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, Refi, and Cash Out Refi 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, Carlsbad, Ruidoso, and Hobbs among others. We have data for 15 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% 11/22/24
    30 Year Conventional Refi 7.41% 11/22/24
    30 Year Cash-out Refi 8.03% 11/22/24
    15 Year Conventional Purchase 8.57% 11/22/24
    15 Year Conventional Refi 5.68% 11/22/24
    15 Year Cash-out Refi 5.68% 11/22/24
    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.

    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

    186

    Origination Dollar Volume (All Markets)

    $30,280,000

    Employee count

    143 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) 56 $11,440,000 $204,286 $2,820 3.73%
    Roswell, NM (FHA|USDA|VA) 57 $6,925,000 $121,491 $2,882 4.02%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 19 $3,525,000 $185,526 $3,481 4.16%
    Ruidoso, NM (FHA|USDA|VA) 13 $2,345,000 $180,385 $3,158 3.90%
    Hobbs, NM (FHA|USDA|VA) 10 $1,760,000 $176,000 $3,671 3.95%
    Alamogordo, NM (FHA|USDA|VA) 18 $1,720,000 $95,556 $2,234 5.19%
    MIDLAND, TX (FHA|USDA|VA) 3 $705,000 $235,000 $3,771 3.67%
    Portales, NM (FHA|USDA|VA) 1 $545,000 $545,000 $0 4.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $365,000 $365,000 $4,376 5.13%
    EL PASO, TX (FHA|USDA|VA) 2 $330,000 $165,000 $3,572 5.69%
    ODESSA, TX (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.00%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $135,000 $135,000 $2,103 3.75%
    Clovis, NM (FHA|USDA|VA) 1 $135,000 $135,000 $2,391 4.50%
    Deming, NM (FHA|USDA|VA) 2 $90,000 $45,000 $2,120 2.19%
    LUBBOCK, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.00%
    Pioneer Bank's top markets include Las Cruces, Roswell, Carlsbad, Ruidoso, and Hobbs among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Texas (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: 450
    FirstLight Federal Credit Union
    Similarity Rank: 518
    Alpine Bank
    Similarity Rank: 924
    Pioneer Bank
    Similarity Rank: 930
    First American Bank
    Similarity Rank: 988
    Citizens Bank of Las Cruces
    Similarity Rank: 1152
    City Bank
    Similarity Rank: 1200
    ANB Bank
    Similarity Rank: 1364
    FirstBank
    Similarity Rank: 1534
    PREMIA MORTGAGE, LLC
    Similarity Rank: 1855

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $24,810,000 $161,104 $2,497 4.19%
    FHA 24 $3,710,000 $154,583 $4,986 3.44%
    VA 8 $1,760,000 $220,000 $4,779 3.33%

    For 2020, Pioneer Bank's most frequently originated type of loan was Conventional, with 154 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 106 $16,530,000 $155,943 $3,120 4.23%
    Refi 39 $6,765,000 $173,462 $2,593 3.53%
    Cash Out Refi 38 $6,530,000 $171,842 $3,019 4.12%
    Other 3 $455,000 $151,667 $2,362 3.88%

    For 2020, Pioneer Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $21,395,000 $176,818 $3,106 4.00%
    15 Year 41 $5,205,000 $126,951 $2,636 4.10%
    20 Year 13 $2,455,000 $188,846 $2,659 4.17%
    10 Year 9 $795,000 $88,333 $2,396 3.97%
    1 Year 1 $115,000 $115,000 $0 5.75%
    5 Year 1 $315,000 $315,000 $0 5.75%

    For 2020, Pioneer Bank's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 143 $22,215,000 $155,350
    $1k-2k 17 $3,185,000 $187,353
    $2k-3k 3 $845,000 $281,667
    $3k-4k 3 $1,185,000 $395,000

    Pioneer Bank's average total fees were $3,106, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 98 $18,240,000 $186,122
    4-5% 39 $7,425,000 $190,385
    5-6% 23 $1,565,000 $68,043
    2.5-3% 15 $2,525,000 $168,333
    6-7% 8 $510,000 $63,750
    <2.5% 3 $15,000 $5,000

    During 2020, Pioneer Bank's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 71 $10,315,000 $145,282 $2,893 3.82%
    $100,000 or less 58 $3,100,000 $53,448 $1,840 4.58%
    $200k-400k 50 $13,480,000 $269,600 $3,942 3.79%
    $400k-600k 7 $3,385,000 $483,571 $5,134 4.00%

