Sandia Area Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 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.

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 6.83% 12/3/24
30 Year Conventional Refi 6.59% 12/3/24
30 Year Cash-out Refi 6.85% 12/3/24
30 Year FHA Purchase 6.27% 12/3/24
30 Year VA Purchase 6.98% 12/3/24
15 Year Conventional Purchase 5.90% 12/3/24
15 Year Conventional Refi 6.12% 12/3/24
15 Year Cash-out Refi 6.12% 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.

Sandia Area Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Sandia Area. 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

370

Origination Dollar Volume (All Markets)

$41,060,000

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
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%
Sandia Area's top markets include Albuquerque, Santa Fe, Dallas, Atlanta, and Silver City among others.

Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • 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.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 176
    Del Norte Credit Union
    Similarity Rank: 231
    SANDIA LABORATORY
    Similarity Rank: 342
    Kirtland Federal Credit Union
    Similarity Rank: 558
    NUSENDA
    Similarity Rank: 702
    First Financial Credit Union
    Similarity Rank: 924
    Morgan Stanley Private Bank
    Similarity Rank: 2200
    PULTE MORTGAGE LLC
    Similarity Rank: 2769
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 3178
    SIRVA MORTGAGE, INC.
    Similarity Rank: 3968

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 151 $10,245,000 $67,848 $0 0.00%
    Other 124 $7,630,000 $61,532 $0 0.00%
    Refi 48 $4,130,000 $86,042 $0 0.00%
    Home Purchase 38 $17,330,000 $456,053 $0 0.00%
    Cash Out Refi 9 $1,725,000 $191,667 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 265 $13,705,000 $51,717 $0 0.00%
    $100k-200k 66 $8,650,000 $131,061 $0 0.00%
    $200k-400k 25 $6,795,000 $271,800 $0 0.00%
    $400k-600k 9 $4,335,000 $481,667 $0 0.00%
    $1MM+ 5 $7,575,000 $1,515,000 $0 0.00%

    2023 saw Sandia Area place emphasis on $100,000 or less loans with 265 originations, totaling $13,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 114 $10,580,000 $92,807 $0 0.00%
    $150k-250k 84 $8,380,000 $99,762 $0 0.00%
    $75k-100k 67 $4,965,000 $74,104 $0 0.00%
    $50k-75k 56 $4,170,000 $74,464 $0 0.00%
    $50k or less 25 $1,225,000 $49,000 $0 0.00%
    $250k+ 13 $1,445,000 $111,154 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 281 $25,135,000 $89,448 $0 0.00%
    Not applicable 9 $9,385,000 $1,042,778 $0 0.00%
    Not provided 59 $4,985,000 $84,492 $0 0.00%
    American Indian 8 $800,000 $100,000 $0 0.00%
    Black 6 $350,000 $58,333 $0 0.00%
    Asian 4 $140,000 $35,000 $0 0.00%
    Native Hawaiian or Islander 1 $105,000 $105,000 $0 0.00%
    Asian Indian 1 $105,000 $105,000 $0 0.00%
    Vietnamese 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    73.90%

    Sandia Area has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.81%

    Sandia Area has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 370 $41,060,000 $110,973

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    370 $41,060,000 $110,973