Sandia Area Mortgage Rates, Fees & Info
Albuquerque, NMLEI: 549300L3IHIP0RH6IY76
Tax ID: 85-0128861
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Mortgage Data
Review & Overview
Sandia Area is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Sandia Area has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Albuquerque, Santa Fe, Dallas, Atlanta, and Silver City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Sandia Area 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.83% | 4/21/24 |
| 30 Year Conventional Refi | 6.59% | 4/21/24 |
| 30 Year Cash-out Refi | 6.85% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.98% | 4/21/24 |
| 15 Year Conventional Purchase | 5.90% | 4/21/24 |
| 15 Year Conventional Refi | 6.12% | 4/21/24 |
| 15 Year Cash-out Refi | 6.12% | 4/21/24 |
| 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. | ||
Sandia Area Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
370Origination Dollar Volume (All Markets)
$41,060,000Top 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 |
|---|---|---|---|---|---|
| ALBUQUERQUE, NM (FHA|USDA|VA) | 339 | $36,725,000 | $108,333 | $0 | 0.00% |
| SANTA FE, NM (FHA|USDA|VA) | 25 | $3,035,000 | $121,400 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Silver City, NM (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Grants, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against SANDIA AREA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 176
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 369 | $40,715,000 | $110,339 | $0 | 0.00% |
| FHA | 1 | $345,000 | $345,000 | $0 | 0.00% |
For 2023, Sandia Area's most frequently originated type of loan was Conventional, with 369 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2023, Sandia Area's most frequently cited loan purpose was Home Improvement, with 151 originations. The 2nd most popular reason was Other, with 124 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 370 | $41,060,000 | $110,973 | $0 | 0.00% |
For 2023, Sandia Area's most frequently cited loan duration was Other, with 370 originations.
Loan Sizing
2023 saw Sandia Area place emphasis on $100,000 or less loans with 265 originations, totaling $13,705,000 in origination value.
Applicant Income
Sandia Area lent most frequently to those with incomes in the $100k-150k range, with 114 originations. The second most popular income band? $150k-250k, with 84 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 370 | $41,060,000 | $110,973 | $0 | 0.00% |
Sandia Area lent most frequently to those with DTI ratios of Exempt%, with 370 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.90%
Sandia Area has a below average approval rate.
Pick Rate
Approvals leading to origination80.81%
Sandia Area has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 370 | $41,060,000 | $110,973 |