New Mexico VA Loan Rates, Closing Costs & Stats

New Mexico

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    New Mexico VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in New Mexico averaged 6.59% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    New Mexico's average VA mortgage closing costs are $6,691.

    The average rate for the prior week (2025-03-28) was 6.61% and one month ago for the week of 2025-02-28, the average rate was 6.29%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.89%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    New Mexico VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Mexico level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 638 6.33% $6,906
    UNITED WHOLESALE MORTGAGE, LLC 416 5.99% $7,667
    FREEDOM MORTGAGE CORPORATION 239 6.20% $9,697
    QUICKEN LOANS, LLC 205 6.13% $10,919
    NAVY FEDERAL CREDIT UNION 168 5.88% $6,421
    Waterstone Mortgage Corporation 138 6.39% $11,225
    USAA Federal Savings Bank 134 6.29% $8,557
    GUILD MORTGAGE COMPANY 114 6.48% $12,110
    PRIMARY RESIDENTIAL MORTGAGE, INC. 95 6.50% $9,915
    PENNYMAC LOAN SERVICES, LLC 93 5.74% $8,499
    DHI MORTGAGE COMPANY, LTD. 83 5.11% $7,810
    NEW DAY FINANCIAL, LLC 83 7.61% $13,123
    VILLAGE CAPITAL MORTGAGE 80 5.82% $7,390
    MID AMERICA MORTGAGE, INC. 76 6.27% $5,211
    LOANDEPOT.COM, LLC 74 6.06% $11,388
    MORTGAGE SOLUTIONS OF COLORADO, LLC 66 6.81% $6,211
    CMG MORTGAGE, INC. 59 6.27% $9,895
    CROSSCOUNTRY MORTGAGE, LLC 58 6.19% $9,389
    The Federal Savings Bank 52 6.34% $16,892
    Bell Bank 48 6.08% $6,501
    BOKF 48 6.28% $13,190
    PULTE MORTGAGE LLC 47 5.34% $11,015
    PRIMELENDING, A PLAINSCAPITAL COMPANY 38 6.33% $10,500
    NEWREZ LLC 37 5.85% $7,646
    NBKC BANK 37 5.88% $6,085
    BROKER SOLUTIONS, INC. 30 6.44% $9,523
    Mr. Cooper ( Nationstar Mortgage ) 30 6.02% $9,785
    DIRECTORS MORTGAGE, INC. 28 6.52% $10,458
    Century Mortgage Company DBA Century Lending Company 27 6.43% $6,665
    HOMETRUST MORTGAGE COMPANY 25 6.33% $11,655
    LAKEVIEW LOAN SERVICING, LLC 25 5.56% $8,359
    Barrington Bank & Trust Company, N.A. 25 6.32% $6,248
    GUARANTEED RATE, INC. 24 6.38% $6,893
    PLANET HOME LENDING, LLC 21 5.63% $5,907
    CLEARPATH LENDING 21 5.89% $7,087
    Citizens Bank of Las Cruces 21 6.55% $8,527
    HOMEBRIDGE FINANCIAL SERVICES, INC. 20 6.47% $8,064
    First Federal Bank 19 5.78% $8,263
    Gateway First Bank 19 6.54% $8,027
    Magnolia Bank 19 5.80% $14,997
    PENTAGON FEDERAL CREDIT UNION 19 5.76% $7,333
    Prosperity Home Mortgage, LLC 18 5.99% $8,957
    CALCON MUTUAL MORTGAGE LLC 18 6.32% $7,923
    Sunflower Bank 18 6.34% $10,136
    Rocky Mountain Mortgage Company 18 5.49% $6,305
    Armed Forces Bank 17 6.10% $7,157
    HOMEAMERICAN MORTGAGE CORPORATION 17 5.12% $4,249
    MOVEMENT MORTGAGE, LLC 17 6.36% $9,617
    Plains Commerce Bank 16 6.01% $8,536
