Compare Belen, NM mortgage rates and fees from top lenders. 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 lowest 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.
August 12, 2022
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 $199,838
Based on current mortgage rates and a 10% down payment, you need to make $32,743 per year to buy the median priced home in Belen
With this income, you could qualify for a $179,854 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 $758
The median household income for Belen, NM (Valencia County) is $65,502
Based on this income, you can afford a home valued at approximately $399,777
The home price you can afford to buy based on household income in Belen is 200% of the median home value which means housing prices are affordable. Belen (Valencia County) ranks 10 out of 33 counties in New Mexico and 1,728 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 affordable
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
FHA loan limits for Belen, NM
VA loan limits for Belen, NM