Spring Eq in New Mexico vs the state
48.8%Denial rate+30.24 pts vs state
58.1%Decision denial rate+33.43 pts vs state
33.6%Origination rate-19.71 pts vs state
9.28%Median rate+2.65 pts vs state
3.25Rate spread (pts)+2.87 pts vs state
$113kMedian applicant income
188Loans originated
273Denied
Trend in New Mexico
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 354 | 82 | 65.8% | 11.04% | #49 |
| 2024 | 464 | 145 | 56.7% | 9.75% | #37 |
| 2025 | 559 | 188 | 48.8% | 9.28% | #31 |
What Spring Eq lends in New Mexico
By loan purpose
By loan type
Why it denied New Mexico applicants
Where in New Mexico
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Bernalillo County | 202 | 73 | 95 | 47.0% |
| Sandoval County | 76 | 24 | 44 | 57.9% |
| Doña Ana County | 64 | 21 | 32 | 50.0% |
| Santa Fe County | 47 | 13 | 24 | 51.1% |
| San Juan County | 36 | 12 | 19 | 52.8% |
| Eddy County | 19 | 6 | 8 | 42.1% |
| Valencia County | 19 | 7 | 6 | 31.6% |
| Lea County | 17 | 4 | 8 | 47.1% |
| Chaves County | 15 | 5 | 7 | 46.7% |
| Otero County | 10 | 2 | 5 | 50.0% |
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: 559 applications in 2025, of which 188 were originated and 273 denied.
48.8% of all applications, or 58.1% of the applications it actually decided on. The New Mexico statewide average across all lenders was 18.6%.
The median rate on loans Spring Eq originated in New Mexico in 2025 was 9.28%, against a statewide median of 6.63%.
About this data. Figures are Spring Eq'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