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San Miguel County, New Mexico
Mortgage lending record for properties in the county, calendar year 2024.
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
Lenders reported 580 mortgage applications in San Miguel County, New Mexico, for 2024, and originated 224 loans worth $43m.
That is 18.8 originations per 1,000 households, against 43.7 for New Mexico and 48.0 nationally.
The county's denial rate was 39.9%, above the state rate of 25.7%. The median rate spread on originated loans was 0.6 percentage points and 27.2% of originations were 1.5 points or more above the average prime offer rate.
5 lenders reached 25 applications in the county; the most active by originations were Rocket Mortgage (31), State Employees Credit Union (17) and 21st Mortgage (16).
Originations were down 11% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | 45 | 31 | $5.6m | 29.5% | — |
| 2 | State Employees Credit Union | 28 | 17 | $1.9m | 12.0% | — |
| 3 | 21st Mortgage | 84 | 16 | $2.8m | 68.5% | — |
| 4 | Vanderbilt Mortgage and Finance, Inc | 76 | 10 | $980k | 77.3% | — |
| 5 | Credit Human Federal Credit Un | 28 | 0 | $0 | 88.9% | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 5. Denial rate is denials over decided applications in this county.
Compared with New Mexico and the nation
| Measure | This county | New Mexico | United States |
|---|---|---|---|
| Denial rate | 39.9% | 25.7% | 24.3% |
| Median rate spread, pp | 0.6 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 27.2% | 22.3% | 15.6% |
| Average originated loan | $192k | $247k | $329k |
| Originations per 1,000 households | 18.8 | 43.7 | 48.0 |
| Home purchase share of originations | 67.9% | 62.7% | 57.0% |
| FHA-insured share | 15.6% | 17.8% | 13.4% |
| VA-guaranteed share | 7.6% | 12.0% | 7.9% |
Rate spread distribution
Share of 202 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: New Mexico). Loans at 1.5 points or more on a first lien are what Regulation C calls higher-priced.
Loan purpose and loan type
By purpose
Home purchase 68% (152)Home improvement 3% (7)Refinancing 11% (24)Cash-out refinancing 14% (32)Other purpose 4% (9)
By type
Conventional 76% (171)FHA 16% (35)VA 8% (17)USDA 0% (1)
Trend by year
ApplicationsOriginations
This countyNew Mexico
Questions and answers
Which lenders are most active in San Miguel County, NM?
By 2024 originations: Rocket Mortgage (31), State Employees Credit Union (17), 21st Mortgage (16), Vanderbilt Mortgage and Finance, Inc (10), Credit Human Federal Credit Un (0). 5 lenders had at least 25 applications in the county.
What is the mortgage denial rate in San Miguel County?
39.9% of decided applications were denied in 2024, against 25.7% across New Mexico and 24.3% nationally.
How many mortgages were originated in San Miguel County in 2024?
224 loans totalling $43m, from 580 applications; 18.8 originations per 1,000 households.
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), by property county; households from the Census Bureau American Community Survey 2024 five-year estimates.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records with a property in county FIPS 35047; households and population from the U.S. Census Bureau (ACS 2024 five-year estimates; Vintage 2024 population estimates). Built 1 Oct 2026; data through 1 Aug 2026. See methodology and corrections.