Pioneer Bank Mortgage Rates, Fees & Info

Roswell, NM

LEI: 549300QOIO7RN6JTEI45

Tax ID: 85-0065555

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Pioneer Bank is a smaller bank specializing in Home Purchase loans. Pioneer Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Las Cruces, Roswell, Ruidoso, Carlsbad, and Hobbs among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Pioneer Bank 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. Pioneer Bank is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.82% 5/13/24
    30 Year Conventional Refi 7.41% 5/13/24
    30 Year Cash-out Refi 8.03% 5/13/24
    15 Year Conventional Purchase 8.57% 5/13/24
    15 Year Conventional Refi 5.68% 5/13/24
    15 Year Cash-out Refi 5.68% 5/13/24
    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.

    Pioneer Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Pioneer Bank. 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

    205

    Origination Dollar Volume (All Markets)

    $32,705,000

    Employee count

    158 Show all (5) awards

    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) 59 $12,385,000 $209,915 $2,942 4.51%
    Roswell, NM (FHA|USDA|VA) 64 $7,650,000 $119,531 $2,791 4.48%
    Ruidoso, NM (FHA|USDA|VA) 19 $3,375,000 $177,632 $3,411 4.53%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 28 $3,280,000 $117,143 $3,778 4.48%
    Hobbs, NM (FHA|USDA|VA) 17 $2,145,000 $126,176 $2,244 4.33%
    Glenwood Springs, CO (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,548 4.31%
    MIDLAND, TX (FHA|USDA|VA) 2 $670,000 $335,000 $3,745 4.88%
    ALBUQUERQUE, NM (FHA|USDA|VA) 3 $505,000 $168,333 $2,642 4.08%
    Alamogordo, NM (FHA|USDA|VA) 3 $475,000 $158,333 $2,831 4.13%
    LUBBOCK, TX (FHA|USDA|VA) 2 $400,000 $200,000 $3,415 4.75%
    ODESSA, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,165 4.50%
    FARMINGTON, NM (FHA|USDA|VA) 2 $160,000 $80,000 $2,460 4.94%
    EL PASO, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,108 5.13%
    Pioneer Bank's top markets include Las Cruces, Roswell, Ruidoso, Carlsbad, and Hobbs among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Pioneer Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    White Sands Federal Credit Union
    Similarity Rank: 72
    FirstLight Federal Credit Union
    Similarity Rank: 260
    Pioneer Bank
    Similarity Rank: 338
    Alpine Bank
    Similarity Rank: 405
    Citizens Bank of Las Cruces
    Similarity Rank: 432
    FirstBank
    Similarity Rank: 576
    First American Bank
    Similarity Rank: 621
    City Bank
    Similarity Rank: 930
    The Home Lending Group LLC
    Similarity Rank: 1218
    PREMIA MORTGAGE, LLC
    Similarity Rank: 1360

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 159 $25,035,000 $157,453 $2,451 4.50%
    FHA 35 $5,405,000 $154,429 $4,858 4.49%
    VA 11 $2,265,000 $205,909 $4,866 4.10%

    For 2019, Pioneer Bank's most frequently originated type of loan was Conventional, with 159 originations. Their 2nd most popular type was FHA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 147 $23,195,000 $157,789 $2,893 4.39%
    Cash Out Refi 32 $4,810,000 $150,313 $3,121 4.78%
    Refi 20 $3,380,000 $169,000 $3,489 4.53%
    Other 4 $1,150,000 $287,500 $4,760 4.44%
    Home Improvement 2 $170,000 $85,000 $2,064 5.69%

    For 2019, Pioneer Bank's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 142 $24,040,000 $169,296 $3,263 4.57%
    15 Year 32 $4,660,000 $145,625 $2,115 3.26%
    10 Year 13 $615,000 $47,308 $1,784 5.13%
    20 Year 10 $2,170,000 $217,000 $3,717 4.67%
    Other 5 $755,000 $151,000 $2,832 6.56%
    5 Year 2 $230,000 $115,000 $3,654 6.03%
    3 Year 1 $235,000 $235,000 $0 6.75%

    For 2019, Pioneer Bank's most frequently cited loan duration was 30 Year, with 142 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 159 $21,255,000 $133,679
    $1k-2k 26 $4,810,000 $185,000
    $2k-3k 9 $1,765,000 $196,111
    $3k-4k 2 $1,010,000 $505,000
    $4k-5k 1 $885,000 $885,000

