Portales Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Portales averaged
6.81%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.64% and
one month ago for the week of 2025-05-15, the
average rate was 6.81%.
Portales's average rate one year ago was 7.05%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.91%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Portales 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Portales 30 Year Fixed Rate Refi | 2025-06-18 | 6.91% |
| Portales 15 Year Fixed Rate | 2025-06-18 | 5.96% |
| Portales 15 Year Fixed Rate Refi | 2025-06-18 | 6.46% |
| Portales 30 Year FHA | 2025-06-18 | 0% |
| Portales 30 Year FHA Refi | 2025-06-18 | 0.1% |
| Portales 30 Year USDA | 2025-06-18 | -0.1% |
| Portales 30 Year USDA Refi | 2025-06-18 | 0.2% |
| Portales 30 Year VA | 2025-06-18 | -0.2% |
| Portales 30 Year VA Refi | 2025-06-18 | 0% |
Portales 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 Portales, 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.).
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| PRIMARY RESIDENTIAL MORTGAGE, INC. | 16 | 6.91% | $4,762 |
| QUICKEN LOANS, LLC | 8 | 7.03% | $5,779 |
| AMERISAVE MORTGAGE CORPORATION | 3 | 7.46% | $8,501 |
| Bell Bank | 3 | 6.62% | $3,061 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 7.17% | $4,501 |
| First Financial Credit Union | 3 | 6.58% | $3,634 |
| 21ST MORTGAGE CORPORATION | 2 | 8.40% | $5,836 |
| U.S. Bank | 2 | 6.25% | $3,473 |
| Wells Fargo Bank | 2 | 6.44% | $4,439 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 7.13% | $6,409 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 5.99% | $3,058 |
| Equity Prime Mortgage LLC | 1 | 10.63% | $10,626 |
| SUN WEST MORTGAGE COMPANY, INC. | 1 | 7.13% | $7,562 |
| CHURCHILL MORTGAGE CORPORATION | 1 | 7.63% | $8,711 |
| USAA Federal Savings Bank | 1 | 7.13% | $3,232 |
| JPMorgan Chase Bank | 1 | 6.00% | $3,137 |
| NAVY FEDERAL CREDIT UNION | 1 | 5.63% | $4,409 |
Portales Average Closing Costs & Other Stats
Portales, NM's 17 lenders originated 204
loans during 2024. The total origination value was $27,830,000, with an average loan value of
$136,422.
Portales's average closing costs are $4,979.
The top Portales lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with
16 loans originated. Their average total fees are
$4,762, which is $1,016
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Portales lenders (with over 10 loans originated) are
PRIMARY RESIDENTIAL MORTGAGE, INC. ($4,762), .
The lowest rate Portales lenders (with over 10 loans originated) are
PRIMARY RESIDENTIAL MORTGAGE, INC. (6.91%), .
Portales, NM 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $7,565,000 | $6,410,000 | -15.3% | 23.0% |
| Bell Bank | $2,440,000 | $2,485,000 | 1.8% | 8.9% |
| QUICKEN LOANS, LLC | $2,705,000 | $1,920,000 | -29.0% | 6.9% |
| Mortgage Research Center, LLC | $2,145,000 | $1,675,000 | -21.9% | 6.0% |
| NAVY FEDERAL CREDIT UNION | $3,265,000 | $1,415,000 | -56.7% | 5.1% |
| FREEDOM MORTGAGE CORPORATION | $745,000 | n/a | 2.7% | |
| UNITED WHOLESALE MORTGAGE, LLC | $655,000 | $740,000 | 13.0% | 2.7% |
| PENNYMAC LOAN SERVICES, LLC | $255,000 | $660,000 | 158.8% | 2.4% |
| 21ST MORTGAGE CORPORATION | $810,000 | $630,000 | -22.2% | 2.3% |
| NEW DAY FINANCIAL, LLC | $535,000 | n/a | 1.9% | |
| Barrington Bank & Trust Company, N.A. | $525,000 | n/a | 1.9% | |
| USAA Federal Savings Bank | $255,000 | $520,000 | 103.9% | 1.9% |
| SUN WEST MORTGAGE COMPANY, INC. | $465,000 | n/a | 1.7% | |
| AMERISAVE MORTGAGE CORPORATION | $260,000 | $440,000 | 69.2% | 1.6% |
| JPMorgan Chase Bank | $420,000 | n/a | 1.5% | |
| Wells Fargo Bank | $755,000 | $420,000 | -44.4% | 1.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $400,000 | n/a | 1.4% | |
| CARDINAL FINANCIAL | $305,000 | $375,000 | 23.0% | 1.3% |
| PHH Mortgage Corporation | $375,000 | n/a | 1.3% | |
| U.S. Bank | $100,000 | $375,000 | 275.0% | 1.3% |
