New Mexico Bank & Trust Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 549300TFPNF5ZPLD8I74

Tax ID: 85-0451580

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

Review & Overview

New Mexico Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. New Mexico Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, Los Alamos, Las Cruces, and Phoenix among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

New Mexico Bank & Trust 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. New Mexico Bank & Trust 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.

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

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	7.39%	11/22/24
30 Year Cash-out Refi	6.27%	11/22/24
15 Year Conventional Purchase	5.80%	11/22/24
15 Year Conventional Refi	5.97%	11/22/24
15 Year Cash-out Refi	5.97%	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.

New Mexico Bank & Trust Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$28,090,000

Employee count

156

Awards

New Mexico Bank & Trust 30 Year Conventional Loans gold

Show all (1) 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
ALBUQUERQUE, NM (FHA\|USDA\|VA)	37	$10,605,000	$286,622	$4,798	5.38%
SANTA FE, NM (FHA\|USDA\|VA)	17	$7,255,000	$426,765	$9,191	5.03%
Los Alamos, NM (FHA\|USDA\|VA)	4	$4,630,000	$1,157,500	$4,048	5.34%
LAS CRUCES, NM (FHA\|USDA\|VA)	1	$1,605,000	$1,605,000	$0	5.13%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$1,125,000	$1,125,000	$0	6.25%
Clovis, NM (FHA\|USDA\|VA)	6	$1,110,000	$185,000	$2,737	6.42%
Outside of Metro Areas	2	$700,000	$350,000	$6,286	4.88%
Rexburg, ID (FHA\|USDA\|VA)	1	$495,000	$495,000	$0	4.38%
Bozeman, MT (FHA\|USDA\|VA)	1	$405,000	$405,000	$6,747	4.38%
Taos, NM (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.63%
Portales, NM (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.75%

New Mexico Bank & Trust's top markets include Albuquerque, Santa Fe, Los Alamos, Las Cruces, and Phoenix among others.

Their top states include:

New Mexico (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Idaho (FHA|USDA|VA)

Montana (FHA|USDA|VA)

Similar Lenders

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

SANDIA LABORATORY
Similarity Rank: 28

Kirtland Federal Credit Union
Similarity Rank: 96

SANDIA AREA
Similarity Rank: 144

RIO GRANDE
Similarity Rank: 195

Del Norte Credit Union
Similarity Rank: 396

First Financial Credit Union
Similarity Rank: 820

New Mexico Bank & Trust
Similarity Rank: 869

NUSENDA
Similarity Rank: 960

CLEARPATH LENDING
Similarity Rank: 1932

LEGACY MORTGAGE LLC
Similarity Rank: 3894

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	72	$28,090,000	$390,139	$6,321	5.39%

For 2018, New Mexico Bank & Trust's most frequently originated type of loan was Conventional, with 72 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	41	$17,925,000	$437,195	$7,352	5.18%
Refi	28	$9,370,000	$334,643	$4,023	5.68%
Home Improvement	1	$55,000	$55,000	$515	6.01%
Other	1	$25,000	$25,000	$201	6.00%
Cash Out Refi	1	$715,000	$715,000	$10,850	4.38%

For 2018, New Mexico Bank & Trust's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 28 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	33	$15,175,000	$459,848	$7,754	4.64%
Other	14	$3,240,000	$231,429	$1,355	5.96%
10 Year	11	$5,735,000	$521,364	$492	5.65%
5 Year	8	$1,080,000	$135,000	$454	6.71%
1 Year	5	$2,815,000	$563,000	$3,329	6.05%
3 Year	1	$45,000	$45,000	$0	5.30%

For 2018, New Mexico Bank & Trust's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was Other, with 14 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	13	$3,955,000	$304,231
$5k+	11	$7,575,000	$688,636
$3k-4k	5	$1,855,000	$371,000
$1k-2k	3	$795,000	$265,000
$2k-3k	3	$595,000	$198,333
$4k-5k	1	$705,000	$705,000

New Mexico Bank & Trust's average total fees were $7,754, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	33	$11,375,000	$344,697
4-5%	29	$14,825,000	$511,207
6-7%	6	$1,530,000	$255,000
7-8%	2	$200,000	$100,000
Over 8%	2	$160,000	$80,000

During 2018, New Mexico Bank & Trust's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 5-6%, with 33 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	21	$1,145,000	$54,524	$886	6.27%
$200k-400k	15	$4,055,000	$270,333	$4,351	4.93%
$100k-200k	11	$1,595,000	$145,000	$3,015	5.72%
$600k-1MM	9	$6,395,000	$710,556	$10,836	4.46%
$1MM+	8	$10,820,000	$1,352,500	$12,724	5.22%
$400k-600k	8	$4,080,000	$510,000	$8,738	4.67%

