What are FHA Loan Limits in New Mexico?

FHA loans are a low down payment mortgage program and New Mexico FHA loan limits are connected to local home values. Search the charts below to determine the maximum mortgage amount allowed for your county. FHA loan limits in New Mexico are set at the floor amount of $275,665 across almost the entire state.

New Mexico FHA Loan Limits Search:

County Name
Area
1-Unit
2-Unit
3-Unit
4-Unit
BERNALILLOALBUQUERQUE, NM$331,760$424,800$513,450$638,100
CATRONNON-METRO$401,350$513,800$621,050$771,850
CHAVESROSWELL, NM$331,760$424,800$513,450$638,100
CIBOLAGRANTS, NM$331,760$424,800$513,450$638,100
COLFAXNON-METRO$331,760$424,800$513,450$638,100
CURRYCLOVIS, NM$331,760$424,800$513,450$638,100
DE BACANON-METRO$331,760$424,800$513,450$638,100
DONA ANALAS CRUCES, NM$331,760$424,800$513,450$638,100
EDDYCARLSBAD-ARTESIA, NM$331,760$424,800$513,450$638,100
GRANTSILVER CITY, NM$331,760$424,800$513,450$638,100
GUADALUPENON-METRO$331,760$424,800$513,450$638,100
HARDINGNON-METRO$331,760$424,800$513,450$638,100
HIDALGONON-METRO$331,760$424,800$513,450$638,100
LEAHOBBS, NM$331,760$424,800$513,450$638,100
LINCOLNRUIDOSO, NM$331,760$424,800$513,450$638,100
LOS ALAMOSLOS ALAMOS, NM$431,250$552,050$667,350$829,350
LUNADEMING, NM$331,760$424,800$513,450$638,100
MCKINLEYGALLUP, NM$331,760$424,800$513,450$638,100
MORALAS VEGAS, NM$331,760$424,800$513,450$638,100
OTEROALAMOGORDO, NM$331,760$424,800$513,450$638,100
QUAYNON-METRO$331,760$424,800$513,450$638,100
RIO ARRIBAESPANOLA, NM$331,760$424,800$513,450$638,100
ROOSEVELTPORTALES, NM$331,760$424,800$513,450$638,100
SAN JUANFARMINGTON, NM$331,760$424,800$513,450$638,100
SAN MIGUELLAS VEGAS, NM$331,760$424,800$513,450$638,100
SANDOVALALBUQUERQUE, NM$331,760$424,800$513,450$638,100
SANTA FESANTA FE, NM$380,650$487,300$589,000$732,000
SIERRANON-METRO$331,760$424,800$513,450$638,100
SOCORRONON-METRO$331,760$424,800$513,450$638,100
TAOSTAOS, NM$331,760$424,800$513,450$638,100
TORRANCEALBUQUERQUE, NM$331,760$424,800$513,450$638,100
UNIONNON-METRO$331,760$424,800$513,450$638,100
VALENCIAALBUQUERQUE, NM$331,760$424,800$513,450$638,100

New Mexico FHA loan limits can change at any time. Check back often to ensure information is accurate.

How are New Mexico FHA Limits Set?

New Mexico FHA Loan LimitsMortgage limits for New Mexico FHA loans are based on median housing prices for the particular Metropolitan Statistical Area (MSA) and county. More specifically, “Median Sale Price” for area homes in each county or MSA is considered the determining factor. National FHA mortgage limits for low costs areas are set at 65 percent of the national conventional conforming loan limit. FHA loan limits are updated yearly.

New Mexico FHA Loan-to-Value Limits (LTV)

  • Purchase Loans –  The mortgage loan-to-value limit in NM is 96.5% of the lower of the purchase price or the appraised value of the home.
  • Refinance Loans – The refinance loan-to-value limit in NM is 97.75% of the lower of the appraised property value, or the mortgage amount plus closing costs. If you’re refinancing and taking cash out from equity, the loan limit will be limited to 85% of the appraised home value.

New Mexico FHA loan limits are set above the nationwide floor amount in Santa Fe, Los Alamos, Taos and surrounding areas. You may also want to view these additional FHA loan resources before deciding on a mortgage loan:

More FHA Loan Resources

 

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