Current Mortgage Rates in Belen, New Mexico

Compare mortgage rates and fees for leading lenders in Belen, 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 Belen.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Belen. Plus, shopping lenders is free and there is no obligation.

Mortgage Rates in Belen, NM as of September 23, 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 Belen, NM Mortgage Rates Compare?

September 23, 2020

The current average rate for a 30 year fixed rate mortgage in Belen 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
Belen, NM Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Belen, New Mexico?

Below we provide helpful information on the real estate market, home prices and housing affordability in Belen. Understand how much you need to earn to afford a home in Belen, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Belen 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 Belen is right for you.

The median home value for Belen, NM (Valencia County) is $150,366

Based on current mortgage rates and a 10% down payment, you need to make $27,062 per year to buy the median priced home in Belen

With this income, you could qualify for a $135,330 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 Belen is $627

The median household income for Belen, NM (Valencia County) is $45,801

Based on this income, you can afford a home valued at approximately $254,486

The home price you can afford to buy based on household income in Belen is 169% of the median home value which means housing prices are average. Belen (Valencia County) ranks 14 out of 33 counties in New Mexico and 2,186 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Belen, NM is average


Loan Limits for Belen, New Mexico

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Belen (Valencia County) below.

Conforming loan limits for Belen, NM

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

FHA loan limits for Belen, NM

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

VA loan limits for Belen, NM

1 unit: $510,400

Additional Mortgage Resources for Belen, NM Residents

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