LAS CRUCES Mortgage Rates
30 Year Fixed Rate mortgages in Las Cruces averaged
3.1%
for the week of 2021-11-24, compared to the national average of
3.1% for the same period.
The average rate for the prior week (2021-11-18) was
3.5% and
one month ago for the week of 2021-10-21, the
average rate was 3.29%.
Las Cruces's average rate one year ago was 2.92%.
For refis of the same type during the week of 2021-11-24, the average rate
was 3%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2021-11-24 | 3.1% |
| Las Cruces 30 Year Fixed Rate | 2021-11-24 | 3.1% |
| Las Cruces 30 Year Fixed Rate Refi | 2021-11-24 | 3% |
| Las Cruces 15 Year Fixed Rate | 2021-11-24 | 2.87% |
| Las Cruces 15 Year Fixed Rate Refi | 2021-11-24 | 2.56% |
| Las Cruces 30 Year FHA | 2021-11-24 | 3.44% |
| Las Cruces 30 Year FHA Refi | 2021-11-24 | 3.5% |
| Las Cruces 30 Year USDA | 2021-11-24 | 3.24% |
| Las Cruces 30 Year VA | 2021-11-24 | 3.3% |
| Las Cruces 30 Year VA Refi | 2021-11-24 | 2.9% |
LAS CRUCES Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the LAS CRUCES, 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.).
LAS CRUCES, NM's 162 lenders originated 6,601
loans during 2020. The total origination value was $1,280,685,000, with an average loan value of
$194,014.
The top LAS CRUCES lender as defined by loan originations is Citizens Bank of Las Cruces, with
491 loans originated. Their average total fees are
$2,383, which is $2,920
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee LAS CRUCES lenders (with over 10 loans originated) are
First American Bank ($1,945), Citizens Bank of Las Cruces ($2,383), Pioneer Bank ($2,680), BETTER MORTGAGE CORPORATION ($2,893) and KELLER MORTGAGE, LLC ($2,936).
The lowest rate LAS CRUCES lenders (with over 10 loans originated) are
AMERISAVE MORTGAGE CORPORATION (2.87%), UNITED WHOLESALE MORTGAGE, LLC (2.94%), First American Bank (2.98%), PRIMARY RESIDENTIAL MORTGAGE, INC. (3.04%) and Citizens Bank of Las Cruces (3.11%).
LAS CRUCES, NM Lender 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 | 2019 Loan Value | 2020 Loan Value | % Change | 2020 Market Share |
|---|---|---|---|---|
| Citizens Bank of Las Cruces | $111,985,000 | $176,065,000 | 57.2% | 13.7% |
| Quicken Loans | $60,610,000 | $143,055,000 | 136.0% | 11.2% |
| First American Bank | $41,605,000 | $81,515,000 | 95.9% | 6.4% |
| New American Funding (dba for Broker Solutions Inc) | $38,480,000 | $67,155,000 | 74.5% | 5.2% |
| Freedom Mortgage Corporation | $6,710,000 | $55,760,000 | 731.0% | 4.4% |
| Primary Residential Mortgage Inc. | $3,535,000 | $39,065,000 | 1,005.1% | 3.1% |
| First New Mexico Bank Las Cruces | $25,000,000 | $33,655,000 | 34.6% | 2.6% |
| WELLS FARGO BANK NA | $32,990,000 | $29,895,000 | -9.4% | 2.3% |
| FirstLight Federal Credit Union | $19,205,000 | $29,005,000 | 51.0% | 2.3% |
| Mortgage Research Center LLC | $14,310,000 | $27,585,000 | 92.8% | 2.2% |
| loanDepot LLC | $14,475,000 | $27,140,000 | 87.5% | 2.1% |
| Waterstone Mortgage Corp | $9,250,000 | $25,475,000 | 175.4% | 2.0% |
| GATEWAY MORTGAGE GROUP | $11,085,000 | $22,895,000 | 106.5% | 1.8% |
| USAA FEDERAL SAVINGS BANK | $23,160,000 | $20,590,000 | -11.1% | 1.6% |
