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. Rocky Mountain Mortgage Company has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: El Paso, Las Cruces, Houston, Alamogordo, and Odessa 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% 11/17/24
    30 Year Conventional Refi 7.11% 11/17/24
    30 Year Cash-out Refi 7.39% 11/17/24
    30 Year FHA Purchase 7.36% 11/17/24
    30 Year FHA Refi 7.34% 11/17/24
    30 Year VA Purchase 6.37% 11/17/24
    30 Year VA Refi 6.27% 11/17/24
    15 Year Conventional Purchase 6.44% 11/17/24
    15 Year Conventional Refi 6.33% 11/17/24
    15 Year Cash-out Refi 6.33% 11/17/24
    15 Year VA Purchase 5.81% 11/17/24
    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

    1,013

    Origination Dollar Volume (All Markets)

    $214,515,000
    Show all (5) 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) 1,000 $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.

    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: 124
    EVOLVE
    Similarity Rank: 272
    EL PASO AREA TEACHERS
    Similarity Rank: 510
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 696
    Citizens Bank of Las Cruces
    Similarity Rank: 1024
    First American Bank
    Similarity Rank: 1054
    Rocky Mountain Mortgage Company
    Similarity Rank: 1290
    SECURITY SERVICE
    Similarity Rank: 1344
    FirstLight Federal Credit Union
    Similarity Rank: 1560
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Rocky Mountain Mortgage Company's most frequently originated type of loan was Conventional, with 370 originations. Their 2nd most popular type was FHA, with 362 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Rocky Mountain Mortgage Company's most frequently cited loan purpose was Home Purchase, with 845 originations. The 2nd most popular reason was 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 2021, Rocky Mountain Mortgage Company's most frequently cited loan duration was 30 Year, with 871 originations. The 2nd most popular length was 15 Year, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 34 $6,650,000 $195,588
    $4k-5k 10 $2,960,000 $296,000
    $5k+ 8 $2,190,000 $273,750

    Rocky Mountain Mortgage Company's average total fees were $3,849, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.17%, while their most frequently originated rate bucket for loans was 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 or Islander 7 $1,765,000 $252,143 $3,361 3.20%

    Approval Rates

    Total approvals of all applications
    82.22%

    Rocky Mountain Mortgage Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    2.86%

    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%