First New Mexico Bank Las Cruces Mortgage Rates, Fees & Info
Las Cruces, NMLEI: 549300ODHOF8ORD47F11
Tax ID: 26-1105824
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Mortgage Data
Review & Overview
First New Mexico Bank Las Cruces is a smaller bank specializing in Home Purchase loans. First New Mexico Bank Las Cruces 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: Las Cruces, Dallas, El Paso, Phoenix, and Albuquerque among others. We have data for 9 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
97Origination Dollar Volume (All Markets)
$29,025,000Top 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 |
|---|---|---|---|---|---|
| LAS CRUCES, NM (FHA|USDA|VA) | 87 | $24,525,000 | $281,897 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $1,875,000 | $1,875,000 | $0 | 0.00% |
| EL PASO, TX (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| Silver City, NM (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Los Alamos, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $27,160,000 | $301,778 | $0 | 0.00% |
| VA | 4 | $1,620,000 | $405,000 | $0 | 0.00% |
| FHA | 3 | $245,000 | $81,667 | $0 | 0.00% |
For 2022, First New Mexico Bank Las Cruces's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was VA, with 4 originations.
Loan Reason
For 2022, First New Mexico Bank Las Cruces's most frequently cited loan purpose was Home Purchase, with 81 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 97 | $29,025,000 | $299,227 | $0 | 0.00% |
For 2022, First New Mexico Bank Las Cruces's most frequently cited loan duration was Other, with 97 originations.
Loan Sizing
2022 saw First New Mexico Bank Las Cruces place emphasis on $200k-400k loans with 44 originations, totaling $12,980,000 in origination value.
Applicant Income
First New Mexico Bank Las Cruces lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $150k-250k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 97 | $29,025,000 | $299,227 | $0 | 0.00% |
First New Mexico Bank Las Cruces lent most frequently to those with DTI ratios of Exempt%, with 97 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.31%
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 origination68.04%
First New Mexico Bank Las Cruces 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 | 97 | $29,025,000 | $299,227 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |