We compare mortgage interest rate and loan related closing costs at Citizens Bank of Las Cruces with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.07%)
Loan Related Closing Costs: lower than average (-$630)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Citizens Bank of Las Cruces originated 675 mortgages, a national market share of 0.0%. It was most active in NM (1.9% market share), TX (0.0% market share), and VA (0.0% market share).
On average, Citizens Bank of Las Cruces’s interest rates were lower than those of comparable mortgages at other lenders (-0.07%).1The comparable mortgages control 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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3490, which was lower than those of comparable mortgages at $4119, with a difference of -$630. Overall, we estimate that Citizens Bank of Las Cruces tends to be an cheap lender, with a cost-adjusted-rate difference of -0.14% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Citizens Bank of Las Cruces.
Citizens Bank of Las Cruces originated Conforming, FHA and VA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Citizens Bank of Las Cruces compared to other lenders
|Interest Rate Difference||-0.04%||-0.20%||-0.05%|
|Loan related Closing Cost Difference||-$770||-$674||+$21|
|Cost Adjusted Rate Difference||-0.12%||-0.28%||-0.05%|
Based on the table above, Citizens Bank of Las Cruces is cheap for Conforming, FHA and VA purchase mortgages.
Other information about Citizens Bank of Las Cruces:
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: AMADOR BANCSHARES, INC.
Registered city and state: LAS CRUCES, NM, 88001