New Mexico
Mortgage Loan Application
Totals and Details
in 2018

Find mortgage statistics and mortgage data for New Mexico.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2018 in all of New Mexico.
You can organize this information by metropolitan area and by county.

Years 2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 78,014
Total Mortgage Loan Application Amount $14,122,910,000
Average Mortgage Loan Application Amount $181,000
Highest Mortgage Loan Application Amount $63,005,000
Average Applicant Income $87,000
Highest Applicant Income $8,891,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in New Mexico, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also be organized by various details about Mortgage Loan Applications for each year, with categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.

Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for New Mexico in 2018

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 44,134 $8,703,050,000 $197,000 $63,005,000 $89,000 $8,891,000
Cash-out Refinancing 13,579 $2,497,525,000 $183,000 $23,555,000 $79,000 $3,127,000
Refinancing 11,615 $2,153,075,000 $185,000 $43,225,000 $88,000 $3,585,000
Other Purpose 3,689 $299,205,000 $81,000 $2,285,000 $94,000 $5,496,000
Home Improvement 3,464 $253,410,000 $73,000 $3,105,000 $95,000 $2,406,000
Not Applicable 1,533 $216,645,000 $141,000 $5,245,000 $95,000 $343,000

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 33,599 $6,356,955,000 $189,000 $11,005,000 $98,000 $8,891,000
Hispanic 24,089 $3,405,095,000 $141,000 $1,745,000 $70,000 $2,856,000
Not Provided 8,668 $1,541,620,000 $177,000 $14,415,000 $92,000 $4,459,000
Not applicable 7,121 $2,070,225,000 $290,000 $63,005,000 $100,000 $6,000,000
American Indian or Alaskan Native 1,909 $252,565,000 $132,000 $1,005,000 $71,000 $2,205,000
Black or African American 1,202 $217,010,000 $180,000 $855,000 $83,000 $1,800,000
Asian 1,141 $228,565,000 $200,000 $2,005,000 $110,000 $1,296,000
Native Hawaiian or Other Pacific Islander 96 $17,180,000 $178,000 $585,000 $92,000 $1,200,000

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) 50,930 $9,161,950,000 $179,000 $63,005,000 $97,000 $8,891,000
FHA-insured (Federal Housing Administration) 15,571 $2,497,575,000 $160,000 $11,285,000 $60,000 $2,205,000
VA-guaranteed (Veterans Administration) 10,932 $2,378,390,000 $217,000 $1,775,000 $79,000 $3,127,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 581 $84,995,000 $146,000 $1,235,000 $52,000 $150,000

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 38,461 $7,522,295,000 $195,000 $63,005,000 $91,000 $6,706,000
Application Denied By Financial Institution 14,945 $2,094,365,000 $140,000 $20,005,000 $72,000 $4,466,000
Application Withdrawn By Applicant 10,516 $1,933,540,000 $183,000 $9,655,000 $92,000 $8,891,000
Loan Purchased By The Institution 9,060 $1,753,850,000 $193,000 $1,455,000 $101,000 $6,000,000
File Closed For Incompleteness 3,507 $547,545,000 $156,000 $2,005,000 $87,000 $3,127,000
Application Approved But Not Accepted 1,500 $266,870,000 $177,000 $5,205,000 $90,000 $1,149,000
Preapproval Denied by Financial Institution 16 $2,490,000 $155,000 $285,000 $82,000 $210,000
Preapproval Approved but not Accepted 9 $1,955,000 $217,000 $405,000 $101,000 $195,000

