Hereford 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 Hereford averaged 7.49% for the week of 2023-11-22, compared to the national average of 7.29% for the same period.

    The average rate for the prior week (2023-11-16) was 7.54% and one month ago for the week of 2023-10-19, the average rate was 7.63%.

    Hereford's average rate one year ago was 6.61%.

    For refis of the same type during the week of 2023-11-22, the average rate was 7.79%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-11-22 7.29%
    Hereford 30 Year Fixed Rate 2023-11-22 7.49%
    Hereford 30 Year Fixed Rate Refi 2023-11-22 7.79%
    Hereford 15 Year Fixed Rate 2023-11-22 6.87%
    Hereford 15 Year Fixed Rate Refi 2023-11-22 6.97%
    Hereford 30 Year FHA 2023-11-22 -0.33%
    Hereford 30 Year FHA Refi 2023-11-22 0.1%
    Hereford 30 Year USDA 2023-11-22 0%
    Hereford 30 Year USDA Refi 2023-11-22 -0.2%
    Hereford 30 Year VA 2023-11-22 0.1%
    Hereford 30 Year VA Refi 2023-11-22 -0.2%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 7 5.91% $4,121
    First Financial Bank 5 6.44% $3,759
    Amarillo National Bank 4 5.81% $4,748
    Access Community Credit Union 2 5.44% $3,991
    AMCAP MORTGAGE, LTD. 2 5.25% $8,441
    MID AMERICA MORTGAGE, INC. 2 4.81% $2,076
    LOANPAL, LLC 1 6.38% $5,827
    NETWORK CAPITAL FUNDING CORPORATION 1 6.63% $6,190
    Network Funding, L.P. 1 6.63% $8,034
    PENNYMAC LOAN SERVICES, LLC 1 4.25% $9,181
    S1L, Inc. 1 7.50% $6,608
    ACADEMY MORTGAGE CORPORATION 1 5.75% $6,381
    Wells Fargo Bank 1 4.88% $1,858
    Bank of America 1 7.13% $4,077
    BROKER SOLUTIONS, INC. 1 6.13% $8,660
    CARDINAL FINANCIAL 1 6.38% $7,337
    FREEDOM MORTGAGE CORPORATION 1 6.13% $3,607
    HOME POINT FINANCIAL CORPORATION 1 4.13% $5,510

    Hereford Average Closing Costs & Other Stats

    Hereford, TX's 18 lenders originated 268 loans during 2022. The total origination value was $40,030,000, with an average loan value of $149,366.

    Hereford's average closing costs are $6,631.

    The top Hereford lender as defined by loan originations is QUICKEN LOANS, LLC, with 7 loans originated. Their average total fees are $4,121, which is $362 higher than the next largest lender, First Financial 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    AMCAP MORTGAGE, LTD. $11,675,000 $10,520,000 -9.9% 26.3%
    FirstBank Southwest $3,165,000 $4,110,000 29.9% 10.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $4,300,000 $3,005,000 -30.1% 7.5%
    First Financial Bank $2,245,000 $2,860,000 27.4% 7.1%
    EVERETT FINANCIAL, INC. $655,000 $2,530,000 286.3% 6.3%
    QUICKEN LOANS, LLC $2,940,000 $1,780,000 -39.5% 4.4%
    S1L, Inc. $1,725,000 n/a 4.3%
    Amarillo National Bank $2,285,000 $1,580,000 -30.9% 3.9%
    21ST MORTGAGE CORPORATION $1,210,000 $925,000 -23.6% 2.3%
    ACADEMY MORTGAGE CORPORATION $825,000 n/a 2.1%
    Mortgage Research Center, LLC $785,000 n/a 2.0%
    Centennial Bank $715,000 n/a 1.8%
    Network Funding, L.P. $485,000 $685,000 41.2% 1.7%
    Bank of America $680,000 n/a 1.7%
    HOMETRUST MORTGAGE COMPANY $615,000 n/a 1.5%
    First United Bank $675,000 $585,000 -13.3% 1.5%
    PENNYMAC LOAN SERVICES, LLC $145,000 $490,000 237.9% 1.2%
    ASSOCIATED MORTGAGE CORPORATION $290,000 $425,000 46.6% 1.1%
    J. VIRGIL, INC. $85,000 $370,000 335.3% 0.9%
    Education Credit Union $295,000 $355,000 20.3% 0.9%
    Mr. Cooper ( Nationstar Mortgage ) $400,000 $320,000 -20.0% 0.8%
    BROKER SOLUTIONS, INC. $95,000 $280,000 194.7% 0.7%
    NATIONS RELIABLE LENDING, LLC $165,000 $275,000 66.7% 0.7%
    Access Community Credit Union $155,000 $270,000 74.2% 0.7%
    MID AMERICA MORTGAGE, INC. $270,000 n/a 0.7%
    LEADERONE FINANCIAL CORPORATION $205,000 n/a 0.5%
    ZILLOW HOME LOANS, LLC $195,000 n/a 0.5%
    Lakeview Community Capital, LLC $185,000 n/a 0.5%
    NAVY FEDERAL CREDIT UNION $605,000 $185,000 -69.4% 0.5%
    TOWNE MORTGAGE COMPANY $185,000 n/a 0.5%
    VANDERBILT MORTGAGE AND FINANCE, INC. $85,000 $185,000 117.6% 0.5%
    AMARILLO COMMUNITY $175,000 n/a 0.4%
    FirstCapital Bank of Texas $175,000 n/a 0.4%
    VILLAGE CAPITAL MORTGAGE $125,000 $165,000 32.0% 0.4%
    EUSTIS AND AMERICAN MORTGAGE COMPANY $730,000 $145,000 -80.1% 0.4%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $135,000 n/a 0.3%
    NETWORK CAPITAL FUNDING CORPORATION $135,000 n/a 0.3%
    FREEDOM MORTGAGE CORPORATION $335,000 $115,000 -65.7% 0.3%
    First National Bank Texas $365,000 $105,000 -71.2% 0.3%
    M&T Bank $105,000 n/a 0.3%
    PNC Bank $105,000 n/a 0.3%
    HOME POINT FINANCIAL CORPORATION $95,000 n/a 0.2%
    JPMorgan Chase Bank $300,000 $95,000 -68.3% 0.2%
    MORTGAGE FINANCIAL SERVICES, LLC $95,000 n/a 0.2%
    LOANPAL, LLC $85,000 n/a 0.2%
    Wells Fargo Bank $475,000 $85,000 -82.1% 0.2%
    TEXAS TECH $65,000 n/a 0.2%
    AMERICAN ADVISORS GROUP $55,000 $15,000 -72.7% 0.0%
    CHERRY CREEK MORTGAGE, LLC $15,000 n/a 0.0%

