Rocky Mountain Mortgage Company Rates, Fees & Info

El Paso, TX

LEI: 549300CEKZ808Q0WJL95

Tax ID: 74-2389400

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. They have a low ratio of USDA loans. Their top markets by origination volume include: El Paso, Las Cruces, Ruidoso, Midland, and Houston among others. We have data for 10 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 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.

    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% 12/3/24
    30 Year Conventional Refi 7.11% 12/3/24
    30 Year Cash-out Refi 7.39% 12/3/24
    30 Year FHA Purchase 7.36% 12/3/24
    30 Year FHA Refi 7.34% 12/3/24
    30 Year VA Purchase 6.37% 12/3/24
    30 Year VA Refi 6.27% 12/3/24
    15 Year Conventional Purchase 6.44% 12/3/24
    15 Year Conventional Refi 6.33% 12/3/24
    15 Year Cash-out Refi 6.33% 12/3/24
    15 Year VA Purchase 5.81% 12/3/24
    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

    667

    Origination Dollar Volume (All Markets)

    $123,885,000
    Show all (6) awards

    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) 596 $109,790,000 $184,211 $3,118 4.16%
    Outside of Metro Areas 61 $12,265,000 $201,066 $3,222 4.13%
    LAS CRUCES, NM (FHA|USDA|VA) 2 $390,000 $195,000 $2,374 4.69%
    Ruidoso, NM (FHA|USDA|VA) 1 $375,000 $375,000 $2,129 4.00%
    MIDLAND, TX (FHA|USDA|VA) 2 $330,000 $165,000 $3,871 4.63%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $305,000 $305,000 $12,836 4.46%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $165,000 $165,000 $1,050 4.00%
    LUBBOCK, TX (FHA|USDA|VA) 1 $105,000 $105,000 $2,874 3.88%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $85,000 $85,000 $3,430 5.88%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $75,000 $75,000 $3,672 5.63%
    Rocky Mountain Mortgage Company's top markets include El Paso, Las Cruces, Ruidoso, Midland, and Houston 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.

    GECU
    Similarity Rank: 72
    White Sands Federal Credit Union
    Similarity Rank: 72
    EVOLVE
    Similarity Rank: 91
    Pioneer Bank
    Similarity Rank: 234
    EL PASO AREA TEACHERS
    Similarity Rank: 270
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 346
    Citizens Bank of Las Cruces
    Similarity Rank: 432
    First American Bank
    Similarity Rank: 459
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 612
    Rocky Mountain Mortgage Company
    Similarity Rank: 620

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 256 $44,740,000 $174,766 $3,406 4.26%
    VA 217 $45,635,000 $210,300 $3,735 3.92%
    Conventional 190 $32,800,000 $172,632 $1,967 4.31%
    USDA 4 $710,000 $177,500 $1,992 4.31%

    For 2019, Rocky Mountain Mortgage Company's most frequently originated type of loan was FHA, with 256 originations. Their 2nd most popular type was VA, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 637 $120,385,000 $188,987 $3,094 4.16%
    Refi 16 $2,000,000 $125,000 $4,136 4.27%
    Cash Out Refi 14 $1,500,000 $107,143 $3,861 4.24%

    For 2019, Rocky Mountain Mortgage Company's most frequently cited loan purpose was Home Purchase, with 637 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 629 $118,945,000 $189,102 $3,148 4.18%
    15 Year 30 $3,820,000 $127,333 $2,954 3.75%
    20 Year 7 $935,000 $133,571 $3,097 4.48%
    Other 1 $185,000 $185,000 $3,320 5.75%

    For 2019, Rocky Mountain Mortgage Company's most frequently cited loan duration was 30 Year, with 629 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 236 $42,910,000 $181,822
    $1k-2k 39 $6,175,000 $158,333
    $2k-3k 13 $2,635,000 $202,692
    $3k-4k 5 $965,000 $193,000
    $4k-5k 1 $105,000 $105,000