    Pioneer Bank's average total fees were $3,263, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 159 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 101 $17,025,000 $168,564
    3-4% 48 $8,670,000 $180,625
    5-6% 37 $3,825,000 $103,378
    6-7% 10 $3,120,000 $312,000
    <2.5% 8 $40,000 $5,000
    7-8% 1 $25,000 $25,000

    During 2019, Pioneer Bank's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 4-5%, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 84 $11,990,000 $142,738 $3,139 4.54%
    $100,000 or less 67 $3,225,000 $48,134 $1,791 4.38%
    $200k-400k 46 $12,070,000 $262,391 $4,299 4.50%
    $400k-600k 5 $2,105,000 $421,000 $4,154 4.35%
    $600k-1MM 2 $1,560,000 $780,000 $7,837 4.56%
    $1MM+ 1 $1,755,000 $1,755,000 $0 6.45%

    2019 saw Pioneer Bank place emphasis on $100k-200k loans with 84 originations, totaling $11,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 63 $5,775,000 $91,667 $2,275 4.65%
    $50k-75k 58 $8,180,000 $141,034 $3,273 4.04%
    $100k-150k 33 $6,185,000 $187,424 $2,890 4.53%
    $75k-100k 20 $2,940,000 $147,000 $3,794 4.12%
    $150k-250k 11 $2,415,000 $219,545 $3,217 4.74%
    $250k+ 11 $3,695,000 $335,909 $4,427 5.06%

    Pioneer Bank lent most frequently to those with incomes in the $50k or less range, with 63 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $7,195,000 $159,889 $2,818 4.32%
    30-36% 37 $4,865,000 $131,486 $2,883 4.41%
    <20% 19 $3,675,000 $193,421 $3,402 4.82%
    43% 14 $2,580,000 $184,286 $2,963 4.02%
    37% 11 $1,175,000 $106,818 $3,074 4.80%
    40% 10 $1,840,000 $184,000 $3,170 4.78%
    39% 9 $1,325,000 $147,222 $2,698 3.96%
    50-60% 8 $830,000 $103,750 $2,855 4.72%
    38% 7 $645,000 $92,143 $1,714 4.09%
    42% 6 $820,000 $136,667 $3,433 4.85%
    44% 6 $1,140,000 $190,000 $4,237 4.27%
    48% 6 $450,000 $75,000 $2,955 3.60%
    41% 5 $945,000 $189,000 $3,494 4.33%
    36% 5 $835,000 $167,000 $3,736 4.30%
    46% 5 $655,000 $131,000 $2,667 4.73%
    45% 3 $315,000 $105,000 $3,220 4.88%
    49% 2 $290,000 $145,000 $2,636 5.45%
    >60% 1 $335,000 $335,000 $5,383 5.65%
    47% 1 $125,000 $125,000 $5,246 5.00%

    Pioneer Bank lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $26,495,000 $149,689 $3,052 4.47%
    Not provided 17 $2,845,000 $167,353 $2,859 4.35%
    Not applicable 5 $2,665,000 $533,000 $0 6.29%
    Black 4 $440,000 $110,000 $2,315 3.50%
    American Indian 1 $135,000 $135,000 $2,702 4.38%
    Asian 1 $125,000 $125,000 $1,980 4.25%

    Approval Rates

    Total approvals of all applications
    84.34%

    Pioneer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.39%

    Pioneer Bank 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
    NA 205 $32,705,000 $159,537

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,755,000 $1,755,000
    Single Family (1-4 Units):Manufactured 12 $1,090,000 $90,833
    Single Family (1-4 Units):Site-Built 192 $29,860,000 $155,521

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $550,000 $68,750 $2,443 4.67%
    40-60% 22 $2,550,000 $115,909 $2,645 4.79%
    60-80% 68 $15,050,000 $221,324 $3,287 4.66%
    80-100% 84 $14,380,000 $171,190 $3,673 4.43%
    Under 20% 23 $175,000 $7,609 $356 3.77%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Bank 1020 10th St Alamogordo, NM 88310 Full Service B&M $34,475
    Pioneer Bank 1020 N Turner Hobbs, NM 88240 Full Service B&M $53,513
    Pioneer Bank 1095 Mechem Dr. Ruidoso, NM 88345 Full Service B&M $50,374
    Pioneer Bank 111 N. Canal Carlsbad, NM 88220 Full Service B&M $83,141
    Pioneer Bank 1600 West Joe Harvey Hobbs, NM 88240 Full Service B&M $9,251
    Pioneer Bank 2 St. Mary's Place Roswell, NM 88203 Full Service B&M $8,441
    Pioneer Bank 2900 Roadrunner Parkway Las Cruces, NM 88011 Full Service B&M $13,181
    Pioneer Bank 3000 North Main Street Roswell, NM 88201 Full Service B&M $163,751
    Pioneer Bank 306 North Pennsylvania Avenue Roswell, NM 88201 Full Service B&M $56,822
    Pioneer Bank 3831 East Lohman Ave Las Cruces, NM 88011 Full Service B&M $52,196
    Pioneer Bank 705 East University Avenue Las Cruces, NM 88001 Full Service B&M $17,896