2018 saw New Mexico Bank & Trust place emphasis on $100,000 or less loans with 21 originations, totaling $1,145,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	12	$3,060,000	$255,000	$5,540	5.05%
$250k+	11	$6,285,000	$571,364	$8,149	4.82%
$50k or less	10	$3,490,000	$349,000	$6,434	5.09%
$50k-75k	5	$1,215,000	$243,000	$4,803	5.05%
$75k-100k	5	$2,055,000	$411,000	$5,638	5.30%
$100k-150k	3	$1,565,000	$521,667	$7,237	4.46%

New Mexico Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $250k+, with 11 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	7	$1,395,000	$199,286	$2,590	5.16%
>60%	6	$3,860,000	$643,333	$11,201	4.40%
20-30%	6	$2,780,000	$463,333	$3,701	5.04%
<20%	5	$2,915,000	$583,000	$8,554	4.78%
50-60%	5	$1,545,000	$309,000	$7,221	4.65%
40%	3	$655,000	$218,333	$2,376	5.38%
43%	3	$1,515,000	$505,000	$9,003	4.92%
38%	2	$460,000	$230,000	$3,600	4.72%
41%	1	$225,000	$225,000	$5,228	5.25%
48%	1	$215,000	$215,000	$2,949	5.00%
36%	1	$555,000	$555,000	$11,828	4.38%

New Mexico Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? >60%, with 6 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	44	$17,380,000	$395,000	$6,857	5.09%
Not applicable	20	$7,800,000	$390,000	$0	5.99%
Not provided	6	$2,800,000	$466,667	$3,471	5.40%
American Indian	1	$55,000	$55,000	$731	6.50%
Samoan	1	$55,000	$55,000	$454	5.06%

Approval Rates

Total approvals of all applications
89.89%

New Mexico Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
88.89%

New Mexico Bank & Trust has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	72	$28,090,000	$390,139

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	3	$765,000	$255,000
Multifamily:Site-Built	8	$7,710,000	$963,750
Single Family (1-4 Units):Manufactured	9	$375,000	$41,667
Single Family (1-4 Units):Site-Built	52	$19,240,000	$370,000

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	8	$2,560,000	$320,000	$7,203	5.44%
40-60%	11	$3,775,000	$343,182	$5,441	5.58%
60-80%	35	$15,035,000	$429,571	$8,458	5.37%
80-100%	13	$6,295,000	$484,231	$5,496	4.88%
Under 20%	5	$425,000	$85,000	$392	6.31%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
New Mexico Bank & Trust	1475 Central Avenue Los Alamos, NM 87544	Full Service B&M	$46,028
New Mexico Bank & Trust	1549 Paseo De Peralta Santa Fe, NM 87501	Full Service B&M	$93,662
New Mexico Bank & Trust	1592 St. Michael's Drive Santa Fe, NM 87505	Full Service B&M	$151,761
New Mexico Bank & Trust	1612 East Spruce Street Portales, NM 88130	Full Service B&M	$18,654
New Mexico Bank & Trust	173-45 Us Highway 64 Tierra Amarilla, NM 87575	Full Service B&M	$31,351
New Mexico Bank & Trust	1810 Main Street Nw Los Lunas, NM 87031	Full Service B&M	$50,412
New Mexico Bank & Trust	2009 Ross Street Clovis, NM 88101	Full Service B&M	$0
New Mexico Bank & Trust	2300 Louisiana Boulevard Ne Albuquerque, NM 87110	Full Service B&M	$62,485
New Mexico Bank & Trust	320 Gold Street, S.W. Albuquerque, NM 87102	Full Service B&M	$234,502
New Mexico Bank & Trust	3701 4th Street, Nw Albuquerque, NM 87107	Full Service B&M	$36,459
New Mexico Bank & Trust	4001 Southern Blvd. S.E. Rio Rancho, NM 87124	Full Service B&M	$107,946
New Mexico Bank & Trust	411 Carr Lane Espanola, NM 87532	Full Service B&M	$40,596
New Mexico Bank & Trust	6201 Riverside Plaza Lane Nw, Albuquerque, NM 87120	Full Service B&M	$41,497
New Mexico Bank & Trust	7021 Jefferson Ne Albuquerque, NM 87109	Full Service B&M	$93,502
New Mexico Bank & Trust	709 Pile Street Clovis, NM 88101	Full Service B&M	$146,989
New Mexico Bank & Trust	7830 Enchanted Hills Blvd Rio Rancho, NM 87124	Full Service B&M	$24,734
New Mexico Bank & Trust	9500 Montgomery Boulevard Ne Albuquerque, NM 87111	Full Service B&M	$62,095

For 2018, New Mexico Bank & Trust had 17 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$60,897
Net interest income	$58,111
Total noninterest income	$12,899
Gross Fiduciary activities income	$2,032
Service charges on deposit accounts	$3,611
Trading account gains and fees	$0
Additional Noninterest Income	$7,256
Pre-tax net operating income	$33,892
Securities gains (or losses, -)	$600
Income before extraordinary items	$26,598
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$26,598
Minority interest net income	$0
Net income	$26,598
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$26,124

New Mexico Bank & Trust's gross interest income from loans was $60,897,000.
New Mexico Bank & Trust's net interest income from loans was $58,111,000.
New Mexico Bank & Trust's fee based income from loans was $3,611,000.
New Mexico Bank & Trust's net income from loans was $26,598,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,786
Provision for credit losses	$-311
Total noninterest expense	$37,429
Salaries and employee benefits	$13,093
Premises and equipment expense	$3,035
Additional noninterest expense	$21,301
Applicable income taxes	$7,894
Net charge-offs	$343
Cash dividends	$9,000

New Mexico Bank & Trust's interest expense for loans was $2,786,000.
New Mexico Bank & Trust's payroll and benefits expense were $13,093,000.
New Mexico Bank & Trust's property, plant and equipment expenses $3,035,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
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	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	2.0%
Credit card loans	0.7%
Other individual loans	2.0%
Auto loans	3.0%
Other consumer loans	2.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,307,464
Deposits held in domestic offices	$1,307,464
Deposits by Individuals, partnerships, and corporations	$1,235,480
Deposits by U.S. Government	$3
Deposits by States and political subdivisions in the U.S.	$71,981
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$216,510
Demand deposits	$100,168
Nontransaction accounts	$1,090,954
Money market deposit accounts (MMDAs)	$865,692
Other savings deposits (excluding MMDAs)	$114,890
Total time deposits	$110,372
Total time and savings deposits	$1,207,296
Noninterest-bearing deposits	$521,511
Interest-bearing deposits	$785,953
Retail deposits	$1,274,179
IRAs and Keogh plan accounts	$16,430
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,492,555
Cash & Balances due from depository institutions	$27,966
Interest-bearing balances	$4,722
Total securities	$345,055
Federal funds sold & reverse repurchase	$2,700
Net loans and leases	$1,050,395
Loan and leases loss allowance	$9,095
Trading account assets	$0
Bank premises and fixed assets	$23,441
Other real estate owned	$341
Goodwill and other intangibles	$11,233
All other assets	$31,424

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,492,555
Total Liabilities	$1,343,949
Total deposits	$1,307,464
Interest-bearing deposits	$785,953
Deposits held in domestic offices	$1,307,464
% insured (estimated)	$57
Federal funds purchased and repurchase agreements	$27,779
Trading liabilities	$0
Other borrowed funds	$2,487
Subordinated debt	$0
All other liabilities	$6,219

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,050,395
Loan and leases loss allowance	$9,095
Total loans and leases (domestic)	$1,059,490
All real estate loans	$704,495
Real estate loans in domestic offices	$704,495
Construction and development loans	$101,611
Residential 1-4 family construction	$23,509
Other construction, all land development and other land	$78,102
Loans secured by nonfarm nonresidential properties	$388,846
Nonfarm nonresidential secured by owner-occupied properties	$202,139
Commercial real estate & other non-farm, non-residential	$186,707
Multifamily residential real estate	$44,826
1-4 family residential loans	$149,759
Farmland loans	$19,453
Loans held in foreign offices	$0
Farm loans	$17,384
Commercial and industrial loans	$234,182
To non-U.S. addressees	$0
Loans to individuals	$8,281
Credit card loans	$768
Related Plans	$2,914
Consumer Auto Loans	$2,429
Other loans to individuals	$2,170
All other loans & leases	$95,148
Loans to foreign governments and official institutions	$0
Other loans	$775
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

New Mexico Bank & Trust had $1,050,395,000 of loans outstanding in 2018. $704,495,000 of loans were in real estate loans. $101,611,000 of loans were in development loans. $44,826,000 of loans were in multifamily mortgage loans. $149,759,000 of loans were in 1-4 family mortgage loans. $17,384,000 of loans were in farm loans. $768,000 of loans were in credit card loans. $2,429,000 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	458	$111,409	$243,251
Nonfarm, nonresidential loans - <$100k	89	$3,036	$34,112
Nonfarm, nonresidential loans - $100-250k	144	$18,862	$130,986
Nonfarm, nonresidential loans - $250k-1MM	225	$89,511	$397,827
Commercial & Industrial, US addressed loans - <$1MM	1,056	$70,716	$66,966
Commercial & Industrial, US addressed loans - <$100k	681	$13,073	$19,197
Commercial & Industrial, US addressed loans - $100-250k	191	$14,832	$77,654
Commercial & Industrial, US addressed loans - $250k-1MM	184	$42,811	$232,668
Farmland loans - <$1MM	42	$5,427	$129,214
Farmland loans - <$100k	13	$353	$27,154
Farmland loans - $100-250k	16	$1,175	$73,438
Farmland loans - $250k-1MM	13	$3,899	$299,923
Agriculture operations loans - <$1MM	69	$4,348	$63,014
Agriculture operations loans - <$100k	32	$665	$20,781
Agriculture operations loans - $100-250k	22	$1,357	$61,682
Agriculture operations loans - $250k-1MM	15	$2,326	$155,067