Top Gallup, NM Mortgage Lenders

RankGallup Mortgage LenderGallup Home Loans ProcessedGallup Home Loans ApprovedGallup Home Loans DeniedGallup Mortgage Median Loan to Income Ratio (LTR) for Approved LoansGallup Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 436 33%43%
  • 160%
  • (80,000 Loan / $50,000 Income)
  • 43%
  • (74,000 Loan / $171,000 Income)
2Vanderbilt Mortgage 357 8%61%
  • 83%
  • (26,000 / $31,000)
  • 165%
  • (48,000 / $29,000)
3Bank Of America 250 63%25%
  • 169%
  • (107,000 / $63,000)
  • 157%
  • (88,000 / $56,000)
4Washington Federal S&L 214 61%20%
  • 140%
  • (90,000 / $64,000)
  • 162%
  • (125,000 / $77,000)
5Jpmorgan Chase Bank 202 78%17%
  • 269%
  • (143,000 / $53,000)
  • 190%
  • (135,000 / $71,000)
6Bank Of Colorado 195 71%20%
  • 137%
  • (174,000 / $127,000)
  • 145%
  • (51,000 / $35,000)
7Countrywide Bank Fsb 159 76%11%
  • 182%
  • (124,000 / $68,000)
  • 259%
  • (166,000 / $64,000)
8Embrace Home Loans, 155 9%36%
  • 250%
  • (130,000 / $52,000)
  • 260%
  • (125,000 / $48,000)
9First Financial Credit Union 152 49%33%
  • 139%
  • (103,000 / $74,000)
  • 234%
  • (117,000 / $50,000)
10Beneficial Company Llc 130 6%75%
  • 182%
  • (102,000 / $56,000)
  • 198%
  • (135,000 / $68,000)
11Quicken Loans 116 64%29%
  • 209%
  • (153,000 / $73,000)
  • 265%
  • (122,000 / $46,000)
12Phh Mortgage Corporation 116 58%18%
  • 208%
  • (98,000 / $47,000)
  • 233%
  • (229,000 / $98,000)
13Us Bank 112 41%50%
  • 140%
  • (49,000 / $35,000)
  • 138%
  • (43,000 / $31,000)
14Countrywide Home Loans 107 71%14%
  • 163%
  • (256,000 / $157,000)
  • 200%
  • (72,000 / $36,000)
15Wells Fargo Fin'l New Mexico 102 19%52%
  • 170%
  • (114,000 / $67,000)
  • 181%
  • (60,000 / $33,000)
16Usaa Federal Savings Bank 97 59%29%
  • 161%
  • (230,000 / $142,000)
  • 189%
  • (104,000 / $55,000)
17Citifinancial, 81 37%40%
  • 205%
  • (78,000 / $38,000)
  • 166%
  • (100,000 / $60,000)
18Superior Mortgage Services Llc 80 90%5%
  • 244%
  • (122,000 / $50,000)
  • 250%
  • (143,000 / $57,000)
19First Community Bank 79 46%41%
  • 179%
  • (95,000 / $53,000)
  • 25%
  • (15,000 / $59,000)
20Wells Fargo Funding 59 98%1% 0
  • 331%
  • (149,000 / $45,000)

Gallup, NM Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 4,686
  2. Loan Applications Denied: 1,530
  3. % of Loan Applications Denied: 32
  4. # of Loan Originations: 2,177
  5. % of Loan Applications Originated 46

Gallup, NM Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Credit history35
Debt-to-income ratio19
Collateral18
Credit application incomplete5
Unverifiable information4

Gallup, NM Mortgage Loans Processed & Denied Applications by Loan Amount

Loan Amount Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0002,070 3642
$100,000 - $300,0002,501 5225
$300,000 - $500,000109 5621
$500,000 - $1,000,0006 033

Gallup, NM Home Loans Processed & Denied Applications by Income Level

Income Levels Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0003,876 4435
$100,000 - $300,000777 5620
$300,000 - $500,00029 4317
$500,000 - $1,000,0003 3333
> $2,000,0001 00

Loan to Income Ratios Research for Mortgage in Gallup, NM

Loan to Income Ratio (Loan Amount as a Percentage of Income Levels) Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
0 - 30%25324 59
30 - 60%27340 34
60 - 100%48148 30
100 - 200%1,60847 30
200 - 300%1,20650 28
300 - 400%55550 30
> 400%31033 45

Gallup, NM Home Owner Occupancy Type Mortgage Data

Owner Occupancy Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
Owner-Occupied As A Principal Dwelling4,369 4632
Not Owner-Occupied As A Principal Dwelling301 5131
Not Applicable16 6825

Home Owner Property Type Statistics in Gallup, NM for Home Loans

Property Type Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
One-To-Four Family Dwelling (Other Than Manufactured Housing)3,902 5127
Manufactured Housing784 1957
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