Rocky Mountain Mortgage Company Rates, Fees & Info
El Paso, TXLEI: 549300CEKZ808Q0WJL95
Tax ID: 74-2389400
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Mortgage Data
Review & Overview
Rocky Mountain Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Rocky Mountain Mortgage Company has an average proportion of conventional loans. Their top two markets are El Paso and Las Cruces .Rocky Mountain Mortgage Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Rocky Mountain Mortgage Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 5/25/25 |
| 30 Year Conventional Refi | 6.72% | 5/25/25 |
| 30 Year Cash-out Refi | 6.72% | 5/25/25 |
| 30 Year FHA Purchase | 6.59% | 5/25/25 |
| 30 Year FHA Refi | 7.33% | 5/25/25 |
| 30 Year VA Purchase | 5.97% | 5/25/25 |
| 30 Year VA Refi | 6.72% | 5/25/25 |
| 15 Year Conventional Purchase | 5.64% | 5/25/25 |
| 15 Year VA Purchase | 5.65% | 5/25/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Rocky Mountain Mortgage Company Mortgage Calculator
Your Estimates
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This is not an official calculator from Rocky Mountain Mortgage Company. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
524Origination Dollar Volume (All Markets)
$158,620,000Awards
Rocky Mountain Mortgage Company - 2024
Rocky Mountain Mortgage Company is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Rocky Mountain Mortgage Company's average 30 year fixed mortgage rate was
5.92%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.63%.
Relative Fees (Closing Costs)
Rocky Mountain Mortgage Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,110.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| EL PASO, TX (FHA|USDA|VA) | 445 | $131,375,000 | $295,225 | $6,055 | 5.96% |
| LAS CRUCES, NM (FHA|USDA|VA) | 73 | $25,665,000 | $351,575 | $6,214 | 5.71% |
| Outside of Metro Areas | 6 | $1,580,000 | $263,333 | $5,807 | 5.77% |
Similar Lenders
We use machine learning to identify the top lenders compared against Rocky Mountain Mortgage Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 263 | $78,295,000 | $297,700 | $6,905 | 5.86% |
| VA | 204 | $65,660,000 | $321,863 | $5,700 | 5.80% |
| Conventional | 57 | $14,665,000 | $257,281 | $3,321 | 6.60% |
For 2024, Rocky Mountain Mortgage Company's most frequently originated type of loan was FHA, with 263 originations. Their 2nd most popular type was VA, with 204 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 523 | $158,505,000 | $303,069 | $6,070 | 5.92% |
| Refi | 1 | $115,000 | $115,000 | $7,860 | 6.63% |
For 2024, Rocky Mountain Mortgage Company's most frequently cited loan purpose was Home Purchase, with 523 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 520 | $158,070,000 | $303,981 | $6,110 | 5.92% |
| 15 Year | 4 | $550,000 | $137,500 | $1,390 | 5.81% |
For 2024, Rocky Mountain Mortgage Company's most frequently cited loan duration was 30 Year, with 520 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Rocky Mountain Mortgage Company's average total fees were $6,110, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 242 | $75,560,000 | $312,231 |
| 6-7% | 195 | $56,865,000 | $291,615 |
| 4-5% | 63 | $19,485,000 | $309,286 |
| 7-8% | 21 | $6,285,000 | $299,286 |
| Over 8% | 3 | $425,000 | $141,667 |
During 2024, Rocky Mountain Mortgage Company's average interest rate for loans was 5.92%, while their most frequently originated rate bucket for loans was 5-6%, with 242 originations.
Loan Sizing
2024 saw Rocky Mountain Mortgage Company place emphasis on $200k-400k loans with 428 originations, totaling $126,500,000 in origination value.
Applicant Income
Rocky Mountain Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 193 originations. The second most popular income band? $75k-100k, with 142 originations.
Applicant Debt to Income Ratio
Rocky Mountain Mortgage Company lent most frequently to those with DTI ratios of 50-60%, with 169 originations. The next most common DTI ratio? 30-36%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.70%
Rocky Mountain Mortgage Company has a below average approval rate.
Pick Rate
Approvals leading to origination45.23%
Rocky Mountain Mortgage Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 524 | $158,620,000 | $302,710 |