    2020 saw Pioneer Bank place emphasis on $100k-200k loans with 71 originations, totaling $10,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 45 $4,125,000 $91,667 $2,179 4.02%
    $50k-75k 35 $4,585,000 $131,000 $3,368 3.79%
    $100k-150k 33 $7,065,000 $214,091 $2,961 3.75%
    $75k-100k 26 $4,660,000 $179,231 $3,270 3.78%
    $150k-250k 18 $4,450,000 $247,222 $4,035 3.97%
    $250k+ 4 $1,560,000 $390,000 $4,340 4.09%

    Pioneer Bank lent most frequently to those with incomes in the $50k or less range, with 45 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $5,480,000 $161,176 $2,615 3.83%
    30-36% 25 $4,765,000 $190,600 $3,225 3.79%
    <20% 18 $2,210,000 $122,778 $2,278 3.67%
    50-60% 10 $1,620,000 $162,000 $4,022 4.20%
    43% 10 $1,190,000 $119,000 $2,257 4.05%
    36% 9 $1,905,000 $211,667 $3,205 3.79%
    37% 9 $1,575,000 $175,000 $2,846 3.99%
    44% 8 $1,730,000 $216,250 $2,861 3.77%
    41% 8 $1,000,000 $125,000 $2,464 4.27%
    48% 7 $1,185,000 $169,286 $3,107 3.88%
    42% 5 $695,000 $139,000 $2,490 4.18%
    45% 5 $805,000 $161,000 $2,692 4.58%
    47% 5 $805,000 $161,000 $3,285 3.93%
    49% 4 $470,000 $117,500 $4,141 4.38%
    38% 4 $820,000 $205,000 $3,422 4.69%
    39% 3 $465,000 $155,000 $3,730 3.50%
    40% 3 $485,000 $161,667 $3,555 3.21%
    46% 3 $505,000 $168,333 $5,114 2.54%

    Pioneer Bank lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $24,705,000 $159,387 $2,982 3.86%
    Not applicable 16 $2,320,000 $145,000 $0 5.88%
    Not provided 10 $2,280,000 $228,000 $2,793 4.18%
    Asian 3 $665,000 $221,667 $3,222 4.33%
    Black 1 $205,000 $205,000 $2,819 3.63%
    American Indian 1 $105,000 $105,000 $1,551 3.63%

    Approval Rates

    Total approvals of all applications
    84.21%

    Pioneer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    62.90%

    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 186 $30,280,000 $162,796

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $650,000 $65,000
    Single Family (1-4 Units):Site-Built 176 $29,630,000 $168,352

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,280,000 $106,667 $2,586 3.67%
    40-60% 22 $2,890,000 $131,364 $2,520 3.79%
    60-80% 70 $13,110,000 $187,286 $2,870 4.13%
    80-100% 66 $12,710,000 $192,576 $3,957 4.01%
    Under 20% 16 $290,000 $18,125 $521 4.57%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Bank 2 St. Mary's Place Roswell, NM 88203 Full Service B&M $10,676
    Pioneer Bank 1020 10th St Alamogordo, NM 88310 Full Service B&M $46,494
    Pioneer Bank 1020 N Turner Hobbs, NM 88240 Full Service B&M $59,141
    Pioneer Bank 1095 Mechem Dr. Ruidoso, NM 88345 Full Service B&M $57,673
    Pioneer Bank 111 N. Canal Carlsbad, NM 88220 Full Service B&M $112,050
    Pioneer Bank 1600 West Joe Harvey Hobbs, NM 88240 Full Service B&M $11,691
    Pioneer Bank 2900 Roadrunner Parkway Las Cruces, NM 88011 Full Service B&M $17,264
    Pioneer Bank 300 South Sunset Avenue Roswell, NM 88203 Limited, Drive-thru $0
    Pioneer Bank 3000 North Main Street Roswell, NM 88201 Full Service B&M $193,006
    Pioneer Bank 306 North Pennsylvania Avenue Roswell, NM 88201 Full Service B&M $55,222
    Pioneer Bank 3831 East Lohman Ave Las Cruces, NM 88011 Full Service B&M $64,555
    Pioneer Bank 705 East University Avenue Las Cruces, NM 88001 Full Service B&M $23,216

