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Thinking about buying a home this spring? Check out the latest update to the income needed to buy a median-priced home in the top 50 metro areas.

Thinking about buying a home this spring? Check out the latest update to the income needed to buy a median-priced home in the top 50 metro areas.

Current FHA Mortgage Rates in NM - New Mexico FHA Mortgage

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Note: Your loan amount is greater than the value of the property, a condition known as being "underwater".
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New Mexico Mortgages

2024 FHA Loan Limits for New Mexico

FHA Loans are government insured mortgages from the Federal Housing Administration and are an attractive option for homebuyers with small down payments or who have less-than-stellar credit. An FHA-backed loan can also be attractive to homeowners who want to refinance.

FHA mortgages are backed by a self-insuring pool to limit risks for the lenders who make these low downpayment loans. Homebuyers or homeowners looking to refinance can borrow with as little as a 3.5% downpayment or equity stake.

Learn more about FHA loans or calculate FHA loan costs and compare FHA loans against conventional low-downpayment mortgage programs.

FHA loan limits are different than those for conventional mortgages, as they use a formula based on median home prices; as such, FHA loan limits are reset each year, and vary from county to county in each state. The 2024 FHA loan limits for each county in New Mexico are below.

County Name One Family Two Family Three Family Four Family
Bernalillo One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Catron One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Chaves One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Cibola One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Colfax One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Curry One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
De Baca One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Dona Ana One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Eddy One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Grant One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Guadalupe One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Harding One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Hidalgo One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Lea One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Lincoln One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Los Alamos One Family$625,600 Two Family$800,900 Three Family$968,100 Four Family$1,203,100
Luna One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Mckinley One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Mora One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Otero One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Quay One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Rio Arriba One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Roosevelt One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
San Juan One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
San Miguel One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Sandoval One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Santa Fe One Family$541,650 Two Family$693,400 Three Family$838,150 Four Family$1,041,650
Sierra One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Socorro One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Taos One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Torrance One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Union One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
Valencia One Family$498,257 Two Family$637,950 Three Family$771,125 Four Family$958,350
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