PlainLender
2024 data HMDA 2024 disclosure official source

San Miguel County

613 mortgage applications, 27.6% denial rate. Verify FIPS 35047 with U.S. Census Bureau →

PlainLender home → About this data

New Mexico · FIPS 35047

Local mortgage market. San Miguel County, New Mexico saw 613 HMDA-reported mortgage applications in 2024. Lenders originated 224 of those loans and denied 169, producing a denial rate of 27.6% and an approval (origination) rate of 36.5%. The average loan amount was $182,993 at an average note rate of 7.10%, with applicants self-reporting average annual income of $37K. 63 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 4.9x, meaning typical borrowers took on mortgages of about 4.9 times their annual income. That ratio is a rough affordability signal: higher multiples imply tighter monthly budgets and greater exposure to rate or income shocks. See our methodology for how to read the denial rate against a local applicant pool.

FIPS 35047 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

613
Applications
224
Originated
27.6%
Denial Rate
36.5%
Approval Rate
$182,993
Avg Loan Amount
7.10%
Avg Interest Rate
$37K
Avg Applicant Income
4.9x
Loan-to-Income Ratio

Nearby Lenders in San Miguel County

Top HMDA-reporting lenders active in this county. Compare any two side-by-side for rates, denial rates, and loan mix.

# Lender Originated Market Share
1 Rocket Mortgage 31 13.8%
2 Waterstone Mortgage Corporation 18 8.0%
3 State Employees Credit Union 17 7.6%
4 21st Mortgage 16 7.1%
5 Directors Mortgage, Inc. 11 4.9%
Compare Rocket Mortgage vs Waterstone Mortgage Corporation →

Frequently Asked Questions

How many mortgage applications were filed in San Miguel County?
In the 2024 HMDA reporting year, 613 mortgage applications were filed in San Miguel County, New Mexico. Of these, 224 were originated (approved and funded), while 169 were denied, resulting in a denial rate of 27.6%.
What is the mortgage denial rate in San Miguel County?
The mortgage denial rate in San Miguel County is 27.6%. The approval (origination) rate is 36.5%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in San Miguel County?
The average mortgage loan amount in San Miguel County is $182,993. The average interest rate is 7.103%. The average applicant income is $37K.
What is the loan-to-income ratio in San Miguel County?
The average loan-to-income ratio in San Miguel County is 4.9x, meaning borrowers took on loans averaging 4.9 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in San Miguel County?
The top mortgage lenders in San Miguel County by origination volume are Rocket Mortgage, Waterstone Mortgage Corporation, State Employees Credit Union. In total, 63 lenders reported mortgage activity in this county.
Where does this mortgage data come from?
This data comes from the CFPB HMDA 2024 Snapshot National Loan-Level Dataset, a mandatory federal disclosure dataset covering all mortgage applications filed with HMDA-reporting institutions. County boundaries are identified by FIPS codes.

Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. County FIPS codes per U.S. Census Bureau standards.

Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.