New Mexico Mortgage Lending
485 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 73,836 HMDA-reported mortgage applications in New Mexico in 2024, originating 36,442 loans and denying 13,459. That puts the statewide denial rate at 18.2% and the approval (origination) rate at 49.4%. The average loan amount across New Mexico was $232,263 at an average note rate of 6.95%. 485 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 33 counties and 5 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 56.6% and denial rate of 17.4%; while American Indian or Alaska Native applicants had an approval rate of 35.8% and denial rate of 35.0%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Bernalillo County, Sandoval County, Doña Ana County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in New Mexico
Top HMDA-reporting lenders active in New Mexico. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | ROCKET MORTGAGE | 2,492 | 6.8% |
| 2 | WATERSTONE MORTGAGE CORPORATION | 2,253 | 6.2% |
| 3 | GUILD MORTGAGE COMPANY | 2,245 | 6.2% |
| 4 | NUSENDA FEDERAL CREDIT UNION | 1,923 | 5.3% |
| 5 | United Wholesale Mortgage | 1,922 | 5.3% |
Lending by Race in New Mexico
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 46,276 | 56.6% | 17.4% |
| American Indian or Alaska Native | 2,554 | 35.8% | 35.0% |
| Joint | 1,768 | 61.0% | 13.6% |
| Asian | 1,486 | 52.3% | 18.6% |
| Black or African American | 1,292 | 51.5% | 22.4% |
| 2 or more minority races | 136 | 48.5% | 22.1% |
| Native Hawaiian or Other Pacific Islander | 133 | 50.4% | 27.8% |
Counties in New Mexico
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Bernalillo County | 24,793 | 13,390 | 15.5% | $231,938 |
| Sandoval County | 8,755 | 4,662 | 15.2% | $256,379 |
| Doña Ana County | 8,374 | 3,856 | 20.1% | $213,866 |
| Santa Fe County | 5,344 | 2,685 | 18.4% | $374,725 |
| Valencia County | 3,739 | 1,840 | 18.4% | $201,542 |
| San Juan County | 3,281 | 1,431 | 23.2% | $182,617 |
| Otero County | 2,197 | 1,037 | 17.4% | $186,479 |
| Eddy County | 2,159 | 975 | 18.7% | $230,461 |
| Lea County | 2,153 | 788 | 20.5% | $191,461 |
| Curry County | 1,581 | 857 | 13.5% | $176,828 |
| Chaves County | 1,541 | 778 | 16.8% | $164,818 |
| Lincoln County | 889 | 409 | 22.3% | $264,753 |
| Taos County | 887 | 397 | 21.6% | $275,259 |
| McKinley County | 819 | 221 | 41.5% | $133,999 |
| Los Alamos County | 793 | 492 | 10.6% | $371,885 |
| Rio Arriba County | 775 | 333 | 22.2% | $226,381 |
| Grant County | 728 | 334 | 18.3% | $166,662 |
| Torrance County | 726 | 270 | 32.0% | $155,785 |
| San Miguel County | 613 | 224 | 27.6% | $182,993 |
| Luna County | 539 | 226 | 24.9% | $130,640 |
| Colfax County | 500 | 235 | 22.2% | $263,000 |
| Roosevelt County | 428 | 226 | 16.8% | $138,692 |
| Sierra County | 412 | 175 | 19.7% | $150,316 |
| Cibola County | 402 | 157 | 35.1% | $136,095 |
| Socorro County | 339 | 146 | 28.0% | $143,879 |
| Quay County | 173 | 56 | 34.1% | $120,491 |
| Catron County | 116 | 38 | 20.7% | $173,103 |
| Guadalupe County | 89 | 34 | 39.3% | $171,067 |
| Union County | 84 | 35 | 25.0% | $122,500 |
| Mora County | 82 | 22 | 35.4% | $168,780 |
| Hidalgo County | 50 | 15 | 44.0% | $112,200 |
| De Baca County | 27 | 11 | 18.5% | $95,000 |
| Harding County | 5 | 1 | 0.0% | $189,000 |
Metro Areas in New Mexico
Frequently Asked Questions
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What is the mortgage denial rate in New Mexico?
What is the average mortgage loan amount in New Mexico?
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Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
