Current Mortgage Rates in Albuquerque, New Mexico

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.

Mortgage Rates in Albuquerque, NM as of September 18, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Albuquerque, NM Mortgage Rates Compare?

September 18, 2020

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%

Mortgage Program
Albuquerque, NM Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Albuquerque, New Mexico?

Below we provide helpful information on the real estate market, home prices and housing affordability in Albuquerque. Understand how much you need to earn to afford a home in Albuquerque, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Albuquerque fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Albuquerque is right for you.

The median home value for Albuquerque, NM (Bernalillo County) is $221,419

Based on current mortgage rates and a 10% down payment, you need to make $39,850 per year to buy the median priced home in Albuquerque

With this income, you could qualify for a $199,277 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Albuquerque is $923

The median household income for Albuquerque, NM (Bernalillo County) is $53,139

Based on this income, you can afford a home valued at approximately $295,260

The home price you can afford to buy based on household income in Albuquerque is 133% 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


Loan Limits for Albuquerque, New Mexico

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Albuquerque, NM

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Albuquerque, NM

1 unit: $510,400

Additional Mortgage Resources for Albuquerque, NM Residents

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