    CORNERSTONE HOME LENDING, INC. 16 6.38% $8,325
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 16 6.47% $10,928
    NUSENDA 15 6.38% $6,823
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.29% $6,863
    MUTUAL OF OMAHA MORTGAGE, INC. 14 6.33% $16,415
    Equity Prime Mortgage LLC 13 6.63% $7,386
    SUN WEST MORTGAGE COMPANY, INC. 12 5.75% $14,235
    Sierra Pacific Mortgage Company, Inc. 11 6.02% $7,520
    V.I.P. MORTGAGE, INC. 11 6.52% $8,841
    CARDINAL FINANCIAL 11 6.40% $16,827
    Flagstar Bank, FSB 11 6.20% $7,460
    Nations Lending Corporation 10 6.63% $17,015
    JPMorgan Chase Bank 10 5.96% $9,878
    Commerce Home Mortgage, Inc. 9 6.47% $10,076
    Carrington Mortgage Services, LLC 9 5.72% $12,482
    JMAC LENDING, INC. 9 6.08% $9,252
    LOANPAL, LLC 9 5.85% $12,563
    HOMEOWNERS FINANCIAL GROUP USA, LLC 8 6.13% $9,767
    AMERISAVE MORTGAGE CORPORATION 8 5.81% $15,713
    SUN AMERICAN MORTGAGE COMPANY 8 6.38% $8,849
    UNION HOME MORTGAGE CORP. 7 6.54% $9,922
    SOUTHWEST FUNDING, LP 7 6.13% $9,801
    AMERICAN PACIFIC MORTGAGE CORPORATION 7 6.59% $11,525
    First American Bank 6 6.58% $7,945
    BAY EQUITY LLC 6 6.46% $4,789
    PLAZA HOME MORTGAGE, INC. 6 6.29% $9,627
    MORTGAGEONE, INC. 6 6.33% $8,145
    Kirtland Federal Credit Union 5 6.48% $9,668
    HOMESIDE FINANCIAL, LLC 5 6.80% $7,187
    MORIA DEVELOPMENT, INC. 5 6.45% $7,144
    GENEVA FINANCIAL, LLC 5 6.75% $4,819
    Paramount Residential Mortgage Group, Inc. 5 6.73% $11,837
    AMERICAN FINANCIAL RESOURCES, INC. 5 7.00% $8,939
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.28% $10,357
    AMERICAN FINANCIAL NETWORK, INC. 4 6.03% $6,916
    AMERICAN FINANCING CORPORATION 4 6.13% $10,083
    AmeriHome Mortgage Company, LLC 4 5.81% $10,501
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.03% $6,670
    ENVOY MORTGAGE, LTD 4 6.25% $12,796
    GARDNER FINANCIAL SERVICES, LTD. 4 6.53% $14,110
    GUARANTEED RATE AFFINITY, LLC 4 6.64% $5,531
    Mid-Continent Funding, Inc. 4 6.34% $8,440
    PREMIA MORTGAGE, LLC 4 5.72% $6,543
    Texana Bank 4 6.09% $5,935
    The Loan Store, Inc. 4 6.47% $6,869
    U.S. Bank 4 5.97% $7,184
    VAN DYK MORTGAGE CORPORATION 4 6.38% $11,307
    VERITAS FUNDING, LLC 4 6.44% $17,576
    POLARIS HOME FUNDING CORP. 3 6.75% $14,145
    Bank of America 3 6.08% $24,793
    Goldwater Bank, N.A. 3 7.38% $7,518
    DAS Acquisition Company, LLC 3 6.58% $7,600
    INTERCAP LENDING INC. 3 6.00% $5,676
    DIRECTIONS EQUITY, LLC 3 5.42% $9,513
    Wells Fargo Bank 3 6.13% $7,134
    Northpointe Bank 3 6.13% $6,814
    NOVA FINANCIAL & INVESTMENT CORPORATION 3 6.92% $8,559
    ALLIANT CREDIT UNION 3 6.00% $10,137
    FIRST COMMUNITY MORTGAGE, INC. 3 6.83% $9,291
    SUMMIT FUNDING, INC. 2 6.75% $13,873
    North American Savings Bank, F.S.B. 2 5.75% $6,663
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.69% $7,003