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
Not applicable 61,521 $11,830,905,000 $192,000 $63,005,000 $91,000 $8,891,000
Debt-To-Income Ratio 5,295 $756,205,000 $142,000 $11,005,000 $66,000 $2,225,000
Credit History 4,118 $469,800,000 $114,000 $20,005,000 $74,000 $4,466,000
Collateral 2,680 $387,480,000 $144,000 $2,005,000 $87,000 $1,800,000
Credit Application Incomplete 1,678 $304,760,000 $181,000 $4,005,000 $78,000 $1,919,000
Other 1,505 $202,805,000 $134,000 $7,005,000 $81,000 $3,528,000
Unverifiable Information 737 $96,275,000 $130,000 $1,005,000 $79,000 $1,440,000
Insufficient Cash (Downpayment, Closing Cost) 291 $45,625,000 $156,000 $655,000 $73,000 $1,128,000
Employment History 182 $27,610,000 $151,000 $1,505,000 $56,000 $408,000
Mortgage Insurance Denied 7 $1,445,000 $206,000 $375,000 $68,000 $121,000
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Mortgage Loan Application Totals in 2018 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 41,142 $ 7,616,980,000 $ 185,000 $ 86,000
FARMINGTON, NM 3,126 $ 480,030,000 $ 153,000 $ 76,000
LAS CRUCES, NM 7,699 $ 1,215,615,000 $ 157,000 $ 78,000
SANTA FE, NM 6,794 $ 1,894,620,000 $ 278,000 $ 124,000
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Mortgage Loan Application Totals in 2018 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 29,289 $ 5,615,985,000 $ 191,000 $ 88,000
Catron 91 $ 11,775,000 $ 129,000 $ 83,000
Chaves 1,805 $ 233,525,000 $ 129,000 $ 68,000
Cibola 392 $ 36,040,000 $ 91,000 $ 59,000
Colfax 479 $ 81,185,000 $ 169,000 $ 123,000
Curry 1,393 $ 211,345,000 $ 151,000 $ 70,000
De Baca 32 $ 2,650,000 $ 82,000 $ 46,000
Dona Ana 7,831 $ 1,224,705,000 $ 156,000 $ 77,000
Eddy 2,307 $ 368,355,000 $ 159,000 $ 88,000
Grant 761 $ 111,725,000 $ 146,000 $ 68,000
Guadalupe 64 $ 7,210,000 $ 112,000 $ 56,000
Harding 3 $ 185,000 $ 61,000 $ 66,000
Hidalgo 78 $ 6,140,000 $ 78,000 $ 64,000
Lea 1,858 $ 274,920,000 $ 147,000 $ 81,000
Lincoln 1,057 $ 204,845,000 $ 193,000 $ 122,000
Los Alamos 916 $ 238,350,000 $ 260,000 $ 129,000
Luna 498 $ 53,350,000 $ 107,000 $ 57,000
McKinley 796 $ 95,700,000 $ 120,000 $ 76,000
Mora 67 $ 10,525,000 $ 157,000 $ 161,000
Otero 2,216 $ 320,560,000 $ 144,000 $ 74,000
Quay 131 $ 12,745,000 $ 97,000 $ 68,000
Rio Arriba 840 $ 125,060,000 $ 148,000 $ 83,000
Roosevelt 404 $ 64,320,000 $ 159,000 $ 90,000
San Juan 3,218 $ 487,260,000 $ 151,000 $ 76,000
San Miguel 782 $ 116,480,000 $ 148,000 $ 77,000
Sandoval 8,474 $ 1,537,060,000 $ 181,000 $ 86,000
Santa Fe 6,916 $ 1,906,830,000 $ 275,000 $ 122,000
Sierra 391 $ 42,895,000 $ 109,000 $ 66,000
Socorro 320 $ 37,760,000 $ 118,000 $ 72,000
Taos 1,055 $ 201,405,000 $ 190,000 $ 101,000
Torrance 383 $ 43,625,000 $ 113,000 $ 62,000
Union 74 $ 7,570,000 $ 102,000 $ 53,000
Valencia 3,092 $ 430,250,000 $ 139,000 $ 67,000

We hope these mortgage application details and statistics will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in New Mexico.

If you prefer, you can download a copy of the entire list of mortgage lenders in New Mexico and search similar information back through 2003.

Download the New Mexico Lender List