Ruidoso 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 Ruidoso averaged 7.31% for the week of 2024-11-07, compared to the national average of 6.79% for the same period.

    The average rate for the prior week (2024-10-31) was 7.14% and one month ago for the week of 2024-10-03, the average rate was 6.34%.

    Ruidoso's average rate one year ago was 8.18%.

    For refis of the same type during the week of 2024-11-07, the average rate was 7.29%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-07 6.79%
    Ruidoso 30 Year Fixed Rate 2024-11-07 7.31%
    Ruidoso 30 Year Fixed Rate Refi 2024-11-07 7.29%
    Ruidoso 15 Year Fixed Rate 2024-11-07 6%
    Ruidoso 15 Year Fixed Rate Refi 2024-11-07 6.5%
    Ruidoso 30 Year FHA 2024-11-07 6.63%
    Ruidoso 30 Year FHA Refi 2024-11-07 6.63%
    Ruidoso 30 Year USDA 2024-11-07 6.28%
    Ruidoso 30 Year USDA Refi 2024-11-07 6.28%
    Ruidoso 30 Year VA 2024-11-07 6.14%
    Ruidoso 30 Year VA Refi 2024-11-07 6.54%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ruidoso, NM.

    Ruidoso 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 Ruidoso, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    City Bank 44 7.04% $5,495
    UNITED WHOLESALE MORTGAGE, LLC 43 7.09% $6,485
    Century Mortgage Company DBA Century Lending Company 16 7.48% $5,067
    QUICKEN LOANS, LLC 15 6.90% $7,911
    First American Bank 13 6.88% $3,913
    Gateway First Bank 6 7.29% $5,827
    JPMorgan Chase Bank 5 7.32% $5,705
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 7.05% $5,890
    Flagstar Bank, FSB 4 7.13% $7,938
    21ST MORTGAGE CORPORATION 4 8.63% $5,830
    GUILD MORTGAGE COMPANY 4 7.40% $4,100
    BROKER SOLUTIONS, INC. 3 6.66% $9,622
    USAA Federal Savings Bank 3 6.83% $5,669
    Wells Fargo Bank 3 6.33% $5,965
    AMCAP MORTGAGE, LTD. 3 7.21% $8,768
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $11,642
    Mortgage Research Center, LLC 2 7.19% $5,761
    CMG MORTGAGE, INC. 2 7.43% $7,792
    First Financial Bank 2 7.44% $6,359
    First National Bank Texas 2 7.25% $7,898
    HOMEXPRESS MORTGAGE CORP. 2 7.88% $20,439
    LOANDEPOT.COM, LLC 2 7.25% $6,295
    MID AMERICA MORTGAGE, INC. 2 7.13% $13,821
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.88% $5,898
    ROYAL UNITED MORTGAGE LLC 2 6.94% $7,611
    TEXAS TECH 2 6.44% $4,382
    Goldman Sachs Bank USA 1 6.45% $3,846
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $7,250
    GUARANTEED RATE, INC. 1 6.50% $5,854
    DIRECTORS MORTGAGE, INC. 1 6.38% $6,778
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 8.13% $8,735
    VAN DYK MORTGAGE CORPORATION 1 6.25% $2,671
    Citizens Bank of Las Cruces 1 8.25% $14,466
    KELLER MORTGAGE, LLC 1 5.99% $3,108
    LENDSURE MORTGAGE CORP. 1 8.75% $12,992
    V.I.P. MORTGAGE, INC. 1 7.63% $13,181
    LOANPEOPLE, LLC 1 6.38% $3,638
    LRS FINANCIAL NETWORK, INC. 1 7.50% $8,613
    Washington Federal Bank 1 6.88% $4,691
    Morgan Stanley Private Bank 1 5.80% $4,733
    CARDINAL FINANCIAL 1 6.99% $10,350
    NAVY FEDERAL CREDIT UNION 1 6.13% $4,980
    Northpointe Bank 1 6.75% $5,627
    NUSENDA 1 5.13% $2,591
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $13,003
    PNC Bank 1 7.50% $5,899
    Waterstone Mortgage Corporation 1 7.38% $14,479
    CALIBER HOME LOANS, INC. 1 7.13% $5,860
    BMO Harris Bank 1 5.63% $3,547
    Raymond James Bank 1 6.13% $1,985
    Ally Bank 1 6.00% $6,039
    Stifel Bank and Trust 1 5.50% $3,783
    ZILLOW HOME LOANS, LLC 1 6.00% $5,749
    The Federal Savings Bank 1 6.13% $8,290
    THRIVE MORTGAGE, LLC 1 6.13% $9,484
    Arvest Bank 1 6.50% $3,759
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.99% $17,693
    American National Bank & Trust 1 7.75% $7,631
    U.S. Bank 1 7.75% $2,576
    First United Bank 1 6.75% $5,194
    First United Bank and Trust Company 1 7.50% $11,224
    EVERETT FINANCIAL, INC. 1 6.13% $6,709
    FREEDOM MORTGAGE CORPORATION 1 7.25% $11,542
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.95% $3,137

    Ruidoso Average Closing Costs & Other Stats

    Ruidoso, NM's 64 lenders originated 479 loans during 2023. The total origination value was $121,945,000, with an average loan value of $254,582.

    Ruidoso's average closing costs are $4,909.

    The top Ruidoso lender as defined by loan originations is City Bank, with 44 loans originated. Their average total fees are $5,495, which is $990 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Ruidoso lenders (with over 10 loans originated) are First American Bank ($3,913), Century Mortgage Company DBA Century Lending Company ($5,067), City Bank ($5,495), UNITED WHOLESALE MORTGAGE, LLC ($6,485) and QUICKEN LOANS, LLC ($7,911).

    The lowest rate Ruidoso lenders (with over 10 loans originated) are First American Bank (6.88%), QUICKEN LOANS, LLC (6.90%), City Bank (7.04%), UNITED WHOLESALE MORTGAGE, LLC (7.09%) and Century Mortgage Company DBA Century Lending Company (7.48%).

    Ruidoso, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    UNITED WHOLESALE MORTGAGE, LLC $22,865,000 $19,460,000 -14.9% 16.0%
    City Bank $20,885,000 $16,250,000 -22.2% 13.3%
    Century Mortgage Company DBA Century Lending Company $7,005,000 $8,150,000 16.3% 6.7%
    QUICKEN LOANS, LLC $8,270,000 $5,875,000 -29.0% 4.8%
    First American Bank $6,815,000 $5,265,000 -22.7% 4.3%
    First Savings Bank $1,300,000 $4,495,000 245.8% 3.7%
    Flagstar Bank, FSB $6,800,000 $3,395,000 -50.1% 2.8%
    Mortgage Research Center, LLC $2,885,000 $2,445,000 -15.3% 2.0%
    AMCAP MORTGAGE, LTD. $1,520,000 $2,390,000 57.2% 2.0%
    21ST MORTGAGE CORPORATION $1,930,000 $2,350,000 21.8% 1.9%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $3,630,000 $2,340,000 -35.5% 1.9%
    First United Bank $265,000 $2,085,000 686.8% 1.7%
    Gateway First Bank $2,515,000 $1,915,000 -23.9% 1.6%
    HOMEXPRESS MORTGAGE CORP. $255,000 $1,905,000 647.1% 1.6%
    First Financial Bank $1,660,000 $1,810,000 9.0% 1.5%
    AMERICAN PACIFIC MORTGAGE CORPORATION $510,000 $1,805,000 253.9% 1.5%
    BROKER SOLUTIONS, INC. $1,690,000 $1,245,000 -26.3% 1.0%
    Community National Bank $610,000 $1,190,000 95.1% 1.0%
    Pioneer Bank $380,000 $1,170,000 207.9% 1.0%
    JPMorgan Chase Bank $2,185,000 $1,155,000 -47.1% 0.9%
    USAA Federal Savings Bank $310,000 $1,110,000 258.1% 0.9%
    LOANDEPOT.COM, LLC $1,435,000 $1,090,000 -24.0% 0.9%
    Waterstone Mortgage Corporation $1,320,000 $1,050,000 -20.5% 0.9%
    GUILD MORTGAGE COMPANY $690,000 $990,000 43.5% 0.8%
    NAVY FEDERAL CREDIT UNION $1,260,000 $915,000 -27.4% 0.8%
    CMG MORTGAGE, INC. $255,000 $755,000 196.1% 0.6%
    PNC Bank $970,000 $755,000 -22.2% 0.6%
    The Federal Savings Bank $225,000 $725,000 222.2% 0.6%
    Truist $725,000 n/a 0.6%
    DRAPER AND KRAMER MORTGAGE CORP. $265,000 $655,000 147.2% 0.5%
    Washington Federal Bank $3,050,000 $645,000 -78.9% 0.5%
    Wells Fargo Bank $3,775,000 $630,000 -83.3% 0.5%
    FREEDOM MORTGAGE CORPORATION $630,000 $620,000 -1.6% 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,380,000 $585,000 -57.6% 0.5%
    KELLER MORTGAGE, LLC $640,000 $575,000 -10.2% 0.5%
    THRIVE MORTGAGE, LLC $835,000 $570,000 -31.7% 0.5%
    Goldman Sachs Bank USA $545,000 n/a 0.4%
    Morgan Stanley Private Bank $355,000 $535,000 50.7% 0.4%
    COUNTRYPLACE MORTGAGE, LTD. $85,000 $520,000 511.8% 0.4%
    TEXAS TECH $1,490,000 $520,000 -65.1% 0.4%
    MOVEMENT MORTGAGE, LLC $305,000 $515,000 68.9% 0.4%
    PENNYMAC LOAN SERVICES, LLC $870,000 $515,000 -40.8% 0.4%
    First National Bank Texas $855,000 $510,000 -40.4% 0.4%
    Fifth Third Bank $505,000 n/a 0.4%
