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 and Home Purchase loans. Sandia Area has a high proportion of conventional loans. Sandia Area has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, Tucson, Las Cruces, and Dallas among others. We have data for 11 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% | 12/16/24 |
| 30 Year Conventional Refi | 6.59% | 12/16/24 |
| 30 Year Cash-out Refi | 6.85% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.98% | 12/16/24 |
| 15 Year Conventional Purchase | 5.90% | 12/16/24 |
| 15 Year Conventional Refi | 6.12% | 12/16/24 |
| 15 Year Cash-out Refi | 6.12% | 12/16/24 |
| 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
390Origination Dollar Volume (All Markets)
$67,470,000Awards
SANDIA AREA - 2021
SANDIA AREA is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 363 | $62,355,000 | $171,777 | $4,500 | 2.99% |
| SANTA FE, NM (FHA|USDA|VA) | 16 | $2,190,000 | $136,875 | $5,608 | 2.96% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,920 | 3.06% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,666 | 3.25% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,216 | 2.63% |
| Grants, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,747 | 3.00% |
| Roswell, NM (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,002 | 3.50% |
| Outside of Metro Areas | 2 | $140,000 | $70,000 | $3,229 | 3.13% |
| Deming, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,472 | 2.75% |
| Las Vegas, NM (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,376 | 2.88% |
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
For 2021, Sandia Area's most frequently originated type of loan was Conventional, with 208 originations. Their 2nd most popular type was Conventional, with 169 originations.
Loan Reason
For 2021, Sandia Area's most frequently cited loan purpose was Refi, with 222 originations. The 2nd most popular reason was Home Improvement, with 79 originations.
Loan Duration/Length
For 2021, Sandia Area's most frequently cited loan duration was Other, with 169 originations. The 2nd most popular length was 30 Year, with 122 originations.
Origination Fees/Closing Costs
Sandia Area's average total fees were $4,737, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 102 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 101 | $18,015,000 | $178,366 |
| 3-4% | 79 | $14,765,000 | $186,899 |
| <2.5% | 37 | $6,215,000 | $167,973 |
| 4-5% | 4 | $600,000 | $150,000 |
During 2021, Sandia Area's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 2.5-3%, with 101 originations.
Loan Sizing
2021 saw Sandia Area place emphasis on $100,000 or less loans with 151 originations, totaling $7,645,000 in origination value.
Applicant Income
Sandia Area lent most frequently to those with incomes in the $50k-75k range, with 89 originations. The second most popular income band? $100k-150k, with 82 originations.
Applicant Debt to Income Ratio
Sandia Area lent most frequently to those with DTI ratios of Exempt%, with 169 originations. The next most common DTI ratio? 20-30%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.73%
Sandia Area has an average approval rate.
Pick Rate
Approvals leading to origination64.87%
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 | 169 | $27,875,000 | $164,941 |
| NA | 221 | $39,595,000 | $179,163 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Sentrix Financial Services | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |