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 6.7% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2024-12-05) was 6.49% and one month ago for the week of 2024-11-07, the average rate was 6.69%.

    Hereford's average rate one year ago was 7.03%.

    For refis of the same type during the week of 2024-12-12, the average rate was 7.1%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-12-12 6.6%
    Hereford 30 Year Fixed Rate 2024-12-12 6.7%
    Hereford 30 Year Fixed Rate Refi 2024-12-12 7.1%
    Hereford 15 Year Fixed Rate 2024-12-12 5.74%
    Hereford 15 Year Fixed Rate Refi 2024-12-12 6.34%
    Hereford 30 Year FHA 2024-12-12 6.38%
    Hereford 30 Year FHA Refi 2024-12-12 6.48%
    Hereford 30 Year USDA 2024-12-12 6.3%
    Hereford 30 Year USDA Refi 2024-12-12 6.2%
    Hereford 30 Year VA 2024-12-12 6.18%
    Hereford 30 Year VA Refi 2024-12-12 5.88%
    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
    2024-06-01 $225,000 (-13.4%) $267,388 (-15.7%) 0.00 54
    2024-07-01 $219,500 (-13.6%) $267,053 (-10.1%) 0.00 53
    2024-08-01 $214,000 (-10.8%) $262,730 (-10.3%) 0.00 52
    2024-09-01 $218,000 (-9.2%) $265,701 (-9.4%) 0.00 49
    2024-10-01 $224,975 (-9.6%) $266,648 (-12.2%) 0.00 45
    2024-11-01 $222,500 (-9.2%) $232,221 (-22.8%) 0.00 49
    Hereford's median listing price for 2024-11-01 was $222,500, a difference of $-22,500 (-9.2%) versus the prior year and $-2,475 versus the prior month.

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

    Hereford's average listing price for 2024-11-01 was $232,221, a difference of $-68,595 (-22.8%) versus the prior year and $-34,427 versus the prior month.

    For the 2024-11-01 period, Hereford had 49 MLS listings, a difference of 4 listings (9%) versus the prior month and -8 listings (-14%) 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 1,755 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
    2024-06-01 0 days 1,779 sqft
    2024-07-01 0 days 1,787 sqft
    2024-08-01 0 days 1,777 sqft
    2024-09-01 0 days 1,786 sqft
    2024-10-01 0 days 1,790 sqft
    2024-11-01 0 days 1,786 sqft
    Hereford's median listing age (time on market) for 2024-11-01 was 0 days.

    Hereford's median square footage for active listings during the 2024-11-01 period was 1,786 sqft. One year prior, the average listing was 1,797 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.