    AMERICAN FINANCIAL NETWORK, INC. $495,000 n/a 0.4%
    POLARIS HOME FUNDING CORP. $475,000 n/a 0.4%
    MID AMERICA MORTGAGE, INC. $775,000 $470,000 -39.4% 0.4%
    Citizens Bank of Las Cruces $990,000 $465,000 -53.0% 0.4%
    Rocky Mountain Mortgage Company $425,000 n/a 0.3%
    BancFirst $415,000 n/a 0.3%
    Ally Bank $135,000 $405,000 200.0% 0.3%
    LENDSURE MORTGAGE CORP. $395,000 n/a 0.3%
    American National Bank & Trust $385,000 n/a 0.3%
    Commerce Home Mortgage, Inc. $490,000 $385,000 -21.4% 0.3%
    Western Commerce Bank $385,000 n/a 0.3%
    First State Bank of St. Charles, Missouri $375,000 n/a 0.3%
    SOUTHWEST STAGE FUNDING, LLC $165,000 $370,000 124.2% 0.3%
    EVERETT FINANCIAL, INC. $365,000 n/a 0.3%
    First National Bank $570,000 $355,000 -37.7% 0.3%
    ValueBank Texas $355,000 n/a 0.3%
    CARDINAL FINANCIAL $425,000 $345,000 -18.8% 0.3%
    Prosperity Bank $205,000 $340,000 65.9% 0.3%
    V.I.P. MORTGAGE, INC. $235,000 $335,000 42.6% 0.3%
    First United Bank and Trust Company $245,000 $325,000 32.7% 0.3%
    Raymond James Bank $565,000 $325,000 -42.5% 0.3%
    U.S. Bank $1,525,000 $325,000 -78.7% 0.3%
    ACADEMY MORTGAGE CORPORATION $295,000 $320,000 8.5% 0.3%
    DIRECTORS MORTGAGE, INC. $305,000 n/a 0.3%
    CALCON MUTUAL MORTGAGE LLC $295,000 n/a 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $775,000 $290,000 -62.6% 0.2%
    Stifel Bank and Trust $285,000 n/a 0.2%
    ROYAL UNITED MORTGAGE LLC $95,000 $270,000 184.2% 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $575,000 $260,000 -54.8% 0.2%
    Central National Bank $255,000 n/a 0.2%
    FIDELITY BANK $255,000 n/a 0.2%
    First New Mexico Bank, Las Cruces $275,000 $255,000 -7.3% 0.2%
    ZILLOW HOME LOANS, LLC $620,000 $245,000 -60.5% 0.2%
    NUSENDA $500,000 $240,000 -52.0% 0.2%
    American Airlines Federal Credit Union $375,000 $235,000 -37.3% 0.2%
    Kirtland Federal Credit Union $235,000 n/a 0.2%
    FINANCE OF AMERICA REVERSE LLC $135,000 $225,000 66.7% 0.2%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $295,000 $215,000 -27.1% 0.2%
    LRS FINANCIAL NETWORK, INC. $775,000 $215,000 -72.3% 0.2%
    Nations Lending Corporation $235,000 $215,000 -8.5% 0.2%
    Arvest Bank $205,000 n/a 0.2%
    BMO Harris Bank $205,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $590,000 $205,000 -65.3% 0.2%
    Texas Bank $205,000 n/a 0.2%
    Southwest Bank $255,000 $195,000 -23.5% 0.2%
    FirstBank Southwest $175,000 n/a 0.1%
    Citizens State Bank $165,000 n/a 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $420,000 $165,000 -60.7% 0.1%
    NFM, INC. $165,000 n/a 0.1%
    Northpointe Bank $165,000 n/a 0.1%
    MidFirst Bank $155,000 n/a 0.1%
    VAN DYK MORTGAGE CORPORATION $145,000 n/a 0.1%
    AMERISAVE MORTGAGE CORPORATION $1,050,000 $135,000 -87.1% 0.1%
    EL PASO AREA TEACHERS $135,000 n/a 0.1%
    LOANPEOPLE, LLC $135,000 n/a 0.1%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $125,000 n/a 0.1%
    GUARANTEED RATE, INC. $545,000 $125,000 -77.1% 0.1%
    PHH Mortgage Corporation $125,000 n/a 0.1%
    Bank of the Southwest $115,000 n/a 0.1%
    NEW DAY FINANCIAL, LLC $275,000 $115,000 -58.2% 0.1%
    Bank of America $960,000 $105,000 -89.1% 0.1%
    Pinnacle Bank $285,000 $105,000 -63.2% 0.1%
    Texas Community Bank $95,000 n/a 0.1%
    U.S. EAGLE $85,000 n/a 0.1%
    Discover Bank $305,000 $80,000 -73.8% 0.1%
    STATE EMPLOYEES $80,000 n/a 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $325,000 $65,000 -80.0% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $100,000 $65,000 -35.0% 0.1%
    GECU $740,000 $15,000 -98.0% 0.0%

