Commerce Home Mortgage in New Mexico vs the state
7.2%Denial rate-11.38 pts vs state
10.5%Decision denial rate-14.21 pts vs state
60.8%Origination rate+7.48 pts vs state
6.75%Median rate+0.13 pts vs state
0.80Rate spread (pts)+0.42 pts vs state
$100kMedian applicant income
118Loans originated
14Denied
Trend in New Mexico
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 339 | 171 | 7.4% | 7.06% | #50 |
| 2024 | 172 | 100 | 4.1% | 7.00% | #76 |
| 2025 | 194 | 118 | 7.2% | 6.75% | #79 |
What Commerce Home Mortgage lends in New Mexico
By loan purpose
By loan type
Why it denied New Mexico applicants
Where in New Mexico
Counties with the most Commerce Home Mortgage applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Doña Ana County | 131 | 81 | 10 | 7.6% |
| Bernalillo County | 19 | 11 | 3 | 15.8% |
| Lincoln County | 9 | 5 | 1 | 11.1% |
| Luna County | 8 | 6 | 0 | 0.0% |
| Santa Fe County | 7 | 3 | 0 | 0.0% |
| Otero County | 7 | 4 | 0 | 0.0% |
| McKinley County | 2 | 1 | 0 | 0.0% |
| Grant County | 2 | 2 | 0 | 0.0% |
| Taos County | 2 | 1 | 0 | 0.0% |
| Sierra County | 1 | 1 | 0 | 0.0% |
Other large lenders in New Mexico
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 4,440 | 20.5% | 6.75% |
| 21st Mortgage | F | 3,992 | 45.5% | 9.60% |
| United Shore Financial Services | B | 3,251 | 12.8% | 6.13% |
| Guild Mortgage | A | 3,186 | 4.3% | 6.63% |
| Nusenda | D | 2,962 | 13.7% | 8.00% |
| Waterstone Mortgage | C | 2,740 | 3.2% | 6.88% |
| Vanderbilt Mortgage and Finance | F | 2,085 | 46.4% | 9.99% |
| Sunward Federal Credit Union | B | 1,765 | 9.1% | 6.50% |
| Mortgage Research Center | C | 1,683 | 15.9% | 6.25% |
| Primary Residential Mortgage | C | 1,497 | 4.9% | 6.63% |
Frequently asked questions
New Mexico: 194 applications in 2025, of which 118 were originated and 14 denied.
7.2% of all applications, or 10.5% of the applications it actually decided on. The New Mexico statewide average across all lenders was 18.6%.
The median rate on loans Commerce Home Mortgage originated in New Mexico in 2025 was 6.75%, against a statewide median of 6.63%.
About this data. Figures are Commerce Home Mortgage's own HMDA filing for properties located in New Mexico, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology