 175 $31,115,000 $177,800
    60-80% 39 $5,275,000 $135,256
    40-60% 22 $2,580,000 $117,273
    Under 20% 16 $230,000 $14,375
    20-40% 6 $420,000 $70,000
    Over 100% 3 $425,000 $141,667

    Hereford's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 175 originations, totaling $31,115,000 in origination value.