| CORNERSTONE HOME LENDING, INC. | $5,930,000 | $18,640,000 | 214.3% | 1.5% |
| Mann Mortgage LLC | $4,435,000 | $18,315,000 | 313.0% | 1.4% |
| Guaranteed Rate Inc. | $5,365,000 | $17,875,000 | 233.2% | 1.4% |
| White Sands Federal Credit Union | $11,240,000 | $16,625,000 | 47.9% | 1.3% |
| US BANK, N.A. | $4,075,000 | $16,285,000 | 299.6% | 1.3% |
| MOVEMENT MORTGAGE, LLC | $7,535,000 | $15,480,000 | 105.4% | 1.2% |
| COMPASS BANK | $9,685,000 | $14,915,000 | 54.0% | 1.2% |
| Nationstar Mortgage | $4,550,000 | $13,085,000 | 187.6% | 1.0% |
| Caliber Home Loans Inc | $4,540,000 | $12,995,000 | 186.2% | 1.0% |
| United Shore Financial Services LLC | $3,810,000 | $12,985,000 | 240.8% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $10,220,000 | $12,125,000 | 18.6% | 0.9% |
| Washington Federal | $7,295,000 | $12,045,000 | 65.1% | 0.9% |
| LoanPal | $5,120,000 | $12,035,000 | 135.1% | 0.9% |
| PIONEER BANK | $12,385,000 | $11,440,000 | -7.6% | 0.9% |
| Amerisave Mortgage Corporation | $3,360,000 | $11,125,000 | 231.1% | 0.9% |
| PENNYMAC LOAN SERVICES LLC | $4,075,000 | $10,500,000 | 157.7% | 0.8% |
| Clearpath Lending | $4,060,000 | $10,220,000 | 151.7% | 0.8% |
| HomeBridge Financial Services, Inc. | $6,490,000 | $9,410,000 | 45.0% | 0.7% |
| Bank of America NA | $10,075,000 | $9,395,000 | -6.7% | 0.7% |
| Amcap Mortgage Ltd. | $405,000 | $8,905,000 | 2,098.8% | 0.7% |
| Sunflower Bank, N.A. | $6,645,000 | $8,260,000 | 24.3% | 0.6% |
| Berkadia Commercial Mortgage | $7,765,000 | n/a | 0.6% | |
| Cardinal Financial Company LP | $2,130,000 | $7,220,000 | 239.0% | 0.6% |
| JPMorgan Chase Bank, NA | $6,235,000 | $7,070,000 | 13.4% | 0.6% |
| Better Mortgage Corporation | $1,105,000 | $7,005,000 | 533.9% | 0.5% |
| Lakeview Loan Servicing, LLC | $1,990,000 | $7,000,000 | 251.8% | 0.5% |
| BOKF NA | $4,065,000 | $6,535,000 | 60.8% | 0.5% |
| 21ST MORTGAGE | $2,760,000 | $5,920,000 | 114.5% | 0.5% |
| CMG Mortgage Inc. | $6,915,000 | $5,720,000 | -17.3% | 0.4% |
| The Federal Savings Bank | $3,665,000 | $5,330,000 | 45.4% | 0.4% |
| NewDay Financial LLC dba NewDay USA | $2,125,000 | $5,230,000 | 146.1% | 0.4% |
| BANK OF THE WEST | $4,120,000 | $5,220,000 | 26.7% | 0.4% |
| Keller Mortgage LLC | $2,940,000 | $4,045,000 | 37.6% | 0.3% |
| Barrington Bank & Trust | $2,250,000 | $3,890,000 | 72.9% | 0.3% |
| Planet Home Lending LLC | $3,535,000 | $3,835,000 | 8.5% | 0.3% |
| Synergy One Lending | $3,670,000 | $3,695,000 | 0.7% | 0.3% |
| Village Capital & Investment | $1,005,000 | $3,630,000 | 261.2% | 0.3% |
| CARRINGTON MORTGAGE SERVICES | $3,240,000 | $3,365,000 | 3.9% | 0.3% |
| Commerce Home Mortgage Inc. | $4,475,000 | $3,350,000 | -25.1% | 0.3% |
| FAIRWAY INDEPENDENT MORT CORP | $3,715,000 | $3,305,000 | -11.0% | 0.3% |
| CERTAIN HOME LOANS, LLC | $185,000 | $3,265,000 | 1,664.9% | 0.3% |
| NEWREZ LLC | $1,260,000 | $3,265,000 | 159.1% | 0.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC | $1,795,000 | $3,145,000 | 75.2% | 0.2% |
| Castle & Cooke Mortgage LLC | $1,820,000 | $3,075,000 | 69.0% | 0.2% |
| Sun West Mortgage Company Inc. | $1,215,000 | $3,070,000 | 152.7% | 0.2% |
| American Financial Network Inc. | $1,750,000 | $2,900,000 | 65.7% | 0.2% |
