New Mexico
Mortgage Loan Application
Totals and Details
in 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 89,390
Total Mortgage Loan Application Amount $15,684,677,000
Average Mortgage Loan Application Amount $175,000
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $71,000
Highest Applicant Income $6,000,000
Download the New Mexico Lender List

Mortgage Loan Application Detail Totals for New Mexico in 2016

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
Refinancing 46,111 $8,508,530,000 $184,000 $99,999,000 $67,000 $6,000,000
Home Purchase 38,304 $6,786,817,000 $177,000 $99,999,000 $75,000 $4,218,000
Home Improvement 4,975 $389,330,000 $78,000 $24,672,000 $77,000 $3,853,000

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 39,626 $7,473,201,000 $188,000 $99,999,000 $86,000 $4,800,000
Hispanic 28,628 $4,139,135,000 $144,000 $99,999,000 $60,000 $3,984,000
Not Provided 9,332 $1,616,741,000 $173,000 $10,275,000 $76,000 $6,000,000
Not applicable 6,549 $1,562,028,000 $238,000 $45,750,000 $17,000 $2,600,000
American Indian or Alaskan Native 2,309 $271,366,000 $117,000 $962,000 $57,000 $1,046,000
Black or African American 1,355 $305,202,000 $225,000 $83,000,000 $63,000 $750,000
Asian 1,332 $274,118,000 $205,000 $1,460,000 $103,000 $2,400,000
Native Hawaiin or Other Pacific Islander 259 $42,886,000 $165,000 $656,000 $69,000 $1,723,000

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) 53,928 $9,342,337,000 $173,000 $99,999,000 $88,000 $4,800,000
FHA-insured (Federal Housing Administration) 20,505 $3,274,332,000 $159,000 $99,999,000 $42,000 $6,000,000
VA-guaranteed (Veterans Administration) 14,350 $2,982,372,000 $207,000 $1,085,000 $50,000 $2,040,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 607 $85,636,000 $141,000 $350,000 $40,000 $669,000

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 41,334 $7,553,555,000 $182,000 $33,819,000 $80,000 $3,853,000
Application Denied By Financial Institution 19,822 $3,100,653,000 $156,000 $99,999,000 $67,000 $4,218,000
Application Withdrawn By Applicant 11,484 $2,174,728,000 $189,000 $83,000,000 $77,000 $6,000,000
Loan Purchased By The Institution 8,918 $1,624,055,000 $182,000 $1,376,000 $35,000 $2,600,000
File Closed For Incompleteness 5,033 $732,802,000 $145,000 $1,421,000 $57,000 $4,800,000
Application Approved But Not Accepted 2,798 $498,688,000 $178,000 $4,800,000 $81,000 $2,590,000
Preapproval Denied by Financial Institution 1 $196,000 $196,000 $196,000 $51,000 $51,000
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0

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 2,498 $341,211,000 $136,000 $99,999,000 $65,000 $2,172,000
Debt-To-Income Ratio 2,169 $340,790,000 $157,000 $6,622,000 $55,000 $753,000
Collateral 1,682 $288,529,000 $171,000 $1,220,000 $87,000 $2,490,000
Credit Application Incomplete 1,355 $224,520,000 $165,000 $1,625,000 $73,000 $1,685,000
Other 1,053 $142,337,000 $135,000 $1,607,000 $66,000 $804,000
Unverifiable Information 411 $63,959,000 $155,000 $1,000,000 $93,000 $2,556,000
Insufficient Cash (Downpayment, Closing Cost) 241 $40,797,000 $169,000 $1,220,000 $82,000 $757,000
Employment History 132 $22,108,000 $167,000 $975,000 $63,000 $400,000
Mortgage Insurance Denied 5 $1,146,000 $229,000 $640,000 $134,000 $334,000
Download the New Mexico Lender List

Mortgage Loan Application Totals in 2016 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 47,051 $ 8,605,007,000 $ 182,000 $ 70,000
FARMINGTON, NM 4,069 $ 621,751,000 $ 152,000 $ 65,000
LAS CRUCES, NM 8,617 $ 1,351,257,000 $ 156,000 $ 64,000
SANTA FE, NM 7,526 $ 1,919,570,000 $ 255,000 $ 102,000
Download the New Mexico Lender List

Mortgage Loan Application Totals in 2016 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 33,726 $ 6,260,769,000 $ 185,000 $ 72,000
Catron 62 $ 7,450,000 $ 120,000 $ 82,000
Chaves 2,020 $ 257,311,000 $ 127,000 $ 61,000
Cibola 431 $ 40,145,000 $ 93,000 $ 55,000
Colfax 529 $ 81,815,000 $ 154,000 $ 94,000
Curry 1,794 $ 260,117,000 $ 144,000 $ 52,000
De Baca 25 $ 2,571,000 $ 102,000 $ 54,000
Dona Ana 8,672 $ 1,354,611,000 $ 156,000 $ 64,000
Eddy 2,396 $ 355,314,000 $ 148,000 $ 69,000
Grant 948 $ 127,227,000 $ 134,000 $ 65,000
Guadalupe 91 $ 8,659,000 $ 95,000 $ 52,000
Harding 10 $ 1,535,000 $ 153,000 $ 72,000
Hidalgo 92 $ 6,773,000 $ 73,000 $ 59,000
Lea 2,254 $ 315,953,000 $ 140,000 $ 61,000
Lincoln 1,140 $ 193,980,000 $ 170,000 $ 104,000
Los Alamos 970 $ 225,035,000 $ 231,000 $ 116,000
Luna 713 $ 68,233,000 $ 95,000 $ 51,000
McKinley 937 $ 102,776,000 $ 109,000 $ 60,000
Mora 112 $ 15,644,000 $ 139,000 $ 53,000
Otero 2,416 $ 338,140,000 $ 139,000 $ 54,000
Quay 137 $ 13,734,000 $ 100,000 $ 64,000
Rio Arriba 1,097 $ 150,182,000 $ 136,000 $ 60,000
Roosevelt 466 $ 60,931,000 $ 130,000 $ 57,000
San Juan 4,174 $ 629,718,000 $ 150,000 $ 65,000
San Miguel 835 $ 105,811,000 $ 126,000 $ 58,000
Sandoval 9,869 $ 1,877,351,000 $ 190,000 $ 67,000
Santa Fe 7,614 $ 1,928,057,000 $ 253,000 $ 101,000
Sierra 405 $ 46,413,000 $ 114,000 $ 65,000
Socorro 304 $ 33,732,000 $ 110,000 $ 63,000
Taos 1,255 $ 246,883,000 $ 196,000 $ 91,000
Torrance 493 $ 52,963,000 $ 107,000 $ 52,000
Union 97 $ 8,922,000 $ 91,000 $ 54,000
Valencia 3,099 $ 426,427,000 $ 137,000 $ 55,000
Download the New Mexico Lender List