Compare mortgage rates and fees for leading lenders in Albuquerque, NM. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Albuquerque.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Albuquerque. Plus, shopping lenders is free and there is no obligation.
December 16, 2019
The current average rate for a 30 year fixed rate mortgage in Albuquerque is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Albuquerque, NM (Bernalillo County) is $208,296
The median household income for Albuquerque, NM (Bernalillo County) is $51,926
Based on current mortgage rates and a 10% down payment, you need to make $38,645 per year to buy the median priced home in Albuquerque
The home price you can afford to buy based on household income in Albuquerque is 134% of the median home value which means housing prices are average
Albuquerque (Bernalillo County) ranks 26 out of 33 counties in New Mexico and 2,743 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Albuquerque, NM is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Albuquerque (Bernalillo County) below.
Conforming loan limits for Albuquerque, NM
FHA loan limits for Albuquerque, NM
VA loan limits for Albuquerque, NM
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index