Largest mortgage lenders in New Mexico
By applications received in 2025. Grade is the lender's national grade.
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | C | 4,440 | 2,972 | 20.5% | 6.75% |
| 2 | 21st Mortgage | F | 3,992 | 783 | 45.5% | 9.60% |
| 3 | United Shore Financial Services | B | 3,251 | 2,298 | 12.8% | 6.13% |
| 4 | Guild Mortgage | A | 3,186 | 2,173 | 4.3% | 6.63% |
| 5 | Nusenda | D | 2,962 | 1,881 | 13.7% | 8.00% |
| 6 | Waterstone Mortgage | C | 2,740 | 2,064 | 3.2% | 6.88% |
| 7 | Vanderbilt Mortgage and Finance | F | 2,085 | 197 | 46.4% | 9.99% |
| 8 | Sunward Federal Credit Union | B | 1,765 | 1,153 | 9.1% | 6.50% |
| 9 | Mortgage Research Center | C | 1,683 | 822 | 15.9% | 6.25% |
| 10 | Primary Residential Mortgage | C | 1,497 | 1,071 | 4.9% | 6.63% |
| 11 | Loandepot.Com | D | 1,441 | 789 | 24.6% | 6.75% |
| 12 | BOKF | D | 1,345 | 772 | 17.1% | 6.63% |
| 13 | Pennymac Loan Services | C | 1,330 | 593 | 12.3% | 6.38% |
| 14 | Freedom Mortgage | B | 1,304 | 491 | 9.7% | 6.25% |
| 15 | CMG Mortgage | A | 1,225 | 819 | 5.3% | 6.63% |
| 16 | Navy Federal Credit Union | D | 1,085 | 500 | 17.3% | 6.63% |
| 17 | Bank of America | F | 1,033 | 356 | 40.6% | 6.25% |
| 18 | Broker Solutions | D | 994 | 323 | 10.3% | 6.88% |
| 19 | Newrez | D | 935 | 292 | 20.1% | 6.75% |
| 20 | Kirtland Federal Credit Union | D | 891 | 504 | 22.3% | 7.50% |
| 21 | AmeriSave Mortgage | D | 887 | 206 | 64.9% | 7.88% |
| 22 | JPMorgan Chase Bank | B | 843 | 543 | 7.7% | 6.50% |
| 23 | U.S. Bank | D | 825 | 286 | 45.6% | 7.64% |
| 24 | Crosscountry Mortgage | B | 775 | 478 | 3.6% | 6.38% |
| 25 | Sandia Area | F | 728 | 425 | 24.9% | — |
Best approval odds in New Mexico
Lowest decision denial rate among lenders that decided at least 300 New Mexico applications in 2025.
| # | Lender | Decided | Decision denial rate | Median rate |
|---|---|---|---|---|
| 1 | Citizens Bank of Las Cruces | 352 | 3.7% | 6.63% |
| 2 | Sunflower Bank | 366 | 3.8% | 6.49% |
| 3 | Coastal Community Bank | 409 | 3.9% | 10.24% |
| 4 | Waterstone Mortgage | 2,168 | 4.0% | 6.88% |
| 5 | Bell Bank | 417 | 4.3% | 6.38% |
| 6 | Click n' Close | 361 | 5.3% | 6.50% |
| 7 | Crosscountry Mortgage | 519 | 5.4% | 6.38% |
| 8 | Guild Mortgage | 2,488 | 5.5% | 6.63% |
| 9 | Primary Residential Mortgage | 1,145 | 6.5% | 6.63% |
| 10 | CMG Mortgage | 977 | 6.7% | 6.63% |
Lowest median rates in New Mexico
Among lenders reporting rates on at least 100 originated loans. Product mix matters: a VA specialist will show a lower median than a jumbo lender.
| # | Lender | Priced loans | Median rate | Denial rate |
|---|---|---|---|---|
| 1 | Homeamerican Mortgage | 101 | 4.50% | 10.6% |
| 2 | Pulte Mortgage | 321 | 4.99% | 10.2% |
| 3 | Dhi Mortgage Company | 412 | 4.99% | 20.1% |
| 4 | Village Capital & Investment | 104 | 5.75% | 21.5% |
| 5 | Del Norte Credit Union | 312 | 5.88% | 13.6% |
| 6 | United Shore Financial Services | 2,298 | 6.13% | 12.8% |
| 7 | Calcon Mutual Mortgage | 234 | 6.25% | 1.9% |
| 8 | Mutual of Omaha Mortgage | 179 | 6.25% | 21.2% |
| 9 | Bank of America | 356 | 6.25% | 40.6% |
| 10 | Freedom Mortgage | 491 | 6.25% | 9.7% |
What New Mexico borrowers applied for
By loan purpose
By loan type
Denial rate by applicant income
Why New Mexico applications were denied
New Mexico mortgage market by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan | Lenders |
|---|---|---|---|---|---|---|
| 2023 | 59,802 | 31,521 | 20.4% | 6.88% | $185,000 | 599 |
| 2024 | 68,029 | 36,602 | 19.8% | 6.88% | $185,000 | 566 |
| 2025 | 73,701 | 39,313 | 18.6% | 6.63% | $205,000 | 599 |
New Mexico counties
Counties with at least 200 applications in 2025, most active first.
Frequently asked questions
18.6% of mortgage applications in New Mexico were denied in 2025 (24.7% of applications that reached a decision). Nationally the rate was 18.0%.
Rocket Mortgage handled the most applications in New Mexico in 2025: 4,440, with a denial rate of 20.5%.
Among lenders that decided at least 300 applications in New Mexico, Citizens Bank of Las Cruces had the lowest decision denial rate at 3.7%.
The median interest rate on loans originated in New Mexico in 2025 was 6.63%. That is the rate borrowers actually received, reported by lenders under HMDA, not an advertised rate.