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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 a high proportion of conventional loans. Their top markets by origination volume include: El Paso, Ruidoso, Las Cruces, Stephenville, and Houston among others. We have data for 15 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% 4/18/24
    30 Year Conventional Refi 7.11% 4/18/24
    30 Year Cash-out Refi 7.39% 4/18/24
    30 Year FHA Purchase 7.36% 4/18/24
    30 Year FHA Refi 7.34% 4/18/24
    30 Year VA Purchase 6.37% 4/18/24
    30 Year VA Refi 6.27% 4/18/24
    15 Year Conventional Purchase 6.44% 4/18/24
    15 Year Conventional Refi 6.33% 4/18/24
    15 Year Cash-out Refi 6.33% 4/18/24
    15 Year VA Purchase 5.81% 4/18/24
    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

    1,110

    Origination Dollar Volume (All Markets)

    $213,660,000
    Show all (7) 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) 1,087 $207,905,000 $191,265 $3,398 3.12%
    Ruidoso, NM (FHA|USDA|VA) 2 $1,000,000 $500,000 $4,928 2.75%
    LAS CRUCES, NM (FHA|USDA|VA) 4 $900,000 $225,000 $3,283 2.78%
    Outside of Metro Areas 2 $530,000 $265,000 $2,415 2.94%
    Stephenville, TX (FHA|USDA|VA) 3 $515,000 $171,667 $4,345 2.71%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $465,000 $465,000 $10,410 2.88%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $465,000 $465,000 $8,579 2.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $390,000 $195,000 $7,130 2.63%
    Granbury, TX (FHA|USDA|VA) 2 $360,000 $180,000 $5,982 3.13%
    SANTA FE, NM (FHA|USDA|VA) 1 $305,000 $305,000 $7,804 2.50%
    MIDLAND, TX (FHA|USDA|VA) 1 $245,000 $245,000 $500 3.13%
    ODESSA, TX (FHA|USDA|VA) 1 $225,000 $225,000 $5,130 2.75%
    Deming, NM (FHA|USDA|VA) 1 $165,000 $165,000 $3,200 2.38%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $95,000 $95,000 $3,975 3.88%
    Alamogordo, NM (FHA|USDA|VA) 1 $95,000 $95,000 $284 2.88%
    Rocky Mountain Mortgage Company's top markets include El Paso, Ruidoso, Las Cruces, Stephenville, 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: 118
    EVOLVE
    Similarity Rank: 126
    EL PASO AREA TEACHERS
    Similarity Rank: 364
    White Sands Federal Credit Union
    Similarity Rank: 450
    Pioneer Bank
    Similarity Rank: 525
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 664
    First American Bank
    Similarity Rank: 684
    Citizens Bank of Las Cruces
    Similarity Rank: 1152
    Rocky Mountain Mortgage Company
    Similarity Rank: 1245
    FirstLight Federal Credit Union
    Similarity Rank: 1246

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 414 $74,780,000 $180,628 $3,856 3.18%
    Conventional 369 $66,905,000 $181,314 $2,806 3.05%
    VA 327 $71,975,000 $220,107 $3,532 3.10%

    For 2020, Rocky Mountain Mortgage Company's most frequently originated type of loan was FHA, with 414 originations. Their 2nd most popular type was Conventional, with 369 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 900 $179,000,000 $198,889 $3,264 3.14%
    Refi 187 $30,285,000 $161,952 $3,961 2.93%
    Cash Out Refi 23 $4,375,000 $190,217 $5,070 3.36%

    For 2020, Rocky Mountain Mortgage Company's most frequently cited loan purpose was Home Purchase, with 900 originations. The 2nd most popular reason was Refi, with 187 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 976 $194,350,000 $199,129 $3,365 3.16%
    15 Year 91 $13,495,000 $148,297 $3,799 2.60%
    20 Year 32 $4,570,000 $142,813 $3,922 3.16%
    10 Year 11 $1,245,000 $113,182 $3,942 2.69%