| ANGEL OAK HOME LOANS LLC | $2,790,000 | n/a | 0.2% | |
| Pentagon Federal Credit Union | $155,000 | $2,390,000 | 1,441.9% | 0.2% |
| American Financing Corporation | $625,000 | $2,360,000 | 277.6% | 0.2% |
| Low VA Rates | $565,000 | $2,300,000 | 307.1% | 0.2% |
| Legacy Mortgage LLC | $850,000 | $2,265,000 | 166.5% | 0.2% |
| PRIMELENDING | $2,400,000 | $2,200,000 | -8.3% | 0.2% |
| Sun American Mortgage Company | $700,000 | $2,145,000 | 206.4% | 0.2% |
| NOVA Financial & Investment Corporation dba: Nova Home Loans | $815,000 | $2,030,000 | 149.1% | 0.2% |
| BNC NATIONAL BANK | $850,000 | $2,025,000 | 138.2% | 0.2% |
| NBKC Bank | $755,000 | $1,990,000 | 163.6% | 0.2% |
| CITY BANK | $2,795,000 | $1,865,000 | -33.3% | 0.1% |
| V.I.P. Mortgage Inc. | $105,000 | $1,835,000 | 1,647.6% | 0.1% |
| First Savings Bank | $295,000 | $1,810,000 | 513.6% | 0.1% |
| First Guaranty Mortgage Corporation | $930,000 | $1,715,000 | 84.4% | 0.1% |
| Sovereign Lending Group, Inc | $1,310,000 | $1,695,000 | 29.4% | 0.1% |
| Magnolia Bank Incorporated | $460,000 | $1,685,000 | 266.3% | 0.1% |
| CBNA | $315,000 | $1,670,000 | 430.2% | 0.1% |
| SecurityNational Mortgage Company | $695,000 | $1,650,000 | 137.4% | 0.1% |
| Nusenda Credit Union | $570,000 | $1,625,000 | 185.1% | 0.1% |
| Goldwater Bank National Association | $1,575,000 | n/a | 0.1% | |
| First National Bank Texas | $910,000 | $1,560,000 | 71.4% | 0.1% |
| TIAA, FSB | $985,000 | $1,555,000 | 57.9% | 0.1% |
| Ark-La-Tex Financial Services LLC | $1,465,000 | n/a | 0.1% | |
| Belem Servicing, LLC dba Patriot Home Mortgage | $155,000 | $1,455,000 | 838.7% | 0.1% |
| Home Point Financial Corporation | $845,000 | $1,415,000 | 67.5% | 0.1% |
| Flagstar Bank | $1,635,000 | $1,355,000 | -17.1% | 0.1% |
| Plaza Home Mortgage Inc. | $55,000 | $1,355,000 | 2,363.6% | 0.1% |
| Finance of America Mortgage LLC | $1,180,000 | $1,250,000 | 5.9% | 0.1% |
| FirstBank | $1,545,000 | $1,225,000 | -20.7% | 0.1% |
| Union Home Mortgage Company | $135,000 | $1,180,000 | 774.1% | 0.1% |
| Mortgage Lenders of America LLC | $1,170,000 | $1,135,000 | -3.0% | 0.1% |
| AimLoan.com | $405,000 | $1,125,000 | 177.8% | 0.1% |
| TIB The Independent Bankers Bank | $540,000 | $1,105,000 | 104.6% | 0.1% |
| Churchill Mortgage Corporation | $800,000 | $1,030,000 | 28.8% | 0.1% |
| Mortgage Solutions of Colorado LLC | $235,000 | $1,015,000 | 331.9% | 0.1% |
| Reliance First Capital LLC | $115,000 | $985,000 | 756.5% | 0.1% |
| Member First Mortgage LLC | $685,000 | $915,000 | 33.6% | 0.1% |
| Rocky Mountain Mortgage Company | $390,000 | $900,000 | 130.8% | 0.1% |
| American Pacific Mortgage Corporation | $885,000 | n/a | 0.1% | |
| NBH Bank | $235,000 | $855,000 | 263.8% | 0.1% |
| El Paso Area Teachers Federal Credit Union | $265,000 | $825,000 | 211.3% | 0.1% |
| James B. Nutter & Company | $155,000 | $825,000 | 432.3% | 0.1% |
| Guild Mortgage Company | $1,060,000 | $810,000 | -23.6% | 0.1% |
| Mid America Mortgage Inc. | $900,000 | $795,000 | -11.7% | 0.1% |
| ENTERPRISE BANK & TRUST | $125,000 | $780,000 | 524.0% | 0.1% |
| US Mortgage of Florida | $750,000 | n/a | 0.1% | |
| Bank 34 | $7,655,000 | $745,000 | -90.3% | 0.1% |