    For 2019, Pioneer Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,328
    Net interest income $21,625
    Total noninterest income $9,808
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,445
    Trading account gains and fees $0
    Additional Noninterest Income $5,363
    Pre-tax net operating income $7,921
    Securities gains (or losses, -) $27
    Income before extraordinary items $7,948
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,948
    Minority interest net income $0
    Net income $7,948
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,921

    Pioneer Bank's gross interest income from loans was $27,328,000.
    Pioneer Bank's net interest income from loans was $21,625,000.
    Pioneer Bank's fee based income from loans was $4,445,000.
    Pioneer Bank's net income from loans was $7,948,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,703
    Provision for credit losses $1,097
    Total noninterest expense $22,415
    Salaries and employee benefits $10,412
    Premises and equipment expense $3,191
    Additional noninterest expense $8,812
    Applicable income taxes $0
    Net charge-offs $821
    Cash dividends $3,000

    Pioneer Bank's interest expense for loans was $5,703,000.
    Pioneer Bank's payroll and benefits expense were $10,412,000.
    Pioneer Bank's property, plant and equipment expenses $3,191,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $572,697
    Deposits held in domestic offices $572,697
    Deposits by Individuals, partnerships, and corporations $497,210
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,863
    Deposits by Commercial banks and other depository institutions in U.S. $624
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $166,317
    Demand deposits $156,360
    Nontransaction accounts $406,380
    Money market deposit accounts (MMDAs) $99,811
    Other savings deposits (excluding MMDAs) $205,588
    Total time deposits $100,980
    Total time and savings deposits $416,337
    Noninterest-bearing deposits $134,824
    Interest-bearing deposits $437,873
    Retail deposits $549,886
    IRAs and Keogh plan accounts $13,161
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $812,885
    Cash & Balances due from depository institutions $32,507
    Interest-bearing balances $20,194
    Total securities $350,882
    Federal funds sold & reverse repurchase $1
    Net loans and leases $371,986
    Loan and leases loss allowance $4,367
    Trading account assets $0
    Bank premises and fixed assets $26,540
    Other real estate owned $0
    Goodwill and other intangibles $330
    All other assets $30,639

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $812,885
    Total Liabilities $733,066
    Total deposits $572,697
    Interest-bearing deposits $437,873
    Deposits held in domestic offices $572,697
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $146,509
    Subordinated debt $0
    All other liabilities $13,860

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $371,986
    Loan and leases loss allowance $4,367
    Total loans and leases (domestic) $376,353
    All real estate loans $326,606
    Real estate loans in domestic offices $326,606
    Construction and development loans $52,056
    Residential 1-4 family construction $34,971
    Other construction, all land development and other land $17,085
    Loans secured by nonfarm nonresidential properties $107,920
    Nonfarm nonresidential secured by owner-occupied properties $33,178
    Commercial real estate & other non-farm, non-residential $74,742
    Multifamily residential real estate $3,319
    1-4 family residential loans $163,311
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $33,911
    To non-U.S. addressees $0
    Loans to individuals $15,839
    Credit card loans $0
    Related Plans $28
    Consumer Auto Loans $2,722
    Other loans to individuals $13,089
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $559
    Non 1-4 family restructured loans & leases $559
    Total loans and leases (foreign) $0

    Pioneer Bank had $371,986,000 of loans outstanding in 2019. $326,606,000 of loans were in real estate loans. $52,056,000 of loans were in development loans. $3,319,000 of loans were in multifamily mortgage loans. $163,311,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,722,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 102 $25,961 $254,520
    Nonfarm, nonresidential loans - <$100k 17 $845 $49,706
    Nonfarm, nonresidential loans - $100-250k 40 $5,237 $130,925
    Nonfarm, nonresidential loans - $250k-1MM 45 $19,879 $441,756
    Commercial & Industrial, US addressed loans - <$1MM 185 $16,992 $91,849
    Commercial & Industrial, US addressed loans - <$100k 113 $2,750 $24,336
    Commercial & Industrial, US addressed loans - $100-250k 39 $3,765 $96,538
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $10,477 $317,485