AllMortgageDetail - Mortgage Application Details

New Mexico
Mortgage Loan Application
Totals and Details
in 2014

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Years 2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 70,736
Total Mortgage Loan Application Amount $11,271,350,000
Average Mortgage Loan Application Amount $159,000
Highest Mortgage Loan Application Amount $32,305,000
Average Applicant Income $73,000
Highest Applicant Income $9,999,000

Mortgage Loan Application Detail Totals for New Mexico in 2014

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Home Purchase 33,413 $5,627,336,000 $168,000 $32,305,000 $75,000 $5,466,000
Refinancing 32,056 $5,324,805,000 $166,000 $12,250,000 $71,000 $9,999,000
Home Improvement 5,267 $319,209,000 $60,000 $5,000,000 $74,000 $3,960,000

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 32,064 $5,641,188,000 $175,000 $12,250,000 $90,000 $9,999,000
Hispanic 23,057 $2,926,124,000 $126,000 $2,194,000 $61,000 $5,646,000
Not Provided 5,960 $960,296,000 $161,000 $2,295,000 $81,000 $4,939,000
Not applicable 5,273 $1,139,992,000 $216,000 $32,305,000 $16,000 $2,653,000
American Indian or Alaskan Native 2,183 $223,664,000 $102,000 $1,049,000 $54,000 $1,104,000
Asian 1,057 $200,538,000 $189,000 $1,460,000 $99,000 $1,001,000
Black or African American 962 $154,034,000 $160,000 $815,000 $71,000 $624,000
Native Hawaiin or Other Pacific Islander 180 $25,514,000 $141,000 $417,000 $81,000 $1,280,000

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 46,703 $7,396,593,000 $158,000 $32,305,000 $86,000 $9,999,000
FHA-insured (Federal Housing Administration) 13,926 $1,967,886,000 $141,000 $12,650,000 $44,000 $2,653,000
VA-guaranteed (Veterans Administration) 9,279 $1,791,979,000 $193,000 $919,000 $54,000 $1,156,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 828 $114,892,000 $138,000 $1,111,000 $38,000 $205,000

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 32,148 $5,517,572,000 $171,000 $32,305,000 $86,000 $9,999,000
Application Denied By Financial Institution 16,491 $2,139,301,000 $129,000 $11,616,000 $64,000 $3,960,000
Loan Purchased By The Institution 8,239 $1,380,885,000 $167,000 $1,425,000 $37,000 $2,653,000
Application Withdrawn By Applicant 7,291 $1,243,972,000 $170,000 $5,000,000 $79,000 $5,646,000
Application Approved But Not Accepted 3,592 $507,409,000 $141,000 $1,526,000 $75,000 $2,149,000
File Closed For Incompleteness 2,963 $479,796,000 $161,000 $4,100,000 $72,000 $1,705,000
Preapproval Denied by Financial Institution 10 $2,130,000 $213,000 $381,000 $69,000 $120,000
Preapproval Approved but not Accepted 2 $285,000 $142,000 $160,000 $54,000 $73,000

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Credit History 3,253 $294,552,000 $90,000 $2,300,000 $59,000 $1,800,000
Debt-To-Income Ratio 2,195 $326,787,000 $148,000 $3,483,000 $57,000 $3,960,000
Collateral 1,824 $278,205,000 $152,000 $4,000,000 $88,000 $2,311,000
Credit Application Incomplete 981 $163,592,000 $166,000 $1,800,000 $83,000 $3,900,000
Other 944 $129,649,000 $137,000 $5,450,000 $77,000 $1,800,000
Unverifiable Information 380 $53,237,000 $140,000 $1,200,000 $88,000 $3,612,000
Insufficient Cash (Downpayment, Closing Cost) 231 $35,397,000 $153,000 $985,000 $66,000 $413,000
Employment History 136 $21,158,000 $155,000 $640,000 $58,000 $252,000
Mortgage Insurance Denied 7 $1,533,000 $219,000 $409,000 $72,000 $135,000

Mortgage Loan Application Totals in 2014 by New Mexico Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
ALBUQUERQUE, NM 35,553 $ 5,760,124,000 $ 162,000 $ 71,000
FARMINGTON, NM 3,500 $ 528,910,000 $ 151,000 $ 71,000
LAS CRUCES, NM 6,507 $ 925,720,000 $ 142,000 $ 65,000
SANTA FE, NM 5,677 $ 1,437,796,000 $ 253,000 $ 108,000

Mortgage Loan Application Totals in 2014 by New Mexico County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Bernalillo 25,518 $ 4,198,635,000 $ 164,000 $ 73,000
Catron 61 $ 7,109,000 $ 116,000 $ 53,000
Chaves 1,484 $ 169,324,000 $ 114,000 $ 63,000
Cibola 330 $ 28,817,000 $ 87,000 $ 54,000
Colfax 478 $ 68,269,000 $ 142,000 $ 110,000
Curry 1,348 $ 199,505,000 $ 148,000 $ 64,000
De Baca 28 $ 3,083,000 $ 110,000 $ 81,000
Dona Ana 6,553 $ 931,590,000 $ 142,000 $ 65,000
Eddy 2,153 $ 291,450,000 $ 135,000 $ 71,000
Grant 758 $ 93,500,000 $ 123,000 $ 59,000
Guadalupe 69 $ 6,239,000 $ 90,000 $ 44,000
Harding 7 $ 452,000 $ 64,000 $ 83,000
Hidalgo 102 $ 7,059,000 $ 69,000 $ 66,000
Lea 2,016 $ 277,121,000 $ 137,000 $ 72,000
Lincoln 880 $ 151,075,000 $ 171,000 $ 121,000
Los Alamos 652 $ 142,355,000 $ 218,000 $ 115,000
Luna 704 $ 59,618,000 $ 84,000 $ 55,000
McKinley 845 $ 83,330,000 $ 98,000 $ 57,000
Mora 103 $ 10,972,000 $ 106,000 $ 65,000
Otero 1,886 $ 259,642,000 $ 137,000 $ 63,000
Quay 101 $ 11,019,000 $ 109,000 $ 66,000
Rio Arriba 964 $ 127,488,000 $ 132,000 $ 63,000
Roosevelt 419 $ 59,896,000 $ 142,000 $ 58,000
San Juan 3,649 $ 539,551,000 $ 147,000 $ 70,000
San Miguel 680 $ 93,917,000 $ 138,000 $ 65,000
Sandoval 7,054 $ 1,197,486,000 $ 169,000 $ 71,000
Santa Fe 5,742 $ 1,442,259,000 $ 251,000 $ 107,000
Sierra 316 $ 33,219,000 $ 105,000 $ 58,000
Socorro 314 $ 34,645,000 $ 110,000 $ 58,000
Taos 1,099 $ 192,323,000 $ 174,000 $ 92,000
Torrance 406 $ 39,606,000 $ 97,000 $ 50,000
Union 104 $ 22,238,000 $ 213,000 $ 150,000
Valencia 2,665 $ 333,582,000 $ 125,000 $ 54,000