First New Mexico Bank Las Cruces Mortgage Rates, Fees & Info

Las Cruces, NM

LEI: 549300ODHOF8ORD47F11

Tax ID: 26-1105824

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    First New Mexico Bank Las Cruces is a smaller bank specializing in Home Purchase and Refi loans. First New Mexico Bank Las Cruces has a high proportion of conventional loans. Their top markets by origination volume include: Las Cruces, Carlsbad, and Albuquerque among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First New Mexico Bank Las Cruces has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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    Originations

    40

    Origination Dollar Volume (All Markets)

    $10,280,000

    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
    LAS CRUCES, NM (FHA|USDA|VA) 36 $8,280,000 $230,000 $0 0.00%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 0.00%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Outside of Metro Areas 2 $70,000 $35,000 $0 0.00%
    First New Mexico Bank Las Cruces's top markets include Las Cruces, Carlsbad, and Albuquerque among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $9,690,000 $255,000 $0 0.00%
    VA 2 $590,000 $295,000 $0 0.00%

    For 2024, First New Mexico Bank Las Cruces's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $7,245,000 $268,333 $0 0.00%
    Refi 6 $2,080,000 $346,667 $0 0.00%
    Home Improvement 3 $125,000 $41,667 $0 0.00%
    Other 3 $665,000 $221,667 $0 0.00%
    Cash Out Refi 1 $165,000 $165,000 $0 0.00%

    For 2024, First New Mexico Bank Las Cruces's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $10,280,000 $257,000 $0 0.00%

    For 2024, First New Mexico Bank Las Cruces's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 17 $4,875,000 $286,765 $0 0.00%
    $100,000 or less 13 $555,000 $42,692 $0 0.00%
    $100k-200k 4 $600,000 $150,000 $0 0.00%
    $400k-600k 3 $1,225,000 $408,333 $0 0.00%
    $600k-1MM 2 $1,300,000 $650,000 $0 0.00%
    $1MM+ 1 $1,725,000 $1,725,000 $0 0.00%

    2024 saw First New Mexico Bank Las Cruces place emphasis on $200k-400k loans with 17 originations, totaling $4,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $2,235,000 $248,333 $0 0.00%
    $75k-100k 9 $1,935,000 $215,000 $0 0.00%
    $150k-250k 7 $2,075,000 $296,429 $0 0.00%
    $50k-75k 5 $345,000 $69,000 $0 0.00%
    $50k or less 5 $255,000 $51,000 $0 0.00%
    $250k+ 3 $1,505,000 $501,667 $0 0.00%

    First New Mexico Bank Las Cruces lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $10,280,000 $257,000 $0 0.00%

    First New Mexico Bank Las Cruces lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $5,655,000 $195,000 $0 0.00%
    Not applicable 2 $1,930,000 $965,000 $0 0.00%
    Not provided 6 $1,860,000 $310,000 $0 0.00%
    Black 1 $655,000 $655,000 $0 0.00%
    Asian 1 $165,000 $165,000 $0 0.00%
    American Indian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    59.09%

    First New Mexico Bank Las Cruces has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    72.50%

    First New Mexico Bank Las Cruces has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 40 $10,280,000 $257,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    40 $10,280,000 $257,000