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

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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

    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% 4/28/24
    30 Year Cash-out Refi 6.27% 4/28/24
    15 Year Conventional Purchase 5.80% 4/28/24
    15 Year Conventional Refi 5.97% 4/28/24
    15 Year Cash-out Refi 5.97% 4/28/24
    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






    Your Estimates

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

    This is not an official calculator from New Mexico Bank & Trust. 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

    72

    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