| Loan Simple Inc | $225,000 | $730,000 | 224.4% | 0.1% |
| Cascade Financial Services | $595,000 | $715,000 | 20.2% | 0.1% |
| Discover Bank | $345,000 | $705,000 | 104.3% | 0.1% |
| Branch Banking And Trust Co | $690,000 | n/a | 0.1% | |
| Premia Mortgage, LLC | $655,000 | n/a | 0.1% | |
| Meridian Bank | $650,000 | n/a | 0.1% | |
| FIRST FINANCIAL CREDIT UNION | $640,000 | n/a | 0.0% | |
| American Financial Resources Inc. | $360,000 | $630,000 | 75.0% | 0.0% |
| Homestead Funding Corp. | $450,000 | $630,000 | 40.0% | 0.0% |
| Academy Mortgage Corporation | $740,000 | $615,000 | -16.9% | 0.0% |
| Stearns Lending | $710,000 | $595,000 | -16.2% | 0.0% |
| Prime Choice Funding, Inc. | $530,000 | $590,000 | 11.3% | 0.0% |
| KS StateBank | $590,000 | $555,000 | -5.9% | 0.0% |
| Reverse Mortgage Funding LLC | $85,000 | $550,000 | 547.1% | 0.0% |
| Eustis Mortgage Corporation | $635,000 | $545,000 | -14.2% | 0.0% |
| LendUS LLC dba RPM Mortgage | $730,000 | $525,000 | -28.1% | 0.0% |
| Peoples Mortgage Company | $185,000 | $520,000 | 181.1% | 0.0% |
| SPRING EQ, LLC | $505,000 | n/a | 0.0% | |
| FIRST NATIONAL BANK OF MCGREGOR | $495,000 | n/a | 0.0% | |
| Gardner Financial Services dba Legacy Mutual Mortgage | $1,050,000 | $435,000 | -58.6% | 0.0% |
| Homeowners Financial Group | $1,370,000 | $435,000 | -68.2% | 0.0% |
| HAPPY STATE BANK | $165,000 | $430,000 | 160.6% | 0.0% |
| Network Capital Funding Corporation | $680,000 | $430,000 | -36.8% | 0.0% |
| Nations Lending Corporation | $455,000 | $425,000 | -6.6% | 0.0% |
| M&T Bank | $415,000 | n/a | 0.0% | |
| PNC BANK NA | $420,000 | $410,000 | -2.4% | 0.0% |
| Triad Financial Services Inc | $425,000 | $400,000 | -5.9% | 0.0% |
| Citizens Equity First Credit Union (CEFCU) | $395,000 | n/a | 0.0% | |
| Northpointe Bank | $490,000 | $390,000 | -20.4% | 0.0% |
| VanDyk Mortgage Corporation | $400,000 | $390,000 | -2.5% | 0.0% |
| Evolve Bank & Trust | $270,000 | $370,000 | 37.0% | 0.0% |
| BELL BANK | $360,000 | n/a | 0.0% | |
| PHH MORTGAGE CORPORATION | $560,000 | $350,000 | -37.5% | 0.0% |
| Amerifirst Financial Inc. | $345,000 | n/a | 0.0% | |
| OakStar Bank | $345,000 | n/a | 0.0% | |
| WSFS Bank | $345,000 | n/a | 0.0% | |
| Wyndham Capital Mortgage | $705,000 | $345,000 | -51.1% | 0.0% |
| AAG | $750,000 | $340,000 | -54.7% | 0.0% |
| Intercontinental Capital Group, Inc. | $340,000 | n/a | 0.0% | |
| BMO Harris Bank N.A. | $125,000 | $335,000 | 168.0% | 0.0% |
| Weichert Financial Services | $335,000 | n/a | 0.0% | |
| Centennial Lending LLC | $330,000 | n/a | 0.0% | |
| Contour Mortgage Corporation | $330,000 | n/a | 0.0% | |
| Sandia Area Federal Credit Union | $330,000 | n/a | 0.0% | |
| First Internet Bank | $295,000 | $325,000 | 10.2% | 0.0% |
| Highlands Residential Mortgage Ltd | $325,000 | n/a | 0.0% | |
| Paramount Bank | $315,000 | n/a | 0.0% | |
| Simmons Bank | $780,000 | $315,000 | -59.6% | 0.0% |
| Embrace Home Loans, Inc. | $415,000 | $310,000 | -25.3% | 0.0% |
| First Western Trust Bank | $305,000 | n/a | 0.0% | |
| Accelerate Mortgage | $295,000 | n/a | 0.0% | |
| One Nevada Credit Union | $295,000 | n/a | 0.0% | |
| RBC Bank (Georgia), N.A. | $295,000 | n/a | 0.0% | |