    Hereford's top lender by overall market share is AMCAP MORTGAGE, LTD., with 26.3% market share. In second place, with 10.3%, is FirstBank Southwest, having originated $4,110,000 in loans. In third place, with 7.5%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $3,005,000 in loans. In fourth place, with 7.1%, is First Financial Bank, having originated $2,860,000 in loans. In fifth place, with 6.3%, is EVERETT FINANCIAL, INC., having originated $2,530,000 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
    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
    Hereford's median listing price for 2023-10-01 was $248,750, a difference of $11,250 (4.7%) versus the prior year and $8,800 versus the prior month.

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

    Hereford's average listing price for 2023-10-01 was $303,736, a difference of $-2,265 (-0.7%) versus the prior year and $10,476 versus the prior month.

    For the 2023-10-01 period, Hereford had 55 MLS listings, a difference of -1 listings (-2%) versus the prior month and 9 listings (20%) 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 1,844 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 1,837 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 1,772 sqft
    Hereford's median listing age (time on market) for 2023-10-01 was 0 days.

    Hereford's median square footage for active listings during the 2023-10-01 period was 1,772 sqft. One year prior, the average listing was 1,800 sqft.

    Hereford, TX Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 193 $33,135,000 $171,684
    Cash Out Refi 33 $3,345,000 $101,364
    Refi 25 $2,305,000 $92,200
    Home Improvement 11 $765,000 $69,545
    Other 6 $480,000 $80,000

    Hereford's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Cash Out Refi, with 33 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 65 $10,725,000 $165,000
    4-5% 63 $10,885,000 $172,778
    6-7% 40 $6,000,000 $150,000
    3-4% 23 $4,115,000 $178,913
    Over 8% 11 $1,405,000 $127,727
    7-8% 10 $1,630,000 $163,000
    <2.5% 10 $140,000 $14,000
    2.5-3% 7 $845,000 $120,714

    During 2022, Hereford's most frequently originated rate bucket was 5-6%, with 65 originations.

    Loan Sizing (Hereford, TX MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 130 $19,660,000 $151,231
    $100,000 or less 72 $4,250,000 $59,028
    $200k-400k 65 $15,515,000 $238,692
    $600k-1000k 1 $605,000 $605,000

    Hereford's loan sizing saw the bucket of loans from $100k-200k with 130 originations, totaling $19,660,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 145 $27,775,000 $191,552
    60-80% 43 $5,175,000 $120,349
    40-60% 23 $2,135,000 $92,826
    Under 20% 12 $100,000 $8,333
    20-40% 5 $355,000 $71,000
    Over 100% 1 $205,000 $205,000

    Hereford's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 145 originations, totaling $27,775,000 in origination value.