PlainLender
2024 data HMDA 2024 disclosure official source

Torrance County

726 mortgage applications, 32.0% denial rate. Verify FIPS 35057 with U.S. Census Bureau →

PlainLender home → About this data

New Mexico · FIPS 35057

Local mortgage market. Torrance County, New Mexico saw 726 HMDA-reported mortgage applications in 2024. Lenders originated 270 of those loans and denied 232, producing a denial rate of 32.0% and an approval (origination) rate of 37.2%. The average loan amount was $155,785 at an average note rate of 7.03%, with applicants self-reporting average annual income of $38K. 72 distinct institutions reported mortgage activity in this county.

Borrower leverage and affordability signal. The loan-to-income ratio averages 4.1x, meaning typical borrowers took on mortgages of about 4.1 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 35057 · CFPB HMDA 2024 Snapshot National Loan-Level Dataset. See our disclaimer before acting on this data.

726
Applications
270
Originated
32.0%
Denial Rate
37.2%
Approval Rate
$155,785
Avg Loan Amount
7.03%
Avg Interest Rate
$38K
Avg Applicant Income
4.1x
Loan-to-Income Ratio

Nearby Lenders in Torrance 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 Waterstone Mortgage Corporation 31 11.5%
2 Guild Mortgage Company 20 7.4%
3 21st Mortgage 19 7.0%
4 United Wholesale Mortgage 12 4.4%
5 Primary Residential Mortgage, INC. 11 4.1%
Compare Waterstone Mortgage Corporation vs Guild Mortgage Company →

Frequently Asked Questions

How many mortgage applications were filed in Torrance County?
In the 2024 HMDA reporting year, 726 mortgage applications were filed in Torrance County, New Mexico. Of these, 270 were originated (approved and funded), while 232 were denied, resulting in a denial rate of 32.0%.
What is the mortgage denial rate in Torrance County?
The mortgage denial rate in Torrance County is 32.0%. The approval (origination) rate is 37.2%, reflecting originated loans as a share of all applications.
What is the average mortgage loan amount in Torrance County?
The average mortgage loan amount in Torrance County is $155,785. The average interest rate is 7.032%. The average applicant income is $38K.
What is the loan-to-income ratio in Torrance County?
The average loan-to-income ratio in Torrance County is 4.1x, meaning borrowers took on loans averaging 4.1 times their annual income. This reflects average borrower profiles for mortgages processed in this county.
Who are the top mortgage lenders in Torrance County?
The top mortgage lenders in Torrance County by origination volume are Waterstone Mortgage Corporation, Guild Mortgage Company, 21st Mortgage. In total, 72 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.