Rocky Mountain Mortgage Company Interest Rate and Cost Review

Is Rocky Mountain Mortgage Company a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Rocky Mountain Mortgage Company to those of other lenders for a comparable set of borrowers. Here is our review of Rocky Mountain Mortgage Company nationally:

Review ItemRocky Mountain Mortgage Company
Interest Ratesimilar to other lenders (-0.09%)
Loan Related Closing Costslower than other lenders (-$439)
National Rate and Closing Cost Star Rating(4)

On average, Rocky Mountain Mortgage Company’s interest rates were similar to those of other lenders (-0.09%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$439. Overall, combining interest rates and closing costs we estimate that Rocky Mountain Mortgage Company tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Rocky Mountain Mortgage Company, check out its website at:

Rocky Mountain Mortgage Company’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Rocky Mountain Mortgage Company was most active in:

  1. El Paso, TX
  2. San Antonio, TX

Rocky Mountain Mortgage Company’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Rocky Mountain Mortgage Company originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.03%-0.11%+0.00%-0.10%
Loan Related Closing Cost Difference-$191-$769-$44-$197
Cost Adjusted Rate Difference-0.05%-0.18%-0.00%-0.11%
National Star Rating(4)(4.5)(3.5)(4)
Refinance MortgagesConformingVA
Interest Rate Difference-0.05%+0.03%
Loan Related Closing Cost Difference-$60-$26
Cost Adjusted Rate Difference-0.07%+0.03%
Average Star Rating(4)(3.5)

As a summary, Rocky Mountain Mortgage Company is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for USDA purchase mortgages. For refinancing mortgages, Rocky Mountain Mortgage Company is cheap for Conforming mortgage refinance. It is similar to other lenders for VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Rocky Mountain Mortgage Company:

Registered name: Rocky Mountain Mortgage Company
Registered city and state: El Paso, TX, 79935
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Rocky Mountain Mortgage Company’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.