    For 2020, Pioneer Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,868
    Net interest income $23,153
    Total noninterest income $9,262
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,707
    Trading account gains and fees $0
    Additional Noninterest Income $5,555
    Pre-tax net operating income $7,667
    Securities gains (or losses, -) $21
    Income before extraordinary items $7,688
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,688
    Minority interest net income $0
    Net income $7,688
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,667

    Pioneer Bank's gross interest income from loans was $24,868,000.
    Pioneer Bank's net interest income from loans was $23,153,000.
    Pioneer Bank's fee based income from loans was $3,707,000.
    Pioneer Bank's net income from loans was $7,688,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,715
    Provision for credit losses $1,856
    Total noninterest expense $22,892
    Salaries and employee benefits $10,647
    Premises and equipment expense $3,089
    Additional noninterest expense $9,156
    Applicable income taxes $0
    Net charge-offs $592
    Cash dividends $3,000

    Pioneer Bank's interest expense for loans was $1,715,000.
    Pioneer Bank's payroll and benefits expense were $10,647,000.
    Pioneer Bank's property, plant and equipment expenses $3,089,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 5.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 7.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 6.0%
    HELOC loans 0.0%
    All other family 6.0%
    Commercial & industrial loans 0.0%
    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 $669,051
    Deposits held in domestic offices $669,051
    Deposits by Individuals, partnerships, and corporations $581,691
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $86,856
    Deposits by Commercial banks and other depository institutions in U.S. $504
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $214,544
    Demand deposits $201,819
    Nontransaction accounts $454,507
    Money market deposit accounts (MMDAs) $107,105
    Other savings deposits (excluding MMDAs) $258,348
    Total time deposits $89,055
    Total time and savings deposits $467,232
    Noninterest-bearing deposits $177,991
    Interest-bearing deposits $491,060
    Retail deposits $646,490
    IRAs and Keogh plan accounts $12,626
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $861,653
    Cash & Balances due from depository institutions $129,621
    Interest-bearing balances $117,000
    Total securities $235,560
    Federal funds sold & reverse repurchase $1
    Net loans and leases $442,600
    Loan and leases loss allowance $5,631
    Trading account assets $0
    Bank premises and fixed assets $26,031
    Other real estate owned $0
    Goodwill and other intangibles $89
    All other assets $27,751

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $861,653
    Total Liabilities $773,513
    Total deposits $669,051
    Interest-bearing deposits $491,060
    Deposits held in domestic offices $669,051
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $91,363
    Subordinated debt $0
    All other liabilities $13,099

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $442,600
    Loan and leases loss allowance $5,631
    Total loans and leases (domestic) $448,231
    All real estate loans $346,554
    Real estate loans in domestic offices $346,554
    Construction and development loans $88,995
    Residential 1-4 family construction $42,465
    Other construction, all land development and other land $46,530
    Loans secured by nonfarm nonresidential properties $121,893
    Nonfarm nonresidential secured by owner-occupied properties $46,964
    Commercial real estate & other non-farm, non-residential $74,929
    Multifamily residential real estate $10,463
    1-4 family residential loans $125,203
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $90,909
    To non-U.S. addressees $0
    Loans to individuals $10,771
    Credit card loans $0
    Related Plans $21
    Consumer Auto Loans $3,142
    Other loans to individuals $7,608
    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 $473
    Non 1-4 family restructured loans & leases $473
    Total loans and leases (foreign) $0

    Pioneer Bank had $442,600,000 of loans outstanding in 2020. $346,554,000 of loans were in real estate loans. $88,995,000 of loans were in development loans. $10,463,000 of loans were in multifamily mortgage loans. $125,203,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,142,000 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 116 $33,174 $285,983
    Nonfarm, nonresidential loans - <$100k 19 $939 $49,421
    Nonfarm, nonresidential loans - $100-250k 43 $5,454 $126,837
    Nonfarm, nonresidential loans - $250k-1MM 54 $26,781 $495,944
    Commercial & Industrial, US addressed loans - <$1MM 656 $55,815 $85,084
    Commercial & Industrial, US addressed loans - <$100k 494 $12,762 $25,834
    Commercial & Industrial, US addressed loans - $100-250k 82 $10,483 $127,841
    Commercial & Industrial, US addressed loans - $250k-1MM 80 $32,570 $407,125