| Intercap Lending Inc | $305,000 | $285,000 | -6.6% | 0.0% |
| Paramount Residential Mortgage Group Inc. | $470,000 | $285,000 | -39.4% | 0.0% |
| Willamette Valley Bank | $285,000 | n/a | 0.0% | |
| First Community Mortgage Inc. | $280,000 | n/a | 0.0% | |
| Kirtland Federal Credit Union | $485,000 | $280,000 | -42.3% | 0.0% |
| CAPITAL BANK, NA | $275,000 | n/a | 0.0% | |
| Finance of America Reverse LLC | $260,000 | $275,000 | 5.8% | 0.0% |
| State Department Federal Credit Union | $265,000 | n/a | 0.0% | |
| Texana Bank, N.A. | $265,000 | n/a | 0.0% | |
| Cherry Creek Mortgage Co. Inc. | $135,000 | $260,000 | 92.6% | 0.0% |
| LendingOne LLC | $260,000 | n/a | 0.0% | |
| Presidential Bank FSB | $255,000 | n/a | 0.0% | |
| First Savings Bank | $295,000 | $250,000 | -15.3% | 0.0% |
| ZB, N.A. | $240,000 | n/a | 0.0% | |
| Star One Credit Union | $235,000 | n/a | 0.0% | |
| top flite financial, inc. | $235,000 | n/a | 0.0% | |
| First Home Bank | $625,000 | $225,000 | -64.0% | 0.0% |
| Michigan Mutual, Inc. DBA MiMutual Mortgage | $225,000 | n/a | 0.0% | |
| NFM, Inc. | $225,000 | n/a | 0.0% | |
| North American Savings Bank | $225,000 | $225,000 | 0.0% | 0.0% |
| Supreme Lending/ Everett Financial Inc. | $2,320,000 | $220,000 | -90.5% | 0.0% |
| Draper and Kramer Mortgage Corp. | $215,000 | n/a | 0.0% | |
| Guaranteed Rate Affinity LLC | $125,000 | $215,000 | 72.0% | 0.0% |
| Merchants Bank of Indiana | $215,000 | n/a | 0.0% | |
| MIDWEST COMMUNITY BANK | $215,000 | n/a | 0.0% | |
| Open Mortgage LLC | $215,000 | n/a | 0.0% | |
| AMARILLO NATIONAL BANK | $205,000 | n/a | 0.0% | |
| American Bank of Oklahoma | $205,000 | n/a | 0.0% | |
| Crescent Mortgage Company | $205,000 | n/a | 0.0% | |
| Impac Mortgage Corp. dba CashCall Mortgage | $125,000 | $205,000 | 64.0% | 0.0% |
| United Mortgage Corp | $205,000 | n/a | 0.0% | |
| Bank of England | $315,000 | $195,000 | -38.1% | 0.0% |
| FBC Mortgage LLC | $195,000 | n/a | 0.0% | |
| MIT Federal Credit Union | $195,000 | n/a | 0.0% | |
| TCF National Bank | $190,000 | n/a | 0.0% | |
| Armed Forces Bank | $185,000 | n/a | 0.0% | |
| Digital Federal Credit Union | $175,000 | n/a | 0.0% | |
| First Financial Bank | $380,000 | $175,000 | -53.9% | 0.0% |
| IBERIABANK | $175,000 | n/a | 0.0% | |
| FortuneBank | $165,000 | n/a | 0.0% | |
| Mountain America Credit Union | $60,000 | $165,000 | 175.0% | 0.0% |
| Signature Federal Credit Union | $165,000 | n/a | 0.0% | |
| Southwest Funding LP | $165,000 | $165,000 | 0.0% | 0.0% |
| Bay Equity LLC | $400,000 | $155,000 | -61.3% | 0.0% |
| Citywide Home Loans A Utah Corporation | $155,000 | n/a | 0.0% | |
| Credit Human Federal Credit Union | $155,000 | n/a | 0.0% | |
| LendSure Mortgage Corp | $155,000 | n/a | 0.0% | |
| ARVEST BANK | $265,000 | $145,000 | -45.3% | 0.0% |
| Great Western Financial Services Inc. | $145,000 | n/a | 0.0% | |
| Union Square Credit Union | $145,000 | n/a | 0.0% | |
| WEI Mortgage LLC | $145,000 | n/a | 0.0% | |
| Del Norte Credit Union | $35,000 | $135,000 | 285.7% | 0.0% |
| RANLife, Inc. | $55,000 | $135,000 | 145.5% | 0.0% |
| Royal United Mortgage LLC | $285,000 | $135,000 | -52.6% | 0.0% |
