Top Mortgage Lenders in the Hobbs, NM area

Which mortgage lender in the Hobbs, 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 Hobbs, 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 Hobbs, NM area is Paramount Residential Mortgage Group Inc, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.24%. This means that Paramount Residential Mortgage Group Inc provided a -0.24% lower interest rate for its customers than other lenders in Hobbs, NM for a similar set of borrowers. Paramount Residential Mortgage Group Inc has a market share of 7.9%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 24.2%. Quicken Loans is an average rate lender in this area, with a “Rate Difference” of +0.04% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Hobbs, 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 Hobbs, NM is Wells Fargo Bank. If you want to take out a loan that is above conforming limits (for example, above $510,400 in 2020), the cheapest Jumbo mortgage provider is Ark-La-Tex Financial Services. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Paramount Residential Mortgage Group Inc. The cheapest VA mortgage provider is Paramount Residential Mortgage Group Inc. To get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders by “Rate Rank” for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.24% 7.90%
Cherry Creek Mortgage Co Inc 2, -0.12% 5.75%
Wells Fargo Bank 3, -0.06% 7.90%
Geneva Financial 4, -0.05% 7.00%
Ark-La-Tex Financial Services 5, -0.04% 10.77%
Quicken Loans 6, 0.04% 24.24%
Southwest Funding LP 7, 0.06% 7.54%
HomeBridge Financial Services, Inc 8, 0.07% 23.34%
Bank 34 9, 0.18% 5.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.23% 10.11%
Cherry Creek Mortgage Co Inc 2, -0.12% 7.13%
Wells Fargo Bank 3, -0.06% 8.74%
Geneva Financial 4, -0.04% 8.51%
Ark-La-Tex Financial Services 5, -0.04% 12.41%
Quicken Loans 6, 0.05% 11.95%
Southwest Funding LP 7, 0.07% 8.97%
HomeBridge Financial Services, Inc 8, 0.08% 25.52%
Bank 34 9, 0.19% 6.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.03% 4.92%
Geneva Financial 2, -0.03% 1.64%
Cherry Creek Mortgage Co Inc 3, -0.02% 0.82%
Ark-La-Tex Financial Services 4, -0.01% 4.92%
Southwest Funding LP 5, -0.00% 2.46%
Quicken Loans 6, 0.00% 68.03%
HomeBridge Financial Services, Inc 7, 0.00% 15.57%
Bank 34 8, 0.02% 1.64%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.07% 17.92%
Ark-La-Tex Financial Services 2, -0.04% 12.50%
HomeBridge Financial Services, Inc 3, -0.03% 13.75%
Geneva Financial 4, -0.02% 5.83%
Cherry Creek Mortgage Co Inc 5, 0.00% 0.83%
Paramount Residential Mortgage Group Inc 6, 0.01% 0.83%
Bank 34 7, 0.03% 2.08%
Quicken Loans 8, 0.05% 39.58%
Southwest Funding LP 9, 0.05% 6.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.06% 23.57%
Ark-La-Tex Financial Services 2, -0.04% 15.92%
HomeBridge Financial Services, Inc 3, -0.01% 19.11%
Geneva Financial 4, -0.00% 7.64%
Cherry Creek Mortgage Co Inc 5, 0.02% 1.27%
Paramount Residential Mortgage Group Inc 6, 0.03% 1.27%
Bank 34 7, 0.05% 3.18%
Quicken Loans 8, 0.07% 19.75%
Southwest Funding LP 9, 0.08% 8.28%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
HomeBridge Financial Services, Inc 1, -0.04% 3.61%
Wells Fargo Bank 2, -0.03% 7.23%
Geneva Financial 3, -0.03% 2.41%
Southwest Funding LP 4, -0.01% 3.61%
Ark-La-Tex Financial Services 5, -0.01% 6.02%
Quicken Loans 6, 0.01% 77.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.27% 13.48%
Cherry Creek Mortgage Co Inc 2, -0.14% 9.57%
Geneva Financial 3, -0.08% 7.45%
Ark-La-Tex Financial Services 4, -0.06% 8.51%
Quicken Loans 5, 0.02% 11.35%
Southwest Funding LP 6, 0.06% 7.45%
HomeBridge Financial Services, Inc 7, 0.11% 32.98%
Bank 34 8, 0.21% 9.22%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.27% 15.08%
Cherry Creek Mortgage Co Inc 2, -0.14% 10.32%
Geneva Financial 3, -0.08% 8.33%
Ark-La-Tex Financial Services 4, -0.06% 9.52%
Quicken Loans 5, 0.04% 7.54%
Southwest Funding LP 6, 0.06% 8.33%
HomeBridge Financial Services, Inc 7, 0.12% 31.35%
Bank 34 8, 0.23% 9.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.03% 43.33%
Cherry Creek Mortgage Co Inc 2, -0.01% 3.33%
HomeBridge Financial Services, Inc 3, 0.03% 46.67%
Bank 34 4, 0.03% 6.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Ark-La-Tex Financial Services 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Ark-La-Tex Financial Services 1, 0.00% 100.00%
Insufficient data available.
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.06% 11.76%
Cherry Creek Mortgage Co Inc 2, -0.03% 8.82%
Wells Fargo Bank 3, -0.01% 2.94%
HomeBridge Financial Services, Inc 4, -0.00% 11.76%
Quicken Loans 5, -0.00% 23.53%
Geneva Financial 6, 0.00% 11.76%
Ark-La-Tex Financial Services 7, 0.00% 14.71%
Southwest Funding LP 8, 0.07% 14.71%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Paramount Residential Mortgage Group Inc 1, -0.06% 16.00%
Cherry Creek Mortgage Co Inc 2, -0.03% 12.00%
Quicken Loans 3, -0.01% 8.00%
Wells Fargo Bank 4, -0.01% 4.00%
Geneva Financial 5, -0.00% 16.00%
HomeBridge Financial Services, Inc 6, 0.00% 8.00%
Ark-La-Tex Financial Services 7, 0.01% 16.00%
Southwest Funding LP 8, 0.07% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Ark-La-Tex Financial Services 1, -0.02% 11.11%
HomeBridge Financial Services, Inc 2, -0.01% 22.22%
Quicken Loans 3, 0.01% 66.67%

* Data is compiled for the Hobbs, NM commuting zone area, which comprises of counties of Lea County, NM, Gaines County, TX, and Yoakum County, TX. This includes cities/towns/communities of Hobbs, NM as well as Seminole, TX, North Hobbs, NM, Lovington, NM, Denver City, TX, Tatum, NM, Eunice, NM, Plains, TX, Seagraves, TX, and Jal, NM. 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.

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