Rocky Mountain Mortgage Company Rates, Fees & Info

El Paso, TX

LEI: 549300CEKZ808Q0WJL95

Tax ID: 74-2389400

5 stars - Updated: 5/20/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 markets by origination volume include: El Paso, Las Cruces, and Ruidoso among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

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 an average 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.93% 5/20/24
30 Year Conventional Refi 7.11% 5/20/24
30 Year Cash-out Refi 7.39% 5/20/24
30 Year FHA Purchase 7.36% 5/20/24
30 Year FHA Refi 7.34% 5/20/24
30 Year VA Purchase 6.37% 5/20/24
30 Year VA Refi 6.27% 5/20/24
15 Year Conventional Purchase 6.44% 5/20/24
15 Year Conventional Refi 6.33% 5/20/24
15 Year Cash-out Refi 6.33% 5/20/24
15 Year VA Purchase 5.81% 5/20/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Rocky Mountain Mortgage Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

389

Origination Dollar Volume (All Markets)

$119,865,000
Show all (7) awards

Relative Rate

Rocky Mountain Mortgage Company's average 30 year fixed mortgage rate was 6.38%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.1%.

Relative Fees (Closing Costs)

Rocky Mountain Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $5,729.

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 $9,089.

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) 338 $101,550,000 $300,444 $5,702 6.38%
LAS CRUCES, NM (FHA|USDA|VA) 47 $17,205,000 $366,064 $6,024 6.32%
Outside of Metro Areas 3 $685,000 $228,333 $1,018 7.00%
Ruidoso, NM (FHA|USDA|VA) 1 $425,000 $425,000 $0 6.75%
Rocky Mountain Mortgage Company's top markets include El Paso, Las Cruces, and Ruidoso among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • 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.

    EVOLVE
    Similarity Rank: 18
    NUSENDA
    Similarity Rank: 108
    White Sands Federal Credit Union
    Similarity Rank: 117
    EL PASO AREA TEACHERS
    Similarity Rank: 132
    Rocky Mountain Mortgage Company
    Similarity Rank: 196
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 248
    SUN AMERICAN MORTGAGE COMPANY
    Similarity Rank: 252
    First American Bank
    Similarity Rank: 264
    Citizens Bank of Las Cruces
    Similarity Rank: 495
    FirstLight Federal Credit Union
    Similarity Rank: 568

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 174 $51,320,000 $294,943 $7,111 6.39%
    VA 139 $47,725,000 $343,345 $4,852 6.23%
    Conventional 76 $20,820,000 $273,947 $3,696 6.64%

    For 2023, Rocky Mountain Mortgage Company's most frequently originated type of loan was FHA, with 174 originations. Their 2nd most popular type was VA, with 139 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 389 $119,865,000 $308,136 $5,724 6.38%

    For 2023, Rocky Mountain Mortgage Company's most frequently cited loan purpose was Home Purchase, with 389 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 387 $119,155,000 $307,894 $5,729 6.38%
    15 Year 2 $710,000 $355,000 $4,787 6.50%

    For 2023, Rocky Mountain Mortgage Company's most frequently cited loan duration was 30 Year, with 387 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 131 $40,025,000 $305,534
    $1k-2k 56 $16,190,000 $289,107
    $2k-3k 31 $8,115,000 $261,774
    $3k-4k 24 $6,830,000 $284,583
    $5k+ 22 $7,130,000 $324,091
    $4k-5k 16 $4,420,000 $276,250

    Rocky Mountain Mortgage Company's average total fees were $5,729, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 131 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 212 $63,670,000 $300,330
    5-6% 110 $35,510,000 $322,818
    7-8% 49 $14,455,000 $295,000
    4-5% 10 $3,760,000 $376,000
    Over 8% 1 $195,000 $195,000

    During 2023, Rocky Mountain Mortgage Company's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 6-7%, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 272 $80,180,000 $294,779 $5,712 6.37%
    $400k-600k 73 $32,625,000 $446,918 $6,015 6.26%
    $100k-200k 40 $6,750,000 $168,750 $5,293 6.58%
    $100,000 or less 4 $310,000 $77,500 $5,445 6.91%

    2023 saw Rocky Mountain Mortgage Company place emphasis on $200k-400k loans with 272 originations, totaling $80,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 141 $47,965,000 $340,177 $6,095 6.34%
    $75k-100k 96 $27,420,000 $285,625 $5,440 6.45%
    $50k-75k 65 $14,915,000 $229,462 $5,700 6.43%
    $150k-250k 62 $23,040,000 $371,613 $5,897 6.28%
    $250k+ 13 $4,765,000 $366,538 $4,507 6.67%
    $50k or less 12 $1,760,000 $146,667 $4,230 6.21%

    Rocky Mountain Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $75k-100k, with 96 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 121 $39,455,000 $326,074 $6,736 6.30%
    30-36% 29 $8,775,000 $302,586 $5,310 6.51%
    47% 25 $7,555,000 $302,200 $4,760 6.30%
    48% 24 $6,790,000 $282,917 $6,057 6.28%
    46% 24 $6,700,000 $279,167 $5,374 6.64%
    20-30% 22 $7,050,000 $320,455 $5,151 6.22%
    42% 19 $5,495,000 $289,211 $4,515 6.23%
    49% 16 $4,610,000 $288,125 $5,471 6.46%
    44% 16 $4,640,000 $290,000 $5,161 6.54%
    43% 14 $4,210,000 $300,714 $5,988 6.33%
    38% 11 $3,495,000 $317,727 $3,855 6.21%
    39% 11 $2,815,000 $255,909 $4,536 6.63%
    41% 10 $3,450,000 $345,000 $6,803 6.47%
    45% 10 $3,220,000 $322,000 $4,849 6.56%
    40% 9 $3,035,000 $337,222 $5,503 6.33%
    <20% 8 $2,010,000 $251,250 $3,779 6.44%
    37% 5 $1,505,000 $301,000 $6,533 6.65%
    36% 4 $1,390,000 $347,500 $6,327 6.49%
    >60% 4 $1,390,000 $347,500 $4,058 6.75%

    Rocky Mountain Mortgage Company lent most frequently to those with DTI ratios of 50-60%, with 121 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 287 $87,745,000 $305,732 $5,985 6.40%
    Not provided 63 $19,105,000 $303,254 $4,793 6.44%
    Black 28 $9,940,000 $355,000 $4,951 6.08%
    Asian 7 $2,075,000 $296,429 $5,736 6.15%
    Native Hawaiian or Islander 2 $560,000 $280,000 $6,170 6.13%
    American Indian 2 $440,000 $220,000 $8,150 6.44%

    Approval Rates

    Total approvals of all applications
    80.67%

    Rocky Mountain Mortgage Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -25.71%

    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 389 $119,865,000 $308,136

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    389 $119,865,000 $308,136

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $440,000 $110,000 $3,319 7.15%
    40-60% 10 $1,820,000 $182,000 $3,884 6.34%
    60-80% 32 $8,120,000 $253,750 $3,606 6.59%
    80-100% 301 $95,715,000 $317,990 $5,389 6.36%
    Over 100% 35 $11,495,000 $328,429 $10,761 6.31%