Is Citizens Bank of Las Cruces a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Citizens Bank of Las Cruces with other lenders for comparable mortgages. Nationally, here is what we find:
|Interest Rate||lower than average (-0.13%)|
|Loan Related Closing Costs||lower than average (-$583)|
|National Rate and Closing Cost Rating||(4.5)|
On average, Citizens Bank of Las Cruces’s interest rates were lower than those of other lenders (-0.13%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$583. Overall, combining interest rates and closing costs we estimate that Citizens Bank of Las Cruces tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.
Citizens Bank of Las Cruces’s Rates by Area
Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Citizens Bank of Las Cruces was most active in:
You can click through to check out Citizens Bank of Las Cruces’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.
Citizens Bank of Las Cruces’s Rates by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Citizens Bank of Las Cruces originated Conforming, FHA, Jumbo and VA mortgages for new home purchases. It also originated Conforming, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.
|New Purchase Mortgages||Conforming||FHA||Jumbo||VA|
|Interest Rate Difference||-0.15%||-0.21%||-0.00%||+0.02%|
|Loan Related Closing Cost Difference||-$668||-$613||-$13||-$202|
|Cost Adjusted Rate Difference||-0.21%||-0.26%||-0.00%||+0.01%|
|Interest Rate Difference||-0.13%||+0.02%||+0.01%|
|Loan Related Closing Cost Difference||-$539||+$30||-$106|
|Cost Adjusted Rate Difference||-0.17%||+0.02%||+0.00%|
As a summary, Citizens Bank of Las Cruces is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for Jumbo and VA purchase mortgages. For refinancing mortgages, Citizens Bank of Las Cruces is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.
Other information about Citizens Bank of Las Cruces:
Registered city and state: LAS CRUCES, NM, 88001
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: AMADOR BANCSHARES, INC.
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Citizens Bank of Las Cruces’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.