    For 2020, Rocky Mountain Mortgage Company's most frequently cited loan duration was 30 Year, with 976 originations. The 2nd most popular length was 15 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 919 $179,815,000 $195,664
    $1k-2k 81 $10,875,000 $134,259
    $2k-3k 72 $11,910,000 $165,417
    $3k-4k 24 $5,680,000 $236,667
    $5k+ 8 $3,280,000 $410,000
    $4k-5k 6 $2,100,000 $350,000

    Rocky Mountain Mortgage Company's average total fees were $3,365, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 919 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 594 $122,300,000 $205,892
    3-4% 391 $71,475,000 $182,801
    <2.5% 73 $12,015,000 $164,589
    4-5% 50 $7,690,000 $153,800
    5-6% 2 $180,000 $90,000

    During 2020, Rocky Mountain Mortgage Company's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 594 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 632 $101,910,000 $161,250 $3,106 3.14%
    $200k-400k 400 $100,070,000 $250,175 $3,928 3.06%
    $100,000 or less 65 $5,515,000 $84,846 $3,020 3.17%
    $400k-600k 13 $6,165,000 $474,231 $5,833 2.97%

    2020 saw Rocky Mountain Mortgage Company place emphasis on $100k-200k loans with 632 originations, totaling $101,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 388 $68,290,000 $176,005 $3,393 3.11%
    $75k-100k 238 $47,130,000 $198,025 $3,544 3.09%
    $100k-150k 212 $47,280,000 $223,019 $3,243 3.09%
    $50k or less 181 $27,705,000 $153,066 $3,288 3.23%
    $150k-250k 75 $19,115,000 $254,867 $3,828 2.98%
    $250k+ 13 $3,405,000 $261,923 $4,022 3.09%

    Rocky Mountain Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 388 originations. The second most popular income band? $75k-100k, with 238 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 201 $39,565,000 $196,841 $3,967 3.17%
    30-36% 172 $32,650,000 $189,826 $3,196 3.10%
    20-30% 145 $28,225,000 $194,655 $3,490 2.99%
    <20% 69 $11,585,000 $167,899 $2,150 3.08%
    39% 46 $8,170,000 $177,609 $3,258 3.12%
    45% 45 $8,765,000 $194,778 $3,291 3.13%
    47% 40 $8,020,000 $200,500 $4,318 3.06%
    43% 38 $7,300,000 $192,105 $3,051 3.16%
    44% 38 $7,580,000 $199,474 $3,357 3.13%
    48% 37 $7,115,000 $192,297 $3,424 3.08%
    42% 35 $7,125,000 $203,571 $3,044 3.16%
    41% 35 $7,095,000 $202,714 $3,157 3.10%
    36% 34 $6,460,000 $190,000 $3,772 3.07%
    49% 34 $6,590,000 $193,824 $3,012 3.10%
    40% 33 $6,185,000 $187,424 $3,353 3.18%
    37% 32 $5,920,000 $185,000 $3,408 3.31%
    46% 30 $5,470,000 $182,333 $3,727 3.17%
    38% 27 $5,315,000 $196,852 $3,433 3.05%
    >60% 19 $4,525,000 $238,158 $4,504 3.24%

    Rocky Mountain Mortgage Company lent most frequently to those with DTI ratios of 50-60%, with 201 originations. The next most common DTI ratio? 30-36%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 928 $175,970,000 $189,623 $3,403 3.12%
    Black 71 $15,625,000 $220,070 $3,392 3.11%
    Not provided 74 $13,900,000 $187,838 $3,267 3.01%
    Asian 22 $5,020,000 $228,182 $4,773 3.19%
    American Indian 10 $2,090,000 $209,000 $3,964 3.13%
    Native Hawaiian or Islander 5 $1,055,000 $211,000 $3,270 3.00%

    Approval Rates

    Total approvals of all applications
    75.47%

    Rocky Mountain Mortgage Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    30.81%

    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 1,110 $213,660,000 $192,486

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,110 $213,660,000 $192,486

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $975,000 $108,333 $3,306 2.56%
    40-60% 41 $5,125,000 $125,000 $3,339 2.85%
    60-80% 169 $28,015,000 $165,769 $3,223 3.12%
    80-100% 800 $159,140,000 $198,925 $3,119 3.14%
    Over 100% 91 $20,405,000 $224,231 $6,406 3.06%