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$275,665$352,950$426,625$530,150
CATRONNON-METRO$395,600$506,450$612,150$760,750
CHAVESROSWELL, NM$275,665$352,950$426,625$530,150
CIBOLAGRANTS, NM$275,665$352,950$426,625$530,150
COLFAXNON-METRO$275,665$352,950$426,625$530,150
CURRYCLOVIS, NM$275,665$352,950$426,625$530,150
DE BACANON-METRO$275,665$352,950$426,625$530,150
DONA ANALAS CRUCES, NM$275,665$352,950$426,625$530,150
EDDYCARLSBAD-ARTESIA, NM$275,665$352,950$426,625$530,150
GRANTSILVER CITY, NM$275,665$352,950$426,625$530,150
GUADALUPENON-METRO$275,665$352,950$426,625$530,150
HARDINGNON-METRO$275,665$352,950$426,625$530,150
HIDALGONON-METRO$275,665$352,950$426,625$530,150
LEAHOBBS, NM$275,665$352,950$426,625$530,150
LINCOLNNON-METRO$275,665$352,950$426,625$530,150
LOS ALAMOSLOS ALAMOS, NM$380,650$487,300$589,000$732,000
LUNADEMING, NM$275,665$352,950$426,625$530,150
MCKINLEYGALLUP, NM$275,665$352,950$426,625$530,150
MORANON-METRO$275,665$352,950$426,625$530,150
OTEROALAMOGORDO, NM$275,665$352,950$426,625$530,150
QUAYNON-METRO$275,665$352,950$426,625$530,150
RIO ARRIBAESPANOLA, NM$275,665$352,950$426,625$530,150
ROOSEVELTPORTALES, NM$275,665$352,950$426,625$530,150
SAN JUANFARMINGTON, NM$275,665$352,950$426,625$530,150
SAN MIGUELLAS VEGAS, NM$275,665$352,950$426,625$530,150
SANDOVALALBUQUERQUE, NM$275,665$352,950$426,625$530,150
SANTA FESANTA FE, NM$368,000$471,100$569,450$707,700
SIERRANON-METRO$275,665$352,950$426,625$530,150
SOCORRONON-METRO$275,665$352,950$426,625$530,150
TAOSTAOS, NM$286,350$366,550$443,100$550,650
TORRANCEALBUQUERQUE, NM$275,665$352,950$426,625$530,150
UNIONNON-METRO$275,665$352,950$426,625$530,150
VALENCIAALBUQUERQUE, NM$275,665$352,950$426,625$530,150

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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