Top Mortgage Lenders in Clovis, NM

Which mortgage lender in the Clovis, NM area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Clovis, NM area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Clovis, NM area is Wells Fargo Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.05%. This means that Wells Fargo Bank provided a -0.05% lower interest rate for its customers than other lenders in Clovis, NM for a similar set of borrowers. Wells Fargo Bank has a market share of 6.1%. On the other hand, the most popular lender in the market is Primary Residential Mortgage Inc, with a market share of 40.5%. Primary Residential Mortgage Inc is an average rate lender in this area, with a “Rate Difference” of +0.00% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Clovis, NM area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, the cheapest lender for Conventional mortgages in Clovis, NM is Primary Residential Mortgage Inc. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Bell Bank. The cheapest VA mortgage provider is Wells Fargo Bank. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Ranking of Mortgage Lenders in Clovis, NM

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.05% 6.09%
Bell Bank 2, -0.05% 14.15%
Primary Residential Mortgage Inc 3, 0.00% 40.47%
Usaa Federal Savings Bank 4, 0.01% 14.54%
Quicken Loans 5, 0.01% 17.88%
Michigan Mutual Inc DBA MiMutual Mortgage 6, 0.08% 6.88%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.09% 5.67%
Bell Bank 2, -0.06% 16.75%
Quicken Loans 3, 0.01% 8.87%
Primary Residential Mortgage Inc 4, 0.01% 44.09%
Usaa Federal Savings Bank 5, 0.01% 17.00%
Michigan Mutual Inc DBA MiMutual Mortgage 6, 0.08% 7.64%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Primary Residential Mortgage Inc 1, -0.06% 26.21%
Usaa Federal Savings Bank 2, 0.01% 4.85%
Bell Bank 3, 0.01% 3.88%
Quicken Loans 4, 0.02% 53.40%
Michigan Mutual Inc DBA MiMutual Mortgage 5, 0.03% 3.88%
Wells Fargo Bank 6, 0.04% 7.77%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Primary Residential Mortgage Inc 1, -0.09% 36.92%
Bell Bank 2, -0.02% 15.89%
Wells Fargo Bank 3, 0.02% 13.55%
Usaa Federal Savings Bank 4, 0.06% 4.21%
Quicken Loans 5, 0.11% 25.23%
Michigan Mutual Inc DBA MiMutual Mortgage 6, 0.13% 4.21%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Primary Residential Mortgage Inc 1, -0.09% 41.43%
Bell Bank 2, -0.00% 21.43%
Wells Fargo Bank 3, 0.02% 15.00%
Usaa Federal Savings Bank 4, 0.09% 4.29%
Quicken Loans 5, 0.17% 12.86%
Michigan Mutual Inc DBA MiMutual Mortgage 6, 0.17% 5.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Primary Residential Mortgage Inc 1, -0.08% 28.38%
Usaa Federal Savings Bank 2, 0.00% 4.05%
Bell Bank 3, 0.02% 5.41%
Quicken Loans 4, 0.03% 48.65%
Michigan Mutual Inc DBA MiMutual Mortgage 5, 0.04% 2.70%
Wells Fargo Bank 6, 0.04% 10.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bell Bank 1, -0.09% 15.13%
Quicken Loans 2, -0.08% 23.53%
Primary Residential Mortgage Inc 3, 0.05% 47.06%
Michigan Mutual Inc DBA MiMutual Mortgage 4, 0.06% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.10% 15.69%
Bell Bank 2, -0.10% 17.65%
Primary Residential Mortgage Inc 3, 0.04% 51.96%
Michigan Mutual Inc DBA MiMutual Mortgage 4, 0.06% 14.71%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 70.59%
Michigan Mutual Inc DBA MiMutual Mortgage 2, 0.02% 11.76%
Primary Residential Mortgage Inc 3, 0.04% 17.65%
Insufficient data available.
Insufficient data available.
Insufficient data available.
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.05% 1.14%
Usaa Federal Savings Bank 2, -0.04% 36.93%
Bell Bank 3, -0.04% 11.36%
Quicken Loans 4, -0.02% 5.11%
Michigan Mutual Inc DBA MiMutual Mortgage 5, -0.02% 5.11%
Primary Residential Mortgage Inc 6, 0.06% 40.34%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.05% 1.22%
Usaa Federal Savings Bank 2, -0.05% 38.41%
Bell Bank 3, -0.04% 12.20%
Quicken Loans 4, -0.04% 1.22%
Michigan Mutual Inc DBA MiMutual Mortgage 5, -0.02% 5.49%
Primary Residential Mortgage Inc 6, 0.06% 41.46%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Primary Residential Mortgage Inc 1, -0.02% 25.00%
Usaa Federal Savings Bank 2, -0.01% 16.67%
Quicken Loans 3, 0.01% 58.33%

* Data is compiled for the Clovis, NM commuting zone area, which comprises of counties of Curry County, NM, Roosevelt County, NM, Bailey County, TX, Lamb County, TX, and Parmer County, TX. This includes cities/towns/communities of Clovis, NM as well as Portales, NM, Littlefield, TX, Muleshoe, TX, Elida, NM, Texico, NM, Bovina, TX, Friona, TX, Olton, TX, Melrose, NM, Earth, TX, and Sudan, TX. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

Mortgage Lender Rankings for Other Cities

This page ranks the top mortgage lenders in the Clovis, NM area. For mortgage lender rankings of other cities, click here.