Rocky Mountain Mortgage Company Rates, Fees & Info

El Paso, TX

LEI: 549300CEKZ808Q0WJL95

Tax ID: 74-2389400

5 stars - out of 5 stars, based on 32 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Rocky Mountain Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Rocky Mountain Mortgage Company has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets include El Paso, Las Cruces, Houston, Alamogordo, and Odessa among others. Rocky Mountain Mortgage Company has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Rocky Mountain Mortgage Company is typically an average fee lendor.


Originations

1,013

Origination Dollar Volume (All Markets)

$214,515,000
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Relative Rate

Rocky Mountain Mortgage Company's average 30 year fixed rate mortgage of loans were 3.17%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.02%.

Relative Fees

Rocky Mountain Mortgage Company's average total fees for a 30 year fixed rate mortgage are $3,849.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
EL PASO, TX (FHA|USDA|VA) 1,000 $211,580,000 $211,580 $3,861 3.10%
LAS CRUCES, NM (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,463 2.97%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $425,000 $425,000 $868 2.75%
Alamogordo, NM (FHA|USDA|VA) 1 $385,000 $385,000 $5,975 2.99%
ODESSA, TX (FHA|USDA|VA) 2 $260,000 $130,000 $5,686 3.12%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $245,000 $245,000 $2,461 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,383 2.25%
Outside of Metro Areas 1 $165,000 $165,000 $0 0.00%
Plainview, TX (FHA|USDA|VA) 1 $115,000 $115,000 $3,380 2.50%
Roswell, NM (FHA|USDA|VA) 1 $75,000 $75,000 $1,465 3.00%

Rocky Mountain Mortgage Company's top markets include El Paso, Las Cruces, Houston, Alamogordo, and Odessa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 370 $70,390,000 $190,243 $2,928 3.04%
FHA 362 $73,630,000 $203,398 $4,550 3.15%
VA 281 $70,495,000 $250,872 $4,202 3.10%

For the 2021 period, Rocky Mountain Mortgage Company's most frequently originated loan type of loans were Conventional, with 370 originations. Their 2nd most popular type is FHA, with 362 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 845 $188,025,000 $222,515 $3,762 3.15%
Cash Out Refi 151 $24,035,000 $159,172 $4,338 2.86%
Refi 17 $2,455,000 $144,412 $4,654 2.75%

For the 2021, Rocky Mountain Mortgage Company's most frequently cited loan purpose of loans were Home Purchase, with 845 originations. The 2nd most popular reason of loans were Cash Out Refi, with 151 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 871 $193,025,000 $221,613 $3,849 3.17%
15 Year 101 $14,845,000 $146,980 $3,938 2.57%
20 Year 35 $5,655,000 $161,571 $3,904 2.92%
10 Year 6 $990,000 $165,000 $4,217 2.46%

For the 2021, Rocky Mountain Mortgage Company's most frequently cited loan length of loans were 30 Year, with 871 originations. The 2nd most popular length of loans were 15 Year, with 101 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 715 $157,195,000 $219,853
$1k-2k 103 $17,205,000 $167,039
$2k-3k 85 $14,345,000 $168,765
$3k-4k 44 $9,610,000 $218,409
$5k+ 8 $2,190,000 $273,750

$3,849 of loans were Rocky Mountain Mortgage Company's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 715 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 538 $115,700,000 $215,056
2.5-3% 388 $82,690,000 $213,119
<2.5% 78 $14,790,000 $189,615
4-5% 8 $1,170,000 $146,250

During 2021, Rocky Mountain Mortgage Company's average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 3-4%, with 538 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 529 $137,375,000 $259,688 $4,056 3.12%
$100k-200k 430 $70,490,000 $163,930 $3,551 3.10%
$100,000 or less 47 $3,725,000 $79,255 $3,763 2.90%
$400k-600k 7 $2,925,000 $417,857 $8,896 2.80%

2021 saw Rocky Mountain Mortgage Company place emphasis on $200k-400k loans with 529 originations, totaling $137,375,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 360 $70,580,000 $196,056 $3,749 3.12%
$75k-100k 257 $56,345,000 $219,241 $4,139 3.08%
$100k-150k 208 $51,210,000 $246,202 $3,678 3.09%
$50k or less 119 $18,775,000 $157,773 $3,562 3.15%
$150k-250k 63 $15,645,000 $248,333 $4,604 2.99%
$250k+ 6 $1,960,000 $326,667 $3,315 2.75%

Rocky Mountain Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 360 originations. The second most popular income band? $75k-100k, with 257 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 162 $33,120,000 $204,444 $3,599 3.06%
50-60% 142 $32,150,000 $226,408 $4,427 3.16%
20-30% 131 $26,255,000 $200,420 $3,592 2.99%
42% 48 $10,560,000 $220,000 $4,309 3.10%
<20% 46 $7,090,000 $154,130 $2,538 3.04%
43% 46 $9,500,000 $206,522 $3,573 3.10%
41% 45 $9,175,000 $203,889 $3,289 3.11%
49% 44 $9,970,000 $226,591 $4,072 3.05%
47% 42 $9,180,000 $218,571 $4,269 3.04%
39% 39 $8,735,000 $223,974 $3,182 3.20%
45% 38 $7,870,000 $207,105 $3,862 3.18%
36% 36 $8,130,000 $225,833 $4,489 3.22%
37% 35 $7,605,000 $217,286 $4,326 3.09%
40% 34 $7,840,000 $230,588 $4,226 3.18%
44% 33 $6,955,000 $210,758 $3,560 3.19%
38% 31 $6,625,000 $213,710 $3,771 3.01%
48% 28 $5,740,000 $205,000 $3,523 3.12%
46% 22 $5,180,000 $235,455 $5,212 3.16%
>60% 10 $2,670,000 $267,000 $5,640 3.13%

Rocky Mountain Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 162 originations. The next most common DTI ratio? 50-60%, with 142 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 819 $170,515,000 $208,199 $3,901 3.09%
Not provided 104 $22,760,000 $218,846 $3,434 3.15%
Black 48 $11,840,000 $246,667 $4,054 3.02%
Asian 22 $4,970,000 $225,909 $4,315 3.15%
American Indian 13 $2,665,000 $205,000 $3,686 3.12%
Native Hawaiian 7 $1,765,000 $252,143 $3,361 3.20%

Approval Rates

Total approvals of all applications
77.61%

Rocky Mountain Mortgage Company has a below average approval rate.

Pick Rate

Approvals leading to origination
24.11%

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 1,013 $214,515,000 $211,762

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,013 $214,515,000 $211,762

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 8 $770,000 $96,250 $3,884 2.59%
40-60% 41 $5,025,000 $122,561 $3,900 2.75%
60-80% 133 $22,195,000 $166,880 $3,466 2.96%
80-100% 731 $160,595,000 $219,692 $3,401 3.15%
Over 100% 98 $25,710,000 $262,347 $7,801 3.10%
Under 20% 1 $55,000 $55,000 $5,190 2.88%