    Paramount Bank 2 6.00% $10,936
    PHH Mortgage Corporation 2 5.56% $4,751
    FirstLight Federal Credit Union 2 6.31% $6,966
    PNC Bank 2 6.50% $5,673
    FBC MORTGAGE, LLC 2 6.75% $8,094
    RANLIFE, INC. 2 6.25% $17,476
    S1L, Inc. 2 6.38% $14,528
    SECURITYNATIONAL MORTGAGE COMPANY 2 6.38% $17,534
    SIRVA MORTGAGE, INC. 2 6.56% $19,575
    SOUTHWEST STAGE FUNDING, LLC 2 5.88% $2,477
    LOANPEOPLE, LLC 2 6.50% $12,668
    The Central Trust Bank 2 6.06% $13,367
    TJC Mortgage, Inc. 2 6.00% $9,169
    MOUNTAIN AMERICA 2 5.50% $7,204
    MICHIGAN MUTUAL, INC. 2 6.81% $17,700
    Farmers Bank & Trust 1 6.13% $14,274
    EVERETT FINANCIAL, INC. 1 5.38% $5,797
    BETTER MORTGAGE CORPORATION 1 6.13% $14,732
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $9,148
    NP, Inc. 1 7.13% $7,345
    ROYAL UNITED MORTGAGE LLC 1 7.00% $21,735
    AMERICA FIRST 1 6.38% $5,916
    LEGEND LENDING CORPORATION 1 6.13% $24,409
    NFM, INC. 1 6.25% $13,343
    Zions Bank 1 6.63% $3,353
    Ixonia Bank 1 5.75% $4,153
    MORTGAGE ACCESS CORP. 1 5.25% $5,601
    M&T Bank 1 6.13% $6,738
    Cornerstone First Mortgage, Inc 1 5.75% $13,344
    Core Bank 1 5.50% $6,174
    City Bank 1 7.00% $3,277
    LADERA LENDING, INC. 1 6.63% $8,953
    TEXAS TECH 1 6.50% $10,152
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.63% $22,555
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $18,064
    Watermark Capital, Inc. 1 6.25% $4,488
    TIB The Independent Bankersbank 1 6.50% $1,515
    MEGASTAR FINANCIAL CORP. 1 6.25% $18,016
    Granite Community Bank 1 6.13% $301
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $9,200
    First Western Trust Bank 1 5.88% $21,612
    Truist 1 6.60% $9,938
    First National Bank Texas 1 5.88% $4,101
    CADENCE LENDING GROUP, INC. 1 5.75% $24,575
    First Horizon Bank 1 6.00% $15,312
    UNION SQUARE 1 6.25% $24,770
    Origin Bank 1 6.50% $12,744
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.25% $17,323
    Presidential Bank, FSB 1 6.25% $5,136
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $16,745
    FIDELITY BANK 1 7.25% $15,289
    BMO Harris Bank 1 6.50% $6,330

    The top New Mexico VA lender as defined by loan originations is Mortgage Research Center, LLC, with 638 VA loans originated. Their average total fees are $6,906, which is $761 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee New Mexico VA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($4,249), MID AMERICA MORTGAGE, INC. ($5,211), PLANET HOME LENDING, LLC ($5,907), NBKC BANK ($6,085) and MORTGAGE SOLUTIONS OF COLORADO, LLC ($6,211).

    The lowest rate New Mexico VA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.11%), HOMEAMERICAN MORTGAGE CORPORATION (5.12%), PULTE MORTGAGE LLC (5.34%), Rocky Mountain Mortgage Company (5.49%) and LAKEVIEW LOAN SERVICING, LLC (5.56%).

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.