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2024 data HMDA 2024 disclosure official source

Socorro County

339 mortgage applications, 28.0% denial rate. Verify FIPS 35053 with U.S. Census Bureau →

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New Mexico · FIPS 35053

Local mortgage market. Socorro County, New Mexico saw 339 HMDA-reported mortgage applications in 2024. Lenders originated 146 of those loans and denied 95, producing a denial rate of 28.0% and an approval (origination) rate of 43.1%. The average loan amount was $143,879 at an average note rate of 7.13%, with applicants self-reporting average annual income of $37K. 46 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 3.9x, meaning typical borrowers took on mortgages of about 3.9 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 35053 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

339
Applications
146
Originated
28.0%
Denial Rate
43.1%
Approval Rate
$143,879
Avg Loan Amount
7.13%
Avg Interest Rate
$37K
Avg Applicant Income
3.9x
Loan-to-Income Ratio

Nearby Lenders in Socorro 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 Nusenda Federal Credit Union 13 8.9%
2 Rocket Mortgage 11 7.5%
3 United Wholesale Mortgage 11 7.5%
4 21st Mortgage 9 6.2%
5 Cmg Mortgage INC 9 6.2%
Compare Nusenda Federal Credit Union vs Rocket Mortgage →

Frequently Asked Questions

How many mortgage applications were filed in Socorro County?
In the 2024 HMDA reporting year, 339 mortgage applications were filed in Socorro County, New Mexico. Of these, 146 were originated (approved and funded), while 95 were denied, resulting in a denial rate of 28.0%.
What is the mortgage denial rate in Socorro County?
The mortgage denial rate in Socorro County is 28.0%. The approval (origination) rate is 43.1%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Socorro County?
The average mortgage loan amount in Socorro County is $143,879. The average interest rate is 7.133%. The average applicant income is $37K.
What is the loan-to-income ratio in Socorro County?
The average loan-to-income ratio in Socorro County is 3.9x, meaning borrowers took on loans averaging 3.9 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Socorro County?
The top mortgage lenders in Socorro County by origination volume are Nusenda Federal Credit Union, Rocket Mortgage, United Wholesale Mortgage. In total, 46 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.