    Rocky Mountain Mortgage Company's average total fees were $3,148, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 304 $54,980,000 $180,855
    3-4% 296 $57,290,000 $193,547
    5-6% 36 $5,190,000 $144,167
    2.5-3% 30 $6,280,000 $209,333

    During 2019, Rocky Mountain Mortgage Company's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 4-5%, with 304 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 408 $65,520,000 $160,588 $2,848 4.24%
    $200k-400k 228 $55,550,000 $243,640 $3,732 3.99%
    $100,000 or less 30 $2,400,000 $80,000 $2,717 4.39%
    $400k-600k 1 $415,000 $415,000 $4,743 4.38%

    2019 saw Rocky Mountain Mortgage Company place emphasis on $100k-200k loans with 408 originations, totaling $65,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 250 $43,370,000 $173,480 $3,009 4.14%
    $100k-150k 149 $31,645,000 $212,383 $3,084 4.11%
    $75k-100k 139 $26,925,000 $193,705 $3,485 4.17%
    $50k or less 97 $13,895,000 $143,247 $2,869 4.27%
    $150k-250k 28 $7,020,000 $250,714 $4,059 4.28%
    $250k+ 4 $1,030,000 $257,500 $2,237 4.15%

    Rocky Mountain Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 250 originations. The second most popular income band? $100k-150k, with 149 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 125 $23,715,000 $189,720 $2,910 4.14%
    20-30% 104 $18,640,000 $179,231 $2,861 4.18%
    50-60% 99 $19,155,000 $193,485 $3,652 4.06%
    <20% 47 $7,975,000 $169,681 $1,865 4.27%
    >60% 37 $7,325,000 $197,973 $4,383 4.08%
    49% 24 $4,360,000 $181,667 $3,663 4.17%
    44% 23 $4,465,000 $194,130 $3,583 4.11%
    38% 23 $4,545,000 $197,609 $4,000 4.19%
    40% 21 $3,545,000 $168,810 $2,407 4.32%
    36% 20 $3,760,000 $188,000 $3,650 4.14%
    45% 19 $3,655,000 $192,368 $3,386 4.25%
    39% 18 $3,010,000 $167,222 $2,980 4.33%
    37% 17 $3,055,000 $179,706 $2,719 4.35%
    47% 16 $3,030,000 $189,375 $2,810 4.20%
    48% 16 $3,050,000 $190,625 $2,920 4.16%
    46% 15 $2,505,000 $167,000 $2,973 4.14%
    43% 15 $2,955,000 $197,000 $2,922 3.90%
    42% 14 $2,660,000 $190,000 $2,817 4.23%
    41% 14 $2,480,000 $177,143 $3,245 4.44%

    Rocky Mountain Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 125 originations. The next most common DTI ratio? 20-30%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 607 $111,565,000 $183,797 $3,086 4.19%
    Black 43 $8,925,000 $207,558 $3,687 3.75%
    Asian 11 $2,265,000 $205,909 $3,748 4.02%
    Native Hawaiian or Islander 4 $830,000 $207,500 $5,597 4.06%
    Korean 2 $300,000 $150,000 $1,124 4.81%

    Approval Rates

    Total approvals of all applications
    73.10%

    Rocky Mountain Mortgage Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    27.44%

    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
    0.0 1 $165,000 $165,000
    NA 666 $123,720,000 $185,766

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 667 $123,885,000 $185,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $475,000 $95,000 $2,021 3.95%
    40-60% 9 $865,000 $96,111 $2,920 3.88%
    60-80% 47 $6,345,000 $135,000 $3,318 4.39%
    80-100% 534 $100,640,000 $188,464 $2,728 4.17%
    Over 100% 70 $15,220,000 $217,429 $6,026 4.01%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    ROCKY MOUNTAIN MORTGAGE COMPANY FHA mortgage Closing on a mortgage 1 100.0%