| Land Home Financial Services Inc. | $125,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $350,000 | $125,000 | -64.3% | 0.0% |
| Watermark Home Loans | $645,000 | $125,000 | -80.6% | 0.0% |
| HomeTrust Mortgage Company | $155,000 | $115,000 | -25.8% | 0.0% |
| Neighborhood Loans | $115,000 | n/a | 0.0% | |
| Oceanside Mortgage Company | $250,000 | $115,000 | -54.0% | 0.0% |
| OCMBC Inc. | $370,000 | $115,000 | -68.9% | 0.0% |
| Starboard Financial Management, LLC | $155,000 | $115,000 | -25.8% | 0.0% |
| Citibank, N.A. | $560,000 | $110,000 | -80.4% | 0.0% |
| The Union Bank Company | $675,000 | $105,000 | -84.4% | 0.0% |
| HighTechLending Inc. | $75,000 | n/a | 0.0% | |
| evolve Federal Credit Union | $475,000 | $65,000 | -86.3% | 0.0% |
| Tower Federal Credit Union | $55,000 | n/a | 0.0% | |
| United States Senate Federal Credit Union | $55,000 | n/a | 0.0% | |
| The Farmers and Mechanics Bank | $195,000 | $35,000 | -82.1% | 0.0% |
LAS CRUCES's top lender by overall market share is Citizens Bank of Las Cruces, with 13.7% market share. In second place, with 11.2%, is Quicken Loans, having originated $143,055,000 in loans. In third place, with 6.4%, is First American Bank, having originated $81,515,000 in loans. In third place, with 5.2%, is New American Funding (dba for Broker Solutions Inc), having originated $67,155,000 in loans. In third place, with 4.4%, is Freedom Mortgage Corporation, having originated $55,760,000 in loans.
LAS CRUCES, NM Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 3,101 | $592,905,000 | $191,198 |
| Refi | 2,640 | $537,260,000 | $203,508 |
| Cash Out Refi | 728 | $138,070,000 | $189,657 |
| Other | 74 | $7,290,000 | $98,514 |
| Home Improvement | 58 | $5,160,000 | $88,966 |
Las Cruces's most frequently cited loan purpose was Home Purchase, with 3,101 originations. The 2nd most popular reason was Refi, with 2,640 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 2,642 | $523,030,000 | $197,967 |
| 2.5-3% | 2,252 | $481,060,000 | $213,615 |
| <2.5% | 765 | $155,825,000 | $203,693 |
| 4-5% | 330 | $59,190,000 | $179,364 |
| 5-6% | 293 | $15,415,000 | $52,611 |
| 7-8% | 54 | $4,280,000 | $79,259 |
| 6-7% | 51 | $3,865,000 | $75,784 |
| Over 8% | 46 | $3,840,000 | $83,478 |
During 2020, Las Cruces's most frequently originated rate bucket was 3-4%, with 2,642 originations.
Loan Sizing (LAS CRUCES, NM MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 3,136 | $476,810,000 | $152,044 |
| $200k-400k | 2,323 | $612,425,000 | $263,635 |
| $100,000 or less | 873 | $46,815,000 | $53,625 |
| $400k-600k | 236 | $108,270,000 | $458,771 |
| $600k-1000k | 25 | $18,055,000 | $722,200 |
| $Over $1MM | 8 | $18,310,000 | $2,288,750 |
LAS CRUCES's loan sizing saw the bucket of loans from $100k-200k with 3,136 originations, totaling $476,810,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 3,012 | $631,050,000 | $209,512 |
| 60-80% | 1,871 | $381,595,000 | $203,952 |
| 40-60% | 541 | $94,875,000 | $175,370 |
| Under 20% | 306 | $4,320,000 | $14,118 |
| 20-40% | 170 | $19,830,000 | $116,647 |
| Over 100% | 121 | $32,725,000 | $270,455 |
LAS CRUCES's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 3,012 originations, totaling $631,050,000 in origination value.