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 Refi loans. Sandia Area has a high proportion of conventional loans. Sandia Area has an average proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, Grants, Las Cruces, and Medford among others. We have data for 9 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. Sandia Area is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.83% | 9/22/24 |
| 30 Year Conventional Refi | 6.59% | 9/22/24 |
| 30 Year Cash-out Refi | 6.85% | 9/22/24 |
| 30 Year FHA Purchase | 6.27% | 9/22/24 |
| 30 Year VA Purchase | 6.98% | 9/22/24 |
| 15 Year Conventional Purchase | 5.90% | 9/22/24 |
| 15 Year Conventional Refi | 6.12% | 9/22/24 |
| 15 Year Cash-out Refi | 6.12% | 9/22/24 |
| 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
358Origination Dollar Volume (All Markets)
$54,690,000Top 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) | 338 | $51,280,000 | $151,716 | $4,907 | 3.11% |
| SANTA FE, NM (FHA|USDA|VA) | 10 | $1,590,000 | $159,000 | $7,277 | 3.20% |
| Outside of Metro Areas | 2 | $380,000 | $190,000 | $4,312 | 3.25% |
| Grants, NM (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $6,122 | 2.94% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $4,636 | 3.44% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,525 | 2.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,199 | 3.13% |
| Española, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,139 | 2.50% |
| Clovis, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,312 | 3.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 245 | $47,385,000 | $193,408 | $4,913 | 3.10% |
| Conventional | 109 | $6,455,000 | $59,220 | $0 | 0.00% |
| VA | 4 | $850,000 | $212,500 | $8,371 | 3.41% |
For 2020, Sandia Area's most frequently originated type of loan was Conventional, with 245 originations. Their 2nd most popular type was Conventional, with 109 originations.
Loan Reason
For 2020, Sandia Area's most frequently cited loan purpose was Refi, with 243 originations. The 2nd most popular reason was Home Purchase, with 44 originations.
Loan Duration/Length
For 2020, Sandia Area's most frequently cited loan duration was 30 Year, with 135 originations. The 2nd most popular length was Other, with 109 originations.
Origination Fees/Closing Costs
Sandia Area's average total fees were $5,291, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 99 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 117 | $24,075,000 | $205,769 |
| 2.5-3% | 93 | $17,925,000 | $192,742 |
| <2.5% | 31 | $4,875,000 | $157,258 |
| 4-5% | 8 | $1,360,000 | $170,000 |
During 2020, Sandia Area's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 3-4%, with 117 originations.
Loan Sizing
2020 saw Sandia Area place emphasis on $100k-200k loans with 132 originations, totaling $19,400,000 in origination value.
Applicant Income
Sandia Area lent most frequently to those with incomes in the $100k-150k range, with 99 originations. The second most popular income band? $50k-75k, with 90 originations.
Applicant Debt to Income Ratio
Sandia Area lent most frequently to those with DTI ratios of Exempt%, with 109 originations. The next most common DTI ratio? 20-30%, with 75 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.41%
Sandia Area has an average approval rate.
Pick Rate
Approvals leading to origination45.25%
Sandia Area 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 |
|---|---|---|---|
| Exempt | 109 | $6,455,000 | $59,220 |
| NA | 249 | $48,235,000 | $193,715 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 358 | $54,690,000 | $152,765 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUNTRUST BANKS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 4.3% |
| SUNTRUST BANKS, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 4.3% |
| SUNTRUST BANKS, INC. | Conventional home mortgage | Incorrect information on your report | 1 | 4.3% |
| SUNTRUST BANKS, INC. | Conventional home mortgage | Struggling to pay mortgage | 2 | 8.7% |
| SUNTRUST BANKS, INC. | Conventional home mortgage | Trouble during payment process | 11 | 47.8% |
| SUNTRUST BANKS, INC. | FHA mortgage | Closing on a mortgage | 1 | 4.3% |
| SUNTRUST BANKS, INC. | FHA mortgage | Incorrect information on your report | 1 | 4.3% |
| SUNTRUST BANKS, INC. | FHA mortgage | Struggling to pay mortgage | 1 | 4.3% |
| SUNTRUST BANKS, INC. | FHA mortgage | Trouble during payment process | 1 | 4.3% |
| SUNTRUST BANKS, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 8.7% |
| SUNTRUST BANKS, INC. | Other type of mortgage | Struggling to pay mortgage | 1 | 4.3% |