    Ruidoso's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 16.0% market share. In second place, with 13.3%, is City Bank, having originated $16,250,000 in loans. In third place, with 6.7%, is Century Mortgage Company DBA Century Lending Company, having originated $8,150,000 in loans. In fourth place, with 4.8%, is QUICKEN LOANS, LLC, having originated $5,875,000 in loans. In fifth place, with 4.3%, is First American Bank, having originated $5,265,000 in loans.

    Ruidoso, NM Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 380 $101,950,000 $268,289
    Cash Out Refi 44 $8,960,000 $203,636
    Refi 26 $6,530,000 $251,154
    Other 15 $3,065,000 $204,333
    Home Improvement 14 $1,440,000 $102,857

    Ruidoso's most frequently cited loan purpose was Home Purchase, with 380 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 176 $47,110,000 $267,670
    7-8% 156 $41,590,000 $266,603
    Over 8% 81 $13,965,000 $172,407
    5-6% 44 $10,960,000 $249,091
    4-5% 2 $280,000 $140,000
    <2.5% 1 $5,000 $5,000
    3-4% 1 $155,000 $155,000

    During 2023, Ruidoso's most frequently originated rate bucket was 6-7%, with 176 originations.

    Loan Sizing (Ruidoso, NM MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 201 $55,545,000 $276,343
    $100k-200k 150 $23,300,000 $155,333
    $100,000 or less 63 $3,545,000 $56,270
    $400k-600k 43 $20,945,000 $487,093
    $600k-1000k 18 $12,250,000 $680,556
    $Over $1MM 4 $6,360,000 $1,590,000

    Ruidoso's loan sizing saw the bucket of loans from $200k-400k with 201 originations, totaling $55,545,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 196 $52,110,000 $265,867
    60-80% 139 $39,405,000 $283,489
    40-60% 57 $13,615,000 $238,860
    20-40% 35 $5,055,000 $144,429
    Under 20% 24 $1,040,000 $43,333
    Over 100% 8 $2,630,000 $328,750

    Ruidoso's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 196 originations, totaling $52,110,000 in origination value.