| Sierra Pacific Mortgage Company, Inc. | $370,000 | n/a | 1.3% | |
| First Financial Credit Union | $240,000 | $330,000 | 37.5% | 1.2% |
| TEXAS TECH | $315,000 | n/a | 1.1% | |
| CHURCHILL MORTGAGE CORPORATION | $245,000 | $305,000 | 24.5% | 1.1% |
| Nations Lending Corporation | $300,000 | n/a | 1.1% | |
| GUILD MORTGAGE COMPANY | $215,000 | $285,000 | 32.6% | 1.0% |
| HOMESIDE FINANCIAL, LLC | $285,000 | n/a | 1.0% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $275,000 | n/a | 1.0% | |
| MID AMERICA MORTGAGE, INC. | $275,000 | n/a | 1.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $270,000 | n/a | 1.0% | |
| BROKER SOLUTIONS, INC. | $250,000 | $255,000 | 2.0% | 0.9% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $95,000 | $250,000 | 163.2% | 0.9% |
| Western Commerce Bank | $250,000 | n/a | 0.9% | |
| FLAT BRANCH MORTGAGE, INC. | $75,000 | $225,000 | 200.0% | 0.8% |
| Equity Prime Mortgage LLC | $215,000 | n/a | 0.8% | |
| ENVOY MORTGAGE, LTD | $195,000 | n/a | 0.7% | |
| LOANPAL, LLC | $185,000 | n/a | 0.7% | |
| DIRECTORS MORTGAGE, INC. | $155,000 | $165,000 | 6.5% | 0.6% |
| Kirtland Federal Credit Union | $155,000 | n/a | 0.6% | |
| Wallick & Volk, Inc. | $150,000 | $145,000 | -3.3% | 0.5% |
| LOANDEPOT.COM, LLC | $125,000 | $125,000 | 0.0% | 0.4% |
| PENTAGON FEDERAL CREDIT UNION | $245,000 | $105,000 | -57.1% | 0.4% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $95,000 | n/a | 0.3% | |
| City Bank | $85,000 | n/a | 0.3% | |
| GUARANTEED RATE, INC. | $235,000 | $85,000 | -63.8% | 0.3% |
| FINANCE OF AMERICA REVERSE LLC | $75,000 | n/a | 0.3% | |
| SANDIA LABORATORY | $160,000 | $55,000 | -65.6% | 0.2% |
| SPRING EQ, LLC | $55,000 | n/a | 0.2% | |
| Armed Forces Bank | $45,000 | n/a | 0.2% | |
| Coastal Community Bank | $85,000 | $40,000 | -52.9% | 0.1% |
| AMERICA FIRST | $25,000 | n/a | 0.1% |
Portales's top lender by overall market share is PRIMARY RESIDENTIAL MORTGAGE, INC., with 23.0% market share. In second place, with 8.9%, is Bell Bank, having originated $2,485,000 in loans. In third place, with 6.9%, is QUICKEN LOANS, LLC, having originated $1,920,000 in loans. In fourth place, with 6.0%, is Mortgage Research Center, LLC, having originated $1,675,000 in loans. In fifth place, with 5.1%, is NAVY FEDERAL CREDIT UNION, having originated $1,415,000 in loans.
Portales, NM Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 156 | $20,690,000 | $132,628 |
| Cash Out Refi | 25 | $3,205,000 | $128,200 |
| Refi | 13 | $3,085,000 | $237,308 |
| Other | 7 | $465,000 | $66,429 |
| Home Improvement | 3 | $385,000 | $128,333 |
Portales's most frequently cited loan purpose was Home Purchase, with 156 originations. The 2nd most popular reason was Cash Out Refi, with 25 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 89 | $13,315,000 | $149,607 |
| 7-8% | 34 | $5,300,000 | $155,882 |
| 5-6% | 32 | $5,970,000 | $186,563 |
| Over 8% | 26 | $1,710,000 | $65,769 |
| <2.5% | 17 | $475,000 | $27,941 |
| 4-5% | 2 | $450,000 | $225,000 |
| 3-4% | 1 | $235,000 | $235,000 |
| 2.5-3% | 1 | $125,000 | $125,000 |
During 2024, Portales's most frequently originated rate bucket was 6-7%, with 89 originations.
Loan Sizing (Portales, NM MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 79 | $11,525,000 | $145,886 |
| $100,000 or less | 76 | $3,050,000 | $40,132 |
| $200k-400k | 48 | $12,730,000 | $265,208 |
| $400k-600k | 1 | $525,000 | $525,000 |
Portales's loan sizing saw the bucket of loans from $100k-200k with 79 originations, totaling $11,525,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 94 | $17,290,000 | $183,936 |
| Under 20% | 42 | $650,000 | $15,476 |
| 60-80% | 35 | $4,855,000 | $138,714 |
| 40-60% | 12 | $1,070,000 | $89,167 |
| Over 100% | 7 | $1,635,000 | $233,571 |
| 20-40% | 5 | $235,000 | $47,000 |
Portales's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 94 originations, totaling $17,290,000 in origination value.